Red-Hot Resources: Happy Friday -- I.O.U.S.A

It’s the weekend. You should go see the movie “I.O.U.S.A.” Some very smart people I know at Agora are deeply involved in the making of this movie. Here’s Roger Ebert’s review.

In Other News ...

China’s Oil Thirst Hits New High

China's oil demand growth hit a two-year high in July but the pre-Olympic spurt will likely fall off in the autumn, undermined by high prices, global economic woes and the end of official pressure to stockpile for the games.

XX Sean’s note – funny, but I’d think that after the Olympics (or at least, after the Para-lympics), China’s oil demand will ramp up again. We’ll have to see.

China Warns on Winter Energy Supply

China warned on Thursday that its energy supply problems were likely to last into winter as it struggles to ensure stable sources of coal, oil and power, the People's Daily reported, citing a senior official.

Some markets are too illiquid to trade. Here is a cautionary tale about rhodium (with charts).

On the other hand, money is pouring into the SLV (silver ETF).

So much for a surplus of gold. You can’t buy American Gold Eagles now if you want to.

You know how things were going pretty well in Iraq lately because a bunch of Sunnis switched sides and became our friends (because we were paying them)? Well, now, the Shi’ite-led government of Iraq has decided to arrest and/or kill those Sunnis. It makes you wonder whose side the Iraqi government is on, anyway.

Want to know more about Obama’s economic plan? The New York Times breaks it down for you.

And here's some dance music to get your weekend off to a good start.