Archive - Jun 26, 2008 - blog

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Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics. The industry is usually divided into three major components: upstream, midstream and downstream. Midstream operations are usually included in the downstream category. Petroleum is vital to many industries, and is of importance to the maintenance of industrialized civilization itself, and thus is critical concern to many nations.

From the mid 1980s to September 2003, the inflation adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. During 2004 the price rose above $40, then $50. A series of events led the price to exceed $60 by August 11, 2005, briefly exceed $75 in the middle of 2006, fall back to $60/barrel by the early part of 2007, then rise steeply to $92/barrel by October 2007 and $99.29/barrel for December futures in New York on November 21, 2007[1] Throughout the first half of 2008, oil regularly reached record high prices. On February 29, 2008, oil prices peaked at $103.05 per barrel,[2] and reached $110.20 on March 12, 2008,[3] the sixth record in seven trading days.[4] [5] The most recent price per barrel maximum of $140.05 was reached on June 26, 2008.[6]

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Images courtesy of Wikipedia

Original Source: Wikipedia

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CHICAGO, June 25 /PR Newswire-First Call/ -- United customers traveling through Chicago O'Hare may receive red carpet treatment this summer with United's first new Red Carpet Club® to open since 2000. The enhanced club that has more than doubled in size and has new furniture and a modern design now offers travelers a more pleasant environment to work or relax.

"Our guests tell us they want to be comfortable and productive when traveling, and United's new Red Carpet Club at O'Hare offers both -- more personal space and additional work areas with complimentary Wi-Fi service," says Graham Atkinson, United Airlines - executive vice president and Chief Customer Officer. "Whether our guests want to relax or finish a presentation, the Red Carpet Club will now give them more ways to get the most out of their travel experience."

The new club includes power outlets accessible from nearly every seat and creatively designed work stations, enabling business travelers to be productive in a more casual environment and reflecting the current trend blending leisure and work. Enhanced food and beverage options in the club will include two serving areas, a bar, and two self-service juice and soda stations.

The club is adjacent to gate B18 in O'Hare's Terminal 1, and customers will be conveniently located near many of the international flights operated by United and Star Alliance® partner Lufthansa. The club is available to Red Carpet Club members and customers traveling internationally in United First® and United Business®, and any United customer may purchase a one-time pass for $50. These customers and members also receive complimentary Wi-Fi service powered by T-Mobile® HotSpot. Press Release Source: United Airlines

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Images courtesy of United Airlines

Original Source: Yahoo Finance and United Airlines