Posts Tagged ‘Oil’

Ethanol is the worst form of renewable energy.

Posted by Carlos C. on Wednesday, January 7th, 2009 at 2:33 am

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Mark Jacobson, professor of Civil and Environmental Engineering and director of the Atmosphere/Energy Program at Stanford University, recently conducted a study that ranked alternate energies from best to worst.

Ethanol was put to the test against, “Solar-photovoltaic (PV), concentrated solar power (CSP), wind, geothermal, hydroelectric, wave, tidal, nuclear, and coal with carbon capture and storage (CCS) technology.”

After looking at reports of air pollutants from energy types on climate and air quality, and comparing how well each energy type was able to power vehicles, the study showed that Ethanol came in dead last.

It seems that the report found that wind-powered battery electric vehicles as well as wind-powered hydrogen fuel cells were the greenest ways to go.

The immediate problem now, is the fact that driving a wind-powered battery electric vehicle is horrendously expensive, let alone impractical.

And for its part, Ethanol has already received huge support from the automotive industry and the U.S. government.

Finding an appropriately sized role for ethanol, with adequate support for the greener of the new green-tech is easier said than done.

I always knew that ethanol was a worthless technology, and now I have backing from a professor at Stanford University.

Ethanol has a carbon footprint, has less energy in it than either gasoline or diesel, is expensive to produce, and the production of ethanol creates pollution.

Solution? Drill, baby, drill! Yes, American oil companies should drill in America and drill in America’s territorial waters (such as off the coast of Florida and California) for our own oil. Oil will most likely see America through its energy needs for at least the next 200 years. No time like the present to start drilling for our future.

Check out Professor Mark Jacobson’s paper at RSC.org.

UPDATE 1: Auto Blog Green reports that an ethanol-powered Mustang reached 252.78-miles-per-hour!

Many corn-starved children died for this ethanol breakthrough.

(1 Ratings)

Tags: alternative energies, Ethanol, Mark Jacobson, , Stanford University
Filed Under: Science
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Victory in Iraq = Lower gas prices.

Posted by Carlos C. on Tuesday, December 23rd, 2008 at 8:11 am

It’s true!

My Way

CAMARILLO, Calif. (AP) - The average national price of gasoline fell 9 cents in the past two weeks, bringing it to its lowest point in nearly five years, according to a national survey released Sunday.

The average price of regular gasoline Friday was $1.66 a gallon, oil industry analyst Trilby Lundberg said. The price of mid-grade was $1.80 a gallon and the price of premium was $1.92 a gallon.

The last time gas prices dipped so low was in February 2004, Lundberg said, when the national average for regular was also around $1.66 a gallon. The all-time high was on July 11, 2008, when the price peaked at $4.11 a gallon.

Of cities surveyed, the nation’s lowest price was $1.37 in Cheyenne, Wyo. The highest price was $2.41 in Anchorage, Alaska. In the continental United States, the highest price was on New York’s Long Island, at $1.92.

Also, prices are at $39.58 for a barrel of light sweet crude oil.

I am not able to drive due to my eyesight, however, I am glad to see gas prices have lowered to 2004 levels.

Perhaps we will see $1.00-a-gallon gas next year.

Hat Tip: InstaPundit

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Filed Under: News & Politics
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Oil price drops, but gas prices creep up.

Posted by Carlos C. on Friday, December 19th, 2008 at 4:22 pm

The price of oil per barrel closed today at $33.87, but gas prices rose slightly this week.

The price for a regular gallon of gasoline rose 2 cents to $1.68.

The price for a premium gallon of gasoline rose 1 cent to $1.84.

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Filed Under: = BREAKING NEWS =, News & Politics
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OPEC cuts oil production.

Posted by Carlos C. on Wednesday, December 17th, 2008 at 6:55 am

siren2

OPEC has decided to cut production of 2,000,000 million barrels of oil per day.

Russia will also cut production of 320,000 barrels of oil per day.

The price of oil per barrel is expected to increase in January, but will fall back to its current price level.

The price of oil is currently at $44.91 and may rise during today’s trading.

Breaking News…

Developing….

UPDATE 1: breitbart.com

The OPEC oil cartel agreed on Wednesday to a record output cut of two million barrels a day, the Saudi Arabian oil minister said, with non-member producers also ready to slash 600,000 barrels.

“There is a consensus on a cut of two million barrels a day,” Saudi Arabian Oil Minister Ali al-Nuaimi told reporters as a meeting of the Organization of Petroleum Exporting Countries got underway here.

