Oil Slips, Saudi Signals Lots More Crudegreenspun.com : LUSENET : TB2K spinoff uncensored : One Thread
SO MUCH FOR ANYONE THAT THINKS **Y2k** had ANYTHING TO DO WITH THE RISE IN THE PRICE OF OIL.
OPEC HAS THE OIL AND NOW WILL SHIP IT.
Oil Slips, Saudi Signals Lots More Crude March 15, 2000 9:06 am EST
LONDON (Reuters) - Nervous oil prices retreated on Wednesday on strengthening signals that major producers will free up supplies to sate thirsty refiners at the beginning of the second quarter.
North Sea benchmark Brent Blend crude for April delivery had fallen 62 cents to $27.72 per barrel by 1325 GMT while U.S. marker NYMEX April crude futures traded 43 cents off at $31.26.
Constructive overnight data showing draws across the board at U.S. crude and products' stockpiles were overshadowed by continued preoccupation over the future output policy of the Organization of the Petroleum Exporting Countries (OPEC).
Day-earlier comments from OPEC heavyweight Saudi Arabia pressured prices as the market continued to build in expectations of bigger oil flows from April.
A Saudi source said Tuesday that the kingdom would support an output hike from April 1 to meet expected refiner demand for "lots" more oil.
"The trend right now is for OPEC and non-OPEC producers to increase production from the beginning of the second quarter by an amount reflecting expected demand," the Saudi source said.
The source said the market "needs more oil and lots of it." The exact amount of the increase would be decided when OPEC members meet on March 27 in Vienna.
VENEZUELA PREPARES FOR NEW OUTPUT TALKS
OPEC's Venezuela said Wednesday its Oil Minister Ali Rodriguez would visit his Iranian counterpart Bijan Namdar Zanganeh in Tehran this Saturday in an effort to reach common ground on additional OPEC oil supplies.
Venezuela and Saudi Arabia are believed to hold a common position on how much oil OPEC should pump when current output curbs expire at the end of March.
OPEC price hawk Iran is holding out for about a 700,000 barrels-per-day rise while the Saudis and Venezuelans are believed to want nearer 1.5 million bpd.
The Saudis and Iranians are agreed that any extra output will come on top of current leakage above official quotas -- estimated at between 1.2 million and 1.4 million barrels daily.
Rodriguez will travel to Kuwait and Iraq after his stop in Tehran. Analysts have said OPEC needs to raise output by more than two million bpd to restore world stocks to normal levels.
Fresh figures from the American Petroleum Institute (API) on Tuesday showed that U.S. crude and products' inventories continue to dwindle.
The API figures showed a 2.05 million barrel fall in U.S. gasoline stocks in the week to March 10. Distillate inventories were down 2.37 million barrels and crude stocks off by 3.56 million barrels.
-- cpr (firstname.lastname@example.org), March 15, 2000
Now if we can just:
#1 Keep our Oil & Gasoline Pipelines from Rupturing
900,000 gallon Kentucky oil pipeline ruptures (happened on 1/27/00 news story from 2/16/00 http://www.winchestersun.com/HTMLpages/news1.html);
172,000 gallon Pennsylvania oil pipeline ruptures (happened on 2/5/00) (in a WILD LIFE PRESERVE - no less!)
(news story from 2/28/00 http://www.phillynews.com/inquirer/2000/Feb/28/city/STURT28.htm);
500,000 gallon Texas Gasoline pipeline rupture that is affecting the Dallas water supply! (news story from 3/12/00 http://dallasnews.com/metro/47217_FUELSPILL12.html)
#2 Keep refineries from BLOWING UP (if ya want links, let me know. I have several)
#3 Figure out why natural gas production is down 1.5 BILLION cubic feet PER DAY so far this year! The daily consumption of California is 1.3 BILLION cubic feet per day. (news story from 2/22/00 http://quote.bloomberg.com/news2.cgi?T=energy_refout.ht&s=77582105)
#4 Figure out why Nigeria and Zimbabwe (Nigeria is an oil exporting country) are and have been RATIONING GASOLINE! (news story from 2/4/00 http://www.nigerianews.net/cgi-local/getNewsArticle.cgi?id=7403)
But don't let ME rain on your parade.
