Opec

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Oil Reaches Historic Highs While OPEC Holds Us in Contempt

Raymond J. Learsy | Posted 07.14.2008 | Business

Read More: Europe, Oil Industry, Oil Prices, Profligate Oil Consumption, India, Rail Infrastructure, Opec, China, Global Warming, Japan, Offshore Drilling, Business News

Neither our citizenry nor those in government has petitioned or acted to seriously cut back this nation's voracious oil consumption, the largest by far on the planet.

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Happy Oil Dependence Day

Robert Scheer | Posted 07.02.2008 | Politics

Read More: 4th of July, Schumer, Chevron, George Washington, Condoleezza Rice, National Security, Oil, Oil Prices, Pornography of Power, Robert Scheer, Iraq, Opec, Dick Cheney, Politics News

It was always about the oil -- that's why "we" invaded Iraq -- only "we" aren't getting any, at least not at a reasonable price. The oil companies are.

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The Saudi Oil Summit: Pipeline to Nowhere

Raymond J. Learsy | Posted 06.30.2008 | Business

Read More: Oil Speculation, Saudi Oil Minister Ali Al-Naimi, Saudi Arabia, Oil Prices, King Abdullah, Jeddah Summit, Opec, President Bush, Gordon Brown, Saudi Oil, Business News

Given the unwillingness of the Saudis and their assembled OPEC brethren to propose anything meaningful that would alter current price or supply trends, the Jeddah oil "summit" was a dud.

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Questions Energy Secretary Bodman Need Ask At This Weekend's Summit In Saudi Arabia

Raymond J. Learsy | Posted 06.20.2008 | Business

Read More: New York Times, Sovereign Wealth Funds, Opec, Saudi Aramco, Odman, Chakib Kheklil, Business News

Why are oil prices at levels that nobody seems to be able to explain, levels that seriously and negatively impact the world economy, especially those of developing countries?

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Obama Pledges Imposing "Oil Windfall Profits Tax" -- Right Message, Wrong Language

Raymond J. Learsy | Posted 06.12.2008 | Business

Read More: The Senate, Windfall Profits Tax, Nopec, Exxon, Senate Republicans, Wto, Opec, Barack Obama, Sovereign Immunity, Business News

On Tuesday, oil companies with the help of Senate Republicans showed the nation who's boss. Maybe we could shame them into doing the right thing by calling the legislation the "Cartel Profits Tax."

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WATCH: OPEC Chief: "There Is No Shortage Of Oil"

Reuters | Darcy Lambton | Posted 06.11.2008 | Business

Read More: Oil Prices, Oil Speculation, Gas Prices, Commodities Speculation, Abdullah Al-Badri, Opec, Business News

OPEC takes another swipe at speculators blaming them for driving oil prices to record highs. Speaking at the Reuters Energy Summit, the oil cartel's ...

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This Administration's Singular Achievement: Making the World Safe For Gluttonous Oil Profits On the Backs of American and World Consumers

Raymond J. Learsy | Posted 06.09.2008 | Business

Read More: Pres. Bush, Hank Paulson, Cheney, Sam Bodman, Ben Bernanke, Opec, Prime Miinister Kevin Rudd, P, V, Business News

In doing nothing, other than occasional ineffectual lip service, and worse still, supporting policies favorable to oil industry interests, they have made a bad situation far worse.

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Oil's Largest One-Day Gain On Record: Thank You, Mr. Bernanke

Raymond J. Learsy | Posted 06.06.2008 | Business

Read More: Harvard, Federal Reserve Chairman Bernanke, Opec, Oil Industry, Bernanke Oil, Oil Prices, Oil, Ben Bernanke, Business News

Basically, Bernanke signaled to the markets and the world at large that high prices were not an issue for this government, nor would they be as oil prices moved higher still.

