Surge for the dollar as global fears rise
The dollar surged to a two-year high against the pound and a six-month peak against the euro on Friday, as fears about spreading economic gloom triggered a sell-off in commodities. Against sterling, the US currency notched up its 11th consecutive day of gains – its longest uninterrupted rise in more than 35 years – as markets became increasingly convinced that the US was best-placed to weather the global downturn. The strong dollar rebound undermined sentiment in the gold market, where prices...
August 17, 2008
Rice: Israel can decide for itself on Iran
US Secretary of State Condoleezza Rice defended Israel’s right to make its own decision about whether it takes military action against Iran, in an interview released over the weekend. “We don’t say yes or no to Israeli military operations. Israel is a sovereign country,” she said in response to a question from The Politico Web site as to whether she was concerned that America would be blamed in the case of an IDF attack on the Islamic Republic. Her statements come amid speculation...
August 11, 2008
Opec income hits record as oil prices soar
Opec nations earned as much in the first half of this year as they did in the whole of 2007 - thanks both to record oil prices and record production - triggering a big increase in its spending. Members of the Saudi Arabia-led oil exporters’ cartel took home $645bn (£335bn, €430bn) between January and June, just below the record $671bn they earned last year, according to the US department of energy. At the current pace, Opec nations would earn about $1,245bn this year, a record. The recent...
August 11, 2008
Big Oil’s biggest quarter ever: $51.5B in all
HOUSTON (AP) - Oil giants Chevron Corp. (CVX) (CVX) and Total SA (TOT) wrapped up a string of gargantuan, record-breaking earnings reports Friday, a stretch in which six of the major international oil companies topped $50 billion in combined profit for the first time. While the profits of unparalleled size have brought withering criticism from Washington and disgust from consumers across the country, very few were surprised. Crude prices during the second quarter were nearly double what they were...
August 2, 2008
Kucinich seeks to bar US oil firms from Iraq
Rep. Dennis Kucinich has introduced a measure that would bar US oil companies from receiving contracts in Iraq. The Ohio Democrat, who believes exploiting Iraq’s massive oil reserves was the primary reason we invaded, introduced a measure he says aims to keep Iraq’s oil wealth within the country. “Iraq needs oil revenue now more than ever as they try to rebuild their country,” Kucinich said Thursday, unveiling the Oil for Iraq Liberation Act. Kucinich noted Congress recently required...
August 1, 2008
Exxon posts record $11.68 billion profit
World’s largest publicly traded oil firm makes $1,485.55 a second in the quarter, but misses forecasts. NEW YORK (CNNMoney.com) — Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter. That profit works out to $1,485.55 a second. That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007. “The fundamentals of...
July 31, 2008
Shell reports 33% rise in profit
Royal Dutch Shell, Europe’s largest oil company, reported a 33 percent increase in second-quarter profit Thursday, helped by a higher oil price even as production declined. Like smaller rival BP earlier this week, Shell profited from an oil price that almost doubled in the second quarter from the year earlier but a 13 percent drop from a record on July 11 raised some concern among investors about whether oil companies can keep up the pace of earnings growth. BP said earlier a higher oil price...
July 31, 2008
War On Terror Imagineer Richard Perle Mulls Iraq Oil Business
Perle Linked to Kurdish Oil Plan Influential former Pentagon official Richard Perle has been exploring going into the oil business in Iraq and Kazakhstan, according to people with knowledge of the matter and documents outlining possible deals. Mr. Perle, one of a group of security experts who began pushing the case for toppling Iraqi dictator Saddam Hussein about a decade ago, has been discussing a possible deal with officials of northern Iraq’s Kurdistan regional government, including its...
July 29, 2008
BP 2Q profits soar; battle for TNK-BP persists
BP PLC reported a 28 percent rise in second-quarter profit on Tuesday, exceeding analyst expectations, as crude oil soared to record levels and natural gas also made big gains. BP, Europe’s second biggest oil producer behind Royal Dutch Shell PLC, posted profit of $9.47 billion for the three months ending June 30, up from $7.38 billion in the same period a year ago. Revenue jumped 49 percent to $110.98 billion as the price of a barrel of oil rose by around 35 percent over the quarter. Profit...
July 29, 2008
Iran says oil could reach $500 on dollar, politics
Iran’s OPEC governor said world oil prices could reach as high as $500 per barrel in a few years’ time if the dollar falls further and political tension worsens, an Iranian weekly said. “If the dollar’s value continues to decrease and if the political crisis becomes worse, the oil price would reach up to $500,” Mohammad Ali Khatibi told Shahrvand-e Emrooz in an interview published on Saturday. He was asked about predictions that oil prices could reach up to $200 per...
July 28, 2008
The Raw Story- Congress requests special counsel on rendition
- Did Rove bolt from the country to avoid testifying?
- Journo: FISA vote 'step toward fascism'; ACLU sues gov't
- Impeach bill: Bush lied America into war
- US: Real or not, Iranian missile tests must stop
- Poll: Turnout expected to skyrocket in November
- After FISA flip, Obama vets Dodd for VP
- Group: Obama finance disclosure less than Bush
- McCain questioned about PNAC, 9/11
- Poll: Obama up 48-40
- Antiwar
- The Most Dangerous Man in America
- The Narrative Versus the News
- Why Bush Will Pardon AIPAC for Espionage
- Big Three Block Iran Attack
- Bush Covered Up Musharraf Ties With al-Qaeda, Khan
- Kosovo Casts Shadow on South Ossetian Standoff
- Double Standards in the Global War on Terror: Anthrax Department
- Please Mr. President, Don't Make Promises to Fools
- Who Started Cold War II?
- Arar Faces Uphill Legal Battle
- Truth News
- The Matrix & Other 9/11 Hollywood Symbolism
- Did Tom Clancy’s “lucky assertions” foretell the Georgia Conflict of 2008 in 2001 and the SPP of 2005 in 2004?
- We Are Change L.A. questions Dennis Kucinich about 9/11
- Fmr President Ford secretly told FBI about panel’s doubts on JFK murder
- Flashback: U.S.-Georgia training begins amid Russia strain
- Pentagon closes controversial intelligence unit
- What the Iraq Forgery Says About 9/11
- Chemical Traces of High Explosives in WTC Debris
- Law Professor: Counter Terrorism Czar Told Me There Is Going To Be An i-9/11 And An i-Patriot Act
- Get Outraged And Get Active About Internet Censorship
