9-26-08 by dugan Here’s an alarming statistic that won’t show up in government economic reports for a few months: Diesel purchases at truck stops in August were down 7.8% from a year ago. Most of…
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Archive | Tag: price-spike
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Free gas cards for all of us!
9-25-08 by dugan If Californians wonder why there’s been no discussion of their pain at the gas pump in the state Legislature, it’s probably because legislators get free gas cards–and free cars. The AP story…
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Unhinged oil prices
9-22-08 by dugan Oil prices shot up by an all-time record $25 a barrel in one day because, um, because… uh, well, for no good reason. It’s all paper trading and has nothing to do…
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$5 gas and “drill now”
9-14-08 by dugan If Americans really want more $5 gasoline after the next hurricane, and more power for the oil lobby in Washington, the "drill now" campaign is the perfect vehicle. That connection hit me…
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Why oil’s down, gas is up
9-11-08 by dugan When a government thinks "regulation" is a dirty word, here’s what happens: The price of crude oil fell today to about $100 a barrel ($2.38 a gallon), yet gasoline spiked to a…
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Oil manipulation? We’re shocked.
9-04-08 by dugan For the last two years, the White House and its Commodity Futures Trading Commission have patted us all on the head and said "it’s only supply and demand" while the price of…
Press Release
Chevron: Drill Less, Profit More
NEWS RELEASE: Chevron Profits: Drill Less, Profit More Chevron Data Shows Industry Lag in Producing New Oil from U.S. Source — Lower Production Shows Failure of Investment, Not Lack of Oil, Says Watchdog Santa…
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BP Posts Record 2nd Qtr Profits
NEWS RELEASE: BP Profits: ‘Congratulations Are Not In Order,’ Says Consumer Watchdog New Quarterly Records Show Oil Companies ‘Spiting the Future For the Sake of Cash in Hand’ CONTACT: Judy Dugan, 310-392-0522 ext. 305, or…
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Traders Manipulated Oil Prices (!)
7-24-08 by dugan Hey, not my headline. It’s straight from the CNNMoney story on the government’s accusations against an oil trading scheme meant to "bully the market." The charge against Optiver Holdings isn’t…
Press Release
Conoco Kicks Off Oil ‘Profit Orgy’
NEWS RELEASE: ConocoPhillips Kicks Off a ‘Profit Orgy’ By Major Oil Companies 2nd Quarter Report Shows Industry Still Buying Its Own Stock, Not Investing Record Profits in New Oil or Renewables, Says Consumer Watchdog; Congress…
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Beggar with an ermine cup
The PR departments of the major oil companies are madly developing their spin for the yet-another-record 2nd quarter profits they’re about to report. What they’ll say: "Without these gigantic profits (including billions in taxpayer subsidies),…
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Bubble’s leaking. What next?
7-17-08 by dugan As the price of a barrel of crude oil dropped to under $130 today, down from its high of $145-plus a barrel, I picked this as quote ‘o the day: "We have…
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‘Hotrod’ defends ethanol’s MPG
7-15-08 by dugan I’ve long heard that a car with the engine correctly adjusted for ethanol can run as economically as a car running on gasoline. Yet AAA, which publishes daily gasoline and diesel prices…