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OilPrices

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    China's Qaidam oil sands test a-okay, daily crude production could reach 700 tons
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    Oil sand samples obtained from the Yousha Mountain in the Qaidam basin located in the northwestern region of China have been sampled, tested and deemed "feasible" for further development and exploration. As the China Petroleum Daily reports, samples contain a high percentage of clean oil that ...

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    What's the "real" cost of gas? Dollar figures don't tell the whole story
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    Opening an article with the question, "how much does gas cost?" seems like it requires a fairly straightforward answer. You could hop in your car, drive to the nearest gas station and answer it in no time. Similarly, you could hit up the site GasBuddy and find an answer even quicker. Using either ...

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    Poll: Americans favor raising gas mileage requirement to 50 mpg
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    Fuel efficiency has been a hot topic as of late, both for consumers looking to ease their financial and environmental burdens and for automakers hoping to meet the latest round of government-mandated mileage requirements. A few months ago in late March – importantly, that means the survey ...

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    U.S. military warns of oil production shortage by 2015
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    The U.S. military thinks we're one step closer to peak oil, the point at which oil demand will forever outstrip oil supply, and therefore we're one step closer to fighting over the last rusting cans of gasoline like so many scraps of meat. On the plus side, we're also one step closer to finally ...

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    Oil price hits 17-month high thanks (?) to economic recovery in the U.S.
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    Two years ago, the price of oil was shooting to highs of over 100 dollars a barrel. Today, it's not quite that high, but the price of a barrel of crude did hit $86.62 this week, its highest point in 17 months, thanks (?) in part to "growth in American jobs and service industries signaled that the ...

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    KGLERB stands for potential fuel tax increase based on carbon content in U.S.
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    The cosmic oil-consumption scales have been tipping back and forth a lot this week. On Tuesday, Nissan revealed that its all-electric Leaf will be priced lower than most of us expected. On Wednesday, President Obama announced that we'll be ramping up our off-shore drilling efforts on the East ...

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    Considering the crazy: will $30 barrels of oil come back?
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    While it's certainly possible to run automobiles on natural gas instead of gasoline (see the Civic GX), there is a decided lack of natural gas vehicles in the U.S. This might become a problem that needs solving, quick, if an analysis in Ground Report turns out to be accurate. The fear? That the ...

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    REPORT: Kuwaiti Oil Minister says OPEC won't increase production until prices hit $100/barrel
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    America might get most of its oil from Canada, but the moves that OPEC makes still reverberate here. Thus, a statement by the Kuwaiti Oil Minister Sheikh Ahmed al-Abdullah al-Sabah to reporters yesterday probably won't help decrease domestic gasoline prices any time soon. OPEC's al-Sabah said that ...

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    U.S. oil consumption keeps on dropping, ExxonMobil execs admit
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    If you know what the acronym VMT stands for, then this story probably won't come as much of a surprise. VMT stands for vehicle-miles traveled, and Americans drove their VMT numbers way, way down last year. VMT is just one way to measure demand for oil, and the decrease in VMT plus the rise of ...

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    The days of $1/gallon of gas may be coming back in the US. Or not
    1229620560

    It's hard to predict the future. Well, it's actually quite easy to make a prediction - it's just hard to predict what will actually happen. Take gas prices. With the recent announcement that OPEC would make a substantial production cut - 2.2 million barrels a day - to bring oil prices back up, an ...

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    BREAKING: OPEC issues largest-ever cut in oil production
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    Getting used to cheap gas prices? Experts have been warning that they are not going to last and the Organization of Petroleum Exporting Countries (OPEC) is doing its part to prop 'em back up. Today, OPEC unleashed a plan to drastically cut oil production by an astounding 2.2 million barrels per day ...

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    Party like it's August 2007: oil falls to 14-month low
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    Photo by Michael (mx5tx). Licensed under Creative Commons license 2.0.The bad news continues for fuel efficient vehicle technologies. The AP is reporting that yesterday's oil barrel price of $74.54 was a 14-month low, and that price is half (half!) of the high price earlier this summer. The main ...

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    Breaking: Oil prices rise nearly 16-percent in one day of trading
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    The price for a barrel of Crude for October delivery rose $16.37, or 15.7%, to close at $120.92 by the end of today's trading in New York. Why? There doesn't actually appear to be any one particular reason, with speculation of an improving economy due to the Bush administration's hopeful ability to ...

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    Video: Oil addiction and biofuel dangers simplified
    1219791960

    There's a new video from Good Magazine that explains the viewpoint of those who believe that using crops for biofuels isn't good for the environment with simple and clear language. The short clip references articles from newspapers such as the LA Times and the NY Times, as well as official ...

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    NozzleRage
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    Who's to blame for the current spike in oil prices and who exactly is benefiting? It seems everyone has an answer to these questions lately. Regardless of whether one believes that we should drill the ANWR region, end oil speculation, boost refinery capability, or pressure automakers to deliver ...

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    At Witz' End - Gas Prices: Alternatives and Oil Supply
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    Part of the problem is speculation: individual and institutional investors betting on higher future oil prices. Another big factor is the very weak U.S. dollar. But the bulk of the reason oil and gas prices have climbed so high is that age-old Economics 101 supply/demand equation. Global demand, ...

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    Vanpool usage rises with gas prices
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    As high fuel prices make it more expensive for people to run their cars, services that specialize in replacing those cars, full-time or part-time, are seeing their businesses grow along with the pump price. Earlier, we told you about Zipcar's improved performance of late, and now we can tell you ...

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    OPEC: Oil prices could continue to rise
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    OPEC president Chakib Khelil believes that the already staggering price for a barrel of oil could continue to rise. Citing the low value of the U.S. dollar, Khelil says that investors are likely to continue to place their bets on oil, a necessary commodity. With current prices hovering around $120 ...

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    Oil prices fall over $4 after hitting new record highs
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    Oil hit a new record high price of $111.80 yesterday morning, but settled at $105.68 later, a drop of $4.42 for the day. While we're not yet ready to suggest that an end has come to the daily rise in oil prices, seeing the price for a barrel of crude drop, if only for a day, is probably a bit of a ...

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    Expensive gas worries GM purchasing chief
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    It's no secret that the auto industry's most profitable vehicles are also the hardest hit when gasoline prices climb past consumers' comfort levels. Bo Andersson, the man behind GM's purchasing decisions, says that the tipping point currently hovers around $3.30 a gallon. At that price, sales start ...

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