Posts Tagged ‘oil’

Holy smokes, has anyone seen energy prices lately?

April 8, 2011

With the DC posturing over the budget and an Iowa man on the 31st day of his beer-only fast dominating the news, I wonder how may people has noticed what’s going on with energy prices.  Oil nosed up to $112/barrel.  And I paid $3.90 a gallon for regular yesterday.  And all this before the summer season when gas prices usually go up.  People are starting to get nervous–and rightly so–about heating their homes next winter.   I wonder if as consumers we’ll plan ahead and take action now to make the home economics work, or if we’ll put things off like Congress.

Cheers,
Mike

Oil closes above $105. Gasoline averages over $3.50

March 7, 2011

Chris Kahn of the AP reports:

“Oil prices continued to set new post-recession highs Monday as forces loyal to Moammar Gadhafi pounded rebels near a key oil port in Libya. It’s unclear how long the country’s oil exports will be cut off, and traders prepared for a worst-case scenario in which world supplies would be under pressure for months.”

The climb continues to the pre-recession levels.  And we’ve done very little over the past 30 month the would enable us to smoothly staunch the flow of foreign energy to the U.S.   And so price spikes–or new higher plateaus–leave us very vulnerable.

Pickens criticizes API report

January 5, 2011

As reported by Rod Walton in Tulsa World, T. Boone Pickens, criticized the latest energy report by the America Petroleum Institute (API).  

“No one should be fooled by this report or surprised by its focus,” Pickens said in a statement after API President and CEO Jack Gerard’s address at the Newseum in Washington, D.C. “This is, after all, a group that includes and represents foreign oil companies, interests and holdings.

“The API ignores the fact that you cannot address the national security and economic threat of OPEC dependency without focusing on transportation; that accounts for more than two-thirds of U.S. oil use.”

One things for certain–we really don’t have a cohesive energy policy in this country.  Here’s hoping for change in 2011?

Thanks,
Mike

NYTimes: U.S. Military Orders Less Dependence on Fossil Fuels

October 16, 2010

Last week, the NY Times reported on the “greening” of the military, and their focus on reducing fossil fuel use.  There moving in this direction because it makes sense–it increases their operation security.

And as a country, we ought to be looking at it in much the same way.  This isn’t about tree-hugging (although I’m certainly now above hugging the occasional tree).  It’s also about economic vitality and national security.  If we throw our money overseas, it doesn’t stay here in our own communities.  If we rely on the rest of the world for our energy needs, we become beholden to them.  If we pump pollution into the atmosphere, we pay for it with increases health costs, damaged crops and forests, and barren lakes.

We should practice the common sense policy of efficiency first.  Because it’s smart economics, it increases our security, and it good stewarship of of resources–for its own sake and for ours.

Thanks,
Mike

Oil Prices are Dropping—Why Worry?

July 30, 2008

In the news over the past week we’ve seen stories about the price of oil “plummeting” to just under $125 per barrel. Whew!  I guess our troubles are over.
 
Wrong!  While some of the media are excited about the recent drop in Jay Romano raises the right flag in his July 24th article in the NY TimesTime to Worry About Heat Bills” .  
 
Oil prices are still about twice as high as they were a year ago.  And as goes oil, so goes the rest of energy prices.  Natural gas is up. Electricity is going up.  Even dirty coal is up.   And although they’re not beating the warning drum very loudly, the U.S. Department of Energy says we can expect them to stay up.   Utility prices will be higher this winter, and many people can expect to pay 25% more with some oil customers getting whacked with 100% increases.  Utilities continue to announce gas rate hikes and fuel oil continues to sell at prices double last year.  And electric rates are following suit.
 
The smart way to fight this and to protect your bank account in the long run is with energy-efficiency improvements.  Investment to save energy in your home start paying dividends immediately, and they’ll continue to pay you back through the winter and long into the future.
 
Taking steps to save now means you won’t have to worry regardless as energy prices bounce around tomorrow.

-Mike

 


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