Main Street 9

Just how would you raise prices if you were an oil supplier? Controlling the supply — as in the 1973 OPEC embargo — has become less effective with more sources of oil worldwide. And oil suppliers clearly cannot raise prices by controlling demand in the physical oil market; ultimately, they need to sell their oil, [...]

[Read more →]

Nearly a quarter of U.S. fuel production had been shut down due to the approach of Hurricane Ike, according to a government assessment released Friday. By 10:00 A.M. ET, 13 of the 26 Texas refineries, representing a production capacity of 3.6 million barrels of fuel a day, had been shut down, the Energy Department said. [...]

[Read more →]

Investors looking for a silver lining to the weak jobs picture in the United States should consider this: the recent rise in unemployment may move the U.S. further away from the danger of stagflation. At least that will be the case if the historical relationship between the jobless rate and inflation holds up. It suggests [...]

[Read more →]