Obama To Bomb Iraq To Protect Advisors He Sent In, Prevent Ethnic Killing, Secure US Oil Contracts

By: Friday August 8, 2014 5:19 am

Is this Iraq War III? President Barack Obama has ordered airstrikes in Iraq against ISIS forces officially entering America into the civil war in Iraq. The bombing is supposed to stop an ethnic cleaning campaign of the Yazidis by ISIS and protect military advisors that Obama sent into the country a few months ago. Also [...]

Oil Companies Raided In Price-Fixing Probe

By: Thursday May 16, 2013 11:29 am

BP and Shell have been raided by agents of the European Commission on suspicion of rigging oil prices for over a decade. Rigging petroleum prices could prove to be even more lucrative than rigging LIBOR. The London offices of BP and Shell have been raided by European regulators investigating allegations they have “colluded” to rig [...]

Gulf Coast Oil Rig Explosion Kills Two

By: Friday November 16, 2012 10:11 am

A day after a record $4.5 billion criminal settlement in the BP oil disaster, another Gulf Coast oil rig exploded. An oil rig explosion off the coast of Louisiana sent four people to hospital Friday and two others were believed to be missing, Coast Guard officials said. Coast Guard spokesman Drake Foret said the fire [...]

The US: The Saudi Arabia of Oil

By: Wednesday October 24, 2012 7:01 am

I recall hearing quite a bit from various governors that the US is the “Saudi Arabia of coal” or the “Saudi Arabia of wind,” or whatever natural resource they had in abundance. Now, according to AP energy writer Jonathan Fahey, the US verges on becoming the Saudi Arabia… of oil. U.S. oil output is surging [...]

The Depressing Energy Debate in America

By: Wednesday October 17, 2012 7:39 am

Anyone hoping to see an end to our policies of encouraging the burning of fossil fuels certainly winced at the energy section of last night’s debate, which did not mention climate change but did feature both candidates trying to convince the country that they would deliver more coal and oil-based domestic energy.

Obama-Appointed Judge Strikes Down CFTC Commodity Speculation Limits

By: Friday September 28, 2012 3:59 pm

Everybody get on the commodity speculation train. A federal judge today threw out the Dodd-Frank provision that empowered the Commodity Futures Trading Commission to set position limits on commodity trading. Judge Robert Wilkins said in his ruling that the CFTC did not prove the necessity of position limits to curb runaway speculation, and that the [...]

Tensions Mount With New Provocations in Iran

By: Monday September 17, 2012 11:38 am

When you talk about tail risk for the US economy, sweeping away the European crisis and the fiscal cliff, perhaps the biggest potential comes from an oil price shock. Combined with any fiscal tightening, that could easily snap the US into recession. And the biggest threat of this stems not from the protests outside US [...]

Romney Releases Energy Plan

By: Thursday August 23, 2012 6:33 am

Mitt Romney released an energy plan yesterday that some outlets report sets a goal of energy independence by 2020. That’s not quite right. The goal expressed here is “North American energy independence” by 2020, and when you consider that one of our biggest if not our biggest energy trading partner is Canada, and that Mexico [...]

Administration May Tap Strategic Petroleum Reserves After Run-Up in Gas Prices

By: Friday August 17, 2012 7:35 am

Gas prices have shot up 30 cents over the last month, and stand at $3.71 a barrel gallon nationwide, the highest level since mid-May. Rising oil prices and a refinery fire in northern California have caused most of the price increase, but some of this is also due to the possibility of an Israeli strike [...]

Iran and the West Quietly Resume Negotiations on Nuclear Program

By: Thursday July 5, 2012 8:55 am

Since the beginning of the Iranian oil embargo imposed by the EU July 1, the press reports have sought to increase tensions between Iran and the West rather than reduce them. Witness today’s story about Iran disguising its oil tankers to get around the embargo, proving their duplicity and desperation. Or witness the highlighting of [...]

EU Oil Embargo of Iran Begins

By: Monday July 2, 2012 1:47 pm

Over the weekend the European Union inaugurated its embargo on Iranian oil, the most wide-reaching impediment to the Iranian economy of the recent sanctions. The EU as a market is bigger than the United States, so this is significant for Iran. And oil accounts for 80% of Iran’s total exports. Monday marks the first day [...]

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