We've seen the price of crude oil and the price of gasoline fall dramatically in the last year, but some very big bets are being made that the price is going to go back up substantially this year. While these plans could backfire, they are being made by those who are in the best position to forecast rates going forward.

Continue reading "Oil Prices Poised for Big Rise by Year End" »

Posted by Mike - Editor at 6:00 AM | Permalink

We are familiar with OPEC and the effects they have had on the price of oil over the years. The OPEC nations meet on a regular basis to decide how much oil they will allow the rest of the world to have from their stores. They set quotas and limits on production in an attempt, they say, to keep the price steady at a level that is good for both consumers and the producers. We've seen how that works. Fortunately, many of the producers balk at reducing output and have a tendency to cheat, producing more than their allocation. Now, we are witnessing the formation of a new cartel, this time of producers of natural gas.

Continue reading "New Cartel Announces the End of Cheap Gas" »

Posted by Mike - Editor at 6:00 AM | Permalink