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Our Treasury Secretary Pumps For OPEC

Raymond J. Learsy | Posted 06.02.2008 | Business

Read More: Walter Lukken, Opec, Secretary of the Treasury Hank Paulson, Saudi Arabia, Cftc, Oil, Oil Prices, Business News

Paulson' recent statement gives underpinnings to perhaps the greatest swindle in history: the current price of crude oil on world markets.

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Oil -- Congress Finally Takes Charge Yet Must do Much Much More

Raymond J. Learsy | Posted 05.29.2008 | Business

With a motivated and focused Congress, zeroing in on NOPEC legislation with enough votes to override the president's ever obstructionist veto, much could happen to solve our energy and global warming nightmare swiftly.

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Oil Shock: Mexico and China Not Exxon Stupid

Diane Francis | Posted 05.26.2008 | Business

Read More: Oil Shock, British Gasoline Prices, Hillary, Canadian Gasoline Prices, Supply and Demand, Mexico, Commodity Boom, Russia, Oil, Gasoline Taxes, Mccain, India, Ethanol, China, Opec, Business News

The biggest reason prices have been soaring is that astute investors are now understanding the future supply and demand reality.

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The Politics of Bad Ideas: The Curse of Reaganism

Bryan D. Jones and Walter Williams | Posted 05.23.2008 | Politics

Read More: Bush Economy, Ronald Reagan, Opec, George W. Bush, Tax Cuts, Republican Propaganda, Reaganism, Republicans, Bush Tax Cuts, Politics News

America must come to realize that Reaganism is the philosophical underpinning of our woes. They are due to George W. Bush's mismanagement, but more fundamentally, by our slavish worship of flawed political philosophy.

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Paul Krugman and the New York Times' Pious Pontifications at the Pump

Raymond J. Learsy | Posted 05.16.2008 | Business

Read More: France, American Petroleum Institute, New York Times, Paul Krugman, Opec, New York Times Op-Ed, Ant-Trust, New York Times Oil Reporting, Oil Prices, Business News

According to Krugman the high oil prices as we now know them are a legitimate reflection of market forces. Simple as that. Economics 101. Oh, for the good old days.

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The Why of Chokingly High Oil Prices: Bush Together with Saudi Arabia Spells Disaster for America

Raymond J. Learsy | Posted 05.12.2008 | Business

Read More: Straits of Hormuz, Secretary Bodman, Strategic Petroleum Reserve, Cftc, King Abdullah, State of the Union Address, Opec, Sheik Ahmed Zaki Yamani, Secretary Gates, Iran, Saudi Aramco, New York Times, King Abdul Azziz Order of Merit, Department of Energy, President Bush, Ali-Al- Naimi, Business News

As our so-called friends in Saudi Arabia watch our economy sink into recession, it's clear that the price of Mr. Bush's friendship has become frighteningly expensive to us and the rest of the world.

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US Puppet State Dances on OPEC's Strings

Henry Blodget | Posted 05.09.2008 | Politics

Read More: Oil, Oil Prices, Opec, Politics News

Where have our benighted energy policies of the last eight years left us? On our knees--begging OPEC to please, pretty please, open the spigots and pump more oil.

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Senate Dems Counter-Pander

David Roberts | Posted 05.07.2008 | Politics

Read More: Renewable Energy, Energy, Gasoline, Gasoline Prices, Gas Tax Holiday, Democrats, Opec, Windfall Profits Tax, Politics News

Perhaps a politician or two might try finding out what happens when you treat voters like adults and tell them the truth. The era of cheap energy is ending.

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Clinton: OPEC Can No Longer Be A Cartel

The Politico | Ben Smith | Posted 05.05.2008 | Business

Read More: Opec, Clinton OPEC, Hillary Clinton OPEC, Business News

Clinton's attacks on oil prices as artificially inflated, Enron-style, keep escalating, and today she appeared to threaten to break up the Organizatio...

