Oil stashes, and recent price increases

[MC5W20]

If you have been fighting the urge to build an oil stash read this. It might change your mind about buying oil cheap when you can.


http://www.imakenews.com/lng/e_article000524050.cfm?x=b11,0,w

 

[Tim]

And it seems like I hear about a new refinery fire/explosion somewhere in the world every week.

 

[BrianWC]

LOL, I read that yesterday and thought the same thing. Changing oil specs be ****ed. I may not be able to afford to change my oil in 2 years!

 

[Ray H]

EM will be closing their Group I terminal in San Pedro, California when existing stocks are depleted. Chevron has declared force majeure and will be limiting allocations of Group II and Group III base stocks. Things are getting worse, not better, post Katrina. Europe's having some supply problems, too. But, the good news is that EM posted a net-income of nearly $10,000,000,000.00 for calendar year 2005! Geez, that makes me feel a whole lot better!

 

[k1xv]

No,, that was $10 billion for the fourth quarter of 2005. ExxonMobil's profit for the entire year of 2005 was over $30 billion.