Keyword: gasprices

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  • Guess What Happened The Last Time The Price Of Oil Crashed Like This?

    12/20/2014 8:06:02 PM PST · by NKP_Vet · 64 replies
    http://www.prophecynewswatch.com ^ | December 6, 2014 | Michael Snyder
    There has only been one other time in history when the price of oil has crashed by more than 40 dollars in less than 6 months. The last time this happened was during the second half of 2008, and the beginning of that oil price crash preceded the great financial collapse that happened later that year by several months. Well, now it is happening again, but this time the stakes are even higher. When the price of oil falls dramatically, that is a sign that economic activity is slowing down. It can also have a tremendously destabilizing affect on financial...
  • Rapid fall in oil prices may portend global recession

    12/16/2014 4:56:58 AM PST · by thackney · 47 replies
    NY Post ^ | December 14, 2014 | Jonathon M. Trugman
    Cratering crude-oil prices may be a blessing to cash-strapped American consumers, but it’s a double-edged sword when it comes to the overall economy. The problem for the overall economy is not so much the drop in oil prices as it is the velocity at which oil prices have fallen. The plunge from a peak of just over $100 per barrel in the early summer to today’s $58 — a massive 42 percent drop in just a few short months, most of which has come in the last 90 days — could make anyone’s head spin. The rapid fall in crude...
  • 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...
  • Remember When MSM Mocked Michele Bachmann for $2 Gas Pledge?

    12/13/2014 6:01:14 AM PST · by governsleastgovernsbest · 30 replies
    NewsBusters ^ | Mark Finkelstein
    So who's crazy now? In 2011, the MSM mercilessly mocked Michele Bachmann for saying that if she became president, gas prices would fall to under $2/gallon. Typical was Time magazine, which called her prediction "fantasy." Time mocked Bachmann's drill, baby, drill policy, sniffing that if implemented, "prices at the pump might drop a whole 3 cents a gallon." But on CBS This Morning, there was top oil analyst Tom Kloza, saying that by Christmas, gas prices would be in the range of . . . $1.99-2.29 [I saw $2.18 here in Texas yesterday]. So who's crazy now, and where does...
  • Saudi Oil Minister Naimi: Why Should We Cut Production?

    12/10/2014 2:39:09 PM PST · by thackney · 24 replies
    Reuters via Rig Zone ^ | December 10, 2014 | Mitra Taj & Valerie Volcovici
    Saudi Oil Minister Ali al-Naimi on Wednesday shrugged off suggestions that the world's biggest crude exporter might cut production to reverse the deepest price slump in years, saying the kingdom's output had remained steady through last month. Naimi's comments on the sidelines of an annual U.N. climate change conference in Lima, Peru, stuck to the message he laid out at OPEC's meeting two weeks ago: The market would be left to balance itself without the kingdom's intervention. That stance was seen as a shift from longstanding Saudi policy to act as a swing supplier. Oil prices have dropped $13 a...
  • Why Gasoline Prices Are Down -- And How to Keep It That Way

    12/06/2014 12:16:40 PM PST · by Kaslin · 32 replies
    Townhall.com ^ | December 6, 2014 | Ed Feulner
    If you’re like most Americans, you haven’t been questioning the welcome drop in gasoline prices. You just fill ’er up and feel grateful that you’re spending less.But why has this remarkable drop come about? And what can we do to help keep prices lower?Some of it, unfortunately, is beyond our control. Worldwide demand for oil is down now. That always causes the cost of gasoline to drop.But the other side of the equation -- the part that is under our control -- has gone largely unheralded in many media accounts: the boom in U.S. energy production. Simply put, we’re producing...
  • 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...
  • First U.S. gas station drops below $2 a gallon (OKC)

    12/03/2014 6:51:05 PM PST · by DaveMSmith · 47 replies
    An Oncue Express station in Oklahoma City was selling the motor fuel for $1.99 a gallon Wednesday, becoming the first one to drop below $2 in the U.S. since July 30, 2010, Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization Inc., said by email from Chicago. "We knew when we saw crude oil prices drop last week that we'd break the $2 threshold pretty soon, but we didn't know if it would happen in South Carolina, Texas, Missouri or Oklahoma," said DeHaan, senior petroleum analyst for Gasbuddy. "Today's national average, $2.74, now makes the current price we pay a...
  • Putin's Kremlin Losing the Oil Price War -- And That's Good

