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Posts Tagged “

Oil

The WSJ Buzzwatch blog has a list of 50 things that are being blamed on the high cost of oil. Not all of them are bad, apparently my hometown of Elgin, IL is getting a new wind-turbine parts plant. [WSJ Buzzwatch via Kottke]

The current standby policies of 12 airlines. Free standby is going... going... [Dan's Deals]

midwest airlines

Midwest Airlines CEO Takes 40% Pay Cut

CEO Timothy Hoeksema will accept a pay cut of 40% as Midwest Airlines attempts to cut costs. From The Business Journal of Milwaukee: More »

poison control

Don't Drink Lamp Oil Or You'll Die

Lamp oil manufacturers have issued a new warning: don't drink lamp oil. The TV says someone died recently after doing so. Not sure what the story is, but like other household products, it's important to keep them in their proper containers. For instance, some colored lamp oils can look like cranberry juice. Here are some other poisons and the foods they can look like.

A Consumer Reports study finds that 79% of consumers surveyed say they plan on buying a car with better fuel economy. [Consumer Reports]

To beat high oil prices, an Indiana man Greg Losh, has built an oil well in his back yard. The oil comes from the Trenton oil field and produces 3 barrels a day. The project cost $100,000. He plans to build 4 more. [WLKY]

Oil has hit a new high of $126 a barrel. If you listen quietly you can hear the sound of Delta and United softly weeping. [AP]

Oil is now $117 a barrel, a record high. [ABC News]

Reader Saves $950 By Ridding Life Of Fees, Overpayments Moriconi writes in to tell us how he was able to save $950 this week by uprooting the hidden fees and renegotiating the things in his life he was paying too much for. Awesome! Here's his true story:

airlines

Everyone But Northwest Matches $50 Fuel Surcharge

All of the legacy airlines, with the exception of Northwest, have matched United Airlines $50 roundtrip fuel surcharge announced Friday. Airfare maven Rick Seaney says that Northwest is usually the last one in when it comes to price increases, but if they don't follow suit by tomorrow, then the other airline could begin to wobble and drop the surcharge.

Seems kind of unfair that everyone gets charged the same, regardless of how long their flights are. What about prorating it based on how much fuel is actually getting used on the flight?

Northwest Airlines - Lone Holdout on the $50 Roundtrip Airline Ticket Fuel Surcharge [Rick Seaney]
(Photo: smcgee)


how to

Get 100 Gallons Of Heating Oil For Free

Venezuelan President Hugo Chavez wants to give you 100 gallons of free heating oil to help survive the cold cruel capitalist winter. The hogshead of liquid warmth is available to anyone enduring a financial hardship who fills out a handy online form. More »

fees

United Increases Fuel Surcharge To $50

United Airlines will increase the fuel surcharge on roundtrip tickets to $50, a new industry high. "Every penny increase in a gallon of jet fuel costs our industry $195 million annually, and while we operate more efficiently, we must be able to pass commodity costs on to customers, as other industries do," said UAL spokeswoman Robin Urbanski. The new surcharge is more than double the previous charge. Other airlines haven't yet commented on whether they will match the move. Just another reason to not fly United.

UAL raises surcharge to offset soaring fuel costs [a wire service]
(Photo: Ben Popken)


High prices at the pump are here to stay for the near-future, OPEC decided to maintain current production levels. [AP]

opinion

"Black Friday Is Obscene And Needs To Die"

SF Gate columnist Mark Morford hates Black Friday, and he's written an over-the-top Network-style screed against it, backing it up with some cringe-inducing YouTube clips of giddy, running Americans swarming into retail outlets last Friday morning.
More »

ouch

Gas Prices Could Rise By 20 Cents In The Coming Weeks

USAToday is reporting that gas prices could jump by $0.20 in the coming weeks as retail prices catch up to the recent surge in oil costs. More »

financial advice

How $100/Barrel Oil Will Affect You

Oil is poised to break the century mark, and SmartMoney has a short article that examines the effects it will have on the average American's budget. A couple of reasons why we haven't felt more of these effects so far is that the rising cost has largely been eaten by oil refining companies and their gas stations, and because consumers have actually begun to reduce their gas consumption. However, if the price-per-barrel continues to rise, the U.S. faces a cold winter, and the dollar continues its anemic performance, you can look forward to the following consequences: More »

weights and measures

1/3 Of South Florida Gas Pumps Failed State Accuracy Tests

More than a third South Florida's gas station pumps have failed the state's accuracy test in the past three years. An analysis of state inspections reveals that slightly more than half of the broken pumps err in favor of the consumer. The state inspects all pumps every 12-18 months.
The Sun-Sentinel analyzed state inspection reports from 2004 to 2006. The analysis found 580 of more than 2,500 stations in South Florida had at least one pump dispensing more gas than customers paid to purchase, while 477 provided less fuel than they should.
More »

It's conceivable that oil could hit $100 a barrel soon, but the increases are being driven by momentum traders and speculators more than by fundamentals, say some analysts: "Hedge funds and other players are supremely in control of this market. It's a case of the tail wagging the dog." [BusinessWeek]