We’ll be looking at $50 oil, and likely by next winter.
The US presidential candidates don’t have workable plans and things will only get worse.
Japan: Crude oil prices bode ill for economy
As crude oil prices soar to their highest levels ever, costs of related products and services such as petrochemical products and international airfare are being yanked up along with them, threatening economic growth.
Oil supply threatens world economy
Fears that the world economy could be derailed by higher energy costs intensified on Wednesday night after the price of oil set fresh records on both sides of the Atlantic.
World Bank agrees to continue oil, gas lending
The World Bank this week agreed to continue making investments in oil, gas and mining, setting aside an independent review’s recommendations that it phase out lending for such projects.
Yamani: Speculators driving oil surge
Saudi Arabia’s Sheikh Ahmed Zaki Yamani — the face of the OPEC oil cartel during the 1970s oil price shocks — says this time it is big-money speculators to blame for surging prices and confidently predicts the scare will not last.
Fuel stocks adequate, PERTAMINA assures Indonesians
State-owned oil company Pertamina has assured Indonesians that the local fuel supply will remain safe despite the soaring price of oil on global markets.
Japan and Iran: Partners in Oil
The United States is attempting to convince Japan to ditch Iran as an oil supplier in favor of Libya. Though such an arrangement would greatly assist U.S. strategic aims in the Middle East, it would make sense to Japan only if Iran were plunged into war.
No easy fix for our Saudi oil habit
If production in the desert kingdom has in fact peaked, as some experts say, the alternatives aren’t easy, if they exist at all.
California’s SUV Ban
Cities throughout California—the nation’s largest car market—prohibit the heaviest SUVs on many of their residential roads. The problem is, they don’t seem to know they’ve done it.
Another View on Oil
Cal Tech professor David Goodstein says the worldwide peak for production could be reached in 10 years or less resulting in severe inflation and economic ruin.
Morgan Stanley cuts European oil sector
Morgan Stanley on Wednesday cut its weighting on the European oil sector to “neutral”, saying sky-high prices could fall by $15-$20 a barrel in a short time.
Iraq surveys its oil fields as prices keep bubbling
The Iraq Oil Ministry is undertaking the most comprehensive evaluation ever of the giant oil fields that are the country’s biggest natural resource, an important first step toward understanding the potential output of the fields and estimating the amount of investment needed.
