B of A Expects Libya Oil Production To Shut Down Completely
thestatedtruth.com | February 24, 2011
Oil production in Libya is expected to shut down completely and could be lost for a prolonged period of time, Bank of America Merrill Lynch said on Thursday. U.S. officials said current oil stockpiles were adequate to meet any supply disruptions. So, can we believe them is the big question!
Cumberland Advisors – Nowhere Near Over!
thestatedtruth.com | February 23, 2011
Nowhere Near Over February 23, 2011 This is nowhere near over.  By “Thisâ€, we mean the regional contagion, spreading violence and rising geopolitical risk in the Middle East and North Africa.   Reports say that Libya has stopped producing oil and that pipeline delivery to Europe (Italy) is interrupted. Libya seems headed for complete dismemberment and […]
British Foreign Minister Reports Gaddafi On Way To Venezuela…Gaddafi Says No, He Is In Tripoli
thestatedtruth.com | February 21, 2011
Inquiring minds want to know what happens to the Libyan Gold….Uh, one guess…It follows Gaddafi out of Libya. Duh! Libya had 143.8 tonnes of Gold and is (was) the ninth largest oil producer!
Iran Police Disperse Tens Of Thousands Of Tehran Protesters
thestatedtruth.com | February 14, 2011
The list grows….Algeria riots yesterday, Bahrain earlier today, and Iran now.  It’s a rapidly deteriorating situation in Tehran, where protesters are chanting ‘Death to Khamenei.’  AP:  “Clashes between Iranian police and tens of thousands of protesters wrecked central Tehran on Monday as security forces beat and fired tear gas at opposition supporters hoping to evoke Egypt’s […]
Algeria Next Up?
thestatedtruth.com | February 14, 2011
Will the growing vacuum in power be filled by the Brotherhood? That’s the big risk here! Algeria shuts down internet and Facebook as protest mounts……. Internet providers were shut down and Facebook accounts deleted across Algeria on Saturday as thousands of pro-democracy demonstrators were arrested in violent street demonstrations. By Nabila Ramdani Plastic bullets and […]
Pirates Of The….Indian Ocean
thestatedtruth.com | February 9, 2011
A tanker with $200 million in oil is hijacked off Oman as Piracy spins out of control on the Indian Ocean’ shipping lanes….The hijacking came a day after an Italian tanker carrying oil worth more than $60 million was snatched by Somali pirates. LONDON/ATHENS — Suspected Somali pirates captured a U.S.-bound tanker carrying around $200 million worth of […]
“Chicken” Of The Sea………If You Get Our Drift
thestatedtruth.com | February 6, 2011
Captain: That’s an awful big looking Tuna (inquiring minds think it might be a shark)……yep, it’s bigger then the USS Recovery ship can handle for sure! So what do we do?  Hint: Start those engines and run, baby…run. www.jsmineset.com
Natural Gas….No Shortage Here!
thestatedtruth.com | January 25, 2011
This article explains why natural gas is so cheap. Oil companies used to just burn off the natural gas in the Gulf of Mexico  because they didn’t know what to do with it.  Who has been harking on this subject for years, yep….Oklahoma farm boy and self made billionaire T Boone Pickens. He says we need to take advantage […]
MasterCard’s Spending Pulse Data Shows Gasoline Demand Up 4.6% On The Week
thestatedtruth.com | December 28, 2010
MasterCard Spending Pulse Data showed average gasoline price for regular at 3.00/gallon. Gasoline spending rose 4.6% for the week and was 3.9% higher then one year ago same week.Â
Gasoline On A Roll To The Upside….Here Is A Breakdown Of What Goes Into Each Gallon Of Gas At The Pump
thestatedtruth.com | December 26, 2010
U.S. gasoline prices hit an average $3 a gallon for the first time in more than two years, according to AAA’s Daily Fuel Gauge Report. But there is no oil or gasoline shortage….So inquiring minds ask how could crude oil and gasoline be at this price level given ample supplies, and a lack luster macroeconomic […]
Oil Is Around $91 A Barrel, Here’s How It Effects Us
thestatedtruth.com | December 23, 2010
The recent jump in crude to around the $91 area has wiped out virtually the entire benefit from the just passed payroll tax “stimulus”. That’s just oil mind you, we haven’t even talked about the food inflation yet.  For every cent rise in gasoline,  the country loses $600 million in consumer buying power…….  And ….Every $1 rise […]
U.S. Gasoline Price Rises 3.92 Cents A Gallon, More To Come!
