What’s up with gold? Is its bullish run finally over? The price of gold peaked at about $1,900 last August. It is currently at about $1,625, a fall of 15%. Fidelity says the fall happened because gold has fallen more on signals that inflation was contained than it has risen on signals that inflation remains a threat.
North American natural gas companies are facing a world of hurt. The problem is too much supply. And it’s going to get worse before it gets better, as American and Canadian storage capacities get filled up.
Why is oil costing us so much? The answer could just lie in the production hits crude supply has taken over the years, beginning in 2005.
If the USEPA allows fracking to get off the ground under a tighter environmental regime that still allows producers to skip a profit, it will give the US economy a huge lift.
When I was growing up most people loved “the bomb.” It was our shield… our security blanket… and our ultimate weapon of choice against what was then called the “Red Menace.”
Then in the early 1960s we found that the ultimate weapon had a peaceful sidekick: The ultimate energy source. The US was still in its pre-Vietnam euphoric days of believing in endless possibilities.
Major shale gas producer US is looking for a partner. So far it’s the only nation that is engage in widespread exploitation of shale gas (much to the dismay of local environmentalists).
Saudi Arabia just might be serious about pushing oil prices down to more reasonable levels. It reportedly has hired 11 supertankers in the last few days, which will set off for US ports in the Gulf of Mexico in the next few weeks.
The US, with Britain’s help, is planning on releasing emergency oil reserves into the market. The US government tried the same thing last summer. It released 60 million barrels, half of which came from the US Strategic Petroleum Reserve.
