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September 6, 2008 1:59:50 AM CDT

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How High Will Oil Go? track this thread

Started by Imperator; Last updated May 15, 08 8:12 PM CDT by P Spain | View history

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How High Will Oil Go?

When George W. Bush became president the price of oil was around $29 a barrel. It is now about 4x higher. Pretty good job for a guy who started life as an "awl man."

Stories

Stories 21 - 40 of 110

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  • July 2008

    • Markets Surge on Oil, Financials

      Wall Street Journal  |  Jul 16, 08 3:27 PM CDT

      Markets Surge on Oil, Financials

      (Newser) - The markets rallied big today, as the price of oil fell for a second day and financials regained some of the ground lost in recent chaotic sessions, the Wall Street Journal reports. The Dow gained 276.74 to go back over the 11,000 mark, at 11,239.28. The Nasdaq rose 69.14, settling at 2,284.85, and the S&P 500 gained 30.45, closing at 1,245.36. More »

    • Why $8 Gas Would Be Awesome

      Los Angeles Times  |  Jul 11, 08 11:17 AM CDT

      Why $8 Gas Would Be Awesome

      (Newser) - Gas, as you may have heard, has topped $4 a gallon, and Joel Stein of the LA Times loves it. "Cheap gas is unfair," he argues, tongue mostly in cheek. Heck, why not make it $8 or even $10 a gallon, as in Europe, "where they have fewer road deaths even though they drive like complete idiots"? More »

    • Stocks Decline as Fannie, Freddie Fall, Oil Leaps

      Associated Press  |  Jul 11, 08 9:56 AM CDT

      Stocks Decline as Fannie, Freddie Fall, Oil Leaps

      (AP) - Stocks tumbled this morning as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory. The Dow fell more than 170 points and neared the 11,000 mark for the first time in two years. Investors seemed unimpressed by a statement from Treasury Secretary Henry Paulson, who said the government's focus is ensuring that Fannie and Freddie remain as presently constituted to carry out their mission. More »

    • Gas Use Hits Record Low, Prices Still Sky High

      Wall Street Journal  |  Jul 10, 08 2:21 AM CDT

      Gas Use Hits Record Low, Prices Still Sky High

      (Newser) - Soaring gas prices are changing Americans driving habits, cutting consumption to the lowest levels in five years, reports the Wall Street Journal. Gas consumption dropped by 3.3% to 9.3 million barrels a day compared with last year's Fourth of July holiday. Some 62% of Americans are changing summer plans because of rising gas prices, and 15% have canceled vacations altogether. More »

    • Tech Triggers Big Drop

      Wall Street Journal  |  Jul 9, 08 3:37 PM CDT

      Tech Triggers Big Drop

      (Newser) - Stocks fell today as investors saw weakness across the economy, particularly in tech bellwethers Cisco and Intel, MarketWatch reports. Oil also rebounded from a two-day fall, trading up 65 cents to $136.69 a barrel. The Dow fell 236.77, closing at 11,147.44. The Nasdaq shed 59.55 to close at 2,234.89, and the S&P 500 lost 29.01, settling at 1,244.69. More »

    • Stocks Surge on Oil, Fed News

      MarketWatch  |  Jul 8, 08 3:38 PM CDT

      Stocks Surge on Oil, Fed News

      (Newser) - The markets made strong gains today as crude futures fell more than $5 and the Fed took steps to shore up the housing market, MarketWatch reports. The Dow gained 152.25 points, its biggest jump in a month, to close at 11,384.21. The Nasdaq rose 51.10 points to 2,294.42, and the S&P 500 rose 21.39 points to 1,273.70. More »

    • Oil Drops, but Rally Fades

      MarketWatch  |  Jul 7, 08 3:38 PM CDT

      Oil Drops, but Rally Fades

      (Newser) - The markets saw modest losses today after a rally spurred by a drop in crude prices sputtered over capital concerns at Fannie Mae and Freddie Mac, MarketWatch reports. The Dow fell 56.58 to 11,231.96, the Nasdaq dropped 2.06 to 2,243.32, and the S&P 500 fell 10.59 to 1,252.31. More »

