Oil Surges as Cold Weather in Europe May Lower Fuel Stockpiles

[Emillereid]

Nov. 19 (Bloomberg) -- Crude oil surged 4.8 percent in New York, the biggest increase in more than five months, on concern that cold weather in Europe will attract heating oil from the U.S.


Temperatures in Germany, the largest heating-oil market in Europe, are expected to stay below normal this weekend. U.S. heating-oil supplies of 49.1 million barrels in the week ended Nov. 12 were 12 percent lower than the same week last year, according to Energy Department figures. Oil also fell because the dollar plunged against the yen and euro.


``There's a scramble for product right now in Europe and demand is coming out of Germany,'' said Ed Silliere, vice president of risk management at Energy Merchant LLC in New York, which markets wholesale gasoline and heating oil. ``Germany is behind on inventories.''


Crude oil for December delivery rose $2.22 to close at $48.44 a barrel on the New York Mercantile Exchange. It's the biggest jump since June 1, when the market reacted to a weekend attack that killed 22 people in an oil-producing region of Saudi Arabia. Prices are up 2.4 percent this week. Futures are up 49 percent in the past year.....

http://www.bloomberg.com/apps/news?pid=10000087&refer=top_world_news&sid=aNrIBLfx8eG4#

Peak Oil anyone?

[Ravenseye]

1. Start Chopping Wood Folks.

I wonder if I will be able to knock down the shelves in the fireplace in my apartment and make it functional again...

[StClone]

4. Don't say that

This severely affects our wildlife which needs mature trees and dead standing trees.

People will scrounge, steal, take and scour the countryside for trees, dead or alive. Between the lumber companies and fire wooders all that is left are toothpicks in our woodlands.

There are also these outside burners that will burn any type of wood, and basically rubbish, to generate heat. They stink to high heaven and and release a piercing, acrid stench that dooms local air quality.

[Ravenseye]

5. Ok So How Will I Keep My Family From Freezing?

What happens when the oil truck doesn't show up and it's 15 degrees outside? What happens when it shows up and they quadruple the price on the spot which I can't pay?

So if I don't have the oil to heat the house, and I can't burn wood....what should I use? Coal?

[StClone]

7. I Love the Clean smell of Oak or Hard Maple from a chimney

But many will be in a bad situation if prices climb and around here they will burn even wooden pallets -- yuck!

I just note the aftermath of the last energy spike and it wasn't pretty . I pray for a warm winter and level prices.

[aneerkoinos]

9. Better insulation

is the first step. Wood is renewable and good, if not overused. All fossile is bad bad bad.

Better start studying and finding not only how to keep your own house warm but about communal solutions (e.g biofuel co-ops) for autonomous energy economy; it's only going to get worse if you expect others to do the job for you. Bush ain't gonna do that and oil and NG production are peaking.

Some links to start with, google for more:
http://www.ibiblio.org/ecolandtech/renewableenergy+greenbuilding-page.html

[lapfog_1]

2. Yup - expect wild swings in spot market oil for the next

year or more, until it becomes an accepted fact that there isn't
enough production to meet demand, even if stability (relative) returns
to the ME. After the market accepts peak oil, expect the market price
to be as much as 3 times current spot market price. Oil wars will
become common... our competition? China, Europe, India. Oh what
fun we will have in a PNAC world.

[amandabeech]

3. Natural gas supplies may also get tight by the end of the year.

Only those people who heat by electricity, heat pump or otherwise, coal or wood are safe this year. I have oil and have dialed back my thermostat.

Now is the time for * to show some leadership and level with us about limits on fossil fuel generally, not just oil. Personally, I believe that more people in the * administration know about it and just aren't talking.

I know it's a pipe dream, but as a former oil man, * is perfectly placed to tell the truth. After all, only Nixon could go to China.

[aneerkoinos]

10. Bush & leadership?

Hmm... I think it's safer for people to show initiative themselves and leadership of their own than to expect the Regime to act... really!

[amandabeech]

12. You're absolutely right.

But I can dream, can't I?

Really, it's time for those states who are interested to band together and encourage conservation, emergency aid and whatever is necessary. That includes states governed not only by Democrats but also sensible Repugs who recognize that problem.

Notice that the Northeast is the heaviest user of fuel oil for heat? The Midwest, including blue states such as Illinois, Michigan, Wisconsin and Minnesota, are heavily dependent on natural gas and propane.

Bush rewards loyalty and punishes disloyalty, to the point of endangering lives.

What a guy.

[krkaufman]

6. Can you say "Imminent Conveyer Shutdown"..???

http://www.whoi.edu/institutes/occi/currenttopics/ct_abruptclimate.htm

http://seis.natsci.csulb.edu/rbehl/ConvBelt.htm

[Emillereid]

8. I think it's a race between man-made disasters that will take

down civilization first -- abrupt climate change ("it's getting cold in here -- someone turn up the heat") or peak oil ("Should we turn up the heat tonight dear or eat? You know we can't afford to do both.")

Thanks for the links? Have you read Boiling Point: How Politicians, Big Oil and Coal, Journalists and Activists Are Fueling the Climate Crisis--And What We Can Do to Avert Disaster by Ross Gelbspan

[Yo_Mama_Been_Loggin]

11. Knew the falling prices was a temporary thing

[Deja Q]

13. No wonder OPEC will cut production due to US stockpiling...

The US will in turn sell the oil at inflated prices. It's a "quaint" idea.

OPEC will not like that.