Showing posts with label General Topics. Show all posts
How Are Oil Prices Determined?
By Kimberly Amadeo, About.com Guide
Commodity traders are responsible for oil prices by bidding on oil futures contracts. These contracts are basically agreements to buy or sell oil at a specific date in the future for an agreed-upon price. These futures contracts are executed on the floor of a commodity exchange by traders who are registered with the Commodities Futures Trading Commission. Commodities have been traded for more than 100 years, and have been regulated by the CFTC since the 1920s.
Commodities traders fall into two categories. Most are representatives of companies who actually use oil. They buy oil for delivery at a future date at the fixed price. That way, they know the price of the oil, can plan for it financially, and therefore reduce (or hedge) the risk to their corporations. Traders in the second category are actual speculators. Their only motive is to make money from changes in the price of oil.
What Factors Do Traders Use To Determine Oil Prices?
There are many factors that commodities traders look at when developing the bids that create oil prices:
- Current supply in terms of output, especially the production quota set by OPEC. If traders believe supply will decline, they bid the price up. If they believe supply will increase, they willing to pay as much for oil, and the price falls.
- Oil reserves, including what is available in U.S. refineries and what is stored at theStrategic Petroleum Reserves. These reserves can be accessed very easily, and can add to the oil supply if prices get too high. Saudi Arabia also has a large reserve capacity. If it promises to tap those reserves, traders allow oil prices to fall.
- Oil demand, particularly from the U.S. These estimates are provided monthly by the Energy Information Agency . Demand usually rises during the summer vacation driving season. To predict summer-time demand, forecasts for travel from AAA are used to determine potential gasoline use. During the winter, weather forecasts are used to determine potential home heating oil use.
The Effect of World Crises on the Price of Oil
Of course, potential world crises in oil-producing countries can also dramatically increase oil prices. That's usually because traders anticipate the crisis will limit supply. This happened in January 2012, after inspectors found more proof that Iran was closer to building nuclear weapons capabilities. The U.S. and European Union began financial sanctions, which escalated to Iran threatening to close the Straits of Hormuz. The U.S. responded with a promise to reopen the Strait with military force if necessary. The possibility of an Israeli strike was also a concern.
As a result, oil prices bounced around $95-$100 a barrel from November through January. In mid-February, oil broke above $100 a barrel and stayed there. Gas prices also went to $3.50 a gallon.
Forecasts were that gas would be at least $4.00 a gallon through the summer driving season. (Source: New York Times, Iran News; Energy Information Administration, Cushing WTI Spot Price)
World unrest also caused oil prices to rise in the spring of 2011. In March 2011, investors became concerned about unrest in Libya, Egypt and Tunisia in what became known as the Arab Spring. Oil prices rose above $100 a barrel in early March, reaching its peak of $113 a barrel in late April.
World unrest also caused oil prices to rise in the spring of 2011. In March 2011, investors became concerned about unrest in Libya, Egypt and Tunisia in what became known as the Arab Spring. Oil prices rose above $100 a barrel in early March, reaching its peak of $113 a barrel in late April.
The Arab Spring revolts lasted through the summer, and resulted in an overturn of dictators in those countries. At first, commodities traders were worried that the Arab Spring would disrupt oil supplies. However, as that didn't happen, the price of oil returned to below $100 a barrel by mid-June.
Oil prices also increased $10 a barrel in July 2006 when the Israel-Lebanon war raised fears of a potential threat of war with Iran. Oil rose from its target of $70 a barrel in May to record-high of $77 a barrel by late July.
Effect of Disasters on Oil Prices
Natural and man-made disasters can drive up oil prices if they are dramatic enough. Hurricane Katrina caused oil prices to rise $3 a barrel, and gas prices to reach $5 a gallon in 2005. Katrina affected 19% of the nation's oil production. It came on the heels of Hurricane Rita. Between the two, 113 offshore oil and gas platforms were destroyed, and 457 oil and gas pipelines were damaged.
