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Obama Tells Oil Industry to Drill Idle Leased Land

Obama Tells Oil Industry to Drill Idle Leased Land

Digital Vision/Thinkstock(WASHINGTON) — After a drumbeat of complaints from energy companies that the Obama administration is blocking domestic oil and gas production, the Interior department released a report claiming that U.S. oil and gas producers …

37-Cent Gasoline? It Almost Happened in Wisconsin

37-Cent Gasoline? It Almost Happened in Wisconsin

Jupiterimages/Thinkstock(PLOVER, Wis.) — With gas prices across most of the country hovering near $4 a gallon for regular unleaded, drivers in Plover, Wis., were thrilled when they saw a local BP station advertising gas at 37-cents a gallon.But when h…

The Dow Ekes Out a Positive Close

The Dow Ekes Out a Positive Close

iStockphoto/Thinkstock(NEW YORK) — The Dow snapped a six-day losing streak Thursday, ending the day up 19.98 points. The S&P was also higher, but the NASDAQ ended the day negative. In the U.S., there was slightly better news on weekly jo…

Troubles in Europe Continue to Weigh Heavily on US Stocks

Troubles in Europe Continue to Weigh Heavily on US Stocks

Hemera/Thinkstock(NEW YORK) — Worries about European debt kept the markets down again Wednesday. The Dow was off by as much as 184 points before recovering some of the loss. The Dow ended Wednesday down 95 points. The Nasdaq lost 12, and the S&am…

Oil Producers in for a ‘Crude’ Awakening

Oil Producers in for a ‘Crude’ Awakening

Comstock Images/Thinkstock(NEW YORK) — Oil prices keep coming down.  Since the start of the month, the price of crude oil has dropped daily, falling to $96 a barrel Tuesday.
Analysts say it has to do with fears that the global economy is weakenin…

European Concerns Keep US Stocks Down Another Day

European Concerns Keep US Stocks Down Another Day

Comstock/Thinkstock(NEW YORK) — Investors are clearly concerned about the U.S. and European economies.  Stocks were down at the close of trading yet again Tuesday. The Dow closed down 76.44 points, or 0.6 percent, the fifth consecutive down day f…

US Stock Markets End the Day Mixed; Gas Prices Lower

US Stock Markets End the Day Mixed; Gas Prices Lower

Hemera/Thinkstock(NEW YORK) — It certainly wasn’t a stellar day on Wall Street, but the reaction to elections in Europe was rather muted. The Dow closed down 29.74 points, while the S&P and NASDAQ ended the day up slightly. Market …

Stocks Fall on Jobs Report; Oil Drops, Too

Stocks Fall on Jobs Report; Oil Drops, Too

Hemera/Thinkstock(NEW YORK) — The underwhelming monthly employment report  helped to push the markets down to end the week. With investors concerned about the pace of economic growth in the U.S., the Dow dropped 158 points, the Nasdaq lost 62 and…

Delta Airlines Buys Pennsylvania Oil Refinery

Delta Airlines Buys Pennsylvania Oil Refinery

Delta Airlines(TRAINER, Pa.) — Airlines everywhere have been suffering due to high fuel prices.  Now Delta Airlines has decided to purchase its own oil refinery from ConocoPhillips — a move the airline says will save around $300 million a year i…

Gas Down 4 Cents, Stocks and Oil Down Too

Gas Down 4 Cents, Stocks and Oil Down Too

Hemera Technologies/Thinkstock(NEW YORK) — Gas prices continued their slide down Monday. The average price of a gallon of regular gas is $3.83, down 4 cents from a week ago, according to the Department of Energy.  This price is also down 13 …

Gas Price Average Lower

Gas Price Average Lower

Comstock Images/Thinkstock(WASHINGTON) — The average price of a gallon of regular gas is $3.87, down a nickel from a week ago and down nearly a penny from a year ago, according to the Department of Energy.So it now costs less than it did a year ago to…

Stocks Slide on News from Europe, Low Earnings Reports

Stocks Slide on News from Europe, Low Earnings Reports

Scott Eells/Bloomberg via Getty Images(NEW YORK) — On Monday, stocks fell on worries about data from Europe showing that debt continues to pile up in countries that use the euro despite severe austerity programs. The Dow lost 102 points to close at 12…

Obama Seeks $52M, New Regs to Fight Oil Manipulation

Obama Seeks $52M, New Regs to Fight Oil Manipulation

Official White House Photo by Samantha Appleton(WASHINGTON) — President Obama is asking Congress for $52 million in new federal funding to boost oversight of oil markets, increase penalties for price manipulators, and raise margin requirements to redu…

Gas Prices Decline for Second Week

Gas Prices Decline for Second Week

Kevork Djansezian/Getty Images(WASHINGTON) — Gas prices have shown signs of leveling off in the last two weeks, with the average price of gas down for the second week in a row.The average price of a gallon of regular gas is $3.92, down nearly two cent…

Reports: Ford to Overhaul Iconic Mustang

Reports: Ford to Overhaul Iconic Mustang

Sam VarnHagen/Ford Motor Co.(NEW YORK) — Big changes are said to be in the works for the iconic Ford Mustang.The classic American brand will soon get a “radical makeover” both inside and out, according to the Wall Street Journal. A redesig…

Have Gas Prices Hit Their Spring Peak?

Have Gas Prices Hit Their Spring Peak?

Jupiterimages/Thinkstock(NEW YORK) — American motorists aren’t out of the woods just yet, but something is happening that’s putting less strain on consumers’ pockets books.It appears that rising gasoline prices, which were turning into a major electio…

High Gas Prices: Should You Blame Your Bank?

High Gas Prices: Should You Blame Your Bank?

iStockphoto/Thinkstock(NEW YORK) — Should you blame your bank for high gas prices? A new report out Tuesday says it’s not just supply and demand and Middle East politics that determine the price of a barrel of crude; Visa and MasterCard and the …

Glitch Results in $1 Gas in Texas

Glitch Results in $1 Gas in Texas

Jupiterimages/Thinkstock(HOUSTON) — The average price of gas in Texas is $3.83 per gallon according to GasBuddy.com, but some lucky drivers in Pasadena, Texas, only had to pay a dollar.Monday night a computer problem at the Conoco station resulted in …

Poll: High Gas Prices Not as Much of a Hardship as 2008

Poll: High Gas Prices Not as Much of a Hardship as 2008

Kevork Djansezian/Getty Images(NEW YORK) — Outside of Big Oil, no one is happy with the high cost of gasoline, but Americans seem to be coping with it better than during past fuel price spikes, according to a new ABC News/Washington Post poll.With gas…

Gas Price Average Settles Slightly Lower

Gas Price Average Settles Slightly Lower

iStockphoto/Thinkstock(NEW YORK) — Gas prices have taken a breather from their steady climb since January of this year.The average price of a gallon of regular gas is $3.939, down two-tenths of a penny from a week ago and up 15 cents from a year ago, …

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