Gashostage.com

Consumers wouldn’t suffer undue hardships in the event Iran disrupts Persian Gulf oil supplies because the Bush administration has a plan “if push were to come to shove,” Energy Secretary Samuel Bodman said Tuesday.

Bodman told reporters that in such a scenario, the government would tap its emergency oil reserve. He said he doesn’t anticipate an oil supply disruption and said he was speaking hypothetically.

As to any sharp reduction of Iran oil or a disruption in the supply line, Bodman said, “We certainly can handle it for a while. … There is the Strategic Petroleum Reserve and we have other approaches.”

Iran’s supreme leader, Ayatollah Ali Khamenei, said last weekend that if his country is punished because of its nuclear program, Tehran is prepared to disrupt the world’s oil supply, including production cuts.

Khamenei said the United States and its allies would be unable to secure oil shipments passing out of the Persian Gulf through the strategic Strait of Hormuz to the Indian Ocean.

Other Iranian officials repeatedly have ruled out using oil as a weapon, and Secretary of State Condoleezza Rice downplayed the Iranian oil threat because oil revenues are extremely important to the country.

Nevertheless Khamenei’s remarks propelled oil prices to $73 a barrel on Monday. Iran is the world’s fourth-largest oil exporter and the second-largest producer in the Organization of Petroleum Exporting Countries.

Oil prices receded Tuesday as crude supplies remain adequate. Light, sweet crude for July delivery on the New York Mercantile Exchange fell 11 cents to $72.49 a barrel.

Bodman, meeting with reporters after a speech at an electricity forum, suggested that there seems to be plenty of oil available.

He said Saudi Oil Minister Ali al-Naimi told him that Saudi Arabia recently cut back production by 100,000 barrel a day “because he isn’t finding customers.”

Bodman said he is convinced oil producers want “to keep the market well supplied. It’s in their interest as well as the interest of consumers.”

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I find this hard to believe.  Lets face it, when anything happens in the world of oil, the price of gas is immediately influenced.  American people will not be fooled with rhetoric that states that prices will not be affected when nearly 1/4 of the worlds production of oil is taken off the market.  This is a big deal.  As a consumer I am concerned by the eventual outcome.  I am not saying that the world shouldn’t stand up to Iran because of the problems that will result on the oil market, but I want to make sure everyone is clear on this.  Prices will rise dramatically if Iran decides to play games.

A woman was struck in the leg by a shotgun blast after she and two others were spotted early this morning siphoning gas from vehicles in the area of Freeport Boulevard in Sparks, police said.

The woman was identified as Sarina Ellis, 22, who was hit in the leg.

A man identified as Alden Noring was taken to Washoe County Jail and booked on suspicion of battery with a deadly weapon and shooting into a vehicle.

Police said Noring turned himself in to authorities after the incident, about 2:25 a.m.

Police said Ellis, along with Allen Dixon, 25, and Katrina Myrick-Davidson, 43, were siphoning gas when Noring awoke and went outside with a shotgun to confront them. Police said Noring fired at least twice.

Noring was involved in a similar shooting at 385 Freeport Blvd., in 1995, police said.

Story found here >>

I find it strange that people are that worried about gas.  Sure gas prices have increased dramatically in the last few years but that being said it is still not worth shooting someone over.   I would think calling the police or simply yelling and screaming at the thieves would have been sufficient.

It is easier to improve your fuel economy than most people think.  Most people do not realize how they drive can directly influence their fuel economy.  With over 65 percent of U.S. and Canadian households owning two or more cars, our recent gasoline price hikes has forced us to rethink our driving habits. According to U.S. Department of Transportation, the average Americans drives an average of 29 miles and can spend somewhere around 55 minutes a day in a car.

A surprising fact is that the national average miles per gallon for cars is around 24.4 miles per gallon, which is the lowest since 1986 when the nation’s overall average was about 25.9 miles per gallon.  With fuel efficient 4 cylinder cars it is surprising to hear that the numbers are actually going backwards and not forward.