    12/03/2014 2:03:49 PM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 3, 2014 | Austin Bay
    Free enterprise is proving to be Russian dictator Vladimir Putin's most potent foe. Moscow's February 2014 invasion of Ukraine's Crimean peninsula and its immediate annexation drastically altered international diplomatic calculations. In a year marked by the homicidal rise of the Islamic State and Chinese probes of East Asian maritime borders, Putin's destruction of post-Cold War security arrangements is the most dangerous challenge to global peace. Yet U.S. and Western European attempts to penalize the Kremlin its Crimean theft and blunt its relentless "slow war of moral attrition" in Eastern Ukraine have been erratic. Though France's decision to halt its sale...
  • Newt Gingrich's Lower Gas Price Promise

    February 28, 2012 Newt Gingrich's lower gas price promise 2012 candidate guarantees he can lower gas to $2.50 a gallon and explains how he will do this
  • GOP oil titan: Keystone’s irrelevant (Harold Hamm)

    11/15/2014 4:11:28 PM PST · by Olog-hai · 40 replies
    Politico ^ | 11/14/14 2:26 PM EST | Updated 11/14/14 8:42 PM EST | Darren Goode
    Republican oil mogul Harold Hamm says Congress is wasting its time debating the Keystone XL pipeline. “It’s not relevant at all, in my opinion. And here we are making it relevant now? Forget it,” the billionaire CEO of Oklahoma-based Continental Resources told Politoco in an interview Friday, just before the House passed a bill aimed at approving the pipeline. […] Hamm said his company, which had planned to use Keystone to ship some of its North Dakota crude, is already using other pipelines for half of its oil. And the percentage is growing. “We’re supporting other pipelines out there; we’re...
  • Fill 'Er Up: U.S. Says Gas Prices to Average Below $3 a Gallon in 2015

    11/13/2014 1:36:05 PM PST · by SeekAndFind
    NBC News ^ | 11/13/2014
    Despite losing at least eight seats, and probably nine before all the votes are counted by 2015, Senate Majority Leader Harry Reid (D-NV) has not faced much in the way of a public pushback from his fellow Democrats… until today. Purple state Democrat Sen. Claire McCaskill (D-MO) revealed on Thursday that she will not back Reid in his role as minority leader in the next Congress.The revelation came as a surprise when she was asked by reporters if she would stand by Reid. “I will not,” McCaskill replied.“Yesterday, I met with Harry Reid and told him I would not...
  • Gas is Cheaper. Where are the Grandstanding Politicians?

    11/12/2014 11:39:02 AM PST · by Kaslin · 44 replies
    Townhall.com ^ | November 12, 2014 | Jeff Jacoby
    Oil prices are plunging. Gasoline is now cheaper than milk. Why doesn't Washington do something already?Since peaking in June, the price of oil has tumbled by 25 percent. Texas light sweet crude futures have fallen to around $77.40 a barrel, a three-year low, while Brent oil, the global benchmark, sank on Monday to its lowest price in four years.With cheaper oil has come cheaper gasoline. The national average price for a gallon of regular is now just $2.926. Drivers haven't seen pump prices this low since December 2010. Nor have they seen such a sustained decline — the price has dropped...
  • Oil Prices Likely to Keep Falling as US Output Booms

    07/12/2014 8:48:19 AM PDT · by rktman · 12 replies
    moneynews.com ^ | 7/12/2014 | unknown
    New U.S. pipelines and a revival in Libyan supply are increasing the likelihood that oil prices will slump through year-end after climbing in the first six months. Wall Street analysts tracked by Bloomberg predict West Texas Intermediate oil, the U.S. benchmark, will average $100 a barrel in the fourth quarter, down 5.1 percent from June 30, while Brent drops 4.8 percent to $107. Violence in Iraq sent Brent to $115.71 in June, its highest level since September, on concern supplies would be disrupted.
  • Gas Prices Extend Painful Record: July 4 Marks 1,290 Days above $3-a-Gallon

