Price of oil up on surprise decline in inventories

[peter_the_great]

Gee either the government can’t add or some monkey business is going on. Government incompetence or those greedy oil companies manipulating oil prices. You be the judge!

Oil jumps near $62 as inventories fall

"NEW YORK (CNNMoney.com) -- Oil prices rose Wednesday after the government said supplies of distillates and gasoline showed a surprise decline and cold weather looked set to bear down on the U.S. Northeast, the world's largest home heating oil market. . . . .

In its weekly inventory report, the Energy Information Administration said distillate supplies, used to make heating oil and diesel fuel, fell by 1 million barrels. Analysts were looking for a gain of 400,000 barrels.

Gasoline supplies also posted a surprise decline. EIA said gasoline stockpiles fell by 600,000 barrels, compared to the 500,000 increase called for by analysts. Crude stocks fell by 300,000 barrels, slightly more than the 100,000 drop predicted."

http://money.cnn.com/2006/11/29/markets/oil_eia/index.htm?postversion=2006112911

http://www.wtrg.com/daily/crudeoilprice.html

[eliphaslevi]

1. Let the price gouging begin

God, I hope water(hydrogen) becomes a common fuel someday.

[jpak]

2. Surprise Surprise - and Gooolllee

Did the Democrat Party win an election????

[VegasWolf]

3. Elections are over, back to business. nt

[AnneD]

4. Anyone

that has followed the gov stats as of late are not surprised. The elections over, winter is coming so get out the vasoline.

[trogdor]

6. You'll need it to keep your cheeks warm...

...as you spend more on less heat yet again this winter.

[AnneD]

13. HAHAHAHAHA

wonderful entendre.
Or as Dad would say-Well butter my butt and call me a biscuit.

[CountAllVotes]

5. wow!

What a shock! :sarcasm:

:dem: :kick:

[Lone_Star_Dem]

7. Just in time for the winter heating rush

Better headline would read: Post election; back to bidness as usual for the BFEE.

[denverbill]

8. I can't wait for the next Congress to get sworn in.

Maybe we can put the oil company execs under oath this time.

[leveymg]

10. Better, let's put a few oil execs in jail as a warning to the rest.

That would do the trick.

[0rganism]

9. "surprise" decline? HAHAHAHAHAHAHAHAHAHAHAHA

I remember, about a month before the election, the "industry analysts" were all spouting about what an unexpectedly huge surplus of oil they had, hence the declining prices.

Now that the election is over, they suddenly discover a "surprise decline".

I wasn't the only one on this website predicting EXACTLY this scenario. Gas prices will be back to $3/gal by January 1.

It's SO FUCKING BLATANT. And even though the media whores do their very best to ignore it, they know damn well what's happening and their viewers are catching on too.

[truthisfreedom]

11. duhh... hey! where'd da oil go? gee, it was right here... where'd it go?

*scratch scratch scratch*

maybe they should stick a f*cking dipstick in the tank next time. "surprise" as in November surprise, huh?

[RaleighNCDUer]

12. I must say that I am surprised

that it took this long.

Guess I better fill up on the way home.

[sakabatou]

14. And to all the Freepers who thought it would go down:

[hatrack]

15. So, were economists "surprised"?

What a surprise!

:eyes:

[onehandle]

16. Surprise! America "elected" Bush.

Twice.

You asked for it.

[Supersedeas]

17. Post-election inventory falls---no way!! Ya don't say.

[Imagevision]

18. After election - gas went up from $2.11 to $2.33 today, (So. Fla.)

[Efilroft Sul]

26. Same here in Pittsburgh.

It went from $2.13 to $2.31 in about 10 days.

If the oil companies aren't choreographing this tango, then they certainly know how to follow each other's lead.

[Roland99]

19. "surprise decline"? WTF? Like that shit isn't monitored with microscopes!

[rman]

23. "we didn't know", "we had no warnings"

familiar lies.

[Virginia Dare]

20. On the heels of a visit to the Saudi Overlords by..

Darth Cheney, hmmm.

[Scout1071]

21. Bingo.

The elections are over and the Saudis are still in charge.

Please Al Gore, please run. We need him to lead this country out of our oil addiction.

[rman]

22. yes, it's definately not decline of production rate.

just can't be.

[Vinca]

24. And to think the idea of oil prices being tied to elections

was considered tin foil hat rantings. Right. I'm now going to polish my hat.

[Gman]

25. Next time the oil company CEO's will be put under oath

before they testify. They won't be able to sit before Congress, look at each other and say, "Umm... I dunno."

Give it time.

[tinfoilinfor2005]

27. I just got a letter from a right winger

who was advising everyone to send a Christmas card to the nasty folks at the ACLU. Instead of answering, I mailed her this article and said, "Why don't you send a Christmas card to these crooks instead?"

[tabasco]

28. Yes, I'm shocked. The oil companies will have their revenge.

The people revolted against their corporate cabal so now it is time for us to pay.

"Surprise drop in inventory." LMAO.

[yellowcanine]

29. "surprise decline?" Is that like the "surprise lack of WMDs"?? It is only a surprise if one does

not know what is going on or is lying about it.

[BelgianMadCow]

30. You are being played methinks - no such fluctuations noticeable over here

of course, gas is always very high over here by US standards...mainly because of taxes.