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Goldman Sachs tips oil to hit $130 in 12 months - Source Associated Press - September 15,2011

Goldman Sachs tips oil to hit $130 in 12 months SINGAPORE — Oil prices will likely rise to about $130 a barrel in the next 12 months as demand in emerging markets such as China and India make up for weak developed world growth, Goldman Sachs said Thursday. Despite concerns about the US economy and eurozone sovereign debt, which have hit crude prices due to an expected fall in demand, the Wall Street giant forecast commodity prices to remain buoyant. At the same time it tipped gold -- a safe haven in times of economic uncertainty -- to cost $1,860 an ounce in a year, much lower than the record high of $1,921.15 it hit last month. The large emerging economies of the BRICS -- Brazil, Russia, India, China and South Africa -- are forecast to grow 7.7 percent this year and 7.9 percent in 2012. By contrast, advanced economies are projected to expand only 1.7 percent this year and 2.1 percent next year, Goldman Sachs said. Brent crude, which is traded in London, is expected to hit $130 a barrel in the next year, from current levels around $112, the bank said. West Texas Intermediate (WTI) light sweet crude oil, traded on the New York Mercantile Exchange, is forecast to reach $126.50 a barrel over the same period from current $88. Both contracts touched all-time highs of above $147 a barrel in July 2008 before the onset of a global financial crisis. "Clearly, there is very little growth anticipated to come from the US, EU and the developed markets," said Allison Nathan, senior commodities economist at Goldman Sachs. "But we expect quite robust emerging market demand growth with China still anticipated to grow at 9.2 percent next year and overall the BRICS countries close to eight percent," she told reporters in Singapore. Nathan said the spread between WTI crude and Brent should narrow in the future but it was still unclear when the gap will close. The high inventory level at the US oil hub in Cushing, Oklahoma, has led to WTI trading at a significant discount compared with other light sweet crudes such as Brent, Goldman Sachs said. It added that transportation pipelines must be upgraded to improve delivery. "While we expect that alternative transportation capacity such as rail, truck and barge shipments will expand rapidly over the coming months, we believe that WTI will remain volatile and prone to dislocations in the future until the pipeline infrastructure is improved," it said. For gold, the US bank said an environment of low interest rates and central bank buying will support prices for the precious metal. Low interest rates drive investors to buy gold for higher returns, boosting prices. Prices for industrial metals such as aluminum, copper and nickel are also expected to rise, with Chinese demand a key driver. "China is the single largest consumer of almost all commodities," said Julian Zhu, the China commodities analyst at Goldman Sachs. "China is good at oversupplying so whichever commodity China is short of will likely have the strongest demand and pricing. Therefore, copper is our preferred metal," he said. Last year, China's share of the total global consumption for steel was 45 percent, 76 percent for iron ore, 41 percent for aluminum and 39 percent for copper, according to the US bank. "China's per capita copper consumption is far below that of developed countries with high-end manufacturing industries. This suggests substantial upside for China's demand for copper," added Zhu. China consumed 5.4 kilograms of copper per person in 2010, compared with 7.2 kilograms in the OECD countries, he said. Copyright © 2011 AFP. All rights reserved.

Energy & Oil Prices - Source Bloomberg -September 15,2011

Energy & Oil Prices OIL ($/bbl) PRICE* CHANGE % CHANGE TIME Nymex Crude Future 89.95 1.04 1.17% 10:17 Dated Brent Spot 114.79 3.25 2.91% 10:28 WTI Cushing Spot 89.65 0.74 0.83% 09:18 OIL (¢/gal) PRICE* CHANGE % CHANGE TIME Nymex Heating Oil Future 302.45 7.95 2.70% 10:17 Nymex RBOB Gasoline Future 278.69 6.11 2.24% 10:17 NATURAL GAS ($/MMBtu) PRICE* CHANGE % CHANGE TIME Nymex Henry Hub Future 4.01 -0.03 -0.79% 10:16 Henry Hub Spot 4.01 0.08 2.04% 09/14 New York City Gate Spot 4.28 0.02 0.47% 09/14 ELECTRICITY ($/megawatt hour) PRICE* CHANGE % CHANGE TIME Mid-Columbia, firm on-peak, spot 30.45 0.35 1.16% 09/14 Palo Verde, firm on-peak, spot 38.73 0.85 2.24% 09/14 BLOOMBERG, FIRM ON-PEAK, DAY AHEAD SPOT/ERCOT HOUSTON 53.94 -6.19 -10.29% 09/14 *Commodity futures and energy prices are in U.S. dollars.

European, Asian Markets Tumble on Greek Default Fears - Source VOA News - September 15,2011

European, Asian Markets Tumble on Greek Default Fears Jim Randle | Washington Traders watch their screens at the stock market in Frankfurt, Germany, Monday, Sept.12, 2011, when the German stock index DAX went down under 5000 points. Stock prices plunged on many global markets Monday as investors worried that Greece might not be able to repay the loans used to rescue its troubled economy. While Greece is not a particularly large economy, it has borrowed such large sums that a default might send a wave of damage through banks in many other nations. The turmoil on world markets grows out of fear that Greece might be unable to pay back some large loans, and those worries grew after a German official said a default could not be ruled out. Foreign banks that have made billions of dollars worth of loans to Greece could be badly hurt by a default, and many of those banks are in France. French bank and government officials tried to reassure markets that they have sufficient money to cover any expected losses. But investors are apparently still worried that a Greek default might hurt French banks so badly that the French institutions would struggle to repay loans they hold from banks around the world, including the United States. A report that a key rating agency might downgrade some French banks further heightened the concerns. One economic expert, New York University Professor Neil Barofsky, says the markets may be in turmoil for a while. "You will continue to see this real crisis of confidence, continued concern. In a way it is a little bit like 2008, nobody is sure exactly what is going to happen if these dominoes start to fall. And I think it is kind of a scary place right now," Barofsky said. Barofsky spoke on the Bloomberg financial news service. Greece, Germany, France and 14 other nations share the euro currency, and that ties their economies, strengths and problems all together. That is one reason Greek problems are raising concern about the financial soundness of the eurozone's third and fourth-largest economies, Italy and Spain. The head of the European Central Bank, Jean-Claude Trichet, urged Greece to meet its obligations and ease the crisis. He also tried to reassure investors that the global economy is not headed back into recession. "We do not see a recession, in the cards, not at all. But we see a slowing down in comparison with what had been observed in the recent period," Trichet said. Trichet spoke Monday, after meeting with central bankers from around the world. He said central banks are ready to take further actions to bolster the economy. Watch a related report by Mil Arcega

Merkel: Europe Must Avoid 'Uncontrolled' Greek Default - Source VOA News - September 15,2011

Merkel: Europe Must Avoid 'Uncontrolled' Greek Default German Chancellor Angela Merkel in Berlin, Germany, Tuesday, Sept. 13, 2011 German Chancellor Angela Merkel says the 17-nation bloc that uses the euro currency must do everything it can to avoid an "uncontrolled insolvency" by Greece. The German leader said Tuesday that the effects would be far-reaching if Athens defaults on payments for its international bailout loans. She said the danger is "very big" that with a Greek default, other eurozone countries "would quickly face a domino effect." While Greece has struggled to implement its plan to trim deficit spending in the face of a growing recession, Italy and Spain are also seeking to cut their debts to avoid the need for bailouts. Italy said its finance minister, Giulio Tremonti, met last week with Chinese officials about the possibility of China buying Italian government bonds, a move aimed at cutting Rome's rising borrowing costs. On Tuesday, there was limited demand at an auction for nearly $9 billion worth of Italian bonds, and the government was forced to pay a higher interest rate than at a similar sale two months ago. Merkel's comments seemed to rebuke her economy minister, Philipp Roesler, who said in a newspaper column Monday that the eurozone could no longer dismiss the possibility of an "orderly default" by Greece. The German chancellor said that everyone "should very carefully weigh their words" to avoid further turmoil in world financial markets worried about a Greek default. She said that "if the euro fails, Europe fails." U.S. President Barack Obama, in an interview with Spanish journalists, said the big European countries and the continent's leaders have to better coordinate their fiscal affairs. He said eurozone leaders must take responsibility for the debt crisis. The Greek government's austerity efforts have proved unpopular at home, even as European leaders urge Athens to implement them as quickly as possible. Workers in a variety of trades and professions have staged work stoppages in protest, and homeowners are upset that the government announced a new property tax over the weekend, on top of a higher sales tax on restaurants just 10 days earlier. Prime Minister George Papandreou has been trying to lobby Parliament to approve the new measures. He says that "Together we must silence those who doubt us." French President Nicolas Sarkozy and Merkel are planning to discuss the debt crisis with Papandreou in a telephone conference on Wednesday. Some information for this report was provided by AP, AFP and Reuters.

Whither The Direction Of Natural Gas Markets - Source Oil Patch.net-December 15,2011

Whither The Direction Of Natural Gas Markets by G. Allen Brooks Parks Paton Hoepfl & Brown September 14, 2011 Natural gas prices continue, as they have for the past three months, to fluctuate around $4 per thousand cubic feet (Mcf). Futures prices show more hope with a February 2012 price of $4.35 and October 2012 (a year from now) of $4.48. The market expects further improvement with October 2013 and 2014 prices of $4.92 and $5.25, respectively. This outlook is in contrast to the latest Short-term Outlook published by the EIA that says gas prices will average $4.20 per Mcf in 2011, down $0.18 from 2010’s average. The EIA forecasts the Henry Hub average price for 2012 of only $4.30, which is certainly conservative compared to the commodity markets’ view. The divergence in the outlook for gas prices probably reflects different views of economic activity. The EIA says it is now using GDP growth expectations for 2011 and 2012 of 1.5% and 1.9%, respectively, compared to the previous estimates of 2.4% and 2.6%. The new GDP assumptions suggest industrial demand for natural gas may be weaker than what others expect. Since gas demand in the electricity sector should continue to grow as almost all new power generating capacity built has been based on gas. Electricity demand, however, remains both seasonal and dynamic. Greater energy conservation continues to slow electricity’s growth along with a slowing economy. One reason the EIA maintains its somber view of natural gas prices through the balance of this year and in 2012 is because it expects gas storage to grow and approach last year’s highest end-of-injection season volume. A high storage volume, absent a very cold winter, will keep gas prices from rising materially in response to greater natural gas demand. At the end of the day, while industrial demand remains a key to future gas prices, the issue of gas supply may be the more important dynamic at the moment. The latest gas production data suggests that the surge in supply coming from the high level of drilling in gas shale formations and the hooking up of previously drilled-but-uncompleted wells continues, especially for onshore gas. The slight dip in production early in 2011 reflects the impact of the freeze-offs that occurred during the extremely cold weather in February. However, based on the EIA’s Form 914 survey of operators’ monthly gas production, we are troubled by the recent trend in revisions compared to initial estimates. If we look at Lower 48 land production, the chart in Exhibit 8 shows the initial and revised monthly estimates. During much of 2009-2010, revisions were below initial estimates, but starting last fall the pattern reversed. This trend suggests caution should be used about interpreting initial estimates in future months. The greatest challenge for the natural gas industry is to know how much gas is being added by drilling. In 2011, there has been a significant shift in the focus of drilling due to strong crude oil and weak natural gas prices. At the end of 2010, according to Baker Hughes’ (BHI-NYSE) rig count, 54.3% of the rigs were targeting gas, or 919 rigs. At the start of September, natural gas was only being targeted by 45.5% of working rigs, or 895, some 24 fewer than nine months before. For crude oil, the industry has added 299 rigs. Overall, the industry has added a net 274 rigs drilling for oil and gas this year. What is often missed by many analysts is that there are still significant volumes of natural gas produced from fields considered primarily oily or having high liquids content. Thus, the shift in drilling does not shut down natural gas additions completely. The primary culprit in the growth of natural gas production has been the relentless rise in the use of rigs drilling horizontal wells targeting gas that are associated with high initial production from shale formation wells. In preparing the chart in Exhibit 9, we used the percentage of total rigs drilling for natural gas and applied that to the number of active horizontal drilling rigs. This is a crude measure of drilling, but it helps eliminate some of the horizontal rigs drilling for crude oil. Based on that measure, from 2005 through nearly the end of 2008, there was a steady parallel rise in the horizontal rig count and gas production. That pattern ended with the financial crisis in late 2008 and resulting 2009 recession. Gas production began rising shortly after the horizontal rig count upturn. So far this year, the horizontal rig count is climbing faster than in 2010. Since the reported gas production data is lagged by two months, we can figure out what the horizontal rig count might suggest for future monthly production. The monthly gas-oriented horizontal rig count has continued climbing even in the face of a declining percentage targeting gas, suggesting gas production will also rise in the near future. But the horizontal gas rig count is now declining, on our measure, telegraphing that gas production should stop rising soon. It also suggests the natural gas market may see an improved supply/demand balance by next summer. That improvement could be delayed because the gas industry is focused on drilling shale formation sweet spots with greater output, plus accelerated completion of previously drilled-but-uncompleted wells, about 3,000. The surge in finishing uncompleted wells will ebb as hydraulic fracturing capacity expands to match the drilling industry’s need. As we look to the future, barring another economic recession, we think natural gas dynamics are beginning to shape up for better gas prices next year. As a result, we are slightly more optimistic about natural gas prices averaging higher than the EIA’s forecast. Many might say we are walking on a tightrope over a chasm with this forecast. But like all good stunt performers, we believe there are plenty of mattresses under us for when we fall. G. Allen Brooks is Managing Director of Houston-based investment banking firm Parks Paton Hoepfl & Brown. This article originally appeared in the September 13, 2011, issue of PPHB's newsletter "Musings from the Oil Patch."

