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With 2008 now half over, it’s obvious that the global economy has lurched to the downside. While many have remained unrealistically optimistic about the workout of the present credit crisis, downside risks have been the determining factors in keeping things soft.
Where are we headed?
I’d like to answer that question with my top ten predictions [...]

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I received a note from U.S. Airways in my inbox today asking me to contact my Congressman to stop those evil speculators from causing oil prices to rise. Last time I checked, U.S. Airways is an airline, not a consumer advocacy group.

Dear U.S. Airways customer,
Several weeks ago, [...]

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I certainly believe they have. Price action speaks to this. The Wall Street Journal’s Market Beat had this quote about the price action in commodities:
The price of many commodities and commodities stocks — from gasoline to coal to fertilizer makers — rode up on the coattails of crude oil. So oil’s moves are [...]

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Oil at $100? That’s certainly my call and I’ll stick to it. So far my call of oil peaking at $150 is holding.( We’ll see for how long). On July 9th, after oil’s first pullback to $138 I said:
Yesterday, oil fell the most in one day since the start of the Gulf War in [...]

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As I write this, crude oil is well off its high of $147.50 on July 11. We are all eager for some sustained relief in the oil price. However, the right question at this point is: has the damage already been done?
First, consumer inflation for June 208 in the U.S. was 5.0%. [...]

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George W. Bush certainly has chutzpah. Ever the opportunist, he has taken advantage of high oil prices to lift the ban on offshore oil drilling. Americans continue to allow this President free reign and Congress as allowed him creeping presidential power, abdicating its role as a check on the executive branch. First, there [...]

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This report comes from Fin24 in South Africa.
Iran on Sunday said it has discovered a new oil field in the hydrocarbon-rich province of Khuzestan with more than one billion barrels of crude in place.
Oil Minister Gholam Hossein Nozari said the oil field held 1.1 billion barrels of sweet crude oil, of which 233 [...]

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Yesterday, oil fell the most in one day since the start of the Gulf War in January 1991 to close at $136.03 in New York trading. Now is the time to evaluate whether we have seen the top in oil prices? On Thursday in my post “Oil close to $146” I said,
The price action [...]

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Oil tightened its squeeze on world economies today soaring to a new high of over $145 a barrel. Eurozone growth is also expected to take a further hit at lunchtime when the European Central Bank is expected to raise rates to curb inflation.
In London, the continuing threat of an attack on Iran, the [...]

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After U.S. inventories reported a shock 2 million barrel draw, the price of oil rose above $144 to a new record.
Crude oil futures rose to a record above $144 a barrel in New York after a U.S. government report showed an unexpected decline in inventories.
Supplies dropped 1.98 million barrels to 299.8 million last week, the [...]