As a group, people in North America have taken cheap gas for granted. Inexpensive fuel costs have allowed us the freedom to jump in our cars and go anywhere we want. The good news is that there are ways to increase gas mileage and get more from your gasoline buying dollars. With just a few minor driving adjustments, and a change in driving mentality we can still enjoy our driving freedom and save some money in the process.

First and foremost driving more sensibly is how to increase the gas mileage you are currently getting. If you are an aggressive driver who enjoys speeding, the thrill of high acceleration and high breaking, you are actually wastes gas. Most fuel is wasted by unnecessary high speed accelerations or high speed braking.  If you condition yourself to press your gas pedal less often the more money you will save.  When going down a hill, coast.  Do not brake excessively and then find yourself needing to hit the gas.  Whenever you are driving at highway speeds this type of driving can lower your gas mileage by 33 percent

Many of us cruise around town with no particular destination in mind thereby wasting fuel.  We waste gas by at least 5 percent each year by just cruising around. This 5 to 33 percent waste can result in a 7 cent to 49 cents a gallon wasted money. If you own a car with a 15 – 20 gallon tank, the amount of waste quickly adds up and after just a few fill ups you can see a dramatic difference.

Make sure you are aware of the speed limit when you are driving.  By adhering to the speed limit you will save a lot of money. Gas mileage lowers quickly when you are driving at speeds that are above 60 mph. As a rule of thumb, for every 5 mph that is driven over 60 mph, you are paying an extra 10 cents per gallon.
I have found that using cruise control on the highway helps you to maintain a constant speed which can help you save money on gas.  Cruise control is an excellent way to save fuel, but also be aware that using it while going up or down hills can affect your overall gas performance.  I like to make sure that I control my speeds on hills to really help save fuel.

Consolidating all of your trips and errands will cut down on the driving time which will result in your own gasoline discount.

Have you taken a look in your car’s trunk?  How much space is taken up by unneeded or worse yet garbage? Take the time to clean out that trunk because the heavier the load in your car is, the more gasoline you use.  We understand that some things are important, first aid kit, small roadside tool kit but make sure the stuff you carry is actually needed or useful.

Summer time rolls along and people start to use the air conditioner and this culprit actually uses more fuel then having the windows down.  Try to use your air conditioner sparingly as A/C puts more force on the engine and uses approximately 20% more fuel as a result.

Making these sensible adjustments to your driving habits will help you get the most from your car’s fuel economy.  Making better driving decisions will not only help you get the best miles per gallon of gas, but will also make you a much better and safer driver.

Most people complain about the price they pay at the pumps but they ignore one of the biggest gas savings solutions around.  Tuning up your car and making sure it is running properly is not only a smart idea for increasing the life of the vehicle, but tuning your car up can save you a lot of money at the gas pumps.  It stands to reason, that a car with a new fuel filter, air filter, spark plugs, correct tire pressure and the like, will drastically improve your fuel economy.  People forget that running a car when the tire pressure is low actually creates more drag and friction, or when the air filter is plugged it prevents your engine from getting the proper fuel to air mixture which can result in your fuel not burning properly.

Make sure that your cars engine is tuned and running properly.  Fixing a car’s engine that is out of tune or one that has failed an emissions test can result in a gas mileage improvement of about 4 percent.

Replacing a clogged air filter can improve gas mileage by as much as 10 percent. If you think about it in terms of money, that 10 percent is the equivalent of nearly 15 cents a gallon in actual gasoline savings. Since most cars have a 15 – 20 gallon tank, that amount of savings begins to add up. A car’s air filter prevents impurities from hurting the inside of the engine as well as allowing the car to get the optimum fuel to air mixture.  The right fuel to air mixture allows as much gasoline to be burnt and turned into energy as possible from your car’s engine.

Tire maintenance can also result in gas mileage improvements. Low tire pressure tends to make the car work harder on the roads by causing more friction and drag.  If you keep your tires inflated at their proper pressure you can improve gas mileage by about 3 percent. This can translate into a savings of up to 5 cents a gallon. You can check with the manufacturer of your vehicle for the recommended tire pressure.

