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ASSISTANT SECRETARY ALLRED TO ANNOUNCE PUBLICATION OF FINAL OIL SHALE REGULATIONS

Article from: US Fed News Service, Including US State News Article date: November 17, 2008

The U.S. Department of the Interior issued the following media advisory:

Interior Assistant Secretary of Land and Minerals Management C. Stephen Allred today will announce the publication of final regulations to establish a commercial oil shale program that could result in the addition of up to 800 billion barrels-equivalent of recoverable oil from public lands in the Western United States.

News media representatives wishing to participate in the 2 p.m. moderated teleconference should call 1-888-677-0863 and enter the passcode oil shale. A news release on the final regulations will be posted ...

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Oil Slips Below $120 a Barrel on Eroding Demand

Posted Aug 5, 08 9:16 AM CDT in US,  Business 

Oil Slips Below $120 a Barrel on Eroding Demand
Source: AP Photo/Lisa Poole

(AP) – Oil prices fell below $120 a barrel today on expectations that the US economic downturn will erode consumer demand for crude products, the AP reports. The dollar's gains against the euro also contributed to lower prices. Crude futures have fallen about $27, or about 18%, since reaching a record high of $147.27 on July 11.

"The main factor weighing on oil prices is worries about oil consumption being weakened, especially in the US," commented one commodity strategist. Analysts at JBC Energy said the fact that markets were seemingly downplaying bullish factors like Tropical Storm Edouard and the Iran nuclear situation was a sign that "there is significant underlying bearish sentiment at play."

More about:  oil

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