oil prices

Peak oil notes – Mar 21

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A mid-week update…Oil prices plunged on Tuesday and then rebounded on Wednesday after the US Federal Reserve announced it would keep buying bonds at a steady pace; US crude stockpiles unexpectedly dropped; and the EU put off a decision on a Cyprus bailout.

Peak oil notes – Feb 28

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A midweek update…New York oil traded in a narrow range around $93 a barrel this week, closing a touch higher on Wednesday on better news about the US economy. Brent continued last week’s plunge closing on Wednesday at $111.89 a barrel, down $6 a barrel in the last 10 days. The indecisive Italian elections and the renewed nuclear talks with Iran were the main factors behind Brent’s plunge.

The real reason the economy is broken (and will stay that way)

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We are far enough and deep enough into the most heroic monetary and fiscal efforts ever undertaken to finally ask, why aren’t these measures working? Or at least we should be.  Oddly, many in DC, on Wall Street, and the Federal Reserve continue to steadfastly refuse to include anything in their approaches and frameworks other than "more of the same."

‘Drill, Baby, Drill’ fails: Why gasoline prices remain high despite oil boom

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On Monday, USA Today reported that the price of gasoline hit $3.60 a gallon for the first time since October — an early start in comparison to the usual price rise seen in the spring. The increase occurred despite world oil production climbing to 88.8 million barrels per day in 2012, about 2 million barrels higher than two years ago according to the Washington Post’s Brad Plumer. And about half of that increased production is due to an oil boom in the United States that’s driven imported oil to its lowest level since 1987.