The OilSpot News by DTN
Tuesday, May 26, 2009 VOLUME 7 ISSUE 353  



Refiner Sunoco Buys an Ethanol Plant in Upstate New York
Valero to Buy Dow’s 45% Stake in Netherlands Refinery
NOAA Forecasts Near-Normal Hurricane Activity in 2009
Valero Opens Fuel Terminal in Port Everglades, Florida
Innovation Fuels Begins Shipping from Port of Milwaukee
AgStar Sells Two Former VeraSun Plants to Omaha Company


US Retail Gasoline Average Jumps 6.9cts to $2.309 Gal
On-Highway US Diesel Fuel Average Up 1.5cts to $2.231 Gal
US Propane Stockpiles Up 1.8 Million Bbl Week-ended May 15


Obama Speeds Up National Fuel Standard to 35.5 mpg in 2016
Yergin sys New Fuel Standards May Unduly Pressure Automakers
Oregon Legislators Close to Amending State’s RFS Program
EPA Seeks Comments on Parts of RFS Law Dealing with RINs
TCEQ Approves $661,303 Fines for Environmental Breaches
CARB Fines L.A. MTA for Diesel Vehicle Emission Violations


Economic Indicators


Weekly Rack Postings

Broadening the Debate
Energy Security and Policy in the Face of Lower Demand

Most democrats and republicans agree that the U.S. needs to stop relying on foreign oil, but while the left pushes for green energy and conservation and the right pushes for increased stateside exploration and lower taxes on the oil industry, experts suggest an ecumenical approach that encompasses all of the above.

In his testimony before a Joint Economic Committee hearing on oil and the economy on May 20, researcher and expert Daniel Yergin said that the U.S. will have to diversify its energy sources in order to prevent future spikes in oil prices as well as improve energy security.

“We need to get beyond the either/or energy debate and take a more ecumenical approach,” he said in his prepared remarks for the hearing. “We have never seen anything like the embrace of energy efficiency that is taking place today all across the spectrum.”


[FULL STORY]
 

Gasoline Premium
Diesel, Gasoline Spring Price Crossover Returns

As of May 11, average diesel prices have dropped below gasoline prices for the first time since July 23, 2007, according to a report from the Energy Information Administration.

Gasoline and diesel prices traditionally crossed paths in springtime as the high-demand summer driving season begins and the consumption rate for gasoline grows while distillate fuel prices, including diesel and heating oil, fall from their winter highs. This price pattern began to break in 2005 when diesel prices exceeded gasoline prices nearly the entire year, according to the EIA report.

The abnormal price actions continued in 2006, when gasoline and diesel prices remained at parity from April to July. The pattern returned in 2007, with gasoline rising strongly above diesel from late April to late July. But last year, diesel climbed to much higher levels than gasoline, despite gasoline breaking $4 gal.


[FULL STORY]
 



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