Oil could bust economic bubble

With oil prices reaching new highs due to the Arab uprisings, its thought this could be just the start of a bumpy ride. Surging fuel costs in the US are threatening to derail the country's recovery. And, as RT's Lauren Lyster reports, the political price may be too high for the Obama administration.

T Boone Pickens, Oil Price could go to $150

T. Boone Pickens on Bloomberg Television : T. Boone Pickens appeared on Bloomberg Television's "Surveillance Midday" with Tom Keene this afternoon to discuss the effect on Oil prices of the unrest in the Middle East and North Africa on oil and reiterate his call for the U.S. to come up with a comprehensive energy plan. He said that American consumers are "paying for both sides of the war" in Afghanistan because "some of the money you pay for OPEC oil is going to the Taliban."

Oil Going To $200 a Barrel Lindsey Williams

Lindsey Williams on the National Intel Report 2-25-2011

Pastor Lindsey Williams, who has been an ordained Baptist minister for 28 years, went to Alaska in 1971 as a missionary. The Transalaska oil pipeline began its construction phase in 1974, and because of Mr. Williams' love for his country and concern for the spiritual welfare of the "pipeliners,&quot ; he volunteered to serve as Chaplain on the pipeline, with the subsequent full support of the Alyeska Pipeline Company. Because of the executive status accorded to him as Chaplain, he was given access to information documented in his eye opening book, The Energy Non-Crisis.
After numerous public speaking engagements in the western states, certain government officials and concerned individuals urged Mr. Williams to put into print what he saw and heard, stating that they felt this information was vital to national security. Mr. Williams firmly believes that whoever controls energy controls the economy. Thus, The Energy Non-Crisis.

Mideast turmoil looming oil crisis?

The rising price of oil can have dire consequences on any economy, and with the unrest in Libya, things are not looking good at the pump here in the United States. On the heels of the unrest in the Middle East, crude is heading for the biggest weekly increase in two years. The crisis is also being used by some politicians and media outlets to exploit their message of "Drill Baby Drill." Whatever the solution to our dependence on foreign oil, the short term economic ramifications for many Americans still suffering from the economic crisis appear dire if food prices skyrocket as well.the oil from Libya and Saudi Arabia are different. oil from Libya is has little sulphur, but oil from Saudi Arabia has a lot of sulphur.EU's refineries (main importers of Libya's oil exports) arent equipped to process oil from Saudi Arabia.


America's OIL is our emergency reserve.
Unrest in the Middle East is raising fears of tighter oil markets with analysts warning we could see $220 per barrel in the near future if oil production is disrupted in Algeria or Saudi Arabia. Foreign Policy Contributing Editor Steve Levine says if Algerian protests bring a halt to oil production it could force Saudi Arabia to its capacity, that's when oil prices will skyrocket.
With this huge push to start Drilling in America, it's a safe bet that World OIL, is running out.

OIL energy has been supporting an unprecedented world population of 7 BILLION people, when it does run out, get ready for a world that looks like The Road Warrior.

Boone Pickens : Oil Price Will Go Higher

Feb. 25 2011 | T. Boone Pickens, BP Capital Management chairman & founder, advocates an energy plan for America as oil prices are likely to rise on continued Middle East unrest.Boone Pickens : Oil Price Will Go Higher

Oil jumps to $ 120

Oil prices rose Thursday to $ 120 a barrel due to escalating fears of a severe shortage of supplies on the market in light of reduced exports from Libya, and the continuing turmoil in the region.

The price of European Brent crude today during the European trading more than eight dollars to reach $ 120 a barrel.

The price of Brent crude reached $ 110 yesterday, a new level in the range is the highest in two and a half year.

During Asian trading today, jumped U.S. light crude for more than three dollars to reach $ 102 a barrel.

The Western companies had suspended its work in Libya and withdrew its staff, while the rebels announced Libyan control over strategic oil installations, including facilities on the Mediterranean coast.

It is noteworthy that Libya - which has the largest oil reserves in Africa - were produced before the outbreak of the revolution of February 17 by 1.6 million barrels per day, only mostly to European countries such as Italy and Germany.

Fears
While prices have risen to levels of growing Western concern, expressed the U.S. bank Goldman Sachs on fears of a disruption to the largest supply of a wider unrest in the region.

However, Saudi sources confirmed that Saudi Arabia is willing and able to provide high-quality light crude to offset supply disruptions Jamahiriya, which means bridge the shortfall that drives prices to high levels.


The memorandum stated that the same price of a barrel of oil exceeded $ 120 would be a threat to global growth.

Higher Oil Prices Would Hamper Economy

Just as the U.S. and global economies are finally strengthening, they face a new danger: Rocketing oil prices. (Feb. 24)

Oil Prices Could Move to $150

Feb. 23 2011 | Aaron Smith, MD of Superfund Financial, says if oil moves above $102 a barrel, it could continue in a "massive" uptrend. He tells CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din that West Texas crude oil prices may hit $150 by year-end.

Libya Revolution and Oil Addiction

February 23, 2011 CNN :
Our Total Dependence On Oil Is like Building A Home Next To A Volcano & Now The Volcano Is Rumbling



Our total dependence of the value of money, purely being based in the confidence for the return is like building the society like a casino. The bank always wins. Oil be one resource, better look at the root, the insane confidence in banks and interest based currency. It's like trusting there will always be calm waters when boating without life-west.

