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Oil prices jump on stock report, gas prices at record level

NEW YORK -- Oil prices soared Wednesday as the dollar fell and the Energy Department issued a mixed report on the nation's fuel inventories. At the pump, gas prices rose to a new record over $4.05 a gallon, according to the Associated Press.

The department's Energy Information Administration said oil inventories fell more than expected last week, and that gave oil a kick upward. But prices eased back to their pre-report levels as traders read further into the EIA's release and found that supplies of fuel such as gasoline and heating oil rose and demand fell.

Light, sweet crude spiked up nearly $5.50 to $136.80 a barrel soon after the report's release, then retreated to trade up $3.06 at $134.37 a barrel on the New York Mercantile Exchange.

Posted by Peter C. T. Elsworth  at 12:10 PM to Crude oil market | Permalink | Comments 0

Teen Driving course at Seekonk today and tomorrow

In Control Advanced Driver Training is conducting morning and afternoon courses in advanced driving techniques for teenage drivers at Seekonk Speedway today and tomorrow.

This is the first time In Control’s program, which costs $299 and has trained more than 7,500 students, is being made available to young drivers in Southeastern Mass and Rhode Island, the Wilmington, Mass.-based company said in a news statement.

Teenage drivers will have the opportunity to learn, hands-on, how to react in potentially dangerous situations, and reduce their risk of being involved in an accident. These classes are taught in a monitored, closed-course environment to ensure the safety of all its participants.

When: Wednesday, June 11th and Thursday, June 12th. Two sessions available each day: 10 a.m. to 2:30 p.m. and 3-7:30 p.m.

Where: Seekonk Speedway – 1710 Fall River Avenue (Route 6), Seekonk, MA

Why: According to In Control Advanced Driver Training:

· The number one cause of teen deaths is automobile accidents;

· 93 percent of all automobile accidents involving teen drivers are caused by driver error;

· 70 percent of all teen drivers will be involved in an accident during the first two years of driving;

· With warmer weather approaching, more teens will be hitting the roads;

· Drivers who complete In Control’s program reduced their risk of getting into an accident by 70 percent; and

· The skills learned in this program gives drivers the best chance to avoid serious injury or death if involved in an accident

To schedule a course, call (888) 301-SAFE (7233) or go to:

http://www.incontroladt.com/

Posted by Peter C. T. Elsworth  at 11:56 AM to Teenage Drivers | Permalink | Comments 1

"American Chopper" chopper on view today

If you want to check out a chopper custom built by the famed Teutul family of Orange County Choppers and cable TV show American Chopper, a new Dryvit custom penguin chopper will be displayed today at 1 p.m. at the Rhode Island headquarters of Dryvit Systems Inc., according to a news statement from Dryvit Systems Inc.

The motorcycle will be featured on a new episode of American Chopper on The Learning Channel (Cox channel 39) at 9 p.m. tomorrow, June 12.

The one hour program will show how the custom chopper was built for Dryvit, whose wall system was used in the new Orange County Chopper headquarters in Montgomery, N.Y.

Dryvit's headquarters are at One Energy Way, West Warwick, RI 02893. The chopper is expected to be available for viewing and photos for about an hour.

Posted by Peter C. T. Elsworth  at 9:48 AM to Motorcycling | Permalink | Comments 0

Supply of hybrids runs out of gas as demand soars

Even as car buyers stampede for vehicles with better fuel mileage, there are fewer hybrids, the gas-stingiest, to go around, according to USA Today.

While sales of conventional small cars soared last month, sales of the most popular gas-electric hybrids were flat or down because dealers had fewer left. There was plenty of demand, but hybrid assembly plants are running as fast as they can, and some are short of components, particularly batteries.

Posted by Peter C. T. Elsworth  at 9:39 AM to Alternative fuels , Toyota | Permalink | Comments 0

Crude oil at $133, waiting on stock report, new record for gas

VIENNA, Austria -- Oil prices rebounded as the dollar weakened against major currencies Wednesday, but investors braced for a volatile trading day ahead of a report on U.S. crude inventories, according to the Associated Press.

Gas prices, meanwhile, advanced further into record territory Wednesday, reaching a new record national average of $4.052, according to a survey of stations by AAA and the Oil Price Information Service.

Light, sweet crude for July delivery was up $1.91 at $133.22 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe.

Posted by Peter C. T. Elsworth  at 9:33 AM to Crude oil market | Permalink | Comments 0