Oil dropped to $98/bbl Friday after jobs news indicated a serious drop in demand. Of course, this is temporary. Sometime this weekend, oil producing nations will casually announce cuts to production for critical maintenance which just happens to correspond to driving up the price back to the $100+ range once more. Like every other time before this ( Read more... )

Gasoline in California is down to $4.17/gal cheap stuff, cheapest price. Why? The DJIA fell 1.00% on news that The Fed would devaluate the Dollar more by buying assets (this is commonly called "borrowing from Peter to pay Paul"). It is worth pointing out that the NIKKEI and TOPIX (asian stock exchanges) have fallen 1.47% in trading so far today, in ( Read more... )

Why isn't oil spiking up faster? We all know that sooner or later Israel will strike Iran or another big hurricane will blow through the Gulf of Mexico. So come on, let's get this show on the road already.

Remember "Who Killed the Electric Car?"? This is the followup, which includes the Tesla, Leaf, Volt, and some guy in LA building his from scratch. Interesting interviews with the men behind the new cars. It is worth noting that the Leaf is actually being sold to people in Portland for real world use as a test market. It is a shame that the Lithium ( Read more... )

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The story title is:
Oil Prices Will `Pierce' $147, Schoenberger Says

The link leads to a video of a couple different guys being interviewed on oil price trends. One says it will pass $147 because we can't live without it. Another says we're already too pricey and says collapse in economic activity will cut demand, dropping the price. I think they ( Read more... )

There seems to be a growing consensus among the populous that in fact, the world is awash in plentiful oil, and that the high prices stem solely from the actions of "the speculators" and "wall street ( Read more... )

http://therealnews.com/t2/index.php?option=com_content&task=view&id=33&Itemid=74&jumival=803

I'm kind of amazed that oil has reached this level despite every indicator suggesting Greece is weeks from collapse/default and the EU ending abruptly in pints of bitter to celebrate the failure of decades of effort at unification. I can't blame them a second pint, but watching the price spike quietly, sans response ou comment, I find myself sadly ( Read more... )

Sepulveda Boulevard, circa The Petroleum Age.