All Posts Tagged With: "OPEC"
How Low Will Oil Go?
A few weeks ago, I wrote a column commenting that the price of oil had outstripped fundamentals and was running on fumes. So count me unsurprised that oil has plunged $32 from its high of $147.27 on July 11.
A reader…
13Aug2008 | Investment U | 0 comments | ContinuedGazprom Keeps the Heat on Europe by Pressing Libya
OAO Gazprom, Russia’s state- sponsored gas monopoly, is offering to buy all of Libya’s oil and gas exports in a bid to increase its dominance over Europe’s gas market and enhance Russia’s political clout throughout the region.
Alexei Miller, Gazprom’s…
14Jul2008 | Money Morning | 0 comments | ContinuedThe Monkey House
A few weeks ago we witnessed a political act of such unimaginable stupidity, it is hard to not choke at the mention of it.
A cursory review of the details is worth a minute of your time. This compliments of The…
4Jul2008 | Whiskey and Gunpowder | 0 comments | ContinuedXenophobia redux
For the third time in my lifetime, a storm of revulsion against foreign investment in the United States is beginning to gather. Only this time the clouds appear much more ominous.
The first episode, dating to my childhood, came a few…
13Jun2008 | Desidooru Saloon | 0 comments | ContinuedThe ugly Americans
In the mad rush to blame speculators for high oil prices, our solons in Washington have inadvertently revealed a U.S.-centric, 20th century mindset.
I’m sure Sens. Carl Levin and Dianne Feinstein think they’re enlightened types, far beyond any sort of “ugly…
8Jun2008 | Desidooru Saloon | 0 comments | ContinuedEven Groucho Marx Would be Happy With Indonesia’s Profit Opportunities
At times, you can tell a country by the company it keeps.
Indonesia just announced it plans to leave the Organization of the Petroleum Exporting Countries (OPEC), the infamous cartel that tries to push our oil prices through the roof.…
30May2008 | Money Morning | 0 comments | ContinuedIndonesia to Withdraw from OPEC Due to High Oil Prices
Indonesia, the sole Asian member of the Organization of the Petroleum Exporting Countries (OPEC), will withdraw from the oil cartel at the end of this year.
Energy Minister Purnomo Yusgiantoro announced today (Wednesday) that he would sign a decree officially withdrawing…
29May2008 | Money Morning | 0 comments | ContinuedWith Oil Nearing $130, Kicking the “Oil Addiction” Looks Like the Sole U.S. Hope
Oil prices set a new record just shy of the $130 a barrel level yesterday (Tuesday), despite a concerted - though probably futile - effort by the U.S. government to rein in the runaway commodity.
Crude oil for June delivery reached $129.331 per…
21May2008 | Money Morning | 0 comments | ContinuedSaudi Arabia Agrees to Increase Oil Output After Crude Hits Another New High
Oil soared to yet another record high on Friday after Goldman Sachs Group Inc. (GS) raised its price forecast for the second half of the year. However, during a visit with Saudi Arabia’s King Abdullah U.S. President George W. Bush…
19May2008 | Money Morning | 0 comments | Continued-
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