Oil Slick Stuff

Sort by newest Sort by date
Big Oil attacked over record gas prices.
Big Oil went on the defensive Wednesday, getting grilled before a House panel and denying accusations that mismanagement and a lack of competition are the reasons behind this spring's record gasoline prices. Gas prices hit $3.10 a gallon Wednesday, according to AAA. It's the fourth record day in a row, and the surge has been attributed to low gasoline supplies caused by a lack of refining capacity. They have no interest in building spare capacity because that would undermine their pricing power.
http://money.cnn.com/2007/05/16/news/economy/gas_prices/index.htm
 
Thanks Fivetears!!
I was waiting for this!!!! CROOKS like I said, they had a plan!!
To continue the last post:
But he said the domestic refining industry has continued to consolidate, allowing operators to shun building refineries, run existing ones at full throttle and thus cause many of the accidents and outages the nation has experienced over the last few months.
"This is just mismanagement," he said. "But they get away with it because there is no competitive discipline."
Others at the hearing said Congress should use its power to regulate monopolies and break up the big oil companies if it is found they have violated the (more)law.http://money.cnn.com/2007/05/16/news/economy/gas_prices/index.htm
 
$62.98 +.43 at 07:21:mad:

Oil rises toward $63 on gas supply concerns

Refinery shutdowns in the United States keep worries bubbling over a summer supply crunch, despite ample gas imports.

May 17 2007: 6:05 AM EDT


LONDON (Reuters) -- Oil climbed towards $63 a barrel on Thursday, supported by refinery closures that are cutting gasoline supplies in top consumer the United States just ahead of the summer driving season.
U.S. crude futures gained 41 cents to $62.96 a barrel.
http://money.cnn.com/2007/05/17/markets/oil.reut/index.htm?postversion=2007051706
 
Last edited:
DUUHH! It's about time!

Big Oil attacked over record gas prices

Critics tell House panel that mismanagement, lack of competition are behind record prices; call for gas reserve, possible oil company breakup.

By Steve Hargreaves, CNNMoney.com staff writer
May 16 2007: 6:09 PM EDT

NEW YORK (CNNMoney.com) -- Big Oil went on the defensive Wednesday, getting grilled before a House panel and denying accusations that mismanagement and a lack of competition are the reasons behind this spring's record gasoline prices.
Gas prices hit $3.10 a gallon Wednesday, according to AAA. It's the fourth record day in a row, and the surge has been attributed to low gasoline supplies caused by a lack of refining capacity.
6 ways to lower gas prices

At the hearing, monitored on television in New York, Cooper was just as blunt.
"This is a picture of fundamental market failure," he said. "And Congress and the administration have stood by and done nothing to help consumers."
http://money.cnn.com/2007/05/16/news/economy/gas_prices/index.htm?postversion=2007051618
 
Last edited:
$63.88 +1.33 at 12:29 Slicker!!!:nuts: Crooks

05/17/2007 - Updated 11:01 AM ET

1.gif
Gasoline futures rally, lift crude to a 2-week highNatural-gas prices gain after supply rise meets expectations
1.gif

By Myra P. Saefong, MarketWatch & Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Reformulated-gasoline futures rallied Thursday, leading crude futures to their highest level in two weeks as traders fretted about high-demand expectations for gasoline during the summer-driving season.
It's all about "demand, demand, demand," said John Person, president of NationalFutures.com. "Gasoline is the life blood of commerce ... [and] gasoline prices above $3 are not hindering demand."
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BCF0053CC%2D71F4%2D4EC6%2DBA06%2D93C8DBF14F24%7D
 
Last edited:
$3.19 here in beautiful Kentucky this morning...

*sighs*

I cant imagine what everyone else is paying at the pumps these days.
 
Nnuut,
It seems that the market gets volitile around May when "Crude" shoots up in anticipation of the "Driving season"?
What is the old saying? My head feel better when I stop banging it against the wall!....:cheesy:
It's fishing season!!!!!......:D
Spaf
 
Currently SLC $65.03 +.17 at 07:28 So Darn slippery I fell down 3 times this morning! Europe Markets might like this!!:mad:

Oil steady after previous session's gains

Glitch at major Louisiana refinery continues to raise fears that gas supplies may be tight during summer driving months.

May 18 2007: 6:07 AM EDT


SINGAPORE/LONDON (Reuters) -- Oil prices were steady around $65 on Friday, after surging in the previous session on fears that new problems at U.S. refineries will constrict gasoline supplies already at unusually low pre-summer levels.
U.S. crude rose 13 cents to $64.99 after rallying 3.7 percent on Thursday. (more)
http://money.cnn.com/2007/05/18/markets/oil.reut/index.htm?postversion=2007051806
 
You must log in or register to reply here.
Back
Top