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Exxon Ordered to Pay $1.5 Billion

A Baltimore County jury has ordered Exxon Mobil to pay more than $1.5 billion in damages involving an underground gasoline leak at a rural Maryland gasoline station.

Senh: Whoah, one gasoline leak can cost that much damage? These oil companies make so much money anyway, so I'm sure they can afford it.

 

ExxonMobil CEO Says Oil Price Should Be $60 To $70 A Barrel

Rex Tillerson, the boss of ExxonMobil admitted last week that the price of oil–based purely on supply and demand- should be in the $60 to $70 a barrel range. The reason it’s above $100 a barrel, Tillerson explained, is due to the oil majors using futures contracts to lock in current high prices, and speculation that is engineered by the high-frequency trading of quantitative hedge funds.

 

Thousands of Refinery Workers Prepare to Picket

A strike by some 24,000 refinery workers was averted, at least for now, as both sides agreed to extend negotiations for at least 24 hours.

 

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