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This Week In Petroleum

 

Have Gasoline Prices Passed This Summer’s Peak?

 

July 1, 2009 -  Heading into the 4th of July weekend, U.S. drivers are understandably concerned about gasoline prices, which have risen by more than $1 per gallon so far in 2009, and by nearly 60 cents per gallon since the beginning of May. On the other hand, gasoline prices remain well below last summer’s record levels, and actually posted a decrease in the past week. Have we already seen the worst for this year?

 

U.S. retail gasoline prices are driven by a number of factors (see the EIA brochure “A Primer on Gasoline Prices”), most notably, global crude oil prices and the balance between gasoline supply and demand in the United States. The major factor behind last year’s high gasoline prices, peaking at over $4.11 per gallon in early July, was record high crude oil prices, which reached over $130 per barrel - about twice the current level - as measured by EIA’s U.S. imported crude oil price (average imported prices weighted by estimated U.S. import volumes)......more (this link will take you to the Energy Information Administration website)

 

Are you a Canadian citizen planning on travelling to the United States?
New U.S. document requirements come into effect on June 1, 2009 

 

Ottawa, Ontario, June 1, 2009 — The Government of Canada is reminding Canadian citizens that as of Monday, June 1, they are required under U.S. law to present a valid passport or another approved secure document when entering the United States.

"We are pleased to hear that the United States intends to apply this law in a practical and flexible way," said Stephen Rigby, President of the Canada Border Services Agency. "Nevertheless, any Canadian citizen thinking about traveling to the United States should ensure they have an approved document as soon as possible."

Starting June 1, 2009, Canadian citizens are required to present one of the following valid documents when seeking to enter the United States by land or water:

  • a passport;

  • a NEXUS card;

  • a Free and Secure Trade (FAST) card;

  • an enhanced driver's licence/enhanced identification card (available in British Columbia, Manitoba, Ontario and Quebec); or

  • a Secure Certificate of Indian Status (when this certificate is available and approved by the United States).

  • Canadian citizens aged 15 years or under only require proof of citizenship, such as an original or photocopy of a birth certificate, or an original Canadian citizenship card. Canadian citizens aged 18 years or under who are traveling with a school or another organized group, under adult supervision with parental/guardian consent, may also present proof of Canadian citizenship alone.