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Fed Up With Financials? Let’s Go Drill For Oil Instead…
You know what?
I’m done with the financial sector for now. For the past 48 hours or so, everyone (except perhaps folks in parts of deepest, darkest Peru) seems to have pontificated ad nauseum about the woes within the sector.
It’s a lazy television producer’s dream. You can’t turn on a news or business channel without hearing the “Latest On Lehman,†as the tube revels in yet another panic-inducing story that can run endlessly.
Sure, people want to know the details – after all, this is one of the biggest financial meltdowns in history – but just how much is enough? And how…
17Sep2008 | Smart Profits Report | Comments Off | ContinuedRussian Oil Exploration — And Why The US Will Be Playing Catch-up
I told you so.
While the U.S. dawdles, hems and haws over offshore drilling, the Russians are committed to developing the Arctic.
And the Russians are going to do it. They will conquer the resources of the Arctic, just as their Czarist forebears gained control for Russia over Central Asia in the 18th and 19th Centuries. (Fortuitously for the U.S., the Russians “sold†Alaska to the U.S. in 1867 for a mere $7.2 million.)
The Russians are now shaping events in the Arctic in their own, characteristic way.
At a recent meeting with top oil executives, Russian Prime Minister Vladimir Putin said Russia’s declining…
14Jul2008 | Energy and Oil | Comments Off | ContinuedThe intellectually barren offshore drilling debate
At least one of Matt Simmons’s forecasts is not yet bearing fruit — his 2006 prediction that Peak Oil would come to dominate the 2008 campaign. For the debate over offshore drilling that’s erupted this week has shed absolutely no light on the real issues.
For starters, there’s a highly disingenuous calculus behind the flip-flops of John McCain and Florida Governor Charlie Crist, who now favor offshore drilling: They’re sending a message, implicit but unmistakable [Update: Actually, it's completely explicit] , that allowing more offshore drilling will somehow put a voter’s Labor Day getaway this year, heretofore unaffordable, within reach. It will, of…
23Jun2008 | Desidooru Saloon | Comments Off | Continued
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