Latest Effects of the 2000s energy crisis Stories

2011-03-16 15:42:00

MCLEAN, Va., March 16, 2011 /PRNewswire-USNewswire/ -- Rising gasoline prices will play a significant role in determining the price of used cars and trucks--including trade-in values--across all vehicle segments, said Jonathan Banks, executive automotive analyst for the NADA Used Car Guide. "The upward trend in gasoline prices will have an impact on consumer preferences for vehicles and will impact used-vehicle prices, but it will pale in comparison to the situation in 2008, when gasoline...

2009-05-21 14:50:55

Recently rising oil prices do not make sense from a supply and demand point of view, two U.S. airline executives said. Gerald Arpey, chief executive officer of American Airlines, told a news conference after the airline's annual shareholder meeting, he did not understand the price of oil jumping to nearly $150 a barrel last summer. And I can't imagine in a global recession the circumstances that would drive oil to those levels again, he said. Southwest Airline's CEO Gary Kelly reiterated a...

2008-09-05 00:00:23

By Hamidah Atan PUTRAJAYA: The government will reduce fuel prices by a further 15 sen by end of the year if world crude oil prices stay at US$109 (RM374) per barrel. "I will be happy to reduce it by 15 sen by the end of the year," Prime Minister Datuk Seri Abdullah Ahmad Badawi said, if world prices were held down. Abdullah said the next monthly review of fuel prices would take place either on Oct 1 or the middle of the month. "It is very likely that the review wil be on Oct 1. We...

2008-08-12 06:01:00

By Barbara Hagenbaugh WASHINGTON -- Gasoline prices will likely continue to fall in the next few weeks as lower oil costs and reduced demand push the price at the pump lower. But a steep drop is unlikely. The nationwide average price for a gallon of regular was $3.809 on Monday, the Energy Department said. That was down 7.1 cents from a week ago and 7.4% lower than the peak of $4.114 hit July 7. A separate survey from AAA and the Oil Price Information Service found the average U.S....

2008-08-11 09:01:04

The air cargo industry is looking at an increasingly bleak horizon, as slowing global growth and trade, coupled with rising fuel costs, are causing significant revisions to the expected market profitability for the year. Action must be taken now to combat these conditions and ensure long-term survival, and Datamonitor believes that there are three potential solutions that companies could follow. The economic climate has certainly taken a turn for the worse over the past 12 months. At the...

2008-07-30 12:01:10

By NATHAN COHEN Gasoline prices are expected to drop by at least 20 agorot on August 1 as a result of the plunge in global oil prices, which fell $20 per barrel during the month of July. "We can expect a reduction of 20 agorot maybe more or maybe less - depending on the shekel-dollar exchange rate - as a result of the recent reduction in world oil prices," Amit Mor, CEO of Eco Energy, a Herziliyah-based energy consulting firm told The Jerusalem Post. Mor added that the price could...

2008-07-28 09:01:12

In response to the increasing fuel costs, Air New Zealand is likely to raise prices and cut capacity on some routes. The airline has already increased fuel prices for four times in 2008. It has experienced nearly NZ$2 billion fuel costs for the year ended June 30, 2008. Rob Fyfe, CEO of Air New Zealand, said: "The national carrier would have to raise fares 20% to cover the full cost of fuel increases, a move that was unlikely to happen as it would dry up demand."

2008-07-23 12:00:57

To: POLITICAL EDITORS Contact: Elizabeth Merida, +1-202-626-4205, or David Castelveter, +1-202-626-4033, both of ATA WASHINGTON, July 23 /PRNewswire-USNewswire/ -- The Air Transport Association of America (ATA), the industry trade organization for the U.S. airlines, today testified before the House Select Committee on Energy Independence and Global Warming on the critical importance of tapping the Strategic Petroleum Reserve (SPR) to help bring immediate relief to consumers and...

2008-07-01 06:00:00

By Clay Robison, Houston Chronicle Jul. 1--AUSTIN -- Even with record-high oil prices, the state treasury isn't awash in oil money, as it was in the days when black gold was the undisputed king of the Texas economy. But those high prices have sparked a 58 percent jump in oil production tax receipts so far this fiscal year, helping fuel what state leaders hope will be a large surplus for the 2009 legislative session. Natural gas production taxes are up by almost 30 percent, and higher...

2008-06-30 03:02:46

By Williams, Walt Gas prices are high everywhere, but the pain West Virginians feel is greater than what many people in other states are feeling. Higher-than-average fuel prices combined with some of the lowest incomes in the nation mean West Virginians are spending a larger portion of their incomes on fuel, according to a recent analysis by the Oil Price Information Service. While the conclusion may sound obvious, the analysis provides some hard figures to show just what state residents...

Word of the Day
  • A cloth or covering, more or less ornamented, laid over the saddle or furniture of a horse, especially of a sumpter-horse or horse of state.
  • Clothing, especially sumptuous clothing; equipment; outfit.
  • To cover with a caparison, as a horse.
  • To dress sumptuously; adorn with rich dress.
This word ultimately comes from the Medieval Latin 'cappa,' cloak.