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U.S. awash in oil, but global demand drives prices

Chron.com -- At midnight on April 11, a 940-foot tanker maneuvered into the dock at the oil terminal in Valdez, Alaska, carrying an unusual cargo for a returning ship.

Sloshing in its tanks were more than 12 million gallons of Alaskan crude, at least a quarter of the cargo the ship had carried away from Valdez two weeks earlier.

The Alaskan Explorer had sailed to a Washington refinery but was forced to return to Alaska with 300,000 barrels because the onshore storage tanks were too full to accept it, confirmed Anil Mathur, CEO of the Alaska Tanker Co., which owns the ship.

"Not the normal course of business," said John Kotula, one of the few outsiders privy to the incident because of his position as manager of the state of Alaska's environmental office in Valdez.

The tanker's inability to offload


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Submitted Apr 29, 2012 By: angel4me
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: U.S. awash in oil, but global demand drives prices Back to Topics
REPLIES (newest first) Post a Reply
jorod55
Champion Author California

Posts:4,721
Points:1,209,055
Joined:Dec 2011
Message Posted: Apr 29, 2012 10:28:56 PM

Supply?
Lack of Demand?
Just keep raising the price to cover the bottom line.
More record profits for 2012.
Cashless
Champion Author Akron

Posts:6,776
Points:1,512,365
Joined:Apr 2011
Message Posted: Apr 29, 2012 10:23:18 PM

O.K.
katmandue
Champion Author Detroit

Posts:9,416
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Joined:Jul 2006
Message Posted: Apr 29, 2012 10:22:30 PM

We don't need to drill more we need to use what we have more efficiently.
w9med
Champion Author Gary

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Points:808,470
Joined:Aug 2011
Message Posted: Apr 29, 2012 10:20:54 PM

And they want you to believe high prices are justified. I say bull!
portlandcat
Champion Author Tennessee

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Joined:Apr 2011
Message Posted: Apr 29, 2012 10:18:36 PM

OK
MrLuigi
Champion Author Massachusetts

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Message Posted: Apr 29, 2012 10:18:20 PM

just more proof that supply and demand aren't making the prices
uatide13
Rookie Author Alabama

Posts:28
Points:145,265
Joined:Apr 2012
Message Posted: Apr 29, 2012 10:13:55 PM

Thanks
gas_too_high
Champion Author Columbus

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Joined:Aug 2005
Message Posted: Apr 29, 2012 10:11:56 PM

One would think that, if this happens often enough, this crude could be exported, instead of just sitting in storage tanks next to a refinery.

GTH
FrankTA2
Champion Author New York

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Message Posted: Apr 29, 2012 10:10:53 PM

Big oil drives prices.
mattymattmatt
Champion Author Scranton

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Message Posted: Apr 29, 2012 10:06:52 PM

Herp Derp.
WebGabe
Champion Author Pennsylvania

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Message Posted: Apr 29, 2012 10:05:00 PM

Bad bad bad.
adgam
Champion Author Orange County

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Message Posted: Apr 29, 2012 10:03:47 PM

Just great
Bildawg
Champion Author Ohio

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Message Posted: Apr 29, 2012 10:01:48 PM

hmmmmm
radiorumor
Champion Author Texas

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Message Posted: Apr 29, 2012 10:00:54 PM

This has to be Obama’s fault some how
sammy518
Champion Author Austin

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Message Posted: Apr 29, 2012 10:00:49 PM

sure
slowpoke63
Champion Author Louisiana

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Message Posted: Apr 29, 2012 10:00:26 PM

ok
bvrbill
Champion Author Eugene

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Message Posted: Apr 29, 2012 10:00:07 PM

We need to continue the development of natural gas vehicles. While the rest of the world burns oil in the global market, maybe we can keep natural gas domestic.
memo81
Champion Author St. Louis

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Message Posted: Apr 29, 2012 9:59:37 PM

Unacceptable
Blue48
Champion Author Illinois

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Message Posted: Apr 29, 2012 9:56:51 PM

WASTE OF A TRIP!
robaloma
Champion Author Houston

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Message Posted: Apr 29, 2012 9:56:30 PM

great
darkknight1
Champion Author Winston-Salem

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Message Posted: Apr 29, 2012 9:56:20 PM

The supply is not the problem...
GLM4205
Champion Author Toledo

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Message Posted: Apr 29, 2012 9:51:55 PM

Just sell the surplus! Think outside the box.
ratones1
Champion Author Los Angeles

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Message Posted: Apr 29, 2012 9:49:11 PM

OK...
kishoreCA
Champion Author Ventura

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Message Posted: Apr 29, 2012 9:47:11 PM

