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(CNBC)   Oil is the new grease   (cnbc.com) divider line 17
    More: Obvious, economic recovery  
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3188 clicks; posted to Business » on 05 Mar 2012 at 12:29 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-03-05 09:41:15 AM
US oil prices climb as Iran tension grows
Global oil prices have risen with US President Barack Obama saying a military strike against Iran is not ruled out.

Obama's day: Meeting Netanyahu
This morning, Obama meets with Israel Prime Minister Benjamin Netanyahu, and will urge him to forgo a preemptive attack against Iran's nuclear facilities and give sanctions more time to work.

On Sunday, Obama told a pro-Israel lobbying group that "loose talk" of war is only helping Iran by driving up oil prices, reports USA TODAY's Aamer Madhani.

Foreign Policy
When U.S. President Barack Obama enters his White House meeting with Israeli Prime Minister Benjamin Netanyahu on March 5 -- angling to dissuade Israel from attacking Iran's nuclear facilities -- there will be one seemingly mundane issue on his mind that he may be too uncomfortable to share with his guest: gasoline prices.

Will Bibi Have Barack Over a Barrel (of Oil)?
(IPS) - While Israeli leaders historically have enjoyed not insignificant influence with their U.S. counterparts, Prime Minister Benjamin "Bibi" Netanyahu will likely arrive at the White House next week with a little extra boost in his efforts to get President Barack Obama to toughen his already hard line against Iran.

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Repost from Jan - Feb
January 15, 2012
You have an Obama administration who, just recently, expended a chunk of political capital on releasing oil from the strategic oil reserves to drive down prices to help boost the economy. In come the AIPAC sanctions, and Obama pleads to ease the impact of the penalties to avoid driving up oil prices. He loses. Oil prices go up over the nonsense that occurs afterwards, negatively affecting the US economy. Bonus? China Gets Cheaper Iran Oil as U.S. Pays for Hormuz Patrols. A varied group of other people, with the run up to the Iraq war fresh on their minds, arent too happy with this and with the televison media coverage. One example of this is from Robert Baer and Engel on Matthews. Baer is one of the very respected experts in the area. Another is from U.S. defense leaders that are increasingly concerned that Israel is preparing to take military action against Iran, over U.S. objections, and have stepped up contingency planning to safeguard U.S. facilities in the region in case of a conflict (fark doesn't like WSJ links, just google that sentence).

JTA
J Street has a dependable cadre of 40-50 members of the U.S. House of Representatives ready to heed its voting recommendations. Congressional insiders say J Street's green light in December for Iran sanctions nudged the bill from the super majority that traditional lobbying by the American Israel Public Affairs Committee usually turns out to officially "overwhelming": 412-12. That sent the Obama administration a clear message to hurry it on up, the insiders say.

NPR Dec 2011
The powerful pro-Israel lobby and a leading Jewish advocacy group on Wednesday endorsed tough sanctions on Iran's Central Bank as Congress wrestles with an Obama administration plea to ease the impact of the penalties to avoid driving up oil prices.

In a letter to lawmakers, the American Israel Public Affairs Committee said the sanctions would contribute to the U.S. effort to pressure Tehran economically and could dissuade Iran from pursuing a nuclear weapon. Separately, the American Jewish Committee wrote to Defense Secretary Leon Panetta backing the penalties that would target foreign financial institutions that do business with the Central Bank.

Last week, the Senate voted 100-0 for an amendment by Sens. Mark Kirk, R-Ill., and Bob Menendez, D-N.J., to add the sanctions to a broad defense bill. House and Senate negotiators are meeting this week to try to iron out the differences between their respective bills and produce a final version of the legislation for President Barack Obama's signature.


NJ Jewish News
Menendez said their opposition undermined a compromise he struck with Sen. Mark Kirk (R-Ill.) on legislation that was eventually passed in the Senate by a vote of 100-0.

The White House countered that the Kirk-Menendez amendment could actually help the Iranian economy if foreign banks resisted American unilateral efforts.

This week Menendez stood by his approach on sanctions, which he developed in consultation with the American Israel Public Affairs Committee.

More
 
2012-03-05 09:54:38 AM
Yep, that's the word.
 
2012-03-05 09:58:45 AM
bobrich.files.wordpress.com
 
2012-03-05 10:24:49 AM
Iran is the world's fourth largest oil producer. Cutting off their exports makes the large oil companies very, very, very happy. And we're taking it on the chin for Israel. Who has no oil. But they're going to bring the Jesus back, so that's OK then.
 
2012-03-05 12:38:40 PM
Panic when it hits the anus?
 
2012-03-05 12:51:46 PM
The only two graphs you need to see to understand why cheap oil works for a long time and then stops working:

Oil extraction from any single well, country, region or globe:

www.tushar-mehta.com

Economic activity in a correctly functioning economy:

images.angelpub.com

/hot
 
2012-03-05 01:18:13 PM

Hollie Maea: The only two graphs you need to see to understand why cheap oil works for a long time and then stops working:

Oil extraction from any single well, country, region or globe:

[www.tushar-mehta.com image 525x336]

Economic activity in a correctly functioning economy:

[images.angelpub.com image 483x291]

/hot


Wait a minute... if I'm reading these graphs correctly... then the economy IS A PERPETUAL MOTION MACHINE?!
 
2012-03-05 01:18:48 PM
Very slick subby
 
2012-03-05 01:50:13 PM
Tell me more, subby. Tell me more.
 
2012-03-05 02:20:20 PM
Eye si what ewe did there
 
2012-03-05 03:29:08 PM

Von_Ruff: Hollie Maea: The only two graphs you need to see to understand why cheap oil works for a long time and then stops working:

Oil extraction from any single well, country, region or globe:

[www.tushar-mehta.com image 525x336]

Economic activity in a correctly functioning economy:

[images.angelpub.com image 483x291]

/hot

Wait a minute... if I'm reading these graphs correctly... then the economy IS A PERPETUAL MOTION MACHINE?!


Nah, only when population is increasing exponentially, as it has been so far in history, and the economy is healthy. Eventually, the system reaches capacity (due to the oil curve or limiting food curves or land curves). Depending on how we deal with those instances, the economy might end up looking like a sigmoid, or it might look like like a normal curve, or worse. Hint: electing someone because he is unethical enough to say he'll bring you $2.50 / gallon gas won't end well.
 
2012-03-05 04:53:46 PM
I got chills and they're multiplying.
 
2012-03-05 09:33:39 PM
We just need to quit burning this shiat. I know it won't and no doubt can't be done right away. But as long as we keep using oil, we'll be subject to blackmail and all the market fluctuations over and over and over again.
I've already switched to a car with a 2.4L engine, and trying to drive as little as possible.
However, until the West changes their ways, the oil corps and countries will continue to squeeze us as hard as they can.
 
2012-03-05 10:18:53 PM
As someone installing home automation systems, mainly for oil company executives as they have all the money in this town, this bodes well for me.
 
2012-03-06 01:38:12 AM
"Think $150 or even $200 a barrel," the report said.

lol dude...the fastest way to get oil back to forty dollars a barrel is to price it at a hundred and fifty dollars a barrel.

There is a lot of economic activity that doesn't make financial sense when the price of oil reaches those levels and it will just stop.

Probably for the best.
 
2012-03-06 08:35:34 AM

Inigo_Montoya: I got chills and they're multiplying.


you should see a doctor.
 
2012-03-07 06:10:52 PM
My retirement grease!
 
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