Are the days of the SUV and large gas-guzzlers over? The New York Times reports how “Soaring gas prices have turned the steady migration by Americans to smaller cars into a stampede.” According to the Times: “In what industry analysts are calling a first, about one in five vehicles sold in the United States was … Read More
Gas Prices
Iraq War Fuel Costs Soar
So you think you’re being ripped off by Big Oil? Spare a thought for the poor old American military in Iraq that is burning fuel at a staggering rate. Military units pay an average of $3.23 a gallon for gasoline, diesel and jet fuel, some $88 a day per service member in Iraq, according to … Read More
Big Oil’s Biggest Joke…
“On April Fools’ Day, the biggest joke of all is being played on American families by Big Oil,” so said Edward J. Markey chairman of the House Select Committee on Energy Independence and Global Warming. In front of him sitting like peas in a pod were the executives from Exxon Mobil, Shell Oil, BP America, … Read More
Twelve Dollars a Year
In the late winter of 2006, the citizens of Burlington, Vermont prepared to elect one of five candidates to a three-year term for an open mayor’s seat. At one forum, a citizen stood up and asked, “Within the next mayoral term, it’s likely the price of oil will hit $90 a barrel and gas will … Read More
Big Oil Sued Over Price-Fixing
A group of California gasoline station owners have filed suit in a US federal district court in San Francisco accusing Big Oil of fixing gasoline prices across the United States from 1998 to 2001. The suit claims that Texaco, state-owned Saudi Aramco and Royal Dutch Shell colluded to set gasoline sold to 23,000 Texaco and … Read More
Victims of Oil
The shop around the corner raised the price of sandwiches by a quarter this week. Although the housing meltdown is raising concerns that it may take the whole American economy down with it, prices are going up and the reason is the cost of oil. Oil, and therefore gas, prices remain at near-record levels. A … Read More
Refining Shortage Causes High Gas Prices
America’s high gas prices are being caused, in part, by what has been called an “invisible hurricane” – have been plagued by a record number of fires, power failures, leaks, spills and breakdowns this year, causing dozens of them to shut down temporarily or trim production. These mechanical breakdowns have created a bottleneck in domestic … Read More
House OKs Gas-Price Gouging Bill
With gasoline prices at record highs, the U.S. House has passed a bill that makes gas-price gouging a federal crime. Washington Senator Maria Cantwell has pushed such legislation for two years in the Senate, and the Majority Leader Harry Reid said he would bring up her bill in June. The House vote provoked an immediate … Read More
Oil Rises Above $65 a Barrel
It was a week of record gasoline prices in the US last week, with and things could get worse for America’s thirsty vehicles. Oil prices climbed above $65 a barrel amid concerns that U.S. refiners are not producing enough gasoline to meet peak summer demand. The volatile situation in Nigeria is also keeping the markets … Read More
Big Oil Grilled By House Anti-Trust Panel
Big Oil went on the defensive this week, being grilled before a House Judiciary Committee antitrust panel. It denied denying accusations that mismanagement and a lack of competition are the reasons behind this spring’s record gasoline prices in the US. Already there have been four record prices this week. The surge has been attributed to … Read More