Posted by Charles Langley, Manager, UCAN Gas Project - At an average of $3.01 a gallon for regular in San Diego County, gas prices are now at a 13-week low as we head into Memorial Day weekend. Gas prices have dropped 15 cents from their 2010 high of $3.16 on May 6. The biggest decreases have been in the last week, with prices dropping at a rate of a penny a day.
A oil tanker that has been burning in the Gulf of Mexico for nearly three days now has finally sunk, while at the same time spewing oil ffrom the experimental drilling rig operated by British Petroleum (BP). BP is the parent company of Arco AM/PM. The Coast guard has managed to contain much of the spill, but it is going to be a very ugly mess. Even uglier is that fact that eleven people of the 135+ member crew are still lost or missing.
By Charles Langley, Manager, UCAN Gas project -- In a public relations campaign so cynical that it would make Machiavelli blush, Toyota is sending its customers a scary message: Criticize us and we will investigate you and use what we find to assassinate your reputation.
So let me state something that is generally considered self-evident: Toyota's customers are dying because some of their vehicles are defective and unsafe.
By Charles Langley, Manager, UCAN Gas Project - Mexico, which currently exports oil, is expected to be importing oil by 2012. Oil is the lifeblood of Mexico's economy, representing 30 to 40% of the Mexican government's income. On Monday, March 8, the Los Angeles Times published an excellent article covering the imminent demise of Mexico's socialized oil industry. It is also a good example of the fate that awaits nations that refuse to deal with the American oil industry which has the technology to literally extract oil from stones.
By Charles Langley, Manager, UCAN Gas Project - Locally, wholesale gas prices in Southern California have spiked another nickel on average, since Monday. The retail price of gasoline is up by 9 cents from a week ago. Locally, our prices may be going up because of expected demand from Chile, but nationally, demand for oil and gasoline are at historically low levels.
By Charles Langley - Manager, UCAN Gas Project - Prominent analysts are saying that gas prices will likely spike even higher in the coming weeks because of the earthquake in Santiago Chile, which has destroyed three major refineries. Our very own Crude Reality blogger, and oil industry analyst, Bob van der Valk, has been quoted in today's Union Tribune, the »