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Keyword: gas

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  • Terence Corcoran: The Canadian economy: Nobody saw it coming

    01/29/2015 9:09:37 AM PST · by george76 · 23 replies
    Financial Post ^ | January 28, 2015 | | Terence Corcoran
    Sometimes it looks like the Canadian economy is unraveling like a giant surprise package right in the face of economists and the Bank of Canada. We’ve got big data revisions, shock bank rate cuts, a falling Canadian dollar. Through it all, nobody saw it coming. They didn’t see a thing. Statistics Canada’s labour force data are notoriously wonky and revision prone. Still, Wednesday’s revamp wiped out 50,000 jobs that economists had assumed had been created during 2014. In an economy with almost 20 million employed, the revisions are small, but they cast doubt on the state of the economy and...
  • Atlantic Offshore Oil and Gas Exploration May Soon Be a Reality

    01/27/2015 2:52:02 PM PST · by ThethoughtsofGreg
    American Legislator ^ | 1-27-15 | John Eick
    Big news today out of the Interior Department: much of the Atlantic coastline from Virginia to South Carolina will soon be opened up for oil and natural gas drilling. In 2010, Interior proposed opening parts of the Virginia coast to drilling, but pulled back after the Deepwater Horizon incident in the Gulf of Mexico. At the recent States and Nation Policy Summit this past December, ALEC’s Energy, Environment and Agriculture Task Force adopted a resolution calling upon the Obama Administration to expand access to additional offshore resources in its 2017-2022 Outer Continental Shelf (OCS) oil and natural gas leasing program...
  • Foreign Firm Funding U.S. Green Groups Tied to State-Owned Russian Oil Company

    01/27/2015 7:59:35 AM PST · by george76 · 29 replies
    Washington Free Beacon ^ | January 27, 2015 | Lachlan Markay
    Executives at a Bermudan firm funneling money to U.S. environmentalists run investment funds with Russian tycoons. A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking environmentalist groups in the United States is run by executives with deep ties to Russian oil interests and offshore money laundering schemes involving members of President Vladimir Putin’s inner circle. One of those executives, Nicholas Hoskins, is a director at a hedge fund management firm that has invested heavily in Russian oil and gas. He is also senior counsel at the Bermudan law firm Wakefield Quin and the vice president...
  • Man sues Walmart over gas can explosion (Darwin award)

    01/26/2015 8:44:56 PM PST · by aimhigh · 55 replies
    KOIN.com ^ | 02/25/2015 | AP
    The Register-Guard reports Daniel Rowlett is seeking $13 million. He says Walmart sold him a plastic can produced by Blitz USA that exploded as he poured fuel into a burn barrel in October 2013. He suffered burns over nearly half his body.
  • Falling Gas Tax Revenue Has California Lawmakers Considering Mileage Tax Plan

    01/26/2015 10:47:33 AM PST · by C19fan · 64 replies
    CBS SF Bay Area ^ | January 25, 2015 | Staff
    With an increase in electric and hybrid vehicles along with better fuel-efficient vehicles, changing Bay Area drivers habit are posing a serious problem for state coffers. As motorists use less and less gas, gas tax revenues to pay for state highways, roads and bridges shrink. Meanwhile, as gas prices fall, so does the sales tax generated by fuel sales. In California, among the taxes collected on fuel is a 2.25% sales tax on gasoline and a 9.67 percent tax on diesel.
  • Trio faces sentencing for chemical weapons cache

    01/07/2004 2:02:18 PM PST · by Dog Gone · 5 replies · 118+ views
    Associated Press ^ | January 7, 2004
    TYLER - Three people face sentencing as early as next month for their involvement in the stockpiling of chemical weapons in East Texas, which some authorities believe may have been part of a domestic terrorism plot. William Krar, 62, of Noonday, pleaded guilty in November to one count of possessing a dangerous chemical weapon after investigators discovered the components needed to make lethal cyanide gas at a storage facility he rented with his common-law wife, Judith Bruey. Bruey, 54, pleaded guilty to conspiracy to possess illegal weapons. Edward Feltus, 56, of New Jersey, has pleaded guilty to aiding and abetting...
  • Environmental Groups Seeking More Protection For Sage Grouse ( CO & Utah )

