FuelMonger

Bloomberg.com
Crude futures takes a plummet from the projected 2009 average of $148/barrel last May to the current $30 projection for next quarter.

Washingtonpost.com
The U.S. finally agreed to sell gas and oil leases in eastern Utah.  This move is controversial in the push to move away from fuel from fossil fuels but supports the push toward energy independence.

Brietbart.com
OPEC leaders met in Cairo on Saturday to determine a market quota. While demand has been down, the organization made no decision to limit output. Leaders think a consensus for supply quotas may be made in December.

www.nytimes.com
OPEC meets Friday to discuss solutions to the dropping price in crude oil. But with demands plummeting, the only option seems to cut production.

Kuwait News Agency
Kuwait Petroleum Corporation denies any allegations of discussion to store oil reserves abroad in China, Vietnam, or other parts of the Asia. The corporation is accused of considering stockpiling due to international tensions that may break out. But as crude prices decline, the idea of stockpiling dramatically falls.

www.time.com
Most Americans have been cheering the fact that crude oil prices are dropping and pump prices have been quickly falling as well. However, the news from the pump is both good and bad.

www.associatedpress.com
Iraq’s oil minister met with oil company representatives to begin laying the ground work for outside companies to begin bidding on access to the country’s energy reserves. The outside investments will inject some much needed money into Iraq’s oil field.

Bloomberg
Russian and Venezuelan presidents agreed on a joint venture of oil and gas with intentions to expand with China, Iran, Cuba, Bolivia, and beyond. The process includes everything from extraction to shipping. In return for Venezuelan expertise, Russia agreed to a billion dollar loan for military weapons and coorperation on Venezuela’s nuclear program.

New York Times
Kate Galbraith discusses the personal missions of BP’s T. Boone Pickens and Chesapeake Energy’s Aubrey K. McClendon and their traditional strategy of getting their energy message to the masses.

Technology Review
Technology Review’s Kevin Bullis sits down with Steven Koonin, BP’s chief scientist, to discuss strategies on energy and where BP is headed.