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NEWS
February 28, 2011
In his letter to the editor on Feb. 26, Patrick McGrady writes that he is outraged at the General Assembly's consideration of an increase in the gasoline tax from 26.5 cents to 36.5 cents per gallon, generating an additional approximately $250 million for transportation projects ( "Gas tax increase will hurt Md. families" . I feel Mr. McGrady's rage is misplaced. These additional funds will provide thousands of jobs in Maryland and help to maintain an efficient and safe transportation system, which benefits us all. Rather, his rage and the rage of all Americans should be directed at the forgotten villains, oil company profits.
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NEWS
By Frederick N. Rasmussen, The Baltimore Sun | August 22, 2014
David R. Millard, an oil company executive who was a co-founder of the Chesapeake Oil Co., died Aug. 15 at Stella Maris Hospice of cancer. He was 88. The son of Junius Samuel Millard, a pharmacist, and Marian Bentley Millard, girl's athletic director at Friends School, David Rockwell Millard was born in Baltimore and raised in the Armagh Village neighborhood of Baltimore County. Mr. Millard's paternal grandfather, David Rockwell Millard, was one of the pharmacists who founded the old Morgan & Millard Inc. pharmacy in the Roland Park Shopping Center, which is now the site of the Petit Louis Restaurant.
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BUSINESS
By Los Angeles Times | October 23, 1990
Arco reported a nearly 22 percent increase in third quarter profits yesterday, and other oil companies posted significant gains as energy companies reaped the benefits of higher crude oil prices triggered by the Iraqi invasion of Kuwait.Industry analysts said that profits of some companies would have been even higher if they had passed along to consumers the total increase in crude oil prices, which have shot up past $40 a barrel before retreating under $30 yesterday.The robust earnings report come as energy companies face public ire over rising gasoline prices and claims that the industry is taking advantage of Mideast tensions to fatten its bottom line.
NEWS
July 26, 2013
Commentator Donald F. Boesch provided an inspiring account of Maryland's commitment to our environment ( "It's not too late," July 24). Recently, however, I was surprised by a dramatically underexposed issue: Seismic air gun testing. This particularly destructive type of testing is used by oil companies to prospect for oil offshore. Not only does the testing harm marine mammals and other ocean life, but it is also a gateway to even more destructive oil drilling. I doubt that Maryland's action plan will address air gun testing.
NEWS
By Paul Adams and Paul Adams,SUN STAFF | August 20, 2004
Not since the late 1970s have multinational, integrated oil companies, refiners and the industrial giants who supply them seen so much green. With crude oil approaching a record $49 a barrel and expected to climb higher, much of the oil industry is enjoying a boomlet that has sent shares skyward along with bottom lines. With every dollar of price increase, the industry sees the value of its reserves go up. And it didn't have to lift a finger. "Their balance sheets look very good because all of the reserves are valued more highly and their cash flow is also improving dramatically," said Thorsten Fischer, an oil industry expert and senior economist with Economist.
NEWS
May 10, 2011
How come the gas prices went up every day for the past month and a half when the price per barrel of oil went up, but now the price of a barrel of oil dropped almost $15 and not one gas station has dropped their price per gallon. Someone needs to check on the oil companies and see why prices have not come down and what are the oil companies doing with all their profits. What is good for the goose is good for the gander. If we had to pay when the price went up, we should get the benefit of lower prices when oil prices drop.
BUSINESS
By Jack Z. Smith and Jack Z. Smith,Fort Worth Star-Telegram | July 3, 1991
Houston-based Shell Oil Co. plans to reduce its U.S. work force by as many as 4,650 employees in response to disappointing financial results.ARCO Oil and Gas, a large employer in Dallas and Plano, Texas, also said yesterday that it is analyzing company operations in a bid to boost its financial performance. But the company declined to speculate on the possibility of employee layoffs.A growing number of U.S. oil companies may be forced to consider layoffs or other cost-cutting measures if natural gas prices remain deeply depressed and oil prices continue at moderate levels, said Steve Smith, an energy analyst for Bear Stearns in New York.
NEWS
By Robert Hardaway | May 24, 2007
Few politicians can resist the urge to exploit consumer angst over rising prices at the pump. Here are 10 things the politicians won't tell you about gas prices: 1. At more than $3 a gallon, the U.S. inflation-adjusted price for gasoline is now less than it was in 1981, a remarkable decrease in price over a 25-year period during which real prices in other sectors, such as health and education, have tripled and quadrupled. 2. This decline in the price of gasoline since 1981 is enjoyed almost exclusively in the United States.
NEWS
By Ted Shelsby and Ted Shelsby,SUN STAFF | August 7, 2005
The Exxon gas station suspected in one of the largest instances of well contamination recorded in Maryland is gone, but the legal battle over its impact on the health of residents and the value of their properties is just gearing up. Workers demolished the station at Routes 165 and 152 in Fallston last week, just days after Congress passed an energy bill that requires oil companies to defend themselves against lawsuits stemming from the kind of MTBE...
