Is OPEC’S demise greatly exaggerated?
Friday, September 12th, 2008 Posted in Oil | No Comments »When the Saudis walked out of Thursday's OPEC meeting in Vienna to protest a decision to cut oil production in response to declining prices, which now hover just above $100 per barrel, some members of the business press and related ...
Good times continue for the GCC
Thursday, July 31st, 2008 Posted in Oil, Regional News | No Comments »2008 GDP for the GCC is set to surpass $1T (+36% yoy) along with an impressive doubling of cement capacity by 2010, not to mention similar increases expected in petrochemicals, natural gas and other industries. Economic and investment boom ...
For Saudi Aramco, sky is the limit
Thursday, July 31st, 2008 Posted in Oil | No Comments »At an estimated production cost of $2.00 per barrel, Saudi Aramco's annual net revenues are expected to top an eye-popping $200 billion. The world's largest oil producer has also set its sights on becoming a leading petrochemical manufacturer, where a ...
Oil Futures Slip But Still Pumped Up
Tuesday, July 29th, 2008 Posted in Oil | No Comments »This is not the first time a prominent figure from OPEC has publicly commented on high oil -- emphasis this time around on geopolitical pressures. (See clip excerpt below.) Obviously the weak dollar and speculators have been major factors ...
Collective US net worth over a barrel
Monday, July 21st, 2008 Posted in Oil | No Comments »Despite robust growth that has seen collective US net worth rise from $3.4 trillion in 1970 to a current level of $56 trillion, the price of a single barrel of oil has dramatically exploded during the same period from $3.18 to $140.00. The net worth of America, as ...
