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POPSNet-Zero Gas Tax Well-reasoned argument for raising gas tax by $1 while gas is cheap and reducing FICA taxes by $14 a week. Revenue neutral to Fed gov, saves the planet and we starve enemy oil producers of revenue.
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POPSAirline Fees Here to Stay This article dispels any notion that the airlines might be persuaded to roll back fees now that the price of oil is dropping. Their logic? Air travel has been a stagnant business for years and unbundling -- or charging for what was once free -- is breathing new life into the airline business.
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POPSOffshore Drilling Passes House Pair this story, off our AP feed, with a Washington Post front pager on oil's price retreat over the past two months: http://www.washingtonpost.com/wp-dyn/content/article/2008/09/16/AR2008091600247.html?hpid=topnews
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POPSBig Oil as Venture Investor Wall Street Journal, in a special section today, includes a look at how giant oil companies have approached venture investment in energy. Exxon Mobil apparently has no interest. Canada's EnCana regards it as "social investment and supporting innovation." Also discussed is Shell's involvement with Virent Energy Systems, a company we looked at here: http://www.forbes.com/beltway/2008/03/11/virent-ethanol-gasoline-biz-cz_atg_0312beltway.html
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POPSRon Paul On Oil Prices And Free Trade
The Council on Foreign Relations caught up with former presidential nominee Ron Paul last week, who attributed high oil prices to misguided foreign policy and inflation. He also passionately affirmed his pro-free trade stance. The interview is a lively read!
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POPSOil demand isn't about us We've managed to knock down our driving and fuel consumption while, impressively, growing our economy 3.3%. But going forward, China and India will be huge consumers of oil. Any efficiency gains we can make will pay off.
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POPSOil Games at the DNC With public opinion running in favor of more domestic drilling, oil company executives know they have Democrats over a barrel, so to speak. The industry is keeping a low profile at the DNC in Denver, but local reports say plenty of discussion are going on backstage.
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POPSOil: An Industry in Crisis? Not sure if that's the case--crisis might apply to the financial services industry right now--but it's certainly an interesting article.
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POPSCrude Political Ads Who likes crude? It appears that both presidential candidates have received quite a bit of funding from the oil industry, though McCain far more than Obama, according to the Center for Responsive Politics
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POPSPolitical Oil Purely a political move by the administration feels you pain on high gas prices. Oil and natural gas on the OCS is still as off limits as it was before the president made the announcement.
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POPSAirlines Ask Customers to Help Lower Oil Prices There's ongoing debate over whether or not speculators are responsible for the price of oil, but the CEOs of several major airlines are not so uncertain. In a letter to their frequent fliers, they've asked customers to petition Congress to lower the price of oil by regulating speculation. Do you think this tactic will work? Is it a publicity stunt designed to make the airlines look sympathetic to nickel-and-dimed fliers? What do you think?
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POPSSoros: Oil Bubbling If high oil prices are just a bubble that is about to pop, some relief might actually be on the way.
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POPSOil Price Fundamentals James D. Hamilton. professor of economics at the University of California, San Diego, lays out on his blog why he thinks fundamentals not speculation are driving oil prices now. There is a useful look at the usually overlooked new supply side of the supply and demand balance, plus a robust discussion on Hamilton's point of view.
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POPSThe Oracle of $200 Oil Goldman Sachs made headlines with his prediction of oil as high as $200 a barrel. What does this mean? $6 a gallon at the pump. Is this rapidly becoming a self-fulfilling prophecy? The somewhat breathless coverage here reminds me of an old parable from the 90s. An analyst named Henry Blodget predicted in 1998 that Amazon.com stock would hit $400 (when it was currently trading at $250ish). In a frenzy, Amazon hit it within a month. Of course, it went on to collapse spectacularly in 2000. A decade later, Amazon's never returned to trading at that level...
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POPSIs Third Time a Charm for Wind and Solar? Here we go again. The House passes tax credits for renewable energy, tied to raising taxes on Big Oil. As before, this probably will not fly in the Senate. With all the talk about making tax cuts permanent in Washington these days--and a genuine business interest inn being green--it would seem that there should be more momentum behind extending this tax credits. Tying them to oil taxes doesn't work.
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POPSPickens Shorting Oil Billionaire T. Boone Pickens is expecting the value of a barrel of oil to fall by $10 or $15. Such a decline would batter energy stocks which have been enjoying a rally since late January.
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POPSA Good Sign That the U.S. Economy Is In Trouble Bush lobbying for OPEC to boost oil production comes just shy of the president suggesting that he has some influence over oil prices--something this president has adamantly stated he does not have. For good or for bad, Bush rarely walks hat in hand to anyone. When the president suggests that OPEC increasing production would help U.S. families, it's a good indicator of how he really feels about the state of the economy.