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Tag: oil prices
Roadbuilding
With oil prices plummeting, Obama says now is time to raise gas tax
Gas prices are continuing to drop to historic lows, and there’s really no sign the trend will reverse any time soon. With that in mind, President Barack Obama thinks now is as good a time as any to raise the gas tax. According to The Hill, Obama told reporters last week the low prices on […]
February 9, 2016
Roadbuilding
Alaska DOT hosts public meetings to discuss budget issues due to low oil prices
The Alaska Department of Transportation and Public Facilities (ADOT&PF) Northern Region is hosting a series of public meetings across the state to discuss budgetary restraints faced by the agency due to decreased revenues from the state’s oil industry. The department says potential cuts will impact highway maintenance among other modes of transportation, including six maintenance […]
January 6, 2016
Roadbuilding
Oil supply to keep gas prices low through the summer
Gas prices are projected to be more than a dollar per gallon lower this summer than during the summer of 2014, the U.S. Energy Information Administration predicted Wednesday. Basing the projection on a large drop in Brent crude oil prices, the EIA estimated U.S. average regular gasoline retail prices will average $2.45 per gallon during […]
April 9, 2015
Workforce
With oil field cuts increasing, Texas contractors rush to hire and recruit laid off workers
Many workers in South Texas are currently experiencing a bit of déjà vu. During the recession, the U.S. construction industry lost about 2 million workers to layoffs and cuts, many of whom found steady, high-paying work in the oil and gas industry due to the fracking boom. And because so many found good work there […]
February 10, 2015
Business
Falling oil prices could slow Texas construction industry
Construction equipment manufacturer Caterpillar has already taken a hit from falling oil prices and a new report from the Washington Post cautions that the Texas construction industry might soon see a slowdown for the same reason. The Post reports that credit rating agency Fitch has said that the ongoing drop in oil prices could undo some of the income generated […]
January 16, 2015
Business
Caterpillar shares fall after analyst downgrades stock due to falling oil prices
While the falling price of oil has been delighting consumers at the pump across the U.S. for the last couple of months, the situation recently became decidedly less delightful for Caterpillar executives. Shares of the Peoria, Illinois-based heavy equipment maker dipped 5 percent at the market’s close Monday to $87.03 after JPMorgan downgraded its rating of the […]
January 6, 2015
Business
Will the plunge in crude oil prices kill the fracking boom?
For the last few years the conventional wisdom has been that fracking and oil and gas extraction in shale will continue to be profitable as long as crude oil prices remain above $70 a barrel. Below that point, middle eastern crude, which can be pumped out of the ground for less than $20 a barrel […]
December 23, 2014
Home
Oil prices climb to $77
Oil climbed and hovered around $77 a barrel as the U.S. economy’s demand for crude oil dropped after weak U.S. consumer confidence. New York’s light sweet crude for delivery in September increased 29 cents to $77.28 a barrel, and Brent North Sea crude for September climbed 28 cents to $76.34 a barrel in Thursday in […]
August 4, 2010
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