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Energy at top? Does ANYONE believe this?


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#11 Sentient Being

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Posted 28 August 2005 - 04:03 PM

Well, for those who watch the news, here's another piece of the puzzle. ================================= Katrina Targeting U.S. Oil Operations By JUSTIN BACHMAN, AP Business Writer 38 minutes ago NEW YORK - With crude oil prices already at record levels, a hurricane targeted the heart of America's oil and refinery operations Sunday, shutting down an estimated 1 million barrels of daily production and threatening to curtail refining activity in the region.
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#12 PorkLoin

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Posted 28 August 2005 - 07:54 PM

Bloomberg has oil up $3.60 (it was over $70 earlier in the day) and.... :D :lol: Natural Gas is up 20% from Friday's close! :lol: :D Doug

#13 PorkLoin

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Posted 29 August 2005 - 11:29 AM

It sure wasn't much of a move higher. Nothing got to my targets and I punched out of all oil stocks. Time to be more of a trader than an investor IMO. Doug

Edited by PorkLoin, 29 August 2005 - 11:31 AM.


#14 mss

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Posted 29 August 2005 - 11:46 AM

:) When they find out the real damage is when stocks will move one way or another. Drillers, equipment, etc will be the ones to watch. Had an interesting conversation with a electric power co. exc. Sunday, not TVA, large co tho. They are, on the QT, ramping up their nuclear capacity. Has nothing to do with the storm, but is related to oil & gas supply. :cat:
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#15 PorkLoin

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Posted 29 August 2005 - 01:22 PM

Had an interesting conversation with a electric power co. exc. Sunday, not TVA, large co tho. They are, on the QT, ramping up their nuclear capacity. Has nothing to do with the storm, but is related to oil & gas supply.



MSS, I hear you on the supply issue, especially with gas. How are they ramping up capacity, though? Surely that is only within existing plants, no?

My uncle is an engineering geologist from Florida, and a couple months ago he talked to a VP with Duke Energy. The word was that it costs about a billion Dollars just to go through the pemitting process to build a new nuclear generation plant, and after that expenditure there is no guarantee of getting approval. Even with approval, there are quite a few years and a ton more money to build.

I wonder if there will be an easing of the process given the high costs of other energy sources.

Speaking of TVA, I've worked on electrical transformers for 20 years, and in 1996 was at the Watts Bar nuke plant for a couple months, right before they fired up Unit 1. Man on man, you talk about security! And that was pre - 9/11.

In 1988, TVA suspended construction on Watts Bar Unit 2 because less future demand growth was suspected for electricity. Sheesh! I checked TVA's website and no mention was made of trying to finish and run Unit 2.

Doug

#16 mss

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Posted 29 August 2005 - 01:43 PM

MSS, I hear you on the supply issue, especially with gas.  How are they ramping up capacity, though?  Surely that is only within existing plants, no?


    Sheesh!  I checked TVA's website and no mention was made of trying to finish and run Unit 2.

Doug

<{POST_SNAPBACK}>

There are several utility co., Duke, Southern, Florida Power & light etc. that have nuclear capicity already in, but sitting idle as Watts bar (was). One is cleaning them and doing some allowed upgradeing etc. in a very big way.

Watts bar is a interesting place, has had a lot of attention lately.
:cat:
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#17 PorkLoin

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Posted 29 August 2005 - 08:50 PM

MSS:  Watts bar is a interesting place


Ha! I heard every bit of that. Last time I was there it was the hottest time of the year ~ 106 degrees Fahrenheit. A few electrical centers and control rooms are air-conditioned, and they were mighty popular places. An old boy who was pretty high up in the hierarchy took me around and inside the unfinished Unit 2. Man oh man, it's like a science fiction cathedral -- awesome, awesome.

Doug