Earlier this week the Associated Press grappled with the issue of whether or not the current economic downturn has reached the point that it can be called a depression.
Events are moving faster all the time. Some are highly visible such as the falling stock markets, the steadily rising unemployment numbers and the drumbeat of global gloom and doom emanating from the media.
Someday peak oil will be about high gas prices and lines at the pumps, but for the time being it is mostly about numbers – lots and lots of numbers.
If you don’t understand what is going on with the price of gasoline and demand for the world’s oil supply, then join the club.
For weeks now the stock markets and commodity prices have been falling. Oil is currently trading around $76 a barrel which is close to a 50 percent drop since the middle of July.
For those of you who came in late, it might be useful to recall that 35 years ago marginal world oil production (and therefore prices) was controlled by the Texas Railroad Commission. In those days, most oil production in the U.S. was hauled off by trains so by mandating how […]
You have to be quiet… and listen very carefully, for our government is trying to tell us something. If the news were good, of course, the White House would announce it at the daily press conference. If the news were very good, the President himself might come out into the […]
On Monday, our colleagues over at the Washington Post ran a front-page story in an effort to explain to official Washington why oil prices have soared by $25 a barrel in the last ten weeks and just what it might mean.
When the Wall Street Journal runs a story entitled “Oil Prices Could Go Either Way,” you can be sure there is confusion in the land. In preparing the story, the Journal’s reporter called the usual array of Wall Street energy gurus and got sharply mixed responses. Some thought oil prices […]
On Tuesday, Oil Ministers from the OPEC countries gathered in Vienna to decide on production levels. It turned out one of the more remarkable meetings that OPEC has held in recent years.