November 22, 2007
CRUDE oil rose above $US99 a barrel for the first time after a fire at an oil-sands plant in Canada raised concerns about supplies to US refineries.
New York futures rose to within US71¢ of $US100 a barrel after the blaze at a Royal Dutch Shell plant in Alberta cut its 155,000-barrel-a-day output by more than half.
“Now that we are so close to $100, we have to get there,” said Dariusz Kowalczyk, chief investment strategist with CFC Seymour in Hong Kong.
Crude oil for January delivery climbed as much as $US1.26, or 1.3%, to a record $US99.29 a barrel in after-hours electronic trading on the New York Mercantile Exchange. The contract climbed $US3.39, or 3.6%, to $US98.03 a barrel yesterday, the highest close since trading began in 1983.
“Nobody wants to sell,” said Tom Hartmann, commodity broker at Altavest Worldwide Trading in Mission Viejo, California.
Oil had “its own bullish factors but on top of that, with the weaker dollar, prices kind of have to go up”, he said.
The US dollar’s decline is also contributing to higher prices for oil and other commodities priced in US currency.
The US dollar was at $US1.4841 per euro yesterday after the day before touching the lowest since the 13-nation currency was launched in 1999. US Federal Reserve policy makers lowered their growth forecast for 2008 amid concern that the housing slump and credit market losses risked slowing growth in the world’s biggest economy.
“The financial pundits all interpreted that to mean the Fed might cut interest rates again in December and that would further weaken the dollar,” said Victor Shum, senior principal at consultants Purvin & Gertz in Singapore.
“Oil has become a hedge for investors and the weaker US dollar has contributed to the rise in gold and oil.”
BLOOMBERG
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
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