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Keyword: oilcrisis

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  • OPEC sees risk of price rise, shortage

    06/14/2011 11:54:26 AM PDT · by Bigtigermike · 7 replies
    Reuters ^ | Tuseday June 14, 2011 | Alex Lawyer & Barbara Lewis
    LONDON (Reuters) - Oil prices will rise and could harm the economy if an expected supply shortage materializes later this year, OPEC Secretary General Abdullah al-Badri said on Tuesday. Consumer countries urged the Organization of the Petroleum Exporting Countries to pump more to replace supplies shut down in Libya and to prevent fuel inflation hurting economic growth. Instead last week's OPEC talks collapsed without a deal, although Badri said the OPEC secretariat had presented all the evidence for a production rise.
  • The Oil Crisis: How Bad Must It Get Before Obama Chooses to Act?

    02/26/2011 6:45:08 PM PST · by Clintons-B-Gone · 128 replies
    All Voices ^ | February 26, 2011 | R.G. Yoho
    When it comes to rising oil costs, there are only three options available to us in regards to the president’s handling of the situation: (1) Perhaps President Obama is an absolute moron, with no concept of how to run a nation’s energy policy. (2) The president actually wants the country to suffer through another Carter-like gasoline crisis and become like the third-world economy of his beloved Indonesia. (3) Obama is too busy planning his next family vacation on the country’s credit card, and simply doesn’t care. America is waiting. Which one is it, Obama? Inquiring minds want to know.
  • Interstate Tesla Service Stations: Business Idea?

    10/27/2009 6:26:23 AM PDT · by dangus · 65 replies · 1,125+ views
    Vanity | 10-27-09 | Senseless vanity
    I'm not in the position for making any huge investments, and this might be in the category of just plain ignorant, but I figure this proposal might at least prompt some interesting discussion, and if its plausible, someone should do it: The Tesla gets about 220 miles per charge. Great... if you're going somewhere less than four hours away. But if the S-class (a $50,000 "family car") is going to be someone's main car, they're certainly going to want to take longer trips with it. The problem is the car takes 8 hours to charge with 110 volts. By doubling...
  • Oil Prices Are Down, Gas At The Pump Is Down, What Now America?

    11/19/2008 4:10:13 PM PST · by DakotaRed · 14 replies · 529+ views
    Right In A Left World ^ | November 19, 2008 | Lew Waters
    It seems we have dodged another bullet in our cost of energy as oil prices have plummeted and gas is preparing to drop below $2.00 a gallon, down from inching just over $4.00 a gallon earlier this summer during the campaign. Such high costs put a crimp in our living standards and hurt everybody as we stopped driving as much, stopped buying new cars and had to pay increased prices for nearly everything that had to be shipped over the road by truck. We cried out about it and the candidates responded with promises of increased energy efficiency requirements to...
  • Oil Crisis Is Solvable

    06/22/2008 12:24:46 PM PDT · by FocusNexus · 39 replies · 124+ views
    Yahoo News ^ | June 20, 2008 | Linda Chavez
    There is only one way to drive down the rising cost of gasoline for the long term: significantly increase the domestic supply of oil. We are the only nation in the world with access to known oil deposits on our own land or off our shores that essentially refuses to tap those resources. ... Instead of coming up with real solutions to our growing energy crisis, the Democrats in Congress would rather rail against the oil companies. But oil company executives don't set the price of oil - and taxing their companies more won't do anything to lower the cost...
  • Obama and The Don't Drill Democrats To America: Don't Drive.

    06/19/2008 4:32:56 AM PDT · by CWWren · 81 replies · 118+ views
    Town Hall ^ | June 19, 2008 | Hugh Hewitt
    Obama and The Don't Drill Democrats To America: Don't Drive. Just Shut Up and Sweat In Your Dark House. When Barack Obama told a Pennsylvania audience this past weekend that "We can't drill our way out of this," he was repeating the same line that Nancy Pelosi used days earlier and that Harry Reid used on Wednesday. The Big Three Democrats are thus all agreed that their party has given up on bringing down the cost of oil and thus the cost of gas at the pump. Because demand for oil isn't going to drop due to growth around the...
  • GET OVER IT! Rising crude is GOOD FOR YOU: analyst

    06/13/2008 12:50:46 PM PDT · by Berlin_Freeper · 17 replies · 404+ views
    Reuters ^ | June 13, 2008 | Herbert Lash
    Surging oil prices have often sent stock markets tumbling this year when, according to one view, investors should embrace rising energy costs because they boost the bottom line of many large-cap U.S. companies. The energy sector is now the largest earnings contributor to the Standard & Poor's 500 Index .SPX, Wall Street's benchmark for corporate America's profitability, said David Bianco, head of U.S. equity strategy at investment bank UBS in New York. Many investors see the rise in crude prices as a negative because of its potential impact on economic growth and the wallets of American consumers. That view, however,...
  • Who's to Blame for America's Oil Crisis?

