Better Fill up today

[flo]

And this fits under this thread cause I can't seem to get her "filled up".  

[frawin]

Below is the current EIA Weekly Petroleum Inventory Report, It is encouraging in regard to the continued reduction in demand but the continued  inventory reductions overall are very disturbing.

Summary of Weekly Petroleum Data for the Week Ending September 12, 2008

U.S. crude oil refinery inputs averaged 13.2 million barrels per day during the
week ending September 12, down 246 thousand barrels per day from the previous
week's average. Refineries operated at 77.4 percent of their operable capacity
last week. Gasoline production fell last week, averaging 8.3 million barrels per
day. Distillate fuel production decreased last week, averaging 3.8 million
barrels per day.

U.S. crude oil imports averaged 8.5 million barrels per day last week, down 71
thousand barrels per day from the previous week. Over the last four weeks, crude
oil imports have averaged 9.2 million barrels per day, 1.1 million barrels per
day below the same four-week period last year. Total motor gasoline imports
(including both finished gasoline and gasoline blending components) last week
averaged nearly 1.0 million barrels per day. Distillate fuel imports averaged
131 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) decreased by 6.3 million barrels from the previous week. At
291.7 million barrels, U.S. crude oil inventories are in the lower half of the
average range for this time of year. Total motor gasoline inventories decreased
by 3.3 million barrels last week, and are below the lower boundary of the
average range. Both finished gasoline inventories and gasoline blending
components inventories decreased last week. Distillate fuel inventories
decreased by 0.9 million barrels, and are in the middle of the average range for
this time of year. Propane/propylene inventories increased by 1.0 million
barrels last week but remain below the lower limit of the average range. Total
commercial petroleum inventories decreased by 11.9 million barrels last week,
and are at the lower boundary of the average range for this time of year.

Total products supplied over the last four-week period has averaged about 19.9
million barrels per day, down by 4.4 percent compared to the similar period last
year. Over the last four weeks, motor gasoline demand has averaged 9.2 million
barrels per day, down by 2.6 percent from the same period last year. Distillate
fuel demand has averaged 4.0 million barrels per day over the last four weeks,
down by 2.7 percent from the same period last year. Jet fuel demand is 7.6
percent lower over the last four weeks compared to the same four-week period
last year.

[Teresa]

You know Maude.. It is the same in real life.. When .. if ever .. have you and I  talked and EVER stayed on topic? LOL
hmmmm... I would say .. never. 
But that works for us , cause no one else around us can get a word in edge wise.. and we don't care anyway.. 

[frawin]

Oct-08 Crude oil closed at $95.90 up $6.01 on the day, Oct-08 Natural Gas closed at $7.73, up $0.631 on the day. I have been hoping that crude and natural gas would continue down as I think that would do alot to help out our current financial problems. The House Energy bill that they passed is a real joke .

[greatguns]

How many years do you believe it will take to recover from Bill Clinton?

[Catwoman]

I don't know...how many years did it take to recover from the Carter administration?  It will probably be approximately the same.

[frawin]

How many years do you believe it will take to recover from Bill Clinton?

Good question Sally. I think if we could get some of our manufacturing and jobs back home from China, India, Japan and other countries and put our people back to work, that would start helping pretty quick. It would help the value of the dollar. it would reduce some of the demand for petroleum by China, Japan , India and others. In addition let's start drilling our oil reserves and Natural gas reserves, expand our research on alternate energy, more mass transit, if we really worked at it I think we could be somewhat energy independent of OPEC and others, in say 10-15 years. The American Consumer should start demanding more goods made in America, we would all have to do without for awhile but if we don't do something we are all going to do without because we can't afford to buy it. We need to cleanout Washington"throw the bums out" and get people in that are there to serve America and the people instead of people there to line there own pockets and collect their own big retirement.

[Teresa]

How many years do you believe it will take to recover from Bill Clinton?

Good question Sally.

Good answer Frank...
But I expect nothing less from you.

[frawin]

Oct-08 Crude is trading at $99.50, up $2.34, Oct-08  Natural Gas is trading at $8.235, up $0.325, The EIA Natural Gas Storage Inventory comes out today, it will be interesting to see where the numbers are.

[sixdogsmom]

This has gotten buried with all the bad news in the economy, but I thought it indicative of much business that is conducted between lobbyists and government. This all came about last week.

By Tom Doggett
Thu Sep 11, 5:07 PM ET



WASHINGTON (Reuters) - U.S. Interior Secretary Dirk Kempthorne on Thursday said he was "outraged" by department workers who had sex, used drugs and took gifts from employees at regulated oil companies, while one senator called for a Bush administration official to resign over the scandal.




The Interior Department's inspector general issued a scathing report on Wednesday that found "a culture of substance abuse and promiscuity" at the department's Minerals Management Service, whose employees handled billions of dollars in oil and natural gas supplies that were turned over by companies as in-kind royalty payments for drilling on federal lands.

"I am outraged by the immoral behavior, illegal activities, and appalling misconduct of several former and current long-serving career employees in the Minerals Management Service's royalty-in-kind program," Kempthorne said. "We will take swift action to restore the public trust."

Democratic Sen. Bill Nelson of Florida called for the agency's top head, MMS director Randall Luthi, to resign.

In response to the inspector general's report, Luthi had said that "I do not believe Americans have lost financially," but admitted "it is too early to tell" if government workers gave oil companies financial favors at the expense of taxpayers.

In a letter to Kempthorne on Thursday, Nelson asked for all department employees involved in the scandal to be immediately fired and for the secretary to ask Luthi to submit his resignation.

"Besides being a sad commentary on the failures of certain public servants, this case shows us how the oil industry can hold sway over government officials," Nelson said.

Nelson called for hearings into the scandal by the Senate Commerce Committee, on which he serves. The House Resources Committee is planning a hearing on the matter next week.

While not responding directly to the senator's letter, Kempthorne said: "We must and we will eliminate any remaining negative elements in the Minerals Management Service."

In his report, the inspector general said some MMS workers in the royalty-in-kind program took cocaine and marijuana and had "illicit sexual encounters."

Government workers also got drunk at social events with employees of oil companies doing business with the agency and MMS workers had "brief sexual relationships" with industry contacts, the inspector general said.

The oil companies named in the report were Chevron (CVX.N), Shell Oil (RDSa.L), Hess Corp (HES.N) and Gary Williams Energy Corp.

(Reporting by Tom Doggett; editing by Jim Marshall)


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