Newspaper article THE JOURNAL RECORD

Oil Prices Hit $18.84 a Barrel

Newspaper article THE JOURNAL RECORD

Oil Prices Hit $18.84 a Barrel

Article excerpt

Energy futures advanced on the New York Mercantile Exchange Tuesday.

West Texas Intermediate crude oil settled 2 cents lower to 17 cents higher with May at $18.84 a barrel, up from $16.67 Monday.

Heating oil was .42 cent to .57 cent higher with May at 49.24 cents a gallon. Unleaded gasoline was .30 cent to .58 cent higher with May at 53.27 cents a gallon.

In New Orleans Tuesday, an international energy expert said the Federal government is playing a dangerous game in allowing the domestic oil industry to wither away in the face of ever-increasing imports.

"The question is not whether we will have another energy crisis, but when it will occur if present policies continue," said Charles Ebinger, director of the Energy and Strategic Resources Program at Georgetown University in Washington, D.C. He made the remarks while addressing the 15th annual Energy Conference held by Howard, Weil Labouisse, Friedrichs, Inc., New Orleans investment and securities firm. …

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