Archive | July, 2008
Press Release
Exxon: ‘Pumping Cash, Not Oil’
CONTACT: Judy Dugan
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 Record, But Hoards Less CONTACT: Judy Dugan, 310-392-0522 ext. 305, or cell 213-280-0175 July 31, 2008 Santa Monica, CA — [...]
Blog Post
Oil money’s new hero
Posted by Judy Dugan
31. July 2008
7-31-08 by dugan If anyone wonders who’d really benefit from opening up U.S. coastline and wilderness to oil drilling, follow the money. Sen. John McCain proposed just such open-ended drilling on public land June 15. Since then, he’s received $881,450 in direct donations from the oil and gas industry, 73% of his total contributions from [...]
Blog Post
Murder in the U.S. Senate
Posted by Judy Dugan
30. July 2008
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 cliff in the Senate, where 41 opponents can block any legislation favored by 59 of their colleagues. White House and [...]
Blog Post
Alaska: Big Oil in charge?
Posted by Judy Dugan
29. July 2008
7-29-08 by dugan Here’s another thread in the federal corruption case against Sen. Ted Stevens of Alaska. The company tied to Stevens, Alaska oilfield servicer VECO, also did a lot of political dirt in the state Legislature. Its top execs pleaded guilty last year to bribery and corruption charges. But was something bigger going on? [...]
Blog Post
Alaska, the U.S. oil-state
Posted by Judy Dugan
29. July 2008
7-29-08 by dugan Alaska being the closest thing in the U.S. to an oil nation, it didn’t take long to find a connection between newly indicted Sen. Ted Stevens and British-owned BP, a major driller on Alaska’s North Slope oilfields that reported record profits today. It’s pretty simple: VECO, the oil engineering company that allegedly [...]
Press Release
BP Posts Record 2nd Qtr Profits
CONTACT: Judy Dugan
29. July 2008
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 cell: 213-280-0175; or Tim Hamilton, 360-495-4941 July 29, 2008 Santa Monica, CA — BP, the third-largest of the major [...]
Blog Post
Sandbox-style energy standoff
Posted by Judy Dugan
28. July 2008
7-28-08 by dugan At first, the fight in the Senate over whether renewable energy tax credits should be extended for a few more years seemed like political Kabuki theater: Republican opponents in the Senate would hold up the bill with complaints about using "taxes" to fund it, then find a way to keep funding the [...]
Blog Post
Oil-crash crystal ball
Posted by Judy Dugan
28. July 2008
7-28-08 by dugan Here’s a crystal ball report: The top four oil companies–Exxon, Shell, BP and Chevron–will all report record quarterly profits this week, a result of oil prices driven to the stratosphere in speculative markets. But our friend "Insider" says the recent drop in crude oil prices, to about $125 a barrel, is nothing [...]
Blog Post
‘Fat, sloppy smooch’ to oil
Posted by Judy Dugan
25. July 2008
7-25-08 by dugan Today’s defeat in the Senate of a mild little bill to regulate wild speculative energy markets was a raw display of oil and financial industry power in Washington. So was the defeat of a House bill to release some of the most expensive oil in the federal Strategic Petroleum Reserve and immediately [...]
News Clipping
Demand Drop Lowers Gas Prices
25. July 2008
Gasoline Sheds 8¢ in a Week at State Pumps 50-Cent Slide Foreseen as Drop in Demand Deflates Crude Oil By Laura Stevens, ARKANSAS DEMOCRAT-GAZETTE July 25, 2008 LITTLE ROCK, AR — Gasoline prices have fallen nearly 10 cents a gallon in the past week as crude oil lost steam because of weak demand in a [...]
News Clipping
Pickens Plans Shift Away from Oil
25. July 2008
Pickens Pitches Plans to Shift U.S. Away from Oil Wind and Natural Gas Are Priorities on List By Dean Calbreath, SAN DIEGO UNION-TRIBUNE July 25, 2008 Texas billionaire T. Boone Pickens became one of the world’s richest people by drilling for petroleum. But these days, he’s spearheading a multimillion-dollar push to wean the nation from [...]
Blog Post
Traders Manipulated Oil Prices (!)
Posted by Judy Dugan
24. July 2008
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 a huge one, except for the apparent proof that participants were able to move the oil markets and profit from [...]
Blog Post
Nah, it’s just supply/demand
Posted by Judy Dugan
23. July 2008
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 oil trader, may have helped push the oil futures market down in recent days. But before that, the company’s frantic [...]
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- Wall Street Oil Speculators Hurt Families, U.S. Economy
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31. July 2008