The OPEC cut from headline output of 27.3 million barrels per day, which would be the biggest reduction ever, could be complemented by combined reductions from non-OPEC members Russia and Azerbaijan of 600,000 barrels a day.

Together these moves would take 2.6 million barrels of oil off the market.

The OPEC cut amounts to about seven percent of the cartel’s production.

OPEC ministers called the meeting here to take action against a steady slide in oil prices, which are now 70 percent off their highs of 147 dollars a barrel in July, as demand dries up in recession-hit industrialised consuming nations.

Time to drill in ANWR!

Oh, wait.

(1 Ratings)

Tags: , OPEC,
Filed Under: = BREAKING NEWS =, News & Politics
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Oil and Gas prices continue to fall!

Posted by Carlos C. on Friday, December 5th, 2008 at 5:20 pm

The price for a barrel of light-sweet crude oil closed at $40.81!

The price per barrel of oil from July 11th’s oil closing price of $147.27. The price for a regular gallon of gasoline on July 11th was $4.12.

The price for a regular gallon of gasoline fell six cents from last week and is now at $1.77.

The price for a premium gallon of gasoline fell seven cents from last week and is now at $1.94.

(1 Ratings)

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Oil and gas prices keep falling!

Posted by Carlos C. on Wednesday, November 12th, 2008 at 6:52 am

Some good news…

Oil has dropped to $58.50 per barrel.

The price of oil per barrel has dropped $89 since the $147.50 close in July, 2008.

The price for a regular gallon of gasoline is $2.22 nationwide.

The price for a premium gallon of gasoline is $2.38 nationwide.

Gas prices in some parts of America are near $1.60 a gallon.

The price for a gallon of gasoline has fallen more than $2.00 since July, 2008.

However, the price of addiction to foreign oil will surpass $3,874,100,000,000.00 today. That number will continue to climb higher each and every day. Perhaps it is time to drill in ANWR and off the coast of Florida?

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OPEC cuts oil production.

Posted by Carlos C. on Friday, October 24th, 2008 at 5:18 am

OPEC leaders met in Vienna today and decided to cut oil production by 1.5 million barrels per day.

This cut in production is a response to falling oil and gas prices around the world, especially in America.

The price of oil per barrel is currently at $64.00.

Breaking News…

Developing…

UPDATE 1: Reuters.com

VIENNA (Reuters) - An emergency OPEC meeting on Friday was expected to cut production by at least a million barrels per day as a first step toward halting a deep price slide.

International benchmark U.S. crude has slumped by more than 50 percent from a record high of $147.27 hit in July. On Friday it was trading around $67 a barrel.

OPEC ministers have said they have to balance their own needs with those of the wider economy and have so far disagreed over the size of any cut.

The core Gulf producers, which have relatively low price requirements and are nervous about further destruction of demand in consumer countries, would prefer a relatively modest cut, delegates have said.

Venezuela, Iran and Libya have all favored a deeper output reduction at the formal session of the Organization of the Petroleum Exporting Countries, expected to start at around 9 a.m.

An OPEC delegate told Reuters on Friday the group was considering two supply cut options. It could cut by one million barrels per day (bpd) now and review the situation at its next planned meeting in December.

Alternatively, it could cut 1.5 million bpd immediately, the delegate said.

So, Nancy Pelosi, when do we start drilling for our own oil? Inside your head?

(1 Ratings)

Tags: , OPEC
Filed Under: = BREAKING NEWS =, News & Politics
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Dow drops! Oil price drops!

Posted by Carlos C. on Monday, September 29th, 2008 at 4:09 pm

Worst point drop ever!

The Dow dropped 777.68 points!

Oil dropped $11.31 to $95.58 per barrel!

Gold shot up $22.80 to $911.30 an ounce!

Breaking News…

Developing…

UPDATE 1:
JPost.com

Oil slides $10 a barrel on weak demand outlook

Oil prices have fallen more than $10 a barrel as worries that a US bailout plan won’t win legislative approval increase fears of a prolonged economic downturn.

Monday’s steep decline came as House lawmakers were voting on the $700 billion rescue plan. Analysts say if the plan fails to win approval and the economy weakens further, consumers and businesses around the globe would likely cut back on energy use even more.

Light, sweet crude for November delivery briefly dropped $10.01 to the $96.88 level on the New York Mercantile Exchange. Prices quickly pared some losses, rising to $98.22 a barrel.

The Dow Jones and Oil prices continue to fall…

Developing…

UPDATE 2: It looks like the Dow Jones will settle at 10365.45 points. The Dow has fallen 777.68. This is worse than when the Dow fell 710 points on September 17, 2001, the first day the markets opened after 9/11.

