“Oil rises on troubles in Georgia…” The headline is a sign of our time. Today, the world believes in money. In economics. In material progress. Everything else takes second, third, or fourth place. It is easier to see small changes in the price of oil than big changes in the way you look at the world.
August 12th, 2008 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "price of oil"
Price of Oil has Gone Up 40% and 75% of Americans Blame George W. Bush
We hate to kick a man when he’s down. But we like kicking George W. Bush so much, we’ll make an exception. Better yet, we’ll prop him up…just so we can have the pleasure of kicking him down again.
June 30th, 2008 | Bill Bonner | 0 comments | Continued
The Price of Oil is in a Bubble
The main reason for the lowering of the forecast is a sharp increase in commodity prices and in particular the price of oil, which Fed officials fear could ignite inflation expectations and lift the underlying rate of inflation. On Friday, May 23, the price of oil closed at around $132/barrel. The yearly rate of growth of the price of oil jumped to 106.3% from 72.9% in April.
June 5th, 2008 | Frank Shostak | 2 comments | Continued
Price of Eggs Go Up as Oil Prices Go Up
The price of eggs has gone up 30% in the last 12 months. Why the big increase? Because the things that go into making an egg have gone way up – feed for the chickens, heat, light, and transportation.
June 4th, 2008 | Bill Bonner | 3 comments | Continued
Why the Oil Price Will Correct Itself
You’ll recall, dear reader, some time ago we guessed that the feds’ efforts to keep consumers consuming were essentially inflationary…and that the inflation they caused would tend to go more into gold and oil than into economic growth or asset prices.
May 16th, 2008 | Bill Bonner | 7 comments | Continued
The Price of Oil Explained by ‘Astrology’
The price of oil rocketed up in New York overnight, busting through US$120 before settling just below at US$119.67 by the time trading got going this morning in Sydney. Spot crude oil is up 53% in the last year.
May 6th, 2008 | Dan Denning | 1 comment | Continued