Tag Archive | "supply"
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 California. Wait, isn’t price supposed to go down as supplies rise? This kind of speculator-driven disconnection of energy prices from [...]
Continue reading...Oil vs. Water: You Choose
Monday, December 28, 2009
If you had to choose between oil and water, one or the other, which would you choose? Living without oil or natural gas wouldn’t be fun, but you wouldn’t live at all without drinkable water. Which raises another question: Why is Exxon’s huge bet on natural gas drilling that may widely contaminate U.S. drinking water [...]
Continue reading...Hapless state gets it on climate
Tuesday, November 24, 2009
11-24-09 by dugan California doesn’t have many bright spots lately, what with a new $21 billion hole in its budget, more than 12% unemployment and a hapless state Legislature. But its prospects looked up today with a climate regulation proposal. It’s just a draft regulation, but because the underlying legislation (small PDF) is already [...]
Continue reading...Good-news rumor on CA refinery
Wednesday, October 21, 2009
10-21-08 by dugan With oil prices going through the roof again (near $82 a barrel today), the economy is deeply at risk. But oil refineries are looking like better investments, because gasoline prices will follow. A business publication in India is reporting that the largest Indian oil refiner is thinking of buying several refineries, [...]
Continue reading...A Yogi Berra moment in oil prices
Friday, October 16, 2009
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 a barrel. Here are the reasons given in various news stories: Dropping dollar, threats to Nigerian oil fields, a jump [...]
Continue reading...More oil, yes. Cheaper? Nope.
Thursday, September 3, 2009
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 a big find in the Gulf of Mexico this week, and oil markets responded by staying about as flat as [...]
Continue reading...Who’s killing the U.S. dollar?
Friday, August 28, 2009
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 one of many newsworthy punchlines of a strong new study that describes how government handed our energy markets over to [...]
Continue reading...Oil Price Spikes As Oil Profits Skid
Thursday, July 30, 2009
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 Dugan, July 30, 2009 Santa Monica, CA — On the same day that Exxon Mobil reported a second quarter profit [...]
Continue reading...Big about-face on speculation
Tuesday, July 28, 2009
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! The Obama administration, politely calling the report’s data "deeply flawed," said it will issue a revised report in September saying [...]
Continue reading...Walk the walk on speculation
Tuesday, July 7, 2009
Gary Gensler made news today by repeating some earlier pledges to get speculative oil markets under control. He has to act soon. If oil prices can hit $70 a barrel in this economy, they'll shoot back up to $140 a barrel, with $4-a-gallon gasoline, at the slightest encouragement.
Continue reading...Price roller coaster redux
Tuesday, June 9, 2009
06-09-09 by dugan Oil prices hitting close to $70 a barrel today are a speculator’s paradise. Their party, of course, is being paid for by consumers at the pump and struggling businesses. Gasoline is averaging $2.62 a gallon nationally and California is within a dime of $3.00 at the pump. Haven’t we been here before? [...]
Continue reading...Gas Up While Demand Down
Friday, May 22, 2009
‘Optimism’ Is Driving Energy Prices, Consumers Will Suffer The Memorial Day Hangover, Says Consumer Watchdog Oil, Gas Prices Rising Again At Record Clip For Holiday, Despite Oversupply, Low Demand, Says Group Washington, D.C. — The price of regular gasoline at the pump has shot up 30 cents a gallon nationally in the last month and [...]
Continue reading...Cheaper & Cleaner Fuel Solutions
Tuesday, May 19, 2009
As President Obama Orders Tough Tailpipe Regulations, Consumer Group Offers ‘A’ to ‘F’ Solutions for Cleaner and Cheaper Transportation Americans Want Green Solutions But Worry About Costs; Handbook Identifies Wasted Billions, Best Paths Washington, DC — As President Obama announces new national tailpipe emission standards modeled on California’s, Consumer Watchdog is releasing a report that [...]
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Wednesday, January 6, 2010
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