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Seaway pipeline's good news / bad news

GasBuddy Blog -- Oil infrastructure improvements that enable cost-effective and timely product delivery are supposed to be applauded. But in this case we may hear the sound of one hand clapping.

When NYMEX crude oil surpassed $96 per barrel Thursday, it reached the highest level in four months as service began on the expanded Seaway pipeline, and, heating oil also jumped.

Oil futures increased after Seaway resumed service to the Gulf Coast from Cushing, Oklahoma, on Jan. 11. Bloomberg says the Seaway Pipeline's increased capacity of 400,000 barrels a day may help ease a glut at Cushing that has held down prices of West Texas Intermediate crude.

The 500-mile (805-kilometer) Seaway pipeline resumed full service after shutting...


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Submitted Jan 25, 2013 By: PD
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REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Jan 30, 2013 3:48:43 AM

jethro: it's called Pig Oil logic lol.
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bston
Champion Author Oklahoma City

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Message Posted: Jan 26, 2013 12:22:15 PM

Prices are on their way up again, & sharply up.
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jethro5000
Champion Author Kentucky

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Message Posted: Jan 26, 2013 10:39:03 AM

So, capacity increased and the futures price increased? Something sounds wrong with that...
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isem
Champion Author Missouri

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Message Posted: Jan 26, 2013 4:15:45 AM

Old news.
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Hunter724
Champion Author New Hampshire

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Message Posted: Jan 26, 2013 4:09:23 AM

Gas went up 4 to 10 cents a gallon yesterday..
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ManOfLeisureII
Champion Author Philadelphia

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Message Posted: Jan 26, 2013 4:08:01 AM

Good luck raising the money without those nasty investors who, gasp, expect to make a, oh my, profit....let us know when you start working for free.
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WR-INC
Champion Author Twin Cities

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Message Posted: Jan 26, 2013 4:03:01 AM

LeeFree is correct. Such investors cost all of us, reap rewards upon themselves, and contribute nothing of value to the system. Sort of like lawyers and politicians.
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alphanyr
Champion Author Connecticut

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Message Posted: Jan 26, 2013 4:00:47 AM

Ok
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ILVET
Champion Author Illinois

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Message Posted: Jan 26, 2013 3:58:52 AM

Gas jumped a dime here yesterday
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jcdakota
Champion Author Baltimore

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Message Posted: Jan 26, 2013 3:56:41 AM

The consumers pay every time big oil can find something to tie a price on!!!
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LeeFree
Champion Author Pittsburgh

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Message Posted: Jan 26, 2013 3:56:29 AM

It's become clear that no matter how much suppply there is and how readily available it is for refining, oil prices are going to remain high. We are at the mercy of greedy Wall Street investors. Repeal the laws that allow this and force investors to take delivery if they hold a futures contract. Then it will go back to fair market pricing.
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swede
Champion Author Cleveland

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Message Posted: Jan 26, 2013 3:56:13 AM

We just need to improve our pipeline delivery system around the country.
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FBI2991
Champion Author Michigan

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Message Posted: Jan 26, 2013 3:56:10 AM

Old news
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tomok
Champion Author Portland

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Message Posted: Jan 26, 2013 3:50:30 AM

Seaway pipeline's good news / bad news? Improving the pipeline flow to relieve the oil glut at Chushing should be 'A Good Thing' BUT do not increase fuel prices at the pump because of it!
Or are fuel prices going up at the pump anyway, no matter what else happens?
Vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII! - The Day After......
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jobo74
Champion Author Ontario

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Message Posted: Jan 26, 2013 3:48:06 AM

brutal
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fillerupyeoww
Champion Author Columbus

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Message Posted: Jan 26, 2013 3:47:46 AM

Economics 101
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Bruno44
Champion Author Texas

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Message Posted: Jan 26, 2013 3:44:37 AM

Speculation and flatulation combined.
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Beau2140
Champion Author New York

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Message Posted: Jan 26, 2013 3:43:59 AM

Higher prices have started.
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AvantiMick
Champion Author Indiana

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Message Posted: Jan 26, 2013 3:40:19 AM

Oh hell yes, let's not keep prices down when we can screw the American consumer!! We should not be paying the same prices for US oil that Middle East oil costs.
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gravityhurts
Champion Author North Carolina

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Message Posted: Jan 26, 2013 3:39:33 AM

Old story
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bart_reed
Champion Author Los Angeles

