Oil prices rise on holiday sales, Europe hopes By CHRIS KAHN, from Bloomberg Oil prices climbed Monday after shoppers pumped up holiday retail sales in the U.S., and investors bet that Europe would find a last-minute solution to its financial crisis. The U.S. crude benchmark rose $1.60 to $98.37 per barrel in New York. Brent [...]
OIL Near Three-Week High on Forecast Drop in U.S. Stockpiles By Ben Sharples, from Bloomberg Oil rose for a second day in New York on speculation crude inventories declined for a fifth week in the U.S., signaling fuel demand may be climbing in the world’s biggest consumer of the commodity. Futures gained 0.6 percent, after [...]
US Is Nearing Even Worse Financial Crisis: Jim Rogers From CNBC.com The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday. “The debts that are in this country are skyrocketing,” he said. “In the last three years the government has spent staggering amounts of money and [...]
The population of the world keeps growing. Energy is coupled to population growth. The cost of energy must be subtracted from earnings before those earnings can be applied to any economy. Thus, Purchasing Power is always reduced by energy costs. The cost of energy reduces the world’s GDP because all human activity is tied to [...]
Monday, October 04, 2010 (Bloomberg) – Oil may rise to the second-highest annual level on record next year on demand from China, India and Brazil, upsetting OPEC and threatening the nascent recovery in developed countries. West Texas Intermediate crude, the U.S. benchmark grade, will average $85 in 2011, compared with $77.70 this year, according to [...]
Opec’s 50th birthday party By Simeon Kerr, September 14, 2010 How does an ill-fitting family spanning the Wahhabi state of Saudi Arabia and revolutionary Venezuela celebrate its 50th anniversary, which fell on Tuesday? Well, no-one is saying the party-planning for the Organisation of the Petroleum Exporting Countries, founded in Baghdad in 1960, has been easy. [...]
The World does not know that there is a Great Depression in the U.S. and half of Europe. In Asia, Latin America and Eastern Europe people are working, buying cars and using gasoline powered motors. Oil is an international commodity whose price is determined by the entire population of the Planet. As a consequence, the [...]
Oil prices must go up.
Today’s prices are the lull before the storm.
Be prepared for $5.00 gas.
