Gasoline

The digits of gasoline pumps nationwide might bring woe to consumers, but the digits of the Texas Petro Index and the statistics that comprise it herald an era of exceptional growth for Texas oil and gas producers.

The digits of gasoline pumps nationwide might bring woe to consumers, but the digits of the Texas Petro Index and the statistics that comprise it herald an era of exceptional growth for Texas oil and gas producers.

Rising gasoline prices have re-ignited calls on Capitol Hill for a windfall tax on major energy producers’ profits. Sen. Arlen Specter (R-PA), chairman of the Senate Judiciary Committee, over the weekend said lawmakers should consider levying the tax.

Rising global interest in the crude oil, gasoline and natural gas markets, has driven the price of a New York Mercantile Exchange (Nymex) Nymex Division seat to a new record of $2.49 million, topping a $2 million sale on Oct. 12, 2004, Nymex reported on Wednesday.

Driven by its ownership of Kinder Morgan Energy Partners LP (KMP), Kinder Morgan Inc. (KMI) reported record second quarter earnings Wednesday, up 11% over a year ago. Meanwhile, KMP reported an earnings jump of 16% in the quarter.

Even in the midst of a brewing international oil crisis and the state’s skyrocketing gasoline prices at the pump, Californians are expanding their organized opposition to proposed offshore liquefied natural gas (LNG) terminals along the state’s southern Pacific Coast. Hoping to head off the ground swell, One proponent already has scheduled community information meetings later this month in Oxnard and Malibu, CA, the onshore entry point for a terminal 22 miles offshore.

Even in the midst of a brewing international oil crisis and the state’s skyrocketing gasoline prices at the pump, Californians are expanding their organized opposition to proposed offshore liquefied natural gas (LNG) terminals along the state’s southern Pacific Coast. Hoping to head off the ground swell, One proponent already has scheduled community information meetings later this month in Oxnard and Malibu, CA, the onshore entry point for a terminal 22 miles offshore.

This past winter’s natural gas and gasoline wholesale price spikes were not the result of manipulation but rather primarily a reaction to changes in the weather, according to the latest monthly tracking report released by California’s two major energy agencies Tuesday. The California Energy Commission and California Public Utilities Commission completed investigations this spring at the behest of the governor.

This past winter’s natural gas and gasoline wholesale price spikes were not the result of manipulation but rather primarily a reaction to changes in the weather, according to the latest monthly tracking report released by California’s two major energy agencies Tuesday. The California Energy Commission and California Public Utilities Commission completed investigations this spring at the behest of the governor.