The Oil Drum: Australia/New Zealand | The Bullroarer

The Bullroarer - Saturday 10 November 2007

Posted by Big Gav on November 10, 2007 - 8:23am in The Oil Drum: Australia/New Zealand

SMH - Oil up again over fear of supply breaks

CRUDE oil rose for the first time in three days in New York on concern supply disruptions may hamper US efforts to store fuel for peak winter demand. A fire at Valero Energy Corporation's refinery in Port Arthur, Texas, the company's largest, left processing rates "somewhat reduced", a company spokesman said. Strong currents in the Gulf of Mexico are delaying the restart of the 150,000 barrel-a-day Mars platform, shut for maintenance since November 3, Royal Dutch Shell said.

The Australian - Rates, petrol put 10pc of firms at risk of collapse.

AS interest rates continue to rise, petrol prices hit records and the credit crunch worsens, almost 10 per cent of Australian companies - including 100 listed entities - face financial distress or insolvency next year. This is the verdict of an exclusive report released to The Weekend Australian by the country's leading receivables management and credit report company, Dun & Bradstreet.

The Bulletin - Plunge from the pump (via Energy Bulletin)

Rising oil prices have triggered a ripple effect that is changing our lifestyle - from grocery shopping to the traditional Aussie holiday. The galling thing is that a humble number embodies such power. That this fickle master reaches into every aspect of our lives, giving and taking from our hip pocket at whim. It decides how we travel, adds to our soaring grocery bills and will play a part in deciding the next prime minister. Worst of all, like portraits of Stalinist dictators, it's inescapable - on every roadside, in almost every suburb, in every town in the nation.

Maybe you've never thought of your local petrol station that way, let alone the bloke who takes abuse from behind the chewing gum. But the message from atop its bold, illuminated signpost is as powerful as ever. "Every time petrol prices increase, there is almost an audible gasp from middle Australia," says Bernard Salt, a partner at KPMG and renowned business adviser and demographer. "It's because petrol prices are so transparent. The number is etched before you every time you go to work and come home from work. It's out there, emblazoned on big placards. There's no escaping what those big numbers are."

The Australian - Uranium mines would hinge on Garrett's approval

Yass Tribune - As I see it