thestatedtruth.com | December 5, 2010
Inflation anybody? “What we’re seeing is really just the tip of the iceberg,†Trilby Lundberg said today in a telephone interview. “At the retail level, we could see another six to eight more cents†per gallon as refiners pass through higher crude costs. The average price for regular gasoline at U.S. filling stations rose 3.92 cents […]
Cumberland’s Oil Slickonomics – Part 13 – Idle Iron
thestatedtruth.com | November 8, 2010
Oil Slickonomics-Part 13-Idle Iron November 8, 2010 In our recent comment entitled Oil Slickonomics Part 12 we discussed how the federal government is implementing a policy that functions as a de facto moratorium, even though the Obama administration has formally lifted the de jure oil drilling moratorium. We appreciate the readers who responded, and we […]
Cumberlands Oil Slickonomics – Part 12 – An Update
thestatedtruth.com | November 7, 2010
Oil Slickonomics-Part 12-An Update November 4, 2010 We will start this note with two links. The first is to the October 2010 edition of the National Geographic. It is devoted to the Gulf oil spill, with a comprehensive report that includes excellent maps and photos. Those who lean green will find support in this assemblage of […]
CIA Says Terror Plot Planned On Europe And The West
thestatedtruth.com | September 27, 2010
Heightened Terror Threats In Europe WASHINGTON….. In an effort to preempt a suspected terrorist plot(s) against European targets, the Central Intelligence Agency has targeted missile strikes against militants in Pakistan’s tribal regions, according to current and former officials. The strikes, launched from unmanned drone aircraft, represent a rare use of the CIA drones to preempt a possible […]
Best Commodity Bet? Goldman Sees A Clear Winner
thestatedtruth.com | September 17, 2010
By Bloomberg News September 17, 2010 The best returns in commodities over the next 12 months will probably be in energy and the biggest losses in agriculture, Goldman Sachs Group Inc. said. The bank is forecasting a 27 percent advance in energy over 12 months, a 17 percent jump in precious metals and a 15 […]
Baseline Blue Emissions Chart
thestatedtruth.com | September 16, 2010
While the world is expected to reduce emissions to 50% by 2050 in the BLUE scenario, it is the OECD that will bear the real burden. Non- OECD countries can get away with just a 50% reduction; OECD countries are looking at cutting 70-80% of their 2007 emissions. This would mean that the electricity sector for […]
World Commodities…..An Interactive Look At What’s Left
thestatedtruth.com | September 12, 2010
09/12/2010 Scientific American has done a summary of peak commodity levels as well as depletion projections for some of the most critical resources in the world including oil, gold, silver copper, not to mention renewable water, as well as estimating general food prices over the next half century. Generally speaking, regardless of whether one believes […]
Thoughts From John Mauldin’s The Frontline Weekly Newsletter
thestatedtruth.com | August 14, 2010
The Gulf Oil Spill Disaster                                                     By John Mauldin                                                      August 13, 2010                         From Unmitigated Disaster to Merely Disaster First, let’s begin with the “good” news. The ecological destruction that was first feared is not going to be as bad as once thought, for a variety of reasons. It is not good, but it […]
This May Be Just The Beginning Of British Petroleum’s Problems With The Gulf States
thestatedtruth.com | August 13, 2010
Alabama is suing BP Plc and Transocean for damages sustained from the Gulf of Mexico oil spill, the state’s attorney general said on Friday. “We are making this claim because we believe that BP has inflicted catastrophic harm on the state,” attorney general Troy King told Reuters. “We are suing them for the amount it […]
Cumberland….More On The Oil Spill And Its Effects
thestatedtruth.com | August 12, 2010
The Oil Spill August 12, 2010 It has been over three months since the beginning of the oil spill in the Gulf of Mexico. Since then it has cost billions of dollars in terms of lost jobs, tourism, and the battering that local fishing industries have had to endure. At Cumberland Advisors, we have written […]
British Petroleum Says Test Shows Well Is Plugged
thestatedtruth.com | August 8, 2010
Can we believe them! Â British Petroleum announced that a test on the cementing operation needed to plug its well in the Gulf of Mexico was successful.
British Petroleum Says Blown-Out Gulf Well Is in ‘Static Condition’!
thestatedtruth.com | August 4, 2010
Well plugged…..Let’s hope so. ON THE GULF OF MEXICO — In a significant step toward stopping the worst offshore oil spill in U.S. history, BP said Wednesday mud that was forced down its blown-out well was holding back the flow of crude in the Gulf of Mexico and it was in a “static condition.” There is […]
BP Starts `Static Kill’ On Gulf Well
thestatedtruth.com | August 3, 2010
By Jim Polson and Katarzyna Klimasinska – Aug 3, 2010 BP Plc started plugging its Gulf of Mexico oil well with drilling mud, another step in the company’s effort to permanently seal the source of history’s worst accidental oil spill. BP began pumping mud into the top of the well for its “static kill†operation […]
Storm Bonnie Weakens
thestatedtruth.com | July 24, 2010
 About 31 percent of U.S. oil output and about 10 percent of gas production, comes from the Gulf of Mexico according to the Energy Department By Dan Hart – Jul 24, 2010 Bonnie has degenerated to a “disorganized area of low pressure†near the U.S. Gulf Coast, hours after the National Hurricane Center lifted […]
Tropical Storm Bonnie Set To Hit Sunday…..Louisiana Declares State Of Emergency
thestatedtruth.com | July 22, 2010
  * Louisiana declares state of emergency  * U.S. officials evaluating whether to evacuate area  Thu Jul 22, 2010 By Kristen Hays and Anna Driver HOUSTON, July 22 (Reuters) – BP Plc (BP.L) (BP.N) oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a tropical storm threatened […]
Gulf Of Mexico Oil News Out Of The U.K.