    01/20/2015 5:15:34 PM PST · by george76 · 9 replies
    CBS Denver ^ | January 20, 2015 | Donna Bryson
    Two environmentalist groups filed suit Tuesday seeking stronger protection for a bird found only in Colorado and Utah ... The Center for Biological Diversity and the Western Watersheds Project said in court papers that the U.S. Fish and Wildlife Service should go back and produce an “adequate finding” on the status of the Gunnison sage grouse ... The threatened designation could result in restrictions on oil and gas drilling, agriculture, recreational and other land uses. ... both camps will be watching litigation closely, in part to see how it might influence policy on the more common greater sage grouse. The...
  • Threatened bird showing up at higher elevations [ Colorado: yellow-billed cuckoo ]

    01/20/2015 6:54:00 AM PST · by george76 · 31 replies
    Grand Junction Media ^ | January 19, 2015 | Dennis Webb
    Expert says western yellow-billed cuckoo may be more prevalent than first thought. Paonia ornithologist Jason Beason likes to say that there are a lot of cuckoos out there. The line is good for laughs at presentations like the talks he gave in the Roaring Fork Valley last week, and it accurately reflects the fact that dozens of species of cuckoos populate the Earth in both the Old and New Worlds. These include birds people might not immediately think of as being cuckoos, such as the greater roadrunner in the southwestern United States. But in the case of the cuckoo of...
  • The myth of the methane menace

    01/19/2015 8:58:15 PM PST · by Tolerance Sucks Rocks · 30 replies
    The Washington Times ^ | January 18, 2015 | Stephen Moore
    Last week the Environmental Protection Agency (EPA) announced major new regulations on the emissions of methane into the air from oil and gas production. It calls methane a “potent” pollutant and its new rules would require a 45 percent reduction by 2025 from 2012 levels. Most Americans support these new rules, according to polling from environmental groups. This isn’t surprising. Methane sounds like a dirty and dangerous pollutant and even deadly if leaked into water or the air. However, methane is just another term for the main component of natural gas. Drillers have a powerful motive to stop leakage on...
  • Obama Unleashes EPA to Kill American Jobs

    01/17/2015 9:28:44 AM PST · by george76 · 13 replies
    Radix News ^ | January 16, 2015 | David Limbaugh
    I am guessing you don’t know one of the major things resident Obama was doing while snubbing France and world leaders who convened in Paris to express solidarity in the civilized world’s war against radical Islamic terrorism. I assure you it was something close to his heart — as opposed to fighting Islamic jihad. It was something that will thrill the anti-business, anti-energy extreme environmentalists but will not warm the hearts of American businesses and energy producers, and it is not good news for America’s currently overhyped economy. Yes, you heard me right; despite all the faux euphoria projected by...
  • Price of Electricity Hit Record High in U.S. in 2014

    01/16/2015 3:00:06 PM PST · by george76 · 43 replies
    CNS News ^ | January 16, 2015 | Terence P. Jeffrey
    Even as gasoline prices plummeted and the overall energy price index calculated by the Bureau of Labor Statistics declined, electricity prices bucked the trend in the United States in 2014. Data released today by the BLS indicates that the electricity price indexes hit all-time highs for the month of December and for the year. 2014 was the most-expensive year ever for electricity in the United States. The annual price index for electricity, published by BLS today, was 208.020. That was up from 200.750 in 2013. ... The average price for a kilowatt hour of electricity in the United States was...
  • Enjoying cheaper gas? Don’t worry, EPA is about to cause it to go up again

    01/15/2015 8:39:14 PM PST · by SeekAndFind · 28 replies
    Hotair ^ | 01/15/2015 | Bruce McQuain
    Yes friends, never let it be said that this administration isn’t beholden to special interests to the detriment of the middle class.The oil shale boom has helped create a surplus of oil that has entered the market and driven prices down to under $2 a gallon. It is an economic boon to hard pressed families and businesses who use a lot of fuel. It is also a testament to how well markets work.And that’s why government is about to intrude in that market and jack the prices back up. This time under guise of your out-of-control EPA: In spite...
  • Russia Cuts Off Ukrainin Gas Supply

