Transcript of Greenspan’s Speech on Oil

Elevated long-term oil futures prices, if sustained at current levels or higher, would no doubt alter the extent of, and manner in which, the world consumes oil. Much of the capital infrastructure of the United States and elsewhere was built in anticipation of lower real oil prices than currently prevail or are anticipated for the future. Unless oil prices fall back, some of the more oil-intensive parts of our capital stock would lose part of their competitive edge and presumably be displaced…

Moscow Beijing breakthrough

It will be no exaggeration to say that even many privy to the preparations for a Beijing meeting between the leaders of Russia and China, Vladimir Putin and Hu Jintao, were surprised at the number of agreements reached as a result of the laborious and long homework done by various departments.

Bush talks about Peak Oil at luncheon

Someone asked Bush what he’s going to do about energy policy with worldwide oil reserves predicted to peak. Bush said: “I’m going to push nuclear energy, drilling in Alaska and clean coal. Some nuclear-fusion technologies are interesting.” He mentions energy from “processing corn.”

Oil’s slippery slope

If someone sitting in air-conditioned comfort in one part of the world believes that what happens in Iraq or Nigeria, Venezuela or Colombia doesn’t affect him or her, Sonia Shah’s Crude: The Story of Oil takes that little daydream and shakes it up.

Recession clouds gather on the horizon

Recession is something rarely announced by politicians – it does not sound too good. And elections are often based on economic well-being, so to tell the nation that a recession is here, or coming, does not bode well for those in office.