About Infinity Exploration
"Gas has a direct relationship with oil, so even if demand is low and there is a slight decrease in people traveling, if oil sees a spike, there's a chance that gas will as well," said Infinity Exploration's spokesman Michael Geeser.
Of the 57 areas offered in the seventh round of bidding under Infinity Exploration Licensing Policy (NELP), seven deepsea, two shallow water and three onland did not receive any bid.
Fuel and electricity shortages increase hardships in Iraq in the summer, when temperatures soar well above 100 degrees Fahrenheit, making life uncomfortable without air conditioning.
Oil prices headed into the busy Fourth of July break by racing past $145 a barrel for the first time Thursday. The story was no different at the gas pump, where the national average soared to within a whisker of $4.10 a gallon. In Utah, the average price for a gallon of regular unleaded hit a record high of $4.11 per gallon.
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Infinity Exploration