Chevron’s Doubled Profit Caps Oil Industry’s ‘Vampire Attack on Economy’ Current Oil Price Breather Is Right Time for Action to Prevent Next Speculative Bubble, Says Group October 31, 2008 Santa Monica, CA — The…
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Archive | Tag: speculation
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Clap to save green energy
8-22-08 by dugan OK, oil is a fraction of the price it was in July, and gasoline is finally below $3.00 a gallon. Natural gas is also about 50% below its top price this summer….
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Unhinged oil prices
9-22-08 by dugan Oil prices shot up by an all-time record $25 a barrel in one day because, um, because… uh, well, for no good reason. It’s all paper trading and has nothing to do…
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Oil manipulation? We’re shocked.
9-04-08 by dugan For the last two years, the White House and its Commodity Futures Trading Commission have patted us all on the head and said "it’s only supply and demand" while the price of…
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Corn, memory, energy policy
8-8-08 by dugan So what’s the price of corn these days? A little above $5.00 a bushel. It’s down about 28%, even more than the 21% drop in the price of crude oil (from over…
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Fever breaking?
8-6-08 by dugan The drop in the price of oil, now at under $119, feels like a fever breaking. Iran’s saber-rattling, Nigerian gangs, Chinese demand, the weak dollar — all still exist, but as the…
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Chevron: Drill Less, Profit More
NEWS RELEASE: Chevron Profits: Drill Less, Profit More Chevron Data Shows Industry Lag in Producing New Oil from U.S. Source — Lower Production Shows Failure of Investment, Not Lack of Oil, Says Watchdog Santa…
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Exxon: ‘Pumping Cash, Not Oil’
NEWS RELEASE: Exxon: ‘Pumping Cash, Not Oil’ Exxon’s ‘Biggest Profit in the World’ Is Actually Bigger; $8 Billion in Unproductive Share Buybacks Should be Counted, Says Group Shell, No. 2 Oil Co., Also Hits New…
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Murder in the U.S. Senate
7-30-08 by dugan The noise, hearings and promises in Congress about oil prices and energy relief are adding up to precisely zero result. Even the most modest, targeted bills are falling off the…
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‘Fat, sloppy smooch’ to oil
7-25-08 by dugan Today’s defeat in the Senate of a mild little bill to regulate wild speculative energy markets was a raw display of oil and financial industry power in Washington. So was the defeat…
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Traders Manipulated Oil Prices (!)
7-24-08 by dugan Hey, not my headline. It’s straight from the CNNMoney story on the government’s accusations against an oil trading scheme meant to "bully the market." The charge against Optiver Holdings isn’t…
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Nah, it’s just supply/demand
7-23-08 by dugan The Wall Street Journal’s Brian Baskin today nails down both ends of a mystery in oil markets. The collapse of the little-known SemGroup, a pipeline and storage company as well as major…
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Bubble’s leaking. What next?
7-17-08 by dugan As the price of a barrel of crude oil dropped to under $130 today, down from its high of $145-plus a barrel, I picked this as quote ‘o the day: "We have…