Skip to: Content
Skip to: Site Navigation
Skip to: Search

September 8, 2008 3:12:12 AM CDT

Learn about Newser Points »

The Prize: Oil track this thread

Started by S Goldstein; Last updated Feb 29, 08 5:09 AM CST by D Lim | View history

Rate it:
Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon | Edit thread | Notify editors | + Start a new thread
The Prize: Oil

"Oil is like a wild animal. Whoever captures it has it." - Jean Paul Getty, founder of Getty Oil Company

The earth's dwindling supply of this major resource is heating up debate all over the globe.

Stories

Stories 121 - 140 of 240

<< Prev 1 ... 3 4 5 6 7 8 9 10 11 12 Next >>
  • January 2008

    • Oil Hits Record $100 a Barrel

      CNN  |  Jan 2, 08 11:11 AM CST

      Oil Hits Record $100 a Barrel

      (Newser) - Crude oil prices jumped $4.02 today to push past $100 a barrel for the first time as Nigerian violence, disrupted Mexican exports, and the specter of dipping US stockpiles stoked supply fears in the face of ever-rising energy demands, CNNMoney reports. The previous record was $99.29, set November 20. More »

  • December 2007

    • 2008 Forecast: Oil Prices Dip as Supply Rises, Economy Slows

      Christian Science Monitor  |  Dec 26, 07 8:28 AM CST

      2008 Forecast: Oil Prices Dip as Supply Rises, Economy Slows

      (Newser) - A slowing US economy and rising oil production will lower the price of crude to between $80 and $85 a barrel in 2008, predicts the Christian Science Monitor . While still higher than the $71 average for 2007, it’s a drop from current prices near $93. Lower prices could ease inflation worries in the US, experts say. More »

    • Dow Chemical Sells 50% of Plastics Biz to Kuwait for $9.5B

      Bloomberg  |  Dec 13, 07 1:48 PM CST

      Dow Chemical Sells 50% of Plastics Biz to Kuwait for $9.5B

      (Newser) - Kuwait’s national oil company agreed to buy a 50% stake in Dow Chemical’s plastics divisions for $9.5 billion, marking the biggest overseas investment by a Kuwaiti firm, Bloomberg reports. CEO Andrew Liveris said Dow would benefit from cheap access to raw materials and liquid assets received from the deal, which Liveris said Dow planned to invest in specialty-chemical plastics assets. More »

    • Oil Slips Under $88 as US Economy Fuels Concern

      Associated Press  |  Dec 10, 07 6:26 AM CST

      Oil Slips Under $88 as US Economy Fuels Concern

      (Newser) - Weaker than anticipated US job growth reported Friday helped extend a decline in crude oil prices today, with futures dipping below $88 on Asian markets, reports the AP. Fears of a slowing economy and reduced demand are driving the decline. Investors had bet better employment figures would prompt the Fed to cut rates a half point, rather than an anticipated quarter point, when they meet tomorrow, continuing to weaken the dollar and strengthen oil prices. More »

    • OPEC Declines to Boost Oil Output

      New York Times  |  Dec 6, 07 10:33 AM CST

      OPEC Declines to Boost Oil Output

      (Newser) - OPEC’s decision yesterday not to boost oil production, despite prices hovering around $90 a barrel, underscores a new reality, the New York Times observes: the oil producers aim to keep prices nearly that high—say around $80 a barrel—a target unthinkable a few years ago. In the US, it means $3 a gallon at the gas pump isn’t going away any time soon. More »

    • Stocks Fall on Credit Worries

      Bloomberg  |  Dec 4, 07 3:39 PM CST

      Stocks Fall on Credit Worries

      (Newser) - Stocks fell again today after JPMorgan Chase predicted that profits would drop at big brokerages. Meanwhile, lower oil prices lowered earning prospects for energy companies, reports Bloomberg. "Until credit loosens up, you can't get a solid footing in the market," says a manager. The Dow was down 65.84 to 13,248.73, the Nasdaq 17.3 to 2,619.83, and the S&P 500 9.63 to 1,462.79. More »

  • November 2007

    • All Eyes on OPEC for Oil Price Relief

      Wall Street Journal  |  Nov 26, 07 4:18 AM CST

      All Eyes on OPEC for Oil Price Relief

      (Newser) - With oil prices poised to pass the $100 mark any day now, a pair of reports speculates that OPEC will cool the overheated market by boosting oil production, the Wall Street Journal reports. One consulting firm said OPEC, spurred by Saudi Arabia’s increased deliveries to the US, could up output by as much as 720,000 barrels a day. More »

    • Oil Tops $99 as Dollar Sinks

      Reuters  |  Nov 21, 07 4:05 AM CST

      Oil Tops $99 as Dollar Sinks

      (Newser) - The price of oil hit a record high mere pennies from $100 a barrel and the dollar sunk to a new low in early trading today. Oil hit $99.29 but slipped back to $98.64. With cold weather hitting the US, and OPEC supplies limited, some analysts think oil prices could hit the $100- a-barrel milestone as early as today. The continued drop in the dollar against other currencies is helping fuel the rise. More »

    • Demand for Oil May Pass Output by 2012

      Wall Street Journal  |  Nov 19, 07 10:07 AM CST

      Demand for Oil May Pass Output by 2012

      (Newser) - Production limits, not supply, could prompt an oil crisis in less than a decade as efforts to reduce demand and introduce alternative fuels trail growth in the world’s oil needs, the Journal reports. Oil companies currently produce 85 million barrels daily; some experts say they'll hit a wall at 100 million barrels—far below projected world demands, and a recipe for shortages and skyrocketing prices. More »

    • Greenback Assaulted at OPEC meeting

      Associated Press  |  Nov 18, 07 9:52 PM CST

      Greenback Assaulted at OPEC meeting

      (Newser) - Calling it a "small and worthless piece of paper,” Iran’s president today urged OPEC's members to drop the depreciating US dollar as its official currency. Mahmoud Ahmadinejad blamed President Bush for the dollar’s decline and its adverse effects. The comments highlight mounting tension among OPEC members, the AP reports. More »

    • Chavez Warns of $200 Oil if US Strikes Iran

      BBC  |  Nov 17, 07 6:48 PM CST

      Chavez Warns of $200 Oil if US Strikes Iran

      (Newser) - Crude oil prices could hit $150-$200 a barrel if Bush is “mad enough” to strike Iran, Venezuelan President Hugo Chavez warned today at the OPEC summit. “The basis of all aggression is oil,” said Chavez, arguing that OPEC should set itself up as “an active geopolitical agent.” Saudi Arabia’s King Abdullah countered, saying “Oil shouldn’t be a tool for conflict, [but for] development.” More »

    • Gas Prices Likely to Climb 20 Cents by Next Month

      Wall Street Journal  |  Nov 13, 07 4:41 PM CST

      Gas Prices Likely to Climb 20 Cents by Next Month

      (Newser) - Gas prices will go up at least another 20 cents in December, and they could climb further after that if OPEC doesn't increase production, says a top Energy Department forecaster. Gas prices will keep rising even if crude prices fall, says Guy Caruso, because the refiners haven't fully passed along their rising costs to the consumer yet. More »

    • US Crude Eases Below $96

      Reuters  |  Nov 12, 07 7:52 AM CST

      US Crude Eases Below $96

      (Newser) - Oil prices paused in their headlong rush to $100 a barrel today on news from the Saudis that OPEC will discuss raising output when the group's heads of state and oil ministers meet in Riyadh this week. US crude, which reached a record $98.62 Nov. 7, traded below $96 this morning. North Sea crude rose slightly after a militant attack on Nigerian facilities and storm-related production issues. More »

    • SF Oil Cleanup Gases Up, Volunteers Rebuffed

      San Francisco Chronicle  |  Nov 11, 07 6:44 AM CST

      SF Oil Cleanup Gases Up, Volunteers Rebuffed

      (Newser) - As cleanup of the San Francisco oil spill intensifies, so does the frustration of volunteers blocked from pitching in. At least one organizer ended up in handcuffs when his group ignored a park ranger's order to get off a beach and instead scooped up globs of oil. Hundreds of residents who arrived for what they thought were training sessions were told to go home because oil is "hazardous," reports the San Francisco Chronicle. More »

    • $100 a Barrel Oil Triggers Crisis

      New York Times  |  Nov 9, 07 11:11 AM CST

      $100 a Barrel Oil Triggers Crisis

      (Newser) - The planet is headed for the third major energy crisis in a generation, but this one may be more serious and last longer than the others, the Times reports. Energy crises in the '70s and '80s were triggered by interruptions in supply from the Middle East. This time around, the trigger is massive growth in global demand, particularly in developing countries. More »

    • Brazil Discovers Huge Offshore Oil Field

      Associated Press  |  Nov 9, 07 10:05 AM CST

      Brazil Discovers Huge Offshore Oil Field

      (Newser) - A huge offshore oil field found off the coast of Rio de Janeiro has the potential to make Brazil one of the world's top oil exporters, the AP reports. The Tupi field could hold 8 billion barrels, but it's very deep and will be difficult and expensive to drill. The state oil company Petrobras says full-scale extraction is unlikely to begin until 2013. More »

    • Slow Response Slammed in SF Bay Oil Disaster

      San Francisco Chronicle  |  Nov 9, 07 8:17 AM CST

      Slow Response Slammed in SF Bay Oil Disaster

      (Newser) - As Bay Area residents braved noxious oil to rescue oil-covered seabirds, officials asked why the emergency response to Wednesday's spill had been "unusually slow." The oil slick spread dozens of miles along the San Francisco and Marin coastlines, contaminating beaches and coating marine life, in the hours before the Coast Guard disclosed the scope of the spill, the San Francisco Chronicle reports. More »

    • Big Industries Joust Over Energy Prices

      Wall Street Journal  |  Nov 8, 07 2:18 PM CST

      Big Industries Joust Over Energy Prices

      (Newser) - US industries are at each other’s throats over energy policy as each sector tries to protect its own interests. A prime example came last year, when Dow Chemical's push for tougher automobile fuel-economy standards—which would help keep a lid on Dow's oil expenditures—ran afoul of automakers, who stand to suffer from such legislation and are huge Dow clients. More »

    • Tanker Crash Spilled 'Nastiest' Oil Into SF Bay

      San Francisco Chronicle  |  Nov 8, 07 9:46 AM CST

      Tanker Crash Spilled 'Nastiest' Oil Into SF Bay

      (Newser) - A massive container ship traveling in dense fog crashed into the San Francisco’s Bay Bridge yesterday, spilling 58,000 gallons of noxious oil lethal to marine life. It was unclear whether mechanical or human error was at fault, but a spill cleaner said the bunker fuel oil is “the nastiest stuff around” and breaks down particularly slowly, the Chronicle reports. More »

    • Soaring Oil Prices Create New Winners, Losers

      New York Times  |  Nov 7, 07 6:51 PM CST

      Soaring Oil Prices Create New Winners, Losers

      (Newser) - With oil prices inching toward the $100-a-barrel mark, the New York Times looks at how soaring prices are redrawing the world's power grid: from oil-rich nations swimming in cash to oil-importing nations "clawing at each other to lock up scarce supplies."  In Venezuela, oil is funding a socialist revolution; in Russia and Norway, it's fueling mammoth new investment funds that could have huge impact on world markets. More »

Stories 121 - 140 of 240

<< Prev 1 ... 3 4 5 6 7 8 9 10 11 12 Next >>
Prices at a gas station are shown Tuesday Nov. 6, 2007 in North Miami Beach, Fla. Oil futures jumped to a new record above $97 a barrel Tuesday and the national average price of a gallon of gas jumped...   (Associated Press)
In this undated file photo provided by Mexico's national oil company, Pemex, on June 13, 2006, an offshore oil installation is seen in the gulf of Mexico near the coast of Campeche, Mexico. Petrobras...   (Associated Press)
  (Index Open (http://www.indexopen.com))
  (Index Open (http://www.indexopen.com))
« Prev« Prev | Next »Next » Slideshow
The Impending Oil Crisis   (emirateshadow (YouTube))

« Prev« Prev | Next »Next »

Related Threads

Gas Gets Pumped Up  •  Energy  •  How High Will Oil Go?  •  Will the Wells Run Dry?  •  Climate Change  •  The Markets  •  Environment  •  The Dow  •  McCain 2008  •  Going Green

Background

oil industry
The Columbia Encyclopedia, Sixth Edition

oil industry the business of discovering oil ( petroleum ), extracting it from the ground, refining it into a variety of products, and distributing it to the public. The development of the oil industry in the 19th and 20th cent. provided a source of energy that now supplies about two fifths of ...

» Read more about oil industry at Encyclopedia.com

More Recommend Reading

Premium Articles from HighBeam

Find more articles like this

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »