Recently Added, Peak Oil

In Atlanta, half of the gasoline stations were closed, according to AAA, which said the supply disruptions had taken place along two major petroleum product pipelines that have operated well below capacity since the hurricanes knocked offshore oil production and several refineries out of service along the Gulf of Mexico.Motorists in Charlotte reported lines with as many

Sept. 22 (Bloomberg) -- Crude oil climbed more than $25 a barrel, the biggest gain ever, as traders scrambled to unwind positions on the October contract's last day of trading. The more-active November contract rose $6.62.

Global oil demand is expected to grow at a slower pace than previously expected this year as a result of record prices and shrinking subsidies in some emerging countries, a leading energy forecaster said on Tuesday.

July delivery rose $9.54, or 7.5 percent, to $137.33 a barrel

Goldman Sachs recently forecasted that oil would be at $141 a barrel by the end of the year, and rising to $200 a barrel in the not too distant future. I have seen other forecasts calling for oil to slip significantly under $100 a barrel before starting yet another bull market.

The oil economist Dr Mamdouh Salameh, who advises both the World Bank and the UN Industrial Development Organisation (Unido), told The Independent on Sunday that the price of oil would now be no more than $40 a barrel, less than a third of the record $135 a barrel reached last week, if it had not been for the Iraq war.

With gas prices hovering at $4 a gallon, motorists like Saba are putting less fuel in their tanks — then coming up empty on the highway.

As rising gas prices leave drivers with ever-heftier tabs at the pump, Americans have started looking for ways to reduce the drain on their budget. For some, transitioning away from a one-person, one-car lifestyle has proved rewarding.

Crude for July delivery gained 1.4 percent to a record $135.09 a barrel

Crude oil rose to a record above $132 a barrel as U.S. stockpiles unexpectedly dropped and banks raised price forecasts because of supply constraints and demand growth.