    07/02/2014 11:04:20 AM PDT · by Cheerio · 17 replies
    CNSNews ^ | July 2, 2014 | Julia Seymour
    This Independence Day weekend, drivers won't see any relief from high gas prices. Although prices retreated by a fraction of a cent at the beginning of the week, AAA predicts holiday travelers will pay the most at the pump since 2008. In its monthly gas price report released June 30, AAA said, "With Independence Day only a few days away, today's national average price of gas is $3.68 per gallon. This average is considerably more expensive than recent years for the holiday. The national average on July 4 in previous years was: $3.48 (2013); $3.34 (2012); $3.57 (2011); $2.74 (2010);...
  • AAA: Iraq Civil War Pushing Up Gas Prices in US

    06/23/2014 5:42:02 AM PDT · by massmike · 15 replies
    WASHINGTON — AAA Mid-Atlantic says the civil war in Iraq is pushing up gasoline prices in the United States. Drivers in the District of Columbia are paying $3.89 per gallon. That’s up 5 cents from a week ago and is far above the national average of $3.68 per gallon. In Maryland, AAA says gas prices are up 4 cents this week to an average of $3.67 per gallon. Prices are highest in the Washington suburbs and western Maryland. In Delaware, AAA says gas prices have risen 7 cents over the past week to about $3.68 per gallon. AAA says national...
  • What Iraq's war may mean for the Keystone pipeline

    06/19/2014 6:26:32 AM PDT · by shove_it · 11 replies
    CNBC ^ | 18 Jun 2014 | Javier E. David
    Supporters of the Keystone XL pipeline have found a new talking point: Iraq Violence exploding in one of the world's largest oil-producing nations is ricocheting in the debate over U.S. energy policy. Backers of the pipeline, which would run from Alberta, Canada, to Texas, are pointing to the crisis in Iraq as a rationale for pushing the project forward. Often billed as a possible component for supplying the U.S.'s voracious energy markets with crude oil, TransCanada's long-delayed $5.3 billion pipeline has been mired in delays for six years. On Wednesday, the Senate Energy and Natural Resources committee voted 12-10 to...
  • Russia’s Gazprom cuts gas to Ukraine in a new phase of their conflict

    06/16/2014 12:33:37 PM PDT · by Citizen Zed · 17 replies
    Washington Post ^ | June 16, 2014 | MICHAEL BIRNBAUM AND CAROL MORELLO
    Russia cut off gas supplies to Ukraine on Monday, a move that will inflict immediate pain on its turbulent neighbor and could eventually affect other gas-dependent European nations. The cutoff intensifies pressure on Ukraine, which is contending with an increasingly violent pro-Russian insurgency in its east and with economic challenges that were crippling even before the upheaval sparked by the ouster of Kremlin-friendly President Viktor Yanukovych in February. And if the gas flow is halted for a long time, winter stockpiles across Europe could be depleted, causing problems across the continent, particularly in eastern European countries that depend solely on...
  • U.S. Gasoline Consumption Plummets By Nearly 75%

    05/31/2014 11:02:00 AM PDT · by blam · 55 replies
    Zero hedge - BullionBullsCanada ^ | 5-31-2014 | Jeff Nielsen
    Tyler Durden 05/30/2014Submitted by Jeff Nielsen via BullionBullsCanada blog, Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral. However, even that previously published data, and the grim analyses which accompanied it could not prepare me...
  • Gas Price Record Worsens: 1,245 Days above $3 a Gallon

    05/22/2014 1:34:55 PM PDT · by Olog-hai · 41 replies
    Cybercast News Service ^ | Julia Seymour
    Memorial Day weekend drivers will continue to take a hit as gasoline prices remain high. May 20 marks the 1,245th straight day that the national average for a gallon of regular gasoline costs more than $3 a gallon, according to AAA data. That’s nearly three-and-a-half years above $3 a gallon.
  • Gas Prices Hit 13-Month Highs, Prompt Macro Concerns