Chevron Phillips Confirms Plans to Suspend PSPC Ops - Source Chevron Phillips - September 15,2011

Chevron Phillips Confirms Plans to Suspend PSPC Ops by Chevron Phillips Chemical Co. LP September 13, 2011 Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) can confirm that an agreement has been reached with Sumika Polymers America Corporation, a wholly owned affiliate of Sumitomo Chemical Company, Ltd., for the permanent shutdown of the polypropylene assets jointly owned by the parties in Phillips Sumika Polypropylene Company (PSPC) and the orderly wind-up of PSPC operations. PSPC has announced that it intends to make the transition as smooth as possible and is working with its customers to assist during this period. All other operations at the Chevron Phillips Chemical Pasadena Plastics Complex are unaffected by the closing of the PSPC polypropylene plant at that facility. "The company remains focused on running our operation safely for our employees and the community in which we operate. We are assessing the impact to employees affected by this closing and will work to redeploy as many as possible in other parts of our organization," said Tim Taylor, chief operating officer for Chevron Phillips Chemical. Chevron Phillips Chemical Company LLC remains committed to the polypropylene business, and its network of marketing affiliates will market polypropylene produced by the Saudi Polymers Company (SPCo) joint venture scheduled to start up during the second half of 2011. SPCo is a limited liability company owned by Arabian Chevron Phillips Petrochemical Company Limited and National Petrochemical Company (Petrochem).

Marcellus firm Laser doesn't want to be a utility anymore, but Peregrine does - Source Pittsburgh Business Times - September 15,2011

Marcellus firm Laser doesn't want to be a utility anymore, but Peregrine does Date: Tuesday, September 13, 2011, 8:21am EDT Anya Litvak Reporter - Pittsburgh Business Times Laser Marcellus Gathering Co., the first Marcellus Shale pipeline company to launch a much-maligned campaign to become a public utility announced its abandoning the effort. This is the explanation: “Laser’s proposed plan and intent has now changed and it: (1) is no longer willing to serve any and all potential customers; (2) will use contracts to select and serve a defined and limited group of customers; and, (3) is no longer committed to expand its facilities to meet demand of the public as would a public utility.” The withdrawal, on Sept. 8, follows a year and a half of vehement opposition from 1. other pipeline operators who worry that granting utility status would also throw them under the authority of the Public Utility Commission, and 2. citizens and group who don’t want the company to have eminent domain authority. Meanwhile, Peregrine Keystone Gas Pipeline LLC, which filed for public utility status for its planned pipeline in Greene, Fayette and Washington counties in the fall of 2010, is the middle of the same hoopla. Peregrine has been fighting off a request by opponents to table its utility application until a decision is reached in the Laser case. Peregrine’s vice president of operations Loren Fuller said Monday the company is still fully committed to its case. “It’s our intent to go forward,” he said, just learning the news about Laser. Peregrine hasn’t begun construction yet for several reasons, Fuller said: coordinating the timing of wells coming online, finalizing the financing, and the pending PUC application. --------------------------------------------------------------------------------

Wholesale prices flat, as inflation pressures ease - Source Associated Press - September 15,2011

Wholesale prices flat, as inflation pressures ease By CHRISTOPHER S. RUGABER AP Economics Writer Posted: 09/14/2011 06:35:22 AM MDT Updated: 09/14/2011 07:15:19 AM MDT WASHINGTON—Companies paid the same amount for wholesale goods last month as a drop in energy prices offset higher food costs. Excluding the volatile food and energy categories, core wholesale prices edged up 0.1 percent, the smallest increase in three months. The figures indicate that inflation pressures are easing. The Producer Price Index, which measures price changes before they reach the consumer, was unchanged in August, the Labor Department said Wednesday, after a 0.2 percent rise in July. In the past 12 months, the index has increased 6.5 percent, mostly due to higher gas and food costs. That's the smallest 12-month rise since March, though much bigger than the annual changes late last year. Core prices rose 2.5 percent in the past 12 months, the same pace as July. "It does seem as though wholesale prices have plateaued," said Gregory Daco, U.S. economist at IHS Global Insight. They are likely to remain at roughly the same level or inch down in future months, he said. The leveling off is good for cash-strapped consumers, Daco said, because it puts less pressure on businesses to raise their prices. That could increase consumers' purchasing power. Food prices rose 1.1 percent in August, the largest increase since February. Egg prices jumped nearly 11 percent, the most since April, while processed chicken prices increased 3.7 percent, the most in five years. That likely reflects the higher cost of corn and other grains that are used for animal feed. Processed fruits and vegetables rose 2 percent, the most since February 1990. The core index was pushed up by a jump in tire prices, which rose 1.4 percent, the most in four months. Wholesale gasoline prices, meanwhile, fell 1 percent in August, and home heating oil dropped 1.2 percent. Sharp increases in the prices of oil, food and other commodities pushed up most measures of inflation earlier this year. But now that many commodities are becoming less expensive, inflation pressures are fading. That's taken some of the pressure off the Federal Reserve to keep inflation in check by raising interest rates. Instead, the central bank can keep the short-term rate it controls at nearly zero, in an effort to support economic growth. Oil prices have fallen in recent months as fears have grown that the economy might shrink. That's contributed to lower gas costs. Gas prices averaged $3.63 a gallon nationwide Wednesday, according to AAA. That's down a peak of nearly $4 in May, though still almost a dollar more expensive than a year ago. Food prices, however, may keep rising. The U.S. Department of Agriculture said Monday that an unusually hot summer damaged much of the nation's corn crop. That could drive up food prices broadly because corn is used in everything from animal feed to cereal to soft drinks. Corn fell about 23 cents to $7.23 a bushel Tuesday. That's down from its peak of $7.99 in June, but nearly twice the price paid in the summer of 2010. ---------------------

Retail sales flat in August, auto demand declined - Source Associatedd Press - September 15,2011

Retail sales flat in August, auto demand declined By MARTIN CRUTSINGER AP Economics Writer Posted: 09/14/2011 06:40:26 AM MDT Updated: 09/14/2011 09:47:55 AM MDT WASHINGTON—Consumers spent less on autos, clothing and furniture to leave retail sales unchanged in August. The lack of growth suggests households became more cautious during wild stock market fluctuations and increased fears about the economy. The Commerce Department also said Wednesday that retail sales were slightly weaker in July than first thought. They rose just 0.3 percent, down from the initial reading of 0.5 percent. Auto sales fell 0.3 percent in August. Sales at clothing stores declined 0.7 percent. Gasoline sales rose. Analysts said Hurricane Irene likely disrupted sales in late August along most of the East Coast. Stocks were trading higher when the market opened but fell later on in morning trading. The Dow Jones industrial average dropped more than 60 points. Consumer spending is important because it accounts for 70 percent of U.S. economic activity. The overall economy expanded at an annual rate of just 0.7 percent in the first six months of this year, the slowest growth since the recession ended two years ago. Employers added no net jobs in August, and the unemployment rate stayed at 9.1 percent. Paul Dales, a senior U.S. economist for Capital Economics, said he expects a small pickup in growth in the July-September quarter, despite the softening in retail sales. "That said, with jobs growth flat the prospect of any further acceleration in the fourth quarter is slim," Dales said. A separate report showed inflation at the wholesale level was not a problem in August. The Labor Department said its Producer Price Index, which measures price changes before they reach the consumer, was unchanged in August after a 0.2 percent rise in July. A drop in energy prices in August offset higher food costs. The flat reading for retail sales was a surprise given private reports from retailers and auto dealers that suggested a brighter picture in August. Major automakers reported healthy sales increases in August, largely because dealers introduced new models and offered cheaper financing. The nation's major retailers reported solid results from the all-important back-to-school shopping. Unlike the industry figures which compare the current month to a year ago, the government's figures compare the current month to the previous month. The government report showed sales at department stores fell 0.3 percent and a broader category of general merchandise stores, which includes big retailers such as Wal-Mart and Target, showed a slight 0.1 percent gain. The 0.7 percent fall in sales at specialty clothing stores followed a 0.3 percent decline in July. High unemployment and a spike in gasoline prices earlier this year had forced many consumers to be more cautious. Consumers are feeling less confident after a rocky summer. Lawmakers fought over raising the federal borrowing limit, Standard & Poor's downgraded long-term U.S. debt, and stocks have fluctuated wildly after plunging in late-July and early August. The Federal Reserve said last month that it expects the economy will stay weak for the next two years. As a result, the Fed said it planned to keep interest rates very low until at least mid-2013, assuming the economy remained weak. Fed officials will meet next week to consider other steps to support to the economy.