Another very important thing you can do, is to keep fuel mileage records.  If a problem arises you will notice a drop in fuel economy which allows you to be proactive in finding a solution.  Getting a regular tune up may mean that you will spend less money in the long run. If you don’t get a tune up regularly, your gas money problems could just end up being the least of your problems.

Maintaining your vehicle is simple to do and can save you more money in the long run by preventing expensive repairs and of course potentially huge fuel savings.  When watching the prices of oil and gas increase make sure you have done all that you can to ensure that your car is running optimally.

We have shown you how you can make your car last longer and you can save up to 17% on your fuel bill on each and every tank. During the course of your cars life these savings can really add up.

 

Iran’s top leader, Ayatollah Ali Khamenei, warned Sunday that oil shipments from the Gulf region would be disrupted if the United States attacked his nation, but his threat was dismissed by Secretary of State Condoleezza Rice.

Khamenei also insisted in a speech broadcast live on state-run radio that Tehran will not give up its right to produce nuclear fuel. He added that Iran is not seeking a nuclear bomb as the West suspects.
 
“If you make any mistake (invade Iran), definitely shipment of energy from this region will be seriously jeopardized. You have to know this,” Khamenei said.

He added that if there was a disruption, the United States and its allies could not secure all the oil shipments that transit close to Iran’s coast. Much of the world’s oil supply passes through the strategic Strait of Hormuz, which links the Gulf to the Indian Ocean and separates Iran from the Arabian Peninsula.

“You will never be able to protect energy supply in this region. You will not be able to do it,” he said, addressing the West.

Rice told “Fox News Sunday” that “we shouldn’t place too much emphasis on a threat of this kind” because Iran also has an interest in protecting its major source of revenues.

“What we should place emphasis on is Iran’s opportunity to find a way out of this impasse,” Rice said.

Iran is the world’s fourth-largest oil exporter and second-biggest power within the Organization of Petroleum Exporting Countries. Iranian officials repeatedly have ruled out using oil as a weapon in the nuclear standoff with the West.

Western nations have offered an incentives package to persuade Iran to halt its uranium enrichment program. If Tehran refuses, the nations threaten U.N. sanctions.

Enrichment can produce either fuel for a nuclear reactor or material for a warhead.

The United States and other Western nations suspect Iran’s nuclear program is intended to produce weapons. Tehran insists it is only for generating electricity.

The supreme leader’s harsh rhetoric came a day after President Mahmoud Ahmadinejad said a breakthrough in negotiations over Tehran’s contentious nuclear program was possible and welcomed unconditional talks with all parties, including the United States.

In a major policy shift, the United States agreed this week to join France, Britain and Germany in talks with Iran, provided Tehran suspends all suspect nuclear activities. It would be the first major public negotiations between Washington and Tehran in more than 25 years.

Russian Foreign Minister Sergey Lavrov welcomed the U.S. offer of direct talks, Rossiya state television reported Sunday. Moscow has offered to host Iran’s uranium enrichment effort if it agrees to end domestic uranium enrichment, but Tehran has rejected that link.

Ahmadinejad said late Saturday his government would not rush to judge the incentives package.

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Is it just me or do these guys just seem crazy? Once the world gives one concession, Iran then finds another reason that they cannot abid by the UN’s requests.  Ayatollah Ali Khamenei is pumping himself up like a peacock and hopes to gain favor from the rest of the Arab world by standing up to the world and in particular the United States.  I am curious though, how well did this work for Saddam Hussein?  Eventually, if you bark enough, you will be put to the test and you might actually have to bite.  I am not suggesting that the US in a position to take on another Arab country right now, but the rest of the world might just be forced to make a play.  Allowing Ayatollah Ali Khamenei and Iran to hold oil for hostage, and then allowing them to develop nuclear weapons is a big mistake.  The leadership in Iran is crazy enough to actually use an atomic weapon on innocent people and giving in to their crazy demands is not the solution.  Iran will be a problem if they are given any leeway to develop nuclear technologies.  Mark my words.

