Oil and grains soar, CRB nears record
Crude oil prices set a record high Tuesday on fears that top exporter Saudi Arabia was vulnerable to terror attacks while soaring grain prices also pushed commodity price indexes back toward multiyear highs.
Oil
Canada: Investigating phantom barrels in the oil sands
Western Oil Sands Inc. chopped 15 million barrels from the estimated reserves for its part of the Athabasca Oil Sands Project, while its partner Shell Canada Ltd. made no change at all. It all comes down to reporting, and those exempt from NI 51-101 have the advantage
US Navy to Deploy Aircraft Carrier Strike Group in Gulf of
Defense officials have recently spoken of the need for security and stability in the Gulf of Guinea, in part because of the growing number of offshore oil operations there.
Oil shock puts spotlight back on renewable energy — but for how long?
MIDDLE EAST CRISIS SPURS OIL PRICES… WORRIES DEEPEN OVER WORLD OIL RESERVES… WIND AND SUN: THE ENERGIES OF THE FUTURE. Sound familiar? Those are headlines from 1974, yet they might just as well have come from newspapers today.
China’s growing appetite for oil
The country’s oil consumption has doubled in the past decade, and China last year surpassed Japan as the world’s second-largest user of petroleum — consuming about 6 million barrels a day.
Saudi attacks upset oil nerves
Terrorist attacks in Saudi Arabia yesterday prompted fresh oil price jitters before this week’s crucial meeting of OPEC oil producers aimed at increasing production.
Russia promises to increase oil exports, questions remain
Russian Finance Minister Alexei Kudrin promised to boost oil exports if world prices remain high. The promise comes just days after reports that Russia does not have the infrastructure to increase production.
Relationship of oil, stocks leads to ugly truths
One message is very clear: When oil prices rise, stock prices tend to fall. When oil prices sink, stock prices tend to rise.
Bush was sure that Iraq’s oil reserves would be flowing again by now … Another big mistake
IN July 2002, the Pentagon’s Defence Policy Board was given a briefing by Laurent Murawiec of the Rand Institute. The advisory group of intellectuals and government officials heard Saudi Arabia described as the enemy of the United States. The Saudis were the “kernel of evil, the prime mover, the most dangerous opponent”.
Terrorism concern spurs oil price rise
Al-Qaeda-linked militants killed at least nine Saudis and seven foreigners in a string of attacks in an oil-industry city Saturday, then took hostages and fled with security forces in hot pursuit.
Oil
It powers the world’s economies … but unrest in Saudi is fuelling fears it could also destroy them
Maybe it’s time to panic about gas
Breaking the $2-a-gallon gasoline price barrier was unpleasant, and your lightened wallet may be eliciting visions of Nixon-era rationing and fill-up lines beyond the horizon, but geologists and economists think the industry and the economy will be just fine. Gas is cheap, they say, when you consider the rising costs of everything else. But another consensus has emerged among the experts: This might be a good time to panic anyway.
