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NEW YORK (Reuters) – Oil prices surged on Friday to
\n the highest level since September’s hurricanes crippled oil output from
\n the Gulf of Mexico, as tensions mounted over OPEC-member Iran’s nuclear
\n ambitions.<\/p>\n
U.S. crude oil gained $1.52 to $68.35 a barrel after hitting a peak of
\n $68.80 – the highest level since September 2, while London Brent crude
\n rose $1.20 to $66.43.<\/p>\n
Crude prices have jumped more than 8 percent so far this year, bringing
\n them within striking distance of the record $70.85 hit August 30 after
\n Hurricane Katrina toppled rigs and slashed output from the Gulf of Mexico.<\/p>\n
"The market is so delicately balanced," said Mark Keenan of MPC
\n commodity fund. "It faces a convergence of bullish factors."<\/p>\n
from Reuters<\/a><\/p>\n Love those financial euphuisms, Mark. Regular Dowbrigade readers Along the way they have taken effective control of the world’s #1 military The betting here is that they are already planning a "peaceful Obviously, they will go for some technology with a centralized distribution Meanwhile, secondary beneficiaries include the countries that actually Desperate China is casting acquisitive glances far and wide. Expect Welcome to the future. Energy. Water. Information. People. Mix well NEW YORK (Reuters) – Oil prices surged on Friday to the highest level since September’s hurricanes crippled oil output from the Gulf of Mexico, as tensions mounted over OPEC-member Iran’s nuclear ambitions. U.S. crude oil gained $1.52 to $68.35 a … Continue reading
\n will recognize a familiar
\n theme<\/a> here. In
\n what we consider the History of the Species all-time #1 business scam,
\n the Energy Sector has taken effective control of the world economy and
\n is siphoning an appreciable and unprecedented percentage of the Global Gross
\n Planetary Product (GPP) into its visible and invisible financial conduits. <\/em><\/p>\n
\n and economic power, but this is almost incidental and certainly transitory.
\n It won’t really matter in 2008, when the Dems (unlikely) or the Republicants<\/a>
\n (moderate Republicans funded by banking, insurance, pharmaceutical and
\n technology money, not oil) unseat the neo-con cabal. The oil industry
\n has the world by the balls, and they aren’t letting go until the last
\n barrel is burned.<\/em><\/p>\n
\n transition" to "next-generation power generation." This will mean a
\n runup to $300
\n a barrel oil and over $10 a gallon for gas, followed by a panicked government
\n sponsored (taxpayer funded) initiative to a) save fuel, so what they
\n got lasts longer, and spend a shitload of money on some non-fossil
\n fuel energy source.<\/em><\/p>\n
\n model so that our energy can be metered and paid for, thus preserving
\n the supremacy of the "Energy Sector" beyond the twilight of the petrochemical
\n period.<\/em><\/p>\n
\n have the oil and gas, as long as they mind their p’s and q’s. Expect
\n regular examples to be made of countries who deny or condition access
\n to their resources by the Sector. See Iraq, Venezuela. On the other hand,
\n the current supply\/demand situation is in such "delicate balance" that
\n these periodic slapdowns also play into the hands of the Sector. Brilliant,
\n no?<\/em><\/p>\n
\n Bolivia to open up as a Latin-Chinese franchise operation as their
\n huge natural
\n gas resources are sucked into the yawning Asian maw. <\/em><\/p>\n
\n and stand back.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"