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November 24, 2010 | Reuters
NEW YORK/SINGAPORE - An oil glut that has weighed on prices for two years is dissipating, with U.S. stockpiles falling their fastest in over a decade this autumn, crude being whisked ashore from storage at sea, and China running refineries near full bore to replenish diesel supplies. Oil stocks are still well above levels that preceded a 2008 price surge to $147 a barrel, but a massive oil surplus accrued during the global economic downturn is being burned off. That could leave oil prices -- now trading near $81 a barrel after they fell from two-year highs above $88 this month -- more vulnerable to upward surges.
November 17, 2010 | James Rainey
It was just after 7:30 last Saturday morning when anyone following Buzz Bissinger's Twitter feed might have sensed the first pop and hiss of another gathering eruption. The initial message from Bissinger promised, "No ranting today. " But the acclaimed author of the book "Friday Night Lights" followed with a potshot at "that judge in England [who] should be shot (gently and without permanent damage) for convicting guy of bad Tweet. " Seconds later, another message derided all "dangerous judges.
November 2, 2010
Forty-five years after Smokey Robinson found himself "Going to a Go-Go," he is now headed into Cracker Barrel restaurants ? a sign of change not just in music but for the roadside diners too. The former lead singer of Motown sensations the Miracles on Monday released his latest album not through record outlets, but via a program offered by the chain of nearly 600 diners known for home-style cooking and selling folksy merchandise. The album, called "Smokey Robinson Now & Then," mixes live performances of six classic Miracles' hits such as "Going to a Go-Go," "The Tears of a Clown" and "The Tracks of My Tears," with six studio-recorded tunes from Robinson's recent CD, "Time Flies When You Are Having Fun. " ?
October 16, 2010
:: WORTH IT :: Gray water Value ranking: 1 Gray water is the waste generated from faucets, showers and laundry machines ? water that accounts for 54.2% of all water used inside a home, according to the U.S. Environmental Protection Agency. With California deep into a drought, in August 2008 I retrofitted the plumbing on my laundry machine to send its gray water into my landscape. Over the past two years, that simple switch has sent 9,720 gallons of laundry water to passion fruit vines instead of the sewer, and it required only one change to my usual routine.
September 11, 2010 | By Richard Fausset, Los Angeles Times
Work on the ultimate seal of BP's troubled gulf oil well will begin this weekend, sooner than expected, officials said Friday. Thad Allen, the federal spill response chief, indicated earlier this week that the "bottom kill" procedure to plug the well for good might not take place until late September or early October if experts decided engineers must apply a new cement seal on top of the well. The cement job, he said, would serve as "insurance" against any surge in pressure during the bottom kill, which involves penetrating the original well deep underground and jamming it with mud and cement.
September 7, 2010 | Reuters
U.S. oil prices slipped below $74 a barrel Monday as the end of the U.S. driving season and high levels of unemployment in the world's biggest oil consumer raised concerns over the outlook for demand. The Labor Day holiday, which marks the traditional end of American summer holidays when gasoline demand peaks, kept volume low in many markets. The New York Mercantile Exchange, home to benchmark U.S. crude futures also known as West Texas Intermediate, will combine trades from Sunday, Monday and Tuesday into one trading session, with a single settlement at Tuesday's close.
August 7, 2010
What is a barrel of oil worth? Generally, the answer depends on a number of factors, including the mood of the commodities markets, the grade of the oil and demand at the gas pump. The basic assumption, however, is that the oil has a value because it eventually will be available for use. But in a historic move, Ecuador is asking the world to put a dollar figure on oil that will not be used — oil it intends to protect from excavation. On Tuesday, Ecuador and the United Nations Development Programme began soliciting donations for a trust fund that would remunerate the country if it forgoes drilling in a pristine portion of its Amazon rain forest for 10 years.
July 19, 2010 | By Lily Kuo and Barbara Demick, Los Angeles Times
The ground shook when the first oil pipeline burst, leading residents and port workers near Dalian's Xingang Harbor to think an earthquake was underway. Instead, what locals were witnessing was China's most recent environmental mishap. Two oil pipelines near the port exploded Friday, igniting a roaring inferno that shot flames 60 feet into the air and spilling an estimated 11,000 barrels of oil into the Yellow Sea. No serious injuries were reported and the fire was brought under control Saturday, authorities reported, but as of Monday, hundreds of vessels were trying to clean up a slick that extended for miles.
June 16, 2010 | By Richard Simon, Ronald D. White and Richard Fausset, Los Angeles Times
The number keeps changing, and the news keeps getting worse: Now the oil spewing into the Gulf of Mexico could be flowing at 60,000 barrels a day. Hours before President Obama took to the airwaves to speak to Americans about the gulf oil spill, the government group whose task it is to assess the flow rate from BP's undersea well came up with a revised estimate of 35,000 to 60,000 barrels a day. A previous revision from the federal Flow...
June 12, 2010 | By Jim Tankersley, Tribune Washington Bureau
One of the most confounding issues about the Deepwater Horizon explosion and resulting oil leak is that after more than a month and a half, no one can say for certain just how much oil has gushed into the Gulf of Mexico. Teams of scientists have employed various methods to calculate the flow rate, and with each study, they have revised estimates upward. Meanwhile, others are working to pinpoint where the oil has gone and where it might head next. Based on the best available data, here's what we know: How much oil has the blown-out well leaked into the gulf?
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