8-19-08 by dugan Here in Vegas, the temperature outside is low 100s, but I can crank the hotel room down to 60 degrees–true energy-sucking extravagance. But the cabbies and doormen, when I ask how to…
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Archive | Tag: record-prices
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Corn, memory, energy policy
8-8-08 by dugan So what’s the price of corn these days? A little above $5.00 a bushel. It’s down about 28%, even more than the 21% drop in the price of crude oil (from over…
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Fever breaking?
8-6-08 by dugan The drop in the price of oil, now at under $119, feels like a fever breaking. Iran’s saber-rattling, Nigerian gangs, Chinese demand, the weak dollar — all still exist, but as the…
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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Exxon: ‘Pumping Cash, Not Oil’
NEWS RELEASE: Exxon: ‘Pumping Cash, Not Oil’ Exxon’s ‘Biggest Profit in the World’ Is Actually Bigger; $8 Billion in Unproductive Share Buybacks Should be Counted, Says Group Shell, No. 2 Oil Co., Also Hits New…
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Murder in the U.S. Senate
7-30-08 by dugan The noise, hearings and promises in Congress about oil prices and energy relief are adding up to precisely zero result. Even the most modest, targeted bills are falling off the…
Press Release
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…
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Nah, it’s just supply/demand
7-23-08 by dugan The Wall Street Journal’s Brian Baskin today nails down both ends of a mystery in oil markets. The collapse of the little-known SemGroup, a pipeline and storage company as well as major…
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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60 mph? Not gonna happen
7-11-08 by dugan Rep. Jackie Speier of California will get points from greenies, and from me personally, for suggesting a 60 mph speed limit to cut national oil consumption. But for a lot of reasons…