I must admit that I do not follow The New York Times or Thomas L. Friedman but this story tweaks my interest.  To paraphrase, Friedman suggested that GM is “more dangerous to America’s future” than any other company, is “like a crack dealer” addicting helpless Americans to SUVs, and is in a cabal with Ford and DaimlerChrysler to buy votes in Congress.

To here such strong words come from a reputable journalist is very surprising to say the least.  GM, not being happy with being attacked shot back with the following…..

Imagine our shock when we read yesterday that GM is “more dangerous to America’s future” than any other company, is “like a crack dealer” addicting helpless Americans to SUVs, and is in a cabal with Ford and DaimlerChrysler to buy votes in Congress.

These weren’t the rantings of some obscure, clueless blogger. These were the thoughts of Thomas L. Friedman, (subscription required) author and influential columnist, on the op/ed page of The New York Times.

Mr. Friedman is not normally known for such shrill hyperbole. In fact, he’s generally well-respected and known for presenting rational, fact-supported opinions.

That wasn’t the case with yesterday’s column. That a journalist of his caliber and reputation could write such a defamatory, uninformed opinion was shocking to those of us dedicated to this company and proud of what GM builds and contributes to the nation’s economy.

The GM he describes is not the GM we know. Either Mr. Friedman is being a propagandist, or he’s woefully misinformed. We prefer to believe the latter. In fact, we’d like to invite Mr. Friedman out to Detroit to learn about the work GM is doing on alternative fuels, on hydrogen fuel cells and on technology to make all of our vehicles more fuel efficient.
GM understands the issue of our nation’s dependency on foreign oil as well as anyone, and we’re doing as much or more than anyone to address the issue, from making our gasoline engines more fuel-efficient to investing heavily in hybrid and fuel cell powertrains.

We also understand the impact of higher fuel prices on consumers. We offer Americans a full line of fuel-efficient options, including last year’s top-selling subcompact, the Chevy Aveo, and the well-regarded Chevy Cobalt compact. In fact, GM offers more vehicles that get 30 mpg or better EPA highway mileage than any other automaker. More than Toyota. More than Honda. More than Nissan.

We’ve suggested immediate ways that the United States can reduce its oil dependency, including getting more E85 ethanol fuel made from U.S. corn into our nation’s gas stations. Many of the GM cars and trucks that Mr. Friedman mentioned in his column can run on E85 fuel, which is one way we can significantly reduce the amount of oil we use – right now. We already have more than 1.9 million of these so-called “Flex Fuel” cars and trucks on the road.

There is more if you wish to read more here

Does GM as a company not listen to the needs and wants of their consumers?  Does General Motors or any other automobile manufacturer for that matter, have an obligation to produce vehicles that are fuel economical even if the public doesn’t seem to want them?  If their market surveys suggest that people do not want fuel efficient vehicles are they still expected to go against their shareholders and customers to produce what they think we should drive?

I take issue with Friedman suggesting that GM more than any other automobile manufacturer is not working towards becoming less reliant on Oil.  I think Friedman forgets that most manufacturers do not have a full line of fuel efficient cars and trucks.  Probably my biggest objection to this rant is why is it GM’s responsibility to provide customers this?  It is our responsibility as consumers to make sure we purchase what is proper for us.  I think the big auto manufacturers will start to listen if we buy VW’s and stop buying less fuel efficient cars.  I don’t think I want GM, Ford, Toyota, Nissan or any other auto company telling me what to buy.  I will make my choice.  In the very near future it is going to be important for car companies to offer more fuel efficient cars if they wish to make any sales… but I don’t want them to mandate what I drive.

Oil prices rose above $72 a barrel Tuesday ahead of an     OPEC meeting in Venezuela and the start of the Atlantic hurricane season later this week.

The Memorial Day holiday marked the beginning of the peak driving season in the U.S., a period when energy traders are extra skittish about any loss of oil production or refining capacity.

This nervousness is palpable even though domestic crude-oil inventories are ample and gasoline demand in recent weeks has been flat compared with a year ago.

