Posts Tagged ‘Oil’

China is Upset about US Steel Probe

May 2nd, 2009 No comments

In the early part of April US Steel manufacturers filed suit against China for dumping steel on the US Market.  It is no suprise that the Chinese Government is upset about the probe and for the obvious reasons.  As a product of the US Steel Market and the tublar pipe used for the Oil & Gas industry the probe is welcome.

I am all for fair trade and globalization…  But the dumping of cheaper goods unfairly is dangerous to all involved, especially my family.  There are lots of problems in the US Steel Market all the way down to raw ores and scrap metal – I am not defending that.  But, what the Chinese have done over the past few years is detrimental to the global economy.  Not only in a monetary standpoint – also environmentally (see my Earth Day post “American-made steel is cleaner than steel made in China.”

I found an interesting article on United Press International titled “China dismayed over U.S. probe of steel

China dismayed over U.S. probe of steel

BEIJING, May 1 (UPI) — U.S. investigations into tubular and pipe steel imported from China is troubling for the Chinese government, the Commerce Ministry said.

The U.S. Commerce department this week said it was launching anti-dumping and countervailing duty investigations into Chinese steel pipes used in oil and gas drilling, China’s state-run news agency Xinhua reported.

Countervailing duties are duties imposed under World Trade Organization rules to neutralize the negative effects of other duties, the online encyclopedia Wikipedia said.

The U.S. decision to open the investigations has been protested, Commerce Ministry spokesman Yao Jian said. Warning the move would send the wrong signals to the world, Yao said China would monitor the case and respond as appropriate.

“The steel pipe is the main product of Chinese steel exports to the U.S.,” Yao said. “The move will seriously hurt the Sino-U.S. steel trade and pose negative impact on the relevant U.S. industries.”

U.S. steelmakers April 8 filed an anti-dumping suit with U.S. trade bodies for an investigation into the steel products, Xinhua reported.

Yao said the probes constituted discrimination against Chinese products and an abuse of special safeguard measures.

Gas Prices Drop

November 16th, 2008 1 comment

Gas prices have dropped for 60 days straight.  Gas prices have dropped 60% since Summers high.  Gas prices near my house are $2.00-2.10.  The high gas price I remember from this summer was over $4.00 which means that gas prices should drop to around $1.60.  I never thought we would see prices this low again.  Oil prices demonstrate and codify negative circumstances – it is nice to see – since gas prices effect more people directly than does much of Wall-Street’s short comings.

Read the article referencing the low gas prices.

Gas price drop: 60 days straight

National average price for gallon of gasoline falls to $2.105. Peak was $4.114 in July.

Remember $4 gas? Soon it will be $2 gas.

As the nation’s economy worsens, the demand for oil and gas wanes. As a result, prices drop. And drop. And drop.

The price of gas fell overnight Sunday for the 60th consecutive day.

The national average price for a gallon of regular gasoline fell 2 cents to $2.105 a gallon, according to a survey released Sunday by the American Automobile Association.

A gallon of gas has dropped nearly in half since hitting an all-time high of $4.114 on July 17. It’s been nearly two years since prices were this low, according to AAA figures.

At the high end, drivers in two states are paying an average of $3 or more: Alaska, at $3.181 a gallon, and Hawaii, at $3.049.

But there are now 16 states where the average price has fallen below $2. Missouri had the cheapest gas in the nation, at $1.816 a gallon.

The rapid decline in gas prices comes as the price of crude oil continues to collapse. Crude prices, which make up roughly half of gasoline prices, have fallen more than 60% since hitting a record $147.27 a barrel on July 11.

Crude for December delivery fell $1.20 to settle at $57.04 a barrel on Friday.

Drilling for Oil in Georgia vs. Maine

September 20th, 2008 2 comments

So have you caught wind of Congress rolling back the ban on off-shore drilling?  Probably not with the current state of the Economy.  Well on Tuesday the House passed legislation, 236-189, to ease the ban on off-shore drilling.  I would like to point out that the legislative branch of government in the US is dominated by the Democratic Party.  To find out more about the legislative action read the NY Times Article. Write your Congressman and your Senators tell them what you think.

The main point of this is to talk about the atrocity in progress.

I happen to live in Alabama one of those Gulf States that already has off-shore drilling wells.  In fact as a kid, growing up in Central, Alabama, I remember playing baseball next to natural gas pumps.  So drilling and natural resource exploitation is nothing new to me.  In fact the oil and gas industry indirectly put the roof over my head and food in my belly.  Many of my friends, family, and neighbors do not agree with me and think I should be burned at the stake.  They don’t agree with me for the same reason why America’s wealthiest still think the economy isn’t in a state of turmoil.  It isn’t in their best interest!

Tonight on ABC News Nightline. The headline story was talking about Drilling for oil in the Gulf of Maine.  In short, and what I got out of the story, drilling shouldn’t apply to Maine and the cost of heating oil is going through the roof.

Look I get it, people are hurting for money, me too. I worked on Wall Street and not many days past the mortgage fall out.  But, is drilling really the answer?  I can tell you, NO it isn’t.  It’s only temporarily fixes the problem for somebody else to fix.  Exactly what the people before US said.  As a youngster that will be paying for the mistakes of the Ronald Reagan and Cold War Era… Lets Fix the problem! Don’t put a Band-Aid on it.

But again this isn’t my purpose of this post.

My purpose is to address the drilling location issue.  Why should we drill in the Southern Coast?  Because people in Maine Fish?  Lobster?  Why should we drill of the coast of Georgia?  (I really dont have anything).

I try to be objective about the issue.  But, it is hard to be when someone is trying to put an oil rig in your back yard.  When I see pictures of Maine I “aww” at the beauty.  When I hear the name Georgia I think sweet tea, hospitality, and golf.  My images of the south are just as beautiful as anything Maine has to offer!  Have you ever seen the fall leaves in the Southern Appalachians?  The sunset from Key West, FL?  Have you ever had Shrimp?

When the logging industry finally gets to clear cut the last few acres of natural forest to build the houses to pay for the people moving from Maine to the South for work… “There goes the fall leaves”.  What will thousands of tourist come to enjoy a romantic sunset on their honeymoon on the piers of Key West think when they find out that the green poof is from the Oil Refinery in Louisiana. Or, how about finishing off the demise of the shrimping industry with toxic waste from oil rigs raising our dependency on Vietnamese seafood?

My interpretation may be a bit extreme…  My point isn’t.  In fact it is simple. Who wants an oil rig in their back yard?

The people of the south don’t really want the rigs any more than anyone else. The fact is we need them because you tell us we do and American Survival rest upon our shoulders.  People from the fishing grounds of Maine to California beaches people are counting on our sacrafice.