Category Archives: Oil

Iranian Patrol Boats Fire on Singaporean Tanker in International Waters

by: Wolf von Baumgart, Staff Writer In the third recent incident involving Iranian actions against international shipping this year in the Persian Gulf, Islamic Revolutionary Guard Corps Navy (IRGCN) patrol boats have fired shots across the bow of the Alpine Eternity (a Singapore registered petrochemical tanker) in international waters. The Singapore Maritime and Port Authority issued the following statement on 5/14/15: "With regard to the reported shooting incident on 14 May 2015 (Singapore time), involving a Singapore-registered tanker 'Alpine Eternity' that took place in international waters, Singapore is deeply concerned with such actions.” The (MPA) has requested the Iranian maritime authorities to investigate the incident and prevent future recurrences. The freedom of navigation and free flow of commerce are of critical importance to Singapore and other maritime and Read more

Keystone Veto Ironic

As most of you know President Obama, who was supportive of Keystone in 2011, vetoed a bipartisan bill to approve the Keystone XL pipeline after 6 years of delay. What you may have missed is the reason given."Through this bill, the United States Congress attempts to circumvent longstanding and proven processes for determining whether or not building and operating a cross-border pipeline serves the national interest," opined the White House. I am puzzled because the system was designed by Congress and Congress has the ultimate Constitutional authority to approve it or determine the national interest. His administration abused the authority given by Congress. That is why it is being taken back. Every excuse given such as environmental concerns and pending action by the Nebraska Supreme Court have fallen by the wayside. There is no legitimate reason to delay it. It does not even make Read more

Oil, Oil, In Abundance, The Magic Elixir That Feuls The Masses

I arose from a sound sleep to put the cat out, make coffee this morning and turn on Fox Business for the stock futures. Lo and Behold, oil had dropped another $1.35 a barrel and was now at the unheard of price of $64.49 over the weekend. Wow, I thought, that dropping gas prices must soon follow. After all, when I spoke to my brother who resides in South Carolina, he had just filled his 40 foot RV for $2.34 a gallon at a local gas station for a run to Tucson Arizona. (lucky dog) I started to think about why after the price of oil drops almost daily with occasional rebounds, that the price of gas in Delaware is at about $2.75 a gallon. I already know all the disclaimers of delivery zones and charges for that, but I don't believe that for one minute. They have to come up with a better excuse. Heard rumors that in Oklahoma, gas is being sold for under $2.00 a gallon! Hard to believe, Read more

The Volt Has No Juice

  I have written here many times that Delaware is little more than a scaled down version of the national agenda of the liberal Democrat party, and Gov. Markell is merely a puppet for the Obama administration. Not really surprising since Vice Pres. Biden runs the Democrat party here in the state.   Well it wasn't that long ago that I wrote about the fact that Fisker Motors,the creator of a hybrid electric car, would be laying off about a quarter of their Delaware employees due to faltering sales, this even as gasoline prices continue to rise. Fisker was touted by the Markell administration as being the center piece of economic recovery here in the state of Delaware. It was seen, by liberals, as  the jewel in the crown of greeny technology ment to replace traditional energy sources.   Like the Obama administration, Gov. Markell here in Delaware has been attempting to force this Read more

Iran And The Strait Of Hormuz, War Drums Or A Game Of Threats?

The 21 miles of water that separates Oman from Iran at its narrowest point, leading into the Persian Gulf is known as the Strait of Hormuz, controls a shipping lane that exports one-sixth of the world's oil. If Iran were able to shut down this shipping lane, how would it affect America. Is Iran once again beating their "war drums," to gain world attention? Despite bragging by the commander of Iran's Navy that they had control over the "moves" by foreign forces after footage of a US aircraft carrier was shown on Iranian television, a US Navy Spokesman would not comment on the Iranian footage but confirmed that the USS John C Stennis was on a "routine transit" through the Strait to provide support to Nato forces in Afghanistan, according to reports by The Telegraph. China is one of the largest buyers of oil being shipped through this valuable four mile stretch of sea. If this valuable Read more

Is American Exceptionalism Dead?

