The Financial Times reports that Saudi Arabia is now effectively targeting $100/barrel crude oil, instead of the $70 – $80 price range of the past several years. This is significant because Saudi Arabia is the only country that can (in theory… Continue Reading →

It is no exaggeration to say that the spectacular growth of Western economies–led by the U.S.–was fueled by petroleum. Now that oil consumption in Europe, Japan and the U.S. has stalled its upward trend, there has been some discussion of… Continue Reading →

Fareed Zakaria argues that political instability and risk are the reasons why oil prices persist at high levels despite sluggish economic growth in much of the world. Geopolitics is an important factor. On the other hand, growth and urbanization in… Continue Reading →

What would be the effect on oil prices in America if Iran really did close the Strait of Hormuz? Devastating. Could it lead to yet another recession or a continuation of the one we are in right now?
Jim Hamilton,… Continue Reading →