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Oil climbs to near $76 after pipeline shutdown

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Oil prices climbed to near $76 a barrel today after a pipeline in the US shut down and as better economic indicators from Japan to the U.S. boosted confidence that demand for fuel will improve. By early afternoon in Europe, benchmark crude for October delivery was up $1.40 to $75.65 a barrel in electronic trading… Continue Reading Oil climbs to near $76 after pipeline shutdown

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All summer, I’ve wondered about the wrong guy. The BP-owned Macondo well blew out in April, and we’ve all watched and sorrowed over the environmental destruction of the waters of the Gulf of Mexico, as crude oil relentlessly spewed out of the broken pipe on the sea floor. I’ve listened to the stories of livelihoods… Continue Reading Predicting disaster in the rough, ready oil-field ethos

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Oil prices fell below $75 a barrel Wednesday after a report showed U.S. crude supplies swelled last week, renewing concerns about demand for fuel in the world’s largest economy. By early afternoon in Europe, benchmark crude for September delivery was down 97 cents at $74.80 a barrel in electronic trading on the New York Mercantile… Continue Reading Oil falls on report showing rise in US supplies

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Colo. having busy drilling permit year

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Colorado is poised to have its second busiest year for issuing oil and gas drilling permits despite stricter regulations that took effect last year, a state regulator said. Colorado Oil and Gas Conservation Commission Director David Neslin said the state has issued more than 3,100 permits through the first six months of the year and… Continue Reading Colo. having busy drilling permit year

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Several environmental groups in Colorado and Wyoming are praising the Interior Department’s onshore oil and gas leasing reforms as long overdue. The announcement Monday comes as the federal agency deals with questions about regulation of offshore drilling in the wake of the Gulf Coast oil spill. Environmentalists in the Rockies criticized the Bureau of Land… Continue Reading Environmentalists welcome oil, gas leasing reforms

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Gas prices poised to rise

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After a weeklong break, gasoline prices are ready to climb higher again.

Surging wholesale gasoline prices should push pump prices to an 18-month high and put drivers on the cusp of having to pay $3 per gallon for gasoline. Continue Reading Gas prices poised to rise

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Business groups and environmental organizations are locking horns again over a bill that would open the Outer Continental Shelf to deep-sea oil drilling. Businesses say that the American Conservation and Clean Energy Independence Act will reduce the nation’s dependence on foreign oil; conservationists and environmentalists claim that the nation would be better served by focusing… Continue Reading Big oil, enviros at it again

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Oil tops $60 a barrel

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Oil prices rose above $60 a barrel today, halting last week’s falling trend, as investors turned to commodities for protection against a weaker dollar and after attacks on oil facilities in Nigeria. By mid-afternoon in Europe, benchmark crude for August delivery was up 19 cents to $60.08 a barrel in electronic trading on the New… Continue Reading Oil tops $60 a barrel

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Colorado now ranks as the least attractive state in the nation for oil and natural gas investment. The Fraser Institute says the state’s ranking has dropped from first to 81st in only two years, and now ranks among the bottom half of the 143 global jurisdictions included in the 2009 Global Petroleum Survey.  Among the 27… Continue Reading Colorado falls to last place among states for energy investment

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Low demand forces drop in oil prices

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Oil prices fell below $52 a barrel Friday, following a huge rally the previous day, as U.S. unemployment data showed the world’s largest economy is continuing to lose jobs. Benchmark crude for May delivery was down 86 cents to $51.78 a barrel by mid-afternoon in Europe in electronic trading on the New York Mercantile Exchange.… Continue Reading Low demand forces drop in oil prices

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