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O.P.E.C.

Oil Prices Drop Below $60 For First Time In More Than 5 Years

AP | Posted 12.11.2014 | Business

The price of oil fell below $60 for the first time since July 2009 on Thursday and ended trading in New York at $59.95. Benchmark U.S. crude oil dr...

Why I've Finally Thrown in the Towel on the TSX

Jeffrey Rubin | Posted 12.10.2014 | Business
Jeffrey Rubin

Some investors might choose to steer clear of oil sands stocks for environmental or ethical reasons. Personally, I didn't disinvest from the oil sands to save the world. I did it to save my portfolio.

Oil Prices Continue to Contract as OPEC Maintains Production Levels

Sheldon Filger | Posted 12.10.2014 | Business
Sheldon Filger

Since mid-June the price per barrel of petroleum has collapsed by a staggering 37 percent. This almost perfectly mirrors -- in reverse -- the steep rise in oil prices in mid-2008, which was followed by an equally sharp contraction when the Great Recession -- the onset of the global economic and financial crisis -- struck with full fury.

Could the Oil Price Crash Kill Keystone XL?

Terry Connelly | Posted 12.04.2014 | Business
Terry Connelly

Why, indeed, would U.S. shale producers want to use public policy to subsidize Canadian oil producers in an extreme and sustained low oil price environment?

Non-Dollar Trading Is Killing the Petrodollar -- And the Foundation of U.S.-Saudi Policy in the Middle East

Alastair Crooke | Posted 12.18.2014 | World
Alastair Crooke

This new oil price drop simply is crushing producers' currencies in foreign exchange markets. The combination of the petrodollar losing its ability to act as a store of value, combined now with exchange rate blues, may be the straw that breaks the producer "camel's back" in respect to OPEC and dollar denomination. Such a moment would seem ripe for Russia and Iran to begin a gradual challenge to Saudi's leadership of the OPEC cartel and to the dollar-denominated energy system, if enough OPEC members and other producers are prepared to rebel. Iran has been lobbying hard in this direction.

The Downside of Oil Independence

Jeffrey Rubin | Posted 12.02.2014 | Business
Jeffrey Rubin

For the last few years, energy independence seemed like a pretty good deal. What we're on the verge of discovering is that much of the production that makes it possible isn't viable in a world of falling oil prices.

The Cheap Oil Curse

Robert Kuttner | Posted 12.02.2014 | Politics
Robert Kuttner

Remember "Peak Oil?" The world was running out of oil, prices would soon skyrocket, and we had better find other fuels. Well, that argument didn't work out so well for environmentalists, did it? As oil reserves and those of other carbon fuels became scarce and prices rose, the law of supply and demand kicked in. The industry invested the profits from those higher prices in new technologies, and the oil barons found even more destructive ways to extract oil and gas -- by exploiting the muck from tar sands, inventing hydro-fracking, and despoiling Third World sources. So now, oil is cheaper than it's been in years, about $66 a barrel. Regular unleaded gasoline can be had for well under $3 a gallon. One of the few things sustaining U.S. consumer purchasing power in the face of dismal wages is close to $100 billion saved in energy costs. OPEC's pricing power has been broken and the United States is about to surpass Saudi Arabia as the world's largest oil producer.

Property Rights Key to Reform, in Algeria and Across the MENA Region

Sasha Toperich | Posted 11.20.2014 | World
Sasha Toperich

Algeria, the largest nation on the African continent, is pushing economic reforms in a process that is far from easy. The balance of payment, human capital development and increasing GDP growth to reduce unemployment are the current government's key concerns today.

The Climate Post: U.S., China Reach Climate Deal

Tim Profeta | Posted 11.14.2014 | Green
Tim Profeta

Two nations that account for more than one-third of all greenhouse gas emissions reached a climate deal. The United States will accelerate the pace of its net greenhouse gas emissions reductions from 17 percent below 2005 levels by 2020 to 26-28 percent by 2025.

Falling Oil Prices Reveal America's Fracking Trap -- And Saudi Arabia's Continued Energy Dominance

Alexis Crow | Posted 12.18.2014 | World
Alexis Crow

Far from leading America to a future of energy independence, the fracking boom has locked the country into a high-cost game.

Oil - A Question of Economics

Luay Al Khatteeb | Posted 10.31.2014 | Business
Luay Al Khatteeb

The recent debate over falling oil prices has become an over simplified economic question of supply and demand, ignoring other interrelated economic theories.

