Conoco’s Loss: Consumer Group Sees Trend of Major Oil Companies Waiting Out Recession, Not Investing for Recovery Corporate Cutbacks Now Likely to Generate Price Spikes Later As Economy Tries to Recover Santa Monica, CA —…
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Archive | Tag: record-prices
Blog Post
Oil profits: Watch the other hand
1-26-09 by dugan The major oil companies will be reporting their 4th quarter 2008 and annual profits this week, and here’s a safe prediction: They’ll lean on the drop in their 4th quarter profits as…
Blog Post
Anything to boost oil’s price
1-15-09 by dugan There are tanker ships loaded with cheap crude oil just floating around the oceans waiting for the price to go up, says a report today by Clifford Krauss of the New York…
News Clipping
Why Gas Rises While Oil Drops
Meltdown 101: Why Gas Prices Rise While Oil Drops By John Porretto, ASSOCIATED PRESS January 15, 2009 HOUSTON, TX — You may do a double-take as you pass your local gas station. Chances are, the…
Report
Energy market piracy
1/14/09 by dugan Here’s a truly watchable explanation of how speculative money took over energy markets in 2008 and helped ruin the world economy. Solutions are included, thanks to CBS 60 minutes and Consumer Watchdog’s…
Blog Post
Mini-Me speculative frenzy
1-2-09 by dugan Remember those crazy gyrations of crude oil prices last spring and summer? Price gyrations of more than 10% in a day for no economically rational reason, as crude oil marched to $145 a…
Blog Post
Fusion Soon, Chevy Volt When?
12-19-08 by dugan Dan Neil in the LA Times reports today that he got 52 mpg city/highway in a test drive of the production model of the Ford Fusion hybrid, in comfort. Too…
Blog Post
$1.60 gasoline, $4.50 heating oil
12-17-08 by dugan I heard recently from a friend in Maine who is freaking out: she’s paying $4.50 a gallon for her home heating oil, even as drivers pay well under $2.00 a gallon for…
Blog Post
One cheer for Exxon
Oil companies said, back when crude oil cost $145 a barrel, that exploration and construction costs were too high for them to invest much in drilling and refining. Exxon, for instance, spurned any project that…
Blog Post
About those oil markets
12-4-08 by dugan The price of crude oil is only slightly above $40 a barrel today, about $1.00 a gallon. That’s barely more than one-fourth of the price six months ago. What the slide proves…
Blog Post
Roller-coaster hurts both ways
11-25-08 by dugan There’s no doubt that the crash in oil prices has taken pressure off of consumers and government, even though record-high energy prices did some serious economic damage before the fall. It’s like…
Blog Post
Why’s gas so cheap? Or is it?
11-20-08 by dugan I’ve been asked a lot lately about why "gasoline is so cheap." Yet the question itself is a result of short memories. Gasoline is certainly a ton cheaper than in July,…
Blog Post
What Exxon owes us ‘sissies’
11-17-08 by dugan Sitting inside the wreckage of the rest of the U.S. economy, Exxon Corp. beams with fiscal health. It is protected by its insular, petroleum-only culture, as described in a long NY Times…