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Tag Archives: crude oil

Pipeline review to be co-led by NY environmental agency

ALBANY, N.Y. — Oversight of a new oil pipeline between the Port of Albany and New Jersey refineries will be led jointly by New York’s Department of Environmental Conservation and Thruway Authority, the agencies announced Monday. The announcement followed weeks of letters and resolutions from local officials and environmental groups opposing the Thruway Authority’s request for sole lead agency status. In ...

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Lower oil prices could help add $232 million to New Mexico revenue

New Mexico State Flag -- The Capitol Santa Fe (NM) 2013

The top budget writer for Republican Gov. Susana Martinez, who prides herself on being fiscally conservative, said Monday it is state lawmakers who might be too bearish in their economic outlook for New Mexico as lower gasoline prices boost consumer spending. And despite the governor’s unhappiness with New Mexico’s dependence on federal dollars, a good chunk of new federal money ...

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Shifting markets may make Portland Pipe Line redundant

The Portland Pipe Line, built 74 years ago to provide for the safe transport of crude oil to Quebec at a time when German U-boats were patrolling the western Atlantic, may be obsolete by the new year. That would mean fewer oil tankers calling on Portland Harbor and less work for tugboats, harbor pilots, line handlers, marine fuel suppliers, ship ...

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Oil prices rise slightly, investors eye OPEC meeting

TOKYO – Crude oil prices rose in early Asian trade on Monday, although gains were limited as investors look ahead to an OPEC meeting where ministers from the oil producing group will set policy in the face of a market still in glut. Oil prices are heading for declines of as much as 10 percent this month as optimistic assessments ...

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Oil falls as spotlight returns to growing glut

NEW YORK – Crude oil futures fell back towards $45 per barrel on Wednesday as the dollar gained and investor focus shifted back to a deep global supply glut. Brent <LCOc1> was down 57 cents at $45.55 a barrel at 1554 GMT, having touched a low of $45.11. The benchmark hit its highest since Nov. 11 at $46.50 on Tuesday ...

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As crude oil swells, volatility-hungry traders turn to refined products

LONDON – In a world overflowing with oil, traders are looking to once-secondary markets such as gasoline and diesel for profits, as limited supplies and rapidly changing demand offer the volatility they thrive on. In recent months, surprise shutdowns at relatively small refineries or extreme weather conditions have led to spikes in prices of gasoline and other products – allowing ...

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Editorial: Lifting crude-oil export ban would help Big Oil, hurt the rest of us

In 1975, after the country was shaken by the Arab oil embargo, Congress passed a ban on exporting crude oil from the United States. The motivation was to promote domestic fuel production and efficiency and to decrease U.S. dependence on foreign resources. Forty years later, we’re still working toward these goals. And we’re also trying to slash greenhouse-gas emissions, which ...

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