Fears that the price of oil could reach new highs in the coming weeks have intensified following the emergency meeting of the world’s oil powers in Saudi Arabia.
Posts Tagged ‘Gas Prices’
Oil price rises despite Saudi Arabia’s pledge
Jeroen van der Veer, chief executive of oil giant Royal Dutch Shell, agreed that there would be no “silver bullet” solution to curb spiralling oil prices. “What I’ve heard so far are basically all good ideas, but it will probably not change the price tomorrow morning,” he added.
Comment by former Shell executive Paddy Briggs: For once I (sort of) agree with Jeroen
High Prices lead to high profits. High profits lead to high director remuneration. QED – tis in the interest of the high priced help in Shell (etc.) to keep the oil price high -whatever they may say!
A handful of US senators are convinced that London is a hotbed of speculation in oil markets…
A handful of US senators are convinced that London is a hotbed of speculation in oil markets and that traders might be using London’s less tightly regulated markets to speculate in a way that is contributing to record oil prices.
Will $4 Gasoline Trump a 27-Year-Old Ban?
One was an oilman from Texas, the other a high-paid energy executive. Despite that, or perhaps because of it, for seven years George W. Bush and Dick Cheney have been unable to persuade Congress and the public that domestic oil drilling is an answer to Americas energy needs.
Limits imposed on overseas oil trading
Walt Lukken, acting chairman of the Commodity Futures Trading Commission, said the environment was “ripe for those wanting to illegally manipulate the markets”
Oil Giants Try to Deflect Gas-Price Fury
One of the Exxon ads flashes an image of a windmill, crops and the sun, evoking a triptych of alternative energy: wind, biofuels and solar power.
Have U.S. Drivers Reached Filling Point of No Return?
It took some time, but Americans are responding to rising energy costs by driving smaller cars and cutting back on miles they log on the road.
Oil Falls Back After Almost Hitting $140
After rising 40% this year, some observers wonder how much higher crude can go before prices cripple consumption.
Oil hits another peak despite talk of higher output
Oil surged to a record of almost $140 a barrel yesterday as traders brushed aside reports that Saudi Arabia planned to increase production in order to cool down the market.
Oil price near new high of $140 despite Saudi pledge on production
Global oil prices have doubled since last year and have quadrupled since 2003. A decade ago, it cost $10 a barrel.
Oil prices are world’s biggest worry, Gordon Brown warns
Gordon Brown has warned that the sharply rising oil price is “the most worrying situation in the world” after it hit a new record high.
Oil price edges closer to $140 a barrel
Richard Savage, head of energy research for Mirabaud, the Swiss bank, said: This increase won’t help bring prices down. If anything, it has made people slightly nervous because the rise is so small that it makes you wonder how close to capacity the Saudis now are. There is a sense of: Is this all they can really do?’
Quest for Oil: Where to Look Is the Question
The oil industry is turning up the heat on Congress to open up more federal land to oil and natural-gas drilling…
Perhaps the majors should be taking down their signs completely?
You might think that with petrol in the US now costing more than $4 a gallon $1 more than a year ago it would be a great time to be selling the stuff. So why isExxonMobil choosing now to dispose of its 2,200 company-owned service stations?


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