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Show DAILY Friday, May 30, 2008 Crude tillates, including heating oil and diesel fuel, which rose by 1.6 million barrels last week, double what analysts had expelled. July heating oil futures plummeted 13 cents to $3.6943 a gallon on that news. Continued from B6 ket's fundamentals. "You're seeing some big funds in there throwing money around on both sides of the market," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, 111. In its weekly inventory report, the department's Energy Information Administration said crude oil inventories fell by 8.8 million barrels last week, while gasoline supplies fell by 3.2 million barrels. Analysts surveyed by energy research firm Platts had expected slight increases in sup- "Heating oil is dragging the complex lower," Ritterbusch said. The surprise drop in gasoline supplies propelled June gas futures to a new trading record of $3.52 a gallon on the But gas later retreated, following the rest of the complex, to trade down 3.26 cents at $3.415agalloa At the pump, meanwhile, the average national price of a gallon of gas rose 0.8 cent Ny-me- x. ERALD N rose 0.9 cents Thursday to a record national average of $4,787. Diesel prices are above $5 a gallon in some areas, and are pulling prices of food and consumer goods higher; diesel is used by most trucks, trains and ships. High prices are cutting consumers' appetite for fuel; demand fell slightly, on average, over the last four weeks, E1A data show. Data provided by the firm that publishes the MasterCard SpendingPulse survey showed that gasoline demand fell by 7.6 percent last Friday, the first day of the B5 ASSOC lATID membershqj cards prevent excessive drinking, keep minors from drinking and reduce drunken driving. Coray said. "This should be done in an orderly way, hav"We've been doing a very ing a sensitivity to people who good job on overconsump-tion,- " he said. "I won't do anywish to drink and those who do not want to have drinking thing to jeopardize that." in their environment." Bar owners and their supIf approved by the liquor porters say it's nonsense to to start gathering information board, the plan would go to argue that filling out a form reduces alcohol consumptioa on abolishing the system. the Legislature, which would have to change the law. Utah is the only state that They also note that someone has to be 21 to be served alcoThe proposal already requires patrons to fill out an hol regardless of whether a has the support of Gov. Jon application and pay a fee before entering a bar that serves Huntsman, who believes the bar is private or not. If the effort to repeal priprivate-cluliquor. system tarnishes Commissioner Bobbie Coray the state's image and hurts the vate clubs fails in the Legislasaid country clubs and frater$6 billion tourism industry. ture, the Utah Hospitality AsBut he doesn't have a sponsor sociation says it will continue nal groups might want to remain private, while clubs that for the bill in the Legislature, to try to put the issue on the ballot in 2010. The association where leaders are skeptical. only serve alcoholic drinks is the primary trade group for Senate President John Valmight want to end contends that Utah bars. entine, THE 3-- b A great product can determine the size of your business, but it's the foundation of customers that keep it standing advertising message con reach more than Your 92,000 readers every Sunday Continued from B6 the price discovery process." CFTC also said it has The with its reached an agreement futures at the same time and it will be "like entering a revolving door at the wrong time in the wrong direction," according to Cameron Hanover Inc. President Peter Beutel. U.S. Sen. Jeff Bingaman, chairman of the Senate Energy and Natural Resources Committee, earlier this week asked the CFTC to provide the com- mittee with more information about its oversight of energy commodity markets. The New Mexico Democrat said he was concerned about British counterpart and Exchange Inc.'s Futures Europe to expand surveillance of energy futures contracts with U.S. delivery points, including the benchmark West Texas Intermediate crude, which trades on the Nymex. "The implementation of today's measures will improve increasing trading activity ,; oversight of the energy futures in U.S. crude oil taking place markets to ensure they reflect overseas and in markets. He also fundamental economic forces of supply and demand, free of questioned the CFTC practice of classifying large investmanipulation and fraud," the ment banks as "commercial" CFTC said in a statement. market participants alongside Analysts said the CFTC action would likely have a limited traditional buyers and sellers, and its "continued assertion impact on oil prices, which that noncommercial particihave risen on a combination of factors, including growing pants, or speculators, follow rather than lead oil price demand in China and other movements." developed nations, the falling value of the dollar, geopolitical Bingaman on Thursday said tensions and low interest rates, he was pleased with the CFTC which have fueled a futures steps and that a future hearing will explore how they will buying binge by institutional address his concerns "that the investors seeking to ride oil's commission lacks a robust unupward momentum. It is the last factor, exacerderstanding of the oil market." bated by the Federal Reserve's Congress earlier this month voted to give the CFTC greater efforts to prop up the ailing housing market, that is playing oversight of unregulated elec-the biggest role in the recent tronic exchanges as a way to , runup, according to Howard Simons, a strategist at Bianco Research in Chicago, "Eliminate that excess money and the problem of soaring prices disappears," he said. Still, the CFTC action "will have a chilling effect" on speculative investors' enthusiasm for energy futures, Simons predicted. "What they're saying ... is, 'You either stop this or we're " going to stop it for you.' one least At energy analyst sees trouble on the horizon for pension funds and other investors looking to commodities indexes as just another type of security they need to have in their portfolios. If a major price drop occurs, this relatively new breed of investors will want out of energy al Continued from B6 CMsj fHBf" the Daily Herald. in Mm dm 1 1 Li messaging Touch screen slider, Samsung Glyde Verizon Wireless Exclusive QQ S50 y mail-I- n retoatft. i powerhouse for web and email. Pint-size- d The i NEW BlackBerry Curve 8330 Smartphone $14999 $299.99 .f, I ' f Verizon Wireless Exclusive ' The S149.99 $9999 Dual-fli- u rebate mail-i- n Slimmer, smarter, sexier. TheNEWLGenV2 - ta) - $50 price and $1 00 advanced device credit. p -- $50 rebate. mail-i- n TXTer. NEW Alias by Samsung Verizon Wireless Exclusive S7G99 Multimedia messenger. I Moto Q Save - 50 $229.99 I 519.99 I -- $50 price rebate. mail-i- n 9m $50 price $7999 I All rebate mail-i- with new activation per phone; and $100 advanced device credit. 