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uscitizen
08-30-2006, 07:49 AM
BP hit by oil trading probe
Feds eye whether the oil giant manipulated markets for crude, unleaded gasoline.
August 29 2006: 1:38 PM EDT

NEW YORK (Reuters) -- U.S. federal investigators are examining whether BP Plc manipulated crude oil and unleaded gasoline markets, the company said on Tuesday.

BP (down $1.15 to $67.15, Charts) confirmed a report in The Wall Street Journal that an investigation was underway, but declined further comment.

"We are aware of the investigations and we are complying with requests [on the investigation], as we always do," a BP spokesman in London said.

The Journal said the federal investigations signal a rise in regulation of the major oil company. It cited lawyers and traders close to the case.

BP already faces allegations from the U.S. Commodity Futures Trading Commission that it manipulated the U.S. propane market in 2004.

For the full story goto:
http://money.cnn.com/2006/08/29/news/international/bp.reut/index.htm?cnn=yes

uscitizen
08-30-2006, 07:52 AM
Gas may be headed back near $2
Industry analyst sees prices between $2 and $2.50 by Thanksgiving.
August 30 2006: 9:47 AM EDT

NEW YORK (CNNMoney) -- The recent drop in prices at the pump could pick up steam, driving gasoline sharply lower in coming months.

For the full story goto:
http://money.cnn.com/2006/08/30/news/economy/gas_prices/index.htm?cnn=yes

Hmm, timing or connection ?

Damocles
08-30-2006, 08:34 AM
I'm just glad that I'll be able to afford to drive my truck to work just in time for the winter weather! The motorcycle was not going to be fun.

uscitizen
08-30-2006, 08:55 AM
Ahh but according to the article it sort of depends on hurricanes staying out of the gulf.

uscitizen
08-30-2006, 08:56 AM
How many closed military bases have are we buiding new refineries on ?

Damocles
08-30-2006, 09:05 AM
How many could we with the current restrictive laws?

klaatu
08-30-2006, 09:21 AM
If this happens and sustains for a period of time .. watch the domino effect ... Housing will move again..... Watch for a drop in Interest rates as well ....

klaatu
08-30-2006, 09:25 AM
Ahh but according to the article it sort of depends on hurricanes staying out of the gulf.

The Gulf "usually" gets hit in July/August. Sept. through Nov ..once again ..."usually" effects the East Coast. With El nino or nina or what ever ... and the Ocean temp. a couple of degrees lower than last year ... things are lookin good. I have my fingers crossed.

uscitizen
08-30-2006, 10:20 AM
How many could we with the current restrictive laws?

does the EPA stuff apply to govt property the same ? And how would be easy for Bush if he wanted to do it, he has not been stopped on other questionable stuff like the constitution.

Damocles
08-30-2006, 10:22 AM
does the EPA stuff apply to govt property the same ? And how would be easy for Bush if he wanted to do it, he has not been stopped on other questionable stuff like the constitution.
Actually most of the most restrictive laws are state specific and the Feds still have to follow those laws for the State in which the property is...

The only place where only Fed law holds sway is the District of Columbia.

uscitizen
08-30-2006, 10:29 AM
I dunno the Chemical weapons bunkers down the road seem to be exempt.

Damocles
08-30-2006, 10:31 AM
I dunno the Chemical weapons bunkers down the road seem to be exempt.
They would get an exemption from the State.

At least as far as I understand it. But the largest reason is that this would be a commercial venture, thus it wouldn't be the feds running it, thus it falls within the law of the State.

uscitizen
08-30-2006, 10:35 AM
I figure considering the need for energy most states would be reasonable on the construction of the refineries. Personally I think they should located in the areas of highest consumption of gasoline to save on transportations costs and risks.

Damocles
08-30-2006, 10:39 AM
I have no idea. I have yet to see one state create new laws on new refineries.

uscitizen
08-30-2006, 10:47 AM
Me neither Damo, politics sucks . Just sittin on their fat arses, no real moves towards promoting increased energy independance either. I would fire the lot if I could.

