Shrinking leaves point to climate change

Wednesday, July 4, 2012

University of Adelaide researchers have discovered that recent climate change is causing leaves of some Australian plants to narrow in size.

The study, which is the first of its kind in the world, highlights that plant species are already responding to changes in climate. The results are published online today in the Royal Society journal Biology Letters.

Researchers analysed leaves from herbarium specimens of Narrow-leaf Hopbush (Dodonaea viscosa subsp. angustissima) dating from the 1880s to the present. The study focused on specimens from South Australia's Flinders Ranges.

The analysis revealed a 2mm decrease in leaf width (within a total range of 1-9mm) over 127 years across the region. Between 1950 and 2005, there has been a 1.2?C increase in maximum temperatures in South Australia but little change in rainfall in the Flinders Ranges.

"Climate change is often discussed in terms of future impacts, but changes in temperature over recent decades have already been ecologically significant," says Dr Greg Guerin, a Postdoctoral Fellow with the University of Adelaide's School of Earth and Environmental Sciences and lead author of the study.

"Climate change is driving adaptive shifts within plant species and leaf shape has demonstrated adaptive significance in relation to climate.

"Our results indicate that leaf width is closely linked to maximum temperatures, and plants from warmer latitudes typically have narrower leaves.

"In the case of Narrow-leaf Hopbush, we can significantly link the changes in leaf width to changes in climate."

Dr Guerin says some Australian plant species have greater potential to respond to and cope with increasing temperatures than others. "It's important to understand how plants cope with changing climates, because species that are more adaptive to change may be good candidates for environmental restoration efforts.

"Other species in the region have less potential to adapt. These species may rely more heavily on migration ? moving from location to location where the climate is favourable ? but this can be problematic in a landscape fragmented by human activity," Dr Guerin says.

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University of Adelaide: http://www.adelaide.edu.au

Thanks to University of Adelaide for this article.

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Source: http://www.labspaces.net/121469/Shrinking_leaves_point_to_climate_change

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Choosing the Right BBQ Smoker Grills ? Food and Drinks

Most people only spend a few days out of the year, typically holidays, grilling tasty barbeque delights. These barbeque amateurs spend hundreds of dollars on extravagant grilling machines. The features of most amateur grills overshadow the fact that the grill is not really made for creating optimal barbeque flavor. If you want to be a true barbeque chef then you will need to get a real barbeque machine. True barbeque connoisseurs own bbq smoker grills. Using a bbq smoker is the only way to imbue your barbeque with the richest traditional barbeque flavor possible. The only problem is that there are tons of these bbq smoker grills on the market. Some are great and some make your kitchen oven look like a possible alternative. There are a couple tricks to choosing the right bbq smoker grills.

?The first thing you need to take into account when buying your own bbq smoker grill is your budget.

You don?t have to buy a super expensive latest and greatest version to get a good smoked flavor. There are plenty of cheaper bbq smokers that work well and will allow you to create smoky barbeque goodness with a wide variety of wood chips. Don?t spend more than you can afford. Shop around and find a bbq smoker that is the right price for you.

You need to decide what kind of features you want your bbq smoker to have. Depending on your price range you may not be able to get some of the more expensive features but most features and additional pieces won?t raise the cost of a smoker very much. If you?re serious about your barbeque then be on the lookout for a bbq smoker that offers a water pan so you can start adding liquid flavors to your meat. If you have the money you may want to get a bbq smoker that doubles as a regular grill.

Do some research and decide what is best for you.

Once you have the right price range and the features you want in mind it?s time to do some actual shopping. Do not buy bbq smoker grills you can?t personally inspect before purchase. Most hardware stores and other retail outlets selling bbq smoker grills will have one of each type of bbq smoker they are selling on display for potential buyers to check out for themselves. If the bbq smoker you are thinking of purchasing is not out on display then ask if there is a return policy or if you can take it out of the box and see the physical item. After inspecting the item for yourself you?re pretty much ready to make a purchase. An educated purchase is always better than a fly by the edge of your seat purchase. Be smart and get the right bbq smoker for you today.

Source: http://www.sanadigerestaurant.com/2012/07/04/choosing-the-right-bbq-smoker-grills/

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Barclays Bank Scandal Unlikely To Taint Brooklyn Nets' Fresh Start

The curse of the naming rights continues. Just as the Brooklyn Nets are about to settle into the brand-new Barclays Center, the bank for which the NBA team's arena is named has plunged into scandal. The British bank has been ordered to pay $450 million in fines for manipulating global interest rates and several executives have resigned.

