02-01-10 by dugan The major oil companies all made less profit in 2009, but mostly because they could barely make a billion on refining and selling gasoline and diesel fuel, with demand running…
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Archive | Tag: speculation
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$3.00 a Gallon Now, $4.00 When?
01-11-10 by dugan Why be obsessed with the price of gasoline? Easy. High energy prices, including prices at the pump, will slow and even reverse economic recovery. Every 10-cent a gallon increase in the…
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Oil’s at $82; Where’s the Sheriff?
1-05-10 by dugan Supplies of oil and fuel in the U.S. are up, and so is the price of oil–it has surged to $82 dollar a barrel, pushing gasoline over $3.00 a gallon in…
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This ‘carbon trading’ thingie
11-04-09 by dugan Carbon trading. Oh, yawn. Too weird and complicated. MEGO. Leave me alone. But wait a minute: A new website, Carbon Watch, could change your mind about keeping up with cap and…
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Oil profits shouldn’t ‘recover’
10-30-09 by dugan Why is it that media reports on oil company profits only compare them to the previous quarter and the previous year? This week’s third-quarter profit reports for Exxon, Shell, Chevron and…
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A Yogi Berra moment in oil prices
10-16-09 by dugan Oil prices hit another record for the year today, at over $78 dollars for each 42-gallon barrel in futures markets. That’s well over double the late 2008 low of 32 dollars…
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Goldman Sachs’ oil-rig loophole
09-10-09 by dugan Who knew that investment giant Goldman Sachs was in the oil business? I’m picturing top execs earning their tens-of-millions bonuses in hard hats and oil-streaked yellow overalls. The news is part…
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More oil, yes. Cheaper? Nope.
9-3-09 by dugan If an oil giant finds a "giant" oil discovery, do oil prices respond with a sharp drop? Nope, because oil prices aren’t following anything except the stock market. BP trumpeted…
Report
Who’s killing the U.S. dollar?
08-28-09 by dugan Did you hear the one about how the Bush administration used the wrong calculations last year when it declared that it wasn’t financial speculation causing the huge oil spike price? It’s…
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Economic recovery vs. oil
08-22-09 by dugan If a few slightly cheerful sentences from Fed Chairman Ben Bernanke can spike the price of oil to a record for the year, the economy is in serious trouble. There’s no…
Press Release
Oil Price Spikes As Oil Profits Skid
Oil Price Spike, As Exxon And Others’ Profit Skids, Shows Potential For New Economy-Killing Energy Roller Coaster, Says Consumer Watchdog Profit Reports Offer More Proof That Oil Prices Are Disconnected From Actual Petroleum CONTACT: Judy…
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Big about-face on speculation
7-28-09 by dugan Last fall, the Bush administration said all that business with oil hitting $147 a barrel and gasoline at over $4.00 a gallon was just supply and demand at work. Today–big oops!…
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Goldman Sachs’ oil revival
7-13-09 by dugan Investment bank Goldman Sachs is about to report an eye-popping profit increase, leaving the rest of the economy in the dust. That should remind us of Goldman’s key role in the energy-price…