Oil archives

To Mr. Zogby: Cynthia McKinney’s a candidate, too

By email, James Zogby's polling firm sent me their latest survey asking about my 2008 election intentions. The survey asked whether I plan to vote, for whom I've voted in the past, and for whom I may vote in the...

Inflation watch? The next big oil spill

The inflation watch has begun. Bernanke is warning us inflation is on its way.

I remember in Econ 101, the idea of "dollar bombs" being dropped -- so that currency is doubled, and soon all price double as there are only so many goods to go around.

So as airlines charge for bags and food prices rise and oil takes off in a hyperinflationary way, everything else will follow suit. This is the next big oil spill. Oil prices spilling over the economy and fouling everything.

Everything oil touches won't turn to gold, but will go up in price. The more oil prices rise, the more everything else will rise and the less the speculators will make.

Yet governments seem paralyzed to stop it, and there may be a few that think they can turn it to an advantage. In the end, whatever reserves they have in the form of the balance of payments will be washed away as the cost of things spike, and these balances erode.

Maybe the current generation will laugh along in the old Saturday Night Live classic with Dan Akyroyd as "Jimmy Carter" who tells us "inflation is your friend." Who wouldn't want to smoke a $500 cigar, or wear a $7,500 suit, or living in a $10,000 apartment. "I know I would." It ends with "Carter" calling the Treasury Departments and saying, "Hello, this is Jimmy. Print me some more of them 20s."

In the end, though, few of us will be laughing.

$200/barrel Oil? Choosing sustainability

My cab driver, transplanted from Ethiopia, told me first. That was weeks ago. But I couldn't believe it till I read the headline of today's Independent (London): "Price of oil will double." Folks, we have now reached 'put up or...

Food: from fuel to riots as Reuters covers agflation

The current global food crisis makes me remember being in Jamaica in the last quarter of 1977. Michael Manley was prime minister. For some reason, the U.S. government did not consider Mr. Manley a friend. Somehow I sensed that perhaps...

India-Africa Summit in Delhi: Hard questions?

April 8-9 mark the first-ever India-Africa Forum Summit. Might the Summit include any component addressing human trafficking and undocumented (i.e., illegal) immigration coming from the Asian subcontinent into East and Southern Africa?? India and the African Union each has its...

March Madness? Bombing, from Belgrade to Baghdad

It's just days after the "Ides of March" - the date when the emperor Giulio Cesare was assassinated in Rome. In English we call him Julius Caesar. In English we also have a saying about March, that it "comes in...

“Embedded” in Iraq

Recently GOP maverick(?) Colin Powell labelled the reality in Iraq a civil war. Knowledgeable journalists and others say what we see in the press does not begin to convey how bad it is. It's almost two years since my Jan...

It’s Iraq, the economy AND the Constitution, “Stupid”

I'm certainly not calling anyone stupid. That was part of a very accurate and effective Democratic campaign slogan a few elections back. But mid-term Election 2006 is about Iraq. It is about the U.S. and global economy - which also...

From a wedding to killing at Qana: Lebanese prime minister brought to tears at Arab summit

Today, Monday, BBC carried live coverage of the Arab foreign ministers' summit in Beirut. I grew up learning about Jesus attending a wedding in Cana where he transformed water to wine. This is described in John, chapter 2, verses 1-11...

War and Collateral Civilians: Ethiopian women trafficked and trapped in Lebanon

The Blogher 2006 conference is happening in about a week. Meanwhile over at Blogher.org I posted my concerns about the least visible of the collateral civilians caught in the bombing of Lebanon and Hezbollah. Look here under Race Ethnicity....