    • $6 Gas Possible by Year's End

      Wall Street Journal  |  Jul 7, 08 7:38 AM CDT

      $6 Gas Possible by Year's End

      (Newser) - As oil flirts with $150 a barrel, nearly double its price from last year, the specter of $6 a gallon gas at US pumps has become more real. A plethora of factors—from the threat of conflict with Iran to tight supplies and a weak dollar—continue to exert upward pressure on crude prices, the Wall Street Journal reports. More »

    • Oil Gushes Past $145

      Associated Press  |  Jul 3, 08 7:07 AM CDT

      Oil Gushes Past $145

      (Newser) - The specter of conflict in Iran and a surprisingly large decline in US stockpiles pushed European oil prices above $145 today for the first time, reports the AP . A further weakening of the dollar, if the European Central Bank raises interest rates as expected later today, could push prices even higher. Crude has risen more than 50% since the end of 2007. More »

  • June 2008

    • Mixed Results Cap Ugly June

      CNNMoney  |  Jun 30, 08 3:39 PM CDT

      Mixed Results Cap Ugly June

      (Newser) - Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98, and the S&P up 1.62 to 1,280.00. Each of the major indices was down at least 8.6% for the month. More »

    • What if Oil Hits $200?

      Los Angeles Times  |  Jun 28, 08 3:35 PM CDT

      What if Oil Hits $200?

      (Newser) - Wall Street has predicted $200-per-barrel oil for months, but what if it really happens? Not only drivers would be hurt by such a spike, the Los Angeles Times reports: Inflation would skyrocket as oil-derived products turn pricey and "the purchasing power of the American people would be kicked in the teeth so darned hard that they won't have the ability to buy much of anything,” one energy expert predicted. More »

    • $142 Oil Drives Stocks Down

      MarketWatch  |  Jun 27, 08 3:29 PM CDT

      $142 Oil Drives Stocks Down

      (Newser) - The markets fell today, continuing the slide that marked yesterday’s session. Investors continued to mull the tidal wave of bad news that hit the financial, tech and consumer discretionary sectors Thursday, MarketWatch reports. The Dow fell 104.46 to 11,348.96, the Nasdaq lost 5.74 to close at 2,315.63, and the S&P 500 dropped 4.68, closing at 1,278.47. More »

    • Oil Breaks Record, Climbs Above $141

      Associated Press  |  Jun 27, 08 7:27 AM CDT

      Oil Breaks Record, Climbs Above $141

      (AP) - Oil prices climbed above $141 a barrel in Asian trading today—another record—as the dollar's protracted slump prompted investors to flock to oil as a hedge against inflation. Prices also were lifted yesterday after OPEC's president said crude prices could go higher than $150 a barrel this year and Libya said it may cut oil production. More »

    • Saudis May Boost Oil Supply Even Higher

      Bloomberg  |  Jun 22, 08 4:11 PM CDT

      Saudis May Boost Oil Supply Even Higher

      (Newser) - A hastily organized summit meeting in Saudi Arabia today offered little relief to oil consumers, Bloomberg reports. The Saudis did vow to increase production if needed, but OPEC blamed speculators and the credit crisis, not markets, for surging oil prices. "Saudi Arabia is prepared and willing to produce additional barrels of crude above and beyond the 9.7 million barrels per day," a Saudi minister said. More »

    • Nigerian Youths Blow Up Oil Pipeline

      Reuters  |  Jun 22, 08 3:19 PM CDT

      Nigerian Youths Blow Up Oil Pipeline

      (Newser) - A youth gang blew up a Chevron pipeline in Nigeria yesterday, reducing output from the world's eighth-largest oil producer by 120,000 barrels a day. Such attacks are common in Nigeria, Reuters reports: Sparked by poverty and hatred of foreign companies, militants have cut oil production there by one-fifth over the past 2 years. More »