Ooops, there goes another refinery http://unam.netgate.net/novedades/nna71403.htm
-- Y2K ain't over yet (the sky may@yet fall.com), March 15, 2000.
The last link I gave you seems to be dead. Here is the article....
The News Mixico City, March 14, 2000.
GAS PLANT BLAST INFLAMES NEIGHBORS
By JOHN HECHT
The News Staff Reporter
Residents in a northern Mexico City neighborhood on Monday blocked two main avenues to demand city officials permanently close a gas plant where a Sunday explosion nearly sent their community up in flames.
The Energy Secretariat said the privately owned plant will remain closed until federal investigators determine the cause of the explosion in the San Lorenzo Tlaltenango colonia. The Mexico City Attorney General's Office also launched an investigation into the incident.
On Sunday morning, more than 150 firefighters battled 90-foot flames at the distribution plant. After three hours, firefighters contained the blaze that left one fireman injured. Seven gas lines at a distribution plant caught fire and sparked a series of explosions. Firefighters said each gas pipeline had a 2,600-gallon capacity.
Regio Gas issued a statement saying the blast was not caused by a pipe explosion but by a high-pressure release from emergency blowout valves.
Residents took to the streets after observing gas distribution trucks entering the plant despite its apparent closure.
Protesters said the explosion brought back haunting memories from the past when another privately-owned gas plant erupted, leaving more than 500 people dead in San Juan Ixhuatepec, the State of Mexico. Thousands more were injured in the November, 1984 explosion. Investigations said a gas leak sparked the 1984 fire that swept the facilities and spread to surrounding homes, causing many household propane tanks to burst.
Had it not been for the fire department's swift response last Sunday, many neighbors feared they could have seen a repeat of the 1984 tragedy.
Neighbors interviewed by TV Azteca demanded Regio Gas close or move its facilities to a less populated area.
"It's very risky for all of us who have to live here," said one resident who wished to remain anonymous. "It's time they relocate. They should operate in areas that aren't so densely populated."
But Regio Gas said the plant was built 40 years ago when the area was primarily an industrial zone. The private company said they have tried to negotiate with neighbors but their offers to purchase their land have been met by homeowners' unreasonable selling prices. In many cases, Regio Gas said it finds itself negotiating with neighbors that are not legal homeowners.
-- Y2K ain't over yet (the sky may@yet fall.com), March 15, 2000.
It seems the first link I provided has been replaced with a newer article about some other topic. Here is/was the original article....
Marathon continues cleanup of crude
By CATHY GILKEY Sun Staff Report
While cleanup crews and environmental officials have stood down from emergency operations status, Marathon Ashland Petroleum workers and contractors remain at the Southwind Golf Course in their continuing efforts to remove any remaining oil from the ground and the Two Mile Creek.
About 30 people remain on-site, down from a peak of 500 a week or so after the spill was reported, said Troy Reynolds, spokesman for MAP.
The Marathon Ashland Petroleum oil transmission pipeline ruptured Jan. 27, spilling close to 900,000 gallons on the Southwind Golf Course and into Two Mile Creek. Workers were able to stop the oil before it reached the Kentucky River.
But as a precautionary measure, Winchester continues drawing water from its Carroll E. Ecton Reservoir as the Winchester Municipal Utilities Co. still is testing Two Mile Creek and the Kentucky River for any traces of petroleum derivatives.
On Feb. 3, WMU officials decided to switch to the reservoir when benzene and toluene were found in samples taken from Two Mile Creek below the containment area. Marathon Ashland Petroleum officials confirmed that their testing found trace quantities of hydrocarbons. Benzene and toluene, both harmful if ingested over a long period of time, are hydrocarbons.
"We'll continue to monitor the water," said WMU General Manager Vernon Azevedo. "When we have a comfortable level, we'll switch back."
Azevedo said a "comfortable level" would be undetectable levels of the two compounds.
If the most recent water tests come back negative, WMU will switch back to the Kentucky River as its water source, he said.
