Business News
CLEARLAKE OAKS – This week Lake County’s Shannon Ridge Vineyards & Winery received notification from the Orange County Wine Society and the California State Fair of 3 “Gold Medal” awards including a “Four Star Gold” and two “Best of Class” awards.
At the California State Fair commercial wine competition Shannon Ridge’s second label, Cross Springs, 2008 Chardonnay received Gold and “Best of Class” for the north coast appellations with a 95 point rating from the panel of expert media and wine industry judges.
Also awarded was a 91 point “Silver Medal” for the Cross Springs Sauvignon Blanc, which also received a “Best of Class” for the north coast appellations.
The Orange County Fair judges also gave Shannon Ridge top honors. The 2008 Petite Sirah received a “Four Star Gold”. Only 30 wines out of the competitions 2,918 entries were given this award.
Of the 242 “Gold Medals” awarded, the Reserve 2008 Rousanne from Shannon Ridge’s “Single Vineyard Collection” was the recipient of one.
Shannon Ridge wines are made by veteran Lake County winemaker Mike Wood. Wood’s own Petite Sirah under his Shed Horn Cellars brand also won “Gold” at the Orange County Fair. Shannon Ridge uses all Lake County grown grapes for the many different award winning wines they produce.
The two ranches owned by the Shannon family in the High Valley and Red Hills Viticulture Areas of Lake County are farmed using only sustainable farming practices.
Since proprietors Clay and Margarita Shannon founded the Shannon Ridge in 2001, the winery has received over two dozen “Gold Medal” or higher honors at the country’s best wine competitions. They have also seen many 90+ point ratings from the nation’s top wine critics.
According to the Gomberg-Fredrickson report (the executive marketing report of the wine industry) Shannon Ridge is one of California’s fastest growing brands from 2008-2010 with over 100 percent growth in that time period.
For more information about Shannon Ridge, visit www.shannonridge.com or call 707-998-9656.
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NORTHERN CALIFORNIA – California drivers are seeing gas prices drop or stabilize despite the continuing oil spill in the Gulf of Mexico.
The latest report from AAA Northern California shows, out of 25 metro areas where AAA tracks gas prices, all but three have seen decreases in their average prices compared to AAA’s last survey on May 11.
“The leaking oil in the Gulf is coming from an exploratory well operation, meaning the oil itself is not immediately being counted on in the markets, so it has not impacted the price at the pump,” said AAA Northern California spokesperson Matt Skryja. “Economic concerns, particularly in Europe, along with unemployment data, low demand, and high oil reserves are helping to keep the prices low.”
California’s average gas price is the third highest among all 50 states according to the latest report from AAA, which tracks gasoline prices as a service to consumers.
The Golden State’s average for a gallon of regular, unleaded gasoline is $3.08, down seven cents since last month’s report. For perspective, that’s 17 cents more than California’s average price on this date last year, when it was $2.91.
Northern California gas prices are now averaging $3.09, down seven cents from last month.
In the San Francisco Bay Area, motorists can expect to pay an average price of $3.19, which is a three-cent drop. The national average price of $2.72 is down by 18 cents, which is 10 cents more than the national price on this date last year, when it was $2.62.
In discussing the oil market, much of the focus remains on the biggest oil disaster in U.S. history at the Deepwater Horizon drilling site.
The Obama administration recently put a hold on any new deepwater exploratory drilling in the U.S. for six months.
The spill continues to be very much on the minds of investors. Although AAA believes oil prices should not be affected in the short term, the drilling moratorium’s potential long term impact on supply will likely be heavily considered by investors, as they evaluate oil as an investment.
California does not get any of its oil supply from the Gulf region, so any impact to the state’s pump price down the road would potentially be linked to the moratorium, not the spill itself.
The least expensive average price in Northern California can be found in Marysville where unleaded is $2.94.
Of all the metro areas in Northern California where gas prices are tracked by AAA, South Lake Tahoe and Eureka’s average prices of $3.25 are the highest. It’s also the highest price in the lower 48 states.
The least expensive gasoline in the country is found in St. Joseph, Missouri, where the average price of gas is $2.38.
Wailuku, Hawaii, holds the dubious crown for the highest average price in the nation, at $3.85 per gallon.
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