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Keyword: refinerycapacity

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  • Top 10 reasons to blame Democrats for soaring gasoline prices

    06/16/2008 5:20:51 AM PDT · by Ooh-Ah · 60 replies · 678+ views
    American Thinker ^ | June 16, 2008 | William Tate
    This started out as an attempt to create a light and humorous, Letterman-esque Top 10 list. But the items on the list, and the drain Americans are seeing in their pocketbooks because of Democrats' actions (sometimes inaction) are just too tragic for that. 10) ANWR  If Bill Clinton had signed into law the Republican Congress's 1995 bill to allow drilling of ANWR instead of vetoing it, ANWR could be producing a million barrels of (non-Opec) oil a day--5% of the nation's consumption. Although speaking in another context, even Democrat Senator Charles Schumer, no proponent of ANWR drilling, admits that "one million barrels...
  • Crude Oil Futures Fall ($56.79/bbl)

    11/29/2005 2:15:33 AM PST · by RWR8189 · 18 replies · 772+ views
    Associated Press ^ | November 29, 2005 | Gillian Wong
    SINGAPORE (AP) -- Crude oil futures fell Tuesday as unseasonably mild weather along the U.S. East Coast spurred hopes that this year's Northern Hemisphere winter could be warmer than expected, weakening demand for heating fuel. Light, sweet crude for January delivery on the New York Mercantile Exchange lost 34 cents to US$57.02 a barrel in Asian electronic trading. The contract fell US$1.36 to settle at US$57.35 a barrel Monday. In London, January Brent fell 53 cents to US$54.35 per barrel on the ICE Futures exchange. In recent weeks, the market has been fixated on weather patterns in the northeastern U.S.,...
  • Crude Oil Futures Drop Below $58 a Barrel ($57.59/bbl)

    11/28/2005 3:25:31 AM PST · by RWR8189 · 7 replies · 1,563+ views
    Associated Press ^ | November 28, 2005 | GILLIAN WONG
    SINGAPORE - Oil futures fell nearly a dollar, dropping below $58 a barrel, as forecasters predicted warmer weather early this week in the U.S. Northeast, the world's largest heating oil market, easing fears of a spike in fuel demand. Light, sweet crude for January delivery slipped 86 cents to $57.85 a barrel on the New York Mercantile Exchange in electronic trading late afternoon in Singapore. In London, January Brent crude rose 29 cents to $55.30 a barrel on the ICE Futures exchange. "The market's reacting to forecasts that heating oil demand will be 20 percent below normal this week, giving...
  • Oil at 4-month low under $57 ($56.78/bbl)

    11/16/2005 2:33:08 AM PST · by RWR8189 · 14 replies · 727+ views
    Reuters ^ | November 16, 2005 | Paul Marriott
    SYDNEY (Reuters) - Oil dipped to a four-month low under $57 a barrel on Wednesday as dealers braced for a fresh increase in U.S. oil inventories amid unseasonally warm weather. U.S. crude fell as low as $56.82 a barrel in electronic trading, its weakest since July 21. It was trading down 2 cents at $56.96 a barrel by 0746 GMT, extending an 11-week slump that has wiped 20 percent or nearly $14 off prices. London Brent crude was down 3 cents at $55.15. Although some analysts continue to predict a turnaround once temperatures fall and if OPEC opts to cut...
  • Stevens aims at Washington refinery limits

    11/15/2005 4:08:57 PM PST · by Species8472 · 14 replies · 522+ views
    Anchorage Daily News ^ | 11-15-05 | The Associated Press
    FAIRBANKS -- An Alaska senator wants to lift restrictions on a Washington state refinery despite objections by a senator in the state. U.S. Sen. Ted Stevens, R-Alaska, wants to lift a long-standing restriction on BP's Cherry Point refinery in Puget Sound. Current federal law, Stevens said on the Senate floor last week, lets Puget Sound refineries obtain new dock permits only if any new gasoline production related to the project stays within Washington. "I have introduced legislation to repeal this outdated and unfair law that results in limited supplies to other regions," Stevens said. Sen. Maria Cantwell, D-Wash., opposes the...
  • Crude Oil Futures Slip ($57.28/bbl)

