Posted tagged ‘Oil’

Russian Prez Medvedev orders end to fighting

August 12, 2008
President Medvedev addressing Russian audiences

President Medvedev addressing Russian audiences

Russian president Dmitri A. Medvedev has ordered his country’s military operations to cease in Georgia. However he did not say his troops were pulling out of Georgia. He said the Russian troops will continue to fire upon any enemies in Southern Ossetia.

Reports on the ground say that Russian troops are digging in around Georgian cities. There has been no cease fire yet. A Russian withdrawal will only come when a formal cease-fire has been reached added Medvedev. Only an hour after Medvedev spoke on television bombs were heard falling over the Georgian city of Gori, near Tbilisi.

It seems that there will be no bull out of Russian troops from Georgia yet. We will have to wait and see what the Russian’s next move will be. We do however have new information on movements by the Russian forces, including paratroopers landing in a port city. (more…)

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Should American Airlines be American owned?

July 11, 2008

I’m not talking about selling AA to a foreign investor, I’m talking straight up communism.

Should we nationalize the airlines? Now you’ve probably heard all the news on CNN or in the New York Times about how airlines are losing hundreds of millions of dollars a year. The only reason they’re staying afloat is because of the fact that the U.S. government, using your tax dollars is making sure these companies don’t go bankrupt.

Meanwhile the CEO makes $6,500,000.00 in a failing business. Now talk about overpaid and under performing. A-rod, you’re off the hook. When your company is losing $328,000,000.00 do you really think you deserve making six figures?

You’re probably thinking, lets nationalize already! This is such a joke. However, think about that…. (more…)

Oil’s Well that Ends Well

June 9, 2008

President Bush, The Democratic Congress, The Saudis… what do they all have in common?

They’ve all tried to lower gasoline prices, and they’ve all failed… so far. Yes the Saudis are attempting to lower oil prices, why? Well when you think about it, if oil is so expensive no one wants to buy it, then it’s bad for business, I doubt many would lose sleep over the poor Saudis suffering a bit. Well recently they’ve called for talks saying that the current price of oil is unjustified.

The price of oil fell $4.19 to $134.35 today on the NYSE. Now you want to know what that means for you. Not much really unless you process and refine crude oil, you want to know how much gasoline costs. Well the price of gasoline doesn’t directly correlate with the price of oil. It will rise when oil rises, but usually after some time, it will also drop accordingly.

For every 30 dollars that the price of a barrel of oil goes up, add a dollar to the number at the pump. Just know that for the time being the price of gasoline shows no signs of dropping under $4.00 a gallon nationally. I know I personally pay around $4.21 for gasoline here in New York City.

There have even been talks about $5.00 a gallon gasoline soon, they aren’t too far off. In San Diego gas is around $4.50 a gallon, and we all know gasoline prices go up in the winter when most of that crude oil is used for heating.

In the near future we’ll be paying $6-$7 per gallon, so if you own an SUV I really hope you can sell it, or that lease is about to expire. Now is the time to buy a hybrid, to change your driving habits, and to even… dare I say it? Take public transportation, *gasp* even walking *oh no!*

Less than 10 years ago gas was 1.20 a gallon. Gas has passed an average of $4.00 a gallon nationally. You think your wallet is hurting? In the UK they’re paying £1.14 per liter, or $8.56 per gallon. In Norway, they’re shelling out $10.37 per gallon.

If you want some relief head to Turkmenistan which just guaranteed gas, water, electricity, and salt for the citizens of Turkmenistan until 2030.

I’m walking everywhere I can, and if I can’t walk I’ll bike. The MTA is number 3 on the list, followed by the car. What are you doing to save money on gasoline?

Dow Down 400 Points, Oil Jumps $10

June 6, 2008

Nick Roloson here, financial correspondent reporting from Wall Street

After watching the closing bell and seeing these numbers…I really don’t know what to say about this. I wanted to write here out of anger, but I’m merely speechless. The Bush Adminstration is doing absolutely nothing to assist in this ailing economy. It is by far the most important issue in this campaign, and yet John McCain still manages to find Barack Obama and the Florida Everglades to be his most important issues. Senator McCain has an incredibly distorted view of economics. Not only was he humiliated at a Republican debate by Congressman Ron Paul by displaying completely idiocy when it came to questions on the economy, but he has shown time and time again to have no knowledge of anything economics-related. If you find that George Bush has been really helpful to the American economy, then vote for McCain. But if you think that America needs to restore its economic standing in the world, then we need to elect Barack Obama to the White House. What are your thoughts on the economy?