Word: barrelfuls
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...Inflation is perhaps the trickiest economic indicator to forecast: for example, over the past year, the ECB's staff has based each of its inflation projections on an assumption that oil prices will stabilize - and each time they have risen further, to a current level of around $140 per barrel, or double the price of a year ago. Western economies as a whole are far less dependent on oil than during the two big oil shocks of the 1970s, but with food prices also on the rise, the situation remains highly volatile. If inflation continues to soar, expect more central...
...business has never been for the faint of heart. But think back, if you will, some five years to a time when the industry was nothing like it is today. In mid-2003, when a barrel of oil fetched about $30, BP made what was then the largest ever foreign investment in a Russian firm. The British company paid more than $6 billion for a 50% stake in TNK-BP, an oil outfit it set up with a consortium of four Russian billionaires. Vladimir Putin, Russia's President at the time, joined Tony Blair, then Britain's Prime Minister...
...those heads swell, however. News in the form of edgy drollery may seem a brave new thing, but it can all be traced back to one source, the man Ernest Hemingway said all of modern American literature could be traced back to: Mark Twain. Oh, that old cracker-barrel guy, you may say. White suit, cigar, reports of my death have been greatly exaggerated--but he died back in 1910, no? White, male, and didn't he write in dialect? What does he have to do with the issues...
...week when oil prices shot to $143 a barrel, the mood at the World Petroleum Congress in Madrid is surprisingly somber. Perhaps the oil company CEOs and OPEC ministers, gathered for the biggest conference in the industry's calendar, are feeling besieged by the relentless drumbeat of public outrage. Perhaps they have been worn down by their ongoing efforts to blame each other for spiraling prices. Or maybe they just think it in poor taste to gloat about their record profits. But even Monday's news that Iraq would open six of its oil fields to international contracts - news that...
...downtown Atlanta, is simple. But it should be a national project, a priority for government at the highest levels, something that voters actually hold politicians accountable for. John McCain and Barack Obama are feuding these days over what constitutes legitimate infrastructure spending and what is just pork-barrel spending. But it won't simply take money to fix Ground Zero. It will take leadership, lots of it. A full acknowledgment of the site's problems from the candidates would help...