The NOAA announced that a “small” amount of oil from the BP oil spill has reached the Loop Current, a warm Gulf current that passes through east to the Florida Straits and could spread any oil up the East Coast. [More]
oil
BP Sucking Off 1,000 Barrels/Day From Spill, Only Thousands More To Go
By 5.17.10
By attaching a mile-long pipe to its leaking well, BP is now able to slurp off 1,000 barrels of oil daily. The Gulf of Mexico spill currently emits about 5,000 barrels of oil per day, according to BP/Coast Guard/NOAA estimates, which have been challenged by independent scientists who put the figure more at 70,000 barrels per day, and criticized BP for using methodology specifically not recommended for measuring large oil spills. BP’s response: we’re here to stop the oil, not measure it. Scientists are also concerned that the oil could reach a major stream that would ferry it into the Florida Keys and up the East Coast. Looks like we’re gonna need a bigger milkshake straw. [More]
BP's Oil Cap Misses, Crude Still Spews
By 5.10.10
BP failed in its efforts this weekend to stop the worst of the Gulf of Mexico oil leaks with a 98-ton concrete and steel cap. The company said the dome’s aperture became clogged by gas hydrates, and the hydrates also nearly built up to a level that would have lifted and dislodged the the stopper. “I wouldn’t say it has failed yet,” said Doug Suttles, a BP officer, at a news conference Saturday. “What I would say is what we attempted to do last night didn’t work.” BP said later this week they will try to plug the hole with rubber. [More]
BP Sending Massive Funnel To Contain Oil Spill
By 5.6.10
BP is in the middle of constructing has built a 100-ton concrete and steel funnel that will be placed over the Gulf of Mexico oil leak to contain it and allow the oil to be pumped onshore. The placement, which I imagine is something like an incredibly stressful large-scale version of The Claw Game, is scheduled for noon eastern today. Will it do the trick? [More]
Energy Co Fills House With Oil, Endangering Family
By 2.5.10
A Long Island family was nearly incapacitated after a local energy company mistakenly delivered oil into a disconnected pipe on the front of their house, dumping nearly 50 gallons of heating oil into their basement. [More]
Tapwater Catches Fire After Natural Gas Drillers Move In
By 10.14.09
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.
Austin Jiffy Lubes Too Cheap To Dispose Of Oil Properly, Keep Dumping It In City Sewer System
By 4.10.09
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.
By 1.30.09
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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]
So, Why Is The Price Of Gas Rising Now?
By 1.19.09
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?
Video: Oil Speculators To Blame For Record Gas Prices After All
By 1.12.09
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.
Despite OPEC's Best Efforts, Oil Prices Have Slipped Below $40 A Barrel
By 12.18.08
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.
What Would $40 A Barrel Oil Mean For Travelers?
By 12.4.08
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?
Should An Infant With No Seat Have To Pay A $320 Fuel Surcharge?
By 11.1.08
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.
Firewood Is The New Hotness. Literally.
By 10.14.08
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.
Why Was Gas So Expensive?
By 10.13.08
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…
Find Out Where Your Money Goes When You Buy Gas
By 10.7.08
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.
Consumer Spending Will Shrink For The First Time In Nearly Twenty Years
By 10.6.08
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.
By 9.22.08
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Crude oil surged today up to $130. [CNBC]