This Week In Petroleum - Source EIA - September 11,2011

This Week In Petroleum Released: September 14, 2011 Next Release: September 21, 2011 Key factors affecting the outlook for restoring Libya's oil production As the fighting in Libya begins to wind down and the Transitional National Council (TNC) establishes itself as the internationally recognized government, it is timely to review the many factors that will affect the pace and timing of the restart of the Libyan oil industry. The TNC leadership, which views oil revenues as a means to rebuilding the country, and participants in world oil markets, who continue to grapple with tightness in the global supply of high-quality crude, share a common interest in restoring Libya's oil production and exports. When this will happen is uncertain and depends to a significant extent on the political, military, and security situation that will determine when companies can return to oil fields to repair and/or restart production. It is also worth noting that at the time of writing, only the European Union and United Nations had lifted sanctions on Libya; U.S. sanctions remain in place. Opinions vary across analysts. Some predict a slow and protracted recovery, while others are more optimistic, pointing to TNC statements on its commitment to restarting oil production. Most international oil companies (IOCs) have been cautious regarding their public statements on resuming production. Political and military outcomes will each play an important role in creating conditions that speed or retard production activity. Politically, there must be sufficient legitimacy and legal clarity to allow for financing activity and exchanges of funds. A recognized government with the institutions in place to uphold contracts and manage revenues will be necessary for the IOCs to return. While the TNC has stated that it will respect existing contracts, IOCs seeking to purchase oil from Libya or invest in the country's oil sector must be able to identify their institutional and financial counterparts within the new regime. One question to be addressed is whether oil revenues should be paid to the national oil company, to the oil ministry, or to other parties. Another option might be to allocate funds to an escrow account pending clarification of future arrangements so that operations can resume. IOCs also need to consider that the government and its institutions are likely to continue to evolve over time. Militarily, remnants of the conflict may also continue to present challenges. As of this writing, Gaddafi loyalists are still in control of a few areas of the country and some analysts believe that pockets of resistance will remain even after the fighting has come to an end. Beyond the military conflict, security concerns could delay the return of oil workers and the resumption of production. While the oil industry is not very labor-intensive, a large part of the labor employed in the sector is highly specialized, and, in many cases, comprises expatriates who are likely to have found employment elsewhere. The conflict also scattered the Libyan workforce. It will take time to reassemble the staff, and even then there is a risk that the aftermath of the conflict could affect workforce morale and cohesion as employees face up to their differing roles and loyalties before and during the fighting. Some of the security concerns are directly tied to the oil infrastructure (Figure 1). For instance, Gulf of Sirte, an area that accounts for about two-thirds of Libyan oil production, saw the heaviest fighting and the most damage and is likely to face continuing security concerns. In terms of security, press reports suggest that the oil terminals and surrounding infrastructure of Ras Lanuf and Brega have been booby trapped with explosive devices. The Financial Times cited land mine experts as saying it could take 18 months to clear some of the explosives - an issue that will need to be addressed before the known damage can be fully repaired. Resuming production will bring with it its own security concerns as the infrastructure is a relatively easy target. During the conflict, oil production out of the east was sporadic at times because when production resumed, it became a target for loyalist forces. Figure 1. Libya's Oil Infrastructure Source: Wood Mackenzie And finally, the damage itself. The Libyan oil industry is divided up into nine separate streams, each with its own transport and export infrastructure. Geographically, it can be divided into three sections, Eastern, Central, and Western. The reported status of infrastructure is summarized below; exports by terminal are estimated based on Lloyd's List Intelligence APEX database and other press reports. Most of Libya's oil production is located around the Gulf of Sirte, in the central part of the country, where it was damaged by the fighting. This region has four terminals, Es Sider, Brega, Ras Lanuf, and Zueitina. Es Sider, the largest of the terminals, came under direct attack during the fighting and there were reports of damage to at least its storage tanks, metering equipment, and a feeder pipeline. Prior to the fighting, this terminal exported close to 350,000 bbl/d from the Waha concession, a partnership between the Libyan National Oil Corporation (LNOC) and three U.S. companies: Hess, ConocoPhillips, and Marathon. The terminals of Brega and Ras Lanuf, which combined exported over 300,000 bbl/d in 2010, were severely affected by the fighting. Ras Lanuf is reported to have damage to its power supply and, more significantly, these facilities are believed to have been booby trapped with explosive devices laid in and around the oil infrastructure. The Zueitina terminal on the central eastern part of the Gulf of Sirte accounted for close to 150,000 bbl/d of exports in 2010; this terminal is fed by the Attifel and Zueitina streams and there were reports of explosions near the terminal. The Eastern infrastructure consists of two main fields, Messla and Sarir, oil from which is exported via pipeline to the Tobruk (Hariga) terminal in the east. This stream is entirely under the operation of the Benghazi-based Arab Gulf Oil company (AGOCO), which sided with the rebels early in the conflict and maintained minimal production during the fighting. AGOCO was even able to export two shipments of approximately 500,000 bbl during the conflict, but production and exports did not reach the pre-conflict rate of around 250,000 to 300,000 bbl/d. However, production out of this area made it a target for loyalist forces and there were reports of damage in and around Messla field, including some power infrastructure. Other production that was maintained during the conflict was that from the southwest fields that fed into the Zawiyah refinery where it was processed for domestic consumption in Gaddafi-held areas near Tripoli. Production at the refinery (which has a reported capacity of 120,000 bbl/d) was maintained until it was shut-in in early August as a result of rebel sabotage to the pipeline connecting the refinery. This affected both fuel supplies and electricity generation in the region. Oil production for the Zawiyah export terminal is the Sharara blend that originates in the Murzuq basin. Exports in 2010 were estimated to be close to 200,000 bbl/d while overall production was estimated as high as 320,000 bbl/d. The second western stream is Mellitah, but there is little information available about the current status of the field. Exports in 2010 were estimated to be around 150,000 bbl/d, also coming from the Murzuk basin and including the El-Feel (Elephant) fields. Additional production could come from the offshore Bouri (Eni-operated) and Al Jurf (Total and Wintershall) crude streams if the IOCs return. These fields and floating production storage and offloading units (FPSOs) were not affected by the conflict but were shut in so their status will need to be evaluated. Combined offshore production was about 75,000 bbl/d prior to the conflict. In some cases, there are different degrees of repairs that could be taken into consideration. For instance, some "quick fix" options that would have been preferable during the fighting might not be the best way to move forward when planning for the longer term. For example, metering stations that were damaged can be bypassed if the goal is simply to keep volumes flowing. However, it is in the long-term interest of companies to make permanent repairs to avoid any damage that could be caused by temporary bypass fixes and to track transfer of crude between companies. Finally, any possible timeline for exports will also need to take into account Libya's domestic oil needs. In 2010, Libyan oil consumption was estimated to average 290,000 bbl/d and would be expected to increase in order to meet the country's reconstruction needs. It is likely that any early production will be refined domestically, to the extent possible, or swapped out in exchange for the needed refined products. In summary, political and security issues will remain the most significant factor in returning Libyan crude production. Under stable political and security conditions, the damaged infrastructure can be repaired, some parts faster than others. Retail gasoline and diesel prices decline The U.S. average retail price of regular gasoline decreased this week, losing over a penny to fall to $3.66 per gallon. The average price is $0.94 per gallon higher than last year at this time. Regional changes were mixed with the largest decline occurring in the Midwest as the price fell just under three cents to average $3.68 per gallon. The Gulf Coast price decreased two cents to $3.47 per gallon. The East Coast price declined a penny to an average $3.63 per gallon. Prices rose just over two cents in the Rocky Mountain region and a fraction of a penny on the West Coast to $3.60 per gallon and $3.87 per gallon, respectively. The national average diesel price totaled $3.86 per gallon after decreasing less than a penny. The diesel price is $0.92 per gallon higher than last year at this time. The Midwest and Gulf Coast prices fell a penny to put prices at $3.84 per gallon and $3.79 per gallon, respectively. The East Coast diesel price decreased to $3.88 per gallon. The price in the Rocky Mountains increased a cent to $3.90 per gallon while the West Coast average stayed at $3.98 per gallon. Propane stocks resume build Propane stocks gained 1.2 million barrels last week to bring the total U.S. inventory level to 54.7 million barrels. Although propane stocks have risen for 20 of the last 21 weeks, inventories are 9.0 million barrels (14 percent) lower than last year and are tracking below the average range for this time of year. The largest gain was in the Midwest region with 1.2 million barrels of new propane stocks. Meanwhile, the East Coast and Rocky Mountain/West Coast regions gained 0.2 million barrels and 0.1 million barrels, respectively, which were offset by a draw in the Gulf Coast region of 0.3 million barrels. Propylene non-fuel use inventories represented 5.3 percent of total propane inventories.

It was just a Yellow, Legal sized Notepad - Source "www.powerof positivehabits.com" - September 15,2011

It was just a Yellow, Legal sized Notepad, but it made this millionaire CEO's sales force more productive, less stressed and happier, at work and at home. How could a simple yellow notepad have such power? Here is the story: The millionaire CEO gave each of his employees a yellow, legal sized notepad and a pen. He also gave them these instructions: 1. Carry the notepad and pen with you at all times during your workday. Keep it handy, and within reach. 2. In the morning write down a short "To Do" list in the notepad, list the things you want to accomplish that day. 3. During the day use the notepad to capture every name and phone number of anyone you talk to, write down email addresses, flight times and reservation numbers, meeting times and dates, record virtually every bit of important data into your yellow notepad. Here is how they benefited from this simple positive habit, and how you can also, regardless of who you are, or what you do. (businessmen, housewives, students, CEO's, etc.) 1. When you need to call someone back, their number is always just a glance away. 2. What was that fight number again? What was that policy number the insurance agent gave you 3 days ago? What were the directions to the wedding? It's all in your yellow notepad! 3. It helps you keep track of your "To Do" list action items. Your yellow notepad becomes a Rolodex, Meeting Planner, Map, and one stop source for all of your important information that you gather every day. (Remember how you used to jot down that information on little bits of paper? Remember how you could never find that one piece of paper with the phone number you needed?) You will not believe how many ways this little positive habit will benefit your life! You will be less stressed, more efficient at everything you do, and your friends, relatives and co-workers will always know that you have the important information at your fingertips. Buy a Yellow Legal Notepad today and get started! Here is a great tool to help you turbocharge your Success!

Blog Highlights: A blog is much simpler: A blog is normally a single page of entries. There may be archives of older entries, but the "main page" of a blog is all anyone really cares about. A blog is organized in reverse-chronological order, from most recent entry to least recent. A blog is normally public -- the whole world can see it. The entries in a blog usually come from a single author. The entries in a blog are usually stream-of-consciousness. There is no particular order to them. For example, if I see a good link, I can throw it in my blog. The tools that most bloggers use make it incredibly easy to add entries to a blog any time they feel like it. If you have any comments or suggestions please send to thomaslane123@gmail.com Thank you,

Petchem Prices Up 3% from July, 30% from 2010-Source Downstream/platts - September 14,2011

Petchem Prices Up 3% from July, 30% from 2010 by Platts September 12, 2011 Prices of petrochemicals, a $3 trillion global business, averaged $1,397 per metric ton (/mt) in August, according to just-released data from Platts, a leading global energy and metals information provider. The Platts Global Petrochemical Index (PGPI), a basket of seven widely used petrochemicals, is up 3% from July, reflecting stabilization despite rapidly worsening economic sentiment and big declines in global stock markets. But the August monthly index average is up 30% from this same time a year ago. Platts Global Petrochemical Index (US$/metric ton) Aug. 2011 Aug 2010 % Chg. July 2011 % Chg. June 2011 May 2011 PGPI monthly avg. $1,397 $1,071 +30 $1,352 +3 1,519 1,541 SOURCE: Platts Petrochemicals are used to make plastic, rubber, nylon and other materials for consumer products, packaging, manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry. The PGPI reflects a compilation of daily physical spot market price assessments of ethylene, propylene, benzene, toluene, paraxylene, low-density polyethylene (LDPE) and polypropylene as published by Platts and is weighted by the three regions of Asia, Europe and the United States. It is utilized as a price reference, a gauge of sector activity, and a measure of comparison for determining the profitability of selling crude oil intact or refining it into products. To access a summary for each of the seven key petrochemicals included in the PGPI, http://www.platts.com/newsfeature/2011/pgpi/index. First published by Platts in August 2007, the PGPI peaked at $1,679/mt on July 14, 2008 before plummeting to a low of $491/mt on December 5, 2008, on the heels of the global financial meltdown. Published daily in Platts Petrochemical Alert, a real-time news service, and other Platts publications, the PGPI is anchored by Platts' robust and long-established price assessment methodology and the firm's 100-year history of energy price reporting.

