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  1. #1
    Senior Member TuckertonRR's Avatar
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    Mideast attack on Japanese oil tanker

    This might just be the beginning of oil tanker attacks......

    http://biz.yahoo.com/ap/080421/oil_prices.html




    AP
    Oil prices spike to record above $117
    Monday April 21, 9:53 am ET
    By Pablo Gorondi, Associated Press Writer
    Oil prices climb to record above $117 a barrel after Mideast attack on Japanese oil tanker


    Oil prices spiked to a record above $117 a barrel on Monday after a Japanese oil tanker was attacked off the east coast of Yemen.
    The 150,000-ton tanker Takayama was attacked about 270 miles off the Yemen coast in the Gulf of Aden while it was heading for Saudi Arabia, its Japanese operator, Nippon Yusen K.K., said in a statement posted on its Web site.

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    None of the ship's 23 crew members was injured, but several hundreds of gallons of fuel leaked before a 1-inch hole in the tanker's stern was repaired, the company said.

    Kyodo News agency reported that the Japanese tanker was fired on by a rocket launcher from a small boat.

    News of the attack pushed crude oil futures higher into record territory.

    Light, sweet crude for May delivery on the New York Mercantile Exchange rose to a record $117.40 a barrel but fell back to $116.80 in electronic trading by the afternoon in Europe, up 11 cents from Friday's closing price. Oil prices had touched $117 on Friday before slipping.

    "There's clearly some geopolitical tension in the market," said Mark Pervan, senior commodity strategist at the ANZ Bank in Melbourne, Australia. "This will die down, but the market is pretty jittery at the moment.

    Adding to the worries were claims Monday from the main militant group in Nigeria's restive south that it had launched two more attacks on oil pipelines in the region. There was no immediate confirmation.

    On Friday, oil prices rose to touch $117 for the first time after an attack on a Royal Dutch Shell PLC pipeline by the Movement for the Emancipation of the Niger Delta.

    Shell confirmed a pipeline leak that it said appeared to have been caused by explosives. It said it had isolated the line for repairs and that a small quantity of production had been shut.

    Attacks since early 2006 on Nigerian oil infrastructure by the militant group have cut nearly one-quarter of the country's normal petroleum output, boosting oil prices. Nigeria is a major supplier of oil to the U.S.

    Pervan said incidents such as the pipeline and tanker attacks were "one-off" issues that didn't really change the market. "They're not fundamental, they're not going to be sustainable," he said.

    Comments over the weekend by an OPEC official that the group was not likely to increase production also supported prices Monday.

    Abdalla Salem el-Badri, secretary-general of the Organization of Petroleum Exporting Countries, said Sunday that oil prices would likely go higher and that the group was ready to raise production if the price pressure was due to a shortage of supply -- something he doubted.

    "Oil prices, there is a common understanding that has nothing to do with supply and demand," el-Badri said on the sidelines of an energy conference in Rome.

    Also over the weekend, Iran's hard-line President Mahmoud Ahmadinejad was quoted Saturday as saying crude oil prices at $115 a barrel are too low, and that oil must "discover its real value."

    The Iranian president made the remarks during a visit to an oil and gas exhibition in Tehran late Friday.

    In other Nymex trading, heating oil futures rose 2.87 cents to $3.210 a gallon while gasoline prices rose 0.07 cents to $2.99 a gallon. Natural gas futures rose 9.7 cents to $10.684 per 1,000 cubic feet.

    In London, Brent crude futures for June were up 13 cents to $114.50 a barrel on the ICE Futures exchange.

    AP Business Writer Thomas Hogue in Bangkok, Thailand, contributed to this report.

    (This version CORRECTS OPEC secretary-general's name to Abdalla Salem el-Badri sted Abdullah el al-Badri)

  2. #2
    Humvee of bikes =Worksman Nightshade's Avatar
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    The price of LIGHT ,EASY TO GET AT, CRUDE is where it is now due
    to the devaluation of the dollar combined with increased demand
    from China & India.