Winchester is one of only five utilities in the state to have two separate water supplies.
With the recent rain, Two Mile Creek should be more flushed out and any leftover oil or oil compounds could be diluted even more, he said.
Reynolds agreed that the rain helped flush the area and said workers continue to skim any oil off the surface. Two dams that allow water to flow but stop oil have been constructed at the containment site.
Two of the trailers used as a command post at the golf course have been removed and the rest will be leaving Friday, Reynolds said.
A new office will be opening Friday at 47 S. Main St. Suite 205, to be used as a contact point for the community and MAP. The office's phone number will be 737-0454.
No price tag has been attached to the spill, Reynolds said.
"Our primary concern is the complete restoration of the area, regardless of the cost," he said.
MAP officials have been meeting with community groups and speaking with residents about the spill and their efforts to restore the area. Gary Wieland, deputy incident commander for MAP now working at the site, recently spoke at a Rotary Club luncheon and other officials addressed the public at a forum Feb. 7.
MAP donated chainsaws and other small pieces of equipment to last weekend's annual auction of the Winchester and Clark County Kiwanis clubs to raise funds for charity projects. Reynolds said it was part of MAP's effort to work with the community in the aftermath of the spill.
Subscribe to The Sun! Call 744-3123
-- Y2K ain't over yet (the sky may@yet fall.com)), March 15, 2000.
Keep believing. Its all "Y2k" right?
**GOT PROOF**?? Got any evidence that the random collection of accidents you list is any greater percentage than last year or an average of the last 20?
The phones are one, the TV works, the water from the tap is there, the Power Plants are all working except for random things that happened before, during and after y2k (and will long after we die).
But you....you just keep the "Y2k Faith". Hurry and buy those Energy Futures and pretending you're "investing".
Don't forget to go to Paula's church service at GWU for the Believers.
You can hold hands, nod your heads from left to right and moan about "everything is wrong".
But don't jump the 99.999% of the people who don't pay the slightest attention to this anymore.
-- cpr (email@example.com), March 15, 2000.
"But don't jump the 99.999% of the people who don't pay the slightest attention to this anymore. "
Why are you here?
-- - (firstname.lastname@example.org), March 15, 2000.
>>>The phones are one, the TV works, the water from the tap is there, the Power Plants are all working except for random things that happened before, during and after y2k (and will long after we die).
>>> But you....you just keep the "Y2k Faith". Hurry and buy those Energy Futures and pretending you're "investing".
Hmmmm.... don't ever remember stating anything like that. Can you provide a link to my comments? To use your words, " **GOT PROOF** " ?
>>>Got any evidence that the random collection of accidents you list is any greater percentage than last year or an average of the last 20?
RANDOM? 20 Refineries went DOWN unexpectedly due to explosions/fires/leaks in January alone! There were 69 fires and explosions at refineries & pipelines in January as well! Thats 'random'??
In December Saudi Arabia announced they would bridge any oil gap experienced due to any Y2K glitchs that may occur. Within the past month they stated there was a 'glut'.
In January it was reported Austrailia grounded all small aircraft because the Mobil Oil company refinery there had MAJOR problems in it's refinery process. These planes and helocopters were grounded all of January and most of February.
>>>But don't jump the 99.999% of the people who don't pay the slightest attention to this anymore.
I think anyone paying for gas/diesel is taking notice. Especially since gasoline is now over $2.00 a gallon and climbing.
-- Y2K ain't over yet (the sky may@yet fall.com)), March 15, 2000.
I'm not here to argue over y2k related or not, truth is nobody knows for sure. But, I have noticed the increase. As I'm sure we all have. I went yesterday to my station, a Shell at the corner of the street and ALL the regular unleaded had "out of order" signs on them!!! ALL of THEM...forcing me to pay the mid grade price. Sure, I could have went on down the street (with tank below e, cuz me and spouse have an ongoing fill er up war going on, which is neither here nor there, but it did prevent me from venturing elsewhere, no i am not blonde!@)but i couldnt. My question, anyone else have this happen to them yet? or is it just consumer's luck?
-- consumer (email@example.com), March 15, 2000.