    04/20/2014 3:42:10 PM PDT · by Nachum · 73 replies
    zero hedge ^ | 4/20/14 | tyler durden
    At $3.67, US Regular gasoline prices are their highest since March 2013 having risen over 12% (40c) in the last 2 months. This must be great news, right? It must mean world demand is picking up and driving up prices of crude oil as global trade soars (amid a collapsing Baltic Dry and decelerating Chinese growth). This can't be related to "war premia" right? - as we noted here - because stocks (which always know best) have discounted all this tomfoolery. However, as the following chart shows, each time gas prices have surged up toards the Maginot Line of $3.80,...
  • California to see surge in oil brought in by rail

    04/14/2014 7:56:20 AM PDT · by thackney · 13 replies
    Fuel Fix ^ | April 14, 2014 | Associated Press
    California is preparing for an oil boom — brought in on rail cars. There are no pipelines that bring crude oil into California. For decades, the fuel that powers the state’s 32 million vehicles has come from tanker ships or in-state production. But government regulators predict a surge in U.S. oil production will means a steep increase in the number of trains carrying it to California refineries. The Ventura County Star reported Sunday that the increase in rail traffic will happen quickly, jumping from 9,000 carloads in 2011 to more than 200,000 carloads by 2016, according to California Energy Commission...
  • States With the Highest Gas Prices

    03/21/2014 9:00:50 AM PDT · by SeekAndFind · 11 replies
    Wall Street 24X7 ^ | 03/20/2014 | By Alexander E.M. Hess and Vince Calio
    >Gasoline prices have risen steadily in the past six weeks through March 18. There was an uptick in gas prices in 37 of the past 38 days, and gas is now more expensive than at any point in the past six months. In a number of states, the price of gas is now more than $3.75 per gallon, versus $3.52 nationwide, with gas prices in several other states not far behind. In Hawaii, the price of gas is $4.17 per gallon. Here, as in a number of states, the high price of gas reflects the difficulties involved in transporting oil...
  • The Year of the Dud

    01/02/2014 6:46:50 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | January 2, 2013 | Victor Davis Hanson
    Lots of things that should have happened in 2013 did not. We were supposed to have long ago reached "peak oil" and an age of always-higher gas prices. Wind and solar power -- and a reduced lifestyle -- were our dismal future. But someone or something did not cooperate with gloomy government predictions. After all the failed subsidized green companies, the postponement of the Keystone Pipeline, the radical restrictions of new gas and oil leasing on federal lands, and the promises for radical climate-change legislation curtailing carbon energy use, the United States nevertheless seems awash in old energy. Gas prices...
  • Warren Buffett’s firm acquiring Phillips 66 unit

    12/30/2013 9:07:48 PM PST · by Olog-hai · 21 replies
    Associated Press ^ | Dec 30, 2013 6:12 PM EST
    Warren Buffett’s company has agreed to trade roughly $1.4 billion of its stock in Phillips 66 for one of the refiner's chemical businesses. Houston-based Phillips 66 said Monday that Berkshire Hathaway will give up about 19 million of its 27.2 million Phillips 66 shares to acquire a business that makes additives that help crude oil flow through pipelines. …
  • High Oil Prices Taxing American Families—But There’s A Solution

    11/25/2013 4:29:01 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | November 25, 2013 | Ken Blackwell
    At the beginning of this year, many Americans opened their paychecks to find that their take-home pay was suddenly less than it had been the previous month. The payroll tax cut had expired, resulting in the average American worker owing an additional $700 in payroll taxes this year compared to last. For a two-parent household, that’s $1,400 less with which to pay the bills, put food on the table, and fill up the gas tank. But it’s far from the only added expense straining family budgets. Oil prices, in particular, have skyrocketed over the past decade, imposing higher direct and...
  • Failing to Build Keystone Pipeline is Criminal Negligence

