The recent rise in oil prices and subsequent increase to near $4 per gallon for regular unleaded gasoline is likely to negatively impact consumer confidence and retail sales. The below chart shows the negative influence increasing gasoline prices (inverted on chart) has on consumer confidence...

LINDON, UT and EDMONTON, AB - (Investorideas.com Energy Newswire) - Oil and Gas News - Profire Energy, Inc. (OTC.BB: PFIE) reported net income before income taxes for the quarter ending December 31, 2011 of $1,245,322 on total revenues of $5,068,983.

While many people are rejoicing over the recent inflation rally they may want to look at the price of gasoline. The United States Gasoline Fund (NYSEARCA:UGA) has surged higher with the stock market since December 19, 2011. At that time, the UGA was trading as low as $45.17 a share. This morning, the UGA is trading at $54.53 a share. That is a gain of $9.36 a share in just eight weeks.

Nearly two years after the worst accidental offshore oil spill in the history of the energy industry, some of the biggest companies in the world are busy pointing their legal fingers at one another in court over who has to pay what in claims, damages and fines over the deadly Deepwater Horizon oil spill.