Category Archives: Gas or Oil

Oil falls to near $98 amid Greece debt deal talks

By doris | Published: January 23, 2012

Full Story at news.Yahoo.com BANGKOK (AP) — Oil fell to near $98 a barrel Monday in Asia as the crude market waited for the outcome of Greece’s negotiations with creditors on a deal to cut the face value of its debt by half. Benchmark crude for March delivery was down 15 cents at $98.19 a [...]

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Foreign firms invest big in U.S. energy boom

By doris | Published: January 12, 2012

Full Story at money.cnn.com NEW YORK (CNNMoney) — Foreign firms, hungry to cash in on the American energy boom, have invested nearly $6 billion in U.S. gas and oil drilling in the last few weeks. Energy giants from China, France and Spain have snapped up stakes in fields in Ohio, Mississippi, Colorado and Michigan. These [...]

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Happy New Year? Gas prices on the rise again

By doris | Published: January 9, 2012

Full Story at money.cnn.com ATLANTA (CNN) — Gas prices in the United States increased by more than a dime over the past three weeks, the first increase seen since mid-October, according to a survey published Sunday. The average price of a gallon of regular gasoline was $3.35 as of Friday, the Lundberg Survey found. That’s [...]

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In a first, gas and other fuels are top US export

By doris | Published: December 31, 2011

Full Story at msnbc.com NEW YORK — For the first time, the top export of the United States, the world’s biggest gas guzzler, is — wait for it — fuel. Measured in dollars, the nation is on pace this year to ship more gasoline, diesel, and jet fuel than any other single export, according to [...]

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BP to resume drilling in Gulf of Mexico

By doris | Published: October 26, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — 554 days after the Deepwater Horizon explosion, BP is back in action in the Gulf of Mexico. The company announced Wednesday that it had earned its first permit to drill for oil in the Gulf since last year’s oil spill disaster, and says that a resumption of [...]

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After Gadhafi, Libya’s oil will flow – slowly

By doris | Published: October 20, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Even with Libyan leader Moammar Gadhafi dead, analysts say it will likely take years for the country’s oil production to return to full capacity. It’s thought that Libya is producing about 350,000 barrels of oil per day, up from near zero during the depths of the conflict [...]

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VW recalling 160,000 vehicles for fuel line issues

By doris | Published: October 6, 2011

Full Story at BottomLine.msnbc.msn.com Volkswagen is recalling 168,275 Audis, Golfs and Jettas for problems with the fuel line that could lead to leakage and perhaps ignite a fire, according to the National Highway Traffic Safety Administration Thursday. In documents filed with NHTSA, Volkswagen said the fuel line in the recalled vehicles could develop cracks and [...]

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Last Ford Crown Victoria rolls off the line

By doris | Published: September 15, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The last Ford Crown Victoria rolled off a Canadian assembly line Thursday, marking the end of the big, heavy Ford cars that have been popular with taxi fleets and police departments for decades. Since 1979, almost 10 million Crown Victoria, Mercury Grand Marquis and Lincoln Town Cars [...]

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Gas prices to fall, but don’t expect a big drop

By doris | Published: August 30, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The price of U.S. oil has dropped nearly 25% since hitting its highs this spring, yet gasoline is down just 10%. So a big drop should be coming, right? Sorta. Drivers can expect a bit of relief at the pump over the next few months, but they [...]

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With Gadhafi out of power, oil prices should fall

By doris | Published: August 22, 2011

Full Story at msnbc.com NEW YORK — Oil prices around the world should start falling if Libyan rebels succeed in toppling Moammar Gadhafi’s regime, though the full effect won’t be felt for months. Crude prices fell on Monday on hopes that Libya would soon resume oil output. A grim outlook for the economy also helped [...]

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Falling oil and gas prices: A blessing and a curse

By doris | Published: August 19, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Oil prices are falling once again, and relief at the gas pump is likely on the way too. But be careful what you wish for. Low gas prices can sometimes be more a symptom of a weakening economy, than a cure to consumers’ woes. Crude oil briefly [...]

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Federal judge throws out Obama drilling rules

By doris | Published: August 14, 2011

Full Story at msnbc.com CHEYENNE, Wyo. — A judge on Friday threw out Obama administration rules that sought to slow down expedited environmental review of oil and gas drilling on federal land. U.S. District Judge Nancy Freudenthal ruled in favor of a petroleum industry group, the Western Energy Alliance, in its lawsuit against the federal [...]

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Oil demand could be hurt by sluggish economy

By doris | Published: August 10, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The International Energy Agency, in the wake of the recent plunge in oil prices, warned Wednesday that continued global economic weakness through next year could slow demand for oil. The IEA, in its monthly report, said that oil prices have dropped as much as $15 per barrel [...]

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Monthly inflation retreats on lower gas prices

By doris | Published: July 15, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Falling prices at the pump pushed inflation lower in June, but consumers are still paying significantly more than they were last summer. The Consumer Price Index, the government’s key inflation measure, fell 0.2% in the month, led by a 6.8% drop in gasoline prices over the same [...]

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