9m & or higher. Unlimited Text Picture Video IM to ANYONE on ANY NETWORK in America. 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Sun AMERICAN FORK Layton JC..: Click verizonwireless.com Call 1.800.2.JOIN.IN 5. (801) Plaza Center Dr. (801) please call 1.406.581.8400 or click verizonwireless.comsmallbusiness VISIT THE VERIZON WIRELESS STORE INSIDE CIRCUIT CITY. STAFFED WITH VERIZON WIRELESS EMPLOYEES - EXCLUSIVE OFFERS AVAILABLE! fast-foo- d price- -: $249. W i Connie. The Niman Ranch network, which raises animals on diets of corn and alfalfa, grew from about 100 small farms when it started supplying Chitxrtle earlier this decade to its current roster of 600, Willis said. "We used to soy that every time they opened a store, we could take on another farmer, but they grew faster than we did," he said. OTtwireless "' Save up to 50 on our latest devices. tion. A Senate subcommittee investigation last year found that hedge fund Amaranth Advisors LLC, which collapsed in 2006 after losing more than $6 billion in natural-ga- s trades, had shifted its activities to ICE from the regulated Nymex to avoid trading limits, and that the "excessive speculation" raised homeowners' heating bills, j Speculation has been cited as one of many factors to surging petroleum prices, along with assumptions about new supplies, limited demand growth, possible supply disruptions overseas and the dollar's depressed value against other currencies. Jack Graves, an executive with Vancouver, Wash.-base- d Burgerville said the chain plans to add at least three new stores this year after finding success with its naturally raised beef burgers, shakes from seasonal berries and onion rings made from locally lunch. Steaks and loins from grown produce. Country Natural Beef, a naturally raised pigs and cattle have been an increasingly easy cooperative of 120 cattle ranchers in 15 states that supplies sell to fine restaurants and upbeef to Burgerville, also sells scale supermarkets. steak and round cuts to Whole But until now, that hasn't Foods Market Inc. and other been true for fattier, more sinnatural grocers. ewy cuts such as pork shoulBut having Burgerville as der and beef chuck that rancha customer for its chuck has ers have long been forced to allowed ranchers to earn a sell at commodity prices. d better return on each animal, The growing demand by said central Oregon rancher chains for those cuts is becoming "part of a distribution Doc Hatfield, who established chain to get our products to the the cooperative with his wife Hmffim V3ri protect consumers and deter price distortion and manipula- Many customers are willing to pay a premium to feel better about their fast food. For example, a hot dog at Let's Be Frank sells for $5, while a meal costs about $8 at Burgerville a few dollars more than a typical fast food public," said Paul Willis, who manages Niman Ranch Inc's network of some 600 small family farms that supply pork for Denver-baseChipotle. "They become part of the solution to marketing the whole pig." The natural offerings have helped Chipotle post 10 consecsales utive years of same-stor- e growth, company spokesman Chris Arnold said. Sue Let's Be Frank Moore said her stands have 1 . ' Get Unlimited Meat "I've said that I've wanted to eliminate liquor laws that seem to be unreasonable," PRESS Utah's SALT LAKE CITY hospitality industry isn't the only group trying to loosen the state's unusual liquor regulations. The "private club" designation for bars that serve liquor could be history. Liquor-contrcommissioners voted, long Memorial Day weekend, compared to last year. More data on Memorial Day weekend gasoline demand won't be plies of both. Thursday to a record $3,952, But the EIA also offered a available until next week. according to a survey of starare explanatory note on the Concerns about weak detions by AAA and the Oil Price Gulf Coast tanker problems. Information Service. Analysts mand pushed oil prices sharply That could mean there will be and the Energy Department lower earlier this week. Crude a big jump in crude inventories forecast prices will rise above futures also faced headwinds in next week's report, analysts the psychologically important from the dollar, which rose said. Gulf ports have closed $4 level soon, on a national baThursday against the euro and sis. Prices are already that high British pound. Investors who many times in recent months in many parts of the country, due to fog, said Phil Flynn, buy commodities such as oil as an analyst at Alaron Trading a hedge against inflation when and are averaging more than the dollar is falling sell when $4 in 11 states and the District Corp. in Chicago. "This is the worst year I can of Columbia. the greenback strengthens. Diesel prices are also soarremember for fog," Flynn said. Also, a stronger dollar makes oil more expensive to investors Also putting some weight ing. The national average on prices were supplies of dis dealing in foreign currencies. price of a gallon of diesel fuel Feds law is targeted Private-clu- b FORT UNION 0GDEN 0REM RIVERDALE RETAILERS Equipment prices, rebates & return additional equipment related charges, including cancellation tees. AUTHORIZED IN Verizon Wireless Centers at COIUIOIUIION WIIH Alcatel-Luce- nt m gov't ,...buast-.,;N.- 0REM CENltRVItlE (801)802 7666 (8Q1) IMPORTANT (incl. Mobile Limited-tim- by location Authored Retailers may impose C0WiRELS3 SPRINGVILLE 294 7S70 (801)491-470- PARKCIIY PR0V0 LIND0N (435)575 0275 (801)494-101- (801)785 8900 PR0V0 RIVER10N 1153 (8011446 6065 Surctilrjii (Incl Fid. 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