Fort Worth Star-Telegram from Fort Worth, Texas • 33

www slur-telegram com I riday September 8 2IXK) 3C Oil From Page 1C Oil too expensive for US world Clinton tells Saudi crown prince winter compared with last year and that residential prices for natural gas will be at least 27 percent higher Describing his Wednesday evening meeting with Abdullah the president said told him that I was very concerned that the price of oil was too high not just for America but for the world that if a cause of recession in any part of the world that would hurt the oil producing Clinton said there are other reasons why high prices are not in the interest of the Organization of the Petroleum Exporting Countries The administration had hoped that OPEC production increases in March and again in June would force prices down to tire range of $20 to $25 a barrel fight over energy policy in the presidential campaign Republicans accused Democratic candidate A1 Gore of being part of an administration that let US influence over OPEC slip Gore meanwhile has accused Republican presidential candidate George Bush a one-time oil man and running mate Dick Cheney who ran an oil-services business for the past five years of being in the pocket of the oil industry With the potential to shake burning economy the surge in oil prices is particularly troubling because US inventories are at a 24-year low The Energy Department forecasts that heating oil a byproduct of crude will cost about 30 percent more this California and parts of the Midwest Miller says the crude oil market could be on the precipice of a sudden drop because of a phenomenon in futures trading called With backwardation prices for a commodity such as crude oil are lower in future months than they are at present In the case of crude the $35 per barrel price this week for October delivery slides'to $30 for April and $2845 for September 2001 This phenomenon causes the big oil companies which do the bulk of energy futures trading to buy the bare minimum of crude for their refineries "Nobody wants to pay $34 for crude today when the price may be $4 to $6 per barrel less in a few said Miller The refining companies themselves comment on their futures trading strategics But if Saudi Arabia the power in OPEC does as analysts expect and increases its production by 1 million barrels or so a day the reverse could set in Miller said Saudis might have to let the price of oil drop down to as low as $20 per barrel in order to stabilize the he said reflecting the widespread belief that the equilibrium price where demand meets supply is the same per barrel level where it traded before its plunge beginning in late 1997 If the drop happens he said oil companies would quickly buy more crude and thus produce more gasoline and other distillates driving down retail prices for motorists and users of home heating oil That would be in terms a a situation in which futures prices are higher than the i current price That would cause oil 1 companies to buy crude furiously to lock in the lower prices thus duplicating the trading environment that caused crude prices to plunge two years ago The crude is there for the buy- ing according to Bear Leuffer who says there are about 250 million barrels of crude oil that are from international reports Those barrels are in tankers at sea and sitting in various pipelines and storage facilities in OPEC nations going unsold because of backwardation he contends think there is a lot of oil in Asia and on the water and coming here Leuffer said He said that international energy statistics that traders have been i using to justify shortages and high- er prices are unreli- Instead Leuffer contends higher tanker rates this year show that plenty of oil is moving around but that it yet been directed to refineries in the US and elsewhere think that oil is headed for a Leuffer said Dan PilkT (817)390-7719 Jtmpil Mur-lelegramcom Texas Although motorists would get some relief from pump prices that are 50 percent higher than last September the oil producers could be thrown into the pit of low prices they endured two years ago believe that when oil prices start down the correction could be anything but said energy analyst Frederick Leuffer of the Bear Stearns investment firm in New York Houston oil analyst Ken Miller of Purvin Gertz said Thursday that if OPEC countries decide to increase production in order to stabilize prices very well could cause prices to Another Houston consulting firm Groppe Long Littell said Thursday that of crude being counted in the international energy statistics that show tight worldwide crude inventories George Littell of the firm said that if OPEC ministers add to their daily production when they meet this weekend is very possible for them to cause another period of low Texans in the energy business know how quickly things can change Three years ago the industry was enjoying stable prices ranging between $20 and $22 per barrel well above the $15 price con- Pump From Page 1C The computer that runs the screens is based on wireless Internet technology which allows BillBoard to change the ad line-up throughout the day at any of the stations from the Frisco offices gives advertisers tremendous Hall said For example coffee ads might be appropriate in the morning and commercials for fast-food restaurants could run closer to