oil prices

Oil and gas prices surge to new 2009 highs

Shelby Bateson — Thu, 15 Oct 2009 11:34:00 -0500

Oil prices are surging today on Wall Street. After trading within the narrow range of $65 to $75 per barrel for the last ten weeks, oil prices are on the move. Currently oil is trading above $77 per barrel, up almost $2 on the day, and at its high level for the year.

US tax breaks subsidize foreign oil production

harminka — Fri, 18 Sep 2009 09:17:29 -0500

The largest U.S subsidies to fossil fuels are attributed to tax breaks that aid foreign oil production, according to research to be released on Friday by the Environmental Law Institute (ELI) in partnership with the Woodrow Wilson International Center for Scholars. The study, which reviewed fossil fuel and energy subsidies for Fiscal Years 2002-2008, reveals that the lion's share of energy subsidies supported energy sources that emit high levels of greenhouse gases.

OPEC 152nd Meeting Keeps Oil Unchanged

Armen Hareyan — Sun, 15 Mar 2009 16:05:11 -0500

The 152nd OPEC Meeting convened in Vienna, Austria, on 15th March 2009, under the Chairmanship of its President, HE Eng. José Maria Botelho de Vasconcelos, Minister of Petroleum of Angola. OPEC meeting refrained from cutting the oil output. OPEC will meet again on May 28 of 2009 to discuss the oil prices and the output.

China's Energy Demand Increases Pressure On Sources

aboey — Fri, 28 Nov 2008 00:55:02 -0600

China’s escalating energy consumption places increasing stress on the world’s energy prices, leading to mounting global pressures to seek potential energy supplies through technology and exploration.

Falling Oil Prices Ease Economic Pain in Asia

Armen Hareyan — Wed, 19 Nov 2008 06:43:13 -0600

Oil prices are now more than 60 percent off their record highs in July. Although the oil price still remains above $50 a barrel, in Asia, consumers and governments are benefitting from the decline. VOA's Kate Pound Dawson in Bangkok takes a look at what cheaper oil means for the region.

Oil prices drop as inventories grow

Armen Hareyan — Fri, 17 Oct 2008 07:59:32 -0500

International oil prices sank on Thursday as investors worried that a looming global recession will lower demand for crude oil.

Oil Is Up $20 in One Day

Armen Hareyan — Mon, 22 Sep 2008 14:02:31 -0500

It appears our turbulent economic situation has just spilled over into the oil market. The dollar, obviously driven down by our current economic mess, is losing value fast. So people are trading their dollars in for oil and gold. As a result, crude closed around $120 a barrel today.

Oil Falls More Than Dollar In Asia

Armen Hareyan — Tue, 16 Sep 2008 01:45:00 -0500

Oil prices dropped more than U.S. Dollar in Asian trade on Tuesday after the collapse of US investment bank Lehman Brothers accentuated fears for global economic health.

Gustav Bludgeons Oil Prices, Spares People

erku — Tue, 02 Sep 2008 10:54:05 -0500

In a great twist of irony, Hurricane Gustav did more for lowering the nation's gas bills than any of our congressmen could muster. Forget about "evil speculators."

Oil price hangs around USD 120 after pipeline shutdown

Armen Hareyan — Fri, 08 Aug 2008 08:00:56 -0500

Oil prices held around USD 120 a barrel in Asian trade on Friday on jitters sparked by the disruption of a pipeline carrying crude from Central Asia to the West, dealers said.

Exxon's Reports Biggest Quarterly Profit Ever By Any U.S. Corporation

Armen Hareyan — Thu, 31 Jul 2008 08:53:43 -0500

Exxon Mobil doesn't say its earnings are the biggest every, but says rather in a more modest way. It's the calculators and the analysts are the once who said that Exxon made the biggest quarterly profit ever made by any U.S. company. I thought it was earlier said that the Oil companies do not benefit and don't like the rising oil prices...

How to Bring Down Oil Prices Now

Armen Hareyan — Mon, 28 Jul 2008 11:44:00 -0500

Economists have ignored in the name of free trade the unfortunate consequences of the trade deficits which are rapidly converting us into a second-rate power and turning our enemies and potential enemies into industrial powers. Imports of oil are responsible for nearly half of the trade deficit so far this year.