Cal seeing $6/gal. to $7/gal. gasoline
soon if we see oil move on up
to near $100/bbl looking probable...
Oil price rise has been aided by
EIA data that fuel demand has been
above year ago levels in 1st quarter...
Everyone knows that natural gas demand
has been down due to warmer weather...
My own weekly watch on gasoline demand
versus the year ago level has been
seeing lower demand...
But there has been spin info put out
that says EIA data shows a year over
year increase in fuel demand...
Oil future traders have been going with
the spin data out there...
Which means that increasing momo in
oil price could see it spike at anytime
due to the betting positioning now...
Nevermore quoth the Raven will there
be any interest rates dropping this year
if oil prices hold these levels or spike...
Take the over on Cal gas prices until the
oil price rise momo drops...
VTLE hedges on over 50,000 bbls/day
of oil production moves up to about
$74+/bbl. in 2nd quarter and above
the $73+/bbl. hedges in 2nd quarter...
They missed the boat on the price
pump up on oil this go round, Imo...
So we watch..LJ
Gee Beav, rithmatic isn't usually this hard to read!
Gee Beav, rithmatic isn't usually this hard to read! 
