Another Day, Another Massive CNBC Lie (About Gasoline Inventories)

Discussion in 'Trading' started by ByLoSellHi, May 11, 2007.

  1. Here is the link, and just an excerpt:

    Options Trader: Friday Morning Ideas

    Posted on May 11th, 2007

    Phil Davis submits:

    "Eni S.p.A. (E) posted a 13% decline in profit as oil prices fell. Gasoline demand dropped even though the shadow cartel member cut production 5% for the quarter. "Lower European gas demand pulled worldwide gas sales down 10%" and you will see Criminal Narrators Boosting Crude (CNBC) scrambling today to tell you ANYTHING other than that truth. The IEA is doing its best to stir the pot by coming out with a drop stopping report that claims we will have a tight summer due to demand. "You’re going to end up with a tightening of the product market in June. By July you’ll have a potential for a 2.5 million barrels-a-day increase in refinery throughputs," said the report’s editor Lawrence Eagles. "You need to have supplies increasing by that amount but we’re not seeing it in shipping data" and elsewhere."

    Here is data and a link he cites:}&siteid=yhoo&dist=yhoo

    "Eni profit down 13% on oil price fall, gas demand drop
    By Steve Goldstein
    Last Update: 2:37 AM ET May 11, 2007

    LONDON (MarketWatch) -- Italian oil producer Enireported a 13% profit decline to 2.59 billion euros ($3.51 billion), hurt by weaker oil prices, euro strength and low seasonal gas and product sales due to unusually mild weather. Production dropped 5% to 1.83 million barrels of oil equivalent a day, on the loss of production in Venezuela due to nationalization, unrest in Nigeria, and lower European gas demand pulled worldwide gas sales down 10%. For the year, production of oil and natural gas is seen averaging 1.77 million barrels of oil a day, sales volumes of natural gas are seen rising 1%, electricity volumes shoudl slightly rise, refining throughput will slightly fall and retail sales should slightly rise."