Gold shot up $22.90 to $911.40 an ounce.

Oil is down $11.33 to $95.60 per barrel.

UPDATE 3:

WASHINGTON - In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation’s financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. The Dow Jones industrials plunged nearly 800 points, the most ever for a single day.

Democratic and Republican leaders alike pledged to try again, though the Democrats said GOP lawmakers needed to provide more votes. Bush huddled with his economic advisers about a next step. The House was to reconvene on Thursday instead of adjourning for the year as planned.

The stock plunge began even before the 228-205 vote to reject the bill was officially announced on the House floor. The decline for the day surpassed the 721-point previous record, on the day after the Sept. 11, 2001, terror attacks, though in percentage terms it was well short of the drops on Black Monday of October 1987 and at the start of the Depression.

If you have 401k plans, as well as IRA and Roth IRA accounts, please do yourself a favor and do NOT check these accounts. Save yourself the heartache and wait until the market goes back up.

UPDATE 4: The Dow Futures are already down 600 points.

(3 Ratings)

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Oil spikes $25 a barrel!

Posted by Carlos C. on Monday, September 22nd, 2008 at 2:55 pm

breitbart.com

NEW YORK (AP) - Oil prices spiked more than $25 a barrel Monday—the biggest one-day price jump ever—as anxiety over the government’s $700 billion bailout plan battered the dollar and touched off frenzied buying of safe-haven investments including crude.

Light, sweet crude for October delivery jumped as much as $25.45 to $130 a barrel on the New York Mercantile Exchange before falling back somewhat to trade at $123.77,up $19.22. The contract was set to expire at the end of the day, adding to the volatility; the October price began accelerating sharply in the last hour of regular trading.

Crude has gained about $40 in a dramatic four-day rally that has at least temporarily halted oil’s steep two-month slide below $100. At this rate, crude is within striking distance of its all-time record of $147.27, reached in July.

The Nymex temporarily halted electronic crude oil trading after prices breached the $10 daily trading limit. Trading resumed seconds later after the daily limit was increased.

The huge rally was poised to shatter crude’s previous one-day price jump of $10.75, set June 6.

Oil’s sharp gains came as energy traders grappled with the implications of the government’s proposed $700 billion initiative to stem the U.S. financial crisis by absorbing billions of dollars of banks’ bad mortgage-related securities. Anxiety over the plan also sent stocks sharply lower Monday; the credit markets were calmer than they were last week, but still showing the effects of investors’ nervousness.

“They’re going to have to continue auctioning off a whole lot of Treasurys to finance these projects, so the dollar is going to suffer,” said Matt Zeman, head trader at LaSalle Futures in Chicago. “Right now it’s fear and anxiety driving people who want tangible assets.

The price per barrel of oil is currently at $120. This represents a one-day increase of $15.45.

The price of a regular gallon of gasoline is $3.74, and the price of a premium gallon of gasoline is $4.01.

NY Times reports that there is a gas shortage in the South. Drivers in Atlanta, Nashville and Tallahassee reported lengthy, gas-fueled quests to refuel. The shortage is expected to last for 1 or 2 weeks. Some of the refineries in Texas are not fully functional yet.

I see that customers are desperate enough to buy the crap gas offered at Citgo.

UPDATE 1: Oil is down to $108.86 per barrel. That is a $6.10 jump from today’s opening of $102.76.

UPDATE 2: CS News is reporting that Virginia is also experiencing gas shortages.

(2 Ratings)

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Coke dealer charges fuel surcharge.

Posted by Carlos C. on Friday, September 19th, 2008 at 11:55 am

The Smoking Gun

SEPTEMBER 18–Spiraling gas prices led an Indiana drug dealer to levy a fuel oil surcharge on customers purchasing cocaine, according to investigators. Anthony Salinas, 18, tacked on the gasoline surcharge when he sold a confidential police source coke on two occasions in June. While arranging one buy, Salinas told the source that a quarter-ounce of cocaine would cost $240–$215 for the drug itself and “$25.00 for gas money to deliver the cocaine,” according to the court affidavit. Salinas, a Hammond resident, was named last week in a two-count felony information charging him with “dealing in cocaine.”

Awesome!

I do not blame Salinas for charging a gas surcharge. Oil is again and gas prices are creeping back up to $4.00 a gallon.

(3 Ratings)

Tags: Anthony Salinas, cocaine, ,
Filed Under: Humorous
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