Thu, May 15, 2008

Hybrids Making $ense

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Hybrids Making $ense

5-15-08 by dugan     Early adopters of the Prius and other gas-electric hybrids weren’t doing it for the money, since the extra cost would take five or more years to make up with gasoline savings. Not so now. At current gas prices, at least some models really are both cheaper and cleaner. For instance, […]

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Thu, May 15, 2008

Lights Out for Enron Loophole

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Lights Out for Enron Loophole

5-15-08 by dugan     The sweeping farm bill that passed the Senate today and is headed for President Bush’s desk is more pork than policy, but I’m still celebrating. OilWatchdog’s most-wanted bill to curb energy speculation was tucked into the farm legislation. The measure, now almost certain to become law, will close the so-called […]

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Thu, May 15, 2008

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Op-Ed: Big Oil & Water

Op-Ed: Big Oil & Water

The following Op-Ed Commentary by Consumer Watchdog’s John M. Simpson, was published in the San Francisco Chronicle on Thursday, May 15, 2008: They say oil and water don’t mix. Maybe that’s why Chevron is so tone-deaf in its dealings with a small California town that depends on the oil company for its water. Chevron, which […]

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Wed, May 14, 2008

Big Oil's '08 Bets

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Big Oil's '08 Bets

5-14-08 by dugan   The latest campaign finance reports, from OpenSecrets.org, show Sen. John McCain closing in on the defunct Rudy Giuliani as Big Oil’s bet in the presidential race. Oil money these days is as nasty as tobacco money, and all the candidates ought to be refusing it, though at least the last round […]

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Wed, May 14, 2008

Oil Supply Up, Price Down

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Oil Supply Up, Price Down

5-14-08 by dugan     I hope the nay-sayers who insist that stopping the flow of oil into the federal Strategic Petroleum Reserve won’t drop prices were watching today. On news that U.S. petroleum supplies went up 200,000 barrels, the price of oil dropped by up to $2.24 a barrel. So… If President Bush stopped […]

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Wed, May 14, 2008

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Squeezed At Both Ends

Squeezed At Both Ends

Squeezed At Both Ends — Independent Refiners Watch Profits Sink As Consumption Falls By Jad Mouawad, THE NEW YORK TIMES May 14, 2008 While drivers are facing sticker shock at the pump these days, here is a bigger shock: high prices are putting a strain on oil refiners. After last year’s stellar profits, American refiners […]

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Tue, May 13, 2008

Climate Heat on Exxon

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Climate Heat on Exxon

5-13-08 by dugan Oh, man, I wish I had a share of Exxon. The shareholder meeting May 30 is going to be a show. A group of big institutional investors, mostly public pension funds, has filed notice that it will formally campaign to oust board member Michael Boskin. The investors say he refused repetedly to […]

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Tue, May 13, 2008

Senate Success on Oil Reserve

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Senate Success on Oil Reserve

5-13-08 by dugan     What the Senate did today isn’t huge, and isn’t quite finished, but a 97-1 vote in favor of stopping White House oil purchases for the Strategic Petroleum Reserve is a landmark. The vote cracks the agenda-driven gridlock that has blocked effective Senate actions against the oil price crisis. It holds […]

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Tue, May 13, 2008

Gas-Tax Holiday from Hell

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Gas-Tax Holiday from Hell

5-13-08 by dugan     OilWatchdog has offered plenty of reasons that suspending the federal gasoline tax would end up as a bad joke on consumers and the economy. Here are some fresh ones, from Jonathan Alter at Newsweek–including carnage on potholed roads. Main points of his column:  Not one respectable economist supports the idea, […]

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Mon, May 12, 2008

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Tell a Lie Often Enough…

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Tell a Lie Often Enough…

5-12-08 by dugan It’s a flat-out lie when oil companies say they’re only making an "average" percentage of profit compared to other companies. Furthermore, journalists shouldn’t be taking the oil industry’s figures at face value. That’s the conclusion of a well-explained report in Nieman Watchdog on how oil companies get away with describing their profit […]

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