    There is plenty of heavy ,hard to pump/refine, crude. The days of cheap light
    crude are what's over. The market knows that, it's the public that doesn't.
    My preferred bicycle brand is.......WORKSMAN CYCLES
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  3. #3
    Lanky Lass East Hill's Avatar
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    Quote Originally Posted by Tightwad View Post
    The price of LIGHT ,EASY TO GET AT, CRUDE is where it is now due
    to the devaluation of the dollar combined with increased demand
    from China & India.

    There is plenty of heavy ,hard to pump/refine, crude. The days of cheap light
    crude are what's over. The market knows that, it's the public that doesn't.
    It's interesting to speculate that oil pipelines and tankers may be targeted not by terrorists, but by oil 'hijackers', though.

    East Hill
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  4. #4
    Road Runner PDay's Avatar
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    Quote Originally Posted by Tightwad View Post
    The price of LIGHT ,EASY TO GET AT, CRUDE is where it is now due
    to the devaluation of the dollar combined with increased demand
    from China & India.

    There is plenty of heavy ,hard to pump/refine, crude. The days of cheap light
    crude are what's over. The market knows that, it's the public that doesn't.
    The public also can't grasp that there is plenty of oil left, as you said theres plenty of heavy, harder to get at oil. Everyone is so doom and gloom about gas being higher than in the 70s, but haven't they noticed that there is no supply problem? No rationing? No long lines at the gas station? Its all about speculation, and as you say, the devaluation of the dollar. I remain optimistic; however, and think that the price will go down eventually.

    I am a SUV driver myself, but its not a 13 mpg SUV (it's a 20 mpg SUV), and I also consume so little in my tiny little apartment, that I believe I offset much of the emissions anyways. Just putting that out there, because Ive gotten "SUV drivers go to hell" on other threads from those not knowing I was one. Not that they would care.

  5. #5
    One speed: FAST ! fordfasterr's Avatar
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    PDay, do you plan to be car free soon?
    Florida Velodrome Association.
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    CAT-2. Road Bike: 2011 Specialized Allez SRAM Apex. .. and yes, I am vegan.

  6. #6
    Senior Member murphstahoe's Avatar
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    Quote Originally Posted by PDay View Post
    The public also can't grasp that there is plenty of oil left, as you said theres plenty of heavy, harder to get at oil. Everyone is so doom and gloom about gas being higher than in the 70s, but haven't they noticed that there is no supply problem? No rationing? No long lines at the gas station? Its all about speculation, and as you say, the devaluation of the dollar. I remain optimistic; however, and think that the price will go down eventually.
    I doubt it. Those that have the oil are not truly realizing the amount the public will pay for it. The price won't go down unless someone is sitting on a bunch of oil they need to move and nobody is willing to pay the price.

  7. #7
    Road Runner PDay's Avatar
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    Quote Originally Posted by fordfasterr View Post
    PDay, do you plan to be car free soon?
    Possibly in graduate school, but that remains to be seen. If I can get on campus housing and a meal plan, then maybe, but that's in another year.

  8. #8
    In the right lane gerv's Avatar
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    Quote Originally Posted by East Hill View Post
    It's interesting to speculate that oil pipelines and tankers may be targeted not by terrorists, but by oil 'hijackers', though.

    East Hill
    I'm still very confused about what represents a "terrorist". I hear a lot of people talking about them, but to me they represent a semantic replacement of what we used to call "communist". In other words, we need a label to scare the populace and keep the troops in line. I'm sure oil "hijackers" could be called "terrorists".

    When I hear these labels, I am reminded of an old Beyond the Fringe skit that started like "We used to call them terrorists, but now we call them Freedom Fighters..." It was pretty funny.

  9. #9
    Senior Member TuckertonRR's Avatar
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    Quote Originally Posted by PDay View Post
    I am a SUV driver myself, but its not a 13 mpg SUV (it's a 20 mpg SUV), and I also consume so little in my tiny little apartment, that I believe I offset much of the emissions anyways. .