The Nets are not alone in having their new digs christened by a tainted corporation. The New York Mets moved into Citi Field in 2009 after sponsor Citigroup accepted $45 billion in government bailouts for dropping the ball in the financial crisis. The Houston Astros occupied what was once Enron Field, whose namesake energy company famously cooked its books and fell into bankruptcy.

The good news for the Nets -- and good news was rare before the team's recent move to Brooklyn -- is that any bad association stemming from the Barclays name should pass, PR experts told The Huffington Post on Tuesday.

Marketing maven Peter Shankman said if you asked 30 people in Times Square about the Barclays mess, 29 would have no idea what you're talking about. The Nets likely have a morality clause with Barclays, Shankman added, but the situation is not yet extreme enough to affect general public perception. "If it comes out that the CEO fixed prices while murdering seven orphans, yes, they'll probably want to rename the center," he joked.

Liz Goodgold of Redfire Branding echoed Shankman. "It?s important to remember that this is not front-page news outside of the finance community," she said. "More Americans, for example, are aware and intrigued by the Tom Cruise/Katie Holmes split than in the nuances of this brouhaha."

Ronn Torossian, the CEO of 5WPR public relations who repped former NBA players Allan Houston and Jalen Rose, said the history of the team works in its favor. "I think Brooklyn and the Nets are brands in the process of building together, and the truth is, Barclays isn't really something which can hurt the Nets at this point," he said. "I think on both the NBA totem pole and in New York professional sports, the Nets don't exactly rank very well in terms of brand value or brand awareness, so Barclays won't really make it worse for them."

A representative for the Nets declined to comment Tuesday. Barclays is reportedly paying $200 million over 20 years for the Nets' arena to bear its name.

If the word of some branding wonks can't comfort the NBA franchise, the Nets can always check the history books for naming deals that really went south.

In 2002, the Astros finally were able to rescind Enron's 30-year, $100 million naming deal. The NFL's New England Patriots never got to play in CMGI Field in 2000 because CMGI hit hard times when the dot-com bubble burst and pulled back its $114 million contract before the team's first game. The venue became Gillette Stadium instead. Another dot-com victim, Internet service provider PSINet, sought Chapter 11 bankruptcy after two seasons on the marquee of the Baltimore Ravens' stadium. The Tennesee Titans once played in Adelphia Coliseum in Nashville, but corruption sank Adelphia into bankruptcy and the cable company surrendered its naming rights.

The sports world abounds with teams tied up in naming contracts with companies that are crooked or go belly up. The teams play on. The names of the stadiums often change. There's always another corporation willing to play ball.

But if you're the Mets and Citigroup, you stay together. The franchise continues to receive a reported $20 million a year from Citigroup and the Mets' stadium remains Citi Field to this day.

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Source: http://www.huffingtonpost.com/2012/07/03/barclays-bank-scandal-brooklyn-nets_n_1647221.html

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Galaxy Tab Wallpaper Wednesday - Blue Stream | Galaxy Tabs

This week?s Galaxy Tab wallpaper is called Blue Stream. It was taken by Lowe Rehnberg.

Download Links

Original Galaxy Tab: Click here to download
Galaxy Tab 10.1/8.9: Click here to download

How to add a wallpaper for noobs.

• Click the download link above on your Galaxy Tab
• Longpress on the wallpaper image
• Click set as wallpaper

About Kyle Dornblaser

Kyle Dornblaser has written 512 posts.

My name is Kyle Dornblaser and I love technology. I am into gadgets as well as website development. Combining the two was obvious to me and that is why this website exists today!

Source: http://www.galaxytabs.com/2012/07/wallpaper-wednesday-blue-stream/

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Aegis Missile Defense—a Floating Iron Dome [Video]

While the US Navy is generally immune to IED attacks (the USS Cole tragedy notwithstanding) it must remain vigilant against ballistic missile strikes launched by hostile nations. When that happens, even before the Phalanx system begins to spool up, US warships engage the Aegis BMD—a nearly impenetrable ship-based missile shield. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/sgL1z4xMSfc/aegis-missile-defensea-floating-iron-dome

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Did Elvis have the best rock hair ever?