Recall then-vice-presidential candidate Joseph R. Biden Jr. (D-Del) pontificating the likeliness of an “international crisis’ that would “test the mettle of this guy” – referring to then-candidate Barack Obama during the campaign of 2008? Since the time Biden uttered those remarks at a Seattle campaign fundraiser event, he’s mostly been right. Who’d a thunk it? Yet, the irony of all of this premonitory soothsaying is that president Obama, along with his administration, still does not have a clear and cogent foreign policy strategy that gives meaning to what the U.S. stands for. Our guiding principle, as portrayed by the White House, is to wet one’s finger and see which way the wind blows. We all sat back in disbelief as a Green Revolution enveloped the streets and plazas of Tehran during the summer of 2009, only to be trounced by a megalomaniac nicknamed A-Jad and Read more

The Contract FROM America

We, the citizens of the United States of America, call upon those seeking to represent us in public office to sign the Contract from America and by doing so commit to support each of its agenda items and advocate on behalf of individual liberty, limited government, and economic freedom.
  1. Protect the Constitution
  2. Reject Cap & Trade
  3. Demand a Balanced Budget
  4. Enact Fundamental Tax Reform
  5. Restore Fiscal Responsibility & Constitutionally Limited Government
  6. End Runaway Government Spending
  7. Defund, Repeal, & Replace Government-run Health Care
  8. Pass an ‘All-of-the-Above” Energy Policy
  9. Stop the Pork
  10. Stop the Tax Hikes

What Peak Oil

Eventually oil will be too valuable to burn, but that day is not today. Peak oil is an interesting theory, but new discovery after new discovery says that it won’t be anytime soon. The discovery of Eugene Island’s expanding oil reserves has some believing that peak oil is a conspiracy to raise prices. Regardless of intent, the evidence of expanding reserves says that big oil won’t shrink any time soon. That has to depress the catastrophic man-made global warming crowd.

$328,835

$328,835 is the pricetag for the White House's tragically stupid New York City photo-op according to the Air Force. Check it out: The flight by the VC-25, a modified Boeing Co. 747, and two F-16 fighter jets cost $328,835, Air Force spokeswoman Vicki Stein said. $328,835 for a picture at a time when many Americans are struggling financially, losing their jobs, and being kicked out of their homes. But, as they say in infomercials, that's not all.... It's being reported that the Feds were totally aware that the moronic stunt would send New Yorkers straight for the Prozac, but they demanded that the public be kept in the dark and "threatened" to punish the city if there was a leak: Federal officials knew that sending two fighter jets and Air Force One to buzz ground zero and Lady Liberty might set off nightmarish fears of a 9/11 replay, but they still ordered the photo-op kept secret Read more

Gustav Bearing Down (Possibly) On New Orleans, Oil Speculators Shake In Fear

UPDATE: New Orleans (and the state of Louisiana) begins preparations.  Katrina is and likely will forever remain very, very raw to the survivors. Very early guidance, as Gustav has yet to enter the Gulf of Mexico, but computer models are pointing at the Louisiana coast, with a trend towards New Orleans and nearby Mississippi.  Landfall anywhere is bad, but this current forecasted path makes my heart and stomach sink a little more. In the meantime, oil speculators have gone into fear mode.  My own guess is that if a few more runs from the NHC confirm this morning's (11AM) forecasted path, expect the speculative fear to go into full panic.  Varied reports are already predicting increases of $5-$8 per bbl if that were to happen.  I can't believe they haven't predicted that on a per-day basis. Current forecasted landfall along the Gulf coast is Sunday night into Monday.  Stay tuned, Read more

McCain V. Obama is a Deadheat–It’s the energy issue, stupid.

