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POPSOil Supply Increases, Oil Price Increases Proof again supply is not the problem driving prices on oil and gas. Note this happens as the oil laden Caspian region (Russia, Georgia, etc.) comes into play with war and rumors of war--and particularly as Condi Rice (former exec at Chevron) goes around heightening US rhetoric against Russia and signing provocatory missile agreements with its satellite states. It is not actual supply so much as perceived supply which is effected by wars and "geopolitical" tensions and factors . Change the (neoconservative) war policy, prices will drop.
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POPSSurge for the Dollar Despite Global Fears The dollar surged to a two-year high against the pound and a six-month peak against the euro on Friday, as fears about spreading economic gloom triggered a sell-off in commodities. Against sterling, the US currency notched up its 11th consecutive day of gains – its longest uninterrupted rise in more than 35 years – as markets became increasingly convinced that the US was best-placed to weather the global downturn. The Reuters-Jefferies CRB index, a benchmark for commodities, fell more than 2.5 per cent to its lowest level since late March. The index has fallen almost 20 per cent since an all-time high in July, but is still 22 per cent higher than a year ago.
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POPSUS Best Place to Put Your Money Seems our economy is better than the Euros or the Japanese... Don't look for the MSM to report that, though, it interferes with their narrative that only the O-mentum can cure our ills... maybe the world isn't so infatuated with Obama after all...
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POPS"Tropic Thunder" Comedy Mocks Hollywood And Movie-Makers
To save the movie, director Damien Cockburn (Steve Coogan) decides to shoot it documentary-style, with his actors improvising in the jungle. But that idea also goes awry, and the gun-toting actors find themselves up against a drug lord and his minions' real guns. The premise is amusing, though the actual plotting doesn't always make sense, especially when the actors have to face the real-life villains. And as it goes along, the pleasure is not so much from character development as a series of set pieces, such as African-American Chino's view of Lazarus' vision of an African-American, or Grossman's attempts at crisis management. Indeed, Cruise may be the funniest thing in the movie, although he gets competition, notably from Downey and from Jay Baruchel as Kevin Sandusky, the non-star in the acting ensemble. And movie buffs will have fun picking up on the allusions to other films, especially Apocalypse Now. http://www.tropicthunder.com/home.html
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POPSDemocrats Plan To Reduce Gas Prices: Buy OPEC Oil? "Releasing oil from the Reserve is a tool to manage our national and economic security, and when judiciously used will in no way jeopardize national security," the California Democrat wrote. Thus, Democrats favor exploration of the SPR, which is supposed to be used only for catastrophic shortages, but believe that drilling for oil in the U.S. is "a hoax". Can someone explain to me why Democrats only hate oil that's made in America? Update: "Obama releases Exxon ad and hopes no one notices it's a lie"... You just can't make this stuff up... Despite his new TV ad, Barack Obama has received more money from Exxon and Mobil employees than Senator John McCain. Update II: "Tire-Gauge Industry Pumps Up Obama Campaign Coffers."
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POPSThe Energy War Begins: From Russia With Bombs The U.S. and E.U. are also backing an associated project for a natural gas pipeline that would, again, traverse Georgia and Turkey and bypass Russia, thereby lessening Europe’s dependency on gas either sourced from Russia or sourced from Central Asia but controlled by Russia. Tale of Two Pipelines: Europe Seeks to Lower Dependency on Russian Gas Friday, March 07, 2008 By Patrick Goodenough, International Editor (CNSNews.com) - Russia's latest standoff with Ukraine over natural gas supplies has been resolved for now, but the dispute has reinforced the view in Europe that alternatives to Russian energy are sorely needed. Russia's state-owned Gazprom monopoly early this week cut supplies of gas to Ukraine by 50 percent over a longstanding financial dispute. Gazprom says Ukraine owes it $600 million. But after high-level negotiations the company said the restrictions had been lifted. http://www.cnsnews.com/public/content/article.aspx?RsrcID=18989
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POPSOil Plummet Stretches to $30 (20%!) except to the extent that they have served as catalysts for the burst, which is now of its own accord exhaling those long built up expectations of indefinite price increases. To stretch the bubble metaphor a little further, one or all of these events has served as the pin prick, which plays a crucial role in the bubble lifecycle; but it's the subsequent explosive exhalation of all the hot air inside (in this metaphor, the role of the hot air is played by the irrational expectations of endless price increases) that has yielded the cascading prices we've seen (and can hope to continue to see) over the last three weeks.
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POPSBarack Backer Dodges On Obama Vote For Bush Energy Bill BONUS COVERAGE: Shuster Laughs in Donatelli's Face; Mitchell Mocks McCain Energy Plan Before Schwartz played dodgeball, Shuster played truer to form, literally laughing in a Republican's face. As the redoubtable Frank Donatelli, Deputy RNC Chairman, explained how McCain would stand up to the oil companies as he's promised to do in an ad, Shuster can be heard off camera letting go with a mocking laugh. View video here. Andrea Mitchell stopped short of laughing at a McCain advisor, but Mitchell found a mirthless manner of expressing cynicism over McCain's energy proposals. Prof. John Taylor of Stanford and the Hoover Institution, a McCain economics advisor, was her guest during MSNBC's 1 PM hour. After Prof. Taylor noted how proposals to drill offshore have already brought crude prices down significantly, Mitchell went on the attack.
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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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POPSObama: Getting Closer to an Energy Policy Obama suggests tapping the Strategic Petroleum Reserve. So far, he hasn't outlined a comprehensive energy policy. Expect him to pay closer attention to this issue as a response to McCain's ad campaigns
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POPSEnergy Rhetoric vs Reality RHETORIC: Oil and natural gas companies are demanding greater access to America’s resources even though they own leases on millions of acres of federal lands that are already open to drilling. REALITY: Just because a lease is not producing oil or natural gas doesn’t mean it’s idle. Companies are actively exploring and developing the majority of their leases, but the entire process takes years and requires many steps, including securing government permits, analyzing seismic data and installing the machinery needed for drilling and production. Many leases prove not to contain enough oil and natural gas to be commercially viable, and companies can’t produce oil and natural gas where it does not exist. REALITY: At a time when we need all the energy we can find, increasing access to domestic sources of oil and natural gas would enhance our energy security. We have enough oil and natural gas resources to power 65 million cars for 60 years and heat 60 million households for 160 years.
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POPSDeath has a MySpace I have known about this site for a while now, I have to say I was shocked at first. I did and still do think it was created to make money, not to respect the dead as they say. I was interested in how people commented about the video. Most of them expressed their feelings or lack there of, or maybe these days its cool to be crude.
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POPSOil prices continue to go down Reduced demand for gas is causing the price of crude oil to go down. I hope people get used to conserving gas though- better for the planet.
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