    • Oil-Addicted Bush Must Kick the Habit

      New York Times  |  Jun 22, 08 6:32 AM CDT

      Oil-Addicted Bush Must Kick the Habit

      (Newser) - The American thirst for oil is like a drug addiction, and George Bush wants another hit, writes Thomas Friedman in the New York Times . Bush’s irresponsible energy plan involves getting a little more oil from Saudi Arabia to keep prices low, and then drilling in Alaska—simply prolonging our addiction instead of allowing high fuel prices to push us toward better sources of energy, adds Friedman. More »

    • Goodbye, RV: Hello, Real Travel

      Chicago Tribune  |  Jun 20, 08 7:59 PM CDT

      Goodbye, RV: Hello, Real Travel

      (Newser) - With gas prices up and on the rise, your Winnebago may soon be stuck in park—but the fall of car culture's ugliest offender will force us to reconnect with better pastimes, writes Garrison Keillor in the Chicago Tribune . “Banjo sales will pick up,” Keillor writes. “The screened porch will come back in style. And the art of storytelling will burgeon along with it.” More »

    • Dow Plummets to Below 12,000

      MarketWatch  |  Jun 20, 08 3:34 PM CDT

      Dow Plummets to Below 12,000

      (Newser) - The markets tumbled today to lows not seen since the Bear Stearns fiasco in March, MarketWatch reports. Oil surged back over $135 a barrel, erasing yesterday’s meager gains, and bad news continued to depress financials. The Dow fell 220.40 to 11,842.69, the Nasdaq 55.87 to 2,406.09, and the S&P 500 24.90 to 1,317.93. More »

    • McCain Pander on Drilling Disappoints

      New York Times  |  Jun 20, 08 8:30 AM CDT

      McCain Pander on Drilling Disappoints

      (Newser) - It's nothing new for the Bush administration to blame environmentalists for energy shortages, writes Paul Krugman in the New York Times . As early as 2001, Dick Cheney blamed green laws rather than rapacious energy companies for the California electricity shortage. But it's disappointing that John McCain has joined the bandwagon—especially as he, unlike Barack Obama, voted against Bush's "really terrible, special-interest-driven" 2005 energy bill. More »

    • China Jacks Up Energy Prices

      Wall Street Journal  |  Jun 19, 08 1:13 PM CDT

      China Jacks Up Energy Prices

      (Newser) - China will raise domestic energy prices starting tomorrow, the Wall Street Journal reports, with gas and diesel costs jumping 18%. China’s heavily subsidized fuel is still cheaper than international rates, and the move may be an attempt to appease foreign governments, who blame Beijing's intervention for letting demand rise unchecked in the world's second-largest oil consumer. More »

Stories 21 - 40 of 110

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Chart shows crude oil prices; 1c x 2 7/8 inches; 46.5 mm x 73 mm   (Associated Press)
Oil storage tanks in Linden, N.J. are shown in this aerial photo of Wednesday, Aug. 29, 2007. Oil prices extended their rise above $78 a barrel Wednesday, Sept. 12, 2007 after finishing at a record close...   (Associated Press)
An oil rig stands 11 June 2007 Big Valley, Alberta, Canada. ...   (Getty Images)
An offshore oil installation is seen in the gulf of Mexico near the coast of Campeche, Mexico. Crude oil prices are expected to break $100 a barrel this week.(AP Photo/Pemex)   (Associated Press)
The price of a barrel of crude oil soared to a record $105.96.   (Getty Images)
A U.S. one dollar note is seen among other foreign currencies at Foreign Currency Express in downtown Los Angeles. The value of the dollar continues to shrink.   (Associated Press)
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CERA's Yergin Predicts 2008 Oil Prices   (seanyout (YouTube))

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Related Threads

The Prize: Oil  •  Gas Gets Pumped Up  •  Energy  •  The Markets  •  The Dow  •  Will the Wells Run Dry?  •  Is It Recession?  •  Not-So-Almighty Dollar  •  China  •  Saudi Arabia

Background

Organization of Petroleum Exporting Countries
The Columbia Encyclopedia, Sixth Edition

Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. Its Board of Governors and board chairperson are elected by member nations; OPEC's headquarters ...

» Read more about Organization of Petroleum Exporting Countries at Encyclopedia.com

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