Think the idea that gas and oil prices have been driven down in advance of the election is exclusively the province of lefty liberal bloggers? Check out this piece on New York Global Securities Analyst Phillip Miller’s investment advice on oil – buy now, because the price is going back up after midterms. Miller said, … Read More
Oil Price
Why is the Oil Price Falling?
Something strange is happening. Have you noticed it? The gas price is falling. The news that the price of crude oil dipped below $60 dollars has sparked a furious response as to why it is happening. Some are arguing that the price of oil has dipped due to political pressure from the Bush Administration before … Read More
Are You Loyal to Big Oil?
I pledge allegiance to Big Oil, run by the richest CEOs in America, and to the gas pump from which it flows: one profit margin, unchecked by Congress, with higher gas prices for all! Loyal to Big Oil—a partnership between Billionaires for Bush and Oil Change International’s Separation of Oil and State campaign—is a strategic … Read More
Biggest Polluter
Sunday’s local newspaper reported that gasoline sales in Vermont were 13 percent below prediction in February of this year and almost 15 percent low for May. I have no theories on the May swoon, aside from the toll continued high prices are having on us all, but I’m reasonably sure the February dip was due … Read More
As High As The Sky
Three months ago, I predicted airlines would feel the first pinch of peak oil. They’re pinched and passengers are screaming. My ears are full of complaints from friends who’ve been traveling in the past month. I’ve got to fly in 10 days; I’m not looking forward to it. The price of oil is creeping toward … Read More
The Race Is On To Grab World’s Last Oil Hotspots
The Guardian reports today that “money [is] no object as the big players grab what is left of a diminishing resource”, quoting the recent decision by Sinopec of China to pay $1bn for the right to explore for oil in deep water off Angola. This has “shocked” the west, “which fears it could be left … Read More
BP: The Days of Cheap Oil Are Not Over
Lord Browne, BP’s chief executive, went against the grain of recent energy hikes and said that within a few years crude oil prices would be $40 a barrel or even lower. “It is very likely that, in the medium term, prices will stand at about $40 on average. In the very long run, even $25 … Read More
Big Oil: Big Profits But in Big Trouble
Hot on the heels of Business Week laying into the oil majors, now the Financial Times is doing it too. Although they are making “unprecedented profits” and have returned well over $120bn to shareholders, the FT says these are “uncertain times for the international oil companies”. Once again the issue of gaining access to reserves … Read More
GOP Tries to Avert Crisis Over Fuel with $20 Billion Sweetner
The Republicans are trying to get the upper hand in the escalating political battle over high gasoline prices by proposing a $100 rebate for taxpayers, by suggesting that they might increase taxes on oil-industry profits, and by proposing the old chestnut that ANWR should be opened. The price tag for the Republican package has been … Read More
Hypocrisy Starts at The Top
Great sketch in yesterday’s Washington Post by Dana Milbank about the hypocrisy of America’s politicians when it comes to driving. Suddenly as the price of fuel reaches $3 a gallon, everyone is up in arms. They preach that America has a problem with rising fuel costs and energy security. Although they moan about it, not … Read More