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NEWS
November 18, 2005 | Gale A. Norton
Gale A. Norton is the U.S. secretary of the interior America is ignoring the light on the dashboard when it comes to energy. We are in denial. We think that simply because we've always had abundant energy - except in the 1970s, when we were stuck in gas lines - we always will. Americans were surprised when growing world demand for energy pushed the price of oil to record levels last summer and when Hurricanes Katrina and Rita drove gas above $3.60 a gallon in some places.
NEWS
October 20, 2002 | By Dick Polman INQUIRER STAFF WRITER
Is this a grand crusade, or a grudge match? Is this about securing world peace, or grabbing the oil fields? Those who support a "regime change" in Iraq argue that President Bush's motives are pure. Last week, while signing the congressional war resolution, he declared that America's goal is to "finally remove a real threat to world peace" and "help Iraqi citizens find the blessings of liberty. " But within the large pool of skeptics - 42 percent of Americans oppose invasion by U.S. ground troops, according to the latest Newsweek poll - there is a nagging suspicion that Bush's motives for toppling Saddam Hussein are far more personal, that what he really wants is to avenge his father and open the Iraqi oil reserves to his friends.
NEWS
March 17, 2016 | By Andy Maykuth, STAFF WRITER
Embattled Radnor oil and gas producer Penn Virginia reported gloomy annual earnings late Tuesday, as its auditors expressed "substantial doubt" about its ability to be a going concern. The company, which primarily produces oil and natural gas liquids in Texas and has been slammed by depressed energy prices, reported a loss of $1.6 billion on revenue of $305 million. Much of the loss was attributed to a $1.4 billion impairment from the reduced value of its oil reserves. The auditor's negative assessment puts Penn Virginia's revolving credit agreement into technical default.
BUSINESS
February 27, 2015 | By Andrew Maykuth, Inquirer Staff Writer
    Penn Virginia Corp., the Radnor oil and gas exploration company, reported an adjusted fourth quarter loss of $25.4 million, or 35 cents per share. Analysts surveyed by Bloomberg had anticipated a loss of 10.5 cents per share. The company, which reported earnings Wednesday after markets closed, reported product revenues of $101.4 million, or $51.73 per barrel of oil equivalent, compared to $141.9 million, or $67.91 per barrel a year ago. A Bloomberg consensus of 16 analysts had anticipated sales of $137.6 million.
BUSINESS
September 23, 2004 | INQUIRER WIRE SERVICES
Royal Dutch/Shell Group, which in January said it had misled investors on the size of its oil and gas reserves, said yesterday that it would spend $45 billion over three years on finding new oil reserves and other projects. But the announcement prompted the biggest decline in its shares in eight months as investors bet the new outlay would prevent the firm from continuing a stock buyback program. Shell said that it planned $10 billion to $12 billion of asset sales to raise cash during the period and that it might make acquisitions as needed.
BUSINESS
September 17, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The New York Stock Exchange is threatening to delist the shares of embattled Radnor oil producer Penn Virginia Corp. for failing to maintain an average closing stock price of at least $1 for the last 30 consecutive trading days. Under NYSE rules, Penn Virginia will regain compliance if, on the last trading day of any calendar month in the next six months, its closing share price and its consecutive 30 trading-day average closing share price are at least $1 per share. Penn Virginia's shares have sunk in the last year along with the oil price; its 52-week price has ranged from $13.99 to 71 cents.
BUSINESS
September 12, 2002 | By Ken Moritsugu INQUIRER WASHINGTON BUREAU
For oil companies and governments in the United States and around the world, there is more at stake in Iraq than weapons of mass destruction. There is oil. Iraq has the world's second-largest oil reserves, after Saudi Arabia. Toppling Saddam Hussein could restore Iraq as an influential player in the world oil market. Development of Iraq's vast oil reserves, which has been largely suspended during two decades of war and U.N. sanctions, could push down global oil prices and produce a windfall for oil companies that win the exploration and development contracts.
NEWS
September 20, 2000
Unlike that old adage that those who claim to remember the '60s weren't really there, those who remember the '70s remember a cold and brutal time of gas rationing, heating oil shortages, a new villain called OPEC, and lots of used Cadillacs for sale. Cheap. Get ready for another installment of that '70s show. As prices for both natural gas and heating oil are forecast to rise 55 percent over the previous winter,OPEC is once again being called the anti-Christ, and coming soon to a used-car lot near you will be a few thousand used SUVs.
NEWS
May 20, 2012 | By Ben Feller and Jim Kuhnhenn, Associated Press
CAMP DAVID, Md. - Confronting an economic crisis that threatens them all, President Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge. "There's now an emerging consensus that more must be done to promote growth and job creation right now," Obama proclaimed after hosting unprecedented economic talks at Camp David, his mountaintop retreat.
NEWS
May 13, 2000 | By Barbara Demick, INQUIRER STAFF WRITER
What happens when the oil runs out? It is a nagging question that is the fodder for discussion at family dinners in the Persian Gulf and at newly formed think tanks. The question, however, is not merely academic: Oil reserves in some of the gulf's sheikdoms are within a generation or two of running dry. If these young nations carved out of the desert sands by the wealth of oil are to survive, they must diversify their economies. "We once owned little more than our camels," says Abdulla Karim, a Saudi-born academic with Institute for Futuristics, a think tank based in the Qatari capital of Doha.
