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NEWS
May 10, 2011
Re your article "Demand, not speculation, cited for rising oil prices" (May 8), while demand is a factor in rising oil prices, multiple factors must be included to get the entire picture of why prices are rising. International Energy Agency chief economist Fatih Birol must not be paying attention to current events; how can he not include the recent Libyan crisis and the Japanese earthquake and tsunami as factors in rising gas prices? "We have to learn to live with these higher prices," Mr. Birol said.
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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.
NEWS
March 8, 2011
The Middle East is blowing up, teachers are protesting instead of teaching, oil prices climbing, but what is really important? Why Charlie Sheen of course. Does anyone really care? I hope not or we are really lost. Finton Cordell, Lutherville
BUSINESS
By EILEEN AMBROSE | October 25, 2009
The holidays will be here before you know it, and if you haven't made arrangements to fly home for Grandma's pumpkin pie, do so as soon as possible. Airfare experts say you have until the end of the month - Saturday - to book Thanksgiving flights to lock in a favorable price and get a seat on the flight you want. "You have another 10 to 15 days in November to make Christmas and New Year's purchases before things get really crazy," says Rick Seaney, chief executive of FareCompare.com. The holidays are usually busy, and it's typically a smart move to buy tickets early, before demand pushes up prices.
NEWS
By T. Boone Pickens | October 16, 2009
Since the surge of passenger cars following the establishment of the Interstate Highway System in 1956, America has been addicted to foreign oil. We are now importing nearly two-thirds of the oil we require, and about 70 percent of that is used to power America's fleet of cars, light trucks and 18-wheelers. According to the U.S. Department of Transportation, in 1960 there were about 74 million passenger vehicles on America's roads. There are now about 250 million. Nearly all of them run on imported gasoline or diesel.
NEWS
By Michael Dresser and Michael Dresser,michael.dresser@baltsun.com | May 12, 2009
In what could be a harbinger of summer driving costs, the nation's average price of gasoline jumped 12 cents, or 6 percent, last week, after several weeks of relative stability, according to AAA Mid-Atlantic. In Maryland, the average price for a gallon of unleaded was $2.19 as of Monday, up from $2.03 a week earlier - in part because crude oil was approaching $60 a barrel. "Due in part to signs that the economic recession may be turning around, slightly higher gas prices may be a sign that the summer driving season will bring increased demand as motorists take to the roads," said Ragina C. Averella, manager of public and government affairs for AAA Mid-Atlantic.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | January 17, 2009
Bankrupt Circuit City Stores Inc. said yesterday that it is going out of business and will shut down its 567 stores in the United States, including 15 in Maryland, after a plan to sell the company failed. The country's second-largest consumer electronics chain employs more than 30,000 people who will now be out of work. A bankruptcy judge approved the company's liquidation plan yesterday, and sales could begin as soon as today. The company's demise was just one of many layoff announcements yesterday from companies in various industries and highlighted how the weak economy is affecting different sectors.
BUSINESS
By New York Times News Service | December 16, 2008
With the global economy in the throes of a recession, oil producers are facing their toughest business prospects in 25 years. Oil demand is expected to decline this year and next, the first drop since the energy shocks of the early 1980s. As economic growth slows sharply, oil prices have collapsed from their summer peaks in record time. The stunning speed of the downturn has made for a nightmare for producers, who face shrinking revenue next year. Oil has lost $100 a barrel, or 70 percent of its value, since July.
BUSINESS
November 25, 2008
Oil prices spike on new Wall Street bailout SIOUX FALLS, S.D. : Oil prices jumped about $5 to nearly $55 a barrel yesterday, riding the coattails of the broader market on news that the U.S. government will bail out Citigroup. Light sweet crude for January delivery rose more than 9 percent, or $4.65, to $54.58 a barrel on the New York Mercantile Exchange. Prices hit $55.30 at one point. Phil Flynn, an analyst at Alaron Trading Corp., said oil initially seemed to be heading downward, dropping to $48 overnight even amid talk about possible production cuts by OPEC.
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