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more good news for AMEP but bad for the country.
KTGas prices may last six months By James R. Healey, USA TODAY The nation's energy chief says it will take six months for U.S. energy production and prices to return to pre-hurricane levels, and he hints at energy shortages in the interim. That's the most blunt and pessimistic estimate yet of how long the energy disruptions caused by hurricanes Katrina and Rita will affect the USA. But it could help Energy Secretary Samuel Bodman sell Americans on a conservation campaign he plans to detail Monday.
"How long before we return to normal? It's hard to know, because we have not yet got an assessment" of damage from Rita, Bodman said in an interview with USA TODAY on Friday. He said it will be two to three weeks before the assessment is done.
"We're going to go through a very challenging time the next six months, is my guess," Bodman said. "Most of us have viewed energy availability as a kind of right of citizenship," he said, and might have to rethink that as refineries are restarted, pipelines repaired and natural gas processing resumed. "Both in terms of gasoline availability and (prices of) natural gas and heating oil, we're going to have some problems."
Hurricane Katrina swept the Gulf of Mexico and hit shore near New Orleans on Aug. 29. Rita followed Sept. 24, hitting the Texas coast west of Katrina's landfall. The two storms temporarily closed all Gulf oil operations and most natural gas operations, according to the U.S. Minerals Management Service.
Only 2% of Gulf oil production had resumed by the weekend, MMS reported, and 21% of natural gas production. The Gulf supplies 29% of U.S.-produced oil and 19% of U.S.-sourced natural gas.
The nationwide average for unleaded regular gasoline is $2.92, AAA said Sunday. That's up about 30 cents from before Katrina hit.
Gasoline supplies are being supplemented by increased shipments from overseas. But natural gas, the heating fuel for most Americans, can't easily be shipped. Industry and government forecasts say that tight gas supplies could result in heating bills nearly doubling.
Keeping prices down "could be challenging if we get exceptionally cold weather," warns Paula Reynolds, CEO of big gas supplier AGL Resources. That could use up the cheaper gas that utilities have in storage and require them to replace it with today's high-price natural gas, passing the increase to users.
The government conservation plan will ask Americans to turn off lights, change thermostat settings, drive slower, insulate homes and take other steps.
posted
new HOD coming around 2 or so imo..and to all you profit takers..Congrats...and BTW did you notice how fast they absorbed your shares? Quite a bit faster then buying is it not....whats that tell ya? Once again they are in need of freed up shares to work with,the market makers are in a tight position imo.
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Quest im not in....but i like it longterm. Lookin for another entry point though. Dont know when. I cant say no to making money thats for sure.
Posts: 604 | Registered: Aug 2005
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posted
i agree Quest a good PR could double the PPs and the volume along with it
Posts: 333 | From: calif, bay area | Registered: Jul 2005
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-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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posted
now here comes the real scare tactics.LOL...watch the last 15 minutes to prepare for tomorrow.Seen how fast it jumped today?Most of the OS is in over .11 and we are solid.
posted
Don't ya just love thses shorts? I'm afraid this thing might be pumped and bashed all over the place. I'm in it long, so its like watching a Presidential debate between the democrats and republicans. Ya just have to have patience and let the oil & NG do the talking instead of these shorties.
I hope no one else sells to let these shorties in at .05. We'll only have to go through this process again untill the oil & NG takes over.
-------------------- All IMHO. Do not rely upon anything I post to base your financial decisions upon. Posts: 970 | From: Montana | Registered: Jul 2005
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-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top Posts: 746 | From: Pawtucket, MA | Registered: Jan 2005
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posted
the DT's ran this puppy today for sure but at least the gap we had at .098 and .099 is not filled and took out two resistance levels in one day! Consolidating and setting up,no way they keep a PR back now imo.