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NEWS
March 17, 2016 | By Andy Maykuth, STAFF WRITER
Embattled Radnor oil and gas producer Penn Virginia reported gloomy annual earnings late Tuesday, as its auditors expressed "substantial doubt" about its ability to be a going concern. The company, which primarily produces oil and natural gas liquids in Texas and has been slammed by depressed energy prices, reported a loss of $1.6 billion on revenue of $305 million. Much of the loss was attributed to a $1.4 billion impairment from the reduced value of its oil reserves. The auditor's negative assessment puts Penn Virginia's revolving credit agreement into technical default.
BUSINESS
September 17, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The New York Stock Exchange is threatening to delist the shares of embattled Radnor oil producer Penn Virginia Corp. for failing to maintain an average closing stock price of at least $1 for the last 30 consecutive trading days. Under NYSE rules, Penn Virginia will regain compliance if, on the last trading day of any calendar month in the next six months, its closing share price and its consecutive 30 trading-day average closing share price are at least $1 per share. Penn Virginia's shares have sunk in the last year along with the oil price; its 52-week price has ranged from $13.99 to 71 cents.
BUSINESS
February 27, 2015 | By Andrew Maykuth, Inquirer Staff Writer
    Penn Virginia Corp., the Radnor oil and gas exploration company, reported an adjusted fourth quarter loss of $25.4 million, or 35 cents per share. Analysts surveyed by Bloomberg had anticipated a loss of 10.5 cents per share. The company, which reported earnings Wednesday after markets closed, reported product revenues of $101.4 million, or $51.73 per barrel of oil equivalent, compared to $141.9 million, or $67.91 per barrel a year ago. A Bloomberg consensus of 16 analysts had anticipated sales of $137.6 million.
NEWS
January 12, 2013
By Teo Ballve As Venezuelan President Hugo Chavez fights for his life, an honest assessment of his 14 years in office must take into account his significant achievements. From humble origins, Chavez worked his way up the ranks of the Venezuelan military. He seized the national spotlight in 1992 after leading military officers in a failed coup. In a televised address, Chavez admitted the power grab had failed - "for now," as he ominously put it. For many viewers, the once-obscure colonel became a national folk hero, the person who had finally stood up to a corrupt regime.
NEWS
August 24, 2012
DEAR HARRY: I was browsing on my computer the other night when I came across an article that claimed that the U.S. has oil reserves in a belt from Montana to Texas that exceed those of the entire Middle East. The estimates run to a trillion barrels. This is supposed to be a long-held secret by an agreement among the major oil-drilling companies. The article seemed to be the real McCoy, with all kinds of backup information. It also urged readers to sell their oil-company stocks and get involved in buying long-term oil options.
NEWS
May 20, 2012 | By Ben Feller and Jim Kuhnhenn, Associated Press
CAMP DAVID, Md. - Confronting an economic crisis that threatens them all, President Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge. "There's now an emerging consensus that more must be done to promote growth and job creation right now," Obama proclaimed after hosting unprecedented economic talks at Camp David, his mountaintop retreat.
NEWS
March 28, 2012
IN THE REGION Sales of generic Seroquel begin Drugmakers have begun selling generic versions of the antipsychotic Seroquel, days after a U.S. court dismissed a bid by British pharmaceutical company AstraZeneca to extend the patent. Mylan Inc. and Teva Pharmaceutical Industries Ltd. say they are starting the commercial launch of quetiapine fumarate tablets. A U.S. court on Friday dismissed AstraZeneca's bid to extend patents on the medication's active ingredient, quetiapine, and on the formula for Seroquel XR, the extended-release version.
NEWS
June 24, 2011 | By Neela Banerjee and Ron White, Tribune Washington Bureau
WASHINGTON - The price of oil tumbled Thursday after the U.S. and other industrialized countries said they would release 60 million barrels of crude from their stockpiles in a bid to revive the flagging economic recovery by driving down painfully high energy prices. The stockpiled oil, half of it to come from the U.S. government's Strategic Petroleum Reserve, is scheduled to be sold on the energy markets in the next 30 days, the Obama administration said Thursday. "This is about addressing supply disruptions and their potential impact on global economic growth," a senior administration official told reporters on a conference call.
NEWS
March 29, 2011 | By MICHAEL EICHERT
STRUGGLING to recover from the financial assault by Wall Street, and drowning in foreclosures, lost jobs, rising taxes, escalating medical costs, cuts to school programs which inevitably lead to burgeoning prisons, we're engaged in yet another military conflict in a Muslim nation. We're barely out of Iraq, which has cost U.S. taxpayers a staggering $782 billion. (Sound familiar? It's the amount of our economic stimulus.) Also entrenched in a futile conflict in Afghanistan, which has cost more than $390 billion and is climbing, we find ourselves reluctantly dragged by our European allies, the Arab League and the plaintive cries from Libyan rebels who faced extermination by their leader of 42 years, the delusional madman Moammar Gadhafi.
NEWS
October 14, 2008 | By John Allen Paulos
It can be telling when a campaign relies on numerical demagoguery. Every candidate and campaign does so to an extent, but John McCain's team seems to be especially prone. Consider the incessant talk about earmarks, those congressional provisions that fund specific projects in a legislator's district or state. This is often unnecessary pork-barrel spending and, in many (but not all) cases, nothing to celebrate. Although this is hardly a presidential issue, McCain likes to rail about purportedly frivolous earmarks - for example, for mapping the DNA of bears in Montana or upgrading a planetarium in Chicago.
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