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Force Majeure: Libya Oil Exports Move Explained

It's in the contract. Global commodities traders are reporting disruptions of crude oil import and export activity in Libya, Reuters reports. According to the traders, Libya has declared force majeure on shipments in some ports, effectively halting some normal market activity. Force majeure (literally, superior force) is...

Opinion: Economy Got You Down? Don't Blame China

In light of the state visit of Chinese President Hu Jintao, there has been and will continue to be no shortage of commentary on the need to somehow force China to "redress" its trade imbalance with the U.S. and stop its alleged currency manipulation, so as to spur economic recovery. The best economists can and do argue...

Opinion: Devaluing the Dollar -- A Fool's Errand

(Dec. 15) -- Last month, Federal Reserve Chairman Ben Bernanke argued that the Fed's latest attempt to get the economy improving at a quicker pace -- a second round of quantitative easing (widely dubbed QEII) -- would help create "a virtuous circle" stemming from lower long-term rates, greater investment, higher stock...

Opinion: What's It Going to Take to Heal the Economy?

(Aug. 10) -- What is it going to take to heal America's ailing economy? That is a problem I have been working on since the recession began. Now I am honored to be called upon by our president to help provide a solution. I was recently appointed by President Barack Obama to serve on the President's Export Council (PEC)....

Surge in Ports' Cargo Traffic Lifts Hopes for US Economy

LA JOLLA, Calif. (June 11) -- With roughly 40 percent of U.S. container cargo imports unloaded onto their docks, the ports of Long Beach and Los Angeles are among the most vital economic arteries in the nation. And at a time when other parts of the American economy appear to be struggling, this one is pumping strong. The...