Japanese Earthquake: What will it mean for US Gas Prices?

David Fessler submits:Big surprise: They’re up and heading higher. Nationally, gasoline prices – which averaged $2.76 last summer – are forecast to be at least $1.10 higher this summer, as the U.S. Energy Information Administration (EIA) predicts a vacation-dampening average of $3.86 per gallon.

The earthquake and tsunami that ravaged Japan Friday will likely have a short-term effect on the global economy, shutting down Japanese factories, ports and oil refineries, but it won't derail the economic recovery, observers say.

CALGARY — Pipeline firm AltaGas Ltd.  and a Japanese company have formed a partnership to explore shipping liquefied gas across the Pacific to Asian markets clamouring for new energy supplies. The Calgary-based company and Idemitsu Kosan Co. Ltd., a major petrochemical and refining firm, will each own half of the partnership, which envisions transporting both liquefied petroleum gas and liquefied natural gas overseas.

ContributorNetwork - "Made in Japan" is a phrase commonly seen on American electronic products. The recent earthquake in Japan has made the Japanese economy falter -- debt spending will have to rise in order for countries to deal with the massive devastation caused by the tremors.

HiddenLevers submits: By Sifisio Takirambudde

ContributorNetwork - "Made in Japan" is a phrase commonly seen on American electronic products. The recent earthquake in Japan has made the Japanese economy falter -- debt spending will have to rise in order for countries to deal with the massive devastation caused by the tremors.

Equitymaster submits: After opening below the dotted line, the Indian stock market indices witnessed some momentum in the morning session. However, with the earthquake in Japan and sustained worries over crude and food prices, stocks moved further into negative territory. While the BSE-Sensex closed 154 points lower (a 0.8% decline), the NSE-Nifty closed lower by 49 points (down 0.9%). The BSE Midcap and the BSE Small cap indices, however were worse off. They were both trading over 1% lower.