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oil prices

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    The U.S. is exporting oil products, so why is the price of gas still high?
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    It has always been the habit of the party that doesn't occupy the White House to blame various ills on the party that does. Especially in the past few years when it has come to gas prices, the party-in-waiting has blamed the POTUS for "pain at the pump." We're not taking sides here – ...

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    Video: Presidential candidate Bachmann promises gas under $2.00/gallon if elected
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    How's this for bold? Congresswoman Michell Bachmann, a candidate for the Republican presidential nomination who won the Ames Straw Poll last weekend, has just stated that one thing we'd get with a Bachmann Administration is – ready? – cheap gasoline. According to Politico she ...

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    Report: High oil prices see sheikhs on supercar-buying binge
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    Bloomberg is reporting that the sale of high-end and exotic cars in countries like the United Arab Emirates may swell by as much as 20 percent this year. The reason? Civilized countries just can't seem to kick their thirst for gasoline, and as a result, the price of a barrel of crude oil ...

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    Report: Saudi prince worried over increasing fuel economy standards and technology
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    This may sound surprising, but Saudi Prince Al-Waleed bin Talal has gone on record saying he wants the price of oil to decrease. Why's that you ask? It's all about the long-term game, says the Saudi Royal Family's stock market and real estate magnate. In a recent interview with "CNN's Fareed ...

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    AP looks into what factors determine gas prices
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    With summer just a few precious months away, most Americans are already bracing for some of the steepest fuel prices in years. According to the Associated Press, unrest in places like Libya has seen the average price tag on a gallon of gasoline rocket skyward by 38 cents per gallon, or around 15 ...

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    Wikileaks: U.S. believes Saudi Arabia is running out of oil
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    Peak oil, according to Wikipedia, is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. Opinions vary on when the world will actually reach a peak oil scenario, but a new report detailed by Julian ...

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    DOE: Oil will average $99/barrel by end of 2012; gas $3.29 per gallon
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    According to the DOE's Energy Information Administration (EIA), crude oil prices are expected to steadily increase over the next two years, hitting $99 per barrel by the end of 2012. Tightening of world oil markets, along with a growth in consumption, will continue to drive oil prices up from the ...

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    Kuwaiti Oil Minister reportedly says OPEC won't increase production until prices hit $100/barrel
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    America might get most of its oil from Canada, but the moves that OPEC makes still reverberate here. Thus, a statement by the Kuwaiti Oil Minister Sheikh Ahmed al-Abdullah al-Sabah to reporters yesterday probably won't help decrease domestic gasoline prices any time soon. OPEC's al-Sabah said that ...

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    Interactive map reveals our global oil useage by barrel, money
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    The Rocky Mountain Institute has created a nifty interactive map that shows you where the U.S. gets its oil from, along with how much - and who - the U.S. pays for its oil. Based on the thickness of the lines, you can see just how much black stuff is coming from where. The map goes as far back as ...

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    The NYT chimes in: time for a gas tax
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    Can you hear that? Those are the war drums, and more and more of them are beating the same tune: bring on the gas tax. An editorial in The Gray Lady is the latest and arguably the weightiest to join the shock troops advocating for higher gas prices. The writer proposes a fluctuating consumption tax ...

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    Gas too cheap: OPEC approves largest output cut ever
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    You didn't really think OPEC was going to pack up its supercar fleet and shut down the holiday mansions while $1.55 gasoline -- and that's in California -- ruled the day, did you? Oh no. OPEC hasn't merely cut production, it gutted production by the never-before-seen amount of 2.2 million barrels ...

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    Obama talks oil addiction in first post-election TV interview
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    President-Elect Barack Obama thinks we have an oil addiction and he wants to do something about it. That something is developing a plan for energy independence. While that might have seemed easier to discuss when oil was at $147 a barrel, Obama thinks it's even more important to talk about now, ...

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    Gas prices pleasant as economy tanks
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    The US, and in fact the entire civilized world, is knee deep in a financial meltdown. However, crashing stock markets and crumbling banking institutions have led to one pleasant side effect. The price of gas is dropping faster than the NASDAQ. A quick trip through south-east Michigan shows that gas ...

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    Oil back below $88 on Monday
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    Simply put, the U.S. economy is in the crapper. Stocks are yoyoing and our mortgages are a fraction of what they were even a year ago. For all that's fiscally wrong here in the States, there is one pleasant side effect: the price of a barrel of oil is dropping faster than Kimbo Slice against a two ...

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    Crude oil plummets to below $100/barrel
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    The price of crude oil dropped below $100-a-barrel yesterday (its lowest level since February) as the slowing economy -- bringing with it a reduced demand for oil -- raised concerns. Interestingly enough, the drop in crude didn't affect the price of gasoline as it rose 16 cents per gallon due to ...

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    Is it over yet? Oil prices drop like a rock
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    There's been a lot of head-scratching about the exact cause of the meteoric rise in price for a barrel of oil. Are speculators driving it to turn a quick buck? Is it the weakening value of the U.S. dollar? How about increaded worldwide demand? Chances are, all those forces are playing a part in the ...

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    G8 nations ask for more oil, pledge to use less
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    It's a complex issue, this business of oil. With stock markets and unemployment numbers taking their lumps, civilian unrest at oil and food prices, and politicians weighing in with all manner of cures and pronouncements, the Group of Eight nations got together to try and figure something out. The ...

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    Oil independence possible according to DoE scientist
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    A scientist in the U.S. Department of Energy's science and energy research unit has said "Energy independence is a realistic goal for the United State of America," by 2030. There are, of course, a few caveats to that. First is that by the word "independence," he doesn't mean not using any oil ...

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    Hurricane season may bring $6-a-gallon gas
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    Don't like the weather? Just wait, it'll change. Don't like gas prices? Just wait, they'll change, too. But if the weather brings a hurricane, some experts say gas prices could hit as high as $6 a gallon.NOAA has predicted as many as nine named storms this season, with five of those possibly ...

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    Is $200/barrel oil around the corner?
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    After months of outrageous oil price spikes, we realize that the shock value of $100 to $105/barrel is fading fast, so we're going to skip ahead to $200/barrel. The finance wizards at Goldman Sachs have raised their outlook for 2008-2012 oil prices by $15 to a high end of $135 per barrel, but a ...

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