David Pursell News
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For AT&T Inc., the decision to introduce natural gas vehicles to the company’s fleet in 2008 proved well-timed, as the price gap between gas and diesel soared to an all-time high that summer.
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BP Plc is likely to intercept its Gulf of Mexico gusher this month, ahead of schedule, kicking off a “kill” process that may take as little as two days or drag out because of complications caused by the well’s depth.
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BP Plc will put equipment in place this weekend that will allow the company to double the amount of crude being caught from its leaking Gulf of Mexico well.
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Gasoline retreated after the Energy Department reported weaker fuel demand for last week.
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For 36 years, Norma Fiorentino drew water from a well near her home in Dimock, Pennsylvania. “It was the best water in town,” she says.
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BP Plc will put equipment in place this weekend that will allow the company to double the amount of crude being caught from its leaking Gulf of Mexico well.
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Gasoline fell for a 10th consecutive day, extending a losing streak to the longest since the start of New York futures trading in 1986, as fuel supplies surged to the highest level in almost two months.
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BP Plc may lose control of its U.S. oil and natural gas wells and be barred from doing business with the federal government as punishment for the worst oil spill in U.S. history, industry and regulatory analysts said.
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Gasoline tumbled as stockpiles rose and demand slid to an eight-month low after Hurricane Sandy, and as concern mounted that President Barack Obama and the U.S. Congress won’t reach a budget deal.
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The U.S. shale boom has driven the cost of Gulf Coast light, sweet oil to its lowest level versus Brent crude in almost a quarter century as the nation’s dependence on foreign supplies wanes.
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