    01/15/2015 5:36:17 AM PST · by yldstrk · 22 replies
    Peak Oil News ^ | January 14, 2015 | blog
    Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these “transit risks for European consumers in the territory of Ukraine,” Gazprom cut gas exports to Europe by 60%, plunging the continent into an energy crisis “within hours.” Perhaps explaining the explosion higher in NatGas prices (and oil) today, gas companies in Ukraine confirmed that Russia had cut off supply; and six countries reported a complete shut-off of Russian gas. The EU raged that...
  • Obama targets oil and gas industry, demands massive reduction in methane emissions

    01/14/2015 10:41:52 AM PST · by TigerClaws · 19 replies
    Taking direct aim at the oil-and-gas industry, President Obama on Wednesday put forth long-awaited regulations on methane emissions, setting an ambitious goal of reducing those emissions by 45 percent over the next decade and again drawing the ire of many in the energy industry. The move comes just days before the State of the Union address and underscores that, in the final two years of presidency, Mr. Obama is looking to cement his legacy on climate-change and environmental issues. Read more: http://www.washingtontimes.com/news/2015/jan/14/obama-hits-oil-and-gas-industry-demands-massive-re/#ixzz3Op4IqMql Follow us: @washtimes on Twitter
  • [Six+ years old story] Europe plunged into energy crisis as Russia cuts off gas supply via Ukraine

    01/14/2015 11:51:40 PM PST · by tcrlaf · 130 replies
    Daily Mail ^ | circa 2009 or before | Robert Lea
    Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated. This morning, gas companies in Ukraine said that Russia had completely cut off their supply. Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in. Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria...
  • Gazprom warns EU to link to Turkey pipeline or lose Russian gas

    01/14/2015 2:39:16 PM PST · by Jan_Sobieski · 13 replies
    Yahoo News ^ | 1/14/2015 | AFP
    Moscow (AFP) - Russia's Gazprom giant on Wednesday urged the European Union to link up to its planned energy pipeline to Turkey or lose the gas that now transits Ukraine. Gazprom chief Alexei Miller reminded the new European Commissioner for Energy Union, Maros Sefcovic that the South Stream project to deliver gas to Europe through Ukraine has been scrapped. Hence, "the Turkish Stream is the only route along which 63 billion cubic metres of Russian gas can be supplied, which at present transit Ukraine. There are no other options," he said...
  • Obama targets oil and gas industry, demands massive reduction in methane emissions

    01/14/2015 7:34:49 AM PST · by Jan_Sobieski · 55 replies
    The Washington Times ^ | 1/14/2015 | Ben Wolfgang
    Taking direct aim at the oil-and-gas industry, President Obama on Wednesday put forth long-awaited regulations on methane emissions, setting an ambitious goal of reducing those emissions by 45 percent over the next decade. The move comes just days before the State of the Union address and underscores that, in the final two years of presidency, Mr. Obama is looking to cement his legacy on climate-change and environmental issues...
  • Senate DFLers put transportation funding plan on table

    01/13/2015 5:14:03 AM PST · by TurboZamboni · 6 replies
    Pioneer Press | 1-12-15 | David Montgomery
    The Democratic-Farmer-Labor Party will present a unified front this year in favor of a transportation funding package, including about $1 billion of increased taxes and fees. Legislative DFL leaders unveiled a proposal Monday that dovetails closely with Gov. Mark Dayton's plan, along with that of advocacy group Move MN: almost $600 million per year in new gasoline taxes, plus $125 million in vehicle registration fees and hundreds of millions of dollars more for metro-area mass transit. The plan forestalls the possibility of a three-way fight among Dayton, the DFL majority in the Senate and House Republicans -- who oppose any...
  • Large-Scale US Withdrawal From Fallujah, Use Of Sarin Gas Speculated (jihadunspun.com, Canada)

