With its bombshell consolidation announcement on Sunday, Kinder Morgan Inc. (NYSE: KMI) has suddenly become the third-largest energy company in America.
More than 40 years ago, during another bout with a sputtering economy and a declining dollar, I made a remark that drew a fair amount of attention. At the time, I had my own radio talk show in Chicago.
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.