Posts Tagged ‘oil’

March 9th, 2020 - 12:36 am § in Donald Trump, Economics

Oil prices collapse after Putin rejects production cuts and Saudi Arabia retaliates

Stocks plunge; Dow drops 2,013 points in Monday trading Oil prices plummeted over the weekend after Russia rejected OPEC-proposed production cuts, setting off an oil-price war with Saudi Arabia. Futures for West Texas Intermediate (WTI) crude fell below $28 on Sunday, and WTI settled at $30.99 in Mo[...]

January 16th, 2019 - 11:46 pm § in America

Can the US Dollar Go Off the Oil Standard?

Not so far back in history, the dollar was denominated in gold. That worked until capitalism told us that the real value of a currency had to be the capital, the productive wealth of a country.  Gold was just a raw material, worth  less than the factories and farms that made America the first real[...]

March 30th, 2016 - 9:15 am § in Misc.

Chinazor in Nigeria:

Chinazor Onianwah  A vast waste of talent and resources unfolding in this land of plenty. It’s depressing to show the photos of people queening to buy gasoline in a country that is the largest producer of crude oil, so I won’t. President Buhari’s incompetence is becoming glaring. [...]

March 27th, 2015 - 4:19 pm § in America

Drillers push to develop Alaskan oil

The U.S. oil industry wants to drill in Alaska, and to justify this, they argue the shale oil will run out in a decade. (Click here for source.) They’re probably right on the latter point. The fracking bonanza almost certainly is temporary. Conventional oilfields, such as those in the Middle E[...]

December 31st, 2014 - 6:56 pm § in Misc.

How low can oil go?

Oil is an extremely complicated industry. There are different grades and qualities of oil, with different refining requirements, and widely varying production costs. Oil is used not just for fuel, but also chemical feedstock, and for manufacturing everything from plastics to fertilizer. Things like [...]

December 30th, 2014 - 6:50 am § in The Ave Scene

A Sight Coming Near You Soon

The number of oil trains crossing Washington every week may grow from 19 to 137 by 2o20, if all the proposed oil terminals are approved, the state Department of Ecology says.[...]

December 10th, 2014 - 12:25 pm § in Misc.

What’s going on with oil? A Q & A primer

Here are some basic facts about oil. The economic law of supply and demand affects pricing, supply, and demand with respect to oil. Unlike natural gas, whose markets are fragmented, and whose pricing varies widely by geographic local, oil can be transported across oceans easily and cheaply, so oil&#[...]

March 11th, 2011 - 11:50 pm § in Environment, Politics, Saudi Arabia

Is Saudi Arabia the next to fall?

from Spiegel   By Bernhard Zand Translated from German by Christopher Sultan The Arab world to which Abdullah had returned was no longer the same one it had been a few weeks earlier, when he left for New York. When Abdullah arrived in the Saudi capital Riyadh last Wednesday, it was no longer just [...]