    02/17/2005 12:26:09 AM PST · by Jet Jaguar · 39 replies · 2,451+ views
    jihadunspun.com, Canada ^ | Feb 16, 2005 | Omar Al-Faris et al
    A large number of US troops were observed leaving Fallujah on Tuesday, with speculation that the withdrawal was due to Sunday night's attack by Mujahideen who reportedly fired rockets loaded with Sarin gas at a nearby US base. Dozens of US vehicles loaded with American troops were seen leaving Fallujah on Tuesday morning, heading for the Iraqi capital of Baghdad. In a report filed at 4:25pm Mecca time Tuesday afternoon, the correspondent for Mafkarat al-Islam reported from International Highway 1, saying that hat he had witnessed more than 90 US vehicles including tanks, and armored vehicles, being transported on giant...
  • INTELLIGENCE: Why Iraq WMD Finds Were Kept Secret

    06/24/2006 11:17:55 AM PDT · by Wiz · 113 replies · 3,704+ views
    Strategy Page ^ | 2006 Jun 23 | Harold C. Hutchison
    June 23, 2006: The revelation that Coalition forces have discovered about 500 shells containing chemical weapons (mostly sarin nerve gas and mustard gas) since 2003, most of which are pre-1991 Gulf War vintage, leads to the question as to why the U.S. waited so long to reveal this. The U.S. government has taken a beating for supposed failures to find weapons of mass destruction in the press, and from political opponents. There have been some discoveries that have made the news, most notably an incident in May, 2004, when terrorists used a 155-millimeter shell loaded with sarin in an IED....
  • Gas tax narrative builds as lobbyists lick their chops

    01/12/2015 4:18:37 PM PST · by ash-housewares · 43 replies
    NBC ^ | 1/12/2015 | Javier E. David
    Gas prices are plunging across the country, a product of surging U.S. energy production that has put the country in the same company as Saudi Arabia and Russia. However, in a strange twist of fate, that same dynamic is bringing to the fore a topic once thought to be anathema, especially in a Republican-dominated Congress: higher gas taxes. The drop in fuel prices has occurred for a record 102 consecutive days, according to the AAA, putting more than $14 billion of disposable income in consumers' pockets. However, the federal gas tax has been lodged at 18.4 cents for more than...
  • Saudi Prince Says We’ll ‘Never’ See $100 Oil Barrels Again

    01/12/2015 8:56:02 AM PST · by 2ndDivisionVet · 62 replies
    Time Magazine ^ | January 12, 2015 | Laura Stampler
    "You better believe it is gonna go down more," Alwaleed bin Talal said.Saudi royal prince Alwaleed bin Talal says in a new interview that the days of $100-a-barrel oil are a thing of the past, as oil prices continue to drop around the globe. Asked by USA Today if prices, recently below $50 a barrel, would continue to plunge, Talal answered: “If supply stays where it is, and demand remains weak, you better believe it is gonna go down more. But if some supply is taken off the market, and there’s some growth in demand, prices may go up. But...
  • Crude Oil Is Crashing Again ($46.77)

    01/12/2015 5:47:20 AM PST · by blam · 50 replies
    BI ^ | 1-12-2015 | Myles Udland
    Myles UdlandJanuary 15, 2015Good morning! It is a new week and crude oil is making new lows.(snip)(snip)
  • Secretary Jewell Unveils Greater Sage Grouse Plan

    01/11/2015 5:15:40 PM PST · by george76 · 32 replies
    Washington, DC – Secretary of the Interior Sally Jewell today issued a Secretarial Order calling for a comprehensive science-based strategy to address the more frequent and intense wildfires that are damaging vital sagebrush landscapes and productive rangelands, particularly in the Great Basin region of Idaho, Utah, Nevada, Oregon and California. The strategy will begin to be implemented during the 2015 fire season. Goals include reducing the size, severity and cost of rangeland fires, addressing the spread of cheatgrass and other invasive species, and positioning wildland fire management resources for more effective rangeland fire response. “Targeted action is urgently needed to...
  • Dayton Slams "La-La Land" GOP Transportation Plan

    01/10/2015 6:31:32 AM PST · by Extremely Extreme Extremist · 10 replies
    KSTP.COM ^ | 09 JANUARY 2015 | KSTP.COM
    Governor Dayton wants to build billions of dollars worth of roads and bridges during the next 10 years, but he's not doing much bridge-building with House Republicans. At a news conference, he slammed their $750 million transportation plan that doesn't call for any new taxes. "The panel of experts I convened said there's a $6 billion shortfall over the next 10 years and their response yesterday was $200 million from the general fund and $550 million from la-la land," Dayton told reporters at a news conference Friday morning. Dayton also accused Republicans of not even wanting to solve the problem.
  • Will new Congress take on ethanol?

