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Opinion: There's No Silver Bullet for High Gas Prices

American motorists can't be blamed for viewing the current jump in gasoline prices as a potential precursor to even bigger problems down the road. Major oil disruptions in the Middle East have historically led to higher inflation, unsustainable negative balances of trade and recessions -- all in addition to the aggravation...

Saudi Arabia Giving Citizens a 15 Percent Raise to Avoid Becoming the Next Libya

Call it the Oprah theory of governance: Everyone gets a prize and everyone stays happy. Saudi Arabia's King Abdullah has returned to Riyadh after receiving spinal surgery in New York and recovering in Morocco. All told, the 86-year-old monarch has been away from home for three months. Now, Abdullah is offering financial...

Revolts From Wisconsin to Libya Pose Economic Threats

Americans are more confident about the state of the economy than at any point in the past three years. But the world may soon burst their bubble. The Conference Board said today that its consumer confidence index for February leaped to 70.4 from a level of 64.8 for the previous month. Though still a bit weak by historic...

OPEC Ministers Make No Change in Output

QUITO, Ecuador (Dec. 11) -- OPEC ministers decided Saturday to keep oil output at current levels, citing ample inventories amid persisting global economic uncertainty and a price of just under $90 a barrel. The 12-member cartel said after an unusually short meeting that it based its decision on projections showing demand...

Peak Oil Is Here: What Should We Do?

(Oct. 7) -- The Association for the Study of Peak Oil and Gas made a dire prediction today. The world has been extracting oil from the earth for just 150 years, but "peak oil," the point at which fuel production will begin to decrease while demand continues to increase, has finally come. "We are at the point of no...

opec News From the Web

06/02/12 Qatar's exceptionally expansionary budget Source: Gulf News Qatar's budget for fiscal year 2012-13 tells a great about the country's direction, namely racing against time to attain its potentials.
05/31/12 Argon Executive Chairman Paul Deuchar in the 2012... Source: TMCnet "Argon is merely the catalyst that affords me the ability to engage in my current ambitions of establishing the world's first non-for profit for non for profits. I believe I've found a way in which we will see the world donate a trillion dollars and a trillion man hours to worthy causes from around the globe over the next few years and beyond. It has always been my goal to become wealthy so I can give much of it away like Bill and Melinda or the likes of Warren, who are all renowned for their philanthropic endeavours.. I believe I've found a better way to do that than to simply earn it myself and distribute it and Argon is at the helm to see my vision come to life along with a core group of West Australians who've been key instigators in this mission. It seems surreal that in the same year I receive a nomination for the Entrepreneur of the Year Award."
05/31/12 FG-U.S. Oil Exports Hit U.S.$34 Billion in 2011 Source: AllAfrica.com Export of crude oil from Nigeria to the United States rose to $34 billion in 2011 from $31 billion and $19billion in 2010 and 2009 respectively.
05/31/12 Be More Responsive, Adhere Strictly to Policies, FG... Source: AllAfrica.com The Federal Government and its functionaries have been told to be more responsive and responsible, and to give priority to adherence and enforcement of policies, in a bid to curb corruption in Nigeria.
05/31/12 Citizens Mobilisation to Check Oil Corruption Source: AllAfrica.com As a way to brainstorm on the negative effects of corruption in the country, the Africa Network for Environment and Economic Justice (ANEEJ), headed by Mr. David Ugolor, recently organised a one-day roundtable on the enforcement of the House of Representatives Ad-Hoc Committee Report on petroleum subsidy.