How high will Brent crude go?

[yclept]

CNG makes a lot of sense to me since the infrastructure is already in place. However, whether the excess capacity is there is one question I have. Also, the long term cost of home compressors is another thing that would worry me. Home 220V charging stations are not inexpensive to put it and a home compressor would be even more I'm thinking.

Actually it could probably be reasonable from a cost point of view. It can be a high-pressure, low volume compressor with a storage tank since there would be lots of hours for it to build back up after having been used to fill the vehicle. So then the question becomes where in your house do you want a compressed-gas bomb that will likely receive no maintenance until something goes wrong with it? Probably the best place will be in the garage next to the wall that adjoins the nursery!
Pick-up trucks that I've seen running CNG have a big cylindrical tank (my guess would be about 800#, and among other things, I was a steel fabrication estimator) that takes up the front 2-3 feet of the bed. So-located, it's pretty well protected in an accident.
Honda has a Civic that runs on CNG. I haven't found any drawings that show the fuel tank location or size -- the car might have little trunk space (my guess). The range is about 200 miles on a tank of fuel -- fine for every-day use for most people, though I don't think I'd want to head off to the wilds of Idaho, Wyoming, or Montana in one of them. In fact, the government fuel location maps show nothing between Reno NV and Twin Falls, ID, which is a fair stretch of the legs! Likewise, nothing between Reno and Salt Lake City. On the other hand, there are about 5 fueling locations within a few miles of my house (closest is 2.1 mi.). So in my case, I wouldn't need a home-fueling compressor.
But, this is a stay-at-home car until more fueling locations exist.

Here's a link to the government alternative fuel locator www.afdc.energy.gov/afdc/locator/stations/

[tyfighter3]

Hey they are starting to turn those water trucks into NG.
www.ogj.com/index/article-display/6755175222/articles/oil-gas-journal/drilling-production-2/production-operations/unconventional-resources/20100/april-2011/lng-trucks_to_provide.html?cmpid=EnlDailyApril62011

[Value Buy]

Looks like the price for oil has been temporarily topped due to Goldman Sachs announcing yesterday they were liquidating their latest bullish long physical oil/commodity positions and recommending participants unwind the positions.
Who said markets are not manipulated and controlled?

[rovo]

I also read where Saudi Arabia was thinking about or has cut production by 1M barrels a day because of weak demand. The numbers due at 10:30 AM tomorrow may give us a better indication of demand, at least USA demand.

[tyfighter3]

Rovo, what ercks me is that you know the oil producing company's in this country have already hedged their oil production over the next 6 months or so at over a 100 per barrel. They are going to make tons of money.

[Value Buy]

Apr 12, 2011 21:21:41 GMT -5 tyfighter3 said:

Rovo, what ercks me is that you know the oil producing company's in this country have already hedged their oil production over the next 6 months or so at over a 100 per barrel. They are going to make tons of money.

Ain't America great?

And yet my Chevron holding is diminishing........

[Value Buy]

Brent is $123.70
West Texas is $112.22

[tyfighter3]

XOM reporting tomorrow. They do have some exposer in the ME but I don't think it will matter.

[Value Buy]

Apr 26, 2011 22:33:59 GMT -5 tyfighter3 said:

XOM reporting tomorrow. They do have some exposer in the ME but I don't think it will matter.

Just received their summary annual report the other day.
earnings per share for
2010, $6.24 up from $3.99 in 2009.
2008 was the biggie. $8.66 a share
Net income for 2010 $30,460,000,000
2009, $19,280,000,000
First qt results should continue showing stronger results

[Value Buy]

I guess 11 billion in profits are not enough to support the stock price

[upstatemom]

Oil dropped 10% yesterday, now I see a headline that Goldman is saying its going to hit highs. Do you think those Goldman guys are in a panick that they will lose their shirts??

[yclept]

I don't know what interest Goldman Sucks may have in oil. The only thing I know about them is that they are a bunch of God-damned thieves. Most of the current and former executives and employees belong in jail (or better yet, need to be taken out behind the barn and shot -- we could probably pay off the national debt just by auctioning off the rights to put bullets in the back of their heads).
Excerpts from Wikipedia:

California bonds
On November 11, 2008, the Los Angeles Times reported that Goldman Sachs, which earned $25M from underwriting California bonds, had advised other clients to "short" those bonds. Shorting is essentially betting that the state will default on the bonds, which serves to drive up the cost of the issue to the state. While some journalists criticized the contradictory actions, others pointed out that the opposite investment decisions undertaken by the underwriting side and the trading side of the bank were normal and in line with regulations regarding Chinese walls.

Personnel 'revolving-door' with U.S. government
During 2008 Goldman Sachs received criticism for an apparent revolving door relationship, in which its employees and consultants have moved in and out of high level U.S. Government positions, creating the potential for conflicts of interest. Former Treasury Secretary Paulson was a former CEO of Goldman Sachs. Additional controversy attended the selection of former Goldman Sachs lobbyist Mark Patterson as chief of staff to Treasury Secretary Timothy Geithner, despite President Barack Obama's campaign promise that he would limit the influence of lobbyists in his administration. In February 2011, the Washington Examiner reported that Goldman Sachs was "the company from which Obama raised the most money in 2008" and that its "CEO Lloyd Blankfein has visited the White House 10 times."

Greece and European sovereign debt crisis
Goldman was criticized for its involvement in the 2010 European sovereign debt crisis. Goldman Sachs between the years 1998–2009 has been reported to systematically help the Greek government to mask its national true debt facts. In September 2009, though, Goldman Sachs among others, created a special Credit Default Swap (CDS) index for the cover of high risk national debt of Greece. The interest-rates of Greek national bonds have soared to a very high level, leading the Greek economy very close to bankruptcy in March 2010 and yet again in May 2010.

Insider trading cases
In 1986, David Brown was convicted of passing inside information to Ivan Boesky on a takeover deal. Robert Freeman, who was a senior Partner, who was the Head of Risk Arbitrage, and who was a protégé of Robert Rubin, was also convicted of insider trading, for his own account and for the firm's account.
In April, 2010, Goldman director Rajat Gupta was named in an insider-trading case. It was said Gupta had "tipped off a hedge-fund billionaire," Raj Rajaratnam of Galleon Group, about the $5 billion Berkshire Hathaway investment in Goldman in September, 2008. According to the report, Gupta had told Goldman the month before his involvement became public that he wouldn't seek re-election as a director. In early 2011, with the delayed Rajaratnam criminal trial about to begin, the United States Securities and Exchange Commission (SEC) announced civil charges against Gupta covering the Berkshire investment as well as confidential quarterly earnings information from Goldman and Procter & Gamble (P&G). Gupta was board member at P&G until voluntarily resigning the day of the SEC announcement, after the charges were announced. "Gupta was an investor in some of the Galleon hedge funds when he passed the information along, and he had other business interests with Rajaratnam that were potentially lucrative.... Rajaratnam used the information from Gupta to illegally profit in hedge fund trades.... The information on Goldman made Rajaratnam's funds $17 million richer.... The Proctor & Gamble data created illegal profits of more than $570,000 for Galleon funds managed by others, the SEC said." Gupta was said to have "vigorously denied the SEC accusations." He is also a board member of AMR Corp..

[Value Buy]

We keep hearing how much oil China is buying.
I have to wonder, have they ever searched for oil in their northern areas, or around the Gobi Desert?
I find it very hard to believe, they do not have huge untapped oil reserves.