    05/26/2008 7:57:57 AM PDT · by RightSideNews · 42 replies · 140+ views
    Right Side News and WebCommentary ^ | May 26, 2008 | Bob Webster
    May 26, 2008 by Bob Webster A CNBC poll asks, "Who's to Blame for America's Oil Crisis?" After more than 10,000 votes, the U.S. Congress is given the lion's share of blame at 36%, more than twice those who thought President Bush is to blame. Speculators came in a strong second at 25%. Maybe there is still hope for the American electorate. Too bad the GOP is making no discernible effort to take advantage of the historic low esteem Americans have for this wacky Democrat-controlled Congress. The breakdown of CNBC's poll results as of Memorial Day morning:
  • Iran threatens oil crisis in nuclear standoff

    01/19/2006 1:22:20 PM PST · by NormsRevenge · 23 replies · 717+ views
    AFP on Yahoo ^ | 1/19/06 | AFP
    TEHRAN (AFP) - Iran warned of a world oil crisis if sanctions are imposed over its nuclear program even as the United States and Europe struggled to get support for UN Security Council action. "In case of sanctions, other countries will suffer as well as Iran," Oil Minister Davoud Danesh-Jafari said, according to the official news agency, IRNA. "One of the consequences will be the unleashing of a crisis in the oil sector and particularly a price hike." Iran, the number two oil exporter in OPEC with oil revenue last year of 42 billion dollars, risks being referred to the...
  • Simulated Oil Crisis Raises Eyebrows

    06/24/2005 12:59:13 PM PDT · by nikos1121 · 17 replies · 545+ views
    Fox News ^ | Friday, June 24, 2005 | Fox News
    WASHINGTON — With Congress poised to finally turn out an energy bill, a group of former officials from both parties and the intelligence community gathered in Washington Thursday to demonstrate how the world is flirting with disaster on energy. The message in the exercise: If consumers don't like spending $2 per gallon for gasoline, they will probably like $5 per gallon even less. In a sobering reminder of the need for a long-term energy strategy, a nonpartisan group forming the National Commission on Energy Policy held a simulated National Security Council meeting to grapple with a frightening sequence of events....
  • Was America preparing a war for the Gulf oil in 1973?

    01/01/2004 10:47:34 PM PST · by RWR8189 · 9 replies · 283+ views
    The Independant ^ | January 1, 2003 | Cahal Milmo
    Papers released under the 30-year rule show Britain worried about Middle East conflict and what to buy for a royal wedding The British Government believed America was preparing for a lightning war in the Middle East to end the 1973 oil crisis, including an invasion of Kuwait, documents released today to the National Archives show. The Joint Intelligence Committee, the body that acts as the link between the intelligence services and Downing Street, warned the Prime Minister, Edward Heath that Washington was planning to seize oil fields in Saudi Arabia, Abu Dhabi and Kuwait to secure the Western economies. The...
  • Author Weiss: Turmoil Threatens Oil Supply

    04/16/2002 7:33:29 PM PDT · by Tumbleweed_Connection · 2 replies · 147+ views
    NEWSMAX ^ | 4/16/02 | Limbacher
    "The popular uprisings in Venezuela demonstrate the extreme vulnerability of today’s world oil markets to political turmoil," says Dr. Martin Weiss, author of "The Ultimate Safe Money Guide." "Unfortunately, however, U.S. policymakers underestimate the anti-American sentiment in Latin America." Worse, in the Mideast, American officials grossly overestimate the stability of the Saudi Arabian monarchy and the effect of the Palestinian conflict on mass movements throughout Arab countries, "the same mistake we made a quarter century ago with the Shah of Iran," Weiss says. He foresees "deep and long-lasting" consequences for gasoline prices, the economy and American investors.
  • The Third Oil Crisis?

    04/09/2002 7:49:51 PM PDT · by Tumbleweed_Connection · 11 replies · 364+ views
    NY Times ^ | 4/9/02 | PAUL KRUGMAN
    In 1973 an Arab embargo sent oil prices soaring, and a global recession followed. In 1979 the Iranian revolution provoked a second surge in oil prices, and another global recession. Are we now at risk of a third oil crisis? I wish I could say no, but I can't. Oil prices have risen about $10 per barrel since the situation in the Middle East began deteriorating. So even if they stay where they are, this represents a serious shock to the system — and there could be more to come. True, political analysts assure us that despite Iraq's decision to...
  • At Long Last?

    04/05/2002 6:29:04 AM PST · by TK21 · 11 replies · 175+ views
    The New York Times ^ | 4-5-2 | Paul Krugman
    I almost had a Joseph Welch moment on Wednesday. I've calmed down a bit since, but I'm still on the edge. Joseph Welch represented the Army in the 1954 Army-McCarthy hearings. It was a time, like the present, when the nation faced a real external threat; alas, some people tried to use that threat to gain political advantage and suppress dissent. When Senator Joseph McCarthy tried to smear one more innocent victim, Welch burst out with a heartfelt soliloquy that earned him a place in the pantheon of liberty. It ended: "Have you no sense of decency, sir? At long...