Gas prices

Declines in U.S. Petroleum Consumption Expected to Continue

If you feel like you’ve been economizing by driving less and adjusting your thermostat more, you’re not alone. Total U.S. petroleum consumption reported in today’s Weekly Petroleum Status Report (WPSR) is once again lower than the same week last year.

Average monthly total petroleum consumption has now declined for 12 consecutive months when compared with the same month the year before. Within the last 25 years, we’ve identified 6 other 12-month periods during which there was a sustained drop in total petroleum consumption from the previous year.    » read more »

Aug 13, 2008 -- SALT LAKE CITY, Utah - Utah Governor Jon Huntsman announced today that the Department of Agriculture and Food and the Department of Commerce are actively monitoring and analyzing Utah gas prices. In the most recent AAA gas report, the State's average price for unleaded gasoline was third highest in the nation.

"Gas prices are hitting everyone hard. As the rest of the country is seeing some relief from exorbitant gas prices, gas retailers in Utah have not shown Utahns a commensurate decrease at the pumps here at home," said Governor Huntsman. "We are asking these state agencies to monitor the situation within their enforcement powers to make sure Utahns are not being taken advantage of."    » read more »

August 4, 2008 -- This week, as John McCain continues on the Low Road Express, launching false attacks and airing desperate ads, donations from oil and gas companies are fueling his campaign - and driving his policies.    » read more »

Presidential Approval to Release Oil from Strategic Petroleum Reserve would have most Immediate Impact at the Pump

August 1, 2008 -- Washington, D.C. – U.S. Senator Russ Feingold (D-WI) is urging President Bush to bring immediate relief at the gas pump. Feingold joined 35 other Senators in sending a letter to the President, authored by Senator Richard Durbin (D-IL), calling on the President to use his emergency authority to immediately release oil from the Strategic Petroleum Reserve (SPR).

Gas pump, Petrolia, California: Photo by gerry la Photo by gerry la londe-berg (CC)-berg (CC)    » read more »

August 01, 2008 -- Chicago, IL - Below is a Statement from Senator Barack Obama on the ‘Gang of Ten Bipartisan Energy Plan' to Reduce Gas Prices and Break our Addiction to Foreign Oil:

"For too long, partisan gridlock and special interest influence has blocked progress on some of the most urgent challenges facing the American people, and that is especially true when it comes to our energy crisis. That is why I welcome today's bipartisan effort as an important step in the process of reducing our dangerous dependence on foreign oil, and why I look forward to September's bipartisan energy summit.    » read more »

July 31, 2008 -- Chicago, IL -- Below is a Statement from Senator Barack Obama on Record Exxon Mobil Profits While Americans Pay Skyrocketing Gas Prices at the Pump

"Perhaps the only thing more outrageous than Exxon Mobil making record profits while Americans are paying record prices at the pump is the fact that Senator McCain has proposed giving them an additional $1.2 billion tax break.

While Senator McCain's plan has succeeded in helping his campaign raise over $1 million from oil and gas company executives and employees just last month, it won't lower gas prices or end our dangerous dependence on foreign oil.    » read more »

June 23, 2008 -- When John McCain is in California this week he will no doubt try to tie himself to Gov. Schwarzenegger and distance himself from President Bush. But when it comes to offshore drilling, an important issue to coastal states, like California, Senator McCain is on Bush's--not Schwarzenegger's--side.

When McCain announced last week he wanted to lift the moratorium on offshore drilling, President Bush and big oil were quick to side with him, even though the idea has been met with much criticism and would do nothing to solve our short-term energy crisis. Just as bad, Senator McCain himself campaigned against off-shore drilling in states like Oregon, Maine, and even California in the run-up to the 2000 election.    » read more »

June 23, 2008 -- After years of saying he opposed drilling in our coastal waters, Senator McCain changed his position and has embraced President Bush's vision for offshore drilling. On CBS's Face the Nation, McCain advisor Carly Fiorina tried to defend John McCain's decision to cave in to Big Oil.

