Where is the Dow & others heading in 2005?

[mickandpete]

International petroleum exchange
to open 12.30 am sunday trading till 10pm monday
One thing to bear in mind as news of damage filters through
The rigs themselves may not be damaged
Where the problem comes is the undersea pipelines connecting them to terminals
The storm creates huge undersea currents which can move the lines miles
No line no oil delivered
It can take 6 months to restore the lines

 

[mickandpete]

http://research.cibcwm.com/economic_public/download/sep05.pdf

 

[Racer]

http://research.cibcwm.com/economic_public/download/sep05.pdf

thanks for the link, sorry my connection went earlier

 

[kriesau]

International petroleum exchange
to open 12.30 am sunday trading till 10pm monday
One thing to bear in mind as news of damage filters through
The rigs themselves may not be damaged
Where the problem comes is the undersea pipelines connecting them to terminals
The storm creates huge undersea currents which can move the lines miles
No line no oil delivered
It can take 6 months to restore the lines

Oil prices dropped 3.5% yesterday on Nymex to $64.20 ! Seems crazy - refining capacity is already overstretched and this will be reduced further by the consequences of Rita. Gulf production has been seriously reduced by Katrina and it's too early the assess the impact of Rita.

Can't see why prices went down yesterday since they are bound to go up next week. Just another example of market irrationality.

 

[mickandpete]

Deja Vu Katrina
Oil down before it struck

 

[Racer]

Dow

 

[Racer]

'The fiscal deficits have reached such extremes that the Democrats and Republicans have neared a bipartisan agreement that enough is enough. It may continue to worsen in 2006 due to the Katrina disaster and pending Rita disaster, but that type of stimulus is not positive. If it were, then we could stimulate the economy by having bricks thrown through every window in order to replace those windows.'
Market Based on Earnings & the Valuation of Earnings

 

[mickandpete]

Pure Nonsense I know
but
I cant get the old adage"things happen in 3s" out of my mind
Pure nonsense

 

[mickandpete]

FOX NEWS
Mayor of HOUSTON urging people not to travel unneccessarily due to damage to refineries
Fuel may not be available.
Port Arthur and Lake Charles refineries???

 

[RUDEBOY]

The mayor should not say things like that.....he may put the wind up people? CRUDEBOY.

 

[Racer]

http://www.mysanantonio.com/business/stories/MYSA092405.01D.Refiners.2182790c.html

http://www.startribune.com/stories/125/5632973.html

 

[mickandpete]

FOX NEWS
From the graphic just shown of RITA path it went right through the heart of "REFINERY ALLEY"

 

[RUDEBOY]

It's certainly not a 'barrel' of laughs for some people?

How much is a barrel of the finest?

Will opec take the you know what?

Squeeze the States?

This will be impossible!

 

[Racer]

For you not to do more pages of one liners? :cheesy:

 

[RUDEBOY]

Sorry, Racer. I've got one of those ******** moods about me today. No funny comments, please. Rude.

 

[Racer]

Dow H&S

 

[dc2000]

A nice chart so how would you trade it ? is the general concensus that we are about to collapse or rally ?

 

[mickandpete]

http://www.eia.doe.gov/emeu/cabs/canada.html

 

[kriesau]

Brent crude down 1.5% to $61.50 in London today as a consequence of the minimal impact of Rita upon both oil production and refining facilities in the Gulf of Mexico. Nymex will inevitably follow suite when the New York market opens in about an hours time.

 

[Racer]

At least 15 refineries in Texas and Louisiana, accounting for about 24 percent of U.S. capacity, shut as Rita approached. Valero Energy Corp. said its Houston and Texas City plants may restore processing within seven days. Another 5 percent of the nation's refining capacity remains closed from Katrina, with four plants scheduled to resume output in November or December.

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aZ7H15xL19OI&refer=home