    Wow. 20 mpg. versus 13 mpg. Really, dude, you deserve a pat on the back for doing so much to help the environment & gain new friends! Really, congradulations, dude. Kudos to you!


    <sarcasm>

  10. #10
    Road Runner PDay's Avatar
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    Quote Originally Posted by TuckertonRR View Post
    Wow. 20 mpg. versus 13 mpg. Really, dude, you deserve a pat on the back for doing so much to help the environment & gain new friends! Really, congradulations, dude. Kudos to you!


    <sarcasm>
    You are an idiot. I never said it was a good thing. If you actually read my WHOLE post instead of what you wanted to read, maybe you would have grasped that I live very simply. Go eat some soy, hippie.

  11. #11
    Senior Member TuckertonRR's Avatar
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    pday, keep on drinkin that Billy Beer driving your General Lee, as long as you can, cause when the easy to get at oil will be gone, and all that's left is heavy sour crude, tar sands, etc, and it costs $2. to extract $1. worth of usable refined product, youll wish you became a "hippie" instead of Luke Duke

  12. #12
    Too Much Crazy
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    Quote Originally Posted by PDay View Post
    The public also can't grasp that there is plenty of oil left, as you said theres plenty of heavy, harder to get at oil. Everyone is so doom and gloom about gas being higher than in the 70s, but haven't they noticed that there is no supply problem? No rationing? No long lines at the gas station? Its all about speculation, and as you say, the devaluation of the dollar. I remain optimistic; however, and think that the price will go down eventually.

    I am a SUV driver myself, but its not a 13 mpg SUV (it's a 20 mpg SUV), and I also consume so little in my tiny little apartment, that I believe I offset much of the emissions anyways. Just putting that out there, because Ive gotten "SUV drivers go to hell" on other threads from those not knowing I was one. Not that they would care.
    I remain optimistic that the price will continue to rise steadily

  13. #13
    not a role model JeffS's Avatar
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    Why is everyone in here obsessed with oil news?
    Last edited by JeffS; 04-25-08 at 07:59 AM.

  14. #14
    Road Runner PDay's Avatar
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    Quote Originally Posted by TuckertonRR View Post
    pday, keep on drinkin that Billy Beer driving your General Lee, as long as you can, cause when the easy to get at oil will be gone, and all that's left is heavy sour crude, tar sands, etc, and it costs $2. to extract $1. worth of usable refined product, youll wish you became a "hippie" instead of Luke Duke
    Man, you just don't have very good reading comprehension do you? Read the original post! You've missed the point twice now.

    Third time's the charm.

  15. #15
    Senior Member wahoonc's Avatar
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    Speaking of "terrorist" attacks...even with the higher gas prices I haven't read or heard about an increase in fuel thefts from vehicle tanks.

    Aaron
    Webshots is bailing out, if you find any of my posts with corrupt picture files and want to see them corrected please let me know. :(

    ISO: A late 1980's Giant Iguana MTB frameset (or complete bike) 23" Red with yellow graphics.

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    RIDE, YOU FOOL, RIDE!"
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    Which one would you rather have under your butt at 30mph?"
    _krazygluon

  16. #16
    Neil_B
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    Quote Originally Posted by JeffS View Post
    Why is everyone in here obsessed with oil news?
    It's not everyone.

  17. #17
    Banned Bikepacker67's Avatar
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    Quote Originally Posted by C Law View Post
    I remain optimistic that the price will continue to rise steadily
    Same here.
    I actually experience joy with every uptick.

    Ohh... and who whudda thought that an SUV driver would catch hell in a Living Car Free forum?

  18. #18
    Road Runner PDay's Avatar
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    Quote Originally Posted by Bikepacker67 View Post
    Same here.
    I actually experience joy with every uptick.

    Ohh... and who whudda thought that an SUV driver would catch hell in a Living Car Free forum?
    How many square feet is your house?

    Be honest now.

  19. #19
    Banned Bikepacker67's Avatar
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    Quote Originally Posted by PDay View Post
    How many square feet is your house?

    Be honest now.