In May 2011, the Mississippi River flooding caused gas prices to rise to $3.98 a gallon. Traders were concerned the flooding would damage oil refineries.
In May 2011, the Mississippi River flooding caused gas prices to rise to $3.98 a gallon. Traders were concerned the flooding would damage oil refineries.
On the other hand, the Exxon-Valdez oil spill did not cause oil prices to rise. One reason was because oil prices in 1989 were only around $20 a barrel. The other was that only 250,000 barrels were spilled. Although this had a devastating impact on the Alaskan coastline, it didn't really threaten world supply.
The BP oil spill spewed more than 18 times the oil than did the Exxon Valdez. Yet, oil and gas prices barely budged as a result. Why? For one thing, global demand was down thanks to a slow recovery from the 2008 financial crisis and recession. Second, even though 174 million gallons of oil was spilled, it was over a long period of time, and it wasn't a large percentage of total oil used by the U.S. In fact, it was only about 9 days worth of oil. The U.S. consumed 6.99 billion barrels in 2010, according to the U.S. Energy Information Administration. That's a little over 19 million barrels per day.
(Article updated February 22, 2012)
Source : about.com
Teachers Must Encourage Student Creativity
By: Laura Preble
In today's Common Core dominated, test-taking, data-driven schools, creativity is often like everybody’s favorite eccentric aunt: we all say we love her just the way she is, but nobody wants to actually be responsible for taking care of and nurturing her. And she’s really inconvenient, immeasurable, erratic, irascible, and unpredictable.
In today's Common Core dominated, test-taking, data-driven schools, creativity is often like everybody’s favorite eccentric aunt: we all say we love her just the way she is, but nobody wants to actually be responsible for taking care of and nurturing her. And she’s really inconvenient, immeasurable, erratic, irascible, and unpredictable. Valentine Traditions
Valentine Traditions
Hundreds of years ago in England, many children dressed up as adults on Valentine's Day. They went singing from home to home. One verse they sang was:
Good morning to you, valentine;
Curl your locks as I do mine ---
Two before and three behind.
Good morning to you, valentine.
Curl your locks as I do mine ---
Two before and three behind.
Good morning to you, valentine.
In Wales wooden love spoons were carved and given as gifts on February 14th. Hearts, keys and keyholes were favourite decorations on the spoons. The decoration meant, "You unlock my heart!"
In the Middle Ages, young men and women drew names from a bowl to see who their valentines would be. They would wear these names on their sleeves for one week. To wear your heart on your sleeve now means that it is easy for other people to know how you are feeling.
In some countries, a young woman may receive a gift of clothing from a young man. If she keeps the gift, it means she will marry him.
Some people used to believe that if a woman saw a robin flying overhead on Valentine's Day, it meant she would marry a sailor. If she saw a sparrow, she would marry a poor man and be very happy. If she saw a goldfinch, she would marry a millionaire.
A love seat is a wide chair. It was first made to seat one woman and her wide dress. Later, the love seat or courting seat had two sections, often in an S-shape. In this way, a couple could sit together -- but not too closely!
Think of five or six names of boys or girls you might marry, As you twist the stem of an apple, recite the names until the stem comes off. You will marry the person whose name you were saying when the stem fell off.
Pick a dandelion that has gone to seed. Take a deep breath and blow the seeds into the wind. Count the seeds that remain on the stem. That is the number of children you will have.
If you cut an apple in half and count how many seeds are inside, you will also know how many children you will have.
Valentines Day.....
Valentine's Day started in the time of.......
Valentine's Day started in the time of the Roman Empire. In ancient Rome, February 14th was a holiday to honour Juno. Juno was the Queen of the Roman Gods and Goddesses. The Romans also knew her as the Goddess of women and marriage. The following day, February 15th, began the Feast of Lupercalia.
