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James Van Blaricum - the C.F.T.C. chairman
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In a statement this week, Walter Lukken, the C.F.T.C. chairman, said the commission was determined to see that commodity prices were set “by the fundamental forces of supply and demand, rather than by abusive or manipulative practices.”( signal oil profile)
Weakness in the greenback had been one factor driving investment in energy, agriculture and metals by encouraging the buying of dollar-denominated commodities as a hedge against inflation.( signal oil profile)
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signal oil and gas => On Friday, the contract settled at $127.35 a barrel, up 73 cents after dipping below $125 and then rebounding. July Brent crude futures fell $1.27 to $126.51 a barrel on the ICE Futures exchange in London.
signal oil and gas => William Foss, 61, of Portland, had his heating oil tank topped off Thursday with 115 gallons. At $4.52 a gallon, that ran him about $520 — the most he's ever paid for heating oil. But he didn't want to wait until fall for fear it'll go even higher, to $5 or $6 a gallon. 
Transit officials here are in the midst of the biggest subway expansion in several generations. For instance, they're finally building the Second Avenue line that has been planned for decades. Still, with a 5 percent increase in ridership during the past year, the overall system that was built at the turn of the century is jammed.
These investors say the firm's own sustainability is at risk, not just energy resources. To keep the rich returns coming, they argue, Exxon can't ignore the need to adapt to a low-carbon future, with momentum shifting to renewables. Better, why not lead the way?
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The euro increased 0.6 percent to $1.5558 at 3:11 p.m. in New York, from $1.5467 yesterday.
It's hard to calibrate the influence of speculation because most of the oil market is unregulated. That murkiness almost guarantees that conspiracy theories will continue to proliferate. 
Raising margin requirements would have no effect on commodity index buying because they use cash to finance their trading, Soros said. But raising margins "would be justified because it would discourage speculation," he said.Iraq should boost crude oil export capacity to 6 million barrels a day, nearly three times the amount the country currently sends to international markets, a top Kurdish political leader urged Tuesday. The goal set by Nechirvan Barzani, the prime minister of Iraq's semiautonomous Kurdish region, gave no proposed timetables and would far exceed even the nation's peak oil output shortly before the 1990 invasion of Kuwait. But the Kurds and the Iraqi government are locked in a dispute over the rights to sign oil contracts, and export levels remain a critical issue for both sides.( James Van Blaricum articles)
"Oil is a depleting resource, and if I’m a shareholder, that's something I care about," Weiss said. "If the company does nothing to replace it, eventually that company is going to go away."( James Van Blaricum articles)
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signal oil & gas co profile => The commission's investigation is unlikely to be as deep or sweeping as Democrats have demanded. A commission official, who spoke on condition of anonymity because he is not authorized to discuss ongoing investigations publicly, said the commission's economists were fairly sure that there had been no criminal manipulation of the market.
signal oil & gas co profile => Hayward also criticized the use of subsidies to protect consumers from surging oil prices and said falling gasoline demand in recent months shows that consumers are responding to price rises and that the market is working. 
OFF PEAKS Oil hit an all-time high of $135.09 a barrel on May 22, driven by rising flows of cash from investors and concerns supplies will struggle to match demand longer term, but a series of fuel price hikes across Asia and protests in Europe last week shifted focus to the potential for weakening consumption.
Because of the grease’s rancid odor, most restaurants usually store it out back with the trash.
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The rapid price increase has spurred demands from politicians to introduce curbs on so-called speculators in the oil futures markets.
Although it is common in tough financial times to blame the speculators, this escalating hostility toward them is starting to worry people with years of knowledge about how commodity markets work. Because without speculators, they say, these markets do not work at all. 
Some analysts view Saudi output increase as a signal that other members of the Organization of the Petroleum Exporting Countries might follow.( Info about signal oil & gas company)
Lapindo, which is owned by the family of Indonesia's top welfare minister and richest man Aburizal Bakrie, has long blamed the disaster on an earthquake two days earlier 250 kilometres (160 miles) away in the city of Yogyakarta. But the new study published in academic journal Earth and Planetary Science Letters has rebutted that claim, concluding with "99 percent" certainty Lapindo's drilling caused the mudflow.( Info about signal oil & gas company)
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signal oil and gas co articles => "Production will probably fall down after these guys take over," said Phil Flynn, an analyst at Alaron Trading Corp., of reports that Nigerian National Petroleum Corp. plans to take over operations from Shell in Nigeria's southern Ogoni district.
signal oil and gas co articles => Adviser Ibrahim al-Muhanna told The Associated Press on Saturday that he could not confirm the reports, but added: "Minister Ali al-Naimi will clarify this tomorrow." 