    01/09/2015 10:58:39 AM PST · by george76 · 37 replies
    Watchdog ^ | January 9, 2015 | Rob Nikolewski
    The fiscal impact of the ethanol mandate is huge — Michaels estimated it totals “billions, easily” in direct and indirect money — but it has come under attack by liberals as well as conservatives and appears to have lost some of its clout on Capitol Hill. For example, the Environmental Protection Agency — which administers the Renewable Fuel Standard — is considering a cut to the amount of ethanol blended into the nation’s gasoline supply. ... a growing number of environmentalists want the ethanol requirement eliminated, too. ... In 2007, Congress passed and President George W. Bush signed into law...
  • Why Oil Prices Are Headed Below $35 a Barrel

    01/09/2015 8:07:02 AM PST · by SeekAndFind · 57 replies
    Fiscal Times ^ | 01/09/2015 | BY ANTHONY MIRHAYDARI
    It's getting serious now: On Wednesday, West Texas Intermediate futures tested a low of $46.83 a barrel before rebounding. That's down nearly 57 percent from the summertime high of $107.68 and pushing toward the depths last seen during the 2008 financial crisis and recession that followed. Wholesale gasoline futures tested a low of $1.31 a barrel. The wipeout in energy prices has been covered on all angles in recent months — including my recent piece on the negative repercussions for the U.S. economy, corporate earnings, and energy independence. Now, the focus is increasingly turning to how bad the damage could...
  • Mark Dayton gas tax plan gets cool reception from business

    01/08/2015 8:47:44 AM PST · by TurboZamboni · 7 replies
    Pioneer Press ^ | 1-9-15 | David Montgomery
    Gov. Mark Dayton walked into unfriendly territory Wednesday to pitch his plan for a gas tax increase to fund transportation needs. Surrounded by business leaders at a Minnesota Chamber of Commerce dinner, Dayton reiterated his call to raise $6 billion over 10 years by applying the sales tax to gasoline and imposing a series of fee increases. But minutes before Dayton took the stage, a chamber leader repeated the position of the business group: Road work should be paid for without raising taxes and fees. "I know there are things about state government and my administration's policies that you don't...
  • Low Oil Prices Pave the Way for New Carbon Taxes

    01/07/2015 1:09:19 PM PST · by Enlightened1 · 22 replies
    CNBC ^ | 01/06/15 | Rob Garver
    When prominent members of both political parties talk about the possibility of taxing fossil fuels – you know something serious has shifted in U.S. politics. On Monday morning, former Treasury Secretary Lawrence Summers, a largely pro-business Democrat, published a column in The Washington Post calling for the imposition of a carbon tax.
  • Average Gas Prices Drop Below $2.00 per Gallon in Two States

    01/05/2015 6:31:56 AM PST · by Enlightened1 · 41 replies
    (WASHINGTON, December 29, 2014) Average gas prices in two states – Missouri ($1.93) and Oklahoma ($1.98) – have dropped below $2.00 per gallon for the first time since 2009. The national average has fallen 95 days in a row for a total of $1.06, and prices have plummeted $1.38 (nearly 40 percent) since the start of June. The national average price for regular unleaded gasoline is $2.29 per gallon, and motorists are saving 11 cents per gallon compared to one week ago, 49 cents compared to one month ago and $1.02 per gallon compared to this same date last year....
  • Oil Prices Hit Fresh 5-And-A-Half-Year Lows ($51.70 Bl)

