oil futures sub-page
where greed and profit go hand in hand
October 23, 2005 update
look at the following map ... look at where the oil rigs are (the green dots) ... and look at the paths of hurricanes katrina and rita ... katrina was manipulated far down and west in the gulf to make a clean sweep of the oil fields including the two huge critical refineries south east of new orleans ... also ... there is SOOOO much oil down there we should never need foreign oil and given the Venezuela has offered us enough oil to reduce gas prices and natural gas heating prices to less than a dollar a gallon ... what is the big deal ???? PROFIT AND GREED OF THE AMERICAN OIL COMPANIES (ooops i should have said multinational oil companies since then they do not pay any taxes on their profits)
August 30, 2005 report ... be sure to read the Sun Earth Connection sub page report for today !!!!!!! ... jim mccanney
August 29, 2005 report ... read the following AP oil futures report from Vienna ... if you still do not think these hurricanes are being manipulated ... here is the answer to a number of questions ...
who is doing it ? the US black ops mil guys
who is directing them to do this ? we have an oil president don't we ??
who does the pres really work for ? the IMF world bank which is the front organization for the world secret societies (yes they do more than just run the banks)
why are they doing this ? more than just oil prices ... this is about control ... control of the american public ... since they have always known that to control the world they need to take down the USA .. that is also why we have sieves for boarders and they cut a deal with Fox of Mexico to keep the flow of illegal aliens (not exactly the upper crust of the mexican population either) coming into the USA to bring crime and cheap labor to fill the gap of unemployed US workers
how are they directing the storms ? with satellites that were built and sent up a few years ago ... using the technique i developed to direct hurricanes AWAY from areas of concern (see the chapter in my weather book Principia Meteorologia chapter on weather manipulation) ... obviously the sick demented black ops guys are the black scientists of the black world leaders ... control is their game ... you are their quarry
now read the latest oil futures report after the path of hurricane katrina (they guided that baby just perfect ... notice how they just "missed" the major oil producing areas and facilities with past hurricanes ... they were dead on with katrina) ... remember that katrina is the 5th hurricane in less than a year to hit this area ... what are the chances of that you ask ... pretty good when you have our mil guys controlling them !!!
Katrina Nearing Oil, Refinery Operations
Monday August 29, 9:43 am ET
By George Jahn, Associated Press Writer
The Category 4 storm advanced on an area crucial to the U.S. energy infrastructure -- offshore oil and gas production, import terminals, pipeline networks and numerous refining operations in the southern states of Louisiana and Mississippi. Oil companies evacuated workers and shut down more than 600,000 barrels of daily production in the Gulf.
After slamming ashore, it charged toward low-lying New Orleans with winds of 145 miles per hour and the threat of an extremely dangerous storm surge.
"This is the big one," said Peter Beutel, an oil analyst with Cameron Hanover. "This is unmitigated, bad news for consumers."
Light, sweet crude for October delivery jumped as much as $4.67 a barrel to hit a high of $70.80 a barrel in electronic trading on the New York Mercantile Exchange, before slipping back to $69.71 by afternoon in Europe. That was still up $3.58 from its close on Friday in New York.
Gasoline traded at $2.1275 a gallon, up 20 cents, or 12 percent, while heating oil rose by more than 12 cents to $1.9587 a gallon.
Brent crude was not trading Monday, with London's International Petroleum Exchange closed for a bank holiday.
Hurricane Katrina threatened a 28-foot storm surge, forcing a mandatory evacuation of the below-sea-level New Orleans.
Katrina has already forced the shutdown of an estimated 1 million barrels of refining capacity and curbed offshore production, but analysts said the storm's potential damage to facilities was even more worrying.
"It's not only the suspension of production that's causing concern, it's the fact that we could see potential damage to the platforms, which would cause longer disruptions to production," said energy analyst Victor Shum of Texas-headquartered Purvin & Gertz in Singapore.
The Gulf of Mexico normally produces 1.5 million barrels of crude oil a day, or about a quarter of the United States' domestic output, according to the U.S. Mineral Management Service.
"It looks like the perfect storm to drive prices up," Shum said.
Katrina quickly grew from a smallish storm threatening Florida into a menacing hurricane in just a few days.
On Friday, the Nymex crude oil contract fell more than a dollar to $66.13 a barrel as many traders took profits on forecasts that Katrina would likely have little impact on U.S. refineries and production facilities in the Gulf of Mexico.
"But then the storm reloaded over the weekend, gained strength and set on a path toward the oil facilities," Shum said. "The people who sold on Friday are probably kicking themselves now."
Unlike last year's Hurricane Ivan, which only hit the edge of the oil and natural-gas producing areas in the central Gulf of Mexico, Katrina is plowing right through the heart of that region.
"If this thing knocks out significant quantities of refining capacity ... we're going to be in deep, dark trouble," said Ed Silliere, vice president of risk management at Energy Merchant LLC in New York.
PVM Oil Associates in Vienna, Austria, said Katrina had the potential to do more damage to southeastern Louisiana than Ivan, which damaged seven platforms, 100 underwater pipelines and shut down production at some facilities for several months.
Some analysts have said the only way to rein in surging prices would be for the United States to tap some of its petroleum reserves.
"President Bush could announce a release of supply from the Strategic Petroleum Reserve," said commodity strategist David Thurtell of Commonwealth Bank of Australia in Sydney. "(That's) the only thing that will prevent further significant price rises from here."
The Bush administration has said the petroleum reserves should be tapped only when there are disruptions of oil imports from overseas.
The Louisiana Offshore Oil Port, the largest oil import terminal in the United States, evacuated all workers and stopped unloading ships on Saturday.
Royal Dutch-Shell Group, BP PLC and ExxonMobil Corp. also evacuated offshore workers by Saturday.
ChevronTexaco Corp. evacuated all workers in the eastern and central Gulf of Mexico and nonessential workers in the western Gulf late Saturday, but company spokesman Matt Carmichael said Chevron will continue to produce 90 percent of its normal production by remote.
Shell estimated 420,000 barrels of oil and 1.35 million cubic feet of gas per day will be shut in at its central and eastern Gulf facilities. ExxonMobil said it has ceased daily production of 3,000 barrels of oil and 50 million cubic feet of gas.
French oil company Total SA said Monday it has joined the growing list of producers to evacuate from Katrina. Staff began leaving Friday, said Total spokesman Paul Floren.
Associated Press Writers Gillian Wong in Singapore and Justin Bachman in New York contributed to this report.
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