4 posts tagged “oil crash”

Yet another rant on oil. Good article...

http://www.theoildrum.com/node/4007

(( Given the recent price hikes at the gas pumps worldwide and main stream press coverage, there might be some interest :) ))

Sometimes an article headline is so good that I just had to copy-paste...

Oil prices, now $130 a barrel, have risen six-fold since 2002. On Wednesday, heating oil reached a record high above $3.90 a gallon and the price is expected to stay high.
Heating oil, which cost $3.29 a gallon in January, will likely cost $3.83 in December, according to the government's Energy Information Administration.
Those costs come at a time of rising food prices, forcing people to spend more on basics as wages fail to keep up. The effects on the economy could be profound.
"The American consumer will continue to pay for fuel, food and heat," said University of Maryland economist Peter Morici.
"But they will give everything else up," he said. "That's going to make it harder to sell the average consumer a television, a suit, or even a meal at a restaurant."

Twilight in the Desert.

Teil 1...

http://www.bloomberg.com/apps/news?pid=20601087&sid=axUZLDnNnHgM&refer=home

Teil 2 ...

Political Capital ★

Today:

Saudi Arabia Friday rebuffed President Bush’s request to immediately pump more oil to lower record prices, saying it does not see enough demand to increase production.

Eight years ago:

Gov. George W. Bush of Texas said today that if he was president, he would bring down gasoline prices through sheer force of personality, by creating enough political good will with oil-producing nations that they would increase their supply of crude.

“I would work with our friends in OPEC to convince them to open up the spigot, to increase the supply,” Mr. Bush, the presumptive Republican candidate for president, told reporters here today. “Use the capital that my administration will earn, with the Kuwaitis or the Saudis, and convince them to open up the spigot.”

Source: http://daringfireball.net/linked/2008/may#fri-16-bush

To be continued.

I already blogged about this documentary movie, here's the trailer. Since this movie only played in a few festivals and didn't get mass media attention it deserves because of the timeframe involved (probably this was less important to handle after all the Al Gore movie hoopla).

In my opinion, this movie is more important than Al Gore's movie, which contains a number of detabable issues...