Forums: Gasoline

Are we headed for $7 a gallon gasoline? With President Obama’s war that appears to now be underway against the Oil and Gas Industry as evidenced by his now declared six-month moratorium on deepwater offshore drilling, that is what may be on the horizon. Ben Lieberman writes in the New York Post that $7 a gallon is what a Harvard University study found would be the cost of Obama’s Cap and Trade legislation – which Obama is once again trying to push as he seeks to not waste the Gulf Oil Spill Crisis as an opportunity to get another aspect...

President Obama will announce on Thursday a suspension of all applications for offshore oil drilling in the Arctic through the remainder of the year, an Alaska senator said late Wednesday. The decision essentially extends an informal moratorium that Mr. Obama had set shortly after the BP accident on April 20 that led to the spewing of millions of barrels of oil into the Gulf of Mexico. The new restrictions would suspend new offshore drilling permits in the Gulf of Mexico and off the North Slope Alaska until the cause of the accident is determined and stricter safety and environmental safeguards...

Will the potential of higher fuel prices affect your plans for Summer travel? Yes, if I can't affford gas, I won't go anywhere. Maybe, it's too soon to tell right now. No, my vacation plans are more important than the price of gas.

The Brazilian Sugarcane Industry Association (UNICA) is discounting gasoline by 54 cents per gallon on the Tuesday before Memorial Day at two Capitol Hill gas stations to draw attention to a 54 cents per gallon tariff on imported ethanol. “The one-day discount will provide Washington area residents with a preview of how Americans across the country could save money at the pump if Congress ends this unfair import tax later this year,” reads the UNICA release on the promotion. Growth EnergyThe promotion is not sitting well with ethanol organization Growth Energy. “The only thing we should be importing from Brazil...

Auto Safety: As a Toyota Prius with a stuck accelerator races down a California freeway, no one mourns the victims of the fuel economy standards imposed by Congress. Forced into smaller cars, thousands have died. We can barely imagine the panic felt by James Sikes, 61, as his Toyota Prius accelerated uncontrollably while he drove down Interstate 8 in San Diego County. We can imagine the continuation of the grandstanding by the owners of "government motors" as they further browbeat a competitor of government-run GM and Chrysler. We do not minimize the safety issues here that need to be addressed,...

If Oil Prices Are Telling Us Anything, The World Economy Is In For A Rough Ride Joe Weisenthal May. 15, 2010, 10:23 AM Forget European banks for the moment. We know why they're troubled. Check out oil. StockCharts.com:Image: StockCharts.com It took a huge leg down on Friday, and if you're the type who cares about lines and technicals, it's now well below the 200-day moving average, which screams bear market (and would also seem to scream deflation). Of course, it's been impressively volatile, and was this low right after Scott Brown. Now on the other hand, investors continue to sing...

We all remember how painful it was when gasoline prices surged past four bucks a gallon a couple years ago. The price is now around $3 a gallon. That steep sum will seem like chump change if global-warming alarmists in Congress have their way. Long-anticipated climate-change legislation is scheduled to be unveiled in the Senate today. The ostensible purpose is to clean the air by cutting carbon emissions 17 percent below 2005 levels by 2020. If the bill becomes law, though, consumers will get smoked as they are forced to pay more for a fill-up. Backers of this measure are...

Although initially Aston Martin didn’t intend to bring the V12 Vantage to the U.S. market, the British sportscar maker is planning to introduce this model in the fourth quarter of 2010, according to Inside Line. Based on the 2007 V12 Vantage RS Concept, the roadgoing V12 Vantage was launched in Europe in 2009, being a heavily modified version of the standard V8 Vantage. Aston plans to build only 1,000 units of this car, which is powered by a 510 horsepower V12 engine. Since the V12 Vantage was never destined for the U.S., Aston Martin had to make extensive modifications to...