At OPEC’s most recent meeting held in December, the thirteen-member cartel agreed to reduce crude oil outputs by 2.46 million barrels per day, a record production cut for the group. As world crude prices dropped below $38/barrel, the cut is designed to stabilize prices to meet OPEC’s forecast of $75/barrel as “fair.”
Market analysts believe that [...]

Based on a  September 18 Times (UK) report regarding the meeting of Middle Eastern finance ministers, the question was asked about the veracity of a plan for a single currency for the Middle East based on oil.
The answer is both true and false and maybe.
Yes, the immediate goal of the meeting last week was to [...]

On Monday, the Dow Jones Industrial Average - the bluest of Wall Street’s blue chips - lost 4.4% in a single day. Fannie Mae and Freddie Mac have been “seized” by the government. Oil continues to drop while gas prices rise. Inflation runs high while jobless claims continue to soar and gold falters. What a [...]

As the price of fuel goes up, shiny new SUVs look shinier than ever; we’re not washing them more often, we’re just driving them less—especially in Alaska, where some drivers pay more than seven dollars a gallon for gasoline.
But this is not another anti-cartel, anti-big business, anti-government rant. If you’re looking for a reason [...]

In 2005, the U.S. Department of Energy published a report entitled Peaking of World Oil Production: Impacts, Mitigation, & Risk Management. Called “The Hirsch Report” after its lead author, Robert Hirsch, its purpose was to lay out a governmental strategy for softening the effects of peak oil and its aftermath: that is, the chaos and [...]

As I write this, Treasury Secretary Henry M. Paulson’s announcement that the Bush administration will indeed shore up Fannie Mae and Freddie Mac is all over the news and still sinking in. After opening slightly higher Monday morning, Wall Street dipped back into negative territory as analysts attempted to digest the bail-out news.
What can it [...]

The price of oil continues to hit record high. Many believe the main reason for this is speculation.
The price of oil has nearly tripled since 2004. The trading in oil on the New York Mercantile Exchange also tripled since 2004. A mere coincidence? OPEC no longer controls the price of oil. Majority of the [...]

An introduction to Nash Equilibrium and examples of how they work in Chess, and in Game theory