No matter what happens in the distant future, today Schiller is in the middle of the most exciting oil and gas play in the Gulf of Mexico, one whose true scope will become evident in 2011.
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No doubt, the immediate cause for the sudden rise in the price of oil and gasoline is fear of disruptions in the supply of oil due to unrest in the Middle East and the growing risk of war with Iran.
The great upthrust of the immigrant working class into the middle class after World War II, via the GI Bill, was stopped stone cold by the events of the autumn of 1973, when the October war in the Middle East led to the quadrupling of oil prices virtually overnight and the great inflation set in.
It would be enough to tip the economy into recession, well, the global economy, and it my also be enough to really force the big importing nations to get much more aggressive in being involved in the affairs of these oil producers in the Middle East.
This came as a stark reminder of the dangers facing America (the world's largest oil consumer) and the instability in the Middle East (home of much of the world's oil reserves).
Then, as now, the Fed was given a pass, successfully blaming the inflation it had created on trouble in the Middle East and the rising price of oil.
The cheap hawks, which Mr Woolsey says include him, are concerned about the vulnerability of oil installations in the Middle East.
Or alternatively, when investors expect a crisis in the Middle East, the value of oil companies having large reserves in politically safe countries will likely increase (at least in the short run).
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Proponents further point to the benefits the oil would bring to the U.S. in terms of displacing overseas crude oil from the Middle East and the positive economic benefit to U.S. energy refiners.
Proponents further point to the benefits the oil would bring to the U.S. in terms of displacing overseas crude oil from the Middle East while also providing the U.S. manufacturing sector a major boost via the refiners who would produce everything fro gasoline to plastics from the oil.
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Sources of foreign oil are unreliable, as is the price: with every international crisis, especially in the volatile Middle East, the cost of a barrel of oil soars.
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And that has helped cushion some of the tough stuff that happened in the first six months of this year, including the effects on oil prices as a consequence of what happened in the Middle East as well as what happened in Japan.
The cavernous, granite-columned old Mellon bank branch in the middle of downtown Pittsburgh epitomizes the lender that nurtured Alcoa, Gulf Oil and U.S. Steel in the Old Economy's heyday.
The President is making these decisions based on the best interests of the country and the best interests of our economy, and the best interests of middle-class families that are weathering the storm of a spike in oil and gas prices.
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The immediate cause is fear of disruptions in the supply of oil due to unrest in the Middle East.
The answer hangs on how the global economy performs in the second half of the year, which will dictate oil demand, and the situation in the Middle East, which will dictate supply.
Second, there are hundreds of billions of barrels of oil still deeply buried in the geopolitics of the Middle East.
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If demands for higher pay can be contained, then inflation should retreat in the middle of the year as lower wholesale oil and gas prices eventually bring down domestic energy costs.
In each of the last two years gasoline prices rose sharply at the beginning of the year because tensions in the Middle East raised fears that oil supplies would be disrupted.
Such gratitude is not, of course, due the Saudis - who, we are endlessly told, are among our most reliable "friends" in the Middle East - because they are working to drive down the price of oil set by the OPEC racketeers' cartel.
GTL. Since the world has far more natural gas left than oil much of it outside the Middle East making fuel in this way would greatly increase the world's remaining supplies of oil.
From fields more than half a century old (some dating back to the first oil discoveries in the Middle East in 1908) comes 60% of Iran's oil.
Traders returned to panic mode on Tuesday in response to the rising price of oil and the growing uncertainty in what is now being referred to as MENA (Middle East, North Africa).
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The scenes of popular revolution in the Middle East are inspirational but they are spooking oil markets.
Crude oil bottomed in the middle of November and then retested the lows at the end of December while the SPY held well above its lows.
The volatility is the work of old villains rising oil prices, violence in the Middle East, lower-than-expected corporate profits, uncertainties over the U.S. presidential election, even traditional October jitters.
If America pulls out of the Gulf, the nations of East Asia will either have to play a bigger military role in the Middle East, or find other sources of oil.
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The preceding paragraph captures the double game we confront from a kingdom that, on the one hand, is routinely characterized by American officials as a reliable U.S. ally in the volatile Middle East, a crucial source of oil and a trustworthy recipient of sophisticated weaponry.
Demand for Anadarko paper appears immune from bad news, but as a contender for a positive ratings change, investors appear willing to keep on adding its paper to their portfolios not withstanding a decline in the price of crude oil ushered in by an announced supply increase in the Middle East over the weekend.
The threat of further terrorism, fighting in the Middle East (with its repercussions for the oil price) and maybe a transatlantic trade war, conjuring up ghastly parallels with the 1930s, have all clouded their crystal balls further.
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