I never understand this gas business...
Cakes77
Champion Author Harrisburg

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Joined:Aug 2006
Message Posted: Apr 29, 2012 9:43:03 PM

..and yet the prices stay up.

babugp
Veteran Author Philadelphia

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Joined:Mar 2012
Message Posted: Apr 29, 2012 9:43:02 PM

k
ILANGE9
Champion Author Illinois

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Message Posted: Apr 29, 2012 9:42:01 PM

The world is going to Hell and we're all in hand baskets.
Jeffro61
Champion Author Cleveland

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Message Posted: Apr 29, 2012 9:40:00 PM

Then why aren't prices dropping faster.
rodzilla123
Champion Author San Diego

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Message Posted: Apr 29, 2012 9:39:47 PM

Most countries in the World have a Domestic Price and a world price of Crude Oil. This allows them to sell cheeper to their Citizens that the world. Only Greedy Wall Street BUGGERS want to make them the same here in America.
BWJM
Champion Author KW

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Message Posted: Apr 29, 2012 9:38:50 PM

ok
ED6
Champion Author Riverside

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Message Posted: Apr 29, 2012 9:35:18 PM

Still $4.00/gallon here in SoCal.
VernonOR
Champion Author Oregon

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Message Posted: Apr 29, 2012 9:32:04 PM

Supply and demand is broken when it comes to fuel.
heysailor
Champion Author Pittsburgh

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Message Posted: Apr 29, 2012 9:26:37 PM

It would help if we didn't export as much refined product.
eye-spy
Champion Author Quebec

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Message Posted: Apr 29, 2012 9:26:06 PM

I tend to agree with "Rancher23".
wang91554
Champion Author San Jose

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Message Posted: Apr 29, 2012 9:24:56 PM

Saudi oil is still cheaper, unfortunately. Maybe they'll run dry soon. Then we can sell it to them at double the price.
WIWalt
Champion Author Wisconsin

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Message Posted: Apr 29, 2012 9:24:23 PM

Up at the pump again
boborobot
Champion Author Michigan

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Message Posted: Apr 29, 2012 9:23:43 PM

Interesting
CAD69
Champion Author Milwaukee

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Message Posted: Apr 29, 2012 9:21:46 PM

Wow!
Ken2OD
Champion Author Grand Rapids

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Message Posted: Apr 29, 2012 9:21:24 PM

The USA has been dealing with the "haves" and the "have nots" for decades. Back then, we could tell the others what to do. Now the shoe is on the other foot and we have become the "have nots"! The Third World countries are now setting the rules for us to follow.
MG_Sputnik
Champion Author Philadelphia

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Message Posted: Apr 29, 2012 9:19:07 PM

Doesn't matter how much we conserve now.
jmdk721
Champion Author Missouri

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Message Posted: Apr 29, 2012 9:18:51 PM

ok
Rancher23
Champion Author Cincinnati

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Message Posted: Apr 29, 2012 9:15:08 PM

It's painfully obvious to everyone that Oil prices are manipulated by speculators and Oil companies or else Oil would be less than half the price it is and Gas would be well under $2 a gallon, But Big Oil Exec and Speculators do not want that to happen!!!!!
LadyBugNIL
Champion Author Illinois

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Message Posted: Apr 29, 2012 9:10:03 PM

ok
ericbcire
Champion Author Nevada

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Message Posted: Apr 29, 2012 9:08:11 PM

If demand drove prices, oil would be under $40 per barrel.
jerej829
Champion Author Memphis

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Message Posted: Apr 29, 2012 9:07:57 PM

Yea
mcmonsta
Champion Author Honolulu

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Joined:Sep 2009
Message Posted: Apr 29, 2012 9:07:50 PM

less supply does usually equate to higher prices & who do you think will pay for this booboo?
mikaye
Champion Author Cleveland

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Message Posted: Apr 29, 2012 9:06:13 PM

another example of gouging. reduce supply.
Tegger
Champion Author Ontario

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Joined:Nov 2005
Message Posted: Apr 29, 2012 9:06:08 PM

Interesting
theschmuck
Champion Author Michigan

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Message Posted: Apr 29, 2012 9:05:57 PM

This just goes to validate that they don't care about our own folks here at home, just so much BS.
OKRifle
Champion Author Oklahoma City

Posts:14,122
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Joined:Oct 2007
Message Posted: Apr 29, 2012 9:05:36 PM

No help for the home folks!
tatker
Champion Author Asheville

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Points:1,091,755
Joined:Dec 2010
Message Posted: Apr 29, 2012 9:04:53 PM

yep
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