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Energy Prices

BUSINESS
By NEW YORK TIMES NEWS SERVICE | July 16, 2005
Most businesses seem to be absorbing higher energy costs in an effort to keep prices down and stay competitive, economists said yesterday after the latest economic report showed few signs of inflation. The report on the producer price index, which is considered an early indicator of inflation, showed that wholesale prices were unchanged in June. After Thursday's report on consumer prices, which were flat in the month, the price index offered another indication that inflation had been kept in check in June.
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BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,SUN STAFF | June 5, 2005
Joe Tomarchio is paying a lot more for tires. Gene Mullinix is paying a lot more for fertilizer. Terry Alexander is paying a lot more for roofing. High energy prices have a hidden cost. Oil and natural gas aren't just fuel for automobiles and furnaces; they are also key ingredients in tens of thousands of everyday items, from plastic to pantyhose, computers to crayons, shaving cream to surgical equipment. And manufacturing anything with petrochemicals is more expensive with both energy sources hovering near record highs.
BUSINESS
By Andrew Leckey | April 24, 2005
Now it's getting personal. When my gas tank fill-up surpassed the $40 mark for the first time, world oil economics edged closer to home. I cared little that the fellow filling up his sport-utility vehicle next to me seemed to be entering various stages of panic with each click of the pump. I was only worried about No. 1. On the bright side of the crude oil trend, investors with money in energy mutual funds have enjoyed a welcome fill-up of their personal assets in 2005. They are the only fund shareholders who can thump their chests about being No. 1 in performance.
BUSINESS
By BLOOMBERG NEWS | December 1, 2004
NEW YORK - The Consumer Confidence Index unexpectedly fell last month to the lowest level in eight months as higher energy prices damped optimism among low-income Americans. The Conference Board reported yesterday that its index dropped to 90.5 from 92.9 in October, suggesting that retail sales are poised to slow. In another development, the Commerce Department reported that the gross domestic product - the value of all goods and services produced in the United States - increased at an annual rate of 3.9 percent in the third quarter.
BUSINESS
By BLOOMBERG NEWS | November 17, 2004
WASHINGTON - Prices paid to U.S. producers rose 1.7 percent last month, the biggest increase in 14 years, as higher energy and food costs suggested that inflation is picking up. The increase in wholesale prices followed a 0.1 percent gain in September, the Labor Department reported. The core rate, which excludes food and energy, rose 0.3 percent for a second straight month. Energy costs rose 6.8 percent, the most since February last year. The Producer Price Index numbers boosted expectations that Federal Reserve policy-makers will raise interest rates next month to help stem inflation.
BUSINESS
By Robert Manor and Robert Manor,CHICAGO TRIBUNE | August 13, 2004
Oil prices hit a record high yesterday as Middle East violence and a political showdown in Russia cast more doubt over supply, raising concerns that energy costs might continue to rock the wobbly U.S. economy. Oil rose 70 cents, to $45.50 a barrel, on the New York Mercantile Exchange. It was the highest closing price since oil futures contracts began trading in 1983. Before the close, the price reached $45.75. Oil prices have set intraday trading records every day except one since July 30. High oil prices act like a tax on the economy, diverting consumer spending from other purchases.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | June 16, 2004
Federal Reserve Chairman Alan Greenspan told members of the Senate banking committee yesterday that "inflation is not likely to be a serious concern" but that policy-makers are watching the effect of rising energy prices on the world and U.S. economies closely. Bond prices rose after Greenspan's remarks about inflation, continuing a rally that had begun earlier in the day after the release of May consumer price data that were not as bad as many had feared before the report's release. Greenspan spoke at a hearing on his confirmation for a fifth term as chairman of the Federal Reserve Board.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | June 16, 2004
Prices paid by consumers in May rose at their fastest rate in more than three years, the Labor Department reported yesterday. The news was greeted positively by stock and bond traders, who had been worried before the report that the news might be worse than it was. The rise in the broad Consumer Price Index was 0.6 percent, a bit higher than the consensus Wall Street forecast of 0.5 percent. The increase followed a rise of 0.2 percent in April. The index was pushed higher by rising energy and dairy prices, which posted their largest monthly gain since 1946.
NEWS
By Hanah Cho and Hanah Cho,SUN STAFF | May 17, 2004
A Carroll County cooperative that pooled $3.5 million to buy electricity has been unable to lock in reasonable energy prices in a highly volatile market as Maryland moves toward deregulation in July. That means Carroll businesses and municipalities could absorb rate increases as high as 30 percent when local governments' finances are tight. The 82-member group - which includes Westminster, Sykesville, Manchester and New Windsor - sought bids last week from five energy suppliers. The bids, however, translated into rate increases of more than 30 percent, said Richard Anderson, an energy consultant for the electricity cooperative organized this year by the Carroll County Chamber of Commerce.
NEWS
By Hanah Cho and Hanah Cho,SUN STAFF | May 17, 2004
A Carroll County cooperative that pooled $3.5 million to buy electricity has been unable to lock in reasonable energy prices in a highly volatile market as Maryland moves toward deregulation in July. That means Carroll businesses and municipalities could absorb rate increases as high as 30 percent when local governments' finances are tight. The 82-member group - which includes Westminster, Sykesville, Manchester and New Windsor - sought bids last week from five energy suppliers. The bids, however, translated into rate increases of more than 30 percent, said Richard Anderson, an energy consultant for the electricity cooperative organized this year by the Carroll County Chamber of Commerce.
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