Search Results for: $100 per barrel

$100 per barrel

NYMEX benchmark light sweet crude for January delivery broke through $100 per barrel for the first time ever today. That is all.

40 years after the OPEC embargo

Oil was once so plentiful it came out of the ground like artesian wells, like the bubbling crude made famous by Jed Clampett fame and the dangerous gushers from fields in Texas, California and Oklahoma. The heyday of easy oil began to fade when U.S. oil production peaked in 1970. Big oil could collect petroleum read more »

Party like it’s 1999

The Dow Jones Industrial Average managed to shed almost a decade’s worth of economic growth in a single day today. The DJIA closed today at a level that hasn’t been seen since 1999. The 7% decline today doesn’t compare with the double digit declines that marked the beginning of the Great Depression in 1929. Over read more »

Export Land Model

The Wall Street Journal does a good job covering the big reason that oil prices have risen so dramatically over the past year: exports fell 2.5% last year in spite of a 57% increase in prices. The conventional wisdom is that higher prices always lead to technological improvements and more investment. This drop in exports read more »

Bicycling blog

I have to mention “bicycle blog” every once in a while; otherwise, the search engines get confused and don’t realize that this is a blog about bicycling. Swobo fanboys: here’s one for you. We’re expecting rain in the Bay Area today, but this morning was dry if chilly. I had a fun ride into work read more »

Contest: Guess the price of crude

Update: Comments are now closed! I hope to announce the winner this evening. Guess what the futures price of NYMEX Light Sweet Crude Oil will be when the markets close on Friday, November 9 and you could win a $10 Amazon.com gift card in this contest! The New York Mercantile Exchange is where oil futures read more »