    11/15/2005 2:34:34 AM PST · by RWR8189 · 5 replies · 706+ views
    Associated Press ^ | November 15, 2005
    SINGAPORE (AP) -- Crude oil futures drifted lower Tuesday as an International Energy Agency official said high pump prices have hurt fuel demand. Light, sweet crude for December delivery fell 6 cents to US$57.63 a barrel in Asian electronic trading on the New York Mercantile Exchange. The contract Monday rose 16 cents to settle at US$57.69. In London, December Brent crude fell 8 cents to US$54.65 a barrel on the ICE Futures exchange. High oil prices have started dampening global demand and the slowdown in consumption growth could in turn push prices lower, Noe Van Hulst, the International Energy Agency's...
  • Oil Prices Up on Northeastern Forecast ($57.94/bbl)

    11/14/2005 3:19:00 AM PST · by RWR8189 · 12 replies · 860+ views
    Associated Press ^ | November 14, 2005
    SINGAPORE - Crude oil futures opened the week slightly higher, briefly rising above $58 a barrel, on predictions a cold snap was headed for the northeastern United States, the world's biggest winter heating fuel market. Light, sweet crude for December delivery rose as much as 57 cents to $58.10 a barrel in electronic trading on the New York Mercantile Exchange, before slipping to $57.78. The contract fell to $56.93 a barrel last week before closing at $57.53 Friday. December Brent crude on London's International Petroleum Exchange was 20 cents higher at $55.19 a barrel. Friday's close was the benchmark contract's...
  • Oil Prices Fall Further Below $58 ($57.12/bbl)

    11/11/2005 2:36:41 AM PST · by RWR8189 · 34 replies · 1,106+ views
    Associated Press ^ | November 11, 2005
    SINGAPORE - Crude oil futures slipped further below $58 a barrel Friday amid reports of rising supply and falling demand. Light, sweet crude for December delivery fell 9 cents to $57.71 a barrel on the New York Mercantile Exchange in electronic trading in Singapore. On Thursday, the contract fell to $57.80, the lowest level for the front-month contract since July 21. The U.S. Energy Information Administration released data that showed natural gas in storage grew more than expected last week, surpassing a level that many analysts believe is necessary to meet winter demand. The Paris-based International Energy Agency said in...
  • Oil Futures Hold Steady Below $60 a Barrel ($59.57/bbl)

    11/02/2005 3:09:11 AM PST · by RWR8189 · 21 replies · 665+ views
    Associated Press ^ | November 2, 2005 | Christopher Torchia
    SINGAPORE (AP) -- Crude oil prices held steady just below US$60 a barrel on Wednesday after predictions of warmer weather in the United States sparked a big drop two days earlier. Market experts said prospects for rising demand could keep prices at current levels. Light, sweet crude for December delivery gained 5 cent to US$59.90 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, the contract rose 9 cents to settle at $59.85 a barrel on the New York Mercantile Exchange, where a day earlier they had fallen nearly US$1.50 to a level about 15 percent...
  • Oil drops, Wilma spares Gulf ($59.70/bbl)

    10/24/2005 2:59:40 AM PDT · by RWR8189 · 18 replies · 1,044+ views
    Reuters ^ | October 24, 2005
    LONDON (Reuters) - Oil shed nearly a dollar on Monday, sinking below $60 after Hurricane Wilma bypassed storm-battered U.S. oil and gas facilities in the Gulf of Mexico. U.S. light crude fell as low as $59.56 a barrel, the lowest since July 28. It was down 93 cents by 0922 GMT to $59.70, reversing a gain of 61 cents on Friday on fears Wilma could hinder the recovery of oil operations in the Gulf. Prices were 16 percent below the record-high of $70.85 a barrel struck in late August in the wake of Hurricane Katrina. London Brent crude lost 96...
  • Oil drops $1, Wilma threat eases ($63.43/bbl)

