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Well, looks like another good day for us. Last week up 45%, and this week we will start up anywhere from 8-13%. I am honestly expecting the PR either tomorrow or Wed, and if that is the case you will see this stock above .06 EASY, with a possibility of .07. Thats just my opinion, what you guys think?
Posts: 414 | From: Auburn, Alabama | Registered: Aug 2005
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That so-called Strategic Petroleum Reserve only provides a false sense of security. Why?
The 700M barrels would only last the US consumers 35 days. That's not a great amount of time when you consider the environment we're in.
There's just so many variables that can/will affect the price of oil these days not to mention hurricane season continues for another 2 months.
Bush Urges Conservation as Retail Gas Prices Rise By VIKAS BAJAJ NYT September 26, 2005
President Bush called on Americans to conserve gasoline and avoid non-essential driving today as the average national prices for retail gasoline climbed higher for the first time since they peaked over the Labor Day weekend.
The president's remarks appeared to reflect concerns that gasoline supplies may remain tight and prices will rise further, even as the energy industry and analysts were breathing a sigh of relief over the limited scope of damage at Texas refineries from Hurricane Rita.
"We can all pitch in by being better conservers," Mr. Bush said after being briefed on the situation at the Energy Department. "People just need to recognize that these storms have caused disruptions." In addition to urging consumers to cut back, he said federal employees should use carpool and public transport and not take non-essential trips.
Retail price increases were most acute in Texas, the Gulf Coast and Southeast, areas closest to and most dependent on oil refineries in or near the hurricane's path. Nationwide, the average price for regular unleaded gasoline was $2.80 a gallon today, up from $2.748 the day before, according to the Oil Price Information Service. The president also said the nation needed to relax regulations on the construction of new oil refineries. A new refinery has not been built in the United States in almost 30 years, though companies have expanded capacity at existing plants and are running them closer to 100 percent capacity.
Mr. Bush again reiterated that the federal government was ready to release more crude oil from the Strategic Petroleum Reserve.
"We need additional refining capacity in order to meet the needs of the American people," Mr. Bush said. "The storm has shown how fragile the balance is between supply and demand in America."
Gasoline prices in Dallas, which drew hundreds of thousands of evacuees from Houston last week, rose to $2.803 today from $2.709 on Sunday. Prices in Houston tracked the national average, but gasoline supplies remained scarce on many of the key routes taken by the three million people who evacuated the Houston area in advance of Rita's landfall Saturday.
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Quest do you no off hand who amep supplies there products to or what part of the country
Posts: 333 | From: calif, bay area | Registered: Jul 2005
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