When George W. Bush became president the price of oil was around $29 a barrel. It is now about 4x higher. Pretty good job for a guy who started life as an "awl man."http://www.newser.com/2008 - Newseren-usNewser Feed GeneratorTue, 07 Oct 2008 7:17:29 CDThttp://www.newser.com/story/38104/bailout-oil-send-dow-down-372.html?refid=rss_all_defaultStocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75, at 11,015.69. The Nasdaq lost 94.92, closing at 2,178.98, and the S&P 500 lost 47.99, closing at 1,207.09.http://www.newser.com/story/38104/bailout-oil-send-dow-down-372.html?refid=rss_all_defaultMon, 22 Sep 2008 15:25:29 CDThttp://www.newser.com/story/38102/oil-surges-record-25barrel.html?refid=rss_all_defaultOil prices rocketed up more than $25 a barrel today, recording the biggest one-day price jump ever as anxiety over the government's $700 billion bailout plan, a weak dollar, and an expiring crude contract ignited a dramatic rally. Light, sweet crude for October delivery jumped as much as $25.45 to $130 a barrel on the New York Mercantile Exchange before falling back to settle at $120.92, up $16.37, the AP reports.http://www.newser.com/story/38102/oil-surges-record-25barrel.html?refid=rss_all_defaultMon, 22 Sep 2008 14:18:22 CDThttp://www.newser.com/story/37689/us-may-seek-worlds-emergency-fuel.html?refid=rss_all_defaultThe Bush administration may ask the International Energy Agency to release emergency fuel stocks into the domestic market to cushion losses from hurricane-battered oil refineries, Reuters reports. Gustav and Ike temporarily closed a dozen Gulf Coast refineries, though all are in "reasonably good shape" according to an official, resulting in daily losses of 1.1 million barrels of gas production and 700,000 barrels of distillate fuel output.http://www.newser.com/story/37689/us-may-seek-worlds-emergency-fuel.html?refid=rss_all_defaultWed, 17 Sep 2008 13:47:57 CDThttp://www.newser.com/story/37478/oil-falls-below-97-on-mild-ike-damage.html?refid=rss_all_defaultOil prices fell below $97 a barrel today, after Hurricane Ike inflicted minimal damage to oil installations on the Texas coast. Light, sweet crude for October delivery declined $4.39 to $96.79 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe, after finishing at $101.18 on Friday. Federal officials said yesterday that the storm destroyed only about 10 of the Gulf's 3,800 oil and gas platforms.http://www.newser.com/story/37478/oil-falls-below-97-on-mild-ike-damage.html?refid=rss_all_defaultMon, 15 Sep 2008 7:05:34 CDThttp://www.newser.com/story/37395/why-mccain-longs-for-19th-century-fuels.html?refid=rss_all_defaultWhy are Republicans chanting "drill, baby, drill," a call for an outdated, 19th-century technology like fossil fuels? Because they are turning every political debate into a cultural "wedge Issue," Thomas Friedman writes in the New York Times —"including even energy policy, no matter how stupid it makes the voters and no matter how much it might weaken America."http://www.newser.com/story/37395/why-mccain-longs-for-19th-century-fuels.html?refid=rss_all_defaultSun, 14 Sep 2008 10:29:10 CDThttp://www.newser.com/story/37318/oil-dips-below-100-for-first-time-in-5-months.html?refid=rss_all_defaultThe price of crude oil slid briefly under $100 a barrel today for the first time in 5 months, Reuters reports. The development came even as Hurricane Ike bore down on the Texas coast and its many refineries; investors apparently think the slowing world economy will continue to drive down demand. After trading at $99.99, the price ticked back up to $100.27.http://www.newser.com/story/37318/oil-dips-below-100-for-first-time-in-5-months.html?refid=rss_all_defaultFri, 12 Sep 2008 13:01:41 CDThttp://www.newser.com/story/37212/medvedev-urges-calm-in-russian-market-crisis.html?refid=rss_all_defaultThe Russian economy is skidding, and its leaders are giving somewhat contradictory messages, the AP reports. Shortly after President Dmitry Medvedev assured the public today that stock-market troubles don’t “reflect the actual state of the economy,” the chairman of the country’s central bank said “as far as liquidity is concerned, there is some shortfall in the banking sector.”http://www.newser.com/story/37212/medvedev-urges-calm-in-russian-market-crisis.html?refid=rss_all_defaultThu, 11 Sep 2008 16:10:03 CDThttp://www.newser.com/story/37045/opec-cuts-oil-production.html?refid=rss_all_defaultThe international oil cartel OPEC announced today it's reducing production by more than half a million barrels a day, the Financial Times reports. The decision by the cartel, which controls 40% of world oil production, stunned most analysts. The move comes as oil prices, after spiking to an all-time high in July, have dropped 30%, bringing relief to many world economies.http://www.newser.com/story/37045/opec-cuts-oil-production.html?refid=rss_all_defaultTue, 09 Sep 2008 23:57:21 CDThttp://www.newser.com/story/36511/small-cars-carry-big-price-tags.html?refid=rss_all_defaultWith sales of SUVs and trucks dwindling, car companies have begun to push smaller, more fuel-efficient models—but not for the same small prices. Without the $10,000 profit that was typical on SUVs, automakers can no longer sell cars like the Ford Focus for an average profit of $100. Some are using extras to lure higher-spending customers.http://www.newser.com/story/36511/small-cars-carry-big-price-tags.html?refid=rss_all_defaultWed, 03 Sep 2008 9:28:45 CDT