The lives of young boys and girls were strictly separate. However, one of the customs of the young people was name drawing. On the eve of the festival of Lupercalia the names of Roman girls were written on slips of paper and placed into jars. Each young man would draw a girl's name from the jar and would then be partners for the duration of the festival with the girl whom he chose. Sometimes the pairing of the children lasted an entire year, and often, they would fall in love and would later marry.
Under the rule of Emperor Claudius II Rome was involved in many bloody and unpopular campaigns. Claudius the Cruel was having a difficult time getting soldiers to join his military leagues. He believed that the reason was that roman men did not want to leave their loves or families. As a result, Claudius cancelled all marriages and engagements in Rome. The good Saint Valentine was a priest at Rome in the days of Claudius II. He and Saint Marius aided the Christian martyrs and secretly married couples, and for this kind deed Saint Valentine was apprehended and dragged before the Prefect of Rome, who condemned him to be beaten to death with clubs and to have his head cut off. He suffered martyrdom on the 14th day of February, about the year 270. At that time it was the custom in Rome, a very ancient custom, indeed, to celebrate in the month of February the Lupercalia, feasts in honour of a heathen god. On these occasions, amidst a variety of pagan ceremonies, the names of young women were placed in a box, from which they were drawn by the men as chance directed.
The pastors of the early Christian Church in Rome endeavoured to do away with the pagan element in these feasts by substituting the names of saints for those of maidens. And as the Lupercalia began about the middle of February, the pastors appear to have chosen Saint Valentine's Day for the celebration of this new feaSt. So it seems that the custom of young men choosing maidens for valentines, or saints as patrons for the coming year, arose in this way.
The History of Valentine's day
Do u know why the day February 14th is Considered as
Valentine's Day
Lets know it today....
Let me introduce myself. My name is Valentine. I lived in Rome during the third century. That was long, long ago! At that time, Rome was ruled by an emperor named Claudius. I didn't like Emperor Claudius, and I wasn't the only one! A lot of people shared my feelings.
Claudius wanted to have a big army. He expected men to volunteer to join. Many men just did not want to fight in wars. They did not want to leave their wives and families. As you might have guessed, not many men signed up. This made Claudius furious. So what happened? He had a crazy idea. He thought that if men were not married, they would not mind joining the army. So Claudius decided not to allow any more marriages. Young people thought his new law was cruel. I thought it was preposterous! I certainly wasn't going to support that law!
Did I mention that I was a priest? One of my favourite activities was to marry couples. Even after Emperor Claudius passed his law, I kept on performing marriage ceremonies -- secretly, of course. It was really quite exciting. Imagine a small candlelit room with only the bride and groom and myself. We would whisper the words of the ceremony, listening all the while for the steps of soldiers.
One night, we did hear footsteps. It was scary! Thank goodness the couple I was marrying escaped in time. I was caught. (Not quite as light on my feet as I used to be, I guess.) I was thrown in jail and told that my punishment was death.
I tried to stay cheerful. And do you know what? Wonderful things happened. Many young people came to the jail to visit me. They threw flowers and notes up to my window. They wanted me to know that they, too, believed in love.
One of these young people was the daughter of the prison guard. Her father allowed her to visit me in the cell. Sometimes we would sit and talk for hours. She helped me to keep my spirits up. She agreed that I did the right thing by ignoring the Emperor and going ahead with the secret marriages. On the day I was to die, I left my friend a little note thanking her for her friendship and loyalty. I signed it, "Love from your Valentine."
I believe that note started the custom of exchanging love messages on Valentine's Day. It was written on the day I died, February 14, 269 A.D. Now, every year on this day, people remember. But most importantly, they think about love and friendship. And when they think of Emperor Claudius, they remember how he tried to stand in the way of love, and they laugh -- because they know that love can't be beaten!
