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Bad Credit Credit Creditres To see whether spring is just around the corner, the groundhog nowadays looks not only for his shadow, but for spikes in gasoline prices as well. And what he sees may give him sticker shock. A dime increase in the price of gasoline shifts $10 billion from the consumers to the pockets of the oil industry.

Analysts say hurricane damage is hampering U.S. oil production, ignite in Nigeria, Africa's largest oil producer, tightening global oil supplies. The supply concerns come as winter approaches in the northern hemisphere, which boosts demand for heating oil. Voice of News will be reporting on any new market trends related to this story. box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, box.

Bad Consolidation Credit Debt According to Federal Reserve Chairman Alan Greenspan, price spikes can ''undermine both the real purchasing power and the confidence of consumers'' and push the economy toward recession.

Venezuela is currently the world's number five crude oil exporter. The government has been tightening its grip on the oil sector to raise additional funds to fight poverty in the country. As well as demanding firms give up majority control of their Venezuelan oil ventures, the government is also demanding firms pay more taxes. Last month, BP was slapped with a back tax bill of $61.4m (35m) covering 2001 to 2004.

Bad Company Credit Repair How can we avoid these spikes? The staff report I released last week shows that as fewer companies have gained more control of this nation's refineries, these companies can limit the supply of gasoline in order to charge higher prices.

Meanwhile, the oil prices reached back above a barrel due to a reduction in shipping supply caused by bad weather in Alaska.

Bad Card Credit Credit When supplies of gasoline are ''tight'' and inventories are low, two things can happen:

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Bad Car Credit Loan * Oil companies can spike prices before holidays without fear of competition driving them back down.

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Bad Credit Loan Mortgage * Any disruption -- such as a refinery outage or pipeline break -- will lead to a shortage and a spike in the price.

Auto Bad Credit Loan Recent mega-mergers have put together big chunks of the Standard Oil trust that was broken apart nearly a century ago.

Bad Credit Mortgage Refinance In California, six companies control about 90% of the gasoline produced and sold, and profits from refining are high.

Bad Credit Refinance Our investigation found that in order to limit gasoline supplies, oil companies in California sought to block shipments of gasoline into the state, export gasoline from the state and prevent a refinery from operating.

Bad Credit Mortgage Second In the Midwest, which is becoming highly concentrated, too, at least one company considered the same tactics.

Bad Credit Loan Student Just before Labor Day last summer, prices in the Midwest spiked by almost 40 cents. One cause of this spike was the decision of a few refiners to reduce gasoline production, even in the peak demand season, in order to boost prices. Unique fuel specifications were not an issue.

Bad Card Credit As long as concentration in the refining industry continues to increase, Americans can expect price spikes to occur regularly and to be another reason for the groundhog to scurry back into his hole.

Bad Credit Financing By Sen. Carl Levin, D-Mich., chair of the Senate Permanent Subcommittee on Investigations.

Bad Credit Home Loan Mortgage USA Today - 5/7/2002

Topic: Petroleum Industry

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