Oil may hit $100 on Libya contagion fear

Crude oil is not very comfortable for India at USD 96 West Texas Intermediate (WTI) and Brent having crossed USD 100 per barrel. Jonathan Barratt, the Managing Director of Commodity Broking Services, told CNBC-TV18 says the Libyan situation highlights the growing concerns surrounding West Asia.

$100 Oil : Top Energy Trades

Feb. 23 2011 | Where to place your energy bets, with Paul Sankey, Deutsche Bank.
$100 Oil : Top Energy Trades

World oil prices soar amid Libya chaos

Oil prices have risen to their highest level for two years as Libya's Colonel Gaddafi defies a widespread uprising.

Saudi Oil Minister: We Will Protect Supply

Feb. 22 2011 | “The market knows that Saudi has a good chunky excess capacity and a record of using it when needed,” said Prince Abdulaziz bin Salman Al Saud, Saudi Arabia's deputy oil minister, to CNBC.

Oil Prices Surge As Libya Protests Mount

Oil prices soared to the highest level in more than two years as violence spread in Libya and Moammar Gadhafi's grip weakened over the country. (Feb. 22)

Spiking Oil Prices

Feb. 22 2011 | Oil higher as unrest continues, with Vince Farrell, Soleil Securities, and Michael Farr, Farr, Miller & Washington.

Oil Flows & the Middle East Crisis

Feb. 21 2011 | CNBC's Melissa Francis talks about the threat to oil production presented by the protests and violence in the Middle East, and particularly Libya, which provides about 1.1 million barrels/day.

BP CEO Bob Dudley on Libya

Feb. 21 2011 | BP CEO Bob Dudley discusses his company's recent deal with India's Reliance and how the company is coping with what's happening in Northern Africa and in Libya in particular  and the Middle East, with CNBC's Rebecca Meehan.

Abundance of Oil Supply Coming in: Expert

Feb. 20 2011 | Michael Langford, proprietary trader at StreamTrading.com, is positive on oil companies located on the West African coastline. He explains why and shares his outlook for oil supply in 2011, with Stephen Davies of Javelin Wealth Management and CNBC's Sri Jegarajah & Martin Soong.

Adam Johnson on oil markets

Bloomberg Television's Adam Johnson reports on U.S. oil inventories in January.

Middle East impact on the Oil Market

Feb. 15 2011 |More protests break out in the Middle East, this time in the oil producing countries like Bahrain and Iran. NBC's Richard Engel reports that tensions are continuing to rise with no end in sight.

China Bets Big in Canadian Energy

Feb. 9 2011 | Petrochina pays $5.45B for an Encana gas stake.

Crude Oil Gains Moderating After Domestic Inventories Rise Less Than Expected

"Crude oil for March delivery is closing in on $88 a barrel after getting some lift from the latest report on domestic oil stockpiles, which rose less than expected for the week ended Feb. 4.

The Energy Information Administration reported a 1.9-million-barrel gain in crude inventories, short of the 2.4-million-barrel increase forecast by analysts polled by Platt's, which tracks oil markets.

Gasoline supplies also gained 4.7 million barrels for the week, topping analysts who were looking for a consensus gain of 3.1 million barrels. Distillates, which include heating oil and diesel, gained 300,000 barrels, while analysts were looking for a decline of 1.4 million barrels. Crude was already moving higher ahead of the report trading at around $87.23 a barrel on the New York Mercantile Exchange after a report that Saudi Arabian crude reserves might not be as ample as previously reported.

Crude gains are moderating since the EIA report was released, with light sweet crude up 36 cents at $87.30 a barrel on the NYMEX.

The United States Oil exchange traded fund (USO) is trading at $36.48, down 16 cents, or 0.44%.

Saudi Arabia Oil Reserves May Be Overstated By 40%

Peak Oil is getting out, look up US peak discoveries of oil it happened in the 1930's then the US peaked in production in 1970 the world peaked in discoveries in 1960, look up Alaskan oil reserves downgraded by 90% 2010 .... Welcome to reality,

Outlook for Oil

What's Next for Oil ?
Feb. 7 2011 | "My belief is that prices will continue to rise gradually in line with demand," Neil Atkinson, director, energy research at Datamonitor said. "Supply is managed...the OPEC discipline is what matters," he said, so oil prices will rise despite excess capacity.

Oil High on Egypt Worry

NEW YORK (TheStreet) -- Oil trades higher ahead of the weekend as Egypt anxiety rises says Anthony Grisanti of GRZ Energy.Uncertainty is keeping energy prices inflated heading into the weekend I'm Eric Anthony -- you -- at the energy out. A lot of unrest in Egypt there's a lot of worry about it -- that we're gonna happen. You know radical person takeovers so it that -- feeding into the energy trade out.

Oil Behind Russia Resurgence

Feb. 3 2011 | Assessing whether Russia is the way to play the crude comeback, with Tim Seymour, Emergingmoney.com
 

Playing Oil, HMOs

Feb. 2 2011 | Playing the 2011 top performers, with Omar Nokta, Dahlman Rose, and Joseph France, Gleacher & Company.Playing Oil, HMOs

Oil Prices to Hit $106 by Q2: Expert

Feb. 1 2011 | Michael Kurtz, head of regional strategy at Macquarie Securities, expects commodity prices to trend higher as the global recovery gains traction. He shares his outlook for the price of oil, with CNBC's Karen Tso and Bernard Lo.

Egypt Oil Threat: Crude Passes $100/Barrel

Crude oil price futures soar past $100 per barrel. Concerns are growing over possible interuptions in the passage of oil through the Suez Canal and Suez pipeline