Feb. 28 at 5:19 p.m.
Filed under:
Energy,
Updated
By Julie Wernau
The FutureGen Alliance announced Monday that it has selected Morgan County to sequester carbon dioxide emissions that would come from a coal-fired power plant 32 miles from the site.
The long-stalled $1.3 billion project, which includes CO2 storage, a visitor center, research and training facilities, is backed by $1 billion in federal funding from the American Recovery and Reinvestment Act and $300 million in private investment. Approximately 30 communities competed in the site selection process in the second try to get the project off the ground. Get the full story »
Feb. 28 at 4:23 p.m.
Filed under:
Energy
By Reuters
The average price U.S. drivers paid for gasoline soared 19.4 cents over the last week to $3.38 a gallon, the biggest jump in pump prices since Hurricane Katrina disrupted petroleum supplies in September 2005, the Energy Department said on Monday.
Feb. 25 at 3:29 p.m.
Filed under:
Energy
By Dow Jones Newswires
U.S. oil demand rose for the first time in five years in 2010, capped by a gain of 2.7 percent in December, government data released Friday show.
Demand of 19.148 million barrels a day was up 2 percent, or 377,000 barrels a day, from a year earlier, compared with average declines of about 950,000 barrels a day in the last two recession-hit years. Consumption in the world’s biggest oil user was some 8 percent, or 1.7 million barrels a day, less than the 20.8 million barrels a day peak hit in 2005. Get the full story »
Feb. 25 at 12:37 p.m.
Filed under:
Airlines,
Airplanes,
Energy,
Transportation,
Travel
By Dow Jones Newswires
The head of Southwest Airlines Co. said Friday that successive fare increases brought on as the industry battles with soaring jet-fuel costs isn’t cutting into demand.
Gary Kelly, chairman and chief executive of Dallas-based Southwest, said he didn’t see signs of “demand destruction” and has no plans to cut capacity at this point. Get the full story »
Feb. 24 at 3:53 p.m.
Filed under:
Economy,
Energy,
International,
Politics,
Updated
By Reuters
U.S. Treasury Secretary Timothy Geithner said Thursday that there is substantial capacity across major world economies in strategic oil reserves in the event of a supply disruption. Get the full story »
Feb. 24 at 3:14 p.m.
Filed under:
Energy,
Updated
By Associated Press
President Barack Obama said Thursday he’s confident that markets will be able to ride out the situation in Libya and the price of oil will stabilize.
Obama made the brief comments during a discussion with a new council of business and labor leaders he’s appointed to work on economic competitiveness. He said that energy costs are generally a source of uncertainty for businesses. But as for the spike in oil prices, the president said: “We think we’ll be able to ride out the situation in Libya and it will stabilize.”
Oil prices rose again Thursday as the rebellion in Libya appeared to have shut down even more crude production than previously estimated. At the pump, gas prices rose more than 2 cents to a new national average of about $3.23 per gallon. Get the full story »
Feb. 23 at 1:09 p.m.
Filed under:
Energy
By Reuters
U.S. retail gasoline demand rose last week as much of the country thawed out from weeks of winter storms, MasterCard Advisors’ SpendingPulse report showed Wednesday.
Average gasoline demand climbed 4.5 percent, to 8.847 million barrels-per-day in the week ended Feb. 18. Get the full story »
Feb. 23 at 12:45 p.m.
Filed under:
Energy
By CNN
U.S. oil prices spiked above $100 a barrel for the first time in more than two years Wednesday, as reports of Libyan production shutdowns swirled.
Italian oil giant Eni said Wednesday that it had partially shut down its 150,000-barrel-per-day production in the North African country. Get the full story »
Feb. 23 at 5:44 a.m.
Filed under:
Energy,
Green
By Gregory Karp
Hasbro's latest version of the Easy Bake Oven. (Hasbro)
Collateral damage in the war on energy waste is none other than the classic children’s toy Easy-Bake Oven, introduced in 1963 and an inductee in the National Toy Hall of Fame.
Millions of young chefs have used the toy to make tasty baked treats. It was made possible by the oven’s heating element, a common 100-watt incandescent light bulb. Get the full story »
Feb. 22 at 3:30 p.m.
Filed under:
Energy
By Julie Wernau
For the third year in a row, business customers have placed Commonwealth Edison second-to-last in customer satisfaction among its Midwest peers.
According to a J.D. Power and Associates study — based on interviews with representatives of more than 17,000 U.S. businesses that spend between $500 and $50,000 monthly on electricity — ComEd tied for second-to-last place with the state’s other major utility Ameren Illinois. Both received a score of 607 on a 1,000 point scale. Get the full story »
Feb. 21 at 1:27 p.m.
Filed under:
Energy,
International
By Reuters
World markets have plenty of oil, top exporter Saudi Arabia said Monday, as a wave of revolution that has toppled two presidents tightened its grip on OPEC member Libya and drove prices to a 2-1/2 year-high.
Energy ministers arrived in the Saudi capital Riyadh on the eve of talks designed to narrow the gap between producer and consumer nations. Get the full story »
Feb. 21 at 11:41 a.m.
Filed under:
Energy,
International,
Politics
From The New York Times | Global oil companies said Monday that they were making plans to evacuate employees in Libya after some operations there were disrupted by political unrest. The country holds the largest crude oil reserves in Africa.
Feb. 21 at 6:57 a.m.
Filed under:
Energy,
International
By CNN
Oil prices surged more than 4 percent early Monday as anti-government protests in the Middle East and Africa intensified, raising worries about possible supply disruptions.
Crude oil for April delivery gained $3.40, or 3.8 percent, to $93.11 a barrel after earlier jumping as high as $93.75. Oil prices have been trading in a range between $88 and $94 a barrel since the start of the year. Get the full story »
Feb. 21 at 6:18 a.m.
Filed under:
Autos,
Energy
By CNN
U.s. gasoline prices have jumped another nickel per gallon — pushing prices to 55 cents more than a year ago — according to a study published Sunday.
The average price for a gallon of regular is $3.18, the Lundberg Survey found. That’s up 5 cents from two weeks ago, publisher Trilby Lundberg said. In Chicago, the average price for a gallon of regular is $3.284, according to AAA’s Fuel Gauge report. Get the full story »
By Julie Wernau
Standing in front of a fast-charging station at the Chicago Auto Show, Gov. Pat Quinn called on automakers to bring electric vehicles to the state in light of charging infrastructure planned for the Chicago area.
“We’re going to have electric vehicles galore in the state of Illinois,” he said. “We want to be the nation’s capital for electric vehicles.”
In announcing that Chicago has signed a contract to have 280 charging stations installed in the area, Quinn said the infrastructure will go a long way toward making the state’s environmental goals a reality. Get the full story »
