They’re well past $3 in Chicago now; heading there across most of the country now. This January rise is the same pattern we saw in 2008. Not sure if we’ll get back to those 2008 heights ($4.50 per gallon) this year, but it’s possible if the economy holds up — far from a [...]
Monthly Archives: January 2010
New “old” story in WSJ today, highlighting oil companies’ efforts to score big finds in deep water.
The article once again recounts BP’s GIANT find in the Gulf from last fall. Never mind the fact that of those 3 billion barrels, only 1 billion are recoverable and that, ultimately, 1 billion barrels, while they may be worth $80 billion, is only enough oil to last the U.S. about seven weeks.
The article gets [...]
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Oh, dear. Pity the oil lobby and its “facts.”
Good story in the Times today. Boils down to this: The federal government wants more money and more oversight on oil and gas drilling in public lands out West. Makes sense to me. It’s been well-reported that the Bush administration gave drilling companies copious rights at bargain prices while undervaluing oil and gas [...]
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What does orange juice have in common with oil?
Not a whole lot, really, except that both commodities owe their existence to the amazing properties of solar power. One product, oranges, manifests after a short growing season and the other, oil, takes several hundred thousand years longer…
But it’s also interesting that the prices for both staples swing higher on the news of extreme [...]
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