By Gael Fashingbauer Cooper

Which musician has (or had) the greatest hair? Was it Elvis? slick pompadour? George Clinton?s rainbow extensions? Justin Bieber?s modern moptop?

Depending on when you grew up, you may have been reprimanded by your World War II vet dad for growing out your hair like The Beatles, or for shaving stripes into the sides like Vanilla Ice. Even if you didn't experiment with your own locks, you surely knew what Jules was talking about in "Pulp Fiction" when he called one of the guys in the Big Kahuna burger scene "Flock of Seagulls."

Country artists sported memorable hairdos, too. Has anyone ever pulled off long, long hair better than Crystal Gayle, or managed the braids-on-a-guy look like Willie Nelson?

Take a nostalgic walk down musical memory lane with our slideshow, and vote in our poll as to which musician has the most distinctive hair.

{"contentId":"12523420","totalVotes":"242"}

Which musician or group had/has the most distinctive hair?

Which musician's hair is the most memorable? Tell us on Facebook.

Elvis	? 53.3% (129 votes)
The Beatles	? 22.7% (55 votes)
Flock of Seagulls	? 6.2% (15 votes)
Hair metal bands like Poison	? 3.7% (9 votes)
David Bowie	? 3.7% (9 votes)
George Clinton	? 2.5% (6 votes)
Crystal Gayle	? 2.5% (6 votes)
Cher	? 2.5% (6 votes)
Other	? 2.1% (5 votes)
Justin Bieber	? 0.8% (2 votes)
Vanilla Ice	? 0% (0 votes)

Source: http://todayentertainment.today.msnbc.msn.com/_news/2012/07/02/12523420-did-elvis-have-the-best-rock-hair-ever?lite

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Pregnant Snooki Pushes 30-Pack of Beer Around in Stroller

Pregnant Snooki is preparing hardcore for her impending arrival.

She's quit drinking, she's cut back on partying and she's no longer tanning. She's even getting practice with a stroller ... transporting a 30-pack of Coors Light.

If there were ever a picture worth 1,000 words ...

Sporting hot pink shades, a big brown shirt reading BOSS and her growing baby bump, Snooki looked more or less like her usual strollin' in Seaside Heights, N.J.

The beer was (hopefully) just a joke, or for one of her Jersey Shore cohorts.

"It's different because now I'm not drinking," said the star recently. "Pregnancy made me grow up a lot." Just wait until that little horny baby is born ...

Got a great caption for this amazing Snooki pic? Leave it as a comment below! We'll post our favorite one with the photo tomorrow!

Source: http://www.thehollywoodgossip.com/2012/07/pregnant-snooki-pushes-30-pack-of-beer-around-in-stroller/

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Study links cat litter box to increased suicide risk

A common parasite that can lurk in the cat litter box may cause undetected brain changes in women that make them more prone to suicide, according to an international study.

Scientists have long known that pregnant women infected with the toxoplasma gondii parasite -- spread through cat feces, undercooked meat or unwashed vegetables -- could risk still birth or brain damage if transmitted to an unborn infant.

But a new study of more than 45,000 women in Denmark shows changes in their own brains after being infected by the common parasite.

The study, authored by University of Maryland School of Medicine psychiatrist and suicide neuroimmunology expert Dr. Teodor T. Postolache, was published online today in the Archives of General Psychiatry.

The study found that women infected with T. gondii were one and a half times more likely to attempt suicide than those who were not infected. As the level of antibodies in the blood rose, so did the suicide risk. The relative risk was even higher for violent suicide attempts.

"We can't say with certainty that T. gondii caused the women to try to kill themselves, but we did find a predictive association between the infection and suicide attempts later in life that warrants additional studies," said Postolache, who is director of the university's Mood and Anxiety Program and is a senior consultant on suicide prevention.

"There is still a lot we don't know," he told ABCNews.com. "We need a larger cohort and need a better understanding of the vulnerabilities that certain people have to the parasite."

Suicide is a global public health problem. An estimated 10 million attempt suicide and 1 million are successful, according to Postlache's work.

More than 60 million men, women, and children in the United States carry the toxoplasma parasite, according to the Centers for Disease Control and Prevention, but very few have symptoms.

Toxoplasmosis is considered one of the "neglected parasitic infections," a group of five parasitic diseases that have been targeted by CDC for public health action.