    10/26/2013 10:28:55 AM PDT · by SeekAndFind · 10 replies
    American Thinker ^ | 10/26/2013 | Chriss Street
    An eyewitness noted when thirteen railroad tanker cars carrying propane and crude oil across Alberta, Canada exploded after derailing early on October 20th, "the fireball was so big, it shot across both lanes of the Yellowhead (Highway)... there's fire on both sides." Only two Canadian National Railway workers were injured and no deaths have been reported in this latest "pipeline on rails" calamity, but the horrific accident comes just 3 months after a similar oil train disaster in a populated area took 47 lives in Lac-Megantic, Quebec. It is too early to determine the cause of the latest accident, although...
  • The Renewable Fuel Standard is Another Taxpayer-Funded Bailout

    09/30/2013 5:20:41 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | September 30, 2013 | Ken Blackwell
    We’re all paying more at the pump. It’s hurting consumers and dangerous for the fragile economy. And, it’s because of a Washington handout to corn farmers and big Wall Street banks – all disguised as a measure to promote renewable energy and clean-burning fuels. The Renewable Fuel Standards (RFS) mandates an ever-increasing floor of ethanol be mixed with gasoline. The bill, which was expanded under President Obama, ensures a baseline level of demand for ethanol, distorting the market and sending the price of corn substantially higher. That’s because gasoline refiners have to purchase ethanol, regardless of the price. So, corn...
  • Pump prices are falling

    09/23/2013 10:10:57 AM PDT · by thackney · 65 replies
    Fuel Fix ^ | September 23, 2013 | Zain Shauk
    Gasoline prices are at their lowest level since early July and are expected to fall further, according to an analysis from GasBuddy.com. The national average for a gallon of regular is $3.47, down 34 cents from a year ago, according to AAA. The average price for a gallon of regular in Houston is $3.23, down 37 cents from a year ago, according to AAA data. Because refineries are running at high rates and consumer demand likely will be down from last year, prices will continue a gradual decline, GasBuddy.com Chief Oil Analyst Tom Kloza said in an email. Several refuelling...
  • Obama: Keystone XL Won't Create Jobs, Will Raise Gas Prices

    07/29/2013 4:00:05 AM PDT · by lowbridge · 80 replies
    breitbart ^ | july 28, 2013 | Ben Shapiro
    In a New York Times interview published Saturday, President Obama came out foursquare against the Keystone XL pipeline, claiming that it would not create jobs. “Republicans have said that this would be a big jobs generator,” Obama said. “There is no evidence that that’s true.” He then blamed Canada for not “doing more” to prevent carbon emissions from oil sands. Obama continued, “I meant what I said; I'm going to evaluate this based on whether or not this is going to significantly contribute to carbon in our atmosphere. And there is no doubt that Canada at the source in those...
  • The Most Expensive Gas In The World

    07/07/2013 7:57:27 PM PDT · by SeekAndFind · 13 replies
    Zero Hedge ^ | 07/07/2013 | Tyler Durden
    At an incredible $9.98 per gallon, Turkey has the most expensive gasoline in the world - almost triple that of the US - closely followed by Norway at $9.97. In fact, as Bloomberg notes, the US can celebrate its good fortune at being only the 51st most expensive country in the world for gasoline. So why is it then that so much is made of a rising gas price in the US? Why do we fear $3.80 when Turkey shows us things could be a lot worse? The simple answer lies in the chart below. The US spends the...
  • Only $1.14 per Gallon?

    07/02/2013 10:40:03 AM PDT · by William Tell 2 · 44 replies
    MainStreet.com ^ | 7-2-13 | Michael P. Tremoglie
    NEW YORK (MainStreet) — The U.S. Department of Energy (DOE) announced last month the launching of the "eGallon" - a tool that will compare the costs of fueling electric vehicles (EVs) to fueling gasoline-powered ones. According to the report, the national average eGallon price is about $1.14. This means that an EV can travel as far on $1.14
  • When is the price of gasoline too high?