thestatedtruth.com | July 20, 2010
Interesting happenings between U.S. government and BP………….A standoff between BP and the US government over the handling of the stricken Macondo well in the Gulf of Mexico continued with a sharp exchange of words over the best way to keep the oil contained .   At the heart of the dispute is anxiety about what is […]
Gulf Oil Spill Threatened By Possible Tropical System This Weekend
thestatedtruth.com | July 19, 2010
   July 19, 2010    .     By Carly Porter               AccuWeather.com Staff Writer    . A well-developed tropical wave currently bringing strong winds and rough seas north of Puerto Rico could develop into a tropical system by the weekend. According to AccuWeather.com hurricane meteorologist Dan Kottlowski, there is high potential for this tropical wave to evolve […]
Matt Simmons Interview On Gulf Of Mexico Disaster
thestatedtruth.com | July 18, 2010
Must listen interview of Matt Simmons. Absolutely a must listen interview. He is not sure a trillion dollars will be enough to clean up the Gulf!   Simmons thinks British Petroleum is a dead company walking. http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/7/17_Matt_Simmons.html
Update And Generally Good News Out Of The Gulf Of Mexico
thestatedtruth.com | July 17, 2010
Generally very good news out of the Gulf of Mexico….Bloomberg says the well is capped successfully,     AP says looking much better, but still puzzling readings from busted well. BP Says Cracks in Well Head Still Possible As Cap Test Goes On But Are Encouraged.    Bloomberg        07-17-2010  BP Plc said tests on its Macondo well show no […]
Matt Simmons Latest Interview About British Petroleum’s Gulf Well
thestatedtruth.com | July 15, 2010
Interesting comments from Matt Simmons…..must hear interview from msnbc today Thursday,  July 15, 2010…….so what’s really going on in the Gulf of Mexico?   Matthew Simmons, founder and chairman emeritus of Simmons & Company International, is a prominent oil-industry insider and one of the world’s leading experts on the topic of peak oil. Simmons was […]
So Far, So Good For British Petroleum In The Gulf
thestatedtruth.com | July 15, 2010
From→ Washington’s Blog       7-15-2010 BP has succeeded in capping the well and stopping oil from flowing into the Gulf of Mexico … at least temporarily. The official Deepwater Horizon Response Twitter feed noted as of a couple of minutes ago: Update:        NO OIL FLOWING INTO THE GULF  As of this writing, Skandi ROV 2’s […]
Well Integrity Test Has Now Started, But Oil Industry Experts Ask “What the Hell Are They Doing?”
thestatedtruth.com | July 14, 2010
So who does one believe in this situation……. Submitted by George Washington on 07/14/2010  Admiral Thad Allen just announced that the well integrity test has gotten a green light.  The test has already started. As I noted yesterday, BP suspended the “top kill” operation for 16 hours – because, according to numerous experts, it […]
British Petroleum Cap Going Well….No Pun Intended
thestatedtruth.com | July 13, 2010
By Jim Polson and Jessica Resnick-Ault Jul 13, 2010 BP Plc plans to start testing today on a new cap over its leaking Gulf of Mexico well to determine whether it can stop the largest U.S. oil spill in history while continuing work on a permanent plug. Starting about noon local time, a 40-foot (12-meter) […]
British Petroleum Takes A Big Chance
thestatedtruth.com | July 10, 2010
BP removes old cap; oil runs free as new cap is prepared…….Let’s hope this works.  With British Petroleums record, we wouldn’t want to be in their shoes. Engineers began work Saturday on installing a new, tighter-fitting containment cap for the Gulf spill. They removed the old cap, which temporarily means oil is gushing out unabated. […]
IMPACT: Gulf Awash In 27, 000 Abandoned Oil And Gas Wells
thestatedtruth.com | July 7, 2010
Wednesday  Jul. 07, 2010 By JEFF DONN and MITCH WEISS – Associated Press Writers Leading environmental groups and a U.S. senator on Wednesday called on the government to pay closer attention to more than 27,000 abandoned oil and gas wells in the Gulf of Mexico and take action to keep them from leaking even more […]
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