Charts of the Dollar, Gold and More
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OPEC official says output cuts may be needed
An Iranian official in the Organization of Petroleum Exporting Countries said Saturday that the producers group is considering leaving oil production levels unchanged or perhaps even trimming them to shore up flagging prices and defend market share. "The market is oversupplied by at least 1 million barrels a day. If OPEC would like to remove this additional oil out of the market, then OPEC has to cut some production," OPEC governor Mohammad Ali Khatibi told Dow Jones in a telephone interview.
Crude Oil: Supply and Demand Prospects
Despite the high prevailing prices, demand in 2008 is expected to total 86.9 million barrels compared to 85.96 mb/d in 2007. For 2009, global oil demand is expected to reach 87.7 mb/d.
Busting the myths about cheap and unlimited oil being broadcast by Rush Limbaugh, Jerome Corsi and other ignoramuses.
Goldman Cuts U.S. Natural Gas Price Forecast 23% Citing Higher Production Goldman Sachs Group Inc. cut its
Bracing for Inflation
Growing evidence suggests American consumers, businesspeople, and political leaders should all be bracing for double-digit inflation, probably as early as 2009. The skyrocketing price of oil is obviously a central element in the accelerating price spiral. But a sea change in
US Banks Scramble To Refinance Long-Term Debt
The banks’ need to raise capital to offset mounting credit-related losses is forcing them to pay higher interest rates to entice investors.
China raises tax on big cars to curb pollution
But cars with an engine size of between 1 and 2.5 liters, which account for nearly 90 percent of the world's second-largest car market, will have their tax rate unchanged.