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October 21, 2009

Oil Up Over $81 Yikes!!

 

Oil rose over $81/barrel – highest for the year. US supplies declined more than forecast. Dollar dropped.

analyst forecasts, in the week ended Oct. 16, according to the report.

“As long as there’s pressure on the U.S. dollar, there will be upward movement in oil,” said Rachel Ziemba, an analyst at RGE Monitor, an economic research company in New York. “We could see even greater climbs higher, which will put us even further out of whack from the fundamentals.”

Stocks, ExxonMobil and Chevron, are up big time.

Is oil the new hedging tool?

Filed under:Fuel cost,Fuel Price Hedging,Fuel Price Trends,Gas price,Hedging | by Pump Girl @ 4:30 pm | 

October 16, 2009

The Hydrogen Car Gets Its Groove Back

 

Energy Sec. Steven Chu was/is not a big fan of using gov. money for “clean vehicles” (he actually almost mocked their potential), and zeroed their funding.

In slashing the budget, Chu, an advocate of alternative energy, reopened longstanding questions over whether hydrogen cars are a distant pipe dream, or as former President Bush once said, a technology that could be in showrooms by 2019.

Never fear, the Senate is here. On Thurs. the Senate agreed to restore all the money for hydrogen car research that was previously cut. The hydrogen people are happy, carmakers are happy.

We’re grateful to the Congress for seeing the value in continuing this work,” said Jerome Hinkle, vice president of government affairs for the National Hydrogen Association. He added that the administration has since seemed to moderate its opposition to hydrogen cars.

“They’ve made peace with it,” he said.

We shall see.

Filed under:Alternative Energy,Fuel Price Trends | by Pump Girl @ 5:26 pm | 

October 13, 2009

Early Winter Sends Oil Up

 

Energy prices rose Monday – Oil settling over $73/barrel.

Heating Oil and Natural Gas took a jump, too. Supplies of all three are more than plentiful, so what can be blamed but the weak dollar. UGH!

Filed under:Energy,Fuel Price Trends | by Pump Girl @ 3:51 pm | 

October 9, 2009

Will Oil Prices Go Down?

 

Some think they certainly should. Fuel inventories should climb and consumption is down.

Gas stockpiles increased by 2.94 million barrels last week. Speculators, look out for the downside!

Demand dropped .9% last week.

Despite this oil prices up, equities up, dollar down.

Crude oil for November delivery rose $1.74, or 2.5 percent, to $71.69 a barrel so far this week on the New York Mercantile Exchange, the highest close since Sept. 18. Futures are up 61 percent this year.

Filed under:Energy,Fuel Price Trends | by Pump Girl @ 3:47 pm | 

October 7, 2009

Pickens Sees Oil Prices Higher in 2010

 

No surprise here. Pickens sees the oil supply very tight once the recovery gets underway, especially since the Chinese have spent some $200 billion buying up oil supplies around the world.

Changing to natural gas is the ticket (and fits right in with Pickens Clean Energy Fuels Corp.)

Pickens guess for oil 2010? $85/barrel. Might see $100 by year end.

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 2:41 pm |