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October 7, 2008 11:34:14 PM CDT

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Stories related to: oil

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  • May 2008

    • Greens Blast Arctic 'Carve Up'

      Guardian (UK)  |  May 29, 08 4:49 AM CDT

      Greens Blast Arctic 'Carve Up'

      (Newser) - Environmentalists are slamming an agreement reached at a closed-door meeting among nations with Arctic claims as a resource free-for-all, the Guardian reports. Ministers from the US, Canada, Russia, Denmark, and Norway insist they simply agreed to abide by the law of the sea—but green groups charge that the nations are arranging who'll get to grab resources as global warming melts the ice. More »

      Tags

      oil  • Arctic  • ice melt  • Arctic race  • Arctic Sea

    • Rockefellers Pump Exxon Execs for Changes

      Wall Street Journal  |  May 24, 08 1:58 PM CDT

      Rockefellers Pump Exxon Execs for Changes

      (Newser) - Executives at Exxon are bracing for an onslaught from the Rockefeller family, whose patriarch founded the oil firm’s predecessor a century ago, the Wall Street Journal reports. Led by John D. Rockefeller’s great-granddaughter, the family wants Exxon to pursue renewable forms of energy and appoint an independent chairman. More »

    • Who Cares Who We Talk to?

      New York Times  |  May 21, 08 1:42 PM CDT

      Who Cares Who We Talk to?

      (Newser) - Though politicians and pundits alike are caught up in which foes the US should or shouldn't be reaching out to, Thomas Friedman, in the New York Times , points out that few world leaders of any stripe are sitting by the phone waiting for our call. Waning American influence and the rise of new powers in the developing world and outside the state system worry Friedman much more. More »

    • Oil Tops $130

      Associated Press  |  May 21, 08 8:30 AM CDT

      Oil Tops $130

      (Newser) - Oil set yet another record today, with prices hitting $130.47 a barrel in electronic trading in Asia and Europe, the AP reports, on supply concerns and renewed worries about the dollar. Crude closed at $128.98 in the last New York Mercantile Exchange session. Oil futures have roughly doubled over the past year. More »

    • Oil Surges; Markets Record Weekly Gains

      Bloomberg  |  May 16, 08 3:27 PM CDT

      Oil Surges; Markets Record Weekly Gains

      (Newser) - Stocks fell, then climbed back almost to opening levels today to wrap up a generally strong week. Yet another record oil price—almost $128 a barrel—drove early losses, and a report of the lowest consumer-confidence rating in 28 years did not help. The Dow closed down 5.86 at 12,986.80, and the Nasdaq dropped 4.88, closing at 2,528.85. The S&P 500 gained 1.78 to close at 1,425.35. More »

    • Congress Turns on Speculators in Oil Bubble

      BusinessWeek  |  May 15, 08 7:22 PM CDT

      Congress Turns on Speculators in Oil Bubble

      (Newser) - It’s not OPEC pulling oil prices to ever greater-heights—it’s speculators. That’s the theory behind the Consumer-First Energy Act, a bill sponsored by Senate Democrats aimed at clamping down on runaway oil futures trading. As stocks fall, investors are fleeing to commodities, especially oil. But even the US government might not have the power to rein in the market, BusinessWeek reports. More »

      Tags

      oil price  • oil  • commodities  • futures market  • speculation  • commodities exchange

    • Congress Votes to Stop Stockpiling Oil

      New York Times  |  May 13, 08 9:44 PM CDT

      Congress Votes to Stop Stockpiling Oil

      (Newser) - The House and Senate voted today for a pause in deposits to the Strategic Petroleum Reserve in an effort to stem rising prices, the Los Angeles Times reports. The White House expressed skepticism about the measure, but the Senate backed it 97-1 and the House passed a similar bill 385-25. It is expected to be sent to Bush within days. More »

    • 'Super-Spike' Could Drive Oil to $200

      Wall Street Journal  |  May 7, 08 8:35 AM CDT

      'Super-Spike' Could Drive Oil to $200

      (Newser) - A “super-spike” could push oil beyond $150 a barrel by October, the highest it been in more than 135 years, experts say. That would drive the price at the pump past $4.50 a gallon and trim US economic output 3.3% in the 2 years following, reports the Wall Street Journal. Crude sold for a record $121.84 yesterday, up 96% from a year ago. More »

      Tags

      gas prices  • oil price  • oil  • crude oil  • electricity  • oil supply

  • April 2008

    • OPEC Head Warns Oil Could Hit $200 a Barrel

      Daily Telegraph (UK)  |  Apr 29, 08 5:26 AM CDT

      OPEC Head Warns Oil Could Hit $200 a Barrel

      (Newser) - The president of the oil-producing cartel OPEC has warned that the price of the black gold could spike as high as $200 a barrel. As crude hovered just below the $120 barrier, Chakib Khelil told an Algerian newspaper that disruptions in production in Britain and Nigeria, coupled with a weak dollar and investor speculation, will keep prices rising. More »

      Tags

      oil  • crude oil  • OPEC  • oil production

    • BP Strike Shuts Down Top UK Oil Refinery

      Associated Press  |  Apr 27, 08 1:27 PM CDT

      BP Strike Shuts Down Top UK Oil Refinery

      (Newser) - Britain is facing an oil pinch after workers walked off a Scottish oil refinery today over pension issues, the AP reports. The 48-hour BP strike will halt 700,000 barrels of UK oil a day, nearly one-third of its North Sea supply. But 10 Downing St. is urging drivers not to hoard gas. "There is plenty of petrol and diesel in Scotland to meet demand during this time," one official said. More »

      Tags

      oil  • strike  • oil refineries  • labor strike  • BP  • pipelines

    • Should Bush Tap Strategic Petroleum Reserve?

      Christian Science Monitor  |  Apr 24, 08 11:58 AM CDT

      Should Bush Tap Strategic Petroleum Reserve?

      (Newser) - The government is pumping 60,000 barrels of oil a day into a “rainy day” reserve, but with oil prices at a record high, many argue that it’s already raining. That includes the presidential candidates, all of whom want to at least stop adding to the Strategic Petroleum Reserve—and Hillary Clinton wants to release some of it. But President Bush maintains that the reserve is untouchable. More »

  • March 2008

    • Feds Indict Pilot in SF Oil Spill

      San Francisco Chronicle  |  Mar 17, 08 6:17 PM CDT

      Feds Indict Pilot in SF Oil Spill

      (Newser) - The pilot of a ship that dumped 53,000 gallons of oil in San Francisco Bay last year was indicted today, the San Francisco Chronicle reports. John Cota faces two federal misdemeanor charges, for releasing a pollutant and killing migratory birds; at least 2,000 birds died in the spill. His attorney called the filing premature because the NTSB is still probing the incident. More »

      Tags

      environment  • oil  • oil spill  • environmental damage  • Cosco Busan  •