Browsing Tag

oil

The Russian – Georgian War

Edward Harrison Aug 12, 2008

While the finance world is concerned with its own problems of writedowns and deflating asset prices, a proxy war of great importance is being fought in the country of Georgia. It has everything to do with both a Russo-American power…

Political Economy

China to get Iraqi oil

Edward Harrison Aug 12, 2008

The Financial Times Deutschland is reporting that China and Iraq want to revive a Saddam-era oil contract between the two nation that is worth billions of dollars. The contract, an obvious economic coup for China, secures Beijing…

Markets

Downward oil price momentum and the news cycle

Edward Harrison Aug 8, 2008

Haven't we been told time and again that much of the oil price rise was due to to external event risk like political instability and war? Well we've got this is spades and oil is still falling. Today, Russia has launched a war against its…

Markets

Commodity prices are dropping across the board

Edward Harrison Jul 31, 2008

One reason I believe inflation pressures will slow going forward is that the global economy has already slowed enough to have a measurable impact on oil demand and all commodity prices across the board. As July comes to an end, the month…

Economy

Refiners as a canary in the coalmine

Edward Harrison Jul 29, 2008

I am on record for expecting a drop in oil prices in the very near future due to demand destruction. Regarding the super spike, I believe much of the end rally in oil prices had little to do with fundamentals and everything to do with…

Ten predictions for 2008

Edward Harrison Jul 28, 2008

With 2008 now half over, it's obvious that the global economy has lurched to the downside. While many have remained unrealistically optimistic about the workout of the present credit crisis, downside risks have been the determining factors…

Markets

US Airways says speculators caused oil price rise

Edward Harrison Jul 25, 2008

I received a note from U.S. Airways in my inbox today asking me to contact my Congressman to stop those evil speculators from causing oil prices to rise. Last time I checked, U.S. Airways is an airline, not a consumer advocacy group.Dear…

Markets

Have commodity prices peaked?

Edward Harrison Jul 23, 2008

I certainly believe they have. Price action speaks to this. The Wall Street Journal's Market Beat had this quote about the price action in commodities:The price of many commodities and commodities stocks — from gasoline to coal to…

Daily

Oil to sink to $100

Edward Harrison Jul 22, 2008

Oil at $100? That's certainly my call and I'll stick to it. So far my call of oil peaking at $150 is holding.( We'll see for how long). On July 9th, after oil's first pullback to $138 I said:Yesterday, oil fell the most in one day since…

Economy

Has the inflation damage already been done?

Edward Harrison Jul 21, 2008

As I write this, crude oil is well off its high of $147.50 on July 11. We are all eager for some sustained relief in the oil price. However, the right question at this point is: has the damage already been done?First, consumer inflation…

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