About one-third of the world is exposed to T. gondii, and most never experience symptoms and therefore don't know they have been infected. When humans ingest the parasite, the organism spreads from the intestine to the muscles and the brain.

Previous research on rodents shows that the parasite can reside in multiple brain structures, including the amygdala and the prefrontal cortex, which are responsible for emotional and behavioral regulation.

Rat Study Showed Parasite Changes the Brain

A 2011 study on rats infected by the parasite showed that their fear of cats disappeared. Instead, the parts of their brains associated with sexual arousal were activated. Researchers theorized that the mind-manipulating T. gondii ensures that the parasite will reach and reproduce in the gut of a cat, which it depends upon for its survival.

"The parasite does actually alter the brain of its host," Stanford University study co-author Patrick House told ABCNews.com last year. "The fact that a parasite can get into an organism, target its brain, stay there without killing the host and alter the circuitry of the brain -- we've seen this is insects and fungi, but it's the first time we've seen it in a mammalian host."

It was this and other research that led Postolache to investigate the relationship between the parasite and biological changes in the brain that might lead to suicide. He was also intrigued by studies on allergies and research that showed a connection between toxoplasmosis and schizophrenia.

"I was interested in the neuron aspects of suicide and intrigued by low-grade activation in patients who attempted suicide, as well as victims," he said. "Other studies had looked at the brain and suicide risk and impulsivity. The next question was, what could be the triggers that perpetuate this level of heightened activation in the brain?"

Postolache collaborated with Danish, German and Swedish researchers, using the Danish Cause of Death Register, which logs the causes of all deaths, including suicide. The Danish National Hospital Register was also a source of medical histories on those subjects.

They analyzed data from women who gave birth between 1992 and 1995 and whose babies were screened for T. gondii antibodies. It takes three months for antibodies to develop in babies, so when they were present, it meant their mothers had been infected.

The scientists then cross-checked the death registry to see if these women later killed themselves. They used psychiatric records to rule out women with histories of mental illness.

Postolache said there were limitations to the study and further research is needed, particularly with a larger subject group.

Dr. J. John Mann, a psychiatrist from Columbia University, said Postolache's research mirrors his work in the field of suicidal behavior.

"The relationship of the brain to the immune system is more complex than it may appear," said Mann. "The brain regulates the stress response system, which impacts the immune response."

Scientists already know that steroids like cortisone can affect the immune response. Some antibodies whose goal is to kill off cancer can also affect the brain. Oftentimes the first symptom of pancreatic cancer is depression, he said.

Research also shows that streptococcus bacteria can trigger obsessive-compulsive disorder (OCD) in some children. Sydenham's chorea, the loss of motor control that can occur after acute rheumatic fever, may also be an immune response affecting the brain, according to Mann.

Maryland researcher Postolache suspects that some individuals have a predisposition to these neurological changes.

He speculates that the parasite may disrupt neurological pathways in those who are vulnerable, so that projections of fear and depression from the amygdala are not tempered or controlled by the "braking" function of the prefrontal cortex.

But, Postolache warns that even if a direct cause were found, no antibiotics for T. gondii yet exist and it could be a decade before effective vaccines or other agents that might stop the neurological damage are developed.

Right now, the most effective weapon against T. gondii is education about handwashing, the proper cooking of food, and not using a knife exposed to raw meat on cooked meat.

He also cautions against trendy food production techniques that let animals roam free. "The risk of infection could go up," he said, "and increase the rate of toxoplasmosis."

Also Read

Source: http://gma.yahoo.com/study-links-cat-litter-box-increased-suicide-risk-194116398--abc-news-health.html

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3-D movies linked to increased vision symptoms

ScienceDaily (July 2, 2012) ? Watching 3D movies can "immerse" you in the experience -- but can also lead to visual symptoms and even motion sickness, reports a study -- "Stereoscopic Viewing and Reported Perceived Immersion and Symptoms," in the July issue of Optometry and Vision Science, official journal of the American Academy of Optometry.

The journal is published by Lippincott Williams & Wilkins, a part of Wolters Kluwer Health.

Symptoms related to 3D viewing are affected by where you sit while watching, and even how old you are. "Younger viewers incurred higher immersion but also greater visual and motion sickness symptoms in 3D viewing," according to the authors, led by Shun-nan Yang, PhD, of Pacific University College of Optometry, Forest Grove, Ore. "Both [problems] will be reduced if a farther distance and a wider viewing angle are adopted."

