The odds are now better than even that the U.S. economy is sliding or has already slid into a recession. The housing market downturn and sub prime mortgage crisis are the catalysts for a major economic downswing that looks to last well into 2009. The latest retail reports indicate a […]
While waiting to see how the contest between a demand-killing recession and shrinking oil stockpiles plays out, it might be worthwhile to spend a little time reviewing the world’s electricity situation. If there is any form of energy that would be sorely missed by people who had once had it, […]
The evidence is growing that it is going to take a really major event to get America out of its beloved and seemingly essential automobiles. Even with gasoline running a dollar a gallon higher compared to this time last year, consumption is holding about the same or even creeping up […]
SHANGHAI, China — Let’s say you were born in China. You’re an only child. You have two parents and four grandparents doting on you. Sometimes they even call you a spoiled little emperor.
In China, small privately or locally owned oil refineries are called “teapots.” Unlike the giant ones that refine hundreds of thousands of barrels each day, these little fellows typically process about 10,000, but taken together, they produce some 10-15 percent of China’s refined products. Reduce the teapots’ production and you […]
As the United Nations’ Secretary General Ban Ki Moon travels to Darfur to see conditions there in advance of the deployment of U.N. peace keeping forces, we are once again reminded of the indispensable role of this international institution in our troubled world today.
Last week they began kidnapping foreign workers at an alarming pace —22 foreigners kidnapped in 36 hours— and overran offshore platforms and production ships. On Monday, the strongest militant group issued a chilling ultimatum. “All foreign and local nationals working with multinational oil companies and their contractor should vacate Ijaw […]