    01/05/2015 3:53:53 AM PST · by blam · 29 replies
    BI - Reuters ^ | 1-5-2015 | Stefano Pozzebon and Reuters
    Stefano Pozzebon and Reuters January 5, 2015 U.S. crude and Brent futures dropped to fresh 5-1/2-year lows on Monday as worries about a surplus of global supplies amid weak demand continued to drag on oil markets. At 11.30am GMT (6.30am ET) Brent was trading at $55.35 a barrel, losing 2%. Previously, it temporally slipped as low as $55.16, its the lowest values since May 2009. Here is a chart of how it looked at 11.30am GMT (6.30am ET): Brent 5.1.15 11.30am Investing.com U.S. crude slid as low as $51.40 a barrel, also its lowest since May 2009, and at 11.35am...
  • Why Gas Feels Cheap—and Why It’s Not, Historically Speaking

    01/03/2015 10:08:58 AM PST · by Theoria · 18 replies
    WSJ ^ | 02 Jan 2015 | Jo Craven McGinty
    Recent Price Plunge Looks Good After Years of High Costs, but Fill-Ups Were Less Expensive From 1986-2003 U.S. gasoline prices are the lowest they’ve been in five years. And they feel even cheaper because they come on the heels of the highest gas prices consumers have paid in three decades.In 2012, the national annual average for a gallon of regular unleaded gas—the yardstick for gauging prices—hit a high of $3.77, capping a series of years in which the average exceeded $3 a gallon. Before that, the last time the average was so high was in the early 1980s, when, adjusted...
  • Pump price plunge hits 99 straight days

    01/02/2015 10:59:50 AM PST · by DaveMSmith · 38 replies
    The average price for a gallon of gas has dropped for 99 days in a row, with six states – Indiana, Kansas, Michigan, Ohio, Oklahoma and Missouri – having average prices under $2 for the first time since 2009, according to price surveys Friday. Prices have plummeted about 40 percent since the start of June. Put another way, the Auto Club estimates that Americans are saving $500 million -- per day, each day – compared to the high prices paid last spring, allowing that money to be spent with businesses other than oil companies or just kept in the savings...
  • Mark Dayton wants to limit tax increases to transportation funding

    12/31/2014 7:06:21 AM PST · by TurboZamboni · 6 replies
    Pioneer Press ^ | 12-31-14 | David Montgomery
    Minnesota's highway needs can't be met without more tax revenue, Gov. Mark Dayton said Tuesday -- setting him up for a possible clash with the new Republican majority in the House. Dayton is finalizing his 2016-17 budget proposal, which aims to raise what he says is the $6 billion Minnesota's roads need over the next 10 years. The plan calls for a 6.5 percent wholesale surtax on gasoline -- separate from the existing 28.5 cents-per-gallon tax already levied. That means the tax would bring in more money when gas prices increase. "Our transportation systems are getting worse," Dayton said. "Anybody...
  • a couple of pics that put the whole oil thing in perspective

    12/30/2014 2:18:11 PM PST · by RC one · 62 replies
    FreeRepublic | 12/30/14 | RCone
  • Ten Reasons Why Per-Mile Tolling Is a Better Highway User Fee than Fuel Taxes

    12/29/2014 3:44:05 PM PST · by TurboZamboni · 93 replies
    Reason ^ | 2-13-2014 | Robert Poole
    This policy brief focuses on the challenge of developing a viable, user-friendly, per-mile charging system to replace fuel taxes for the nation's major highways. In doing so, it outlines 10 reasons why per-mile tolling is a better highway user fee than fuel taxes. Reason 1: Per-mile tolling is a direct, rather than indirect, user fee. Motorists would pay for the amount of service they received; they would pay providers directly for providing that service; and they would know exactly how much they were paying and what they were getting for it. Reason 2: Per-mile tolling is a sustainable long-term funding...
  • Minnesota May Start Taxing Drivers

    12/29/2014 2:31:13 PM PST · by TurboZamboni · 47 replies
    SeeBS ^ | 12-25-14 | SeeBS
    MINNEAPOLIS (WCCO) — Gas prices are finally falling, but those savings might not last long.At least 18 states, including Minnesota, are considering taxing drivers based on distance. Gas prices aren’t the only reason for the idea, since newer cars get better gas mileage. Oregon has a pilot project that will start next year to test the idea. They’re having 5,000 volunteers pay 1.5 cents per mile instead of the 30-cents-per-gallon tax.An electronic device attached to their vehicle will report how far they drive in state.
  • Expert: $1.75 Gas Soon