Interviews - Source: Climber.com - September 14,2011

Time and time again, we hire those candidates who have the right skills, a desire to succeed and who remain upbeat about their current situation. You can increase your chances of being hired dramatically by simply maintaining a positive outlook. Think about it, recruiters can hear when you are smiling on a phone interview. Today, practice being positive and see how you can change the world around you. William James, a philosopher and psychologist, once said, "The greatest revolution of our generation is the discovery that human beings, by changing the inner attitudes of their minds, can change the outer aspects of their lives." Create a positive inner attitude and you can change your life and career. Remove those negative things in your life whether they be the newspaper stories (I gave up reading or listening to news for my New Year's resolution) or friends who choose to focus on the negative things.

Refinery Projects - Source Downsteam - September 13,2011

Downstream Projects Yanbu' Export Refinery Project Project Type: Refinery Location: Yanbu' Industrial City Saudi Arabia Owner: Red Sea Refining Co. (Saudi Aramco) Products: ultra-low sulfur refined products, including gasoline (90,000 b/d) and diesel (263,000 b/d); coke (6,300 metric tons per day); sulfur (1,200 mtd) Post project capacity: 400,000 b/d Project cost: $10B

Gasoline Pricing USA - Source EIA - September 13,2011

US Gasoline Prices: US Gasoline Pricing: Date 7/25 8/1 8/8 8/15 8/22 8/29 9/5 9/12 National Price - All Grades Average 3.754 3.766 3.730 3.662 3.638 3.682 3.727 3.715 Conventional Areas 3.720 3.737 3.698 3.629 3.605 3.651 3.692 3.678 RFG Areas 3.824 3.826 3.794 3.727 3.705 3.744 3.800 3.790 National Price - Regular Average 3.699 3.711 3.674 3.604 3.581 3.627 3.674 3.661 Conventional Areas 3.667 3.684 3.646 3.576 3.552 3.601 3.643 3.629 RFG Areas 3.766 3.768 3.733 3.664 3.641 3.683 3.741 3.729 National Price - Midgrade Average 3.819 3.829 3.794 3.728 3.703 3.746 3.791 3.780 Conventional Areas 3.777 3.792 3.753 3.686 3.658 3.703 3.742 3.728 RFG Areas 3.899 3.900 3.872 3.810 3.791 3.828 3.885 3.881 National Price - Premium Average 3.951 3.963 3.927 3.865 3.839 3.874 3.914 3.904 Conventional Areas 3.919 3.937 3.895 3.832 3.804 3.842 3.878 3.866 RFG Areas 4.010 4.013 3.985 3.927 3.904 3.933 3.980 3.974 ++++++++++ All Grades Date 7/25 8/1 8/8 8/15 8/22 8/29 9/5 9/12 ++++++++++ PADD 1 - East Coast Average 3.805 3.818 3.781 3.712 3.671 3.678 3.711 3.705 Conventional Areas 3.776 3.792 3.750 3.676 3.633 3.648 3.690 3.679 RFG Areas 3.853 3.861 3.830 3.771 3.732 3.727 3.745 3.746 PADD 1a - New England Average 3.898 3.903 3.880 3.820 3.796 3.784 3.809 3.809 Conventional Areas 3.818 3.828 3.788 3.714 3.700 3.712 3.756 3.750 RFG Areas 3.918 3.921 3.902 3.847 3.819 3.802 3.822 3.824 PADD 1b - Central Atlantic Average 3.829 3.842 3.812 3.747 3.704 3.703 3.738 3.742 Conventional Areas 3.819 3.833 3.803 3.729 3.690 3.686 3.751 3.759 RFG Areas 3.836 3.847 3.817 3.759 3.713 3.713 3.730 3.732 PADD 1c - Lower Atlantic Average 3.762 3.777 3.730 3.655 3.611 3.631 3.664 3.648 Conventional Areas 3.760 3.777 3.731 3.657 3.612 3.633 3.667 3.650 RFG Areas 3.776 3.779 3.716 3.638 3.607 3.610 3.624 3.623 PADD 2 - Midwest Average 3.730 3.753 3.701 3.619 3.605 3.709 3.745 3.717 Conventional Areas 3.709 3.734 3.687 3.604 3.593 3.691 3.730 3.709 RFG Areas 3.865 3.877 3.791 3.714 3.685 3.830 3.846 3.771 PADD 3 - Gulf Coast Average 3.659 3.662 3.617 3.550 3.523 3.533 3.554 3.532 Conventional Areas 3.652 3.659 3.615 3.558 3.531 3.544 3.571 3.550 RFG Areas 3.683 3.674 3.623 3.525 3.494 3.493 3.498 3.471 PADD 4 - Rocky Mountain Conventional Areas 3.574 3.595 3.606 3.578 3.570 3.580 3.619 3.641 PADD 5 - West Coast Average 3.805 3.803 3.794 3.743 3.740 3.798 3.913 3.918 Conventional Areas 3.768 3.773 3.773 3.748 3.733 3.767 3.845 3.857 RFG Areas 3.820 3.815 3.803 3.740 3.742 3.811 3.941 3.943 PADD 5b - West Coast less CA Average 3.694 3.702 3.701 3.674 3.663 3.693 3.771 3.784 Conventional Areas 3.768 3.773 3.773 3.748 3.733 3.767 3.845 3.857 RFG Areas 3.341 3.361 3.360 3.319 3.331 3.342 3.418 3.440 California RFG Areas 3.865 3.857 3.844 3.780 3.781 3.855 3.990 3.990 Colorado Conventional Areas 3.547 3.554 3.542 3.499 3.485 3.511 3.566 3.596 Florida Conventional Areas 3.739 3.766 3.724 3.655 3.613 3.619 3.662 3.638 Massachusetts RFG Areas 3.829 3.826 3.815 3.767 3.736 3.709 3.729 3.727 Minnesota Conventional Areas 3.793 3.821 3.735 3.605 3.644 3.805 3.852 3.807 New York State Average 4.004 4.020 3.995 3.942 3.906 3.879 3.930 3.937 Conventional Areas 3.940 3.951 3.923 3.873 3.838 3.806 3.876 3.882 RFG Areas 4.059 4.080 4.057 4.002 3.965 3.942 3.976 3.983 Ohio Conventional Areas 3.677 3.702 3.631 3.585 3.549 3.698 3.728 3.667 Texas Average 3.682 3.684 3.638 3.554 3.523 3.533 3.546 3.526 Conventional Areas 3.681 3.690 3.648 3.573 3.543 3.559 3.579 3.562 RFG Areas 3.683 3.674 3.623 3.525 3.494 3.493 3.498 3.471 Washington Conventional Areas 3.861 3.868 3.870 3.834 3.817 3.857 3.932 3.947 Boston RFG Areas 3.829 3.827 3.815 3.771 3.742 3.713 3.732 3.730 Chicago RFG Areas 3.991 4.013 3.967 3.889 3.855 3.963 4.027 3.963 Cleveland Conventional Areas 3.688 3.706 3.616 3.624 3.590 3.709 3.740 3.699 Denver Conventional Areas 3.530 3.533 3.517 3.468 3.455 3.491 3.554 3.578 Houston RFG Areas 3.660 3.652 3.608 3.534 3.501 3.481 3.499 3.473 Los Angeles RFG Areas 3.910 3.892 3.872 3.792 3.818 3.890 4.018 4.023 Miami Conventional Areas 3.912 3.917 3.876 3.839 3.816 3.834 3.840 3.822 New York City RFG Areas 3.914 3.934 3.902 3.844 3.794 3.793 3.818 3.819 San Francisco RFG Areas 3.885 3.888 3.877 3.816 3.803 3.911 4.011 4.007 Seattle Conventional Areas 3.859 3.866 3.858 3.831 3.821 3.845 3.922 3.936 ++++++++++ Regular Date 7/25 8/1 8/8 8/15 8/22 8/29 9/5 9/12 ++++++++++ PADD 1 - East Coast Average 3.735 3.748 3.710 3.638 3.597 3.605 3.639 3.632 Conventional Areas 3.705 3.721 3.679 3.603 3.561 3.576 3.619 3.607 RFG Areas 3.784 3.793 3.759 3.694 3.654 3.651 3.672 3.672 PADD 1a - New England Average 3.841 3.845 3.822 3.760 3.734 3.721 3.750 3.751 Conventional Areas 3.770 3.777 3.738 3.662 3.650 3.660 3.706 3.699 RFG Areas 3.859 3.862 3.844 3.785 3.756 3.736 3.761 3.764 PADD 1b - Central Atlantic Average 3.759 3.772 3.738 3.670 3.625 3.626 3.666 3.667 Conventional Areas 3.754 3.768 3.739 3.665 3.624 3.621 3.692 3.696 RFG Areas 3.762 3.774 3.738 3.674 3.625 3.629 3.650 3.649 PADD 1c - Lower Atlantic Average 3.687 3.702 3.655 3.577 3.535 3.554 3.586 3.570 Conventional Areas 3.686 3.702 3.657 3.580 3.536 3.556 3.591 3.573 RFG Areas 3.696 3.700 3.632 3.552 3.521 3.529 3.539 3.539 PADD 2 - Midwest Average 3.694 3.717 3.666 3.583 3.570 3.673 3.711 3.683 Conventional Areas 3.675 3.700 3.654 3.570 3.559 3.656 3.697 3.677 RFG Areas 3.821 3.832 3.745 3.668 3.640 3.785 3.799 3.723 PADD 3 - Gulf Coast Average 3.600 3.602 3.558 3.489 3.462 3.473 3.494 3.472 Conventional Areas 3.594 3.600 3.558 3.500 3.473 3.487 3.513 3.492 RFG Areas 3.620 3.608 3.559 3.454 3.424 3.425 3.431 3.404 PADD 4 - Rocky Mountain Conventional Areas 3.532 3.552 3.560 3.532 3.524 3.535 3.575 3.597 PADD 5 - West Coast Average 3.756 3.754 3.745 3.694 3.691 3.749 3.864 3.868 Conventional Areas 3.722 3.727 3.726 3.700 3.685 3.719 3.798 3.808 RFG Areas 3.770 3.766 3.754 3.692 3.693 3.763 3.892 3.894 PADD 5b - West Coast less CA Average 3.648 3.655 3.654 3.626 3.616 3.646 3.724 3.737 Conventional Areas 3.722 3.727 3.726 3.700 3.685 3.719 3.798 3.808 RFG Areas 3.290 3.311 3.310 3.269 3.281 3.292 3.371 3.390 California RFG Areas 3.818 3.811 3.798 3.734 3.734 3.809 3.944 3.944 Colorado Conventional Areas 3.503 3.510 3.496 3.453 3.440 3.466 3.522 3.551 Florida Conventional Areas 3.663 3.690 3.647 3.577 3.535 3.539 3.584 3.559 Massachusetts RFG Areas 3.770 3.764 3.755 3.704 3.670 3.640 3.668 3.667 Minnesota Conventional Areas 3.757 3.784 3.699 3.569 3.605 3.768 3.815 3.771 New York State Average 3.934 3.952 3.924 3.870 3.829 3.801 3.858 3.861 Conventional