    04/23/2013 2:00:46 PM PDT · by thackney · 44 replies
    Fuel Fix ^ | April 23, 2013 | Dan X. McGraw
    Drivers’ views of “too high” gasoline prices appears to be changing after seeing years of steady hikes at the pump. According to a AAA survey, more than half of adults believe gasoline is too costly when it reaches $3.44 per gallon. Those adults are driving, buying and dining out less as a result of the higher prices. “It was not long ago that motorists were shocked to pay more than $3 per gallon for gasoline, but now that is standard at stations nationwide,” said Robert L. Darbelnet, president and CEO of AAA. “Expensive prices have forced many motorists to change...
  • Driving to work now costs $9,100 a year as insurance and maintenance prices rise

    04/17/2013 12:08:26 PM PDT · by 2ndDivisionVet · 21 replies
    The London Daily Mail ^ | April 17, 2013
    Owning a car will cost the average American driver more than $9,100 this year, the AAA has revealed. The automotive club unveiled its annual study of driving costs on Tuesday and found that the average sedan owner will rack of $0.61 for every mile on the road. SUV drivers are in for even more pain in the wallet - $0.77 per mile or $11,600 a year. The AAA estimates include nearly all expenses of taking to the road - from the cost of the car itself to gasoline, tires, insurance and repairs. The data estimates that Americans drive 15,000 miles...
  • A look back at how the left wing media treated gas prices when Bush was in office

    04/08/2013 10:26:58 AM PDT · by against_kerry · 7 replies
    NYT March 2011 ($3.57 a gallon): US better prepared for rising gas costs NYT August 2005 ($2.55 a gallon): Economy shows signs of strain from oil prices 'Two oil men' to blame for high gas prices, Pelosi says http://articles.cnn.com/2008-07-17/politics/congress.oil_1_drilling-anwr-pelosi?_s=PM:POLITICS April 24th, 2006, "Democrats Eager to Exploit Anger Over Gas Prices http://www.nytimes.com/learning/teachers/featured_articles/20060424monday.html Blame rising oil prices on Bush Wednesday, June 11, 2008 Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/10/EDPP11775T.DTL#ixzz1p3rq8dZ8 As gas prices and oil profits soar, Bush promotes giveaways to corporations http://www.wsws.org/articles/2008/apr2008/gas-a30.shtml Mr. Bush, Lead or Leave http://www.nytimes.com/2008/06/22/opinion/22friedman.html http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/10/EDPP11775T.DTL
  • As Gas Prices Spike, Obama Recycles Failed Policies

    03/20/2013 4:36:15 AM PDT · by IBD editorial writer · 11 replies
    Investor's Business Daily ^ | 03/19/2013 | IBD Staff
    Cost Of Green: The same day the government blamed high fuel prices for February's inflation spike, President Obama unveiled his latest idea: Waste billions more taxpayer dollars on the same failed "green" energy programs. Pump prices have climbed 40 cents a gallon since the start of the year, topping $3.60 a gallon. Obama complains that every time gasoline prices spike, "politicians dust off their three-point plans for $2 gas, but nothing happens and then we go through the same cycle again." But the truth is that Obama's the one who keeps dusting off the same tired old proposals — the...
  • EPA Increases Mandates For Fuels That Don't Exist

    02/26/2013 4:56:20 PM PST · by raptor22 · 13 replies
    Investor's Business Daily ^ | February 26, 2013 | IBD EDITORIALS
    Energy: In yet another green folly, the lawless Environmental Protection Agency continues to fine gasoline producers for not using cellulosic biofuels in quantities that don't exist, making only more pain at the pump. Last month, a federal court dealt a serious blow to the Environmental Protection Agency's renewable fuels push by ruling that the agency exceeded its authority by mandating refiners use cellulosic biofuels, which aren't commercially available. The EPA's lawless response in a lawless administration was to raise its requirements. In 2005 and 2007, Congress twice amended the Clean Air Act to establish a renewable fuel standard (RFS) that...
  • Gas Prices Soar 51 Cents in Just Two Months

    02/18/2013 10:03:56 AM PST · by george76 · 73 replies
    CNS News ^ | February 18, 2013 | Julia Seymour
    Per gallon cost has risen every business day for a month. Consumers are taking another huge hit in 2013. First, the two percent Social Security tax hike began the year. Now, gas prices are soaring ever closer to $4 a gallon and have jumped 51 cents a gallon since Dec. 20. According to the Oil Price Information Service, the national average for a gallon of unleaded was $3.21.9 on Dec. 20, 2012. Today, that price is $3.73.0. While there has been a steady increase, prices shot almost 9 cents just over the weekend. ... It took the media some time...
  • Corn shortage idles 20 ethanol plants nationwide

