Tag Archives: Oil

What to do with Iraqi oil money

From the New York Times: “The Iraqi government now has tens of billions of dollars at its disposal to fund large scale reconstruction projects,” said Mr. Levin, who is chairman of the Senate Armed Services Committee, in the statement. “It is inexcusable for U.S. taxpayers to continue to foot the bill for projects the Iraqis […]

US automakers deserve to fail

General Motors, the American car manufacturing giant, recently announced a second quarter loss of $15.5 billion. Sales of cars and light trucks dropped 29% at Chrysler (Dodge), 26% at GM, 15% at Ford. I guess folks aren’t too keen on buying gas guzzling monstrosities when gas prices are rising rapidly. This is bad news for […]

Oil prices rising like woah

$200 a barrel oil? That’ll make gas what? Like a million dollars a gallon (I’m guessing). I think I’m going to have to get another job or a better one just to afford to go to work. But on the plus side, this problem has spawned awesome infographics from the Economist:

Maybe oil independence isn't a big deal?

Count me among those who think that energy independence is a justified goal for the United States. After reading this article by Peter Kiernan I’m not so sure. Kiernan tackles these myths of oil independence: The United States is dependent on Middle Eastern oil. The United States can eliminate the need to import oil soon. […]

The Kosovo Freedom Midweek Roundup

  Very funny, if relevant, spin on what Russia could do to piss off the US. US warns Russia not to encourage Georgian separatists — Oh wait, the real shit. Double standard? Why not. UN Police Quit Destroyed Kosovo Border Post. It’s begun. Enjoy the fires in the night. UN Peacekeepers Pinned Down in Eritrea. […]

America and Iran play in the Gulf

(Update: Glenn Greenwald raises serious doubts about the U.S. military version of the incident)  It’s now confirmed by video tape that U.S. warships were provoked by Iranian boats in the Strait of Hormuz. The Strait of Hormuz is a strategically important choke point that separates the Persian Gulf, and thus a lot of oil shipping, from the rest of the world’s oceans. Here’s […]

$100 oil and peak food?

Would you pay $600 to tell your friends and family a rousing commodities exchange story? The BBC is reporting that the person responsible for pushing oil over $100 a barrel lost $600 in the transaction. Apparently, it was solely a bid to say they were the first to buy oil at the $100 mark. They […]