lunchtime Area hotels could reach tourists who stop to refuel and marketers of packaged goods such as snacks might also be interested he said pitching to them is Hall said can guarantee how many people are looking at those ads a captive is the next step in a chain reaction evolution of the KXTX From Page 1C will air local programming he said Azteca America will have its network operations center at the KXTX building on Harry Hines and Oak Lawn in Dallas Pappas said that the digital network operations center will employ 40 to 50 people and that the company will hire 50 to 100 workers to run the local station In March firm Southwest Sports Group said it was negotiating the sale of KXTX but would not identify prospective buyers Hicks bought KXTX in 1997 through his investment firm to provide a broadcasting outlet for his the advertising on the screen and give them a percentage of the Hall said idea and the technology behind it is a brilliant cross-marketing said Steve Ferreira vice president of strategic planning for Pantry based in Sanford NC Brad Butcher national facility revenue manager for Pilot Corp agreed concept not only enhances the convenience store experience by providing an entertainment value but also helps drive consumers into the store when they might normally drive off after filling he said Hall said he expects to have 3000 screens running nationwide by end He said he is also working with major networks for the right to download news weather and sports from their Web sites goal here is to roll out nationwide as fast as we can put them Hall said Sandra Baker (817) 390-7727 saixiker star-teleqnwicom a crosstown merger in Dallas In the process Halliburton eliminated the 400 jobs at its Fort Worth production facility The low prices were reversed beginning in the spring when OPEC was able to impose production quotas on its members As a result motorists in Texas have paid an average of $150 for regular self-serve gasoline this summer and prices reached $2 a gallon in able to download Wight said Jeff Lenard communications director for the National Association of Convenience Stores trade group in Alexandria Va said he also expects to see an explosion in the use of technology at the pump in the next several months According to NACS statistics 60 percent of the gas purchased in the United States is sold at convenience stores where the average motorist spends two to four minutes at the pump staring into space Last year Texas led all states in the amount of gas pumped at convenience stores Lenard said The 12400 convenience stores in Texas pumped 142 billion gallons of gas Internet is not necessarily a threat to the convenience Lenard said have a couple of minutes to catch the attention Retailers are looking to embrace the In addition to Fort Worth Bill-Board tested its video screens at a station in Plano and one in Parkers based in Haltom City The networks compete for the growing Hispanic population of about 33 million in the United States According to the National Hispanic Media Coalition US Hispanics have an estimated $370 billion in purchasing power Marco Camacho Hispanic Television president and chief executive said the formation of a new network demonstrates the significance of Spanish programming and advertising deal shows how important M853 Business burg WVa This month BillBoard will install screens at stations in Dallas Houston San Antonio Cary NC Jacksonville Fla Cleveland Ohio and Grove City Pa The Pantry one of the largest convenience store operators will allow BillBoard Video to install the network at 1300 stores in the South Pilot Corp a national operator of 180 travel centers in 37 states will let BillBoard Video install monitors at 137 locations Hall said no advertisers have agreed to buy advertising through his system yet but he believes that will come as he signs up stations As part of his test Hall used ads for Pepsi and Frito Lay based in Plano and owned by Pepsi Neither Frito Lay nor Pepsi paid for the test conducted on 16 screens at eight pumps at the Drivers Travel-mart The pitch to gas stations is simple install it for free and we sell this market is and how this segment of the US population is Camacho said is plenty of room for a fourth Currently the Metroplex is served by several Spanish-language television stations: Univision operates Channel 23 and Channel 31 Telemundo runs Channel 52 HTVN owns Channel 55 and there are two independent stations Channel 25 and Channel 44 Camacho said that TV Azteca and HTVN had discussed a programming agreement but that a 71 ie Associated Press NEW YORK With prices spiking to a 10-year high Presi- dent Clinton complained Thursday that oil is too expensive just for America but for the and raised concern about a recession striking somewhere around the globe Clinton said he told Saudi Crown Prince Abdullah that he hopes that oil-producing nations which will meet Sunday in Vienna will agree to increase production to force down prices Clinton and Abdullah met on the sidelines of the UN Millennium Summit After a summer of high gasoline prices and the prospect of hefty home heating bills this winter the rising prices have revived a sidered the profit level for producers Then OPEC which controls prices by virtue of having 70 percent of the crude oil supplies decided to loosen the production spigots The result was a