www.lawnandlandscape.com 2/18/2003

CAMARILLO, California — Americans are digging deeper at the gas pumps.

According to a recent survey by publisher Trilby Lundberg, the average price of a gallon of gasoline nationwide has gone up more than 11 cents during the past two weeks.

Americans paid an average of $1.60 per gallon of self-serve regular, the Lundberg Survey said. According to the Lundberg survey, this is the highest price at the pump since June 2001.

The price increase is in keeping with the rise in crude oil prices, which have exceeded $35 per barrel — up more than $8 per barrel during the past two months, Lundberg said.

The two big reasons for the increase are an oil shortage caused by Venezuela's general strike and international preparations for a possible war in Iraq.

According to the Department of Energy, Venezeula was the fourth-largest exporter of crude oil to the United States in November, before the strike began.

Iraq, with the world's second-largest proven oil reserves, is the ninth-largest exporter to the United States. Concerns about the possible loss of Iraq's supply have affected the price of gasoline because on futures markets, "oil prices rise on fears and perceptions, not just supply and demand," Lundberg said.

Unusually cold weather across large portions of the United States have led to a spike in demand for heating oil, which, like gas, is refined from crude oil, she said.

Gas was cheapest in Phoenix, Ariz., where drivers typically paid $1.44 per gallon. Drivers in California's San Francisco Bay Area paid the most, at $1.82 per gallon. Des Moines, Iowa, had one of the largest increases: up 21 cents to $1.59.

The Lundberg Survey is based on prices that more than 7,000 gas stations nationwide reported Feb. 7.

Tuesday, February 18, 2003

www.tahoedailytribune.com February 18, 2003 Dan Thrift/Tahoe Daily Tribune Zoom By Gregory Crofton, Tahoe Daily Tribune

War jitters and a decrease in supply because of an oil worker strike in Venezuela have combined to double the price of a barrel of crude oil over this time last year. Gasoline on the California side of the Lake Tahoe Basin, some of the highest priced fuel in the country, is generally more expensive than fuel sold at the Nevada side of the basin because it must be reformulated to meet stricter air quality standards. Gasoline sold at the basin cannot contain MTBE, methyl tertiary butyl ether, a fuel additive banned in 2000. But that doesn't have a noticeable impact on prices at the pump, said experts from both states. "I don't think that makes that much difference now," said James Hickey, owner of Union 76 in South Lake Tahoe and four gas stations in San Diego. "All the other companies are getting rid of MTBE -- gas prices now have really nothing to do with MTBE." What does affect pump prices is how much suppliers jack up the prices to their buyers, who are gas station owners. They must maintain a certain profit margin to stay in business, said Al Moss, owner of Chevron at Ski Run Boulevard. "We just received another 5 cent increase this morning," said Moss on Monday morning when a gallon of regular unleaded at his station cost $2.23. "This is the highest I've ever seen them and I've been in the business 41 years." Moss said he is selling 27 to 30 percent less gasoline than he normally does this time of year. He believes the business is going to Carson Valley where large corporations such as Costco can afford to sell gas and not make a profit. "My wholesale prices are set by Chevron, what they sell it to me for I have to base my retail price on that," Moss said. "So as it goes up and they're passing the price onto me and I'm passing onto the motoring public ... And it's going to get higher." Competition from independent stations is what can often lower gas prices in an area, said Jason Toews, co-founder of www.gasbuddy.com, a Web site that tracks gas prices throughout the country. But Toews agrees with Moss' prediction that prices will continue to go up because of the shaky labor market in Venezuela and the threat of war in the Middle East. "Anytime there's uncertainty in the Middle East, it always affects the price of crude oil," Toews said. "I know Iraq produces 2 million barrels a day and the entire world produces about 70 million. "You stop all supplies coming from Iraq or affect the countries around it like Saudi Arabia and Kuwait and you could see record prices this summer." Prices also have increased at independent gas stations at South Shore. Lake Tahoe Oil Company at Round Hill, usually the cheapest in the area, sold its regular gas for $1.94 per gallon on Monday. "I noticed these guys were going up and thought, 'Uh-oh, this is serious,'" said Paul Bronken, who works as a dealer at Stateline and lives on Kingsbury Grade. "This is the only one that tries to keep it as low as possible." Hickey said he is working to keep prices at the Union 76 less than $2 but he doesn't think he'll be able to succeed much longer. "I don't know if it's possible, I only make about 8 or 9 cents a gallon, there's not very much margin there to make a profit and pay the bills," Hickey said. "The worst thing that's killing me are credit card fees. It's 3 percent card fee so if they buy 10 dollars of gas that's 30 cents goes to the credit card company." -- Gregory Crofton can be reached at (530) 542-8045 or by e-mail at gcrofton@tahoedailytribune.com

new.stockwatch.com 2003-02-18 09:41 EST - News Release

HOUSTON, Feb. 18 /PRNewswire-FirstCall/ -- Environmental Safeguards, Inc. (BULLETIN BOARD: ELSF) announced today that its wholly owned subsidiary OnSite Technology LLC ("OnSite") has entered into a global alliance with Onyx Environmental Services, L.L.C. ("Onyx"). OnSite and Onyx will each assist one another as preferred suppliers and jointly bid on projects that may utilize the services, expertise, or equipment of each party.

