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  • tedyeat
    Maybe a Hampster powered hybrid van....??? ... Crude May Rise to $120 in Six Months, Taqa CEO Says (Update2) By Glen Carey March 4 (Bloomberg) -- Crude oil may
    Message 1 of 3 , Mar 4, 2008
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      Maybe a Hampster powered hybrid van....???

      ----------------------------------
      Crude May Rise to $120 in Six Months, Taqa CEO Says (Update2)

      By Glen Carey

      March 4 (Bloomberg) -- Crude oil may rise to $120 a barrel within six
      months due to the dollar weakness and global political tensions, the
      chief executive officer of Abu Dhabi National Energy Co. said.

      ``I think a trading range between $80 and $120 a barrel this year is
      about right,'' Peter Barker-Homek, the head of the United Arab
      Emirates state-controlled company, which is also known as Taqa, said
      in an interview in Dubai today. ``But with the softness of the
      dollar, and the occasional interruptions that you have because of
      politics, I think we could see $120 oil.''

      In October, Barker-Homek said that crude would rise to $100 from $80
      before the end of the first quarter because of unfettered Asian
      demand growth and possible supply shocks. Oil prices continued to
      rise today after the Taqa CEO made his latest forecast.

      Crude oil for April delivery rose as much as 70 cents in earlier
      electronic trading on the New York Mercantile Exchange and was up 28
      cents at $102.73 a barrel at 2:06 p.m. London time. The Organization
      of Petroleum Exporting Countries will meet tomorrow in Vienna, where
      members have already ruled out changing output.

      The dollar traded near a record low versus the euro as traders
      increased bets that the Federal Reserve will lower interest rates by
      0.75 percentage point this month. The U.S. currency was at $1.5217
      per euro.

      Sub-Prime Opportunities

      The Abu Dhabi-based energy company, with $21 billion in assets,
      expects to grow its business this year by 25 percent, or $5 billion,
      and has plans to make acquisitions in Europe and the U.S., Barker-
      Homek said. ``In order to achieve our goal of being a $60 billion
      asset company by 2012, we have to grow our asset base by 25 percent
      year-on-year.''

      The U.S. subprime mortgage crisis will provide state- controlled Taqa
      with investment opportunities over the next two to three years as
      smaller energy companies in the U.S. and Europe look to expand their
      energy assets without having to borrow from banks, he said.

      Energy companies ``have to make some decisions about either
      sacrificing growth, in which case they will be compromising
      shareholder value growth, or look for merger of equals or take over
      candidates,'' Barker-Homek said. ``There are ample opportunities to
      grow the franchise.''

      Persian Gulf sovereign wealth funds, whose coffers are swelling from
      the near-record oil prices, are snapping up stakes in banks battered
      by U.S. subprime mortgage losses. Citigroup Inc. was propped up in
      November by a $7.5 billion investment from the Abu Dhabi Investment
      Authority after losing almost half its market value.

      Taqa plans to expand its crude oil production to 200,000 barrels a
      day of oil equivalent by 2009, up from its production of 160,000
      barrels a day now, Barker-Homek said.
    • DAVE COCKBURN
      Hi all, I can t predict the future but, gas wil not hit $1.40 this summer. Don t believe everything you hear, we go down this parinoid road every year. As
      Message 2 of 3 , Mar 9, 2008
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        Hi all, I can't predict the future but, gas wil "not" hit $1.40 this summer. Don't believe everything you hear, we go down this parinoid road every year. As for Taga & 200,000 barrels a day, we spill more than that {LOL}. That's just a pee in the bucket.

        RNR Rooster
        {one of those bad oil guys}

        tedyeat <tedyeat@...> wrote:
        Maybe a Hampster powered hybrid van....???

        ----------------------------------
        Crude May Rise to $120 in Six Months, Taqa CEO Says (Update2)

        By Glen Carey

        March 4 (Bloomberg) -- Crude oil may rise to $120 a barrel within six
        months due to the dollar weakness and global political tensions, the
        chief executive officer of Abu Dhabi National Energy Co. said.

        ``I think a trading range between $80 and $120 a barrel this year is
        about right,'' Peter Barker-Homek, the head of the United Arab
        Emirates state-controlled company, which is also known as Taqa, said
        in an interview in Dubai today. ``But with the softness of the
        dollar, and the occasional interruptions that you have because of
        politics, I think we could see $120 oil.''

        In October, Barker-Homek said that crude would rise to $100 from $80
        before the end of the first quarter because of unfettered Asian
        demand growth and possible supply shocks. Oil prices continued to
        rise today after the Taqa CEO made his latest forecast.

        Crude oil for April delivery rose as much as 70 cents in earlier
        electronic trading on the New York Mercantile Exchange and was up 28
        cents at $102.73 a barrel at 2:06 p.m. London time. The Organization
        of Petroleum Exporting Countries will meet tomorrow in Vienna, where
        members have already ruled out changing output.

        The dollar traded near a record low versus the euro as traders
        increased bets that the Federal Reserve will lower interest rates by
        0.75 percentage point this month. The U.S. currency was at $1.5217
        per euro.

        Sub-Prime Opportunities

        The Abu Dhabi-based energy company, with $21 billion in assets,
        expects to grow its business this year by 25 percent, or $5 billion,
        and has plans to make acquisitions in Europe and the U.S., Barker-
        Homek said. ``In order to achieve our goal of being a $60 billion
        asset company by 2012, we have to grow our asset base by 25 percent
        year-on-year.''

        The U.S. subprime mortgage crisis will provide state- controlled Taqa
        with investment opportunities over the next two to three years as
        smaller energy companies in the U.S. and Europe look to expand their
        energy assets without having to borrow from banks, he said.

        Energy companies ``have to make some decisions about either
        sacrificing growth, in which case they will be compromising
        shareholder value growth, or look for merger of equals or take over
        candidates,'' Barker-Homek said. ``There are ample opportunities to
        grow the franchise.''

        Persian Gulf sovereign wealth funds, whose coffers are swelling from
        the near-record oil prices, are snapping up stakes in banks battered
        by U.S. subprime mortgage losses. Citigroup Inc. was propped up in
        November by a $7.5 billion investment from the Abu Dhabi Investment
        Authority after losing almost half its market value.

        Taqa plans to expand its crude oil production to 200,000 barrels a
        day of oil equivalent by 2009, up from its production of 160,000
        barrels a day now, Barker-Homek said.






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      • Dale Kidd
        ... On a serious note... While hybrid vehicles may indeed provide a solution suitable for some of us, I have yet to see one that is capable of efficiently
        Message 3 of 3 , Mar 9, 2008
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          tedyeat <tedyeat@...> wrote:
          > Maybe a Hampster powered hybrid van....???

          On a serious note...

          While hybrid vehicles may indeed provide a solution suitable for some
          of us, I have yet to see one that is capable of efficiently
          (read "cheaply") pulling our trailers laden with boats, cannon, or tons
          of sutlery goods. Until hybrid technology reaches a point where it can
          reliably duplicate the full capabilities of the internal combustion
          engine at a fraction of the cost, hybrid vehicles will not truly
          provide a viable alternative for many of us. And that's a shame,
          because getting to events certainly isn't getting any cheaper year to
          year.

          ~Dale
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