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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (128678)	6/12/2008 9:50:06 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

GOP resurrects offshore oil drilling plan tampabay.com WASHINGTON — With gas topping $4 a gallon, Republicans on Capitol Hill are reviving an issue that most Florida politicians and environmentalists had considered settled: offshore oil and gas drilling. On Wednesday, a House subcommittee narrowly defeated a measure to allow oil and gas exploration as close as 50 miles off the entire U.S. coastline, including portions of the eastern Gulf of Mexico protected by a hard-fought 2006 compromise. The amendment is expected to come up again when the full House Appropriations Committee meets next week. Gas prices are a top concern for voters, and Republicans see political opportunity as well as a chance to reverse the 30-year-old U.S. policy of restricting energy exploration off Florida, most of California and the mid-Atlantic. Republican leaders have begun to refer to the Democrat-led House as the "Drill-Nothing Congress," and members of the House and Senate have proposed revisiting the idea of drilling in Alaska's Arctic National Wildlife Refuge

To: patron_anejo_por_favor who wrote (128678)	6/12/2008 9:54:10 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Treasury 10-Year Note Yields Rise to Year High on Retail Sales bloomberg.com June 12 (Bloomberg) -- Treasuries fell, pushing the yield on the benchmark 10-year note to the highest level this year, after a larger-than-expected gain in retail sales bolstered the case for the Federal Reserve to boost interest rates. The yield on the 10-year note has climbed 94 basis points since March 17, when the Fed backed JPMorgan Chase & Co.'s bailout of Bear Stearns Cos., a sign to traders that the seizure in credit markets caused by the subprime mortgage collapse was ending. Losses in Treasuries accelerated after policy makers signaled they would stop cutting interest rates and Fed Chairman Ben S. Bernanke said June 3 that ``we are attentive to the implications of changes in the value of the dollar for inflation and inflation expectations.'' ``The story right now is purely an inflation story,'' said David Glocke, who manages $75 billion of Treasuries at Vanguard Group Inc. in Valley Forge, Pennsylvania. ``The key issue is the market's response to increased focus by the Fed on the inflation picture.'' Ten-year note yields increased 14 basis points to 4.22 percent at 4:04 p.m. in New York, according to bond broker BGCantor Market Data. That's the highest since Dec. 27. The 3.875 percent security due May 2018 declined 1 6/32, or $11.88 per $1,000 face amount, to 97 7/32. A basis point is 0.01 percentage point. Yields on 10-year notes had dropped to an almost five-year low of 3.28 percent on March 17. The increase in yields in the steepest in four years. Rates on three-month bills plunged to 0.39 percent, the lowest since the 1950s, the same day as investors sought the safety of the shortest maturity government debt.

To: patron_anejo_por_favor who wrote (128678)	6/12/2008 11:13:01 PM
From: ChanceIs	Respond to of 306849

>>>refiners capable of refining heavy and sour oils are going to prosper in the future,<<< Bingo. I shorted some $10 WNR June poots yesterday. Taste good today. Might close them tomorrow. Of course this close to expiry the time premium runs through the hourglass quite quickly. then again, pigs get fat....... Speaking of getting fat, my wife was looking at he 50 most caloric foods...or some such. A Chiapolte (sp?) Grill (CMG) burrito came in way up there. I shorted some $95ish calls on that puppy yesterday. It looks like it put in upward resistance around that level.