Areas 3.876 3.887 3.856 3.809 3.770 3.738 3.816 3.820 RFG Areas 3.986 4.012 3.987 3.925 3.882 3.857 3.895 3.898 Ohio Conventional Areas 3.631 3.656 3.585 3.538 3.502 3.651 3.682 3.623 Texas Average 3.625 3.626 3.582 3.495 3.465 3.474 3.490 3.468 Conventional Areas 3.628 3.638 3.596 3.521 3.491 3.506 3.528 3.509 RFG Areas 3.620 3.608 3.559 3.454 3.424 3.425 3.431 3.404 Washington Conventional Areas 3.815 3.821 3.821 3.787 3.770 3.810 3.886 3.900 Boston RFG Areas 3.770 3.765 3.755 3.710 3.677 3.646 3.671 3.670 Chicago RFG Areas 3.948 3.969 3.923 3.845 3.812 3.920 3.982 3.918 Cleveland Conventional Areas 3.637 3.660 3.569 3.576 3.542 3.663 3.692 3.653 Denver Conventional Areas 3.482 3.486 3.468 3.420 3.407 3.444 3.507 3.530 Houston RFG Areas 3.595 3.582 3.542 3.464 3.432 3.411 3.429 3.404 Los Angeles RFG Areas 3.863 3.845 3.824 3.743 3.770 3.842 3.971 3.975 Miami Conventional Areas 3.836 3.838 3.792 3.753 3.730 3.753 3.757 3.739 New York City RFG Areas 3.839 3.863 3.825 3.759 3.708 3.708 3.737 3.735 San Francisco RFG Areas 3.836 3.842 3.830 3.770 3.754 3.866 3.967 3.960 Seattle Conventional Areas 3.814 3.820 3.811 3.783 3.774 3.798 3.877 3.890 ++++++++++ Midgrade Date 7/25 8/1 8/8 8/15 8/22 8/29 9/5 9/12 ++++++++++ PADD 1 - East Coast Average 3.866 3.876 3.842 3.775 3.735 3.743 3.771 3.767 Conventional Areas 3.833 3.847 3.806 3.732 3.688 3.704 3.746 3.733 RFG Areas 3.926 3.931 3.910 3.857 3.821 3.814 3.819 3.830 PADD 1a - New England Average 3.973 3.977 3.959 3.903 3.882 3.875 3.888 3.886 Conventional Areas 3.876 3.887 3.845 3.774 3.758 3.776 3.811 3.807 RFG Areas 3.997 3.999 3.987 3.934 3.912 3.898 3.906 3.905 PADD 1b - Central Atlantic Average 3.886 3.897 3.872 3.813 3.774 3.768 3.794 3.807 Conventional Areas 3.852 3.868 3.835 3.757 3.724 3.718 3.783 3.789 RFG Areas 3.906 3.914 3.895 3.846 3.804 3.799 3.801 3.817 PADD 1c - Lower Atlantic Average 3.830 3.842 3.798 3.725 3.678 3.698 3.732 3.716 Conventional Areas 3.827 3.840 3.797 3.724 3.676 3.698 3.733 3.716 RFG Areas 3.865 3.864 3.810 3.735 3.701 3.699 3.716 3.720 PADD 2 - Midwest Average 3.772 3.795 3.739 3.659 3.644 3.753 3.788 3.759 Conventional Areas 3.744 3.768 3.716 3.636 3.622 3.727 3.764 3.741 RFG Areas 3.954 3.970 3.888 3.811 3.783 3.923 3.948 3.876 PADD 3 - Gulf Coast Average 3.736 3.738 3.689 3.631 3.599 3.612 3.631 3.609 Conventional Areas 3.726 3.730 3.684 3.632 3.601 3.618 3.641 3.621 RFG Areas 3.769 3.767 3.706 3.625 3.593 3.592 3.596 3.570 PADD 4 - Rocky Mountain Conventional Areas 3.616 3.636 3.658 3.632 3.623 3.630 3.667 3.690 PADD 5 - West Coast Average 3.884 3.879 3.871 3.817 3.815 3.875 3.993 3.999 Conventional Areas 3.860 3.866 3.870 3.844 3.828 3.863 3.940 3.953 RFG Areas 3.891 3.883 3.872 3.808 3.810 3.879 4.009 4.012 PADD 5b - West Coast less CA Average 3.782 3.789 3.791 3.763 3.752 3.782 3.858 3.874 Conventional Areas 3.860 3.866 3.870 3.844 3.828 3.863 3.940 3.953 RFG Areas 3.428 3.436 3.435 3.395 3.406 3.416 3.485 3.515 California RFG Areas 3.925 3.916 3.903 3.839 3.840 3.912 4.047 4.049 Colorado Conventional Areas 3.613 3.621 3.612 3.571 3.553 3.578 3.635 3.664 Florida Conventional Areas 3.809 3.835 3.797 3.735 3.687 3.693 3.737 3.710 Massachusetts RFG Areas 3.893 3.898 3.893 3.845 3.822 3.798 3.804 3.799 Minnesota Conventional Areas 3.839 3.866 3.779 3.648 3.690 3.849 3.897 3.849 New York State Average 4.081 4.096 4.074 4.030 4.000 3.976 4.016 4.028 Conventional Areas 4.003 4.020 3.995 3.948 3.917 3.876 3.943 3.947 RFG Areas 4.131 4.144 4.124 4.082 4.052 4.040 4.063 4.079 Ohio Conventional Areas 3.737 3.761 3.689 3.647 3.609 3.759 3.790 3.723 Texas Average 3.766 3.769 3.716 3.641 3.607 3.618 3.629 3.609 Conventional Areas 3.764 3.770 3.723 3.652 3.616 3.636 3.652 3.636 RFG Areas 3.769 3.767 3.706 3.625 3.593 3.592 3.596 3.570 Washington Conventional Areas 3.947 3.954 3.962 3.922 3.906 3.946 4.016 4.034 Boston RFG Areas 3.899 3.904 3.898 3.853 3.829 3.807 3.814 3.810 Chicago RFG Areas 4.066 4.093 4.043 3.965 3.933 4.038 4.104 4.039 Cleveland Conventional Areas 3.760 3.769 3.674 3.691 3.654 3.768 3.806 3.758 Denver Conventional Areas 3.602 3.602 3.593 3.543 3.528 3.563 3.627 3.650 Houston RFG Areas 3.749 3.752 3.695 3.635 3.596 3.579 3.598 3.571 Los Angeles RFG Areas 3.962 3.944 3.925 3.847 3.868 3.940 4.069 4.073 Miami Conventional Areas 3.999 4.012 3.981 3.959 3.927 3.934 3.942 3.923 New York City RFG Areas 3.997 4.010 3.988 3.945 3.894 3.895 3.898 3.923 San Francisco RFG Areas 3.953 3.950 3.941 3.874 3.871 3.970 4.070 4.068 Seattle Conventional Areas 3.946 3.953 3.951 3.924 3.913 3.935 4.008 4.024 ++++++++++ Premium Date 7/25 8/1 8/8 8/15 8/22 8/29 9/5 9/12 ++++++++++ PADD 1 - East Coast Average 3.996 4.010 3.974 3.914 3.873 3.880 3.908 3.904 Conventional Areas 3.972 3.990 3.946 3.878 3.834 3.850 3.888 3.881 RFG Areas 4.034 4.041 4.019 3.970 3.935 3.927 3.940 3.941 PADD 1a - New England Average 4.092 4.098 4.073 4.024 4.002 3.995 4.009 4.008 Conventional Areas 3.992 4.012 3.971 3.904 3.886 3.898 3.940 3.936 RFG Areas 4.117 4.119 4.098 4.053 4.031 4.018 4.026 4.025 PADD 1b - Central Atlantic Average 4.008 4.019 3.998 3.941 3.903 3.895 3.922 3.930 Conventional Areas 3.999 4.012 3.985 3.912 3.876 3.866 3.917 3.934 RFG Areas 4.013 4.023 4.005 3.959 3.918 3.912 3.924 3.927 PADD 1c - Lower Atlantic Average 3.964 3.982 3.932 3.866 3.819 3.841 3.873 3.858 Conventional Areas 3.962 3.982 3.932 3.866 3.818 3.842 3.876 3.860 RFG Areas 3.985 3.987 3.934 3.862 3.830 3.823 3.845 3.842 PADD 2 - Midwest Average 3.919 3.942 3.884 3.806 3.793 3.896 3.923 3.892 Conventional Areas 3.896 3.920 3.866 3.789 3.777 3.875 3.902 3.878 RFG Areas 4.065 4.081 3.996 3.919 3.890 4.034 4.056 3.982 PADD 3 - Gulf Coast Average 3.870 3.878 3.829 3.769 3.742 3.745 3.769 3.747 Conventional Areas 3.859 3.869 3.822 3.770 3.745 3.751 3.783 3.760 RFG Areas 3.904 3.905 3.854 3.769 3.734 3.726 3.725 3.702 PADD 4 - Rocky Mountain Conventional Areas 3.739 3.761 3.779 3.752 3.743 3.750 3.789 3.811 PADD 5 - West Coast Average 3.984 3.981 3.972 3.920 3.918 3.978 4.091 4.100 Conventional Areas 3.967 3.974 3.975 3.953 3.937 3.972 4.049 4.064 RFG Areas 3.990 3.983 3.971 3.909 3.912 3.980 4.106 4.112 PADD 5b - West Coast less CA Average 3.893 3.903 3.903 3.878 3.867 3.898 3.972 3.991 Conventional Areas 3.967 3.974 3.975 3.953 3.937 3.972 4.049 4.064 RFG Areas 3.555 3.577 3.575 3.534 3.546 3.557 3.621 3.658 California RFG Areas 4.026 4.016 4.003 3.940 3.942 4.015 4.146 4.150 Colorado Conventional Areas 3.725 3.733 3.725 3.683 3.666 3.690 3.744 3.775 Florida Conventional Areas 3.934 3.963 3.922 3.856 3.815 3.825 3.865 3.841 Massachusetts RFG Areas 4.014 4.017 3.995 3.956 3.933 3.914 3.914 3.911 Minnesota Conventional Areas 3.978 4.012 3.917 3.788 3.840 3.999 4.042 3.996 New York State Average 4.185 4.196 4.177 4.128 4.102 4.076 4.114 4.128 Conventional Areas 4.121 4.133 4.111 4.052 4.026 3.995 4.045 4.058 RFG Areas 4.237 4.247 4.231 4.190 4.164 4.142 4.171 4.185 Ohio Conventional Areas 3.846 3.869 3.802 3.753 3.719 3.864 3.894 3.830 Texas Average 3.894 3.897 3.851 3.774 3.742 3.749 3.757 3.740 Conventional Areas 3.887 3.892 3.849 3.778 3.747 3.765 3.780 3.768 RFG Areas 3.904 3.905 3.854 3.769 3.734 3.726 3.725 3.702 Washington Conventional Areas 4.059 4.063 4.073 4.033 4.016 4.055 4.126 4.145 Boston RFG Areas 4.023 4.027 4.002 3.967 3.944 3.925 3.926 3.923 Chicago RFG Areas 4.176 4.203 4.153 4.077 4.044 4.150 4.218 4.153 Cleveland Conventional Areas 3.868 3.875 3.789 3.799 3.762 3.876 3.913 3.865 Denver Conventional Areas 3.717 3.715 3.706 3.656 3.642 3.675 3.735 3.764 Houston RFG Areas 3.874 3.875 3.822 3.759 3.725 3.706 3.725 3.696 Los Angeles RFG Areas 4.060 4.042 4.023 3.948 3.970 4.042 4.169 4.173 Miami Conventional Areas 4.101 4.109 4.078 4.037 4.021 4.029 4.042 4.024 New York City RFG Areas 4.105 4.120 4.100 4.060 4.012 4.006 4.030 4.031 San Francisco RFG Areas 4.052 4.047 4.037 3.973 3.968 4.067 4.161 4.168 Seattle Conventional Areas 4.052 4.060 4.058 4.032 4.017 4.040 4.114 4.131 Source: Form EIA-878 "Motor Gasoline Price Survey"

