Look at the headline and first paragraph:
US demand pushes oil still higher
The US thirst for gasoline has helped push the oil market further into uncharted territory, as US prices soar above $66 a barrel.
Pretty strong language, eh? Want more? Ok.
Worldwide petrol and gasoline prices are at unprecedented levels.
The world is coming to an end and it's America's fault.
Want proof? Ok.
US refinery stoppages have come just as car sales and demand hit highs, and security fears are persisting as well.
See? It's the evil Americans who are "stopping" their refineries and demanding more petrol that is pushing up prices.
The latest surge has been partly triggered by more than a dozen breakdowns at US installations, the latest of which hit a ConocoPhillips refinery in Illinois.
That breakdown was on Thursday and for some strange reason the BBC fail to mention the stoppage on Wendsday - at a BP refinery.
And from the CNN article we learn:
"Refining problems are behind the higher prices today, which have pushed Gulf Coast cash prices extremely high" said Tom Knight, trader at Texarcana, Texas.-based Truman Arnold, a petroleum products marketer.
BP shut several units at its Texas City, Texas, 460,000 barrel-per-day (bpd) refinery on Wednesday until they can be inspected, a source familiar with the plant's operation said.
Buried at the bottom of this BBC hit piece on the US is this tidbit.
Thursday brought a report from a Paris think tank, the International Energy Agency, which warned that producers outside the 11-member oil cartel Opec were likely to reduce output.
Why is that? Well the BBC certainly won't tell you as it would ruin their hit piece. CNN tells us this:
Production snags in the North Sea and U.S. Gulf caused the drop to almost half of the 1.1 million bpd of non-OPEC oil that was added to markets last year.
You see, Britain has its own oil production problems. But, hey, it's all America's fault becasue of their "thirst for gasoline ". Somehow CNN doesn't see it that way.
U.S. gasoline stocks dropped by 2.1 million barrels to 203.1 million barrels last week, 7.9 million barrels less than last year, even as demand slipped and production and imports increased. In the six weeks that stocks have dropped, gasoline inventories have been slashed more than 13 million barrels.
Ah, the good old reliable BBC - bash America every chance they get.
-------------------------------------------------------------------------------------
No comments:
Post a Comment