It's Monday and time for the weekly Presidential update.  Energy is the big issue in America.  The bad news for Senator Obama is that more Americans now trust Senator McCain on the issue.  The Obama people have gotten the message and the Senator has made a major address today on the issue. The race is a dead heat. For the first time since June 3, Rasmussen reports Senator McCain is in the lead among leaners, but it is statistically insignificant.  Senator Obama's dollar bill remark hurt his favorability ratings, they are down to 51% from a 54 to 57% range.  The majority viewed the remark as racist, including a stunning 44% of African Americans, which seems rather strong.  Racial would seem more accurate.  It seems 44 years after legal segregation was ended, the subject of race is still a sensative issue in America.  Americans are skeptical of a windfall profits tax because they Read more

MAC is Back

I have been watching Senator McCain climb up this week in Rasmussen and Gallup tracking polls.  I took my time pointing it out because it could have been a statistical fluke.  Now it seems real especially when I look at the underlying numbers.  Senator McCain is trusted on the economy and has pulled even on energy. The Democrats extreme position on energy is killing their Congressional numbers and is starting to weigh down Senator Obama. The message is getting through.  Drill here, drill now.  Get serious about alternatives.  Encourage innovation. Look at the excessive speculative bubble caused by the margin changes. We have to do it all. Senator McCain is now tied in the most recent national polls and is within single digits in all of them.  He shows the most upside potential in the choice of a running mate. Furthermore, white evangelicals -- who typically make up a quarter Read more

The Real Reason Democrats Obstruct a Real Energy Policy

Harry Reid says Coal and oil makes us sick. We have to stop using fossil fuels. Most Americans disagree so do i. We need alternatives, but it is unreasonable to think that we can stop using fossil fuels anytime soon. This is especially amusing because it is from the Senator blocking Yucca Mountain. The McCain approach to energy is comprehensive.  The Democrat approach is hope for a miracle.  That is an interesting choice.

I like Senator Obama, but….

Watching Senator Obama gives me good feelings.  I like him.  He is a can do type of guy.  He speaks to our hopes not our fears as well as anyone.  He is the best the Democrat Party had to offer this year.  Some people have asked me why I don't support him. My problem is their best may not be good enough.  While the Democrats were out of power, they completely devolved into a cabal of interest groups trying to capture the government.  When I look at the real proposals, I don't see change unless going back to failure counts.  Most Americans don't disagree with President Bush on his values and basic principles (that is why they elected him twice or according to Democrats accepted him once then elected him once).  Most Americans believe in marriage traditionally defined, family values, free markets, a strong offense against terrorists, increasing our energy supplies both fossil and Read more

McCain Shows Leadership on Energy; Obama says Hope for Change

Here is a great quote from Dick Morris: Suddenly, everything is on the table. Offshore drilling, Alaska drilling, nuclear power, wind, solar, flex-fuel cars, plug-in cars are all increasingly attractive options and John McCain seems alive to the need to go there while Obama is strangely passive. During the Democratic primary, he opposed a gas tax holiday and continues to be against offshore and Alaska drilling and squishy on nuclear power. That leaves turning down your thermostat and walking to work as the Democratic policies. McCain has also been ratcheting up his attacks on oil speculators. With the total value of trades in oil futures soaring from $13 billion in 2003 to $260 billion today, it is increasingly clear that it is not the supply and demand for oil which is, alone, driving up the price, but it is the supply and demand for oil futures which is stoking the upward movement. The Read more

More On Oil-Speculation Commodities Markets

Keeping our faithful abreast on the oil-speculation commodities markets.  The link is a good article by Rex Nutting & Michael Kitchen of MarketWatch.com that also explains some terminology that may help better define where people stand on this issue.  If you do follow the link (recommended), let the first four paragraphs sink in and note the source of the quotes. I, for one, am not against traditional hedge-speculation, which is employed by firms that take delivery of the crude when the contract is due.  This form of speculation is a form of survival to get from one point to the next.  Does it mean they will fold if they aren't successful?  Probably not in the short-term, but it is a mechanism to roll-forward and remain liquid.  It's a function of operation. Index-speculation, however, is my point of contempt.  I will admit that certain components of my 401(k) have actually Read more