The U.S. started 2011 with the highest gas prices ever for January. That doesn't bode well for the coming months, but the sky isn't falling. Here's what you can do about those higher fuel costs, including how to make investments that will profit from them.
Oil prices on Tuesday reached the $91-a-barrel mark in light trading as strong demand and limited supply continues to push up prices towards the end of the year.
It may be the happiest season of the year, but higher oil prices that have translated into gasoline prices topping $3 a gallon have many motorists frowning.
Lower U.S. petroleum inventory and higher demand pushed oil prices past the $90-a-barrel mark Wednesday.
Exxon Mobil Corp. (XOM) sold nine U.S. Gulf of Mexico oil and natural gas stakes to Energy XXI in a deal worth $1.01 billion. The assets produce about 20,000 net barrels of oil a day, The Wall Street Journal said. They contain net proved and probable reserves of 66 million barrels of oil equivalent (BOE), of which 61% is actually oil.
Chevron Corp. (CVX) reported earnings of $1.87 for the quarter, down from $1.92 a year earlier. The 2009 results were boosted by upstream asset sales and discrete tax items. Sales and other operating revenues were $48 billion in the third quarter of 2010, compared with $45 billion a year earlier, the company said in a statement. The increase was largely due to higher prices for crude oil, natural gas and refined products.
Occidental Petroleum (OXY) promoted COO Stephen Chazen to the position of CEO, effective May 2011. Chazen will replace Ray Irani, who will continue as full-time executive chairman, the company said in a statement.
Find out what kind of savings can you expect if you switch to carpooling.
Political upsets in Peruvian regional elections could indicate a national shift to the left -- and some business leaders worry that could discourage foreign investment in the country, which has rich natural resources such as oil, gas and gold.
French engineering company Alstom on Monday announced plans to cut 4,000 jobs in the next 17 months, citing low demand for coal and gas power plants. Its renewable employees are safe.
Sinopec Group (SHI), China%u2019s second-largest oil and gas producer, will invest $7.1 billion in Repsol%u2019s (REP) Brazilian unit. Sinopec will buy new shares in the Spanish company%u2019s Brazilian unit, giving the Chinese company a 40% stake, Bloomberg News said.
Pacific Gas and Electric (PCG) released a list of 100 high priority gas lines in California, 11 days after a gas main exploded in San Bruno, killing at least four people. PG&E compiled the list using criteria including potential for corrosion and the potential for third-party damage such as construction, the company said on its website.
PG&E shares plunged $4.03 on Friday from $48.24 to $44.21 one day after the blast. Investors continued taking profits on Monday, but the stock then recovered to close up a nickel. Still, the ultimate impact will depend on the investigation's results.
Global oil demand growth is expected to increase a little this year but slip in 2011 as fuel stockpiles surge and concern persists that economic growth could falter, the International Energy Agency said on Friday.
An explosion and fireball rocked San Bruno, Ca, destroying 53 homes and killing at least one person. Fire shot hundreds of feet into the air at 6.15pm local time Thursday, KTVU reported. More than 20 people were taken to hospital to be treated for burns and smoke inhalation.
Air Products & Chemicals (APD) has raised its bid for Airgas (ARG) to $65.50 a share in an all-cash offer. The latest offer represents a 50% premium above Airgas' closing stock price on Feb. 4, the day prior to Air Products submitting its first acquisition plan, Air Products said Monday in a written statement.
BP (BP) decided not to bid for a license to drill for gas off the coast of Greenland, a move that government officials say could have been influenced by the company%u2019s safety record in the wake of the disaster in the Gulf of Mexico. Premier Kuupik Kleist said Wednesday that safety records are key when approaching the licensing process, according to The Associated Press.
Char-Broil vertical gas smokers are being recalled because of a defect that has caused some to explode, the U.S. Consumer Product Safety Commission...
More states are hiking tax rates on the sale of retail items, gasoline and cigarettes according to a recent survey of state consumption taxes.
Apache Corp. (APA) fell in pre-market trading after announcing it will sell shares and agreeing to buy $7 billion of assets from BP (BP). Apache dropped 1.05%, or 93 cents, to $87.35 in pre-market trading.
May's retail sales figures seem to show U.S. consumers are losing their drive to shop, but some of the weakness can be blamed on a quirk in the calendar. A closer look shows consumers are actually becoming more willing to pony up at the cash register again.
An Indian court today sentenced eight people -- including the former chairman of Union Carbide's Indian arm -- to jail terms for the 1984 Bhopal gas plant leak that poisoned tens of thousands of people in the world's deadliest industrial accident.
Every month when its time to pay my gas, electricity and water bills, I'm curious to see how much I've used my utilities and how that compares with...
Niska Gas Storage Partners LLC (NKA), the first U.S. IPO since the market plunge last week, had a rocky debut, with shares falling 6.8% on the first day of trading. But given the strength of the company, the current valuation looks attractive.
Of all the boudoir hazards that can put wedded bliss on the rocks, perhaps none is less discussed, but more disgusting, than chronic flatulence. But...
Oil prices are showing signs of moderating, with a barrel of crude now worth about half of its all-time of $147 a barrel in 2008. But U.S. motorists may not benefit much at the pump. Refiners are expected to restore their margins that got squeezed during the recession.
If you tired of spending at the pump, one way to lessen the hit is to invest in oil companies and profit from their rising revenue. BP should benefit. Its revenues are climbing, fundamentals are improving and technically,it's got a beautiful chart.
Until now, green companies in the developing world have lacked a yardstick to track their stock performance versus the rest of the market. The newly introduced "carbon-efficient index" fills that gap -- just in time for the Copenhagen climate meetings.
Shoppers trim their food budgets when gas prices rise, but they don't always give up the name-brand foods they like. Store brands have gained ground...