On Mon, 7 Jun 2010 12:37:05 -0700 (PDT), Tim
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.


What gives?

There is a big inventory of oil in storage that was bought in the
futures market in the hope that prices would rise. Prices have been
stable to down however because of soft demand/economic turmoil. Now
the inventory has to be worked off to avoid long term storage costs.

On Jun 8, 8:30*am, Wayne.B wrote:
On Mon, 7 Jun 2010 12:37:05 -0700 (PDT), Tim
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. *over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.

What gives?

There is a big inventory of oil in storage that was bought in the
futures market in the hope that prices would rise. *Prices have been
stable to down however because of soft demand/economic turmoil. *Now
the inventory has to be worked off to avoid long term storage costs.

Hey Wayne. When you make it back to Florida is you're boat going to
get a fresh undercoating?

We don't want that baby to rust in all that salt water, y'know...


?;^ Q

On Tue, 8 Jun 2010 07:10:20 -0700 (PDT), Tim
wrote:

Hey Wayne. When you make it back to Florida is you're boat going to
get a fresh undercoating?

We don't want that baby to rust in all that salt water, y'know...

Heh, no worries there, very few rust issues with fiberglass and we're
only one year into a multi-year (hopefully) bottom job. I was under
the boat recently to replace a shaft zinc and the anti-fouling paint
seems to be doing well.

"Wayne.B" wrote in message
...
On Mon, 7 Jun 2010 12:37:05 -0700 (PDT), Tim
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.


What gives?

There is a big inventory of oil in storage that was bought in the
futures market in the hope that prices would rise. Prices have been
stable to down however because of soft demand/economic turmoil. Now
the inventory has to be worked off to avoid long term storage costs.

Wayne... Canuck doesn't understand "futures market," so perhaps you should
tell him again.

On Mon, 7 Jun 2010 12:37:05 -0700 (PDT), Tim
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.


What gives?

Oil is a world market. How many producing wells are there in the
world? Why do you think that one well would affect anything other
than BP's viability as a company, given the liability?

If it's not harvested and refined by BP, it'll be done by another.
Capacity is capacity. Evidently, there's more oil than there are
dollars to pay for it. Otherwise the price wouldn't be going down.

wrote in message
...
On Thu, 10 Jun 2010 10:03:34 -0700, jps wrote:

Oil is a world market. How many producing wells are there in the
world? Why do you think that one well would affect anything other
than BP's viability as a company, given the liability?

If it's not harvested and refined by BP, it'll be done by another.
Capacity is capacity. Evidently, there's more oil than there are
dollars to pay for it. Otherwise the price wouldn't be going down.

I guess the real question for BP will be if the TWO wells they are
drilling right now on the site will produce enough oil to pay for the
damage from the one that blew out. They were right about one thing.
There is plenty of oil down there. Maybe the government should put a
lien on those wells and garnish all the profits until the obligation
is fulfilled, It will certainly take decades to pay this back,
probably never.

Sounds about right. It's not like they didn't know this was a possibility or
that they never had a previous problem.

On Jun 10, 2:41*pm, "nom=de=plume" wrote:
wrote in message

...





On Thu, 10 Jun 2010 10:03:34 -0700, jps wrote:

Oil is a world market. *How many producing wells are there in the
world? *Why do you think that one well would affect anything other
than BP's viability as a company, given the liability?

If it's not harvested and refined by BP, it'll be done by another.
Capacity is capacity. *Evidently, there's more oil than there are
dollars to pay for it. *Otherwise the price wouldn't be going down.

I guess the real question for BP will be if the TWO wells they are
drilling right now on the site will produce enough oil to pay for the
damage from the one that blew out. They were right about one thing.
There is plenty of oil down there. Maybe the government should put a
lien on those wells and garnish all the profits until the obligation
is fulfilled, It will certainly take decades to pay this back,
probably never.

Sounds about right. It's not like they didn't know this was a possibility or
that they never had a previous problem.- Hide quoted text -

- Show quoted text -

You cold be absolutely right, But then again. maybe they thought some
catastrophy like this would never happen. like the guy that works with
a wire wheel or a grinder and doesn't wear saftey glasses.


someone warns them that they could get a piece of steel or wire in
their eye. and they say. "I've been doing this for X number of times
and "it hasn't happened yet" like that's a good excuse not to look at
the possablity of disaster. Or they thought that the accident was
always going to happen to someboody else.

Beats me, but with warnings abounding, it's obvious they should have
payed some attention.

On 6/7/2010 5:20 PM, wrote:
On Mon, 7 Jun 2010 12:37:05 -0700 (PDT),
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.


What gives?


It is just signalling a slowdown in the economy.
The folks in that area north of Atlanta where we were, were
complaining that the season was starting out slow for them and I know
things were slower than normal at Busch Gardens the week after school
let out. I suspect dad is either not working, working for less money
or can't afford to take time off.
I was really surprised at the lack of boat traffic in the Clearwater
Pass Inlet Saturday. Usually that is very busy.

The opressive heat and humidity might have had something to do with Sat.
being an off day. We took a bike ride to St. Pete pier but other than
that pretty much stayed in our little pup tent.

wrote in message
...
On Mon, 7 Jun 2010 12:37:05 -0700 (PDT), Tim
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.


What gives?


It is just signalling a slowdown in the economy.
The folks in that area north of Atlanta where we were, were
complaining that the season was starting out slow for them and I know
things were slower than normal at Busch Gardens the week after school
let out. I suspect dad is either not working, working for less money
or can't afford to take time off.
I was really surprised at the lack of boat traffic in the Clearwater
Pass Inlet Saturday. Usually that is very busy.


I am planning a trip to Northern Vancouver Island this summer. The guides
are crying the blues. their long time customers seem to be booking, but no
fresh faces. Happy to see a person from out of the area helping their
economy.

"Califbill" wrote in message
m...


wrote in message
...
On Mon, 7 Jun 2010 12:37:05 -0700 (PDT), Tim
wrote:

Soemthign doesn't make sense to me. with all the 'bubblin' crude
threatening the gulf of mexico, the price of oil sems to be dropping
instead of ging higher. over what, 33million gallons of crude wasted
in the water not counting multi billions in damages, you'd think that
those millions of gallons of oil being lost out of the world market
would cause a rise in price, but it seems the oposite. over the
weekend there was an approx. $3.50 drop in crude.
Same way as when the Alaskan pipeline was closed.

I like the lower pricing for everyne involved especially when I take
the boat[s] out, but something is really wierd about the supposed
'price and demand' theory.


What gives?


It is just signalling a slowdown in the economy.
The folks in that area north of Atlanta where we were, were
complaining that the season was starting out slow for them and I know
things were slower than normal at Busch Gardens the week after school
let out. I suspect dad is either not working, working for less money
or can't afford to take time off.
I was really surprised at the lack of boat traffic in the Clearwater
Pass Inlet Saturday. Usually that is very busy.


I am planning a trip to Northern Vancouver Island this summer. The guides
are crying the blues. their long time customers seem to be booking, but
no fresh faces. Happy to see a person from out of the area helping their
economy.

Yeah....well they haven't met you yet!