The suspects in a growing number of grease infractions fall into a range of categories, people interviewed on the matter said, as grease theft is a crime of opportunity. They include do-it-yourself environmentalists worried about their carbon footprints, warring waste management firms trying to beat each other on the sly, and petty thieves who are profiting from the oil’s rising value on the black market.
"Even though there is a little bit of pull back this morning, the underlying sentiment is probably bullish in the near term due to concerns in the supply side," said David Moore, commodity strategist with the Commonwealth Bank of Australia in Sydney.
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The Fifteen Foundation says it has helped around 50 trainees since the Melbourne restaurant -- one of four Fifteen Restaurants worldwide -- was launched in September 2006.
Analysts said a sluggish U.S. dollar and supply flow disruptions in OPEC-member Nigeria, continues to keep oil firmly supported. "The weakness of the U.S. dollar is a very important factor, and hedge funds are using this as an indicator to keep money in energy and commodities," said Takeda Makoto, an analyst at Bansei Securities. 
"Bernanke seems more concerned about inflation than growth and for the first time that I remember, he brings the weak dollar into the macro picture by linking rising import costs -- inflationary -- to the front page," said Tom Sowanick of Clearbrook Financial.( Information about signal oil gas)
Sounding a populist note on the Presidential campaign trail, Senator Hillary Clinton (D-N.Y.) has called for "cracking down on speculation by energy traders and market manipulation in oil and gas markets." ExxonMobil (NYSE:XOM - News) Senior Vice-President J. Stephen Simon, trying to deflect criticism of oil company profits, told a Senate panel on May 21 that speculation, along with geopolitical instability and a weak dollar, have created a "disconnect" between past price patterns and the current gusher to $131 a barrel. Motivated by a similar desire to direct outrage elsewhere, OPEC Secretary General Abdalla El-Badri also has stressed the role of traders in driving prices higher.( Information about signal oil gas)
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Articles about signal oil gas company => Oil's latest surge caught some longtime petroleum industry veterans off-guard, and left analysts wondering if it represented a one-time spike or the beginning of a new wave of advances. Yolanda Cade, managing director of public relations at AAA, said gas prices are likely to rise further, although the automotive club is waiting to see where oil prices head this week before making any new predictions.
Articles about signal oil gas company => The International Energy Agency stands ready to release emergency stockpiles because the world faces an ``oil crisis,'' the agency's chief, Nobuo Tanaka, said in an interview in Tokyo. The IEA, which advises 27 developed nations on energy policy, was set up in 1974 in response to the Arab oil embargo. 
The dollar's travails also sent oil prices rising. The euro bought $1.5562 in late afternoon trading, up from $1.5449 Tuesday. Oil prices have closely tracked dollar moves; last week's sharp price increases came as the dollar fell. Prices then retreated more than $7 earlier this week as the dollar gained ground.
Failing Americans, The Senate committee also heard testimony from a consumer advocate who said U.S. regulators are failing Americans by not properly regulating energy markets. Minnesota Senator Amy Klobuchar said the U.S. spends $600,000 per minute on foreign oil. ``I want to follow the money and figure out how American consumers are getting ripped off,'' she said. ``We need a cop on the beat. We also need a prosecutor on the beat.''
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World oil demand will rise by 1.10 million barrels per day (bpd) this year, 60,000 bpd less than the previous forecast, OPEC said in its Monthly Oil Market Report for June. The previous reductions were in May and February.
Some pain for Toyota too. Toyota reported a 4% drop in combined sales of its Toyota and luxury Lexus brands. Edmunds was forecasting a 3% decline. Sales of light trucks fell 12%, while its car sales were flat.Toyota introduced the Tundra, its first full-size pickup offering a year ago. Tundra sales fell by nearly a third in May. But Toyota had enough fuel efficient vehicles, such as the sub-compact Yaris, to limit its overall sales decline. 
