Tag Archives: oil

Middle East, Obama, and oil

The Kimmeredge oil well. Is raising the price of oil a motive to let the Middle East erupt in flames?

After all that has been written and said about Obama and the Middle East crisis, the entire ordeal still mystifies me.

Credit rating: another US downgrade

A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with.

A credit rating agency that no one notices, downgraded US treasury securities again. They had already downgraded American bonds to AA. The new rating is AA-, the lowest rating that the American public debt has ever carried.

Quantitative Easing: Theft!

A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with.

Ben Bernanke, head of the Federal Reserve, announced another round of “quantitative easing” yesterday. The Fed will buy $40 billion worth of mortgage-backed bonds every month, until further notice. When he said that, stocks and commodities (including oil and precious metals) both rose in price. Bonds, especially the longer-term bonds, went down, and their yields went up. This “quantitative easing” program will not and cannot add more wealth to the economy. Instead it will steal a lot of wealth, mainly from the poor and especially the middle class, for the temporary benefit of stock investors.

Strait of Hormuz to close?

Flag of the Islamic Republic of Iran. Did Obama try to wangle an October Surprise in Iran? Maybe, but he probably didn't get it.

Officials from Iran threatened the world with another oil shock over the weekend. A ranking general said that he had plans in place to close the Strait of Hormuz. The Majlis, or parliament, is debating a bill to do just that. But the Arab countries in the Persian Gulf region are looking for ways to bypass the Strait of Hormuz. And the US Navy has its own plans to keep the Strait open.

Energy secretary wants high prices

DOE logo. Did the DOE improperly lend money to Solyndra under White House pressure?

Four years ago, Energy Secretary Steven Chu said flatly that he wanted to see motor fuel, heating oil, natural gas, and other prices rise. In fact, he said that he wanted to see motor fuel prices rise to levels that Europeans pay. No one noticed then. People are noticing now.

Oil prices, embargoes, and lies

The Kimmeredge oil well. Is raising the price of oil a motive to let the Middle East erupt in flames?

Oil prices have more than tripled from recession-era lows, and motor fuel prices have more than doubled. The last time prices were so high, a certain US Senator from Illinois used that against the then-incumbent President and that same Senator’s eventual opponent. That Senator is now President. Now he seems to want oil prices to stay high.

Bader Qarmout announces NJ Senate run

Bader Qarmout vs. the Gang of 8

Bader Qarmout, immigrant from Jordan, resident of Sparta, NJ, and CNAV contributor, announced yesterday his run for the New Jersey Republican Senate nomination. New Jersey has not elected a Republican to the United States Senate since 1972 (Clifford Case). Bader Qarmout is confident that he will break that long losing streak.

Keystone Pipeline politics

Flag of Canada

Yesterday, Barack Obama rejected the Keystone Pipeline application, saying that Nebraska wasn’t ready. But is he playing a triple game?

Ron Paul Pro and Con

Ron Paul at CPAC in 2010

Ron Paul gives people many reasons to recommend him or to decry him. But to judge him properly, one must argue honestly and thoughtfully. Many of the arguments that some have offered against him are specious. But Ron Paul as President would present other real problems. The question becomes: how bad would those problems be, could men of good will work around them, and what other problems would he solve?

Israel’s oil could provoke next war

How should Israel feel about trusting Putin's Bitch?

Does Israel have oil? The very phrase Israel’s oil could change the game in the Middle East—and provoke all-out war.

Could Israel really have oil?

The Zion Oil and Gas Company has been looking for oil along the Mediterranean coast, and just south of the Sea of Galilee, for several years. Two days ago they announced that they had drilled a test well in their Joseph License lands (between Haifa and Tel Aviv) to 5900 meters. They earlier found large hydrocarbon deposits at the site, usually a good sign.