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Wednesday, June 11, 2008

How the New Oil Crisis Affects You

My latest column is up. It's on the oil crisis ...

How the New Oil Crisis Affects You
by Sean Brodrick
Wednesday, June 11, 2008 7:30 AM
In ancient times, when mapmakers came to uncharted territory, they would scrawl: "Here There Be Dragons." Flash-forward to the 21st Century; oil markets went into uncharted territory on the ... [More...]

Here is other news you can use ...


IEA Says World Facing `Oil Crisis,' Ready to Release Emergency Stockpiles The world faces an ``oil crisis,'' and the International Energy Agency stands ready to release emergency stockpiles even as the biggest consumers discuss measures to contain spiraling demand, the agency's chief said.

Global Crude Oil Production Dropped for First Time in Five Years, BP Says Global oil production fell for the first time in five years in 2007 and reserves also declined as prices rose to records, BP Plc said in its annual Statistical Review of World Energy.

Gasoline Hits a New Record Oil prices rebounded as the dollar weakened against major currencies Wednesday, but investors braced for a volatile trading day ahead of a report on U.S. crude inventories. Gas prices, meanwhile, advanced further into record territory Wednesday, reaching a new record national average of $4.052, according to a survey of stations by AAA and the Oil Price Information Service.

West Australian Gas Supplies Disruption May Last Until October, UBS Says Western Australia's natural gas supplies may remain disrupted until October because of damage to Apache Corp.'s production plants on Varanus Island, off the state's northwest coast, UBS AG said.

Indian Oil to Reduce Discount on Diesel Sales to Industries to Cut Losses Indian Oil Corp., the nation's biggest refiner, is cutting discounts on diesel sales to corporate and bulk clients to narrow losses from selling fuels below cost to retail buyers.

Petrobras Aims to Become World's Third-Biggest Refiner With Two New Plants Petroleo Brasileiro SA, Brazil's state-owned oil company, said it may become the world's third- biggest oil refiner with a plan to build two new plants.


Corn Climbs to Record in Chicago as Heavy Rains Threaten U.S. Production Corn rose for a sixth day to a record in Chicago, leading gains in soybeans, wheat and rice, after the U.S. cut its output estimate by 3.2 percent from a May forecast as cold, wet weather delayed planting and flooded fields.


Additional Nuclear Reactors, Increased Imports of Uranium Planned by China China, the world's second-biggest energy consumer, plans to add more nuclear-power capacity by 2020, step up uranium imports and explore for the fuel in nations as diverse as Kazakhstan and Niger.


Is The Dollar Doomed? Ever since Robert Rubin began the tradition in the mid-1990s, it has been a significant element of the U.S. Treasury Secretary’s job to continuously state that a strong dollar is in the national interest. It is widely regarded that such utterances, if repeated often enough, can constitute the sum total of what is still laughingly known as the nation’s “strong dollar policy.”


Make Way for the Economic Power of Generation A
They may earn only about £2,000 a year but they are 400 million-strong, scattered across the globe and have just bought themselves a fridge. Meet Generation A, who soon could become the most important economic force on Earth.

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