Free Republic

NEW YORK (CNNMoney.com) -- As much as Americans fret over the rising price of gas, one thing worries them more: the possibility of having to wait in long lines to buy rationed gas. A CNN/Opinion Research poll released Tuesday shows that 55% of those surveyed are more worried about long lines at gas stations and rationing than about the high prices that drivers have paid in recent months. The poll shows 40% of the respondents are more concerned about the high prices. While gas rationing is not expected at this time, it was a hallmark of the 1970s- era energy...

Oil rose above $133 a barrel Monday on persistent worries about global petroleum supplies and the outlook for the U.S. economy and the dollar. Reports of an attack by militants on an oil pipeline in Nigeria, one of Africa's largest oil exporters, also helped boost prices. Light, sweet crude for July delivery on the New York Mercantile Exchange was up 88 cents at $133.07 a barrel in electronic trading by late afternoon in Europe. The contract rose $1.38 to settle at $132.19 a barrel on Friday. Nymex floor trading was closed Monday for Memorial Day and it also was a...

Oil prices dropped by $1 a barrel Monday, resuming last week's plunge as ample heating oil supplies go unused due to mild weather in the Northeast United States. Prices had briefly rebounded in earlier trading on reports that OPEC oil ministers are considering another cut, and worries that a dispute between Russia and Belarus could result in energy shortages in parts of Europe. However, the rally failed to take hold. Although forecasters say temperatures in the Northeast should return to normal over the next couple weeks, it won't be enough to make up for the recent historically warm weather. U.S....

LAGOS, Nigeria (Reuters) -- Nigerian oil unions began an unexpected two-day strike at Royal Dutch Shell Group facilities to protest against feared job cuts in the world's seventh largest oil exporter. Shell, which pumps about a million barrels a day of Nigeria's 2.3 million bpd output, said output and exports had not been affected. Unions said the action could be suspended early on Friday if talks between the two sides resumed, as expected. "The unions PENGASSAN and NUPENG have commenced a two-day industrial action. Efforts are being made to minimize the impact of this on the company's operations,'' a Shell...