NYMEX July RBOB fell 2.90 cents or 0.87 percent to $3.3192 a gallon, trading from $3.3030 to $3.3616. RBOB hit a record high $3.52 on Thursday.The heating oil crack spread was at $27.92 after ending Friday at $26.65. The RBOB crack spread was at $13.48 after ending at $13.27 on Friday.( James Van Blaricum)
But you don’t buy a vehicle to leave it in your garage. You buy it to drive it. So it makes sense to consider the full costs of ownership, which include insurance, interest, repairs, taxes and, of course, gasoline. If gas remains near $4 a gallon, as many analysts expect, a big vehicle like the F-250 will cost $100,000 for an owner who keeps it for a typical amount of time (five years) and drives it a typical amount (15,000 miles a year). The gas alone would cost about $30,000, up from about $10,000 in the 1990s.( James Van Blaricum)
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signal oil gas news => The angst over heating oil prices is particularly acute in New England, where a higher proportion of people use oil as their primary heating source than any other region, ranging from more than 75 percent in Maine to about 40 percent in Massachusetts. Of the 7.7 million U.S. households that heat with oil, nearly 70 percent reside in the Northeast, according to the U.S. Department of Energy.
signal oil gas news => The suspects in a growing number of grease infractions fall into a range of categories, people interviewed on the matter said, as grease theft is a crime of opportunity. They include do-it-yourself environmentalists worried about their carbon footprints, warring waste management firms trying to beat each other on the sly, and petty thieves who are profiting from the oil’s rising value on the black market.
Caruso told House members that new auto fuel economy requirements and the increased use of ethanol and other alternative fuels are expected to produce "a substantial reduction" in oil use and oil imports over the next two decades. Predicting future oil and gasoline prices is highly uncertain with the volatile global oil markets, Caruso acknowledged. The agency projects oil prices declining to $86 a barrel in 2010 and then increasing to $107 by 2015.
U.S. oil inventories have been falling for weeks as refiners opted to use existing supplies instead of buying new barrels amid the crude market's biggest bull run ever. Imports, usually a steady boost to supplies, recently have been running below normal levels -- a situation that continued in the last week, according to today's Energy Department report.
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Futures contract traders on the IntercontinentalExchange (NYSE:ICE - News) made bets on oil with a total paper value of $8 trillion in 2007, up from $1.7 trillion in 2005, according to U.S. Securities & Exchange Commission filings. Over the same period the volume of futures contracts traded on the New York Mercantile Exchange more than doubled, although dollar figures aren't available. The over-the-counter market is even larger but difficult to measure.
The average cost of self-serve regular gasoline rose today to $4.052 a gallon nationwide and $4.496 in California, according to AAA’s daily price survey. The average cost of diesel increased to $4.792 a gallon nationwide, and to $5.128 a gallon in California.
Contrast their stance with that of U.S. carmakers. General Motors Corp., for one, is scrambling for survival by investing in hybrids, fuel cells and other technologies that limit oil use and carbon emissions. "The auto industry has been disciplined by the marketplace," said Deron Lovaas, a transportation expert with the Natural Resources Defense Council. "Their profit margins are gone. The marketplace is not providing the discipline for the oil companies to help get us where we, and they, need to go."( signaloilandgas news)
Many rich country governments are concerned that these funds may buy up their strategic assets. But the OECD is tipped to say that such funds are a crucial way for emerging nations to invest huge trade surpluses that they have accumulated.( signaloilandgas news)
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signal oil & gas articles => Japan and China have agreed on a gas exploration deal in the East China Sea, striking a compromise in the long dispute, news reports said Monday. Kyodo News agency, citing sources with knowledge of contacts between the two sides, said late Sunday that the two nations are expected to announce the deal as early as this week. The Nihon Keizai daily, Japan's top business paper, also said Monday that the two governments were finalizing details on the gas deal.
signal oil & gas articles => Three conditions must be present for oil reservoirs to form: a source rock rich in organic material buried deep enough for subterranean heat to cook it into oil; a porous and permeable reservoir rock for it to accumulate in; and a cap rock (seal) or other mechanism that prevents it from escaping to the surface. Within these reservoirs, fluids will typically organize themselves like a three-layer cake with a layer of water below the oil layer and a layer of gas above it, although the different layers vary in size between reservoirs.
