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March 23:
"Ahead of this morning's weekly Energy Department inventory report, the industry-supported American Petroleum Institute estimated there'd be a 970,000-barrel hike in domestic oil stores. Analysts, meantime, forecast crude stocks rising by 1.5 million to 2.0 million barrels.
When the actual inventory numbers were rolled out, crude stockpiles stood at 352. 8 million barrels, reflecting a 2.1-million-barrel build over the previous week. Domestic inventories haven't been that high since November 2010. Oil continues to pile up in the nation's Midwest region, in particular."
Sounds like inventory was NOT a problem.
Not in the US, but oil is traded on the world market.
Not in the US, but oil is traded on the world market.
The current trend in oil prices started in December 2010. Do you have "world" data from months before December that prove there was a surplus until that point?
When Barack bailed out General Motors with taxpayer money ... he spewed how GM would help him attain efficiency standards acceptable to Democrats.
Now, Cadillac has introduced a 556hp station wagon that goes 190 miles per hour and gets 14 miles per gallon. It costs $70,000.
Not efficient and not affordable to the middle class, that Obama cares so much about.
Obama is a joke, his recovery is a joke, and he could care less about out of control energy prices.
He couldn't care less PERIOD even for the troops to get paid - most of us have seen how absolutely COLD he is and is only interested in playing politics for his personal gain only and the heck with everyone else. He is all mouth with no substance.
We should also worry less about hp and more about mpg so why not have those turbo diesel cars that europe uses from Ford that get close to 60-70mpg here while we work on solid alternative solutions?
The current trend in oil prices started in December 2010. Do you have "world" data from months before December that prove there was a surplus until that point?
Not at the moment, no. btw it started back in 2009 after the recession.
In the IEA report, last six months of 2010 show deficit, but not reflected in prices.
Hang on- prices steadily rose from early 2009, not dec 2010. Also charts are usually revised after 6 months as anything less than 6 months old is based on incomplete data. I'm not saying markets are perfect nor that prices perfectly reflect supply and demand, just that the current price rises are not without an underlying supply issue.
Hang on- prices steadily rose from early 2009, not dec 2010. Also charts are usually revised after 6 months as anything less than 6 months old is based on incomplete data. I'm not saying markets are perfect nor that prices perfectly reflect supply and demand, just that the current price rises are not without an underlying supply issue.
I expect steady increases. I have expected that for a LONG time and plan my future choices accordingly. I see nothing "steady" about the price jump over last couple of months.
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