As unrest in the Middle East shows little sign of cooling, the price of a barrel of oil continues to climb, raising transportation and heating costs in turn.
Worried about the impact of oil price on the US? Be far more worried with what happens to Europe as the continent grinds to a halt.
The report -- by the consulting firm Northern Economics and the University of Alaska-Anchorage’s Institute of Social and Economic Research -- says that developing Alaska’s OCS could produce almost 10 billion barrels of oil and 15 trillion cubic feet
Reuters reports that formerly peaceful Kuwait has just joined the ranks of demonstrators, demanding the resignation of the prime minister in a peaceful protest early in the day, with a larger one expected later in the day:
Dear Freedom's Phoenix: May I please submit that "peak oil", the world is running out of it is a big fat lie on the propagandic level of Reefer Madness.. The 1st link is rather long & in 2 parts.. The 'good part' is abouRead Letter
The broad strategic objectives underlying the proposed invasion are not mentioned by the media. Following a deceitful media campaign, where news was literally fabricated without reporting on what was actually happening on the ground...
To George Will: If you think the action in the streets will be limited to these sandy outlands seven thousand miles away, then your last thoughts will not be comforting when the zombies you helped to create turn up slavering in your driveway.
Currency debasement on a scale never seen before in modern history continues in the U.S. and other countries. This is leading to a real risk of stagflation and possible even hyperinflation if sane monetary policies are not returned to soon.
It is one of those days when the flight to new reserve currency is on, with gold and silver trading near overnight highs, same for the oil complex...
Crude oil prices rose to 2-1/2 year highs on Monday on heightened worries about supply disruption due to deepening unrest in Libya, while Asian stocks slipped as concerns about the Middle East and higher energy prices weighed on equities.
There is little certainty about the exact price point oil needs to hit for the housing market to see an impact, but previous history suggests it is certain to start to feel the pinch more and more as gas prices rise.
"White House Chief of Staff Bill Daley said on Sunday the Obama administration is considering tapping into the U.S. strategic oil reserve as one way to help ease soaring oil prices."
Prices have already surged 38 cents a gallon in metro Detroit since President’s Day and likely will jump again by early next week as crude oil prices shot up nearly $3 Friday to $104.63 a barrel.
Again, that would be -- will be? -- the very point of any type of Western military intervention in Libya: to kill a popular, democratic movement that is at present beyond the control of the imperial militarists along the Potomac.
How much this latest bout of totalitarian market control (so welcome by market overlords such as Larry Fink) and centrallized planning calms people ahead of next week's days of rage is unknown. After all Saudi Arabia is quite a few months behind...
The US/European/Israeli nexus seeks to dislodge state-ownership – to whatever extent it actually exists – and dislodge any Chinese workers or companies involved in the oil exploitation, and replace these with western companies and western...
Americans always need a bogeyman to blame for their mindless decisions and willingness to be led to slaughter by corrupt politicians. Big oil companies do benefit from higher oil prices. Big oil companies spend millions buying off Congressmen.
The biggest crises of modern days has so far been the Yom Kippur War with a total loss of 5 million mmb/d resulting in a 350% increase in the price of oil 6 months following, should the Libyan crisis escalate and impact even half of Saudi production.
"And energy is what keeps this game going. We are involved in a Faustian bargain—selling our economic souls for the luxurious life of the moment, but sooner or later the price has to be paid...sucking on an empty straw!"
Did anyone out there anticipate that 2011 would be such a wild year? The year is barely over two months old and we have already seen multiple civil wars erupt, rumors of more wars all over the mainstream media (potentially even including the US)...
In a not so surprising turn of events, adverse Libyan newsflow has picked up just as expected, with Reuters reporting that the Oil facility at Zueitina, south of Benghazi, is now damaged and oil wells are now on fire, and that a Libyan rebel convoy i
Many investors are simply examining the short term attractiveness of a cheap price and forgetting that they are buying in a desert community that relies heavily on cheap oil. Cheap oil is now a thing of the past.
According to Dan Nocera, the Future is "Really not that Bad". If you take his advice, that is... (which he says you won't).Entered By: Ed Vallejo
Yes, it's the oil. But not just any oil. A quick look at Wikipedia shows why Libya's oil is worth more than oil anywhere else, and how much they got.
The shock from higher oil prices can have some near term impacts but it also works with a lag of about a year. For instance, he points out that the personal saving rate typically declines as consumers respond to gasoline price spikes.
Think of it as fuel for a fuel cell; just add water.
The Middle East protests have fueled more than just a change in Democracy; it looks like these political outbursts will affect the gas pump as well.
Why are American's paying more than $1.00 a gallon for gasoline? The U.S. has been importing oil to meet the demands of the American consumer for decades. Trillions of dollars in wealth has been drained from the American economy to purchase foreign
Charming fellow that he is, his fecklessness in the face of disintegrating oil markets will go down in history as something like Nero's musical solo while Rome burned down.
"The cheap oil age created an artificial bubble of plentitude for a period not much longer than a human lifetime....so I hazard to assert that as oil ceases to be cheap and the world moves toward depletion....We are SO unprepared for our future."