Offshore oil rig: Photo by arbyreed (CC)    » read more »

As President, Barack Obama will restore common-sense regulation to ease the impact of soaring gas prices

June 22, 2008 -- Chicago, IL - Senator Barack Obama today announced his plan to crack down on excessive energy speculation and fully close the "Enron Loophole" to ease the impact skyrocketing gas prices.

California gas prices, June, 2008: Photo by .pie (CC)    » read more »

June 17, 2008 -- WASHINGTON, D.C. - United States Senator Dick Durbin (D-IL) released the following statement today, after hearing the testimony of Walter Lukken, Chairman of the Commodity Futures Trading Commission’s (CFTC), before a joint hearing of Durbin’s Appropriations Subcommittee on Financial Services and General Government and the Senate Agriculture Committee.

“Increasing evidence shows that the run-up in crude oil prices and gasoline is being driven by larger trader banks, pension and hedge funds. Speculation may have as much, if not more, to do with high gas prices than any Saudi Sheik."    » read more »

June 17, 2008 -- WASHINGTON, DC – United States Senators Dick Durbin (D-IL) and Tom Harkin (D-IA) chaired a hearing today to investigate how excessive speculation in the oil market may be contributing to the historic run on oil and gas prices.

The hearing, held jointly before the Senate Appropriations Subcommittee on Financial Services and General Government and the Senate Committee on Agriculture, Nutrition, and Forestry, probed the Commodity Futures Trading Commission’s (CFTC) role in regulating the market and what tools and resources the agency needs to ensure it is able to be a robust market watchdog.    » read more »

Sends Letter to FTC Chairman about potential price gouging

June 17, 2008 -- WASHINGTON, DC - At a time when Pennsylvanians are faced with skyrocketing gas prices, U.S. Senator Bob Casey (D-PA) today sent a letter to William Kovacic, Chairman of the Federal Trade Commission (FTC) regarding the potential of price gouging and price manipulation.

“I hope that you and I can work together to give the FTC the tools it needs to investigate and help prosecute companies that are adopting questionable business strategies,” Senator Casey wrote. “The Unites States Congress and the FTC have an obligation to provide consumers with the assurance that whatever price they are paying at the pump, they can be certain they aren't being taken for a ride.”    » read more »

June 17, 2008 -- “There are some who believe that the only solution to our skyrocketing energy crisis is to drill, drill, and drill. And one of their primary targets is the Outer Continental Shelf.

Congress chose to protect these federal waters from oil exploitation in 1981. And Congress has voted to renew that ban every year since then.

Offshore oil drilling rig: Photo by Beau Wade (CC)

But today, these federal protections are under attack.

Let me be clear: lifting the moratoria is a false promise and an unnecessary risk.    » read more »

Seoul -- 17 June 2008 -- South Korea's biggest labor confederation says its members will go on strike, next month, to protest the policies of the country's president. The labor troubles heap new crisis on an administration facing mass street protests about trade with the United States.

The Korean Confederation of Trade Unions announced Tuesday it would conduct a nationwide general strike on July 2. And, KCTU president Lee Seok-haing says that is just the beginning.

Lee says after the strike, there will be several days of organized labor protests.

The KCTU is an umbrella union group for more than 600,000 members, working in nearly every sector of the country's economy.    » read more »

June 17, 2008 -- Connecticut Governor M. Jodi Rell today signed into law a bill that rolls back a planned increase in the state gas tax and opens the door to more gasoline stations offering customers a discount for making purchases with cash.

Senate Bill 1000, An Act Concerning Adjustments to Certain Petroleum Products Taxes, Petroleum Franchise Agreements, Gasoline Discounts for Consumers, Home Heating Oil and Propane Gas Contract Deposits and the Fuel Conservation Account, was passed during the special session last week.    » read more »