oil

This Fort Lupton, Colorado couple's water catches fire. It didn't use to catch fire, not until the natural gas drillers moved in and contaminated the groundwater.  More »

Heartland Automotive Services, Inc., which runs 31 Jiffy Lubes in the Austin area, has to pay a $300,000 fine after admitting to pumping used oil into the city's sewer system instead of recycling it. Normally shops are paid by the gallon for used oil, but in this case a damaged wall let water seep into the oil collection area and create a toxic mess that couldn't be sold—so instead of paying to remove it, they pumped it down the drain.  More »

Exxon has set another record for profitability, with $45.2 billion in 2008, up from $40.6 billion in 2007. As prices fell in the fourth quarter, however, Exxon's income fell 33 percent. [NYT]  More »

I just don't get it. Does Consumerist know of a good media source that has a *current* (i.e., in the last week or two) breakdown of why the heck gasoline prices are rising 10 cents a week and more in the last month?  More »

If you thought oil speculators as the reason behind the historic gas prices spikes of this summer was debunked, think again. From '07 to when the price of oil collapsed, supply increased and demand dropped. According to basic economic theory, this should've meant the price went down. But all of a sudden an influx of capital, an infusion that brought the total at play from $13 billion to $300 billion, brought to market by large investment bankers, exploiting de-regulation and trading in black box private exchanges made possible by Enron, drove the price of oil from $69 to almost $150. A new 60 Minutes report explores the issue. Video inside.  More »

Oil prices have fallen below $40 a barrel, a 4 year low, despite OPEC announcing that it would cut production by 2.2 million barrels a day.   More »

Oil is now nearing a 4-year low as the world's economic crisis keeps on truckin', says the Wall Street Journal. Light, sweet crude (don't you just love that term?) is now trading at 44.56 a barrel on the New York Mercantile Exchange. "The price was the lowest since January 2005 and more than $100 below oil's record close July 3," says the WSJ. So, what does that mean for travelers?  More »

Here's an interesting situation. When babies fly domestically, they fly for free -- but international flights require a ticket and, apparently, a huge fuel surcharge.   More »

Heating oil prices got you down? Thinking of burning some wood to stay warm this winter? You're not the only one. In fact, Consumer Reports says that firewood prices are through the roof this fall. It's gotten so bad that people are actually stealing wood.  More »

Did you know that gas price gouging almost never occurs as prices rise? Rather, it's most often when dealers keep prices artificially high even as their costs fall. As gas costs were near $5 a gallon until falling and oil companies earn around $100 billion each year, it's a good time to question what really goes into the price of gas. The numbers on the gas station sign hide a complex set of transactions. Before gas can power your car, it must be discovered as crude oil, traverse three markets, and be refined from crude into gas. Inside, we'll explain the three markets, walk you through the role of refineries, and show how oil companies use creative tactics to manipulate gas prices...  More »

Want to know where your fifties go when you fill up your car with gas? GOOD's latest chart breaks down the assorted costs, and compares them with other places around the globe. You can grab a free printed copy at any Starbucks, or go here to check it out in bright RGB goodness.  More »

Consumer spending, the engine that powers our economy, is probably going to shrink for the first time in nearly two decades, says the NYT -- a move that will "all but guarantee" that the current economic crisis will deepen.  More »

Crude oil surged today up to $130. [CNBC]  More »

East Tennessee and Middle Tennessee both primarily receive fuel supplies through spurs of the Colonial pipeline, which carries refined gasoline from the Texas Gulf Coast to the Northeast. [Hurricane] Ike damaged and knocked out power to many of those refineries, cutting the amount of gasoline fed into the pipeline.  More »

Airlines have added all sorts of fees to compensate for their increased oil costs recently. Now that oil has dropped, the fees are gone, right? Nope. Now that we're all acclimated to a la carte pricing, which airlines have lusted to implement for ages, don't expect it to be going away anytime soon. $2 fee to have the window open, $4 to have it shut.  More »

United Airlines has decided that $25 was too generous a price to check your second bag with their airline, and have announced that they'll be bumping the fee up to $50.   More »

From November to June, American driving dropped by 53.2 billion miles, according to the Department of Transportation. Billion. 53.2 billion fewer miles. That's insane, and kind of beautiful. [NYT]  More »

To save money on heating costs this winter, consider joining or starting a fuel oil co-op. What's that?  More »

Reader Andrew says he's certain that Jiffy Lube purposefully filed down his oil plug so that he couldn't change his oil himself. Conspiracy? Or incompetance? You decide.  More »