posted
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
not much of a lunchtime lull at all,still up 40%...LOL...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.
posted
I haven't seen this much green in months. My thanks to everyone who here who recommended this stock. I shoulda bought more and bought sooner, but even coming in late with limited funds I've still made hundreds... awesome. And the future still looks good for AMEP -- I'm holding on to this one for a while. Again: Thanks!
----------------- I'm currently watching: ESNR, KNOS, CWFG, ICMH, and AMEP.
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posted
This week, the market is expected to remain focused on the recovery effort in the Gulf region. On Friday, about 98% of daily oil production and 79% of daily natural-gas production remained offline, according to the U.S. Minerals Management Service.
At the same time, Tropical Storm Stan in the Atlantic will likely miss the U.S., but "could still rile the markets by disrupting production and shipments from Mexico" for a day or two, said Tim Evans, a senior analyst at IFR Markets.
The potential disruption would be short but "the market remains sensitive to these matters as well as the general idea that the hurricane season is not yet over," he said
posted
watching closely for a PR anytime now and also watching for a panic shake but I don't think they could do it without getting flooded with buying pressure!!
VOL +83 Million, the 302M O/S just keeps getting flipped again and again. The trading float is shrinking as shares find some strong hands each day. SP average just keeps going up with every flip of the O/S. A very Bullish Technical indicator in any book on technicals, ...Very Bullish. GL all AMEP longs, ...just wait until the drilling news starts. AMEP shares will not be cheap then. ... %^ greeneyedhawk
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Yeah ... Whaddaya think -- Is this still an MM shake up, people cashing in too quickly, or is it a definite trend heading south? I'm getting seasick but will hold tight for now ... not sure how to read this slow, steady slide, though. Hoping for the best.
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posted
Too bad. It was too fast for one day. I'm guessing slow week from here on out. Pr on the rig should be coming soon. Eat some tums and get ready for a busy October with this stock.
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posted
Wow!!! Well, I'm not in this for the "week" play, like it more LT but can't knock those who want to take profits and move on, it's been a BIG runner. We'll see alot jump back in which again will move us, can't be up all the time even amusement park rides have dips it's just part of the experience. I have to admit though that was a hugh swing for a steady stock that has been moving vs a momo play.
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