Damocles
08-30-2006, 10:49 AM
Me neither Damo, politics sucks . Just sittin on their fat arses, no real moves towards promoting increased energy independance either. I would fire the lot if I could.
No kidding. The idea that the "war on muslim terrorism" could be won in the laboratories seems foreign to them.

uscitizen
08-30-2006, 10:51 AM
The less oil we buy from the ME the weaker the radical Islammic depending on that money become.

Damocles
08-30-2006, 11:04 AM
The less oil we buy from the ME the weaker the radical Islammic depending on that money become.
Exactly. If I were President on 9/11/2001 one of the first things I would have done was to create the goal of energy independance in a decade. I would have funded it and gave incentives... It would have been a national priority. I also would have asked the citizens to curtail energy spending...

And the ads about the drugs funding terrorism would have been constantly running.

But heck, I'm not the President.

uscitizen
08-30-2006, 11:21 AM
Exactly. If I were President on 9/11/2001 one of the first things I would have done was to create the goal of energy independance in a decade. I would have funded it and gave incentives... It would have been a national priority. I also would have asked the citizens to curtail energy spending...

And the ads about the drugs funding terrorism would have been constantly running.

But heck, I'm not the President.
Heck I would vote for ya :king:

Topspin
08-31-2006, 08:19 AM
weaker comment one of you smartes ever in imho usc.
And yet we have billions of barrells gone undrilled for domestically because of the turbo-lib moveon.org coallition.

uscitizen
08-31-2006, 08:30 AM
What has the Bush govt done to strengthen our energy independence and diversification from oil Spinner ? A little bit but as all things Bush wimpy.

The less oil we buy from the ME the weaker the radical islamic types become.
btw I am for drilling for oil where it is. Ie the CA, FL and East coasts as well as in Alaska. You confuse me with a radical greenie. I have some green, but am a realist.

If we had spent the money spent in Iraq on promoting inergy independence we would be moving in that direction and our economy would be booming from the cash influx .

but we know where your loyalties lie since you work for big oil.

Topspin
08-31-2006, 08:54 AM
and we know where you knowledge base is vs someone in the industry through hard times for 25yrs.
Bush has done more than any president before him.
Hybrid, solar, and wind industries are getting off the ground because of the new legistlation. Try reading up on it a little. As usual bitchin is prefferable for you.

uscitizen
08-31-2006, 09:03 AM
Bush has not done more than any other pres before him. Get your facts straight.
Well perhaps he has in a bad way, but not in a positive way for energy independance.

Topspin
08-31-2006, 09:35 AM
please get a clue and read beside crying all the time.
250,000 hybrids per year zero before him
Solar industry growing at 30%
these will generate billions in revenue, would be exponentially less without the energy bill.

uscitizen
08-31-2006, 09:40 AM
UMMM.......Bush is like gore he invented hybrids ROFLMAO. Can't you make logical links in knowledge spinner ?
Was hybrids or the tax breaks for them around first ?

Topspin
08-31-2006, 09:42 AM
How many of the 250,000 would have been sold without a couple thousand off to help offset the premium?
Answer little man is about half, check your facts your woefully unequiped for this particular or any energy battle. LOFL

uscitizen
08-31-2006, 09:44 AM
LOL, how about addressing the topic of this thread tennis twinkie ?

Topspin
08-31-2006, 09:47 AM
you ask about bush on energy policy, I smash you on it and you claim uncle. OK lol

uscitizen
08-31-2006, 09:51 AM
I claim uncle ??? You been hanging with dixie or something ?

Too wussy oil guy to talk about your industry being investigated ?
Spin and bail if you want.

Topspin
08-31-2006, 10:00 AM
you redirected to bush
I don't care about bp, if they did wrong they should be punished. I'm not for breakng the law cause I'm in that industry the implication is juvinile. And if they are convicted it doesn't mean a hill of beans every industry has some bad apples including yours.
You redirected to Bush and I thrashed you on it. Period

uscitizen
08-31-2006, 10:13 AM
And you redirected to moveon, so what is your point ?