    12/29/2014 12:16:32 PM PST · by central_va · 70 replies
    wrva ^ | 12/29/14 | Andy Doernen
    <p>Richmond, Va. (1140wrva.com) A local oil industry analyst says look for $1.75 gas soon. John Zehler says retailers are giving up more and more of their record profit margins, which he says are around 40 cents, as the competition heats up.</p>
  • Everything Is Awesome! Well, not everything. But America’s looking much better than you think.

    12/25/2014 8:57:19 PM PST · by 2ndDivisionVet · 67 replies
    Politico Magazine ^ | December 24, 2014 | Michael Grunwald
    ood news! The U.S. economy grew at a rollicking 5 percent rate in the third quarter. Oh, and it added 320,000 jobs in November, the best of its unprecedented 57 straight months of private-sector employment growth. Just in time for Christmas, the Dow just hit an all-time high and the uninsured rate is approaching an all-time low. Consumer confidence is soaring, inflation is low, gas prices are plunging, and the budget deficit is shrinking. You no longer hear much about the Ebola crisis that dominated the headlines in the fall, much less the border crisis that dominated the headlines over...
  • Merry Christmas from Texas to the World

    12/25/2014 12:24:13 AM PST · by Cincinatus' Wife · 26 replies
    The Hill ^ | December 25, 2014 | Ben Voth
    Texas has blessed the world with an incredible Christmas gift: plummeting oil prices. Both the production and the technology of fracking were substantially innovated and pioneered in the Lone Star state. The ramifications here at home and abroad are profound and incredible example of how innovation, property rights,and economic freedom trump the ugly agendas of statism. The gift of Texas oil is a gift that keeps on giving and stands in contrast to the lumps of coal dished out by the Federal government:...Gift 1:A true economic stimulus. The drop in oil prices from over $100 a barrel to less than...
  • Arab OPEC Sources Say Oil Will Be Back Above $70 By The End Of 2015

    12/23/2014 3:56:01 AM PST · by blam · 4 replies
    BI - Reuters ^ | 12-23-2014 | Rania El Gamal
    Rania El Gamal, ReutersDecember 23, 2014Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to ‎stabilize in the medium term. The delegates, some of which are from core Gulf OPEC producing countries, said they may not see - and some may not even welcome now - a return to $100 any time soon. Once deemed a “fair” price by many major producers, $100 a...
  • Many States Now Have $2 Gasoline, Analyst Says

    12/20/2014 3:34:10 PM PST · by 2ndDivisionVet · 33 replies
    North Country Public Radio ^ | December 20, 2014 | Scott Neuman
    <p>Remember when we told you earlier this month that a gas station in Oklahoma City had lowered its price for regular unleaded to $1.99 a gallon?</p> <p>Well, now that trend is nationwide: GasBuddy.com, which monitors prices across the country, says the $1.99 sign is up over pumps in 24 states. The national average is at $2.43 a gallon, but at one filling station in Springfield, Mo., it was only $1.93.</p>
  • Crude Oil Is Rolling Over

    12/18/2014 10:06:12 AM PST · by blam · 49 replies
    BI ^ | 12-18-2014 | Myles Udland
    Myles Udland December 18, 2014Crude oil is starting to roll over. In late morning trade, West Texas Intermediate crude oil futures were giving up earlier gains and were down more than 1% on the day. WTI futures were down near $56 a barrel on Thursday, after briefly touching $59 a barrel earlier. On Wednesday, crude oil had a wild ride, spiking ahead of the Federal Reserve's announcement before giving up those gains. (snip)
  • OIL JUST SPIKED

