peak oil

Nick Benton's Corner: Silence Protects the Speculators

Posted with Permission by Nicholas Benton owner/editor of the Falls Church News Press,

Sen. John McCain has once against thrust the burden for solving the energy crisis on individual families in the U.S. "It has to start at home," he said yesterday, ignoring the overwhelming evidence that it is deep ideological opposition to any regulation of speculative investment by leaders in his party which has led not only to the explosive rise in food, oil and gas prices, but to the housing mortgage crisis, as well.

Nick Benton's Corner: The Next Shoe to Drop

Posted by permission of Nicholas Benton, owner/editor of the Falls Church News Press

The Next Shoe to Drop
by Nicholas Benton

The past week's 20-point drop in the market price of oil is primarily attributable to forceful declarations by key Democrats in Congress, including Sen. Jim Webb of Virginia, that they'll investigate the role of dubious speculation in driving the price to its recent peak of $147 a barrel.

Hedge funds and others working on the margins of speculation do not like to operate in sunlight. Like cockroaches scurrying when uncovered beneath a household appliance, the speculators have begun ducking for cover.

If you are looking for a correlation to explain the sudden drop in oil, you can find it there.

Nick Benton's Corner: "The Wheels Are Coming Off."

posted with permission of Nicholas Benton, owner editor of the Falls Church News Press

The Wheels Are Coming Off
by Nicholas Benton

U.S. Treasury Secretary Hank Paulson has a certain blunt style of speech, both in carefully-chosen words and a Soprano-like delivery, as exemplified by his speech at Chatham House in London yesterday.

This mode was clearly amplified by the fact that he had no real good news, at least concerning anything on the foreseeable horizon, and even the sweeping reforms in the U.S. regulatory system he proposed won't translate into law any time soon.