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Some vehicle manufacturers are passing some price increases on to consumers, Lopes says. But, on the most part, they try to avoid that, of course, given the very competitive market. It's not a clear translation for us from additional raw material costs to end higher cost for consumers.

Around 800 tons of oil is estimated to have spilled into the sea. The oil spill has hit shipping companies the hardest as ship movement to and from the ports of Mumbai and JNPT had been suspended. These two ports handle 60 percent of India's container traffic.

The U.S. petroleum industry's price was heavily regulated through production or price controls throughout much of the twentieth century. In the post World War II era U.S. oil prices at the wellhead averaged $26.64 per barrel adjusted for inflation to 2008 dollars. In the absence of price controls, the U.S. price would have tracked the world price averaging $28.68. Over the same post war period the median for the domestic and the adjusted world price of crude oil was $19.60 in 2008 prices. That means that only fifty percent of the time from 1947 to 2008 have oil prices exceeded $19.60 per barrel.

After a bit we said we can’t live here anymore and we had to relocate. About a decade passed. I met my wife. She got pregnant and was drinking water that we didn’t know was contaminated. My son was born but didn’t grow well. He died at just 6 months. I took him to a hospital in Quito but they couldn’t do anything.

The Los Angeles Times argued in an editorial that forcing him to relinquish the footage turns the point of journalistic access on its head, If journalists must reveal what they learn but do not publish from those sources they cultivate most carefully, then sources will keep them at arms’ length. This nation is better off because Upton Sinclair was able to insinuate himself into Chicago’s meatpacking plants, it will be better again if Berlinger prevails on appeal. And it will be better still when Congress passes a federal shield law that protects journalists and their sources.

The stress-tests report really spooked the markets and has caused a good deal of risk aversion. We saw Europe sell off, we saw money piling into safer assets, including the U.S. dollar, said Matt Smith, commodity analyst at Summit Energy in Louisville, Ky. Hence, we are seeing crude selling off. It's been a flight to safety.


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