    02/11/2013 10:18:20 AM PST · by thackney · 49 replies
    Fuel Fix ^ | Associated Press
    The persistent drought is taking a toll on producers of ethanol, with corn becoming so scarce that nearly two dozen ethanol plants have been forced to halt production. The Renewable Fuels Association, an ethanol industry trade group, provided data to The Associated Press showing that 20 of the nation’s 211 ethanol plants have ceased production over the past year, including five in January. Most remain open, with workers spending time performing maintenance-type tasks. But ethanol production won’t likely resume until after 2013 corn is harvested in late August or September. Industry experts don’t expect a shortage — millions of barrels...
  • Closure of Hess Corp.'s Port Reading Refinery Not Seen Having Major Impact on Gasoline Markets

    02/07/2013 8:04:49 AM PST · by thackney · 3 replies
    Energy Information Administration ^ | February 6, 2013 | Energy Information Administration
    Full Title: Announced Closure of Hess Corp.'s Port Reading Refinery Not Seen Having Major Impact on Gasoline Markets This Week In Petroleum On January 28, Hess Corp. announced plans to close its Port Reading, New Jersey, refinery by the end of February. Port Reading further processes feedstocks produced by other refineries. Futures prices for reformulated blendstock for oxygenate blending (RBOB) rallied on the news, as markets considered the impact the closure would have on gasoline supply to the Northeast (PADDs 1A and 1B) in the coming months. Given the refinery's location in New York Harbor, an actively traded physical market,...
  • Gas prices take bigger bite of Americans' income [Highest in THREE DECADES!]

    02/05/2013 6:27:18 AM PST · by SoFloFreeper · 43 replies
    CNN ^ | 2/4/13 | Emily Jane Fox
    Americans are pumping about 4% of their incomes into buying gasoline, according to a government report. The Energy Department said on Monday that U.S. households spent an average of $2,912 on gasoline last year, the highest level in four years. The percentage reached similar levels in 2008, when a red-hot global economy and panic over dwindling supplies sent gas prices through the roof. But before then, the percentage hadn't reached these levels in nearly three decades.
  • $3.69.9 In The Morning, $3.75.9 In The Evening

    02/04/2013 3:02:08 PM PST · by knarf · 33 replies
    self | February 4, 2013 | knarf
    When we went shopping Saturday morning, we drove by a local EXXON gas station ...
  • Nebraska Environmental Report Finds Keystone XL Pipeline Safe To Bring Jobs, Revenue, Growth

    01/08/2013 4:37:15 PM PST · by raptor22 · 10 replies
    Energy: The further review the administration said was needed is done, with a Nebraska environmental agency saying it's safe to build the pipeline that will bring oil, jobs and revenue from our friendly northern neighbor. After kicking the Canadian oil barrel down the road, the Obama administration may soon be forced to approve the Keystone XL pipeline or come up with another excuse to block it after a report from the Nebraska Department of Environmental Quality declared it would have "minimal environmental impacts" on the state and its sensitive aquifers. Friday's report triggered a 30-day deadline for Nebraska Gov. Dave...
  • Bipartisan Senate Group Pushes For Keystone XL Okay - Time To Lay Some Pipe

    11/20/2012 4:49:07 PM PST · by raptor22 · 11 replies
    Now that the election is over, nine Republican and nine Democrats have asked the president to stop making excuses and build a job-creating pipeline that will close the revenue gap through economic growth. The truly bipartisan group of senators, led by Max Baucus, a Montana Democrat and powerful chair of the Senate Finance Committee, and John Hoeven, a North Dakota Republican, wrote President Obama on Friday urging him to quickly issue a permit for the northern leg of the Keystone XL pipeline that would bring over 830,000 barrels of crude from Canada's oil sands to American refineries every day. "Setting...
  • Odd/Even Gasoline Rationing Runs into Trouble

