How deep is the hole the oil industry is currently stuck inside? To figure that out, you only need to look as far back as last week, which saw another two trainloads full of oil derail and storage numbers that put U.S. crude stocks at record highs Every new pipeline leak or train derailment puts [...]
With oil prices within spitting distance of triple-digit levels (Brent traded over $99 per barrel last week, while West Texas Intermediate was north of $90 per barrel), it may be time to reconsider just how long this recovery will run. The fact that we’re seeing oil at triple-digit prices in this cycle should come as [...]
2010 left us all with a mountain of debt. Whether you’re a taxpayer in the UK, Ireland or the US, it must already be pretty clear that you’re on the hook for a lot of IOUs borrowed from your future. You may not have borrowed the money yourself, but your government has already done it [...]
A $10-per-barrel drop in oil prices seems a curious response to the ongoing disaster at BP’s Deepwater Horizon wellhead, and to its potentially devastating repercussions on future world oil supply. But when the Dow loses 1,000 points in the same week, there’s obviously something else going on. If the world’s economic outlook is the same [...]