Browsing Tag

oil

Oil price rise is accelerating

Oil hit $126 a barrel today on production fears. Refiners and firms that need oil to make money seem to be hoarding it as the price rises inexorably higher. According to Bloomberg, "U.S. crude supplies rose 5.65 million barrels to 325.6…

Biofuels

I caught an interesting letter to the editor at the New York Times. We really need to think about which alternative energy sources we use and this letter highlights the fact.Re “Bring On the Right Biofuels,” by Roger Cohen (column, The New…

Gas Tax Breaks

I am wading into this debate over whether or not the U.S. government should temporarily suspend the federal tax on gasoline this summer. I come down on the side against the tax break. Here's why?In a post about Windfall taxes on Tuesday, I…

Drilling for oil

Today, I read an article by Robert Samuelson in the Washington Post advising that the U.S. allow drilling for oil in previous no-go drilling zones because the cost of oil is rising. Originally, I agreed with his assessment. Today, I have…

Panic Time at the Fed

Steve Hanke, a libertarian economist who writes for Forbes, argues that the Fed is panicked about the economy in a piece that came out today. He believes they have lowered the Fed Funds interest rate to where inflation is now a problem.…

War in Iran: Is it inevitable?

Earlier today in the news, it was revealed that our top man in the military in the Middle East, William J. Fallon has asked to retire and resign from his post (see story)This story may seem innocuous and of little to no consequence at a…

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