Royal Dutch Shell Plc  .com Rotating Header Image

THE WALL STREET JOURNAL ONLINE: Oil News Roundup: January 2, 2007 3:47 p.m.

Crude-oil futures edged below $61 a barrel in light electronic trading on the New York Mercantile Exchange.

Here is Tuesday’s roundup of oil and energy news:

* * *
ONE SURGE COULD FOLLOW ANOTHER: A U.S. “troop surge” in Iraq could trigger a surge in oil prices, too, warns Bank of America chief market strategist of global wealth & investment management Joseph Quinlan, according to a Washington Wire report. Mr. Quinlan figures a troop surge could “push oil prices closer to $70 a barrel, in the near-term, knocking the wind out of the financial markets and global economy.” Then again, oil touched nearly $80 a barrel last year without having much apparent impact on financial markets or the economy.

•Pinault Keeps Options Open: French investment-holding company Artemis, controlled by billionaire Francois Pinault, said it is keeping all its options open over a possible bid for Suez. The water-and-energy conglomerate is having trouble sealing its own $60.5 billion deal with another French company. It immediately demanded that Mr. Pinault be clearer about his intentions, the Financial Times reports (subscription required).

•Chicken Fat as Fuel Source: Only a tiny fraction of U.S. biodiesel is made from chicken fat, but that seems likely to change, the Associated Press reports. The rising cost of soy-bean oil — which accounts for roughly 90% of all biodiesel fuel stock — is pushing the industry to exploit cheap and plentiful animal fats.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “THE WALL STREET JOURNAL ONLINE: Oil News Roundup: January 2, 2007 3:47 p.m.”

Leave a Comment

%d bloggers like this: