Another Fire on an Oil Platform

Maybe this kind of stuff has been happening all the time, but hasn't been a big deal until the Deep Water Horizon incident. An oil platform about 100 miles offshore in the Gulf of Mexico exploded this morning. All 13 people aboard were rescued. No oil in the water, but the...

Posted on 09/02/2010 at 18:37.
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Oil Prices Set to Skyrocket

A fellow blogger over at oilprice.com speculates that oil prices may be going as high as $100/barrel by the end of the year.

...the fundamental assumptions of the oil industry upside down, and that sharply higher oil prices were in the cards, probably $100/barrel by year end. Major oil companies with...

Posted on 08/11/2010 at 15:59.
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2010 Hurricane Season About To Break Loose

Thank goodness BP is making such good progress on stopping the leaking well, because hurricanes are coming! June and July did not live up to predictions by the National Weather Service's Climate Prediction Center, but conditions in the Atlantic's main hurricane -forming region are now ripe. The...

Posted on 08/05/2010 at 15:57.
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Crude Rally Raises Pump Prices

The Associated Press reports that a market rally on crude oil has Americans paying more at the pump this week.

The national average for a gallon of regular unleaded rose 2.1 cents to $2.747 a gallon, according to AAA, Wright Express and Oil Price Information Service. Oil has traded above $82 for two straight days. It was around $77 a week ago. Motorists are paying about 2.3 cents more than a month ago and 18.6 cents more than a year ago.

In...

Posted on 08/04/2010 at 14:43.
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Low Confidence & Weak Dollar Drive Up Oil Price

The AFP Reports:

World oil prices were higher on Thursday, winning support from firmer equities and the weaker dollar after recent falls that were sparked by downbeat news in key consumer the United States. New York's main contract, light sweet crude for delivery in September, climbed 29 cents to 77.28 dollars a barrel. Brent North Sea crude for September gained 28 cents to 76.34 dollars in early afternoon London deals. Analysts said the weaker dollar spurred some buying because oil is traded in the US currency, making the commodity cheaper for holders of stronger units

These...

Posted on 07/29/2010 at 14:09.
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