OPEC on Wednesday agreed to slash 2.2 million barrels from its daily production - its single largest cut ever - while bloc outsiders Russia and Azerbaijan announced their own cutbacks of hundreds of thousands of barrels from the market. ...more

December 18, 2008

Financial markets extended their declines Tuesday, with the Dow falling more than 150 points, as investors worried that lawmakers were beginning to doubt the necessity of a broad government bailout for financial institutions as a way to revive ailing credit markets. ...more

September 24, 2008

Federal regulators said Thursday after a lengthy review that they could not determine how much speculators have influenced commodity prices, especially the run-up earlier this year in oil prices. ...more

September 12, 2008

It is no secret that the airlines are hurting as they try to cut costs by charging more for baggage, eliminating movies, meals and other perks that customers assumed were normal when they flew. Some small general aviation aircraft pilots and flight instructors are paying $6 per gallon for aviation fuel. The octane of this small aircraft fuel is similar to automotive Regular (80-87) with a slight boost calling it 100LL (low lead.) ...more

August 7, 2008

Sometimes political parties play to type so perfectly that it's almost charming. Consider the completely predictable responses of Democrats and Republicans to the record prices of oil. ...more

August 3, 2008

Congress appeared deadlocked Wednesday on responding to the nation's energy problems amid a bitterly partisan rift over whether to open long-restricted offshore waters to oil and gas drilling. ...more

July 31, 2008

John F. Kennedy spoke these powerful words of wisdom that are enshrined in my home, "We have the power to make this the best generation in the history of mankind, or to make it the last." The United States of America now stands on the precipice of its most perilous predicament since the Great Depression. There are new dangers and numerous frightening parallels in contemporary America with those of the late 1920s. Unemployment is increasing at an alarming rate. The stock market is growing weaker. Banks and lending institutions are struggling to survive. The unhealthy speculation in the oil market by huge pension funds (and others) is similar to the more generalized speculation euphoria of the 1920s, which led to such a calamitous scenario. The dollar is weak against most of the major currencies of world. The cost of a protracted and unnecessary war in Iraq has directly resulted in an unconscionably huge national debt –– a debt of such obscene size that it will place an economic noose around the necks of American children and grandchildren. The unwillingness of our national leaders to aggressively pursue the development of alternative energy sources to replace the rapidly depleting supply of oil throughout the world places us further behind in our quest to become energy efficient and independent. (No, there is not enough oil in untapped oil fields in Alaska to supply our needs for 200 years. Anyone who truly believes such nonsense, in an environment of worldwide gas guzzling demand, needs to a revisit high school science class and college Economics 101.) ...more

June 12, 2008

and are thus out of the cartel's control. ...more

December 17, 2007

Lyle Lovett has recorded gold records, acted in films and traveled the world playing music. ...more

September 21, 2007