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How US Oil Booms & Busts Hit Industrial Production

How US Oil Booms & Busts Hit Industrial Production Fueled by cheap money and by dashed hopes of high oil prices. Industrial production in October rose 4.1% from a year ago, the Fed Board of Governors reported this morning. This was in the upper portion of the range since 2010. It was powered in part […]

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America’s Oil Boom Is a Fraud

America’s Oil Boom Is a Fraud PARIS – We promised to end the week with a bang! You’ll recall that Fed policy always consists of the same three mistakes… 1) Keeping interest rates too low for too long, resulting in too much debt; 2) Raising interest rates to try to gently deflate the debt bubble; […]

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Give Us Another Oil Boom

GIVE US ANOTHER OIL BOOM  Dear Lord, Y’all give us another oil boom… If there is one sector of the US economy where an Austrian-style Boom-and-Bust bust has taken place, it is the onshore oil industry – though, by extension, other primary resource industries, such as metals and mining and farming have also suffered in […]

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VIDEO: John Oliver Urges Us to Wake Up to How Big Oil Is Killing People and Destroying North Dakota

VIDEO: John Oliver Urges Us to Wake Up to How Big Oil Is Killing People and Destroying North Dakota In another informative and funny segment of HBO’s “Last Week Tonight,” John Oliver explores what has happened to North Dakota since the starts of its oil boom.  

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‘Blood & Oil’, North Dakota, and dreams not exactly fulfilled

‘Blood & Oil’, North Dakota, and dreams not exactly fulfilled Last week a new television series set amidst the North Dakota oil boom debuted. Blood & Oil tells the story of locals and newcomers striking it rich in The Bakken, an oil formation that has been heralded as containing more oil than Saudi Arabia–a wildly misleading* but understandably […]

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How Fracking Changed the Economics of Oil Production Around the World

How Fracking Changed the Economics of Oil Production Around the World James Meadway, chief economist at the New Economics Foundation, explains the interrelated economics behind China’s ‘Black Monday’ stock market crash, Middle Eastern oil and US fracking. The ‘fracking revolution’ has transformed the economics of oil production globally, with the US becoming a bigger producer than Saudi Arabia and […]

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Where Oil and Politics Mix – NYTimes.com

Where Oil and Politics Mix – NYTimes.com. TIOGA, N.D. — In late June, as black and gold balloons bobbed above black and gold tables with oil-rig centerpieces, the theme song from “Dallas” warmed up the crowd for the “One Million Barrels, One Million Thanks” celebration. READ PART 1 The Downside of the Boom North Dakota […]

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Olduvai IV: Courage
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