A Salute to Mahatma Gandhi
A Salute to Mahatma Gandhi
Mahatma Gandhiji was one of the cherished divine and great leader to be remembered and his entire life spread a message of truth, freedom and non-violence throughout the world. Gandhiji has been called as the ‘Father of Nation’, because it was he who won freedom for us. Gandhiji fought strong and hard with his weapons of Satya and Ahisma to win the independence of the Indian people. Gandhiji was a true man of simple living and high thinking. Gandhiji had solid faith in God, and he believes God and religion were indivisible. Gandhiji enthused the whole world through his peaceful and truthful compilation. He was to be honored as a great man of peace. May his soul rest in harmony! May the humanity follow his true wisdom!
Shall we follow him...
ஒரு கண்ணீர் கடிதம்...
ஒரு கண்ணீர் கடிதம்...
காஷ்மீர் முதல் குமரி வரை
அகிம்சை பேசியவருக்கு மிஞ்சியது என்னவோ
குமரிக்கரையில் ஒரு பிடி அஸ்தி தான்
என்னை மீட்க ஆடை துறந்தவனுக்கு
கோடானகோடி பேர்
தோள் கொடுக்க இருந்த போதும்
அவரை தொட்டது என்னவோ
கோட்சேவின் தோட்டா பரிசு மட்டுமே
சுதந்திரம் பெற்று தந்தது அவர் சாதனை அவர் சுவாசம் நிறுத்தியதே என் வரலாறு
என்பது தான் இங்கு வேதனை...
அன்றே சொன்னான்
நள்ளிரவில் பெற்றோம்
இன்னும் விடியவே இல்லை என்று....
இன்றும் அப்படித்தானே
அநீத இருள் சூழ்ந்திருக்கிறது
எனினும் பயணிக்கிறேன்
இளைய சமுதாயமே
உன் மீதுள்ள நம்பிக்கையில்
உன் மீதுள்ள நம்பிக்கையில்
ஒரு சுதந்திர விடியலை நோக்கி...
அன்புடன்,
இந்தியா
Environment & its Issues
Our Environment is our surrounding. This includes living and non-living things around us. The non-living components of environment are land, water and air. The living components are germs, plants, animals and people. All plants and animals adjust to the environment in which they are born and live. A charge in any component of the environment may cause discomfort and affect normal life. Any unfavorable change or degeneration in the environment is known as ‘Environmental Pollution. We need to protect our environment to live happily.
National Anthem Of India
Jana gaṇa mana adhināyaka jaya he
Bhārata bhāgya vidhātā
Pañjāba Sindhu Gujarāṭa Marāṭhā
Drāviḍa Utkala Vaṅga
Vindhya Himāchala Yamunā Gaṅgā
Ucchala jaladhi taraṅga
Tav śubha nāme jāge
Tav śubha āśiṣa māge
Gāhe taba jaya gāthā
Jana gaṇa maṅgala dāyaka jaya he
Bhārata bhāgya vidhāta
Jaya he, jaya he, jaya he
Jaya jaya jaya, jaya he!
Ace of The Playing Cards
The ace of spades is traditionally seen as the highest card in the deck of playing cards, although the actual value of the card varies from game to game. In popular myth and folklore, it is also known as the "death card". The history of the ace of spades is closely tied to the history of playing cards in general, though there are a few unique aspects of the ace card itself. In the past, cards were typically numbered from ace to 10, with the court cards being the highest cards in each suit. Ace cards, however, were eventually promoted over the court cards, and different suits have been used in various regions, with the spade suit developing in French decks. The ace of spades is often associated with death and is commonly referred to as the “death card.”
Indian Navy Celebration
The Navy Day celebrations are planned to be conducted in different commands of Indian Navy across the country on 04 Dec 11. It was on this day in 1971 that the Missile Boats of the Indian Navy carried out a deadly attack on Karachi Harbour during the Indo-Pak War. A curtain raiser for the activities planned for Navy Day by Eastern Naval Command on 04 Dec 11 at Visakhapatnam are given below. Three functions are scheduled on Sunday, 04 Dec 11, to commemorate the Event. The first activity is the Wreath Laying Ceremony at the War Memorial on the RK Beach by Vice Admiral Anil Chopra, Flag Officer Commanding-in-Chief, Eastern Naval Command.
