A couple of years back the Congress decided that a good way to deal with our dependency on foreign oil was to start using lots and lots of domestically produced ethanol in our cars.
The energy issue of the week is whether high gasoline prices are being caused by supply no longer being able to keep with demand or by speculators garnering untoward riches at the expense of hardworking motorists.
In recent weeks, airlines around the world have been reporting substantial losses, declaring bankruptcy or completely shutting down. So far the losses have been mostly of small airlines, but many of the large ones have started to thrash around for merger partners. At $3.71 a gallon, jet fuel is now […]
During the past week, the surge in oil prices continued with crude, gasoline and diesel prices all hitting new highs.
Friday’s employment report — which was so weak that it had many economists declaring that we’re already in a recession — was bad news. But it was actually less disturbing than what’s going on in the financial markets.
A new financial player has emerged on the international finance scene. Known as Sovereign Wealth Funds (SWFs), these state-controlled investment vehicles, fueled largely by record oil profits, are having a big impact on the U.S. economy and beyond. To help our nation respond to these new actors in international finance, […]
The President’s 8th and final budget was released this week. It charted a familiar path: more deficit spending, a failure to include the costs of off-setting alternative minimum tax (AMT) relief, a failure to include the true costs of the war and a failure to provide pay parity for our […]
The operative word this week was not “recession,” but “panic.” It even made it into the banner headline of the Washington Post. A “cat crossed your grave” shudder swept over the planet at the beginning of the week, sending markets reeling and investors running and screaming in the streets from […]
Let’s start with the obvious. Unless something very bad happens this year – a big meteor strikes the earth, a good sized war in the Middle East, or a major sabotage operation– we are likely to consume another 31 billion barrels of oil or, as we call it these days, […]
The hallmark achievement for the “New Direction” 110th Congress so far has been passage of the Energy Independence and Security Act, a historic bill that will make America more energy independent, responsive to the global warming crisis, while also continuing to grow our economy.