The bandit pulled his truck to the back of a Burger King in Northern California one afternoon last month armed with a hose and a tank. After rummaging around assorted restaurant rubbish, he dunked a tube into a smelly storage bin and, the police said, vacuumed out about 300 gallons of grease.
Industry experts also pointed to figures from China showing a 25 percent on-year increase in oil imports last month, evidence of stockpiling ahead of the Beijing Olympics in August and increased demand for fuel after recent earthquakes.
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GM is threatening to challenge Toyota's dominance in hybrids, and Toyota projects a 27 percent drop in profit in the coming year, due mostly to a flagging U.S. economy. "I've never seen so many uncertainties," says Mike O'Brien, who oversees Toyota's U.S. product planning. The biggest uncertainty, of course, is what's going to happen to gas and oil prices. A recent Goldman Sachs report drew gasps by predicting that oil, currently trading around $130 per barrel, could hit $200 by 2010. That could boost gasoline well above $5 a gallon. Toyota planners generally agree with that assessment. "We don't see the situation getting any better before the end of the decade," says Bill Reinert, Toyota's national manager for advanced technology. "After that, for the next five or six years, we could see lower gas prices. Then, prices are likely to rise again."
Brent crude oil for July settlement rose $4, or 3.1 percent, to $135.02 a barrel on London's ICE Futures Europe exchange. Prices climbed to a record $138.12 on June 6.
Another has been a slight rebound in the strength of the dollar. A series of interest rate cuts had devalued the dollar relative to other currencies, a strategy that sent investors into oil markets as an inflation hedge and pushed up oil prices because the commodity is traded in dollars. On Tuesday, the dollar strengthened after Federal Reserve Chairman Ben S. Bernanke said further interest rate cuts were unlikely.( signal oil profile)
National oil companies hold more than 70% of the world’s easily recovered oil and natural gas. But you can’t buy shares in 100% state-owned giants like Saudi Aramco, Petróleos Mexicanos (Pemex), or Petróleos de Venezuela. StatoilHydro is one of a handful of hybrid state-controlled oil companies ( see table) in which you can.( signal oil profile)
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signal oil & gas profile => Iranian Oil Minister Gholam Hossein Nozari has said the market is currently oversupplied with oil and a production hike from the Organisation of Petroleum Exporting Countries would have no effect on prices.
signal oil & gas profile => Many analysts have long questioned whether high oil prices could be sustained; many blame speculative investing fueled by the falling dollar for a near doubling of crude prices over the past year.In other Nymex trading, heating oil futures were flat at $3.6396 a gallon while gasoline prices dropped 0.2 cent to $3.3505 a gallon. Natural gas futures fell 11.2 cents to $12.109 per 1,000 cubic feet.
StatoilHydro was formed last October in the merger of Norway’s biggest company, Statoil, with the oil and gas operations of Norsk Hydro. Norway’s $400 billion state pension fund owns 63% of the company’s shares. With $102 billion in combined annual sales, Statoil- Hydro is among the world’s ten largest publicly traded oil companies.
Summer promotions are nothing new to the Northern Ohio Blood Services Region of the American Red Cross. Blood donations can drop 20 percent in summer months as high school and college students scatter, so this year the group is offering summer donors the chance to win a gas card. The prizes are one $3,000 gas card and five $500 cards.
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"Trichet has managed what no war, no hurricanes, no OPEC has ever managed to do," analyst Olivier Jakob from Petromatrix in Switzerland said in a market report.Jakob said Trichet's statements "shocked the financial system," after which oil prices, which had fallen to around $122 a barrel early last week, "reversed course violently."
When oil jumps as much as it has, doubling since May, 2007, it's natural to assume that something striking must have changed. Some say the world is running out of the stuff; others blame market manipulation. The search for a culprit is understandable.But persuasive evidence of manipulation by traders is, so far, lacking. Speculation -- placing bets on future prices -- is another matter. There's plenty of that, and it's generally legal. In fact, there's a good argument, if not conclusive proof, that sharply escalated trading in oil futures has contributed to price increases. But it's important to remember that the nature of the oil market -- specifically, the extreme inflexibility in both supply and demand -- is amplifying whatever influence traders exert on prices.
