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September 5, 2008 3:51:39 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 61 - 80 of 110

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  • May 2008

    • Guess What Oil Execs Make

      Associated Press  |  May 21, 08 8:19 PM CDT

      Guess What Oil Execs Make

      (Newser) - Big Oil executives today were grilled by the Senate on soaring prices, and Sen. Patrick Leahy asked for their salaries, the AP reports. Here's what they said: J. Stephen Simon, Exxon: $12.5 millon. John Lowe, ConocoPhillips: Did not recall Peter Robertson, Chevron: Did not recall. John Hofmeister, Shell, $2.2 million. Robert Malone, BP America, $2 million. More »

    • Military at War With Rising Fuel Costs

      Wall Street Journal  |  May 21, 08 10:12 AM CDT

      Military at War With Rising Fuel Costs

      (Newser) - Fuel costs are hitting the US military harder than most, the Wall Street Journal reports, and it's moving forward with efforts to switch to synthetic, and greener, alternatives. Chugging 340,000 barrels of oil per day, the military is the nation's largest consumer; synthetic fuels and massive solar arrays are already in use, and the military is considering nuclear plants on some remote bases. 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 »

    • Whoops! Big Rally Falls Flat

      Wall Street Journal  |  May 19, 08 3:34 PM CDT

      Whoops! Big Rally Falls Flat

      (Newser) - Stocks ended mixed today, as an early rally slipped away and oil prices hit yet another record. "There are still a lot of reasons you wouldn't want to touch the market with a 10-foot pole right now," one trader told the Wall Street Journal . The Dow ended up 41.36 at 13,028.16, the Nasdaq down 12.76 at 2,516.09, and the S&P 500 up 1.28 at 1,426.63 . More »

    • Saudis Won't Budge on Oil

      Associated Press  |  May 16, 08 6:26 PM CDT

      Saudis Won't Budge on Oil

      (Newser) - Saudi Arabia's leaders today denied a request from visiting President Bush that they boost oil production to help ease rising gas prices, the AP reports. "Supply and demand are in balance today," the kingdom's oil minister said, with the commodity pushing $128 per barrel. "How much does Saudi Arabia need to do to satisfy people who are questioning our oil practices and policies?" 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 »

    • Stocks Rise on Deals, Lower Oil

      MarketWatch  |  May 15, 08 3:24 PM CDT

      Stocks Rise on Deals, Lower Oil

      (Newser) - Stocks rose for the fourth consecutive day today as deal-making buzz from Internet firms and a Tiffany’s-led retail rally offset a rise in weekly jobless claims and contraction in New York- and Philadelphia-region manufacturing, MarketWatch reports. The Dow rose 94.28, closing at 12,992.66, while the S&P 500 climbed 14.91 to settle at 1,423.75. The Nasdaq gained 37.03, to 2,533.73. More »

    • 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 »

    • Stocks Mostly Down as Oil Rally Resumes

      Wall Street Journal  |  May 13, 08 3:35 PM CDT

      Stocks Mostly Down as Oil Rally Resumes

      (Newser) - Stocks ended mostly down today as the price of oil resumed its steady rally. Crude has gained in seven of the eight last sessions, reports the Wall Street Journal . "It just keeps surprising us," said one floor trader. The Dow ended down 44.13 at 12,832.18, the Nasdaq up 6.63 at 2,495.12, and the S&P 500 down 0.54 at 1,403.04. More »

    • OPEC May Boost Oil Output to Ease Prices

      New York Times  |  May 9, 08 7:39 PM CDT

      OPEC May Boost Oil Output to Ease Prices

      (Newser) - As crude hit $125 a barrel today, one OPEC member said the cartel may boost oil production to relieve prices, the New York Times reports. The move would conflict with OPEC's public stand that speculators, not oil supplies, have been keeping prices high. “We would consider among other options the possibility of increasing output as a way to ensure market stability,” Libya's top oil official said. More »

