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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jun 24, 2006
Page
8
The AA says Texas motorists see relief as regular self serve gasoline averages drop 4 cents to 2.78 per gallon. National average falls 5 cents to 2.85. Crude oil staying under 70 dollars a barrel could push prices lower says auto club spokeswoman Rose Rougeau.
The average pump price above seven dollars? No, the report notes Galveston and Texas City averaging $2.90 per gallon, down 3 cents from last week, while Corpus Christi posted the cheapest rate at $2.53, down nearly 13 cents.
AAA Texas Weekend Gas Watch shows average regular self serve prices slipping in Austin San Marcos Beaumont Corpus Christi Dallas Fort Worth Galveston Texas City Houston San Antonio. Most metros record declines from last week with Austin San Marcos off 2.6 cents and Corpus Christi down 12.6 cents.
Anadarko Petroleum Corp will pay 21 billion dollars to buy Kerr-McGee Corp and Western Gas Resources Inc. The cash deals total 164 billion for Kerr-McGee at 70.50 per share and 4.74 billion for Western Gas at 61 per share, with debt assumed, boosting output in the Gulf of Mexico and Rockies.
Oil futures edged higher as August light sweet crude rose to 71.05 a barrel on the NYMEX and Brent climbed to 69.96 on ICE. Gains followed solid global demand, a Gulf Coast shipping snag, and tensions over Iran, with gasoline futures at 2.129 per gallon.
The Economic Policy Institute reports U S CEOs made about 10.9 million annually in 2005, 262 times the typical worker wage of 41 861. The study notes the gap reached its second highest level in four decades, with a single day of CEO pay exceeding a year’s earnings for an average employee.
Treasury Secretary John Snow said a CIA run program tracking millions of financial transactions is necessary and not privacy invasion. He described it as government at its best and vital to the war on terrorism, noting it helps locate financiers and map terrorist networks.
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