Business News for Saturday April 30, 2011

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Oil companies reportedly produce less gas WASHINGTON (UPI) -- U.S. oil companies are producing less gas with refineries operating at about 81 percent of capacity and exporting more of their production, experts say. That is contributing to higher prices at the pump, the Los Angeles Times reported Thursday, although higher crude prices are still the major factor. In the past 20 years, the federal Energy Department has reported refineries have averaged 89 percent of capacity in late spring. Exxon Mobil Corp... Continue Reading... Post a Comment | Share Spain unemployment rate goes up MADRID (UPI) -- Spain's jobless rate, the highest in the European Union, hit a 14-year high at 21.3 percent in the first quarter, the National Institute of Statistics reports. The 21.3 percent rate, which compares to 20.3 percent in the same quarter in 2010, meant 4.9 million people were looking for work. Spain's economy has been hit by an economic slump and high public deficits and though debt-reduction measures have been adopted, no results are expected before the end of... Continue Reading... Post a Comment | Share Russian gov't blamed for gas shortages MOSCOW (UPI) -- Petroleum industry analysts in Russia blamed the government for gas shortages in Siberia and questioned whether higher export duties would help. The government said it would raise export duties 44 percent in May, an increase from the anticipated raise of 34 percent, as it tries to balance out prices in Russia with prices abroad. Towns in northern Russia have been experiencing gasoline shortages and fast-rising prices because oil companies have preferred to ... Continue Reading... Post a Comment | Share Advertisement Can Anyone Win The Lottery? They may with "The Lottery Black Book" Cook the healthy way - no grease or oil - New Orgreenic Kitchenware - See Video Consumer spending up 0.5 percent in March WASHINGTON (UPI) -- Consumer spending rose 0.6 percent and incomes were up 0.5 percent in March, the U.S. Bureau of Economic Analysis reported Friday. The bureau said the rate of spending slowed from February, revising the gain in the second month of the year from 0.5 percent to 0.9 percent in its latest report. For March, disposable incomes rose 0.6 percent compared to February. In March, private wages and salary disbursements increased by $18 billion, compared ... Continue Reading... Post a Comment | Share     More Headlines • Markets post gains • Oil steady, gas heads towards $4 • Gold soars to $1,556 an ounce • Weaker dollar sends CBOT higher • Chicago business: Strong but slower     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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