China, western Europe and the USA are cutting deals with oil producing nations, leaving anyone else hanging dry. MERLIN FLOWER | 2009/10/28 Then the common man’s dream saw result-oil prices marched downwards. So, there ought to have been celebration everywhere, only the euphoria was missing. The reason: underinvestment in oil was equally bad. And, The […]
How many real oil barrels do you see here? The UAE wants you to believe there are 3. But only 1 is real, they made up the other 2. MERLIN FLOWER | 2009/11/05 Can fiction masquerade itself as fact? Well, there’s a case study at hand-OPEC and its reserves. OPEC’s crude oil reserves grew by […]
Behind Buffett’s purchase of railways: belief in crude oil depletion? STEVE AUSTIN | 2009/11/12 From long-term passion for model trains to stake-building of several years, Warren Buffett, the billionaire investor, has decided to acquire one of United States’ largest freight railway firms, Burlington Northern Santa Fe (BNSF), for $34 bn. Berkshire Hathaway INC., the company […]
Crude oil at $145 a barrel caused the financial crisis. GIUSEPPE MARCONI | 2009/11/18 Everyone has been concerned by the recent global economic crisis. In the United States and Europe the newspapers are full of stories of those who have lost their houses and businesses. Elected officials from many nations have sung the evils of […]
IEA officials have distorted figures to downplay the oil crisis. MERLIN FLOWER | 2009/11/28 Oil is slippery, probably why the people associated with it are too. According to reports in the Guardian, a whistleblower at the IEA, no less, has claimed that the agency has been deliberately downplaying the shortage of oil for fear of […]
Oil prices take a dive as the Dubai crisis unrolls. MERLIN FLOWER | 2009/12/04 Of course, the oil prices fell immediately. On November 27, the January contract for benchmark US light sweet crude slid to $76.05/bbl, a decline of 1.91. Dubai, the land of luxury is one of the seven states in the UAE. Its […]
Mirred with scandals gold loses its shine as investors contemplate oil as an alternative GIUSEPPE MARCONI | 2009/12/10 How many people around the world with money to invest are going to continue to fall for the advice of so called experts calling for them to invest in gold? Everyday, newspaper and television advertisements are enticing […]
Multi million-dollar offshore drilling platform MERLIN FLOWER | 2009/12/16 Among all the undertakings in the world, this could rank as one of the riskiest ventures-oil drilling. Here’s a sampler for what we are talking about from Mukluk Island: In 1983, twelve companies spent nearly $2 billion drilling for oil in the Beaufort Sea, North of […]
Today’s supertankers can transport 2 million barrels of oil, more than what the UK consumes in 1 day. TONY D’ALTORIO | 2009/12/23 People have been scratching their heads wondering why the price of oil has held up relatively well this year in the face of a global slowdown and decreased energy demand in the United […]
Amidst this there was drama too: During the course of the summit a leaked document showed that the world leaders were about to sign a document giving more authority to rich nations and sidestep UN from the picture-in essence, it meant more power to rich countries. This draft supposedly gave control to the World […]