Gas & Oil News

Some Analysts feel, that Market Trend and Speculation in buying are the primary forces driving oil prices up. First of all, a “Trend” is a record of the past and cannot accurately predict the future out come of anything. Furthermore, Speculation is nothing more than calculated gambling. To try to understand why oil prices are so volatile, may better be understood by asking the question, “Why are the powers that be, buying more oil than they are actually consuming?” The reality of the oil (Supply & Demand) situation is that there is enough to go around right now. The World is at equilibrium! The underlying fear of a major disruption, caused by an act of terrorism or a natural disaster, is creating a need. A need for nations to build up a “Strategic Reserve” of oil! This over zealous buying is further fueled (no pun intended) by the ever growing demand of China (right now using about 1/3 of world production) & India’s huge increasing need for oil.
Davitte’ Lanier
Petroleum Industry Analyst …..(for BJ)

(Some stuff of interest to read)
Hot Money And Hot Oil:
http://money.cnn.com/2005/03/15/commentary/column_hays/hays/index.htm
World crude prices become unstable:
http://www.expressnewsline.com/phpnews2/news.php?action=fullnews&showcomments=1&id=2568
Chinese demand set to push Opec to limit:
http://news.ft.com/cms/s/77f2d8ee-8059-11d9-bd50-00000e2511c8.html
Bush is worried about rising gasoline prices:
http://money.cnn.com/2005/03/16/news/economy/gas/index.htm
China raises gasoline price by 7%:
http://www.chinadaily.com.cn/english/doc/2005-03/23/content_427450.htm

SPECIAL NEWS BRIEF:
14 Feared Dead in Texas Refinery Blast
By PAM EASTON,
ASSOCIATED PRESS
http://www.lasvegassun.com/sunbin/stories/nat-gen/2005/mar/23/032303553.html