By CHRIS KAHN
NEW YORK (AP) — Rapidly climbing energy prices stalled this week as a steady stream of dismal financial news suggested that even if the global economy has bottomed out, it will be some time before demand for crude rebounds.
Benchmark crude for June delivery dropped $2.28 to settle at $56.34 a barrel on the [...]
For the Defense Department, the largest consumer of energy in the United States, addiction to fuel has greater costs than the roughly $18 billion the agency spent on it last year.
By some estimates, about half of the U.S. military casualties in Iraq and Afghanistan are related to attacks with improvised explosive devices on convoys, many [...]
By JAD MOUAWAD
The Obama administration wants to reduce oil consumption, increase renewable energy supplies and cut carbon dioxide emissions in the most ambitious transformation of energy policy in a generation.
But the world’s oil giants are not convinced that it will work. Even as Washington goes into a frenzy over energy, many of the oil companies [...]
By GEORGE JAHN – 1 hour ago
VIENNA (AP) — Oil prices slipped below $45 a barrel on Wednesday after the U.S. Energy Department cut its crude demand forecast for 2009, stalling a two-week rally.
Prices fell despite expectations that OPEC would cut back on production at its weekend meeting in Vienna.
Benchmark crude for April delivery dropped [...]
Exxon Mobil finished a roller-coaster year in the oil markets with an all-time record $45.2 billion in profits, despite fourth-quarter earnings that were a third lower than the same period a year before.
With oil prices slumping, Exxon Mobil suffered a sharp drop in profits from producing oil and gas but higher profit margins at refueling [...]
The Associated Press
BENNINGTON — The first phase of a geothermal project that will help heat and cool the Vermont Veterans Home in Bennington is finished and the second phase is due to get under way early next year.
The $2.3 million first phase involved the installation of geothermal equipment that will bring ground water in and [...]
Oil Closes Below $50, Lowest Price Since May 2005
After rising to dizzying heights this summer, the oil market is suffering a hair-raising drop with no apparent end in sight.
Oil prices fell to their lowest level in more than three years, falling below $50 a barrel on Thursday, after shedding close to $100 in four months [...]
By PABLO GORONDI, Associated Press Writer
Oil prices fell below $56 a barrel Monday as news that Japan fell into recession highlighted investor fears that a global economic slowdown will hurt crude demand.
By midday in Europe, light, sweet crude for December delivery was down $1.23 to $55.81 a barrel in electronic trading on the New [...]
By JAD MOUAWAD
At the beginning of the year, OPEC producers felt confident that strong economic growth and tight supplies would keep oil prices high. When oil crossed the $100-a-barrel threshold in February, the cartel’s president blamed speculators and said there was not much OPEC could do.
But now, panic is gripping producers as prices drop. They [...]
Julia Kollewe and Angela Balakrishnan
guardian.co.uk,
Investors, who piled into oil and other commodities earlier in the year as a hedge against inflation and the weak dollar, are now cashing out in search of safer havens
Oil prices fell further today after the International Energy Agency cut its oil demand growth forecast for 2008 to the [...]
