Category Archives: Oil Prices

Questionable Journalism

They build a strong case here. I’m not impressed with CNN’s reporting.  Pretty strong arguments against Ali Velshi here.

CNN’s Velshi Pimping Dirty ‘Oil Sands’ Boondoggle

CNN’s senior business correspondent, Ali Velshi, is a one-man public relations team for the polluters that advertise on his network. In response to rising energy prices, Velshi has spent months promoting the Nazi-era technology of liquid coal. On CNN’s American Morning, Ali Velshi previewed his weeklong tribute to another disastrous and dirty boondoggle, the Alberta [...]

Another McCain-ism

Hate to play “gotcha” so frequently with Mr. McCain, but he’s certainly giving us ample opportunity to do so.

Can McCain Find A Single Economist To Back His Claim That Offshore Drilling Will Lower Gas Prices?

Our guest blogger is Adam Jentleson, the Communications and Outreach Director for the Hyde Park Project at the Center for American Progress Action Fund. The government’s official source for energy statistics says that offshore drilling will not have a “significant impact” on gas prices until 2030. McCain’s own campaign admits that offshore drilling will have [...]

Friends In High Places

It’s only natural to take advantage of business and personal relationships. We all do it.  Still, it’s just not right when deals like this one come together.

Iraq, and Big Oil, and no-bid contracts … oh my

Dear Iraq, sorry the war hasn’t gone well. But now that the surge is wrapping up, we hope you won’t mind that we need several dozen permanent bases in your country. Oh, and did we mention that we’ll need you to approve some no-bid contracts for our oil companies, too? After all, what’s a few [...]

Drilling For Oil

At first, I was beginning to go along with the President’s oil drilling idea, unveiled this morning. I was figuring we really do need to go looking for every little  bit of crude oil we might have hidden away under American soil or water.  I can’t avoid looking at the signs at every gas station I drive by, I guess it’s the same thing as looking at a car crash or a train wreck.  Who would have thought that we’d be seeing $4 a gallon gas? Somebody, somewhere, should have seen this coming.  And something should have been done to ward it off. But, there was no anticipation, no planning, no changes.   And, here we are, talking about something that, apparently, isn’t going to make a bit of a difference.

Bush Disagrees With His Own Energy Dept, Claims Drilling In Arctic Refuge Will ‘Bring Enormous Benefits’

This morning in the White House Rose Garden, President Bush called on Congress to “pass good legislation as soon as possible” that would lift the federal ban on exploring the Outer Continental Shelf (OCS) and allow states to permit offshore oil drilling. Bush said in order to relieve the “painful level” of gas prices, “our [...]

Guess What THIS Means…

Saudi Arabia laughed at George Bush’s request to produce more oil today. Looks like he developed a really great relationship with them over the years. It’s paying off well, just when we need it most.

Oh, even before that word came out, oil prices set a new record. We’re getting awfully close to $4.00 a gallon gas around here.  That’s going to be a jumping off point for a lot of folks.

Oil climbs to record above $127 a barrel

U.S. energy risk management firm Cameron Hanover says “everything the market looks at is bullish” and predicts greater volatility [...]

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Millions May Starve

If that doesn’t get your attention, I don’t know what will.

Major World Hunger Crisis

We get tunnel vision on superdelegates and stump speeches and credentials committees, all of which have their own level of importance. When I see a headline that millions are in danger of starvation I stop thinking about all that and pay attention. “Meteoric food and fuel prices, a slumping dollar, the demand for biofuels and a string of [...]

Outrageous Quote of the Weekend

At least I hope it’s outrageous. Talk about your scare tactic…

Rove: Iraq Redeployment Would Cause Oil Prices To Skyrocket To $200 A Barrel

This morning on Fox News Sunday, former White House adviser Karl Rove claimed that redeployment from Iraq would cause oil prices to shoot to $200 a barrel: If we were to give up Iraq with the third largest oil reserves in the world to the control of an Al Qaida regime or to the control of [...]

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This Explains It

I wondered, as I drove by a neighborhood gas station, why they didn’t have any prices posted. Probably because they couldn’t keep up with the changes.

Oil closes above $100

Dick Cheney isn’t just smiling, he’s probably bouncing off the ceiling he’s so happy. Tough luck if you have to work and pay for gas. Oil closes above $100 for the first time ever. Meanwhile [...]

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Election Day Economy

If you’re not already glued to the TV or computer, watching election returns and analysis, here’s something worth spending a few minutes on. Our economy, after all, is pretty much tanking. Here’s why. You can probably guess the starting point…

Barrelling into recession

Cheap oil and the quest for the American Dream house blew up in our faces. It’s explained in Something Had to Give How Oil Burst the American Bubble By Michael T. Klare “Over the past decade, this country has squandered approximately one and a half trillion dollars on imported oil, much of which has been poured down the tanks of grotesquely fuel-inefficient vehicles that were conveying drivers [...]

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Too Little, Too Late?

It all depends. It’s nice to see Clinton step to the forefront with an issue that could help separate her from the other candidates. As you know, I have a hard time buying into the theories that she’s going to skip Nevada and South Carolina. And, I certainly don’t think she’s going to call it quits before Super Tuesday.

So, speeches like this one could have some legs.

Hillary Going After Oil Companies in NH

Under pressure from both Obama and Edwards Sen. Clinton is letting her inner populist loose. Check out this video from the NY Times of her speaking out about the stranglehold that the oil companies have on pricing power. Jerome has blogged before about the huge scandals at Bush’s Dept of the Interior not collecting the royalties the public is owed by the oil companies for petroleum taken from public lands. I’d like to see [...]

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Oil Prices Today

I knew I should have gassed up earlier this week. Look where crude oil prices went today..

$100

…It’s obviously no surprise to regular readers of this space. The weather in the North Sea must have been terrible for the past half-decade, eh? In a perfect world, or at least one in which accountability mattered, Ben Bernanke, Hank Paulson, and certainly Alan Greenspan would be yanked in front of Congress immediately, put under some hot lights for a few days, and asked the following: [...]

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Tin-Foil Hat Time

Okay, conspiracy buffs.  Dig into this one.  The scary thing is, it kind of makes sense. It really does.

Oil Traders Seize Control of World Oil Prices

A shadowy cabal of international “oil traders” have seized control of the world’s markets and the price of oil. That’s not the opinion of a crazed “conspiracy theorist”. It is the informed opinion of an expert market analyst interviewed by the prestigious Foreign Policy magazine. As oil reached $100 recently, [...]

By the way, crude oil fell $3.00 today.  That will be reflected at the pump, when?