Posts Tagged ‘oil

Blame Jeff Rubin and his book for waking us all up with the spectre of our never-ending underground ocean of oil getting scarce and expensive. A good read. You’d be surprised to know how much of the world of people and businesses is comprised of oil. You’ll shake your head while reading. And it’s us he’s writing about. Oil is the blood of business and daily living. Once it’s burned, it’s gone and we burn a lot of it every day.

An economics writer, Megan McArdle, has this story on an International Energy Agency (IEA) report on the demand and supply of oil over the next decade or two. She quote’s the leader of the IEA report as saying, “This is a dangerous situation.” That should wake us up. Oil will, to put it mildy, get pricier. You can take that to your petro-bank.  The McArdle story here, in the Atlantic Online. Sell your V8. Buy a bike. That trip to Europe looks like it won’t get any cheaper.


The cost of money between world banks is at a new high in the world credit crisis as measured by the London interbank offered rate (Libor). It indicates the credit problem is not just an American issue.

The Libor is at 6.88 per cent this morning, one day before American lawmakers in the House of Representatives are expected to vote on an adjusted bailout package for banks.

Word slowdown indicated as a U.K. purchasing index falls to its lowest level in 17 years.

Oil is up to $102 a barrel this morning, and one interesting sign – in one story, gold traders see modest gains, six per cent, for the precious metal over the next year.

From Bloomberg: American housing prices still dropping, even more quickly, about 16 per cent in July. As the credit crunch tightens and it gets more difficult to get into a mortgage, sales for those lower-priced homes won’t pick up quickly.

The price of oil is below $100, settling at $95. Yet gas at the pump, spiking due to concerns that Hurricane Ike might wreak havoc on Texas oil refineries (uh-huh) has not gone down. Economics works like that? If the refineries are okay, why hasn’t gas come down?

Editorial, Toronto Star. Suggests some sort of regulation should be considered.

Sun Comment. Edmonton Sun in helpless fury over spike in gas prices.

Atlanta Journal-Constitution. On why Hurricane Ike sent gas prices up.

Canadian Press. Ike light, but gas spiked.

CBC. Fill up the car or wait?


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  • wordbeeps: No, he doesn't deserve an apology. Who tweets during a funeral? If you do, expect feedback. I didn't say the mourners were faking it. I think they we
  • Holly Stick: Look you fuckwit, are you too stupid to realise that Ghomeshi was an actual friend of Layton's, when you tweeted to him that the mourners were faking
  • aardvarkcola: Thank you. I see the rest of your message now. i'm honoured to to have your words on my blog. That alone is a delight. Lawrence