OnSite's patented ITD technology uses a heat jacketed rotating chamber that vaporizes hydro-carbons and hydrocarbon derivatives from contaminated materials, and a condenser that liquefies the vapor into hydrocarbon liquids of better than 99% purity, for reuse. A single ITD unit can process one to 10 short tons of waste per hour, depending on its content. In addition to the United States, soil remediation and hydrocarbon recycling operations have been successfully conducted in Mexico, Colombia, Venezuela, Scotland and the U.A.E. Since becoming fully operational six years ago, the Company has processed more than 750,000 tons of contaminated waste, recovering in excess of 15 million gallons of hydrocarbon fluids. More information on OnSite can be found at www.onsite2.com .

Onyx is a worldwide supplier of environmental services to the petrochemical, refining, and manufacturing industries. OES's web site is located at www.onyxes.com .

James S. Percell, chairman and CEO of Environmental Safeguards stated "This alliance is a win-win deal for all parties involved. It expands Environmental Safeguards' global market presence and allows us access to the expertise of Onyx and its many global clients. It also gives OES an exciting new line of services to add to its repertoire."

The Forward Looking Statement or Projections contained herewith involve risk and uncertainties which could cause actual results or outcomes to differ materially from those expressed, and accordingly should be read in conjunction with the Company's 10K for the year ending December 31, 2001 with particular reference to Information Regarding and Factors Affecting Forward Looking Statements in the Management Discussion and Analysis of Financial Condition and Results of Operations. Environmental Safeguards, Inc.

CONTACT: R.F. Hengen, +1-908-508-9000, for Environmental Safeguards, Inc.; or James S. Percell, President of Environmental Safeguards, Inc., +1-713-641-3838

Web site: www.onyxes.com www.onsite2.com

reuters.com Tue February 18, 2003 09:17 AM ET By Tom Ashby

LONDON (Reuters) - Oil prices edged upwards on Tuesday to hover close to two-year highs as the United States and Britain moved toward a second U.N. resolution on Iraq that could lead the way to war on the world's eighth largest oil exporter.

Iraq urged fellow Arab countries to use their oil riches as a weapon to avert war, although such calls have fallen on deaf ears in the past.

International benchmark Brent crude oil rose 17 cents to $32.09 per barrel, within a dollar of its two-year high of $33.10 hit last week.

U.S. crude futures, which were closed on Monday for the Presidents' Day holiday, fell 40 cents to $36.40, catching up with Brent's slide on Monday.

"An attack at the end of February through to the middle of March still seems almost inevitable," said Lawrence Eagles of brokers GNI.

British Prime Minister Tony Blair said he still wanted a further United Nations resolution before any war on Iraq, but added that he had not reached the time to decide yet.

European Union leaders closed ranks on Monday to warn Iraq that United Nations arms inspections could not go on indefinitely without Baghdad's cooperation and declared for the first time that war could be the last resort.

But the 15 leaders, bitterly divided over the Iraq crisis, failed to agree on how much time Baghdad should be given to rid itself of suspected weapons of mass destruction.

Iraqi Foreign Minister Naji Sabri urged Arab nations to use their massive oil wealth as a weapon against war.

A similar plea fell on deaf ears last April, when Iraq urged an embargo to protest against Israeli violence against Palestinians.

The Arab-dominated Organization of the Petroleum Exporting Countries, whose members have hiked output to cover for shortages from strike-hit Venezuela, has vowed to do its best to cover any shortfall in Iraqi supply.

BAD WEATHER, STRIKES

Oil prices found some support from bad weather in northeast United States, the world's largest heating oil market, the two-month-old strike in Venezuela and a strike by Nigerian oil workers which began on Saturday.

Heavy blizzards hit New England on Monday, closing most major airports between Washington and New York. The storm should boost heating oil use, but will also dampen gasoline demand as motorists stay at home.

Venezuela, once the world's fifth largest exporter, is battling a prolonged opposition strike which has crippled the oil industry.

Output there is still only half its normal three million barrels per day, while Nigerian oil workers threatened to cut off exports from Africa's top producer in a strike that began on Saturday.

Blue-collar Nigerian oil workers joined a strike by white-collar workers on Tuesday, but oil companies managed to maintain exports using senior staff to replace strikers.

www.vheadline.com Posted: Tuesday, February 18, 2003 By: Robert Rudnicki

Italian under secretary of state to the Foreign Ministry Mario Baccini has said his government is keen to take part in the Friends of Venezuela group currently made up of Brazil, Chile, Mexico, Portugal, Spain and the United States. 

"We hope that Italy might be officially admitted to the Friends of Venezuela group."

The comments came following a meeting with Venezuela Foreign (MRE) Minister Roy Chaderton Matos and a trip to Rome by Venezuelan-Italians who called for the Rome government to get increasingly involved in the political crisis.

Contact has already been made with other group members to evaluate what if any help Italy could be to their efforts. 

"Venezuela should remain linked to the international community so its problems can be solved without violence and through the strength of politics."