Greater 'Immersion' in 3D Also Associated With Increased Symptoms

The researchers performed experiments in which adults, from young adult to middle-aged, were invited to watch a movie (Cloudy with a Chance of Meatballs) in 2D or 3D while sitting at different angles and distances. Visual and other symptoms were assessed -- including the role of factors including age, seating position, and level of "immersion" in the movie.

Twenty-one percent of participants reported symptoms while watching the movie in 3D, compared to twelve percent with 2D viewing. For younger study participants blurred vision, double vision, dizziness, disorientation, and nausea were all more frequent and severe when watching the movie in 3D.

3D viewing also led to a greater sense of immersion -- "a greater sense of object motion and motion of the viewer in space" -- compared to 2D viewing. Subjects sitting in more central or closer positions reported greater immersion as well as increased symptoms of motion sickness -- that is, nausea. Sitting at an angle to the screen was associated with less immersion as well as reduced motion symptoms.

There were some differences by age, including a lower rate of blurred vision in older viewers (age 46 and older). Older viewers had more visual and motion sickness symptoms in 2D viewing, while younger viewers (age 24 to 34) had more symptoms in 3D viewing. The same age-related changes leading to lower rates of blurred vision in older viewers may also explain their lower rates of symptoms during 3D vision.

As 3D movies become more common, including on home screens, there are reports of visual and other symptoms among 3D viewers. Vision and orientation symptoms related to 3D viewing may be related to a "mismatch" between focusing and converging the eyes. Anthony Adams, OD, PhD, Editor-in-Chief of Optometry and Vision Science notes "the technology for reducing mismatch between where the eyes converge and where they focus is likely to improve rapidly."

The study identifies several factors associated with symptoms during 3D viewing. "3D viewing is quite specific in causing blurred vision and double vision, and the resultant symptoms are greater for younger adults," Dr Yang and colleagues write. 3D produces a greater sense of immersion than 2D viewing, which leads to more symptoms of motion sickness -- especially for younger adults and when viewing from a closer distance and a more direct angle.

The study will help optometrists and other eye care professionals in talking to patients about visual and other symptoms related to today's sophisticated 3D video setups.

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The above story is reprinted from materials provided by Wolters Kluwer Health: Lippincott Williams & Wilkins.

Note: Materials may be edited for content and length. For further information, please contact the source cited above.

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Journal Reference:

1. Shun-nan Yang, Tawny Schlieski, Brent Selmins, Scott C. Cooper, Rina A. Doherty, Philip J. Corriveau, James E. Sheedy. Stereoscopic Viewing and Reported Perceived Immersion and Symptoms. Optometry and Vision Science, 2012; 89 (7): 1068 DOI: 10.1097/OPX.0b013e31825da430

Note: If no author is given, the source is cited instead.

Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://www.sciencedaily.com/releases/2012/07/120702132942.htm

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Rusty memories rejuvenated in elderly mice

Forgetfulness that accompanies the march of time may be reversible ? in mice at least. Elderly mice have had their faltering memories restored after receiving extra amounts of an enzyme that switches genes on or off in the brain.

"We found they performed just like young animals," says Hilmar Bading of the University of Heidelberg in Germany.

He and his colleagues injected a virus directly into the brain's hippocampus ? an area responsible for memory. The virus contained extra copies of a gene that makes an enzyme called DNA methyltransferase (Dnmt3a2). This enzyme alters gene activity through methylation, the addition of chemical methyl groups to DNA.

The team then gave the mice a series of memory tasks. They were presented with a pair of objects, then a day later they were presented with the same set-up but with one object moved to a new position. Because young mice remember the original positions of the objects, they spent more time investigating the one that had been moved. Elderly mice generally spent the same amount of time on each.

When elderly mice were given the virus, they matched the young mice in the task, spending 70 per cent of their time investigating the moved object.

When the researchers used similar techniques to halve the amount of Dnmt3a2 that young mice produce, their performance deteriorated to that of non-treated elderly mice. "Clearly, if you have too little of the enzyme, your memory works less well," says Bading.

As yet, there is no drug that could boost levels of Dnmt3a2 in the human brain, but Bading says that more of it gets made naturally when the brain is active.

So while his team intend to investigate possible memory-enhancing treatments, his advice to people as they age is to keep their brains and bodies as active as possible.

