oil

After the first deadly winter storm this season, now come the floods: the near-record water level across the U.S. Midwest has disrupted everything from oil to agriculture, forcing pipelines, terminals and grain elevators to close. This is the worst flood in the region since May 2011, when rising water on the Mississippi and its tributaries deluged cities, slowed barge traffic and threatened refinery and chemical operations and is just shy of the worst flood of breaking 30-year records.

On Tuesday, we took a close look at the forecast for the Russian economy given various assumptions about the price of oil in 2016. 

While Russia has thus far managed to weather the crude storm relatively well (indeed, Moscow is now pumping more crude than ever before and expects oil exports to rise for the first time in six years in 2015), the numbers do not lie.

By EconMatters

   Prediction Game

The world’s most powerful media tycoon, Rupert Murdoch, is in the oil business nowadays. Murdoch is the founder of News Corp and Fox news who inherited his ‘news’ empire from his father. He now part owns an oil company with Lord (Jacob) Rothschild that is about to start drilling in disputed land between Israel and Syria. The Australian born American tycoon loves to promote war, chaos, fear, pleasure and nonsensical ‘talking points’ as news on his media outlets. His influence and power over politicians, and vice-versa, has always been legend.

Submitted by Arthur Berman via ArtBerman.com,

Congress ended the U.S. crude oil export ban last week. There is apparently no longer a strategic reason to conserve oil because shale production has made American great again. At least, that’s narrative that reality-averse politicians and their bases prefer.