The impulse to accede to political pressure and jobs blackmail from the Big Three for a $25 billion bailout offers America a historic turning-point opportunity. This is the country’s chance to both reform the auto industry and ignite a massive shift off of oil in one master stroke. How?
Nigerian Rebels are threatening to attack oil fields if they don’t get their way.
The Daily Record asks if we are still mad at the oil companies.
From The BBC:
The price of oil has climbed more than $2 a barrel following China’s multi-billion dollar stimulus package aimed at boosting its economy.
China spends, we pay the price. Good thing they will still loan to us to pay the difference.
From the Financial Times:
“While market imbalances could temporarily cause prices to fall back, it is becoming increasingly apparent that the era of cheap oil is over,” the report states.
The developed world’s energy watchdog has doubled its long-term price expectation from last year’s $108 a barrel for 2030 and assumes oil prices will rebound from today’s [...]
From The Daily Post:
A Government study recently found that New Zealand’s petrol market was “fundamentally competitive” and that prices were not, as people would believe, quick to rise and slow to fall. But is that our experience as consumers?
One of the culprits is our exchange rate and the fact that on the international market we [...]
From Sky News
…Petrofac said the platform had been shut down following an “escape of oil”.
The firm said: “There are 90 personnel on board and as a precaution 57 non-essential personnel have been de-manned by helicopter to Shetland.
No fire, just “escaped oil”.
World oil prices tumble on US economic gloom. I sure hope that Exxon Execs will be able to endure this looming crisis.
From the OMG, Oh, no you did-dn’t department, Bob Williams of Penn Energy thinks Americans are not educated enough in Economics to understand all the trials and tribulations that Oil companies endure:
In other words, the best energy policy may be none at all. The market pretty well sorts things out by itself, as has been [...]