The Consequences Of Venezuela’s Oil Strike

Venezuela’s iron and steel industry is in virtual shutdown because of the (natural) gas shortage brought on by the strike. Gas is a by-product of oil production, so it’s been shut down too. It turns out that Venezula is the world’s largest producer of hot briquetted iron, which is an input in the production of … More The Consequences Of Venezuela’s Oil StrikeMore The Consequences Of Venezuela’s Oil Strike

I Hate To Say “I Told You So,” But …

OPEC is having an emergency meeting Sunday to discuss the extent to which they should raise output. Furthermore, their proposed increase of up to 1.5 million barrels/day is a large increase for them, and drove down crude oil futures prices. Some news reports have argued that this is a dramatic policy shift for OPEC, but … More I Hate To Say “I Told You So,” But …More I Hate To Say “I Told You So,” But …