Word: oiling
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...parallel, much of oil's decline in prices since the summer was spurred by speculators unwinding their positions, as they needed to liquidate to cover losses. But gold prices have not followed oil prices downhill. It is clear that new money has entered the gold market. Many who sold their stocks and other assets have reallocated into the gold market, instead of leaving it to cover losses...
...speculation in the gold market is nothing like speculation in other markets. Unlike oil, gold is not consumed, and even when it is used in products like jewelry, it is recoverable and thus maintains its value as the gold that went into it. In other words, the total supply of gold is increasing with gold mining...
...strange time to lay down a marker in defense of economic nationalism - and an even stranger industry in which to do it. Amid a global recession, with Beijing's state-owned companies fanning out across the globe trying to invest in or buy foreign producers of minerals, precious metals, oil and gas, China's Ministry of Commerce on March 18 formally blocked what would have been the largest acquisition by a foreign company in China, a $2.4 billion deal...
...great deal longer. It is not well-know that the Minerals Management Service of the Interior Department is the second largest source of income to the U.S. government. Last year, it was revealed that employees of this office were routinely taking money and having sexual relationships with oil company executives. According to The Wall Street Journal, government employees were also given illegal recreational drugs. There is really nothing wrong with any of that if it does not cost the Treasury any money, but apparently it has. Leases with oil companies which pay royalties to the U.S. government may have been...
When a Jewish boy turns 13, he heads to a temple for a deeply meaningful rite of passage, his bar mitzvah. When a Catholic girl reaches about the same age, she stands in front of the local bishop, who touches her forehead with holy oil as she is confirmed into a 2,000-year-old faith tradition. But missing in each of those cases - and in countless others of equal religious importance - is any role for government. There is no baptism certificate issued by the local courthouse and no federal tax benefit attached to the confessional booth, the into...