Journal reference: Nature Neuroscience, DOI: 10.1038/nn.3151

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Intelligent Mobile phone Marketing Techniques For Your Company ...

Mobile phone advertising and marketing is a enterprise promotion tool that may be utilizing the planet by hurricane. By utilizing it, organizations can advertise their products from all over the world by merely sending their ads to smart phones like cell phones. For information on how to utilize mobile phone marketing and advertising, read through the following tips.

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If you are intending being employing a QR computer code, you want to be sure to keep that impression very simple to scan. Men and women will not take the time to physique it. You can use a free of charge QR rule generator on the internet that can also keep an eye on how lots of people are scanning your appearance.

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If you are marketing a selected occasion, send the cellular marketing meaning several hours or maybe the working day prior to the celebration. Buyers which are sincerely intrigued in the case can certainly neglect the message in the event you give it several days prior to the celebration is to happen. You do not want your buyers to overlook anything.

The quickest growing category with mobile browsers and mobile programs are social networking web sites. So organization must accept social networking and go where individuals are. Portable advertising good results will depend with your small business building a appearance about the social media sites and using it properly to cultivate your small business.

Provide check in bargains and discounts at your brick and mortar store. This encourages people to ?check in? when visiting where you are, and increases your contact with their family and friends. Some companies have witnessed a tremendous rise in targeted traffic simply by using this phase. An application like Foursquare can help with this.

Make activity customer-helpful for those models and makes! Many of the new mobile phones can be tough to navigate. Create your mobile advertising and marketing communications simple to understand. Although some customers might be observing your posts from mobile devices, pc tablets, and notebook computers, other folks might be employing a effectively out dated cell phone with minimal abilities for motion within your advertising communications. Style your advertising and marketing to achieve a variety of buyers!

Question clients for mobile phone amounts. The best way to do this is to use your present electronic mail customers. Once they submit the shape to join, you may ask them to add their telephone numbers in, for almost any warnings or special offers. This really is a quick approach to achieving new customers for mobile marketing.

In summary, mobile phone advertising and marketing is excellent in you could definitely concentrate and cater to your viewers in ways which can be just unavailable in other types of marketing. Inside the greatest circumstance, it will be possible to accept the guidance with this report and use it to shape the best advertising and marketing plan that you can.

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Source: http://www.wisedir.com/intelligent-mobile-phone-marketing-techniques-for-your-company?utm_source=rss&utm_medium=rss&utm_campaign=intelligent-mobile-phone-marketing-techniques-for-your-company

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Powerbroker Ozawa 'leaves Japan ruling party'

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Source: http://news.yahoo.com/powerbroker-ozawa-leaves-japans-ruling-party-043354572.html

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Pebble smartwatch outs SDK preview at Google I/O, gives developers a kickstart on apps

If you invested in the Pebble e-paper smartwatch -- and who didn't? -- you'll be happy to hear that the firm has unleashed a preview of the Kickstarter darling's SDK at Google I/O this week. That'll give developers a head start on creating apps for the ARM-powered e-paper device, allowing them to learn exactly how it receives data from Mountain View's robot OS. The company said the new kit supports multiple program languages to boot, allowing developers of all skill levels to create Pebble-enabled apps. The document is still a work in progress, of course, but advances like this should help keep it from getting trampled by the cavalcade of smart wrist devices now coming out. Check the source link if you want to grab it.

Pebble smartwatch outs SDK preview at Google I/O, gives developers a kickstart on apps originally appeared on Engadget on Sat, 30 Jun 2012 15:56:00 EDT. Please see our terms for use of feeds.

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Source: http://www.engadget.com/2012/06/30/pebble-smartwatch-sdk-preview-google-i-o/

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MyReviewsNow.net Adds DIY Home Improvement Affiliate Partner ...

