Recently, Ronald D. White of the Los Angeles Times quoted UCAN in a story that said "Oil companies are making more money and less fuel." It sounds counterintuitive - if you make fewer "widgets" then you should make less money, right? Wrong. Get the Full Story.
We've said it before and we'll say it again: There isn't enough competition in California's wholesale fuel markets. Now, two reports of flaring incidents at Southern California refineries could send gas prices surging higher. More.
Gas prices broke another record for the year 2010 this morning, reaching an average price of $3.33 for regular unleaded and $3.57 for diesel. More.
In a surprise announcement today, the CEO of Exxon Mobil, the world's largest corporation, and and Lloyd Blankfein, head of the investment giant Goldman Sachs, announced a new strategic alliance that could send oil prices tumbling.
In a surprise announcement today, Rex Tillerson, the CEO of the world's largest corporation, Exxon Mobil, and Lloyd Blankfein, head of the investment giant Goldman Sachs, announced a new strategic alliance that could send oil prices tumbling. Some analysts say the new agreement could result in local gas prices as low as $1.39 a gallon. Full story.
This morning the San Diego Union-Tribune quoted UCAN in a lead story in its business section as saying “It’s very unlikely we’ll see gasoline below $3 for the next nine months." The reason is that the market is not being driven by supply and demand, rather inventories are being controlled and manipulated by oil companies that are using at least five different methods to manipulate the market price of gasoline. Full Story.
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