Hey 53%, happy yet?
Oil slips as dollar gains, gasoline up for 34th straight day to $3.86 per gallon
NEW YORK, N.Y. - The price of crude oil was stable Monday, dipping one cent to settle at US$112.28 per barrel on the New York Mercantile Exchange as the U.S. dollar pulled back from lows set earlier in the day..
In London, Brent crude lost 33 cents to settle at $123.66 per barrel on the ICE Futures exchange
Oil is priced in U.S. dollars, so crude tends to fall as the greenbak strengthens and makes crude more expensive for investors holding foreign money.
The U.S. dollar has been weak because investors think the Federal Reserve will continue to keep interest rates near zero when it meets Tuesday and Wednesday. Rock-bottom U.S. interest rates make the dollar less attractive to investors.
So let’s raise interest rates so people want to LOAN US MORE FOR OUR DEBT? A debt the IMF said means we’re DONE except as a village making scented candles and soaps for tourists from China here to see New York Village and how life was?
But wait…
Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans
Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits. The move has angered some in Congress and triggered a flurry of legislation aimed at stripping the EPA of its oil drilling oversight.
Shell has spent five years and nearly $4 billion dollars on plans to explore for oil in the Beaufort and Chukchi Seas. The leases alone cost $2.2 billion. Shell Vice President Pete Slaiby says obtaining similar air permits for a drilling operation in the Gulf of Mexico would take about 45 days.
Read more: http://www.foxnews.com/us/2011/04/25/energy-america-oil-drilling-denial/#ixzz1Kct2jJtV
- Obama’s EPA Rules Force Shell To Abandon Oil Drilling Plans (thedaleygator.wordpress.com)
- “Report: EPA Rules Force Shell to Abandon Oil Drilling Plans” and related posts (hyscience.com)
- The Administration’s War on Affordable Energy is Being Paid at the Pump (mb50.wordpress.com)
- Shell-Shock: EPA Blocks Oil Giant From Drilling (foxnews.com)
- “EPA Shuts Down Drilling in Alaska” and related posts (globalwarming.org)
- Great News… Obama Suspends Laws Of Economics!
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- "the Number Of Americans Who Think The Economy Is Getting Worse Has Jumped 13 Percentage Points In Just One Month"
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Obama Reversing Position on Offshore Drilling, For Next 7 Years No New Drilling in Gulf of Mexico, The Atlantic and Pacific Coasts If Obama really were purposefully trying to make America a pathetic waste of a once-great Nation, would he be doing anything...
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Congress Set to Quadruple Oil Tax to Pay For Oil SpillFrom Weasel Zippers: Clearly, our present Congress doesn't care AT ALL what the voter thinks. What do you think that means? Why would people who are voted into office not care what the voters think?...
- What On Earth Is It Going To Take? Why Are All Leaders Silent?
Oil Briefly Tops $103 a Barrel for 1st Time As US Dollar Weakness Draws Investors Oil prices briefly surpassed $103 a barrel for the first time Friday as persistent weakness in the U.S. dollar and the prospect of lower interest rates attracted...