    • Oil Breaks $125 a Barrel

      Associated Press  |  May 9, 08 8:46 AM CDT

      Oil Breaks $125 a Barrel

      (Newser) - Oil climbed over $125 a barrel today, just ahead of the US driving season and propelled by investors jumping at a weaker dollar, the AP reports. Light, sweet crude for June rose to $125.98 on the New York Mercantile Exchange today, later dropping to $124.86 in Europe. More »

    • Speculation Not Driving Boom in Commodities

      Wall Street Journal  |  May 8, 08 4:29 PM CDT

      Speculation Not Driving Boom in Commodities

      (Newser) - A majority of economists think the upswing in food and energy prices is due to fundamental issues of supply and demand—and not driven by speculation, a Wall Street Journal survey finds; 51% pegged demand from China and India as the chief cause of the oil boom. More »

    • Stocks Sink as Crude Soars

      Wall Street Journal  |  May 7, 08 3:44 PM CDT

      Stocks Sink as Crude Soars

      (Newser) - Stocks zoomed downward today as oil topped $123 a barrel, hastening a sell-off by anxious investors. "You can still get a lot of nervousness when they see these daily moves in crude, along with follow-through in the stock market," an analyst tells the Wall Street Journal . The Dow ended down 206.48 to 12,814.35, the Nasdaq 44.82 to 2,438.49, and the S&P 25.69 to 1,392.57. 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 »

  • 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 »

    • Stocks Sink on Weak Earnings, Soaring Oil

      Bloomberg  |  Apr 22, 08 3:48 PM CDT

      Stocks Sink on Weak Earnings, Soaring Oil

      (Newser) - Stocks fell today as oil prices soared and the flow of disappointing earning reports continued. Texas Instruments and UnitedHealth were both hit hard. "We're likely to see stocks continuing to be under pressure," one researcher told Bloomberg. The Dow was down 104.79 to 12,720.23, the Nasdaq 31.10 to 2,376.94, and the S&P 500 12.23 to 1,375.94. More »

    • Oil Tops Record High $113

      AFP  |  Apr 15, 08 6:44 AM CDT

      Oil Tops Record High $113

      (Newser) - Crude oil hit a new record high in trading today—$113.66 a barrel—as weary investors attempted to hedge against a tumbling dollar and oil shipments were disrupted around the world. Though the dollar is the main concern, supply problems, including OPEC's decision not to change its 2008 outlook and the closure of a top Mexican export terminal, didn't help, the AFP reports. More »

    • Oil Expected to Stay Above $100 This Year

      Wall Street Journal  |  Apr 9, 08 6:43 AM CDT

      Oil Expected to Stay Above $100 This Year

      (Newser) - A barrel of crude could end up averaging more than $100 this year, federal handicappers are predicting, just weeks after the triple-digit mark seemed like a troublesome anomaly. OPEC’s parsimony with its reserves, spiking demand worldwide and a dwindling supply outside the Middle East are conspiring to squeeze rates—and last month’s record close of $110.33 might not be the worst of it. More »

  • March 2008

    • Oil Hovers Near $102 a Barrel

      Associated Press  |  Mar 26, 08 6:16 AM CDT

      Oil Hovers Near $102 a Barrel

      (Newser) - Concern about potential supply disruptions in Iraq and American gasoline reserves pushed oil prices up for the second day in a row, despite expected news from the Energy Department that crude supplies in the US had rebounded, reports the Associated Press. The US dollar’s continued depreciation against a slew of currencies also helped inflate the price. More »

    • Stocks Rally, Flatten, End Down

      Wall Street Journal  |  Mar 12, 08 3:38 PM CDT

      Stocks Rally, Flatten, End Down

      (Newser) - Markets shot up early today, then flattened out and ended down as record oil and gas prices put a damper on things. Per-barrel oil prices hit $110.20 before landing at $109.92, the Wall Street Journal reports. The Dow ended down 46.57 to 12,110.24, the Nasdaq 11.89 to 2,243.87 and the S&P 11.88 to 1,308.77. More »

Stories 61 - 80 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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