Coloradans blame market speculation and oil companies for high gas prices, and the vast majority say the best way to bring prices down is to crackdown on market manipulation, according to a poll released Tuesday.
Sen. Bernie Sanders (I-Vt.) introduced legislation today that would order the federal commodity regulators overseeing futures trading to limit the positions on oil speculators in an effort to curb high gas prices.
The bill, titled End Excessive Oil Speculation Now Act of 2011, has been in the making for weeks More…
Bloomberg News reports that despite the continued effects of the recession felt by many Americans (unemployment levels, for example, still hover near 9 percent), corporations are posting some of their highest profits in decades.
Although financial indices have slumped recently because of the tsunami in Japan and a More…
In this month’s trickle of economic data comes a little good news for the market, even if it’s perhaps not great news for people’s bank accounts: Consumer spending was up even as incomes were flat in February. Spending wasn’t up by much — just .3 percent — but More…
It’s not just the government that’s considering bailing out the auto industry. Several utilities executives are considering ordering thousands of plug-in electric cars.
Shock, surprise! Exxon Mobil Corp. reported record-breaking quarterly profits today. The oil company earned $14.83 billion in its fiscal third quarter, more than any company in U.S. history.
Hearing the news, Sen. John McCain accused Sen. Barack Obama of being in the pockets of Big Oil, a charge More…
After a summer of grimacing at the pump — with gas prices reaching an average of $4 a gallon — consumers are finally getting some relief. Just a few months ago, the cost of crude oil was as high as $140 a barrel. Now it More…
Since oil prices plummeted to below $70 a barrel, the Organization of Petroleum Exporting Countries has been talking about cutting oil production to respond to a demand that just keeps dropping. Today, OPEC is doing it. It announced a plan to cut oil output by 1.5 million barrels.
With the price of oil dropping to around $74 a barrel — and gasoline prices, on average, falling below $3 a gallon — the alternative-energy industry may have something to lose. The drop in oil prices stems from the global credit crisis and the recession fears it has spawned.
The More…
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