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Source: http://backlinks.typepad.com/buy/2012/06/myreviewsnownet-adds-diy-home-improvement-affiliate-partner-2.html

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Oil soars 9 pct as Europe moves to tackle crisis

A man moves a fuel hose into position to begin loading gasoline into a tanker truck, Friday, June 29, 2012, at a North Little Rock, Ark., fuel distribution terminal. Oil soared the most in more than three years, on Friday, after European leaders took surprisingly aggressive steps meant to halt a debt crisis that has undermined the regional economy. (AP Photo/Danny Johnston)

A man moves a fuel hose into position to begin loading gasoline into a tanker truck, Friday, June 29, 2012, at a North Little Rock, Ark., fuel distribution terminal. Oil soared the most in more than three years, on Friday, after European leaders took surprisingly aggressive steps meant to halt a debt crisis that has undermined the regional economy. (AP Photo/Danny Johnston)

A man walks from a gasoline tanker truck at a North Little Rock, Ark., fuel distribution terminal, Friday, June 29, 2012. Oil soared the most in more than three years, on Friday, after European leaders took surprisingly aggressive steps meant to halt a debt crisis that has undermined the regional economy. (AP Photo/Danny Johnston)

NEW YORK (AP) ? Oil soared the most in more than three years after European leaders took surprisingly aggressive steps to halt a debt crisis that has undermined confidence in the global economy.

Benchmark U.S. crude jumped by $7.27, or 9.4 percent, on Friday to end the week at $84.96 per barrel in New York. Brent crude, which helps set the price of imported oil, rose by $6.44, or 7 percent, to $95.51 per barrel in London.

The surge could end a nearly three-month decline in U.S. gasoline prices. The national average for gas had declined from $3.94 per gallon in the first week of April to $3.35 on Friday.

Oil rose after eurozone leaders unveiled a plan to rescue ailing banks, relieve debt-burdened governments in Italy, Spain and elsewhere and restore the confidence of markets. The progress in dealing with Europe's lengthy debt crisis is good news for that continent's ? and the world's ? economy. Economic growth drives energy consumption.

The deal was struck as borrowing rates in Spain and Italy surged to levels that were considered unsustainable. Leery investors were surprised and energized by the breakthrough ? they rushed to buy riskier assets like oil and stocks and sold ultra-safe U.S. Treasuries. Stock in the U.S. rose more than 2 percent, while European stock markets posted even loftier gains.

"All of a sudden we're not worried about the Spanish and Italian banks going bankrupt over the weekend," said Phil Flynn, an oil analyst with Price Group.

U.S. drivers might not share in oil traders' relief. Tom Kloza, publisher and chief oil analyst at Oil Price Information Service, said gasoline should get a little more expensive next week as stations price in the jump in oil, which accounts for two-thirds of the cost of a gallon of gas.

Oil plunged around 25 percent from May 1 through Thursday. At $3.35 per gallon, the national average was the lowest since Jan. 6, according to auto club AAA, Wright Express and OPIS. Gas could still fall a few cents over the weekend ? pump prices usually lag the action in the markets.

"That's probably the bottom until after Labor Day," Kloza said. He expects the average to waver between $3.30 and $3.50 per gallon for the rest of the summer.

Friday's percentage rise in benchmark U.S. crude was the biggest since March 12, 2009. The dollar gain was the largest since Sept. 22, 2008.

Oil added to its ded stronger c The crisis its gains in the afternoon on reports that Norway's Statoil shut down production of another platform in the North Sea due to a tanker leak. Statoil previously said that daily production will fall 10 percent after oil workers went on strike at four North Sea fields.

North Sea oil supplies much of Europe. The loss of production will squeeze stockpiles just as Europe prepares to stop buying Iranian oil on Sunday. Europe announced an embargo earlier this year in an effort to pressure Iran to open its nuclear facilities to inspection. Western nations fear that Iran is building a nuclear weapon; Iran denies the claim.

International sanctions already have cut Iranian exports by about 700,000 barrels per day. Experts said it's unclear how much more of Iran's oil will be taken off the market once the embargo goes into effect. But a further reduction in global supply could cause oil prices to rise.

Friday's rise in oil prices boosted shares for major petroleum companies, trimming some of their losses for the quarter. On Friday, shares of BP jumped 4.7 percent, Apache Corp. rose by 2.3 percent, Exxon Mobil Corp. jumped 2.2 percent and Chevron Corp. rose by 1.4 percent.

In other futures trading, heating oil added 14.41 cents, about 6 percent, to finish at $2.696 per gallon and wholesale gasoline added 11.3 cents, or nearly 5 percent, to end at $2.7272 per gallon. Natural gas rose by 10.2 cents, nearly 4 percent, to finish the week at $2.824 per 1,000 cubic feet.

___

Follow Chris Kahn on Twitter at http://twitter.com/ChrisKahnAP

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-06-29-Oil%20Prices/id-f10222a4538d4a1f9e3ab65bea77ba10

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