BEST OF 2O11
The Night Circus by Erin Morgenstern is a debut novel that carried a lot of buzz.The movie rights were sold to the makers of the Twilightfilms before the book was even released. Morgenstern's story of two competing magicians was one of my favorite books of the year, and would be especially good for people who like some fantasy an romance in their novels.
Climatic conditions and its changes
The word climate refers to the weather variation of any specific area over a period of time. The countries of world can be divided into different climatic zones based on factors such as location, surface relief, surface wind and upper air circulation. A vast country does not fit into any one zone. Situated roughly between 8° N and 37° N Latitude, it occupies a large area of South Asia. It can be divided mainly into four climatic zones namely Alpine, Subtropical, Tropical and Arid.
Bird Facts
1. Birds do not have teeth.2. The largest of all birds is the ostrich.
3. There are 9,865 species of birds alive today, according to the IUCN.4. Pigeons can reach speeds up to 100 mph.
5. Swifts, doves, falcons, and sandpipers can approach 200 mph.
5. Penguins, ostriches, and dodo birds are all birds that do not fly.
6. Larger parrots such as the macaws and cockatoos live more than 75 years.
7. Parrots cannot eat chocolate because it is poisonous to their body.
8. A grown pigeon has nearly 10,000 feathers.
Animal Facts
1. The average life expectancy of an ant is 45-60 days.2. Starfish don't have brains.
3. When a giraffe's baby is born, it falls from a height of six feet, normally without being hurt.
3. When a giraffe's baby is born, it falls from a height of six feet, normally without being hurt.
4. There are no penguins in the North Pole.
5. The poison-arrow frog has enough poison to kill about 2,200 people!
6. A cat can jump FIVE TIMES as high as it is tall!
7. Cats lose almost as much fluid in the saliva while grooming themselves as they do through urination!
7. Cats lose almost as much fluid in the saliva while grooming themselves as they do through urination!
8. Tiger Can Spend up to eighteen hours sleeping
2011 TOP 10 ST[C]ARS
2011 Jeep Grand Cherokee
OFF-ROAD ABILITY
No brand is more deeply rooted in off-road adventure than Jeep. The new Grand Cherokee stands at the top of the lineup with not only a much more luxurious and roomy interior but also more power and, yes, enhanced on- and off-road chops. The new 3.6-liter Pentastar V6 churns out 290 hp and 260 lb ft of torque, delivers 16 mpg city and 23 mpg highway and will tow 5000 pounds. But we’d choose the 360-hp V8 for its muscle-car hustle—and take the modest fuel-economy hit. For the first time, the unibody Jeep uses a four-wheel independent suspension for enhanced steering and suspension precision. Opt for the Quadra-Lift air suspension, and the Jeep will provide five distinct suspension-height levels, with up to an impressive 10.7 inches of ground clearance. During a snow-covered sortie in Moab, Utah, the Jeep rocked and rolled its way over the worst obstacles, taking the most challenging lines without so much as a whimper. Best of all, the Grand Cherokee can lower itself back down and provide a pillow-soft luxury-car ride on the way home from the trailhead.
THE Rs 100/- COIN
100 rupee coin was issued by the Union government to commemorate the completion of 150 years by the Indian Railways. ''This marks the first instance of the Indian Railways having been afforded a chance to be part of India's minting history,'' informs a senior official of the railway ministry. While the hundred-rupee coin will be available as a collector's item, a million two-rupee coins, bearing the Indian Railway's mascot 'Bholu' on them, will be released simultaneously for the purpose of circulation.
Subscribe to:
Posts
(
Atom
)
