Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

US Gas Prices Will Hit $5/gallon This Year

by joel3000 Sun Sep 4th, 2005 at 03:15:54 AM EST

It's coming, expect $5/gallon gasoline in California and other places far away from Katrina's direct impact. How come?
First of all we've lost at least 10% of American oil refining
capabilities. Even if the release of the SPR covers the lost
domestic oil, there is no extra refinery capacity.

In other words, there may be enough oil but there sure
won't be enough gasoline.

Read more... (15 comments, 268 words in story)

About the U.S. Strategic Petroleum Reserve

by joel3000 Wed Aug 31st, 2005 at 03:23:24 PM EST

With the Katrina disaster shutting down a good share of gulf coast
oil operations the Strategic Petroleum Reserve is back in
the news again as President Bush decides whether or not to open it. (note: he opened it today)
Here is some more info on the SPR:

  • Current storage capacity: 727 million barrels
  • Maximum drawdown capacity: 4.4 million bpd
  • Days of import protection: 59
  • Time for oil to enter market after presidential order: 13 days
  • Average price paid per barrel: 27.25

Read more... (276 words in story)

Know Any Good Investments For Small Investors?

by joel3000 Sun Aug 21st, 2005 at 06:00:45 PM EST

I have a relatively small sum (4 figures) in a brokerage account that is just sitting there. I'm looking for something to do with it that will provide some inflation protection without too much risk.

I used to have it in European ETFs, IEV and VGK,
any other ideas?

Comments >> (1 comment)

Unrest in Ecuador - Chavez Connection

by joel3000 Sat Aug 20th, 2005 at 06:37:26 PM EST

Ecuador is in a state of unrest. According to this article , the government
has broken down...

Lucio Gutierrez was kicked out of office for trying to pull a chavista 'revolution' out of the hat. Since then Ecuador has been in a constant state of semi-chaos. Alfredo Palacio is meant to be the president of that country, however his orders are not followed through. His ministers are forging deals behind his back without consulting with him. Furthermore he is surrounded by elements that are only too keen to embrace Hugo Chavez, read Rafael Correa and Antonio Parra Gil.

Remember the domino theory, looks like Chavez does too. The
difference here is that the Vietnamese themselves were not out
to spread revolution. Chavez is taking advantage of his oil power
and the financial and military over-extension of the USA to  spread
his Chavista revolution, challenging the Monroe Doctrine .


In the meanwhile Lucio Gutierrez is in Peru trying to buy his way back to Ecuador's presidency. The outlaw's minions have presented a plea to have a court void the Congress' resolution that ousted him. Taking into consideration that Ecuador lacks both Supreme Court and Constitutional Tribunal a judge of first instance will rule on the matter.


Then there's the strike in the Amazonian states Sucumbíos and Orellana that has Gutierrez' imprints all over the place. Mind you sheer happenstance makes that some prefects start demanding the oil companies to have 200KM of road paved; to hire local workers; to develop social programmes; to pay them, the prefects, 25% of taxes... Where have I heard this script before? According to military intelligence Gutierristas are behind the unrest. Oil production has been halted, but lossing millions is not something that has, ever, preoccupied revolutionary minds.

Although the article has an obvious bias, the news is still
clear, it can only be that the Bush Administration has too
many pots boiling to pay Ecuador serious attention.  If not
for Iraq and the associated stories Ecuador and Chavez
would be all over the American news.


cross posted from etrans.blogspot.com

Comments >> (1 comment)

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