    The house I share, with two roomates is about 1300 sqft. The small yard is 80% vegetable garden.
    It's centrally located in the city of Penticton; on a bus line; and within walking distance (and certainly riding distance) of work, groceries, etc.

    I'm serious about living Car Free and environmentally responsible. I'm not just playing games.

  20. #20
    bragi bragi's Avatar
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    Quote Originally Posted by PDay View Post
    How many square feet is your house?

    Be honest now.
    I'm sorta sorry you're catching hell -there's no excuse for personal attacks- but you'd get more sympathy if you would:

    1. Refrain from making personal attacks yourself;

    and

    2. Get rid of the SUV entirely. As has been stated (rather childishly I might add), 20 mpg isn't that impressive. And you're on a forum where a large percentage of the readers have either ditched their cars completely, have a chip on their shoulder about car culture in general, or both. As far as I'm concerned, I'm very glad you're posting, but let's keep the potential audience in mind. Would you go to a PETA forum and brag about your fur coat?
    If you're not part of the solution, you're part of the precipitate.

  21. #21
    jdaniel
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    Why is everyone attacking PDay? If you live car free why do you care what price oil is. Why do you care what PDay drives?

    If you wish to convince people to adopt your lifestyle, showing them your personal hatred for them is a sure fire way to get them to have nothing to do with or your lifestyle. How about befriending them? Trying to figure out why they do what they do. Understand them and appreciate them. Then offer helpful, non-judgemental, non-threatening advice on how you think they could, as a friend, live better.

    You people are freaks. I became "Car Free" the other day without knowing anything about this movement of yours. With what I'm finding out, I will make sure that no one calls me Car Free or that I am associated with LCF at all! I'll continue to live as I live, relying on my bike as much as possible. But I sure as hell won't direct any of my friends to this forum.

  22. #22
    Senior Member
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    Quote Originally Posted by jdaniel View Post
    Why is everyone attacking PDay? If you live car free why do you care what price oil is. Why do you care what PDay drives?
    Because much like our Religion and our Government here in the States people have attached moral rightness to their beliefs. If you don't believe the way I do then you are simply wrong. There is no middle ground.

    P-Day is doing what he can in his life and his way environment to cut back where he can, but if others can spot the differences showing where they have cut back more then they feel free to heap on the pain.

    I am not a green nut by any means, but I have started commuting to work on my bike. I also ditched my very low MPG jeep for a much higher MPG vehicle, but for some that was not enough. I get my milk from a local dairy in glass reusable bottles instead of plastic milk jugs from the grocery store. Should I point fingers and laugh at those without the luxury of a local diary. God forbid I live more than 5 miles from where I work because I am setting up home with the woman I love and she happens to not live around where I used to live. Let's all just ignore the fact that once I do that I will be offsetting the extra millage I drive with much lower electricity and natural gas usage since I will now be sharing what she used to use alone. Should I continue pointing out the things I might be doing that others are not, or should I go ahead and line up behind P-Day for my share of the rants? Feel free to come down on him, but at least he is doing something to try and be better instead of just ignoring the situation. There is a middle ground, and a step in the right direction should be applauded. Always remember that someone else can easily look at you and find the ways you are not doing as much as they are.

  23. #23
    Road Runner PDay's Avatar
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    Quote Originally Posted by bragi View Post
    I'm sorta sorry you're catching hell -there's no excuse for personal attacks- but you'd get more sympathy if you would:

    1. Refrain from making personal attacks yourself;

    and

    2. Get rid of the SUV entirely. As has been stated (rather childishly I might add), 20 mpg isn't that impressive. And you're on a forum where a large percentage of the readers have either ditched their cars completely, have a chip on their shoulder about car culture in general, or both. As far as I'm concerned, I'm very glad you're posting, but let's keep the potential audience in mind. Would you go to a PETA forum and brag about your fur coat?
    I became offended with the "Billy beer and General Lee" comments, when I am a 3.7 English major that is going to graduate school for an MA in English. Chances are, unless the guy who said that is an English professor, I will be much more educated than he is. I hate stereotypes of any sort, especially against the South.

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