US Diesel Pricing - Source EIA - September 13,2011

US NATL EAST NEW CENT LOWER GULF ROCKY WEST DATE AVG COAST ENGLAND ATL ATL MIDWEST COAST MTN COAST CA PADD PADD PADD PADD PADD PADD PADD PADD I IA IB IC II III IV V ------ ----- ----- ------- ----- ----- ------- ----- ----- ----- ----- 110912 3.862 3.879 3.985 3.985 3.825 3.841 3.790 3.903 3.984 4.067 110905 3.868 3.886 3.994 3.987 3.833 3.852 3.800 3.890 3.981 4.058 110829 3.820 3.843 3.977 3.930 3.793 3.803 3.763 3.839 3.908 3.958 110822 3.810 3.844 3.994 3.944 3.788 3.789 3.772 3.815 3.855 3.928 110815 3.835 3.871 4.001 3.983 3.811 3.815 3.806 3.826 3.863 3.957 110808 3.897 3.936 4.031 4.053 3.877 3.875 3.868 3.851 3.949 4.067 110801 3.937 3.974 4.045 4.090 3.918 3.918 3.904 3.855 4.000 4.136 110725 3.949 3.988 4.037 4.090 3.940 3.925 3.913 3.848 4.038 4.145 110718 3.923 3.963 4.034 4.066 3.912 3.903 3.882 3.827 4.005 4.114 110711 3.899 3.926 4.012 4.034 3.872 3.875 3.856 3.838 4.012 4.099 110704 3.850 3.870 4.009 3.978 3.812 3.818 3.798 3.851 3.993 4.065 110627 3.888 3.914 4.038 4.014 3.860 3.842 3.834 3.885 4.069 4.146 110620 3.950 3.962 4.077 4.074 3.904 3.904 3.896 3.959 4.156 4.236 110613 3.954 3.968 4.087 4.088 3.905 3.905 3.896 3.988 4.163 4.245 110606 3.940 3.955 4.105 4.074 3.891 3.889 3.877 4.015 4.146 4.223 110530 3.948 3.962 4.121 4.082 3.897 3.896 3.884 4.020 4.161 4.227 110523 3.997 4.011 4.161 4.138 3.943 3.942 3.935 4.101 4.201 4.287 110516 4.061 4.075 4.207 4.210 4.005 4.015 3.996 4.134 4.248 4.371 110509 4.104 4.117 4.218 4.248 4.052 4.066 4.022 4.156 4.307 4.459 110502 4.124 4.128 4.231 4.269 4.059 4.086 4.060 4.156 4.328 4.465 110425 4.098 4.105 4.222 4.238 4.038 4.061 4.024 4.134 4.305 4.438 110418 4.105 4.111 4.212 4.229 4.051 4.068 4.033 4.126 4.319 4.440 110411 4.078 4.082 4.154 4.204 4.024 4.040 4.001 4.097 4.308 4.397 110404 3.976 3.982 4.109 4.092 3.923 3.932 3.905 4.017 4.209 4.323 110328 3.932 3.952 4.095 4.061 3.892 3.883 3.857 3.959 4.155 4.256 110321 3.907 3.938 4.087 4.046 3.878 3.855 3.841 3.925 4.104 4.199 110314 3.908 3.946 4.081 4.061 3.885 3.859 3.842 3.888 4.091 4.170 110307 3.871 3.908 4.046 4.014 3.850 3.823 3.812 3.845 4.046 4.122 110228 3.716 3.764 3.903 3.875 3.703 3.661 3.656 3.698 3.892 3.964 110221 3.573 3.620 3.769 3.734 3.557 3.517 3.522 3.568 3.729 3.799 110214 3.534 3.587 3.749 3.700 3.524 3.479 3.489 3.511 3.671 3.747 110207 3.513 3.565 3.717 3.682 3.501 3.475 3.455 3.459 3.630 3.707 110131 3.438 3.494 3.633 3.611 3.432 3.399 3.384 3.396 3.533 3.612 110124 3.430 3.480 3.609 3.590 3.421 3.392 3.382 3.388 3.531 3.602 110117 3.407 3.448 3.560 3.556 3.392 3.371 3.366 3.374 3.509 3.562 110110 3.333 3.364 3.450 3.478 3.308 3.302 3.284 3.334 3.445 3.516 110103 3.331 3.357 3.427 3.470 3.303 3.303 3.279 3.332 3.443 3.507 101227 3.294 3.313 3.406 3.428 3.256 3.278 3.226 3.311 3.405 3.470 101220 3.248 3.260 3.375 3.381 3.197 3.229 3.183 3.290 3.366 3.407 101213 3.231 3.248 3.373 3.364 3.187 3.205 3.163 3.285 3.361 3.403 101206 3.197 3.206 3.315 3.328 3.144 3.175 3.132 3.276 3.321 3.352 101129 3.162 3.166 3.237 3.288 3.108 3.144 3.078 3.272 3.300 3.328 101122 3.171 3.172 3.235 3.293 3.115 3.156 3.087 3.265 3.316 3.340 101115 3.184 3.187 3.230 3.303 3.133 3.167 3.100 3.278 3.329 3.339 101108 3.116 3.114 3.170 3.225 3.061 3.102 3.030 3.199 3.273 3.279 101101 3.067 3.063 3.147 3.181 3.005 3.049 2.982 3.141 3.242 3.237 101025 3.067 3.064 3.136 3.180 3.008 3.048 2.985 3.128 3.243 3.229 101018 3.073 3.072 3.140 3.188 3.016 3.063 2.979 3.112 3.249 3.232 101011 3.066 3.065 3.118 3.178 3.011 3.055 2.982 3.085 3.239 3.215 101004 3.000 2.997 3.040 3.095 2.952 2.990 2.920 3.024 3.165 3.179 100927 2.951 2.946 3.004 3.034 2.904 2.928 2.883 3.014 3.121 3.139 100920 2.960 2.949 2.997 3.041 2.905 2.944 2.890 3.037 3.120 3.150 100913 2.943 2.932 2.987 3.019 2.890 2.920 2.887 3.031 3.101 3.142 * By July 26, 2010, there were no outlets reporting Low Sulfur Diesel fuel prices on EIA's price survey; therefore, the on-highway diesel price became fully represented by Ultra Low Sulfur Diesel (ULSD). As of December 1, 2010 (September 1, 2006 in California), any on-highway diesel fuel sold is ULSD as mandated by EPA on-highway diesel regulations.

Crude Oil September - YNFX report (source) -September 12,2011

Crude Oil September US crude oil futures will inch up by about US cents 30 a barrel in September after declining by more than US$10 a barrel in August. Oil futures had ended up for the second straight week as production shut-down in the Gulf of Mexico after formation of Tropical Storm Lee near the Louisiana coast. Prices were also supported by a sharp decline in US gasoline inventories and on hopes that Federal Reserve would provide new stimulus to help sustain economic recovery. The Europe Brent spot continued to remain at premium over the US futures and the London Brent will inch US cents 50 a barrel on a average in September after falling US$5 in August.

Bank of America considers huge job cuts Source Associated Press - September 9,2011

Reports: Bank of America considers huge job cuts The Associated Press Posted: 09/09/2011 05:58:42 AM MDTUpdated: 09/09/2011 06:40:08 AM MDT NEW YORK—Bank of America is considering cutting at least 10 percent of its work force as part of a massive restructuring, according to published reports. The Wall Street Journal said that officials at the Charlotte, N.C. bank have discussed cutting 40,000 employees, or 14 percent of its 288,000 total staff. Bloomberg put the job cuts at about 10 percent. They each cited people that were not identified by name. A spokesman for Bank of America wasn't immediately available to comment before business hours on Friday. Bank of America Corp. has already cut at least 6,000 jobs this year as part of its reorganization under CEO Brian Moynihan, who has been in the top spot since last year. Moynihan earlier this week unveiled a shake-up in the bank's management ranks, announcing that two key officers will leave and the promotion of two others to share the chief operating officer role. The bank, still struggling under the weight of toxic mortgage loans, says the moves are part of "delayering and simplifying" operations. It has more employees than most of its major competitors, and top executives have stressed the need to eliminate redundancies resulting from past acquisitions. The Journal said that most of the job cuts are expected to be made on its consumer side. It got rid of 63 unprofitable branches between April and June and said it plans to close 750 of its nearly 6,000 locations in the next several years. Bank of America Corp. started a cost cutting program called New BAC in the spring. Moynihan said Tuesday that the second phase of New BAC will begin next month and run through March. Its shares slipped 5 cents to $7.15 in premarket trading Friday.

Bio for Jeff Hajek - Source Blog Notions - September 8,2011

Jeff Hajek is the owner and founder of Velaction Continuous Improvement and the award-winning author of Whaddaya Mean I Gotta Be Lean? Building the bridge from job satisfaction to corporate profit. Jeff’s website, www.Velaction.com, is the home of one of the most extensive and detailed online Lean dictionaries you will find. Jeff graduated from West Point with a mechanical engineering degree and served nearly six years in the military. Before starting his own training and consulting business, he held a variety of roles in manufacturing companies, including engineering, leadership, and continuous improvement positions. He earned his Master Black Belt under the Danaher Business System, and his MBA from the Foster School of Business at the University of Washington. Jeff is an innovative Lean thinker who focuses on developing a variety of improvement skills in frontline employees, and in creating the culture that helps those people thrive. Contact Information Email: Info@Velaction.com Phone: 800.670.5805 Website: www.Velaction.com

How do you approach an idea? Source Blog Notions - September 8,2011

Posted by Jeff Hajek, July 31, 2011 There are two basic types of people. Those who are worried about trying an idea that won’t work, and those that are worried about not trying an idea that might work. The first type can go a whole career with some degree of success. Every time I play golf, I realize that at my skill level, a successful game is far more about avoiding errors than it is about making great shots. When I hit a great drive down the middle of the fairway, it rarely translates into a birdie (one better than par). But when I hit a shot into the water, or lose one in the woods, or misread a green, the extra shots pile on in a hurry. I find that being risk averse results in better scores for me. But in real life off the golf course, I am more worried about missing opportunities than I am about making mistakes. There is a lot of competition in the improvement consulting world. Simply avoiding mistakes is not enough to be successful. You end up being left behind by others with more interesting, effective training tools and more innovative ideas. You have to take chances and try new things to keep your rivals from pulling ahead of you. If you are familiar with sampling or hypothesis testing, you will recognize what I am talking about: error types. You might know them as Type-I and Type-II, or alpha and beta errors. One is the “false positive”, in which something is thought to be true, but really isn’t. And the other is the “false negative”. In that error mode, a rejected hypothesis is, in fact, true. The same thought process applies to idea generation. In the chart below, you can see this graphically. Every idea is either good or bad, but it is also perceived as good or bad. Arranging the two parameters into a grid gives four quadrants.

