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"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Wednesday, May 21, 2008

News You Can Use for Wednesday -- Crude, Gold and Silver

Have I mentioned that I hate flying? I SO wish there was a train to Mexico, LOL.

Anyway, here's what I'm reading to keep my jangly nerves from exploding ...

Petrobras to Order $30 Billion Worth of Drill Ships, Rigs for Tupi Site Petroleo Brasileiro SA, owner of the Western Hemisphere's largest oil discovery in three decades, plans to order 40 drilling ships and platforms worth about $30 billion for delivery by 2017.

Soybeans Decline After Argentine Farmers Announce Plan to Suspend Strike Soybean futures fell for a third day in Chicago as Argentine farmers planned to suspend a national strike that has disrupted grain exports in a bid to revive talks with the government over tax increases.

Crude Oil Rises Above $130 a Barrel for First Time as Banks Up Forecasts Oil rose above $130 a barrel for the first time after at least five banks raised price forecasts in the past week on expectations supply constraints will persist.

Kazakhstan bans export of oil products amid soaring fuel costs
Kazakhstan on Monday banned the export of all refined oil products, news agencies reported, as the energy-rich Central Asian nation grapples with soaring fuel costs. The announcement, made by Prime Minister Karim Masimov at a government meeting, comes just days after opposition parties called on his government to resign amid what they call a worsening economic climate.

Gold Gains for Fifth Day as Record Crude Oil Fans Inflationary Concerns Gold gained for a fifth day to trade near a one-month high in Asia as crude oil held close to a record, stoking inflationary expectations, and the dollar fell.

En route through unknown Mexico: Silver State Zacatas

The Mexican state of Zacatecas is marked by desert and half-desert in the foothills of the Sierra Madre Occidente. Precious metals like silver and gold have always attracted people to the area. Indeed, without gold and silver even state capital Zacatecas, some 600 kilometres north of Mexico City, would probably not exist.

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