Joshua's Feed
Aug 25, 2011

East Coast energy firms brace for Irene impact

NEW YORK (Reuters) – From nuclear plants to pipelines and refineries, energy firms on the East Coast braced on Thursday for a potentially devastating Hurricane Irene that could make landfall this weekend in North Carolina.

Irene, a Category 3 hurricane barreling toward the most densely populated part of the United States, is prompting energy suppliers to secure equipment, put emergency plans in action and warn customers about potential power disruptions.

Aug 24, 2011

Quake raises safety concerns as US nuclear plant shut

HOUSTON/NEW YORK, Aug 23 (Reuters) – The largest earthquake
to hit the East Coast of the United States in 67 years raised
concerns on Tuesday about the safety of the country’s nuclear
power plants.

The 5.8 magnitude quake’s epicenter was just a few miles
from the two-reactor North Anna nuclear power plant operated by
Dominion Resources (D.N: Quote, Profile, Research, Stock Buzz) in Mineral, Virginia, 80 miles
southwest of Washington.

Aug 23, 2011

Oil rises on anticipation Fed may signal stimulus

NEW YORK (Reuters) – Oil rose on Tuesday on speculation the U.S. Federal Reserve could embark on fresh stimulus measures for the economy, and on continued violence in Libya and planned disruptions to Nigeria’s oil exports.

U.S. crude for October delivery rose by 91 cents to $85.33 a barrel and European benchmark Brent traded up 80 cents at $109.20 by 1:52 p.m. in New York.

Aug 23, 2011

Analysis: Rails, not pipes, may tame twisted oil market

NEW YORK (Reuters) – U.S. crude oil shipments by railroad could help to end gaping price distortions in world oil markets faster than most traders have been expecting.

Rail shipments of crude from the landlocked and oversupplied Midwest to refiners in the Gulf Coast appear set to surge next year, to nearly double the volume now flowing in congested pipelines between the regions.

Aug 23, 2011

Rails, not pipes, may balance distorted oil market

NEW YORK (Reuters) – U.S. crude oil shipments by railroad could help to end gaping price distortions in world oil markets faster than most traders have been expecting.

Rail shipments of crude from the landlocked and oversupplied Midwest to refiners in the Gulf Coast appear set to surge next year, to nearly double the volume now flowing in congested pipelines between the regions.

Aug 16, 2011

Exclusive: Valero to back Double E oil pipeline

NEW YORK (Reuters) – Top U.S. refiner Valero is likely to commit to shipping crude on Enterprise Products Double E pipeline, a 450,000 bpd oil link that would run from Cushing, Oklahoma, to Houston and could begin operating before 2013, two industry sources told Reuters on Tuesday.

Enterprise and its partner, Energy Transfer, have been scrambling to drum up commitments from oil shippers to help it build the line, which could alleviate a glut of crude in the U.S. midcontinent.

Aug 14, 2011

Recession could tip U.S. oil use into permanent decline

NEW YORK (Reuters) – As a U.S. economic rebound stalls and threatens to spiral into recession, oil demand in the world’s top consumer may be slipping into an irreversible decline.

Last year’s fledgling recovery in U.S. oil usage — when demand rose 400,000 barrels per day (bpd) — made up for only a part of the 1 million bpd demand drop during a year of economic turmoil that began in August 2008.

Aug 14, 2011

Analysis:Recession could tip U.S. oil use into permanent decline

NEW YORK (Reuters) – As a U.S. economic rebound stalls and threatens to spiral into recession, oil demand in the world’s top consumer may be slipping into an irreversible decline.

Last year’s fledgling recovery in U.S. oil usage — when demand rose 400,000 barrels per day (bpd) — made up for only a part of the 1 million bpd demand drop during a year of economic turmoil that began in August 2008.

Aug 4, 2011

US firms plan rail expansion to profit from oil spread

NEW YORK, Aug 4 (Reuters) – Logistics firms are
accelerating plans to build crude-by-rail terminals in the
United States as shippers look to transport more oil on
railroads to capture massive oil price spreads between the
country’s northern and southern regions.

Logistics firm Musket said on Thursday it would build
capacity to ship 70,000 barrels a day of oil by railroad from
North Dakota’s Bakken region, and competitor Plains All
American (PAA.N: Quote, Profile, Research, Stock Buzz) said it is also boosting crude-by-rail
capacity.

Aug 4, 2011

Analysis: Oil traders ask “what glut?” as Midwest stocks shrink

NEW YORK (Reuters) – The latest U.S. oil inventory data contradict a widely held notion among oil traders that a huge glut of Canadian and U.S. shale crude oil is accumulating in the middle of the United States and causing the record gap in global oil benchmark prices.

Instead, U.S. commercial crude oil inventories in the Midwest and Cushing, Oklahoma, fell last week to their lowest this year. Midwest, or PADD 2 stocks, are now lower than they were a year ago, the first time in over 12 months that they have fallen below year-earlier levels.