European Economic Crisis - Source Blog Notions - September 8,2011

Currently, several countries in Europe such as Italy and Greece were hit by the economic crisis. While the superpowers United States are also experiencing economic problems. Crisis of the global market economy is a cycle that repeated for a period of time, say the economist. Economic crisis in developed countries in Europe and America today, yet at the stage of spread or affect other economies. As the crisis that spread in 2008 in several countries. But of course there still receive the effects. For instance sentiment in the stock market. However, that does not mean other countries do not anticipate, including in Southeast Asia and Indonesia. In addition to market sentiment from the outside, a big influence at this time for Indonesia to do with the global market is the internal condition of the nation. With regard to the political and legal issues.Still broke down. Moreover, the impact of the economic crisis? Clearly investors be thinking of investing in Europe and America. Now, developing countries kinds Brazil, India, and Indonesia is an attractive alternative. So, this is a good opportunity for developing countries provided that would fix the internal problems of other, related to the investment climate such as the ease and clarity of laws, procedures and security guarantees

Border truck ferry reduces rates; expands offerings - Source trucking today - September 8,2011

Border truck ferry reduces rates; expands offerings 09/06/2011 WINDSOR, Ont. – In anticipation for the construction of the new Windsor Essex Parkway, The Detroit-Windsor Truck Ferry has revamped its crossing fee structure. More significantly, the ferry will begin offering reduced rates for non-hazmat units and over-dimensional loads. "With scheduled crossing of the Detroit River and competitive new rates for non-hazardous and over-dimensional loads, truckers will now have more options to cross the border in an efficient and effective manner," says Gregg Ward, vice president of the family-operated ferry. "The truck ferry has long played a critical role in providing a crossing option for the automotive industry during border emergencies," he continued. The change in rates will now make the truck ferry a competitive crossing option during all border scenarios. The ability to reserve capacity means your freight will cross the border on time."

August Truck Order Numbers Improve - Source Trucking info.com - September 8,2011

August Truck Order Numbers Improve Commercial truck orders improved during August, according to preliminary data from two trucking industry analysis firms. ACT Research said it expects that when final August data is released in mid-September, North American Class 8 orders will come in at 20,800 units, while FTR Associates data showed Class 8 orders at 20,513, an 11% increase over July. Despite this modest improvement, the numbers were still down at levels not seen since October 2010, FTR cautioned. Nevertheless, it said, the pace of orders earlier this year was so strong that annualized Class 8 orders for the six-month period including August stand at 299,600 units, a significant improvement from a year ago. "Although August numbers weren't spectacular, the fact that they reversed the downward trend we had seen over the past three months gave us an indication that fleet buyers are still in the market for new vehicles," said Eric Starks, president of FTR. "We were worried that orders might fall given the uncertainty in the economy. The current level of activity makes me breath a bit easier and suggests that fleets were not spooked into delaying orders." Going forward, orders will primarily be for 2012 build since the manufacturer order boards are basically full for the remainder of this year, said Starks. Builders will not be taking any heroic measures to increase current production rates given the high level of uncertainty in the economy. Despite current weakness, FTR is cautiously optimistic that these build rates will be supportable into 2012. However, if the economy turns sour in a big way, that certainly could change the dynamic. On the medium-duty side, ACT projects Class 5-7 orders to reach 12,100 units, somewhat behind last year's level. "Despite unfolding economic uncertainty, both Classes 5-7 and Class 8 posted solid gains compared to July," said Kenny Vieth, ACT's president and senior analyst. "While the Classes 5-7 volume was down versus last year, that comparison is to one of the strongest months of 2010. When Class 8 is taken into account, total Classes 5-8 commercial vehicle net orders posted a very solid year-over-year performance."

Diesel Prices Up, Crude Down - Source Trucker Info - September 8,2011

Diesel Prices Up, Crude Down Diesel prices were up nearly 5 cents a gallon this week, to $3.868 per gallon nationwide, according to the Energy Department's weekly figures. That's 93.7 cents per gallon higher than a year ago. The highest prices were reported in California, where prices surged 10 cents to $4.058. It was followed by the New England region at $3.994 per gallon. Prices were $3.98 per gallon on the West Coast and in the Central Atlantic region. The lowest prices were reported in the Gulf Coast region at $3.80 average. Crude oil futures were slightly lower Tuesday as investors acted on deepening concerns about the European and U.S. economic outlook. Light, sweet crude for October delivery settled down 43 cents, or 0.5%, to $86.02 a barrel on the New York Mercantile Exchange. The price of West Texas Intermediate (WTI) crude oil settled at $86.45 per barrel on Friday, $1.08 above a week earlier. Compared with a year earlier, the price of WTI was up 15.9%.

Will bargain Bayer attract a buyer after setback? - Source Reuters - September 8,2011

Will bargain Bayer attract a buyer after setback? By Ludwig Burger FRANKFURT | Wed Sep 7, 2011 10:57am EDT (Reuters) - One day after a damning appraisal by U.S. regulators of Bayer's (BAYGn.DE) Xarelto pill, analysts took stock of what the group could be worth without its most important pipeline drug, and some now see it as a takeover target. The prevailing view is that the share rout that followed the Food and Drug Administration's preliminary verdict on Tuesday made Bayer quite a bargain, even in the worst case that Xarelto wins no or only a small inroad in the world's largest drug market. One analyst even suggests that industry rivals, Sanofi (SASY.PA) in particular, stand to gain from buying Bayer outright. U.S. drug regulators said Bayer and Johnson & Johnson's (JNJ.N) experimental stroke preventer Xarelto, an anti blood-clotting agent, was not ready for approval and questions were raised about its effectiveness, sending Bayer shares down more than 7 percent. Xarelto is Bayer's most important pipeline drug by far, and the company eyes more than 2 billion euros ($2.8 billion) in annual sales from it. On Wednesday, the shares had recouped 2 percent, hitting 38.49 euros by 9:37 a.m. EDT. "On average the European Pharma companies would stand to increase their (2015 estimated earnings per share) by 50 percent even in the scenario of zero contribution from Xarelto globally," J.P. Morgan analysts Alexandra Hauber and Richard Vosser said in a note issued on Wednesday. "We believe the best strategic fit is with Sanofi, Novartis (NOVN.VX) and AstraZeneca (AZN.L)," they said, basing their analysis on a hypothetical 20 percent takeover premium over Tuesday's close. Bayer would be a "very strong fit" across Sanofi's oncology, multiple sclerosis, diabetes, animal health and consumer health businesses, they added. For its part, Sanofi on Tuesday again ruled out major transactions. Apart from the deal size -- Bayer has a market value of more than 30 billion euros even after the slump -- Bayer's chemicals-to-drugs hybrid structure would make a takeover a highly complex transaction. A healthcare buyer seeking to preserve its "pure play" bonus would have to divest Bayer's pesticides and chemicals business, which according to J.P.Morgan could be a 20-25 billion euro deal. Still, UniCredit analysts echoed J.P. Morgan in saying that Bayer was now a "compelling acquisition target" with a fair value of 76.08 euros per share, more than double Tuesday's close. Both Bayer's alpharadin, a drug against bone metastases, and eye drug Eylea, previously known as VEGF Trap-Eye, make for an attractive pipeline without Xarelto, several brokerages said. Of the 36 Bayer analysts tracked by Thomson Reuters StarMine, 23, or more than 60 percent, rate the stock "buy" or the equivalent of "strong buy." Their average price target is 61.07 euros per share. The FDA's recommendation, however, took most analysts by surprise. "This view is significantly different from the consensus of cardiologists presenting at the European Society of Cardiology conference last week," said Craig Maxwell at UniCredit. Many of his peers stressed that the FDA advisory committee of independent experts due to vote late on Thursday could still take a different view from the FDA's initial statement, but peak sales estimates were slashed or put in doubt across the board. Equinet analyst Martin Possienke cut his estimate of maximum annual sales from Xarelto to 500 million from 3 billion euros. Barclays Capital's Mark Purcell said he was bracing for "commercial failures" of the Xarelto franchise. Even if approved, Xarelto's use in the United States might be limited to those patients for whom the established stroke prevention drug warfarin and Boehringer Ingelheim's new Pradaxa pill is not advisable. Rival treatment Eliquis, under development by Bristol-Myers Squibb (BMY.N) and Pfizer (PFE.N), is currently viewed as the drug with potentially the best benefit-risk profile in a stroke prevention market that could top $10 billion a year. (Editing by Will Waterman)

MAKE YOUR BOSS NOTICE YOUR CONTRIBUTIONS - Source Job Search - September 7,2011

MAKE YOUR BOSS NOTICE YOUR CONTRIBUTIONS In the world of employment, showing your true worth as an employee is not only important when you are trying to get a job but also when you have the job. No matter what your occupation may be, showing your true worth to your employer is extremely important. If you are unsure as to how you should make your employer notice your company contributions, there are many ways to go about doing so. Volunteer for Key Company Projects One of the best ways to show your true worth to the employer is to volunteer for key company projects. Although many employers choose who they want to be on a particular project, others like to ask for volunteers. The employer does this for many reasons including obtaining fresh insight into company projects and simply seeing which employee is willing and able to step up to the plate. When you volunteer for key projects, you will not only impress your employer with your dedication and willingness to be a part of something big within the company but you will also help to improve your knowledge with regard to company operations. Arrive Early, Stay Late Another way to really make your employer notice your company contributions, especially if he/she works on site, is to arrive to work early and stay a little late from time to time. This is not to say that you should live within the four walls of your office. Simply take that extra step to show your employer that you are willing to go the extra mile and complete your work, no matter how long it takes. No doubt your employer will notice your dedication and commend you on that. Bring In New Business An additional way to show your employer just how much you contribute to the daily business operations is to bring in new business. Although this may not be possible for every individual due to their job title, most can in some way initiate new client contact and bring new business into the company. This will not only increase revenue for your company but also will show your employer that you are actively pursuing new clients and show your true worth to the employer and the company as a whole. Invent New Ways to Increase Your Own Productivity You employer will also notice an increase in productivity with his/her employees. There are many ways you can increase your productivity and impress your boss even more. In addition to spending more time in the office as mentioned above, you can also find better ways to manage your time, use more efficient work methods and other great productivity boosters. By increasing your productivity, you are becoming a more valuable player in the office and your employer is sure to notice. Why It's Important to Make Your Company Contributions Known There are a few reasons why you want your employer to take note of just how valuable an employee you are. First, this will help to ensure job security which is extremely important especially due to the unemployment rates these days. Secondly, being a valuable employee will make it more likely that you will get that raise or new position within the company which you have had your eye on. Lastly, an employer who has worthy employees who do their work and contribute to the company's wellbeing is a happier employer overall which makes the employees content as well. If you've tried everything and still aren't getting the recognition you deserve, maybe it's time to explore other options. Try one of the services we have reviewed to start getting some job leads. You can be seen by up to 1.5 million employers and recruiters daily simply by getting your resume posted on all the pertinent job boards. Using a service like ResumeDirector, you can get your resume posted on over 90 job sites at once, including Monster, Job.com, CareerBuilder, etc. To find out more about their service, visit this web address: http://www.jobsearchinfo.com/rd.htm Another of getting job leads is to get your resume sent directly to recruiters. The ResumeArrow resume distribution service reaches recruiters in all sectors. The service asks your salary range when you sign up so recruiters who serve your particular salary range will see immediately whether they can help you. To find out more about ResumeArrow, visit this web address: http://www.jobsearchinfo.com/dist.htm

More US Companies Look Global as Domestic Demand Drops - Source VOA - September 6,2011

More US Companies Look Global as Domestic Demand Drops Elizabeth Lee | Los Angeles Assembly worker Julaynne Trusel works a on a 2012 Chevrolet Volt at the General Motors Hamtramck Assembly plant in Hamtramck, Michigan, July 27, 2011 (file photo). . Since the economic recession in 2008, some U.S. companies that historically depend on the domestic market started looking elsewhere for business. In Southern California, organizations that help businesses have been encouraging them to go global to boost their bottom line. There are reasons why most American businesses do not export their products. California-based Tystar sells a special type of furnace. It gets so hot that it can cook the silicone components that go in computers and cell phones. The company assembles these furnaces in Los Angeles and sells them within the United States and overseas. Jim Smith manages the business development side of Tystar. He says in the last four to five years, the company started focusing more on establishing itself globally, in markets as far away as China, Singapore and South Korea. During that time, exports grew from 20 percent to half of Tystar's business.

