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September 22, 2010

Links For 9/22

 

Steve Crist, Editor at Wealth Daily writes that the real price of oil is more like $543/ barrel, vs. the $74 spot price.

Andrew Revkin of the Dot Earth blogs writes about what kind of Reduce, Reuse and Recycle can be done with spent oil rigs. Interesting pix of a Malaysian dive resort made out of one.

Rigzone reports that China oil consumption is rising, but down from June high.

Oil prices fell Tues. to $73.52/barrel. Oil traders worry about their futures contracts.

Filed under:Fuel cost,Fuel Price Trends,Fumes,Gas price | by Pump Girl @ 4:09 pm | 

September 17, 2010

What Happened To The Oil From The BP Well?

 

It’s on the bottom of the deep blue sea, of course. While the ocean may look like like the BP oil spill is all cleaned up, oil about 2 in. thick was found by scientists on the ocean floor.

It’s too deep for divers to actually go there in person, but the miracles of modern technology lets them see into the deep.

“I expected to find oil on the sea floor,” UGA researcher Samantha Joye said Monday morning in a ship-to-shore telephone interview. “I did not expect to find this much. I didn’t expect to find layers two inches thick. It’s weird the stuff we found last night. Some of it was really dense and thick.”

Joye said 10 of her 14 samples showed visible oil, including all the ones taken north of the busted well. She found oil on the sea floor as far as 80 miles away from the site of the spill.

“It’s kind of like having a blizzard where the snow comes in and covers everything,” Joye said.

The question now is how much is there, and what kind of animal life is it killing. The marshlands are already coming back.

Filed under:Fumes | by Pump Girl @ 5:49 pm | 

Oil Heads Toward $75

 

Yep. It’s the supply thing. Oil headed down today toward $75/barrel. Supplies are still about 7% higher than 2009, and the highest since 1983.

Filed under:Fuel Price Trends | by Pump Girl @ 5:34 pm | 

September 15, 2010

Don’t Let Your Hurricane Guard Down

 

They are coming! Maybe not hitting us yet, but looks like three on base.

Igor the Terrible is heading for Bermuda. 550 mi. from one end of the storm to the other.

Then comes Julia, in the Atlantic and not expected to hit land.

But Karl is heading for the Gulf and expected to hit Mexico.

Filed under:Fuel Price Trends | by Pump Girl @ 5:21 pm | 

Where The Heck Is Romeoville?

 

You may not know, but I do. It’s a Chicago burb right next door to me. A little sneeze – well ok yes, a small oil spill was discovered there.

Guess what happened next? The pipeline needed to be shut down to repair a 2-in. holel. Within days, gas prices in Chicago levitated 16 cents.

“It’s like shutting down the lifeblood that feeds the organs,” said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service, a global leader in petroleum pricing and industry news.

“The spill itself is insignificant,” Kloza said. “It’s the shutting down of the pipeline that got everyone’s attention.”

No firm time frame for clean up of the fuel spilled, or even how big the spill was.

Now some are accusing gas stations of artificially raising prices. Imagine that!

Filed under:Fuel cost,Fuel Price Trends | by Pump Girl @ 5:06 pm |