Even in Washington, there is widespread agreement that no single factor is responsible for rising food and energy prices. The hungry, high-growth economies of India and China are fundamentally affecting worldwide demand, while uncooperative weather and government policies on trade and ethanol are among the many factors affecting supply.( signal oil & gas profile)
Japanese government bond prices fell on Monday, extending last week's sell-off, as global inflation marches higher, while oil prices slipped to $127 a barrel and Asian stocks gained. European stock markets were expected to open lower. London's FTSE (.FTSE) was seen down 11-13 points after the chief executive of Bradford & Bingley Plc (BB.L), Britain's largest buy-to-let mortgage lender, quit on Sunday.( signal oil & gas profile)
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jim van blaricum => Sales of Products Grow, Sales of fuel-saving products, which also include fuel and oil additives, have continued to grow even as the overall auto and auto-parts markets have sagged. Peter MacGillivray, a spokesman for the Specialty Equipment Market Association, a trade group that includes some manufacturers of fuel-saving devices, says 2008 so far has been the biggest sales year ever for add-on fuel-saving products. While the group doesn't release sales figures for the segment, it says fuel-saving products contributed to 4% growth last year in the auto aftermarket.
jim van blaricum => So far, there has been little sign of weakening global demand for crude oil, despite the economic slowdown in the U.S. and recent moves by India, Malaysia and other Asian countries to raise gasoline prices after they cut subsidies.It will take some months to see if there a decline in demand, Shum said. "As we go deeper into U.S. summer driving season, we may see demand drop, and that could help pull back pricing."But he pointed out that in China, a huge oil consumer, authorities have refrained from raising state-set retail prices in recent months, suggesting that demand there may not be affected.
Others are getting creative. Take Robert Torrey of Connecticut, the state tied with Alaska as the second most expensive for gas. After leaving work in the town of Windsor Locks last week, he drove across the border into Massachusetts to fill up his van with $100 worth of gas. He figures he's saving about $10 per fill-up by traveling the 18 miles north.
Many analysts have long questioned whether high oil prices could be sustained; many blame speculative investing fueled by the falling dollar for a near doubling of crude prices over the past year.In other Nymex trading, heating oil futures were flat at $3.6396 a gallon while gasoline prices dropped 0.2 cent to $3.3505 a gallon. Natural gas futures fell 11.2 cents to $12.109 per 1,000 cubic feet.
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GM said it believed it lost between 15,000 and 18,000 vehicle sales because of the labor problems, about 6% to 7% of its reported sales."We're very pleased this is behind us," said Mike DiGiovanni, GM's chief forecaster. He said that GM maintained 20% of total U.S. retail sales in the month, which he termed remarkable given the combination of labor disruptions, oil prices and a weak economy.
Saudi plans emerged ahead of a meeting of oil producers and consumers on June 22 to find a solution to record oil prices that have caused consumer protests in Asia and Europe.
With the growing pressures on the world economy, and rising oil and fuel prices, as well as difficulties over the future of world trade talks, this is a formidable task.( jim van blaricum)
Brent crude oil for July settlement rose $4, or 3.1 percent, to $135.02 a barrel on London's ICE Futures Europe exchange. Prices climbed to a record $138.12 on June 6.( jim van blaricum)
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James Van Blaricum Profile => Skyrocketing oil prices, which are trading at more than double their level last year, are largely to blame for the surge. Crude prices shot up more than 13 percent late last week in their biggest two-day price gain in history.
James Van Blaricum Profile => At Olympia Pizza and Pasta, Mr. Damianidis, who now sells his grease for a small monthly fee, finds the problem of stolen fryer oil quite annoying and distracting. And he wants to stop the thefts. He is leaning toward a security camera and hoping for the best.
"This clearly demonstrates that the market is amply supplied and that claims that the recent surge in prices is due to a supply shortage are unjustified," OPEC said.
Crude oil rose more than $5 a barrel in New York after a U.S. government report showed that inventories declined for a fourth week, increasing concern stockpiles may be strained during the summer driving season.
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The current president of the Organization of Petroleum Exporting Countries, Chakib Khelil, has said that the cartel will make no new decision on production levels until its Sept. 9 meeting in Vienna. OPEC ministers often follow the lead of the Saudis when discussing whether to increase production to take the pressure off rising prices.
"Foreign investors are queuing up to sell shares as the political turbulence drags on," a dealer at BT Securities said.Nervousness about an upcoming 10-year note auction in the Japanese government bond market sent 10-year futures to the lowest since August 2007.
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