With Greece on the verge of default, we’re about to learn how little has really changed since governments around the world wrote the last round of bail out checks to prop up failing financial institutions. Just as the collapse of the US subprime mortgage market rippled into nearly every corner of the global financial system, [...]
Governor Arnold Schwarzenegger and his Midwestern colleagues had better think twice before banning carbon-dirty fuels such as the oil made from Canadian tar sands. If they don’t like the fuel Canada has to offer, their only other choice is to get off the road entirely. Like it or not, synthetic oil from Alberta’s tar sands [...]
It’s always easier to blame supposed culprits than it is to face unpleasant facts. Take today’s oil prices. Consumers complain about price gouging by oil companies. Oil companies point the finger at government restrictions on drilling activity. Governments blame speculators, while the latter blame the ever-weakening US dollar. There is certainly no shortage of blame [...]