    11/12/2012 11:05:15 AM PST · by John Semmens · 23 replies
    Semi-News/Semi-Satire ^ | 10 Nov 2012 | John Semmens
    Borrowing an idea left over from the Carter Administration, New York City announced an odd/even gasoline rationing scheme. It was hoped that the scheme would cut four-hour wait times at gasoline pumps in half. However, a substantial portion of drivers are unable to determine whether the numbers on their license plates are odd or even. “My plate has four numbers on it,” one driver observed. “Which one should I use?” Another driver pointed out that “I have a vanity plate. All of the writing on my plate is letters. Do I go on an ‘odd’ day because it is odd...
  • EPA grants 16 states clean gas waivers after Sandy

    11/05/2012 6:23:18 PM PST · by lyby · 10 replies
    The Miami Herald ^ | Wednesday, 10.31.12 | JOSH LEDERMAN
    The Obama administration is temporarily waiving some Clean Air Act requirements in 16 states and the District of Columbia to reduce fuel disruptions from Superstorm Sandy. Environmental Protection Agency Administrator Lisa Jackson says in a letter to governors that extreme circumstances related to Sandy will prevent enough gasoline from reaching consumers.
  • U.S. Military to Deliver Fuel to New York Region

    11/03/2012 11:43:51 AM PDT · by Olog-hai · 34 replies
    Time ^ | Nov. 02, 2012 | Terri Pous
    Amid tense reactions to long lines and closures at metropolitan New York gas stations, federal authorities decided to request that the Defense Department deliver 24 million gallons of extra fuel to the area and lift restrictions on deliveries from foreign ships, the New York Times reported. The fuel shortage has been one of the most pronounced consequences of Superstorm Sandy. The Defense Department will hire hundreds of trucks to deliver 12 million gallons each of gasoline and diesel fuel from commercial suppliers to staging areas in New Jersey. A delivery of that size would fill about 800,000 vehicles with 15-gallon...
  • High Gasoline Prices and the 2012 Recession, Part I

    10/28/2012 8:04:47 PM PDT · by NaturalBornConservative · 6 replies
    Natural Born Conservative ^ | October 28, 2012 | Larry Walker Jr
    Truth is not easily hidden.- By: Larry Walker, Jr. -Conventional retail gasoline averaged $3.65 a gallon in the most recent week ended October 22, 2012, yet when Barack Obama was sworn into office the price averaged $1.88. When questioned about the 94.2% increase which occurred on his watch, Mr. Obama remarked that the reason gasoline prices were so low when he entered office was because the U.S.was “in the middle of an economic depression.” However, the question wasn’t why prices were so low when he entered office, but rather why they ballooned by 94.2% on his watch. We’re still awaiting...
  • High Gasoline Prices and the 2012 Recession, Part II

    10/28/2012 8:09:06 PM PDT · by NaturalBornConservative · 20 replies
    Natural Born Conservative ^ | October 28, 2012 | Larry Walker Jr
    Artificial Demand ::“Real demand is not artificial. We should resist as much as possible the notion of providing things that are not actually demanded by anyone.” ~ American Consensus- By: Larry Walker, Jr. -The price of any product or service is normally determined by two variables, supply and demand. In economics, prices rise as demand increases, as supply decreases, or a combination of the two. It’s only when supply keeps pace with demand that the price of gasoline stabilizes or declines.Since we know that the world’s population is increasing, not decreasing, more gasoline production is constantly required, not less. It...
  • President Says High Gas Prices Are Sign of Prosperity

    10/20/2012 9:46:58 AM PDT · by John Semmens · 17 replies
    Semi-News/Semi-Satire ^ | 20 Oct 2012 | John Semmens
    In a desperate effort to try to persuade voters that the economy is starting to recover, President Obama touted high gas prices as “proof that things are better than most people think they are.” “Rising demand is what pushes prices up,” Obama explained. “The fact that gasoline prices have more than doubled since I took office shows that people must be driving more. Since studies show that driving to work accounts for the bulk of most folks’ travel I think it’s safe to say that the jobs picture has to be a lot better than we’ve been led to believe.”...