Asian Sales Propel Apple Profits - Source Bloomberg - September 6,2011

Asian Sales Propel Apple Profits VOA News Strong demand in emerging markets - and especially in Asia - is pushing profits at U.S.-based Apple to record highs. The maker of the iPhone and iPad tablet computer says profits for the April through June period hit $7.3 billion, twice as high as the same quarter last year. Apple says sales of its products increased most dramatically in China, Hong Kong and Taiwan. One executive says Apple's sales in China were just "scratching the surface". Worldwide, Apple says it sold 20.34 million iPhones during the quarter - twice as many as it sold during the same time last year. Sales of its tablet computer, the iPad, tripled to 9.25 million. Apple computer sales totaled 3.95 million, 14 percent higher than the same time last year. Separately Wednesday, Chinese computer maker Lenovo launched a new challenge to Apple's dominance in the tablet computer market. Lenovo said said it will start selling three new tablet computers globally later this year. The company has already been selling tablet computers in China. Lenovo's tablets will sell for between $479 and $499. In comparison, Apple's iPad 2 starts at $499 for the least expensive model. Some information for this report was provided by Bloomberg and Reuters.

http://blogs.voanews.com/breaking-news/2011/09/05/on-us-labor-day-obama-calls-for-new-worker-aid Source VOA - September 6,2011

U.S. President Barack Obama praised American workers on the country's Labor Day holiday, while calling on political opponents to join him in supporting new spending to fix roads and bridges and to extend a national payroll tax cut. The president appeared Monday before a cheering group of union workers in auto industry hub of Detroit, Michigan. With the country's economy stagnant, he acknowledged that these “are tough times for American workers.” But Mr. Obama, a Democrat, vowed to propose new support for workers in his speech to a joint session of Congress on Thursday night. Numerous opposition Republican lawmakers have opposed his call for more spending to support job creation, but the president challenged them to, in his words, “put country ahead of party.” He said that among other things, he would propose construction spending to fix the country's crumbling roads and bridges, as well as extend an eight-month-old 2 percent payroll tax cut beyond its scheduled expiration at the end of the year. He told Congress, “The time for action is now.” The Labor Day holiday is the country's traditional salute to workers, but this year the U.S. is struggling with persistent high unemployment and stagnant job growth. Labor Day has been officially recognized in the U.S. since 1894. Over the years, it has often been celebrated as the last of the summer holidays with family gatherings and union worker parades, as it was Monday, before cooler weather returns. In some communities, it is the last day before the school year starts for children. But the organized labor movement in the country is greatly diminished from its high point in the post-World War Two years. Now, about one of every eight workers is a union member. But unionized local, state and federal government workers now outnumber those working for private companies, a marked shift from the early days of the country's union movement when unionized factory workers dominated union membership rolls. The country faces daunting labor challenges, and did not add any new jobs in August. About 14 million workers are unemployed, with millions more working part-time even as they attempt to land full-time jobs. The country's unemployment rate has hovered at an unusually high 9 percent figure for 29 months and shows no sign of improving.

President Obama Highlights Need to Combat US Joblessness - Source VOA - September 6,2011

President Obama Highlights Need to Combat US Joblessness Michael Bowman | Washington President Barack Obama waves as he is introduced on stage during a Labor Day event at Detroit's Renaissance Center, headquarters of General Motors, in Detroit, Michigan, September 5, 2011. . U.S. President Barack Obama says America’s jobless should be put to work as part of a comprehensive program to boost a languishing economy. The president marked Monday’s U.S. Labor Day holiday with a speech in Detroit, Michigan, one of America’s most-economically depressed cities. At a time of sluggish U.S. economic growth and stubbornly high unemployment, President Barack Obama acknowledged the obvious. “These are tough times for working Americans," he said. "They are even tougher for Americans who are looking for work, and a lot of them have been looking for a long time.” Home to what was once the world’s biggest car making hub, Michigan has seen hundreds of industries shrink or disappear altogether, and is currently enduring a 10.9 percent unemployment rate, nearly two points higher than the national average. In Detroit, joblessness has hovered between 20 and 30 percent in recent years. President Obama said the nation can forge a better economic future if it unleashes workers on infrastructure projects. “We have got roads and bridges across this country that need rebuilding," he said. "We have got private companies with the equipment and the manpower to do the building. We have got more than one-million unemployed construction workers ready to get dirty right now. There is work to be done, and there are workers ready to do it.” Obama urged the U.S. Congress to “get on board” with an infrastructure program. Thursday, the president will lay out his economic agenda before a joint session of Congress. Although the White House has provided few details in advance, Obama’s proposals are expected to include a substantial federal push to boost employment in the United States. Already, Republicans are lining up in opposition to a government-directed jobs initiative. Texas Governor Rick Perry, who is seeking the Republican presidential nomination to challenge Obama in 2012, told supporters in South Carolina the key to Texas’ relatively low unemployment rate is a vibrant private sector and a state government that does not over-extend itself. “We [have] got to get America back working again," said Perry. "And government’s role is to create an environment [conducive to job growth]. I did not create those jobs. Americans created those jobs. Texans created those jobs, because we allowed them to have an environment where they were not overtaxed, overregulated, or over-litigated. We got out of the way and let the private sector do what the private sector does best: create jobs.” Celebrated on the first Monday of September, Labor Day became a national holiday in the late 1800s, a period of significant labor strife in the United States. Although major strikes are less common today and American union membership has declined in recent decades, Labor Day remains a time to reflect upon and celebrate the sacrifices and contributions of workers to the nation’s progress and prosperity. In many Americans’ minds, it is also a time to mark the end of summer.

Mentoring - MicroMentor - August 6,2011

IIf you can be a mentor or mentee please check out a free service for business owners. Micro Mentor! I been a member for several years and recommend the service for business improvement. Why Work with a Business Mentor? Business Knowledge and Experience at Your Fingertips: Whether you are creating a business plan or expanding into a new market, a mentor can provide you with expertise and guidance that will help you be more successful. I never even thought of myself as an entrepreneur, and it was my mentor that assured me that I am one. Barbara, owner of TASK Transcription Services

ConocoPhillips' New Jersey Refinery Resumes Production - Source Downstream - September 5,2011

ConocoPhillips' New Jersey Refinery Resumes Production by Rose Marton-Vitale Dow Jones Newswires September 02, 2011 NEW YORK (Dow Jones) ConocoPhillips' (COP) Bayway refinery in Linden, N.J., has resumed production, a person familiar with operations at the plant said on Friday. The 238,000-barrel-a-day refinery was taken out of service on Saturday evening as a precaution ahead of Hurricane/Tropical Storm Irene. ConocoPhillips (COP) on Monday told the U.S. National Response Center the restart process could cause emissions that would be routed to the plant's safety flare system. Copyright (c) 2011 Dow Jones & Company, Inc.

Obama Plans Jobs Speech to Congress Next Week - Voice of America - September 3,2011

USA RSS Feed er August 31, 2011 Obama Plans Jobs Speech to Congress Next Week VOA News US President Barack Obama delivers his State of the Union address on Capitol Hill in Washington, DC, January 25, 2011 (file photo) . U.S. President Barack Obama says he will announce plans to promote jobs and economic growth in a speech to Congress on September 8. In a sign of continued fraught relations between the two political parties, the date for the speech was only settled Wednesday after a public disagreement with Speaker John Boehner, the top Republican in the House of Representatives. Mr. Obama, a Democrat, had asked congressional leaders to call a joint session of the Senate and House of Representatives for the speech on September 7. But shortly after his request was made public, House Speaker Boehner responded asking Mr. Obama to postpone his remarks by a day. Boehner said it would be logistically difficult to approve the joint session of Congress in time for a speech next Wednesday after a recess. Mr. Obama agreed to Boehner's proposal a few hours later, saying he is focused on "the urgent need" to create jobs and economic growth, and he looks forward to challenging congressional leaders to "start focusing 100% of their attention" on helping the American people. The statement also said that Speaker Boehner had been consulted about the speech timing before the September 7 date was announced. Mr. Obama's proposed time would have coincided with a scheduled televised debate among Republican presidential contenders. The September 8 time slot means Mr. Obama will be speaking at the same time as the nationally-televised first official game of the American football season. The president says he will announce in the speech what he called "bipartisan proposals" that Congress could immediately enact. The sluggish American economy is still reeling from the global economic downturn of 2008 and 2009, with about 14 million U.S. workers unemployed and millions more working part-time or in jobs they consider beneath their skill levels. Mr. Obama's re-election chances next year may largely hinge on the nation's economic fortunes. He said lawmakers in Washington need to "put aside politics and start making decisions based on what is best for our country" and not political considerations. News accounts say Mr. Obama may propose tax credits for companies that hire more workers, and possibly new spending for repairing schools and other public infrastructure. His plans are likely, however, to encounter stiff opposition from Republicans who oppose more government spending. They say too many federal regulations are hindering U.S. job growth and are proposing legislation to limit the scope of the restrictions. Republican candidates seeking to oust Mr. Obama from the White House say he has mismanaged the American economy, the world's largest.

China Export Article - Source VOA news - September 5,2011

The head of the World Bank is urging China to do more to develop its domestic market and put less reliance on investment and exports. Ending a visit to Beijing Monday, Robert Zoellick said it is “hard to see” how export-led growth will help China over the next 10 years. Bolstering the domestic demand requires reforms like having markets rather than the government setting resource prices and spending more on education and social services. Developed nations have been important markets for China’s surging exports, but faltering economic growth is likely to hurt sales in those nations. Zoellick also said inflation is China’s most important economic problem in the short-term.

Why is Good Customer Service Vital? Source -Customer Service Point -September 2,2011

Why is Good Customer Service Vital? It's simply because customers are turning their backs to businesses that do not deliver value. And good customer service adds value! There's no way around it. No shortcuts. Customers demand value for money, or they are out of the door. Usually, forever! And if that customer feels bad about how he or she has been treated, she will tell her friends about it. Or even worse, drop a note in a user group or other forum that is heavily trafficked. Before you know it, you're out of business! On the other hand, if you deliver legendary customer support, this same mechanism could work really well for you. In the meantime, you're converting ordinary customers into lifetime customers, just by delivering extraordinary service. We want to help you put your business in the league of extraordinary customer service providers. The purpose of this site is to give you loads of information and tools to achieve that goal, as well as spreading the word on great service! We've done our best to put our 15+ years experience in support down in these pages. Share our passion for customers and excellent service, and join us on this fascinating journey towards customer delight. .