…to Iran, only, until such time as our transaction with Iran is 100% complete,” he added, referring to ongoing diplomatic efforts to secure a negotiated peace. Oil prices plunge Oil…

Yesterday, Karl Smith posted on Oil and the Structural Recession. This seems to be one of Karl’s thinking-out-loud posts, with more questions than answers, some convoluted reasoning, and a conclusion…

…next year, or the year after, when they actually take possession of the oil. Buying and selling such “futures contracts” makes these companies speculators by definition, since they’re placing a…

…of oil from the Strategic Petroleum Reserve, with a less publicized release from the IEA reserves as well.  Both of these are planned to continue for several months, with several…

…consumption deflator and the personal consumption deflator excluding food and energy (AKA core inflation). The blue line is the rate of growth of the price of crude oil in West…

…facts (which it doesn’t even acknowledge). The Journal article suggests that the idea (set forth in some Big Oil/Fracking states) of replacing income taxes with revenues from oil and gas…

…15 2012. The blue line is the monthly percent increase in the price of a barrel of West Texas intermediate crude oil divided by 10 to fit it on the…

…be able to avoid pejorative terms such as “windfall” or “excess” profit tax, because the tax is neither confiscatory nor punitive. With higher gas prices, oil companies will make record…

…the oil companies, private and state-owned, have current reserves on the books equivalent to 2,795 gigatons — five times more than we can ever safely burn. It has to stay…

…incomes and consumer spending. We experienced a mini oil shock, which has dampened the whole economy. Actually, it’s worth remembering that oil shocks and inverted yield curves, along with falling…