plunge in prices to as low as $10 per barrel by early 1999 The results were dramatic Fort biggest oil company Union Pacific Resources Group William Hall BillBoard Video chief at a Fort Worth convenience store said Dairen Wight editor of the National Petroleum News an industry publication based in Northbrook 111 When consumers embraced pay-at-the-pump technology retailers Texas Rangers and Dallas Stars But last September Hicks sold the cable rights to the Rangers and Stars to Fox and Channel 39 stopped broadcasting games after the Stars season finished in June we had entered into this long-term partnership with Fox the need for us to own one television station in the D-FW area was just said Michael Cramer chief operating officer for Southwest Sports Cramer said the company has about 30 employees at Channel 39 mainly technicians and operators The company placed some employees in other positions within Southwest Sports and offered severance packages to those who do not have new jobs in the organization he said in some instances ground An alliance requires approval from the Postal Service Board of Governors and Henderson expects to bring the panel a detailed proposal in October If it is approved the organizations would begin coordinating their operations early next year no legal prohibition to our doing Henderson said notion that seeking more efficient air transportation surprise However the legal issue clear-cut a lot for FedEx and the Postal Service to said Paul Schlesinger transportation analyst at Donaldson Lufkin Jenrette in New York the idea of an agency favoring one private company in an industry where lots of competition brings up some enormous public policy questions In the end it may be An alliance between private entrepreneurial FedEx and the quasi-govemmental Postal Service would represent a sea change in the delivery industry and a direct laid off 400 workers UPR moved its remaining 800 Fort Worth jobs to Houston after being acquired this year by Anadarko Petroleum Oil giants Exxon and Mobil merged as did British Petroleum and Amoco Oryx Energy of Dallas was bought by Kerr-McGee of Oklahoma and like Union Pacific Resources saw its jobs moved out of town On the service side Halliburton and Dresser Industries did executive looks at a gas pump monitor started seeing all kinds of advertising possibilities he said Soon consumers will be able to buy fuel additives right at the pump he said be surprised to see the Internet at the pump and people Currently the station plays reruns of popular shows such as Married with Children Taxi and Gunsmoke and game shows such as Family Feud KXTX will be part of 1 1 -station network that includes stations in Los Angeles Miami San Francisco Houston and El Paso The network will be officially launched in the second quarter of 2001 and will exclusively run programming made by TV Azteca is a need in the media for a distribution medium that can reach the Hispanic households and Hispanic Pappas said There are three Spanish-language networks in the United States: Miami-based Telemundo controlled by Sony Los Angeles-based Univision and Hispanic Television Network challenge to Atlanta-based UPS UPS is the largest transportation company with $27 billion in annual revenue and FedEx is second with $18 billion FedEx operates a regional hub at Alliance Airport and has other operations at DallasFort Worth Airport UPS operates a regional hub at DFW UPS officials say the Postal Rate Commission and Congress should ultimately decide the public policy matters A Postal ServiceFedEx partnership seems an odd marriage Some of national TV ads in the 1980s mocked Postal Service employees and two years ago the Postal Service launched its own series of ads taking aim at FedEx and UPS FedEx sued to halt the ads but the Postal Service campaign continued Emery Worldwide handles the bulk of the Postal air shipments But the two organizations have been at odds since April when Emery sued claiming breach of contract Postal Service officials said Thursday that a deal with FedEx would replace the existing Emery contract contract was never reached TV deal with Pappas Telecasting gives the company a distribution channel in the United States that it has not had before Pappas will own 80 percent of Azteca America and TV Azteca will own 20 percent Azteca America plans to expand its Texas presence by looking for other stations to purchase Pappas said Andrea Aides (817) 390-7695 aahles Mar-telegram com Business Opportunity N862 Business Opportunity to Muses Property (RentLease) FENCE BUSINESS Gross $365000'" 40x60 shop with yard office $100000 (817) 558 7541 FULLY EQPT Kitchen Pert for small catering operation 817 7638442 EQUIPPED Restau for lease Hospital 924 8069 MADE $105000 AT A MALL LAST CHRISTMAS expanding looking partners with lots of and a little Call (817) 9232111 WtblblDE GLUB for bale mix drinks beer Onh licesed qualified need call (940)769-45bl WRECKING YARD FOR LEASE Estab location $2Kmo Creig 834 3625 $2000 WEEKLY Money Time Freedom Compi Training 1 888 789 4011 N864 Franchises CleanNet USA LOWEST FRANCHISE FEE' 1 Office Cleaning Franchisor We provide $500 to $10K per mo in contracts train equip msur Low invest wguar tin Metro 817-421 4144 FT WORTH TOWN CENTER South Freeway and Seminary Dr 4 mi of Downtown 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