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World NewsPeak Oil News Wednesday September 27th 2006
Major advances in renewable fuels technology seen
(Agri News) Major advances in renewable fuels technology were outlined in a recent program at Eagle Bluff Environmental Learning center near Lanesboro. They included a new fuel called butanol, made from various biomass materials, and cellulosic ethanol, which is produced from a number of plant materials other than corn.
Ryanair hedges fourth quarter fuel needs
(Euro2day) Ryanair, Europe's leading low cost airline, disclosed on Tuesday that it had recently hedged its fuel requirements for the first three months of next year close to the peak of the market. It warned investors that it had hedged its fuel requirements for the period from January to March at $73 per barrel of Brent crude, compared with a price in recent days of around $60 a barrel.
To Peak Oil, Or Not To Peak Oil
(Gold Seek) We have been struck by the number of bearish reports and comments emanating from analysts, fund managers and assorted pundits with regard to oil, gas and other commodities. Just prior to the release of the FOMC statement on September 19, we heard a well-respected Chicago floor trader gush about how the oil bubble had burst, and how the Fed wouldn't need to hike interest rates any further.
Last weeks oil price drop was cyclical and hopeful--
(From the Wilderness) There is a lot of optimism that oil will soon fall below $70 after dropping from nearly $78 to $70 last week. But one trader on the floor of the New York Stock Exchange was quoted on MSNBC as saying that if oil goes below $70 he will buy futures βwith both fists.β
Tomgram: Michael Klare, Why Oil Prices Are Falling
(PEJ News) The price of crude oil, which this summer threatened to top $80 a barrel, briefly dipped under $60 for the first time in six months yesterday, a 23% decline from July highs. In the Midwest, where gas not long ago had soared to $3 at the pump, it now averages, according to the Energy Department, a nationwide low of $2.20 a gallon ($1.89 at one Jackson, Missouri gas station).
Cashing in on the fear factor
(Asia Times Online) he sharp drop in gasoline prices has been good news for US consumers, who now have more money in their pockets to spend on food and other necessities - and for President George W Bush, who has witnessed a sudden lift in his approval ratings.
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