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oil prices

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    Report: 'Snake Oil' author says history should remind us of fracking's 'false promise'
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    At least one author is warning consumers not to be fooled by relatively steady gas prices and prognostications of plentiful petroleum. Richard Heinberg, in his book Snake Oil: How Fracking's False Promise of Plenty Imperils Our Future is warning people that any prediction that the world has ...

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    Report: Gulf CEO says oil prices could halve by end of year, cause global instability [w/video]
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    It's just one in a laundry list of factors, but more fuel-efficient cars could make a difference in lowering oil prices dramatically to half their present levels, plunging to $50 a barrel by the end of the year. That's what Gulf Oil CEO Joe Petrowski is predicting in a new interview on CNBC's ...

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    The U.S. is exporting oil products, so why is the price of gas still high?
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    It has always been the habit of the party that doesn't occupy the White House to blame various ills on the party that does. Especially in the past few years when it has come to gas prices, the party-in-waiting has blamed the POTUS for "pain at the pump." We're not taking sides here – ...

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    Presidential politics and the price of gas, a quadrennial plea for votes
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    In 2008, when Democrats were suggesting President Bush was causing America's then-high gas prices, Fox News went to the mat to support their Commander in Chief, repeatedly explaining why the President can't really control gas prices. Media Matters has collected some of these clips into a ...

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    High oil prices see sheikhs on supercar-buying binge
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    Bloomberg is reporting that the sale of high-end and exotic cars in countries like the United Arab Emirates may swell by as much as 20 percent this year. The reason? Civilized countries just can't seem to kick their thirst for gasoline, and as a result, the price of a barrel of crude oil ...

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    Barron's says oil likely to hit $150 a barrel next spring, gas $4.50 a gallon
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    In early May of 2011, the national average price of gasoline in the United States hit exactly $4 a gallon before falling to the current level of $3.56. However, if predictions from Barron's hold true, then prices will shoot back up in early 2012, hitting $4.50 by next spring. Barron's, America's ...

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    OPEC looks to rake in $1 trillion (!) in 2011
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    The Organization of Petroleum Exporting Countries (aka OPEC) is looking forward to a record-setting 2011. Due to oil prices that have hovered around the $110-per-barrel mark, OPEC is projected to rake in some $1 trillion in revenues this year. While them OPEC nations and oil giants profit, some ...

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    Report: Saudi prince worried over increasing fuel economy standards and technology
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    This may sound surprising, but Saudi Prince Al-Waleed bin Talal has gone on record saying he wants the price of oil to decrease. Why's that you ask? It's all about the long-term game, says the Saudi Royal Family's stock market and real estate magnate. In a recent interview with "CNN's Fareed ...

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    64% of energy industry execs see oil prices exceeding $121 a barrel in 2011
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    Energy industry executives expect continued volatility in the price-per-barrel of oil for the remainder of 2011, with 64 percent predicting that crude prices will exceed $121 per barrel, according to results from the 9th Annual Energy Survey conducted by the KPMG Global Energy Institute. In this ...

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    IEA: Governments need to rethink reliance on oil
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    The International Energy Agency (IEA) is an independent, multi-government group formed out of the wake of the 1973 oil crisis. The Agency forecasts oil production and monitors international oil markets and energy sectors. Just five years ago, the IEA rather confidently predicted that oil ...

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    With pump prices soaring, Moody's upgrades outlook of oil/gas sector to "positive"
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    Moody's Investors Services, a credit rating agency that performs international financial research and analysis on commercial and government entities, has boosted its outlook for the global integrated oil and gas sectors from "stable" to "positive." In a report released on April 5th, the credit ...

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    Surging oil prices could lead to "significant" rise in offshore drilling in U.S.
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    Back in April of 2010, the Deepwater Horizon burst into flames and sank into the sea. For months, clean-up crews worked to contain the oil that spewed out at a rapid rate. In early May, President Obama announced that no additional deepwater drilling efforts would commence until measures to ...

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    With gas prices spiking, transit riders could save up to $14,376 a year (some, anyway)
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    With gasoline prices soaring, commuters who rely upon public transportation can now save even more cash than before, according to the American Public Transportation Association (APTA). On March 8th, U.S. gas prices hit an average of $3.50 a gallon, but individuals who travel by bus or commuter ...

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    NADA says $4.50 gas is tipping point in U.S. (well, duh!)
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    Do you remember 2008, when the cost of gas in the U.S. jumped to levels people just weren't ready for? When gas prices soared to $3.50 an above that year, we saw the U.S. public panic, and some changed their car-buying habits (for a while, at least). The 2011 version could come when a gallon of ...

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    Diane Rehm talks oil prices, Middle East unrest and plug-in cars
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    If you're interested in hearing how the turmoil in North Africa and the Middle East is connected to the recent spike in gas prices, we hope you've got an hour to spare. That's how long it'll take to listen to today's Diane Rehm Show, which is a great "where are we now" piece on a lot of the factors ...

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    UK climate secretary: renewable energy pays off when oil exceeds $100 barrel
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    Recently, the UK's energy and climate change secretary, Chris Huhne, spoke of his country's ambitious low-carbon energy plans, telling conference-goers at the Royal Geographic Society that the billions invested in renewable energy will pay off economically. There's a caveat, though: this only ...

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    Wikileaks: U.S. believes Saudi Arabia is running out of oil
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    Peak oil, according to Wikipedia, is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. Opinions vary on when the world will actually reach a peak oil scenario, but a new report detailed by Julian ...

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    DOE: Oil will average $99/barrel by end of 2012; gas $3.29 per gallon
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    According to the DOE's Energy Information Administration (EIA), crude oil prices are expected to steadily increase over the next two years, hitting $99 per barrel by the end of 2012. Tightening of world oil markets, along with a growth in consumption, will continue to drive oil prices up from the ...

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    Analyst: Price of oil in 2020? $300 a barrel
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    Energy analyst Charles Maxwell of Weeden & Co. sat down to discuss peak oil, alternative energy and the future cost of a barrel of crude with Index Universe managing editor Olivier Ludwig recently. Maxwell, a man who has been involved in the oil industry for more than half a century, is ...

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    One analyst's view: oil should cost just $10 a barrel
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    It wasn't all that long ago that barrels of oil cost around $10. One energy analyst quoted by CNBC, Peter Beutel, the president of Cameron Hanover, thinks that a fresh, crisp Alexander Hamilton is just about what a barrel is worth. His reasoning?

    We have so much oil right now, more than we've ...

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