Tagged: crude oil

Cleanup crews are collecting oil that remains at the bottom of the Kalamazoo River this week.

It’s been nearly a year since more than 840,000 gallons of heavy crude oil leaked from a broken pipeline near Marshall. More than 90% of the oil has been cleaned up already.

Becky Haase is a spokesperson for Enbridge Energy, the company that owns the pipeline.

Everybody’s got a theory why gasoline prices shot up.

“I think gas prices are up because we’re getting our gas from the wrong place.  We need to get gas from Alaska.”

“I think gas prices are up because it’s summertime and everybody wants to travel and it’s a conspiracy.”

 “Government regulators are not willing to rein in Wall Street.  If you can speculate on a commodity and you have a hedge fund that’s big enough, you can affect prices and earn profits.”

Unrest in the Middle East may soon affect gasoline prices in Michigan. Crude oil prices are approaching one hundred dollars a barrel, which is expected to increase the cost of gasoline globally.

Nancy Cain is with AAA Michigan.   She says it’s too soon to predict whether or not the price for a gallon of regular unleaded will reach four dollars, like it did two years ago.