Tag Archive | "speculation"

Thanks Again, Goldman Sachs

Sunday, May 18, 2008

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Thanks Again, Goldman Sachs

8-18-08 by dugan Just as the White House grudgingly agreed to stop buying record-priced oil for the federal Strategic Petroleum Reserve and Saudi Arabia grudgingly agreed to put 300,000 more barrels a day of oil into the market, the investment bank Goldman Sachs made another self-serving prediction. It called Friday for $141-a-barrel oil for the […]

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Bush Forced to Cap Oil Reserve

Friday, May 16, 2008

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Bush Forced to Cap Oil Reserve

White House Forced to Cap Oil Reserve; Should Embolden Congress to Push for More To Drop Energy Prices Consumer Watchdog Calls for Sales from Reserve, Warning to Refineries, Swift Action on Oil Trading Curbs Judy Dugan, 213-280-0175 (cell); or John M. Simpson, 310-392-0522, x317   Santa Monica, CA — The Energy Department’s announcement that it […]

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Lights Out for Enron Loophole

Thursday, May 15, 2008

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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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Senate Success on Oil Reserve

Tuesday, May 13, 2008

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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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Tax Refunds Going to Gas Tanks

Monday, May 12, 2008

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Tax Refunds Going to Gas Tanks

Gas Up 11 Cents In Week, 34 Cents In a Month; Consumers’ Tax Incentive Going Straight to Gas Tanks White House Scorns Action, Congress in Gridlock as Soaring Prices Push Inflation, Motorists Cry ‘Uncle’   CONTACT: Judy Dugan, 310-392-0522, ext. 305, or cell: 213-280-0175 May 12, 2008 Santa Monica, CA — An 11-cent rise in […]

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Throw It At the Wall…

Friday, May 9, 2008

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Throw It At the Wall…

5-9-08 by dugan     …And See If It Sticks. That appears to be where government stands on quelling oil and gasoline prices. Congress is now proposing bucketsful of legislation and other actions in a pre-election panic. Some of it is on target and some is just pander, either populist or corporate. Let’s sort it […]

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Goldman Sachs' Self-Serving Prediction

Wednesday, May 7, 2008

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Goldman Sachs' Self-Serving Prediction

5-07-08 by dugan Oil prices are in Alice in Wonderland territory. Today’s new futures-market record, above $122 a barrel, occurred despite a substantial rise in both crude oil stocks and gasoline stocks in the U.S., as reported by the federal Energy Information Administration. In any vaguely normal market, both of those events would drive down […]

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Chevron’s Record 1st Qtr Profit

Friday, May 2, 2008

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Chevron’s Record 1st Qtr Profit

NEWS RELEASE: Chevron Rides Soaring Crude Oil Prices To Record Profit As Consumers Feel Squeeze At Pump CONTACT: John Simpson, 310-392-0522 x317, cell 310-292-1902; or Jamie Court x327 May 02, 2008 Santa Monica, CA — Chevron today posted record first-quarter profits of $5.17 billion while Californians struggled with soaring gas prices climbing over $4 a […]

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Exxon Posts More Record Profits

Thursday, May 1, 2008

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Exxon Posts More Record Profits

NEWS RELEASE May 01, 2008 ExxonMobil Profits Soar to Record On Speculative Oil Prices While Consumers and Economy Suffer Bush, Congress Avoid Real Solutions; Stance Is Inexcusable as Pump Price Soars, Says Consumer Group  CONTACT: John Simpson 310-392-0522, x317; cell 310-292-1902; or Jamie Court x327 Santa Monica, CA — Record first-quarter profits, up a staggering […]

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Shell & BP Record 1st Qtr Profits

Tuesday, April 29, 2008

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Shell & BP Record 1st Qtr Profits

NEWS RELEASE:  April 29, 2008 Speculative Oil Price Brings Roof-Busting Profits to Shell, BP at Cost of Squeezed Consumers, Suffering Economy Government’s ‘Business as Usual’ Stance Is Inexcusable as Pump Price Soars, Says Consumer Group CONTACT: Judy Dugan, cell: 213-280-0175; or John Simpson, 310-392-0522, ext. 317 Santa Monica, CA — The first-quarter record profits reported […]

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