Clearly, with oil at $100-plus per barrel, the energy experts were wrong. And, as it turns out, the classical economists were wrong about how energy affects the economy.
After more than four decades, it looks like America is getting back into the oil export business again.
Futures prices for both crude and gasoline were down yesterday. Unfortunately, that barely tells the real story.
The conflict in Iraq is escalating beyond all hope of control – and it’s impacting a huge number of investments worldwide.
Here’s a question that never seems to die. In fact, with the chaos going on in Iraq, it’s on everybody’s mind again this morning.
Everyone wants to know why the price at the pump just keeps going higher.
First there was the crisis in Ukraine. Then, seemingly out of nowhere, Iraq exploded into chaos again.
Both testify to one simple truth about today’s energy sector: Geopolitical factors are the quintessential wild cards when it comes to estimating energy prices.
Pundits have been quick to label last week’s mammoth gas deal between Russia and China as “historic.”
That may be true. But the fact is there are a number of important elements in the $400 billion agreement that have yet to be decided.