Robert Bryce is one of the leading journalists on energy issues. He is Managing Editor of Energy Tribune, and in a recent article gave a mea culpa on oil speculators:
… Continue ReadingBack in June, I wrote a piece for The American in which I argued that oil prices were being driven higher by the immutable law of supply and demand. Today, with prices plunging to near $40 instead of the $145 level seen in mid-July, it’s abundantly obvious that speculators were a key driver, probably the main driver, of the surge in oil prices that occurred between late 2007 and July.
So, to be clear, I was wrong. The leaders of OPEC were right. So, too, was my pal, Ed Wallace. In May, Wallace, a savvy journalist from Fort Worth who writes for the Fort Worth Star-Telegram and Business Week, published several articles [in] which he showed how the unregulated futures market was being used by speculators to push prices upward.
T. Boone Pickens is holding a town hall meeting on the Pickens Plan tomorrow at Rice University. His presentation, hosted by the James A. Baker III Institute for Public Policy, deserves some hard questions and frank answers. Here are some suggested questions. …
Continue ReadingIf there is one quotation by Obama’s new science advisor that every American should hear, it is this:
… Continue Reading“A massive campaign must be launched to restore a high-quality environment in North America and to de-develop the United States. . . . Resources and energy must be diverted from frivolous and wasteful uses in overdeveloped countries to filling the genuine needs of underdeveloped countries. This effort must be largely political” (italics added).