Gas prices

Going the Way of the Typewriter?

A generation is growing up in the United States with no idea what a typewriter is! Once an important part of the work place, typewriters are almost impossible to find these days. Will the same be said about home heating oil tanks, outside limited areas, several generations from now?

Home heating chart    » read more »

By Suspending Deposits into the Nearly-Full Strategic Petroleum Reserve, More Oil Will Be Available in the Marketplace to Help Bring Down Gas Prices

May 13, 2008 -- Washington, D.C. – The U.S. Senate passed a measure co-sponsored by U.S. Senator Russ Feingold (D-WI) that will help lower gas prices that have reached all-time highs.

California gas prices: Photo by Brian Locicero (CC)

The Senate passed a Feingold-backed initiative to suspend the filling of the strategic petroleum reserve (SPR) that was originally created to provide relief when oil and gasoline supply shortages caused economic hardships.    » read more »

May 13, 2008 -- WASHINGTON, D.C. - U.S. Senator Barack Obama today released the following statement after the Senate passed an amendment to the Flood Insurance Reform and Modernization Act of 2007 (S.2284) to suspend filling the Strategic Petroleum Reserve. Senator Obama is a co-sponsor of this provision, which passed by a vote of 97 to 1.    » read more »

May 13, 2008 -- Washington, D.C. – Speaker Nancy Pelosi today released the following statement following House passage of the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act by a vote of 385 to 25. The bill temporarily suspends the filling of the Strategic Petroleum Reserve (SPR) through the end of the year, as long as the price of crude oil remains above $75 per barrel.

Oil pipes at the Strategic Petroleum Reserve: DOE photo    » read more »

May 13, 2008 -- With the average price for a gallon of gas in Connecticut climbing to $3.95, Connecticut Governor M. Jodi Rell today urged the U.S. House of Representatives to pass a measure that would suspend oil deliveries to the country's Strategic Petroleum Reserve until crude prices fall below $75 a barrel.

A technician at the Strategic Petroleum Reserve inspects crude oil transfer pipe: Photo courtesy DOE

The proposal to halt shipments to the emergency oil reserve cleared the Senate in a 97 to 1 vote and is expected to receive bipartisan support in the House.    » read more »

May 12, 2008 -- "Mr. President, day after day record-high oil and gasoline prices are hurting millions of American consumers and businesses. Unless something is done to make energy more affordable, the record-high prices will continue to reverberate throughout our economy, increasing the prices of transportation, food, manufacturing and everything in between.

A Rolls Royce parked in Dubai: Photo by Gavin (CC)

Skyrocketing energy prices are a threat to our economic and national security, and the time is long past for action.    » read more »

"Good morning, I'm U.S. Senator Debbie Stabenow. When George Bush took office back in 2001, a gallon of gasoline cost about $1.50. Today, if you are filling your tank in my home State of Michigan, you are paying more than $3.70 for regular and $4 a gallon for premium.

"In every corner of our country, we are paying record prices. When gas prices first began to rise, it was an annoyance. Then it became a burden. Now it is a crisis for every American family - a crisis that doesn't just affect us at the pump, but also raises the prices of groceries, increases our home-heating bills, and squeezes small businesses trying to keep their heads above water.    » read more »

Statement by David Friedman, Union of Concerned Scientists

WASHINGTON (May 7, 2008) - Chrysler announced yesterday that it will cover gasoline costs above $2.99 a gallon for customers who buy or lease a new vehicle from the company. The offer is limited to the first three years customers use their cars and covers up to 12,000 miles per year.

According the Union of Concerned Scientists (UCS), Chrysler is trying to fool consumers into overlooking its vehicles' poor fuel economy and environmental performance. The savings the Chrysler program offers, the organization says, don't measure up to the savings one would get from purchasing a fuel-efficient vehicle.

Below is a statement by David Friedman, research director for UCS's Clean Vehicles Program:    » read more »

Spring and the Summer-Grade Gasoline Price Bump

For many, the sight of a bird’s eggs hatching or tulips blooming signifies the arrival of spring. Historically, spring is also the time for rising gasoline prices. Over the last 10 years, the monthly average retail price for regular-grade gasoline has increased by an average 7 cents a gallon from April to May. In EIA’s latest Short-Term Energy Outlook, the average gasoline wholesale price for May is projected to increase by 10 cents per gallon from last month.    » read more »

05/08/2008 -- Washington, DC — Senate Majority Leader Harry Reid and Senators Jeff Bingaman, Max Baucus, Charles Schumer, Byron Dorgan, Maria Cantwell and Bernie Sanders held a press conference today to unveil the Consumer-First Energy Act of 2008, a bill that addresses the root causes of high gas prices.

Gas prices: Photo by Todd Lappin (CC)

Seven years of the Bush Administration’s disastrous energy policies have enriched Big Oil and market speculators at the expense of American consumers. Democrats are committed to providing relief to consumers and strengthening our economic, energy and national security.    » read more »

WASHINGTON (Wednesday, May 7, 2008) – The Senate Judiciary Committee will hold a hearing later this month to examine the rising price of crude oil and its effect on gas prices across the country, Chairman Patrick Leahy (D-Vt.) announced today.

Giant 5 mpg SUV: Photo by Financial Aid Podcast (CC)    » read more »

Montana's Senior U.S. Senator Stands Up For Consumers

May 7, 2008 -- (Washington, D.C.) – At a press conference on Capitol Hill today Montana’s senior U.S. Senator Max Baucus announced his plan to crack down on big oil by getting rid of current tax breaks for the country’s major oil companies.

Baucus, chairman of the powerful Senate Finance Committee – the panel with jurisdiction over taxes and revenue – proposed repealing the Section 199 manufacturing deduction for the major integrated oil companies, while tightening the rules that govern how much U.S. taxes are due on income earned overseas by oil and gas companies.    » read more »

May 7, 2008 -- Nevada Senator Harry Reid joined other Democratic senators at a press conference this week to unveil the Consumer-First Energy Act of 2008, a bill that addresses the root causes of high gas prices. Seven years of the Bush Administration’s disastrous energy policies have enriched Big Oil and market speculators at the expense of American consumers.

“Nevadans are paying more and more every day to fill up their gas tanks, yet Bush Republicans only offer more of the same failed energy policies that brought us to this point,” Reid said.    » read more »

7 May 2008 -- U.S. stock market indexes tumbled in Wednesday's trading as investors reacted to surging oil prices, which hit another record high. The price of crude oil rose nearly $2 to settle at $123.57 cents a barrel

The Dow Jones Industrial Average lost 1.6 percent (206 points) to close at 12,814. The S&P 500 dropped 1.8 percent (26 points) to end at 1,393. And the NASDAQ lost 1.8 percent (45 points) to close at 2,438.

European stock markets closed higher. London's Financial Times 100 index gained more than 0.7 percent (46 points) to end at 6,261. The CAC 40 in Paris rose almost 0.7 percent (34 points) to close at 5,075 and the DAX in Frankfurt jumped more than 0.6 percent (59 points) to close at 7,076.    » read more »

Alaskans Feel Pinch of High Costs

May 7, 2008, Anchorage, Alaska - Alaska Governor Sarah Palin released the following statement as the price of Alaska North Slope crude oil reached a record level of $123.53 a barrel.

Trans-Alaska pipeline: Photo by rickz (CC)

“Alaskans are feeling the pinch of high energy costs. The state treasury is swelling while the family checkbook is evaporating. As prices continue to rise, we cannot wait for medium- and long-term solutions to come into place.”    » read more »