    10/18/2005 4:47:33 AM PDT · by RWR8189 · 3 replies · 589+ views
    Reuters ^ | October 18, 2005
    LONDON (Reuters) - Oil fell $1 a barrel on Tuesday as a threatened hurricane was expected to miss rigs and refineries in the U.S. Gulf and the world's top banker said record prices were eroding demand. U.S. crude lost 98 cents to $63.38 a barrel by 1125 GMT, after a gain of 2.8 percent on Monday. London Brent crude was $1.06 down at $59.51 a barrel. Tropical Storm Wilma gained strength in the Caribbean Sea and was expected to become a full-blown hurricane, but its path was set to shift east toward Florida and away from the heart of U.S....
  • Oil up after IEA says demand resilient ($62.30/bbl)

    10/11/2005 5:03:23 AM PDT · by RWR8189 · 3 replies · 457+ views
    Reuters ^ | October 11, 2005 | Janet McBride and Peg Mackey
    LONDON (Reuters) - Oil climbed back above $62 on Tuesday after the International Energy Agency said it saw no lasting damage to demand that has pushed producers and refiners to the limit and could lead to fuel shortages this winter. There have been signs recently that persistent high prices are taking their toll on the economies of the world's big consumers. Hurricanes that battered U.S. Gulf rigs and refiners catapulted oil to new record highs, finally crimping fuel use. But the IEA, adviser to 26 industrialized nations, forecast demand growth would quicken to 1.75 million barrels per day next year...
  • Oil eases toward $62 ($62.08/bbl)

    10/06/2005 3:57:34 AM PDT · by RWR8189 · 54 replies · 882+ views
    Reuters ^ | October 6, 2005 | Jiwon Chung
    TOKYO (Reuters) - Oil prices fell for a fifth day on Thursday, dipping to their lowest level in two months after U.S. government data showed a drop in oil demand in the world's largest consumer. U.S. crude futures for November slid 19 cents to $62.60 a barrel, having earlier traded as low as $62.23. London Brent crude was down 32 cents to $59.80. Oil prices have fallen sharply from their August 30 record high of $70.85 on signs that soaring costs are eroding demand, offsetting fears over tight supplies in the wake of hurricanes that toppled production platforms and shut...
  • Crude Oil Prices Slide ($64.83/bbl)

    10/04/2005 4:01:29 AM PDT · by RWR8189 · 12 replies · 629+ views
    Associated Press ^ | October 4, 2005 | GILLIAN WONG
    SINGAPORE -- Oil prices slipped Tuesday after the U.S. government indicated it might release emergency stockpiles of heating oil to combat supply disruptions from recent hurricanes. But energy futures were not expected to continue their retreat for long, analysts said, because a U.S. petroleum inventories report due later in the week was likely to show that Hurricane Rita hurt supply ahead of the coming Northern Hemisphere winter. Midmorning in Singapore, light, sweet crude for November delivery fell 16 cents to $65.31 a barrel in Asian electronic trading on the New York Mercantile Exchange. The contract fell 77 cents to settle...
  • Oil holds above $66 ($66.60/bbl)

    09/29/2005 4:34:03 AM PDT · by RWR8189 · 12 replies · 3,767+ views
    Reuters ^ | September 29, 2005 | Peg Mackey
    LONDON (Reuters) - Oil held firm above $66 a barrel on Thursday stoked by fears that hurricane-wrecked U.S. refineries would be unable to churn out ample heating fuel to warm American consumers this winter. But Europe was riding to the rescue again, booking tankers of gasoline and heating oil to move transatlantic to help prevent a full-blown fuel crisis in the world's biggest oil consumer. Strikes in France, a leading U.S. oil products supplier, meant French refiners might sit on the sidelines. U.S. crude on the New York Mercantile Exchange was up 6 cents at $66.41 a barrel by 1000...