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Posts Tagged ‘Gas Prices’

Oil and politics

Washington’s fear and confusion over high gasoline prices has come to this: Democratic Party leaders, who have dismissed Republican calls to end the federal ban on offshore oil drilling as a political stunt, have suddenly decided it may not be such a bad idea after all.

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Oil falls as fears for growth intensify

Crude oil prices fell below $120 a barrel for the first time in three months on Monday, as new data underscored the damage high energy costs are inflicting on US consumers.

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India May Pay Twice as Much for Gas by 2010 on Surging Demand

Petronet LNG Ltd., India’s biggest buyer of liquefied natural gas, and Royal Dutch Shell Plc operate Dahej and Hazira LNG import terminals respectively on the country’s west coast.

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Prayer at the pump for lower petrol prices

Battered by rising petrol prices and despairing of the ability of politicians to ease their pain, Americans are turning to the one figure they think can help – God.

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OPEC warns against military conflict with Iran

The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an “unlimited” increase in the case of a military conflict involving Iran, because the group’s members would be unable to make up the lost production.

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Crude Oil Recovers a Penny

Oil-producing nations provided a mixed bag for traders. Iran tested missiles, increasing tensions, butRoyal Dutch Shell PLC said it restored some Nigerian production shut in the last month by militant attacks.

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Gas Prices Spur Drivers to Cut Use to Five-Year Low

The weaker demand, combined with plentiful gasoline supplies, could eventually lead to lower prices at the pump.

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Oil’s Climb Defies Saudi Bid To Talk Prices Down

“For the moment, the market is still preoccupied with the question: How high can it go?” said Tim Evans, an energy analyst at Citi Futures Perspective in New York.

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Oil’s Rapid Rise Stirs Talk of $200 a Barrel This Year

Oil’s historic ascent from $100 to nearly $150 a barrel in just six months is lending weight to a far grimmer prediction: Crude could reach $200 a barrel by the end of the year.

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Gas Stations Hit Skids

…the state of the market doesn’t bode well for anyone trying to exit the gas-retailing business, be they one-store owners or energy giant Exxon Mobil Corp. Last month, the company said it plans to sell its 2,220 stations in the U.S.; other oil companies already have shed most of theirs.

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