Alltop, all the top stories
June 26, 2008

Twilight Zone?

 

Just when you think your worst nightmares are over, oil jumps to over $140/gal. (Remember when we thought $100/gal was obscene?)

Now pundits are predicting $7/gal gasoline by 2010 with oil at $200/barrel. Americans will soon be paying the same price as Europeans!

So, park that second car, get out your bicycle or walk. Better for your health anyway.

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 7:53 pm | 

June 22, 2008

Saudi Arabia to Raise Production

 

For the highest production rate since 1981, the Saudi King Abdullah says the Saudis will increase daily oil production to 9.7 million barrels from 9 million barrels. The increase is supposed to take place in July.

Petroleum minister, Ali I. Al-Naimi, also said the government would invest in oil projects that would allow Saudi Arabia to produce 12.5 million barrels/day by the end of the year.

King Abdullah’s remarks came at the end of the Jeddah energy summit, where he also called for OPEC to set aside $1 billion for a strategy to ease the oil price crisis. He said $500 million should be given to developing nations to help them get the energy they need.

King Abdullah said there are “many factors that made oil prices high.” Along with increased demand, he also cited oil speculators and an increase in taxes in consumer nations.

US says lagging production, they say speculators are the source of the problem. You be the judge.

Filed under:Causes and Solutions,Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 12:27 pm | 

June 19, 2008

Blood Bank Uses Gas Promotion!

 

Gas promotions are ubiquitous. It is not just about cars. Business Week notes a rash of promotions including grocery stores and radio stations.

But the Red Cross? Sure enough.

Karen Kelly, senior director of marketing and communications for the American Red Cross, said the Northern Ohio Regional Red Cross has started holding a sweepstakes competition where, on Sept. 1, one lucky winner will get free gas for the entire year. “People say, ‘I donate blood because I want to,’” Kelly said. “But they also say, ‘If I win, that’s great.’”

Filed under:Fuel Price Trends | by OldProf @ 7:32 pm | 

June 17, 2008

Just How Much Will Gas Cost for That Road Trip?

 

The Chicago Tribune has a handy little gas “Gouge-o-meter” to help you out.

Just plug in your car’s vitals and press send! What could be easier.

Hint: Hold your nose while you do the calculations

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 10:35 am | 

June 13, 2008

Oil Companies Keep Their Tax Breaks

 

Earlier this week Senate Democrats tried to eliminated the $17 billion in oil co. tax breaks, and also add a windfall profits tax.

The result: No Go. The Republicans, in lock-step, blocked the attempt to bring the issue to a vote. It died on the Senate floor. (Who will clean up this mess, anyway?)

Missouri Democrat Claire McCaskill voted to kill them, the tax breaks that is.

“…if the choice is to do nothing, then I hope the people of this country rise up and scream like they’ve never screamed before,” she said on the Senate floor. “How…dare us do nothing? That is what they’re ready to vote on, saying, ‘We’re not going to let you proceed to do something about this problem.’ It take a lot of nerve, Mr. President, it takes a lot of nerve.”

“I’m from the Show-Me State,” [Kit]Bond [Missouri] said in a statement after the vote, “and you can’t show me a time when raising taxes on something lowered its price or increased its supply. With $4 a gallon gas, we need real solutions that open up supplies of energy here at home and give American families the relief they need.”

Lots of talk.

Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 6:42 pm |