NEWS
March 5, 2011
In his letter to the editor ("Pain at the pump? Blame oil companies, not gas tax," March 3 ), Donald Torres wants everyone to be angry at the greedy oil companies and their huge profits and not with the General Assembly's plan to raise the gas tax another 10 cents. Like all of us I hate the rising gas prices also. But what I find more appalling is that the General Assembly is jumping on the oil company bandwagon to get more money from us too. This is a time to cut more spending, not take more from its citizens.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | March 16, 2013
Lindsay D. Dryden Jr., a Baltimore fuel oil company executive and Florida businessman, died Wednesday of cancer at Gilchrist Hospice Care in Towson. He was 85. The son of an oil company executive and a homemaker, Mr. Dryden was born and raised in Guilford. He attended the McDonogh School. Mr. Dryden went to work for the family business, Dryden Oil Co., which had been founded by his grandfather in 1893. After his father's death in 1952, he took over its operations, and as president and later chairman of the board, expanded the business to more than 450 employees and established 17 locations in the East.
NEWS
Thomas F. Schaller | January 8, 2013
As Washington politicians search for budget solutions, imagine if there were a magical revenue source that operated not unlike a national consumption tax that many conservatives prefer and would mitigate global warming to please liberals, all while helping repair America's infrastructure and strengthening our national security, to the delight of almost everyone. Actually, such a tax already exists: It's called the federal gasoline tax, and it's been stuck at 18.4 cents per gallon for two decades.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | December 4, 2012
Paul B. Moore, a former Evening Sun reporter and editor who later became a public relations executive, died Nov. 27 from complications of prostate cancer at his Homeland residence. He was 84. "Paul was a very conscientious reporter and a very conscientious person. He was very talented and what he did, he did well," said Helen Delich Bentley, a former newsroom colleague who later became a congresswoman and federal maritime commissioner. "As a reporter, he was always fair, and wherever he went always looked for something interesting and challenging," said Mrs. Bentley.
NEWS
By Robert B. Reich | November 22, 2012
The Justice Department has entered into the largest criminal settlement in U.S. history with the giant oil company BP, in connection with the 2010 disaster in the Gulf of Mexico that killed 11 people and caused the worst oil spill in American history. BP pleaded guilty to 14 criminal counts, including manslaughter, and agreed to pay $4 billion over the next five years. This is nonsensical. BP isn't a criminal. Corporations aren't people. They can't know right from wrong. They're incapable of criminal intent.
NEWS
May 9, 2012
It was recently reported thatExxon Mobil Corp.earned $825 billion in revenue in 2011. Think about that for a moment. That is nearly one trillion dollars in just one year, made largely on the backs of hard-working Americans forced to pay $4 per gallon at the pump. And where is all this money going? No doubt to pay for fat executive bonuses and to bribe corrupt members of Congress to continue doing the bidding of the oil industry. Clearly, a change is in order, and with that in mind I propose the following: Since we are now in the business of invading countries in order to steal their oil (under the guise of a war on terror)
NEWS
April 3, 2012
We have been hearing claims by our federal government that there is low to no inflation in this economy. The Federal Reserve continues an "easy money" policy, cranking up the printing presses at the U.S. Mint when the government needs more money to operate than it collects in taxes. And long term interest rates are the lowest in recent history. And deficits are at all time high levels. Yet gasoline and heating oil are up 40 percent since last year (and we can't blame the oil companies for the price of oil products)
NEWS
October 19, 2011
It seems that all politicians can think about today is raising taxes that only affect the poor ("O'Malley weighing rise in gas tax," Oct. 18). Heaven forbid they should consider raising taxes on the rich. Don't any of them realize that the average working taxpayer - and the unemployed worker - is being taxed to the breaking point? People can't afford the normal necessities of daily living today with the cost of everything on the rise - food, clothing, rent, etc. Everything, that is, except the average wage!
NEWS
March 12, 2012
The recent Senate vote on the Keystone XL Pipeline ("Senate rejects GOP effort to advance oil pipeline," March 9) demonstrates the pathetic Republican energy policy. First, it advocates opening up more offshore sites for oil drilling leasing despite the fact that millions of acres currently under lease to oil companies have never been explored. Then it advocates construction of the Keystone Pipeline threatening the Ogallala Aquifer that is crucial to Midwest agriculture by a company whose prior pipeline experience has resulted in accidents and spills.
NEWS
By Peter Morici | April 2, 2012
Campaigning for office, President Barack Obama promised to do something about high gas prices, but now he is denying he can do much about what Americans pay to drive. He is too modest. In September 2008, Steven Chu said to The Wall Street Journal: "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe" - and Barack Obama picked him to be secretary of the Department of Energy. When President Obama was inaugurated, gas was selling for $1.90 a gallon, and it is now nearly $4. Not quite European levels, but doubling gas prices is a good start.
NEWS
March 12, 2012
The recent Senate vote on the Keystone XL Pipeline ("Senate rejects GOP effort to advance oil pipeline," March 9) demonstrates the pathetic Republican energy policy. First, it advocates opening up more offshore sites for oil drilling leasing despite the fact that millions of acres currently under lease to oil companies have never been explored. Then it advocates construction of the Keystone Pipeline threatening the Ogallala Aquifer that is crucial to Midwest agriculture by a company whose prior pipeline experience has resulted in accidents and spills.
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