If Gustaf hits the main concentration of oil infrastructure on the weekend it may very well pale in comparison the potential record we could see at the pumps. It may very well be that, if there is major disruption in production or supply, we could see an added 30 cents a litre at the pumps. Andersen Accounting was referred to as the main culprit involved in most of the major accounting scandals. It’s been ten years now since I started my predictions on the movement at the pumps or at the heating oil truck, but only the first time I took a vavcation that affected any release I normally would have done. A corresponding increase of 38 cents a litre was realised on the markets but the full impact of any increase back then was absorbed by the Public Utilities Board at the time. I will be back with new numbers in the coming weeks so keep an eye.

With Iran nuclear talks set to begin, speculators are widely expecting that Iran, if sanctions are lifted, will begin an immediate climb to an output level not seen since 2008 when sanctions were tightened. “Continued tensions between Iran, Israel and the United States, supply disruptions that may result from the area along with supply disruptions in Nigeria continue to weigh on crude oil pricing. The political situation in Libya and their promise to disrupt supply last week also didn’t help matters. World oil producers are still trying to deal with an excess of supply in the markets, and it is widely believed that a freeze in worldwide oil production will help alleviate the present drop in prices. The news out of Iran today was a little surprising, I will admit. Curious though is the effect of making an announcement like that today a full month ahead of the scheduled meeting. Things like shutting down exploration and development of present finds, changing geo-political situations or economic slowdowns that have yet to play through. Ethanol, like Biodiesel, is produced from renewable resources conventionally used for food.

Some of the best uranium resources in the world are right next door. Explorers increasingly have to turn to more remote, politically riskier locations where resources are often harder and more expensive to extract. For example, natural gas drilling leads to more jobs, and the drilling companies offer lucrative contracts to land owners, often in depressed areas. The companies are trying to remedy that. What you’re witnessing, as far as I’m concerned, is Big Oil getting a dose of reality; that others outside can now call the shot and determine what prices are good for economic development and consumers alike. As you can tell by the numbers in the price changes, there was little effect on spot prices, which remained relatively steady on the refined spot markets. The Canadian dollar remained relatively steady against the US greenback this week. No panic this week! Here, the rig counts were up by 26 for the last week with the US just down by ten. With rising oil, US rig counts have again increased for the tenth week out of eleven measured.

The decline in rotary rig counts in North America may be slowing, as all signs point to lower cost producers coming back online in Canada. Prices on the futures markets are also trading higher than last year and that means no immediate relief coming for users of those products ahead of September. The last thing to consider when selling mineral rights and oil & gas royalties, is the potential problems with maintenance. OPEC pumped 31.579 million barrels a day last month in an effort the Saudi’s are calling to knock out higher cost producers. The cost of offshore drilling for oil could be several hundred million dollars, with no guarantee of finding oil at all. Iraq produced a record 3.87 million barrels a day of that. In more than sixty-five years since hydraulic fracture’s initial application, more than a million wells have been fracked without serious incident. She has done more harm than good in my opinion.

You may also consider joining one or more of the online petroleum industry databases or oil job placement services on the world wide web. The only mode of travel in the city is by road, one has to either hire a cab or take a bus to reach other parts of the city. Space heaters are one of the conventional ways to quickly increase your room temperature and warmth. All comments are subject to editorial review. You should also develop references when you are working in the oil and gas industries. Lower costs to produce here can partially be cited here for the additional working rigs. Now, mind you, any government can budget around those numbers and the expectations of the oil markets, but to maintain spending at those levels may be foolhardy. There is no sign of relief in heating and stove oil prices as the markets continue to trade distillates at record levels. Heating and stove oils to increase by just 4/100ths of a cent. Heating and stove oils are pointing down by 4/10ths of a cent. “Numbers here show that gasoline will drop by 1.5 cents per litre and heating-stove oils by 1.97 cents.