Hunter Stuart

Gas Hasn't Been This Cheap In Nearly Four Years

HuffingtonPost.com | Hunter Stuart | Posted 10.28.2014 | Business

At most of the nation’s gas stations (56 percent), the price of gas is now under $3 per gallon.

OPEC Is Over

Raymond J. Learsy | Posted 11.29.2014 | Business
Raymond J. Learsy

Without enormous discipline in a vastly oversupplied market an OPEC as constituted today is no longer viable.

Oil Prices Plunging! President George H.W. Bush Where Are You As We Need You!

Raymond J. Learsy | Posted 10.21.2014 | Business
Raymond J. Learsy

To the deep consternation of the oilogopoly and their kindred and influential allies in government and finance the price of oil has been dropping precipitously.

Ben Walsh

Falling Oil Prices Are Good News For You And The Economy

HuffingtonPost.com | Ben Walsh | Posted 10.16.2014 | Business

The bad news is that oil is falling just like the stock market. The good news is that falling oil prices can help keep things from getting worse.

What Oil Price Got to Do, Got to Do With It? (10 Things to Remember About Oil Prices)

Carl Pope | Posted 12.15.2014 | Green
Carl Pope

The collapse of soaring oil prices signaled the beginning of the 2008 Great Recession. This milder repeat performance is not so confusing if we look at the basics -- and remember that what counts about oil is not where it is produced, or exactly how much we need, but its price.

Saudi Contrition Fighting Terrorism: Much Too Little, Much Too Late

Raymond J. Learsy | Posted 10.18.2014 | Politics
Raymond J. Learsy

Has Washington continued be lulled into silence by the millions of Saudi contributions to myriad Beltway think tanks and their lobbying influence, or for those fund strapped 'American Presidential Libraries' who have been the recipients of millions of Saudi largesse?

'NYT' Op-Ed Militates for Higher Oil Prices and Fewer American Jobs

Raymond J. Learsy | Posted 09.25.2014 | Business
Raymond J. Learsy

Mr. Steven Rattner demonstrates that he lives in an oil industry induced fantasy whose preachments have seduced the public, our government, our press in the misguided belief that the price we are paying for oil is a market derived price reflective of actual supply and demand. Nothing could be further from the truth.

The Bad News From Iraq Is Getting Worse

T. Boone Pickens | Posted 08.13.2014 | Politics
T. Boone Pickens

Now people are calling for us to step in again to protect Iraq -- to spend more money and risk more of our soldiers lives... for what?

Does Obama's Iraq "All Options on the Table" Include The Strategic Petroleum Reserve?

Raymond J. Learsy | Posted 08.13.2014 | Business
Raymond J. Learsy

The most direct way of defusing the political and interventionist pressures of the current mayhem in Iraq would be to release significant volumes from our Strategic Petroleum Reserve which currently harbors in excess of 700,000,000 bbls of oil.

It's About Time, Again

Paula Gordon | Posted 08.06.2014 | Politics
Paula Gordon

For those who judge their financial interests or ideological blindness to be more reliable than evidence, American energy policy has been a success. For the rest of us, it has been clear for decades that the policy is an abject failure.

Should U.S. Lift Limits on Oil Exports? Depends Who You Ask

Daniel J. Graeber | Posted 07.30.2014 | Business
Daniel J. Graeber

Depending on whose talking, lifting the longstanding limits on U.S. crude exports would be a boon to the economy and a benefit to U.S. drivers, or it would increase U.S. reliance on imported oil and weaken America's foreign policy strategy.

Iran Says OPEC Needs to Make Room for Its Oil

Daniel J. Graeber | Posted 07.19.2014 | Business
Daniel J. Graeber

Iran is serious about achieving a position on the international stage that's reflective of its reserve potential, the country's oil minister, Bijan Zanganeh, told an international energy summit in Moscow.

The New Monetary Standard

Aurelia Condrat | Posted 07.05.2014 | Business
Aurelia Condrat

Without any doubt in this moment we can not talk about the dollar but about the "energo dollar" or "petrodollar," currencies that are not within reach of the common people which ultimately bring prosperity.

Iran Expanding Presence on International Oil Stage

Daniel J. Graeber | Posted 06.14.2014 | Business
Daniel J. Graeber

Iranian Oil Minister Bijan Zanganeh said oil production from the Islamic republic could increase even with harsh economic sanctions in place. In late December, Tehran said it would pump as much oil as it could if sanctions are lifted. Now, it seems, OPEC is taking notice.