IRAN has issued a strident warning that it would “set on fire” Israel and target the US navy in the Persian Gulf as its first response to any American attack over its nuclear programme.
Rising tension in the area where Iran and the United States are both carrying out military exercises have contributed to driving oil [...]

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The rapid increase in oil prices and the rise in metal and mineral demand worldwide have made the Russians overconfident. Their annual cash income in the last four years has grown fourfold. The economic crunch of the 1990s is behind them. Thus the Russians have become somewhat politically belligerent, visible in the opposition they have [...]

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WITH oil prices at their present highs and Iraq at last making tentative progress towards stability, the last thing anyone wants to hear is that conditions in the Middle East could be about to take an abrupt turn for the worse. Unfortunately, they could. Recent weeks have brought a spike in chatter about the prospect [...]

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Why are oil prices soaring so high, and will they ever return to Earth? Fatih Birol, chief economist at the International Energy Agency in Paris, explains why peak oil is real, why biofuels are indispensable, and how China determines what you pay at the pump.
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“The big story is productivity in China,” he asserts, noting it is an incredible 9%, or three times the level of productivity in the US during its 1990s peak. Admiral Owens attributes this to the country’s high-quality infrastructure. It will allow the Chinese economy to soon become the second-largest in the world, with a GDP [...]

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Skyrocketing Oil Prices Threaten Prosperity
With oil prices breaking all records, the next shock for consumers is already at hand with electricity and natural gas prices set to skyrocket. While experts fear for the economy, the crisis is driving a wedge between the partners in Germany’s coalition government. By SPIEGEL Staff more…

Black Gold under the Ice: [...]

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By George Friedman
Oil prices have risen dramatically over the past year. When they passed $100 a barrel, they hit new heights, expressed in dollars adjusted for inflation. As they passed $120 a barrel, they clearly began to have global impact. Recently, we have seen startling rises in the price of food, particularly grains. Apart from [...]

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Oil prices are soaring for three key reasons: the decline in the dollar, increase in demand from China, India and other countries, and finally decrease in supply due to underinvestment in oil fields and decrease in oil production.
The decrease in oil production from existing fields is primarily due to passing peak oil. As oil is [...]

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Why has the price of oil risen so much in the past few months? Is it a supply and demand issue as some believe; or is it because of an out-of-control futures market driven by the proliferation of commodity index funds and rampant speculation, as everyone tries to get in on the rise in commodity [...]

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Why are we going to experience a geometric explosion (price doubling and redoubling) in oil prices?
1. Peak oil and declining production around the world. Plus you need to factor in oil producing countries’ local consumption. Rising local consumption in oil producing countries means they will stop exporting oil long before they run out.
a. You see [...]

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But at the same time, the economies of China and India have continued growing, which accelerates the consumption of petroleum-related products and increases the amount and quality of food each person eats. These three facts have conspired to produce a global shortage of crude oil which has exacerbated the world’s inability to feed itself. If [...]

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