Relevant and even prescient commentary on news, politics and the economy.

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The Rule of Capture and Legalized Theft

…an oil deposit underneath both our properties, if I stick a drill on my property, anything I suck out of there belongs to me. But oil (and natural gas and…

Barter part 1

…is what is happening with other commodities, oil, for example. Oil producers will eventually have a problem: They will not be able to produce oil at cost! Why? In part…

Oil Analysis

…Secretary Sam Bodman said Wednesday it will take years to close the gap between increasing world oil consumption and the ability of oil producers to meet that demand. “I think…

Forecasting Oil Prices

…still has this version: $55 Oil Won’t Last…Ultimately, the answer to high oil prices is a lot more production. That’s exactly what the Bush administration intends to do. It seems…

The Supply of Oil

Eric Chaney and Richard Berner of Morgan Stanley pose this question: Why haven’t oil prices fallen more in recent months? Most forecasts made late in 2004 for oil prices had…

Oil and water do not mix to our benefit

…problem with drilling in the Galisteo Basin is soil and water pollution. Tecton, the Texas company drilling in the basin, claims to have new, cleaner technologies. But oil and gas…

Crude Oil Reserves Fall

…factors like OPEC+ production decisions and global demand fluctuations. U.S. Crude Oil Stockpiles Fall Less Than Expected, WSJ – Anthony Harrup U.S. oil inventories fell by 1.2 million barrels last…