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The New York Times' Hidden Hand On Oil's Agenda

Raymond J. Learsy | Posted 04.25.2008 | Business

Read More: NY Mercantile Exchange, Bp, Futures Markets in Oil, John Hess, Saudi Arabia, Jad Mouawad, New York Times, Opec, President Bush, International Energy Agency, Leon Hess, New York Times Oil Reporting, New York Times Oil, Business News

Leave it to the New York Times and Mouwad to convey the imprimatur of what once passed for serious journalism to this greatest of all con games.

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OPEC chief: Oil prices would go higher regardless of supply

AP | MARIA GRAZIA MURRU | Posted 04.20.2008 | Business

Read More: Oil, Oil Prices, Opec, Opec Chief, Oil Prices Higher, Oil Price Up, Business News

ROME — OPEC Secretary-General Abdullah el al-Badri said Sunday oil prices would likely go higher and that the group was ready to raise productio...

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Hugo Chavez's Very Excellent Windfall Oil Profit Tax

Raymond J. Learsy | Posted 04.17.2008 | Business

Read More: Petroleos De Venezuela, Hugo Chavez, Sovereign Wealth Funds, Opec, Commodity Trading, Venezuela, Adam Smith, Windfall Profits, Oil, Windfall Profits Tax, Business News

Hugo Chavez is not a friend of ours, but he does come up with some good ideas, since we are dealing with a commodity that has left all ballast of free market determination far behind.

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Victory in Iraq! Oil Over $100 Barrel and 35 International Oil Companies Vying To Bid On Iraqi Oil Projects

Raymond J. Learsy | Posted 04.14.2008 | Business

Read More: Sovereign Wealth Funds, Sen. Carl Levin, VP Cheney, Halliburton, Katrina, Iraq, Presidernt Bush, Opec, Iraq Oil Production, Wehrmacht, Oil Industry, Big Oil, Oil, Oil Prices, Business News

Only three years ago even OPEC was talking with embarrassment about oil prices exceeding $50 a barrel as our descent into the hell of Iraq continued unabated.

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Commodities are No Country For Old Men

Richard Thomas | Posted 04.09.2008 | Business

Read More: Emerging Economies, Video, Bullet Tooth Tony, Crude Oil, No Country for Old Men, 3com, Commodities, Port Congestion, Palm Oil, Joseph Ackerman, Opec, Uncoal, Snatch, Cfius, Business News

The commodity market will continue on its course for the foreseeable future as misalignments in trust, confidence, and expectations continue to violently adjust.

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As Oil Touches All-Time Highs, Our Deparment of Energy Takes Us For Fools

Raymond J. Learsy | Posted 04.09.2008 | Business

Read More: OPEC President Khelil, Senator Byron Dorgan, Saudi Arabia, VP Cheney, New York Times, Secretary Sam Bodman, Senate Energy and Natural Resource Committee, Department of Energy, President Bush, Opec, The Administration, Oil, Oil Prices, Business News

If there is an administration strategy, its focus is not getting at more oil -- it is laying the groundwork for and successfully rationalizing to a gullible public the ever skyrocketing oil prices.

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Iran to OPEC: Stop Oil Sales in Dollars

AP | Posted 04.07.2008 | Business

Read More: Abdalla Salem El-Badri, Oil Prices, Mahmoud Ahmadinejad, Mahmoud Ahmadinejad OPEC, Oil Cartels, OPEC Oil, Crude Oil Prices, Opec, Business News

TEHRAN, Iran — Iranian President Mahmoud Ahmadinejad is urging OPEC members to form a joint bank and stop pricing oil trades in U.S. dollars. A...

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Cheney Greets King Abdullah In SaudiLand With High Fives As Oil Sails Past $100 Per Barrel

Raymond J. Learsy | Posted 03.27.2008 | Business

Read More: Epa, Pres. Bush, Teapot Dome, Energy Task Forcee, Bp, Department of Energy, Saudi Arabia, Enron, VP Cheney, Exxonmobil, King Abdullah, American Petroleum Institute, President Harding, Washington Post, Opec, Business News

If anything can be called a success in these bleak seven years, it is the oil industry's triumphal avalanche of riches, having been orchestrated with the White Houses' blessing.

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