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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (713941)	11/18/2005 10:31:02 AM
From: Hope Praytochange	Respond to of 769670

kennyboycrudeoilspeculator: oh boy, this market kills kennyscrudespeculator !!!

To: Kenneth E. Phillipps who wrote (713941)	11/18/2005 11:05:43 AM
From: Hope Praytochange	Read Replies (1) \| Respond to of 769670

Kennyboy: what was your oil price forecast at the time of katrina hit Florida ??? Oil Prices Drop on U.S. Inventory News By THE ASSOCIATED PRESS Published: November 18, 2005 Filed at 10:34 a.m. ET SINGAPORE (AP) -- Oil futures fell below $56 a barrel Friday on reassuring news about U.S. inventories of natural gas, easing worries about fuel supplies to heat homes this winter. Light, sweet crude for December delivery dropped 35 cents to $55.99 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe. In London, January Brent crude was up 11 cents to $54.96 on the ICE Futures Exchange. The decline came despite worries that prices had found a bottom and that sustained cold weather in the United States would support an upswing. The U.S. Northeast is the world's largest winter heating fuel market. Analysts have predicted an extremely cold, long winter would boost demand for heating oil and drive up energy prices in a traditionally peak-demand season. But crude has slipped to its lowest levels since June on an increase in U.S. inventories of natural gas, easing fears that there won't be enough fuel to heat homes as winter approaches. The U.S. Department of Energy's Energy Information Administration said Thursday that natural gas inventories rose by 53 billion cubic feet to 3.28 trillion cubic feet for the week ending Nov. 11. A day earlier, the EIA reported that in the past week the supply of distillates, which includes heating oil, jet fuel and diesel, grew by 2.6 million barrels to 123.4 million barrels, or 3 percent above year-ago levels. Both natural gas and heating oil are used to heat American homes. December heating oil was up marginally to $1.6975 a gallon (3.8 liters) on the Nymex, while natural gas for December delivery fell 35 cents to $11.587 per 1,000 cubic feet. Gasoline edged lower to $1.4575 a gallon. But many parts of the United States experiencing chilly weather in the past few days will see even colder blasts next week, according to an Accuweather.com forecast from Thursday. ''The arctic stocked up on a huge supply of ammo during the first half of November, and now it's unloading both barrels,'' said Accuweather.com senior meteorologist John Kocet. ''A much colder air mass arrived this week, but that's nothing compared to next week's blast.'' Kocet said the northern states, the east coast and deep south would be affected, producing snowfall in some areas.