eNergy Culture

Valero CEO Bill Kless spoke out against ethanol at a National Petrochemical and Refiners Association conference in San Diego. (Reuters) - Using corn to produce ethanol will make food so expensive in poor countries that it will cause more misery than global warming, the chief of the biggest U.S. refining company claimed this week. "Corn and ethanol production and the resulting high prices will impact the world in a much more acute negative way than greenhouse gas emissions and climate change ever will," Valero Energy Corp Chief Executive Bill Kless said on Tuesday at a refining conference in San Diego. Many economics have noted ... Read Full Story

Valero CEO Bill Kless spoke out against ethanol at a National Petrochemical and Refiners Association conference in San Diego. (Reuters) - Using corn to produce ethanol will make food so expensive in poor countries that it will cause more misery than global warming, the chief of the biggest U.S. refining company claimed this week. "Corn and ethanol production and the resulting high prices will impact the world in a much more acute negative way than greenhouse gas emissions and climate change ever will," Valero Energy Corp Chief Executive Bill Kless said on Tuesday at a refining conference in San Diego. Many economics have noted ... Read Full Story

With the recent rise of both crude oil and gasoline (petrol) prices, there has been an increasing amount of interest in how crude oil is used to make gasoline. In this article, I will explain the basic refining process and point you to other sources where you can find more detailed information on this topic. Crude oil, otherwise known as petroleum, is a fossil fuel that is extracted from the ground and refined to make a wide variety of products ranging from liquids like cleaning solvents and motor fuels to solids such as asphalt and plastics. The proportion of crude oil that is ultimately ... Read Full Story

"Oil, Gasoline Tumble as World Bank Predicts a Deeper Recession" Crude oil fell more than $2 and gasoline tumbled after the World Bank said the global recession will be deeper than forecast, bolstering concern that fuel consumption will remain depressed. Oil dropped as much as 4.7 percent after the bank projected the global economy will contract 2.9 percent this year, more than its previously forecast decrease of 1.7 percent. Prices also declined as the dollar strengthened, reducing the appeal of commodities as an alternative investment. “We’re lower because reality is asserting itself,”..... Complete Story "> "> ">Today’s Stock Market Club Trading Triangles "Petrobras to ... Read Full Story

Crude oil rose for the first time in three days in New York as a storm near Cuba prompted evacuations from rigs and production platforms in the Gulf of Mexico. Tropical Storm Fay, with maximum sustained winds of about 50 miles (80 kilometers) an hour, was centered 200 miles southeast of Havana, Cuba at 8 p.m. New York time and may strengthen to a hurricane before striking Florida's northwestern coast Aug. 19, the National Hurricane Center said. Gains were limited on speculation slowing U.S. economic growth will trim fuel demand. ``We would have to see oil prices spike'' if Fay veers west toward Louisiana, ... Read Full Story