What a difference a few months make! Crude oil began the year at roughly $96 per barrel. It surged to $145 by mid-July, and has plummeted to near the $102 level today. Massive amounts of cash flowed into the commodity markets this year, looking for the next hot ticket after the debacle of the mortgage-backed and CDO markets. Prices, predictably, moved upwards. But the 50% | Read More »
*Is it Midnight at the Oasis Yet? Not Quite! * As I work on this blog, the price of crude oil has dipped below $112. Market analysts attribute the rise to a strengthening dollar and deepening concern about global demand. Crude has thus declined 25% from its speculative peak in mid-July.
Kurdish rebels have claimed responsibility for an explosion on the pipeline carrying Azeri crude from the Caspian Sea ACG fields. Output is expected to drop by 80% pending repairs.
As a compassionate conservative, I can understand the impulse to flee steamy Washington DC in August. But the Congress should really do its job first. I am posting Rep Marchant’s letter in its entirety. Let’s Have a Vote on Real Energy Solutions As many of you have heard, the House Republican Caucus has taken over the empty House chamber in protest of Democratic House Speaker | Read More »
July was not kind to the energy bulls. The spot price of crude fell from a high of $145 in mid-month to close at $124 by month end, a decline of over 14%.
![[RS]](/t/img/logo-footer.jpg){kind=logo}