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Showing posts with label gas. Show all posts
Showing posts with label gas. Show all posts

Monday, January 5, 2009

War on Gaza pushes oil prices up

War on Gaza pushes oil prices up
January 5 2009
Oil prices have surged nearly one dollar in Asia due to the war on Gaza and concerns over the Russia-Ukraine gas supply dispute.

US light sweet oil for February delivery jumped 86 cents to 47.20 dollars a barrel on Monday, while London Brent gained 61 cents to reach 47.52 dollars.

Traders say Israel's ten-day incursion into the Gaza Strip, which has claimed more than 520 Palestinian lives and left 2790 more wounded, has added to the geopolitical risk of obtaining crude supplies from the Middle East.

They believe Russia's stand-off with Ukraine over gas prices has also pushed oil up.

At the same time, the United States and China, the two largest oil consumers of the world, have announced that they are seeking more oil to build up reserves.

The developments came after a senior military commander from oil-rich Iran called on Muslim states to cut crude exports to all countries supporting Israel and its policies against the Palestinians.

"Oil is among the major stimuli that can pressure the Zionist regime's supporters in the US and Europe," Brigadier General Mir-Faisal Baqerzadeh, head of the Foundation for the Remembrance of the Holy Defense, said Sunday.

'Cut oil exports to Israel supporters'
European leaders head to ME, death tolls rise
Iran criticizes Arab, Int'l inaction over Gaza

Thursday, June 12, 2008

Blunt: Given Chance to Bring Down Price of Gas, Democratic Appropriators Vote NO! Straight Down the Line

WASHINGTON, June 11 /PRNewswire-USNewswire/ -- House Republican Whip Roy Blunt (Mo.) issued the following statement today after every single Democrat on the Interior Appropriations subcommittee voted to keep in place a policy that has kept billions of barrels of American oil and trillions of cubic feet of American natural gas off-limits to American consumers for nearly 30 years:

"In voting to keep America's vast deep-sea energy reserves under lock-and-key, Democrats on the subcommittee today may have been voting in line with their leadership - but they certainly weren't voting in line with the 104 million American families struggling to make ends meet in a world of $135 oil, $4.05 gasoline, and nearly $5 diesel.

"What these politicians fail to understand is that these abundant deep-sea energy resources don't belong to Congress - they belong to the American people. Unfortunately, for the last 27 years, Congress has prevented the American public from accessing them - and today's outrageous energy prices are in part the result of it.

"No other country in the world would even dream of locking away their most abundant energy reserves in an era of record-breaking energy prices. Leave it to this Congress to be this out of touch with the needs and interests of the American people."

NOTE: The Peterson amendment to the FY09 Interior appropriations bill failed 6 to 9, with every Democrat voting against the provision, and all Republicans voting in support. Democratic members of the subcommittee include: Norman Dicks (Wash.), James Moran (Va.), Maurice Hinchey (N.Y.), John Olver (Mass.), Tom Udall (N.M.), Ben Chandler (Ky.), Ed Pastor (Ariz.), Dave Obey (Wisc. - ex officio), and Alan Mollohan (W.Va.), who switched to "No" this year after voting in support in previous years.

SOURCE House Republican Whip Roy Blunt