    12/17/2014 10:05:19 AM PST · by blam · 112 replies
    BI ^ | 12-17-2014 | Sam Ro
    Sam Ro December 17, 2014Oil prices are surging. The price of West Texas Intermediate crude oil on Tuesday rose to $58.98 from $54.20. Brent crude rose to $63.50 from about $58.70. At this point, there seems to be no obvious explanation for the move. On Tuesday, oil prices tumbled to five-year lows. WTI touched $53.60 and Brent sank to $59.86, both were the lowest levels since May 2009. (snip)
  • In These 13 States, Gas Is Selling for Below $2 a Gallon

    12/15/2014 7:56:37 PM PST · by 2ndDivisionVet · 28 replies
    The Daily Signal ^ | December 15, 2014 | Natalie Johnson
    Just two weeks ago a sole gas station in Oklahoma swept headlines for dropping gas prices below $2 a gallon. Today, 13 states have joined that list and the trend is expanding. Gas for less than $1.90 a gallon can be found in at least one station in Oklahoma, Louisiana and Ohio, according to CNN. CNN cites ten additional states– Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia– that now have gas below $2 a gallon. “What we’re seeing is markets at work,” Heritage Foundation economist Nick Loris said. “Significant increases in supply and a relatively...
  • Expert: Under $2 Gas Soon

    12/15/2014 8:22:33 AM PST · by central_va · 59 replies
    wrva richmond va ^ | 12/15/14 | Andy Doernen
    Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.
  • Obama Revives Ozone Regulation He Once Opposed for Being 'Too Severe a Burden' on Economy

    12/10/2014 4:18:59 PM PST · by george76 · 19 replies
    Breitbart News ^ | 8 Dec 2014 | Marita Noon
    Late on Thanksgiving eve, with no one paying attention, the Obama administration released its regulatory road map of thousands of regulations for 2015. Within the bundle of more than 3,000 regulations lies a rule on ozone that President Obama himself in 2011 “put on ice” in effort to reduce “regulatory burdens and regulatory uncertainty, particularly as our economy continues to recover.” Regarding the 2011 decision that shocked environmental groups, the New York Times recently stated: “At the time, Mr. Obama said the regulation would impose too severe a burden on industry and local governments at a time of economic distress.”...
  • Oil Is On 'An Incessant March Downwards'

    12/10/2014 5:06:02 AM PST · by blam · 57 replies
    BI - Reuters ^ | 12-10-2014 | Adam Rose
    Adam Rose, Reuters December 10, 2014 Brent crude remained above $66 barrel on Wednesday, after resuming its drift downward amid a glut of oil on the market, following a short-lived reprieve the previous day when a weaker dollar had provided some support to prices. Worries about oversupply have pushed Brent down 40% since June. "Notwithstanding day-to-day movements, the fundamental picture hasn't really changed, and that is one of supply outstripping demand growth for most of the year," said Phin Ziebell, a senior analyst at National Australia Bank. "It's an incessant march downwards, and it would be interesting to see where...
  • GOP Leaders: Gas Tax Hike Could Fuel Fixes To Bad Roads And Bridges

    12/08/2014 5:13:11 PM PST · by Theoria · 64 replies
    NPR ^ | 08 Dec 2014 | David Schaper
    Gasoline prices are at their lowest level in four years. The price at the pump in many states is almost a full dollar cheaper than it was last spring. So some politicians think this is a good time to raise gasoline taxes. Several states are tired of waiting for Congress to fix the federal highway trust fund, so they're considering raising gas taxes themselves to address their crumbling roads. Michigan Gov. Rick Snyder is trying to sell that state's legislators — especially those in his own Republican party — on raising the state's motor fuel tax to fund long neglected...
  • Gas Tax Campaign Gets Ugly Fast (also Ben Carson and guns)

    12/06/2014 12:35:02 AM PST · by iowamark · 16 replies
    The Iowa Republican ^ | 12/6/2014 | Craig Robinson
    It’s pretty clear, there is going to be a major push to raise the state’s gas tax during the upcoming legislative session. While that should surprise no one, I was shocked to see the over-the-top TV ad that the pro-gas tax crowd is currently using to advance the issue. That’s right, school children are going to die if we don’t raise the gas tax. This outrageous ad makes all those negative ads in the U.S. Senate race look like child’s play. Talk about jumping the shark. The ad begins with the claim that there are currently 5,000 deficient bridges in...