“The market’s more sensitive to bullish news than bearish news right now,” said Aaron Kildow, a broker at Prudential Securities in New York.

To explain this, analysts point to the world’s limited spare production capacity, which has the effect of making any real or perceived hiccup in the global energy trade that much more threatening.

Some of the top international concerns keeping prices elevated include diplomatic tensions between the West and     Iran over Tehran’s nuclear goals, violence in Nigeria and rising energy demand in China.

After climbing as high as $72.75 per barrel, light sweet crude for July delivery settled 63 cents higher at $72.03 a barrel on the New York Mercantile Exchange.

July Brent crude at London’s ICE Futures exchange gained 78 cents to $71.37 a barrel.

“Thursday’s OPEC summit is going to be the big fundamental story of the week,” said Citigroup oil analyst Timothy Evans.

Venezuelan President Hugo Chavez wants the cartel to cut production — a familiar refrain from a country known as a price hawk — but other OPEC countries, including Qatar and the United Arab Emirates, are calling for no change to the group’s official 28 million barrel per day production quota.

Traders also are watching the June 1 official start of the U.S. Gulf of Mexico hurricane season, which is expected to be more active than normal, but not as harsh as last year’s. Hurricanes Katrina and Rita caused heavy damage to offshore platforms and pipelines, as well as onshore refineries, sending gasoline prices skyrocketing amid spot shortages and emergency imports from Europe.

Oil industry and government officials asserted at a press conference in Washington that they would be better prepared this summer to respond to any hurricane-related damage to energy infrastructure, mainly because of better coordination and communication now in place.

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Anyone surprised that the Memorial Day long weekend had a gas price increase in the middle of it? As usual during one of the biggest holiday seasons of the year oil prices start to increase.  I find it strange when the price dipped below $69 a barrel, there was no relief at the pumps for consumers.  With the hurricane season around the corner, and before any actual problems have arisen I might add, oil prices start rising and we see immediate effects at the pumps.  Why do the economic factors have no relevancy to the gas prices?  Good oil news means we have to wait four months to see an effectual decrease in gas prices we pay at the pumps where rumor and conjecture immediately find their way to influence higher gas prices?  Does this not mean price gouging is in full effect?  I certainly think it does, but the US government cannot find anything wrong with the way prices are determined. Yeah right!

Shareholders of Exxon Mobil Corp., whose last CEO got $147 million in pay and pension benefits last year, expressed their unhappiness by casting an unusually large number of votes against directors who approved the executive’s package.

Shareholders on Wednesday also ignored a board recommendation and approved a resolution to require that directors win a majority vote to be elected.

Longtime company officials couldn’t remember shareholders approving a measure over the board’s opposition. The directors could still scuttle the proposal.

Twelve other shareholder resolutions – all opposed by the board – were rejected, including three that called for reports or shareholder approval of executive and director compensation. None of the compensation measures got more than 12.9 percent support.

Exxon Mobil directors are usually elected with percentages well into the 90s. But on Wednesday, four members of the board’s compensation committee received only 79 percent to 82 percent, the company said.

Chairman and CEO Rex W. Tillerson said the mood reflected publicity surrounding compensation given to his predecessor and former boss, Lee R. Raymond, who was paid $49 million in salary, bonuses and restricted stock in 2005, then got a $98 million lump-sum pension benefit when he retired at year end.

“We all recognize that there has been a lot of controversy and comment around compensation,” Tillerson said. “Probably most likely what we were seeing is some people voting their disapproval of how that was handled.”

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I am a little surprised by the shareholder reaction.  Not that I don’t believe that the shareholders are upset but they are actually speaking out.  Exxon for example, makes a lot of controversial decisions based on having to keep shareholders happy.  It’s great to see that the shareholders are upset with the way Exxon is handling their business and they are willing to cast votes against the company’s executive board.  Problem probably comes from how much money the Shareholders didn’t get from Lee’s exit as chairman, and not nearly enough from the way day to day business is operated.  But all in all I would say it is a start!