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Message Posted: Jan 26, 2013 3:38:28 AM

Good for exports.
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bassakwards007
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Message Posted: Jan 26, 2013 3:37:33 AM

Higher prices no doubt
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billy44bo
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Message Posted: Jan 26, 2013 3:30:34 AM

Greed runs the oil market
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SilliesRock
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Message Posted: Jan 26, 2013 3:29:42 AM

The bad news is...Obama is president.
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pfone1847
Champion Author Illinois

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Message Posted: Jan 26, 2013 3:21:31 AM

Sounds like we are going to pay more no matter what.
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no_monkey2002
Champion Author Tallahassee

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Message Posted: Jan 26, 2013 3:20:05 AM

they must use Virgra
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comprof
Champion Author Houston

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Message Posted: Jan 26, 2013 3:18:57 AM

Up and up!
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Z06KY
Champion Author Louisville

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Message Posted: Jan 26, 2013 3:15:30 AM

And the prices will climb today.
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rwrMO
Champion Author Missouri

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Message Posted: Jan 26, 2013 3:13:25 AM

Ok
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Foxt
Champion Author Minnesota

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Message Posted: Jan 26, 2013 3:13:20 AM

Price never seems to effect such things now does it?
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SteveMartin
Champion Author New Orleans

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Message Posted: Jan 26, 2013 3:07:12 AM

Higher oil prices.
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pepinoNC
Champion Author Raleigh

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Message Posted: Jan 26, 2013 3:03:21 AM

mrjames1818: Tax all oil and gas exports - put some of the money big oil is making back in the pockets of the citizens

That basically amounts to socializing the oil industry.
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wcp3rd
All-Star Author New Jersey

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Message Posted: Jan 26, 2013 3:02:16 AM

ok
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sleuth696
Champion Author Nashville

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Message Posted: Jan 26, 2013 2:57:04 AM

Gas prices...any excuse to keep raising them.
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mrjames1818
Champion Author New Jersey

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Message Posted: Jan 26, 2013 2:54:29 AM

Tax all oil and gas exports - put some of the money big oil is making back in the pockets of the citizens
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quasar502
Champion Author Lansing

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Message Posted: Jan 26, 2013 2:50:11 AM

Going up. What a racket.
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wingryder92
Champion Author British Columbia

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Message Posted: Jan 26, 2013 2:50:05 AM

Now oil prices will climb again as our price is too much lower than the rest of the world.
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twobroke61
Champion Author Michigan

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Message Posted: Jan 26, 2013 2:49:24 AM

it is all about the money who are they kidding
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hybridaholic
Champion Author Appleton

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Message Posted: Jan 26, 2013 2:44:49 AM

And the price keeps going up.
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mohammed10
Champion Author Gainesville

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Message Posted: Jan 26, 2013 2:40:14 AM

Should we be surprised???
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PetroScopper
Champion Author Houston

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Message Posted: Jan 26, 2013 2:38:50 AM

I guess that just goes to show that adding more pipelines is the answer for big oil but not so much for the consumer.
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animal63
All-Star Author Indiana

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Message Posted: Jan 26, 2013 2:37:59 AM

The price of gas is still high there.
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fratt
Champion Author Grand Rapids

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Message Posted: Jan 26, 2013 2:37:54 AM

Good news.
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WEB0153
Champion Author Maryland

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Message Posted: Jan 26, 2013 2:33:44 AM

GOOD NEWS!
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prorodeo2012
All-Star Author Bakersfield

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Message Posted: Jan 26, 2013 2:30:29 AM

bs but good
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silverfox63
Champion Author Michigan

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Message Posted: Jan 26, 2013 2:27:31 AM

It is nothing more then a bunch of bull. Profits trumps everything.
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SBlouch
Champion Author San Antonio

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Message Posted: Jan 26, 2013 2:24:13 AM

It is ALL about the money and we all know it.
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sjhman
Veteran Author Atlanta

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Message Posted: Jan 26, 2013 2:20:37 AM

Profits indeed
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mystic92
Champion Author New Jersey

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Message Posted: Jan 26, 2013 1:59:09 AM

its all about profit and not about consumers
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SkooterG
Champion Author Phoenix

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Message Posted: Jan 26, 2013 1:58:35 AM

Everybody wants the Keystone pipeline approved because why? They think it is going to help what?

I'll tell you what it will help. It will help Keystone make a LOT of money exporting their oil to other parts of the world.
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