Stop the Propaganda / Feed the Truth » Energy and Oil Prices

Why We Can’t Afford Cheap Gas

Andy Kroll, AlterNet — Mon, 29 Sep 2008 07:00:01 +0000

(AlterNet.org: Environment) - We can’t let the talk about alternative energy rise and fall with the cost of gas, or the environment and our economy will pay a mighty price. With the cost of crude oil again nearing the $100-a-barrel mark (even after last week’s financial meltdown) and this summer’s record gas prices in the rearview [...]

Russia takes control of Turkmen (world?) gas

Sparrows — Thu, 31 Jul 2008 09:10:02 +0000

From the details coming out of Ashgabat in Turkmenistan and Moscow over the weekend, it is apparent that the great game over Caspian energy has taken a dramatic turn. In the geopolitics of energy security, nothing like this has happened before. The United States has suffered a huge defeat in the race for Caspian gas. The question now is how much longer Washington could afford to keep Iran out of the energy market. Curiously, the agreements reached in Ashgabat on Friday are unlikely to enable Gazprom to make revenue from reselling Turkmen gas. Quite possibly, Gazprom may now have to concede similar terms to Kazakhstan and Uzbekistan, the two other major gas producing countries in Central Asia. In other words, plain money-making was not the motivation for Gazprom. The Kremlin has a grand strategy. Russia and China have a heavy agenda to discuss in energy cooperation far beyond the price of Turkmen gas supplies. But suffice it to say that Gazprom's new stature as the sole buyer of Turkmen gas strengthens Russia's hands in setting the price in the world gas (and oil) market. And that has implications for China. Moscow would be keen to ensure that Russian and Chinese interests are harmonized in Central Asia. Besides, Russia is taking a renewed interest in the idea of a "gas cartel". Medvedev referred to the idea during the visit of Venezuelan President Hugo Chavez to Moscow last week. Note: Continuation in the comments section.

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Biofuel production boosts food prices by 75%, report suggests

Stop the Propaganda — Sat, 05 Jul 2008 01:24:35 +0000

The production of biofuels has driven up food prices 75 per cent, according to an unpublished World Bank report obtained by the Guardian. In an article published Friday, the British daily cites a confidential report authored by Don Mitchell, a senior economist at the bank. The newspaper suggests the report has not been released so as [...]

Oil hits high near $146, then eases _ but not much

Stop the Propaganda — Thu, 03 Jul 2008 19:03:17 +0000

NEW YORK (AP) — Oil prices briefly soared to a new high near $146 a barrel Thursday, extending the previous day’s record-shattering rally before easing somewhat as the dollar gained ground against the euro. Americans hitting the road for the July Fourth holiday were confronted with an unwelcome record of their own: The average retail price [...]

Stocks punished as oil hits new highs

Stop the Propaganda — Wed, 02 Jul 2008 22:16:31 +0000

North American equity markets fell sharply as oil prices touched another record high near $144 US a barrel on Wednesday. The S&P/TSX composite index shed 432 points to close at 14,034.11 — the market’s lowest close since April 30. Stocks in Toronto were led down by a 7.5 per cent drop in the mining sector. The materials [...]