Daily Reckoning Articles on Oil

10/06/2005 – An Oil Boom – Without The Oil
by Byron King “I cannot speak for the Almighty, but I believe that this boom has more to do with the monetary expansion of Mr. Alan Greenspan, and the predictions of a fellow named Dr. M. King Hubbert, than with the Big Guy upstairs.”
10/05/2005 – In The Aftermath, Part I
by Justice Litle “The assessment of the situation is a little less pessimistic. It looks like damaged ports and refineries may be brought back on line faster than feared, and worst-case scenarios may yet be avoided.”
09/19/2005 – The Economic Trail of Tears
by Mogambo Guru “Staying in the putrid, stinking area known as “the banks,” they suddenly bought up, in the same short week, $28 billion in other securities, whatever the hell that means.”
09/15/2005 – To Pause, or Not to Pause
by John Mauldin “There are more and more calls for the Fed to pause in September. Clearly the markets are expecting them to do so, and this has given a boost to the stock market.”
09/12/2005 – Gold, How Undervalued Art Thou
by The Mogambo Guru “From the IMF website, we read that one of their ‘principles’ is, ‘As an undervalued asset held by the IMF, gold provides fundamental strength to its balance sheet. Any mobilization of IMF gold should avoid weakening its overall financial position.'”
07/27/2005 – Red Storm Rising
by Kevin Kerr “Energy price hikes are a major problem for the Baltic states – which could mean trouble for American investors as well. Kevin Kerr gives us the whole story…”
07/05/2005 – The Ultimate Chess Game
by Bill Bonner “Legendary chess player, Gary Kasparov, has a new opponent: Vladimir Putin. Kevin Kerr looks at Kasparov’s uphill battle against fascism through the eyes of the Russian press…”
06/30/2005 – Oil is Where You Find It
by Byron King “In the present, just as in the past, oil is exactly where you find it. And that’s we are going to discuss the Maritime provinces of eastern Canada, where the St. Lawrence River spills out into its eponymous gulf.”
04/14/2005 – A Surprising Solution
by John Mauldin “World oil demand is currently surging far higher than normal rates…and nobody knows how high oil prices will go. What does this mean for the U.S. economy?”
04/07/2005 – The Energy Revolution Intensifies
by Dan Denning “This latest rise in energy prices will have at least three distinct impacts. First, the stock market will see new leadership from the oil and energy sector. Oil and energy indexes and ETFs will gain in popularity with institutional and retail investors alike.”
04/01/2005 – Vandals of the Internet
by Bill Bonner “It seems as though media is taking over the world. But how far does a barrage of headlines get us? We’ve seen what became of the New Era. Whither, then, the Information Age?”
03/16/2005 – Fueling Economic Growth
by Lord Rees-Moog “With the price of oil heading up rapidly, the only logical step would be to consider other sources of power… and in China and Japan they have been developing two new technologies that could change the world…”
03/15/2005 – Barrels of Oil, Miles of Mud
by Byron King “The evidence was right there. On its first day of operation, Aug. 27, 1859, Edwin Drake’s well in the small town of Titusville, Pennsylvania, had produced all of 25 barrels of oil from the depths of the earth…”
03/09/2005 – The Dragon is Ravenous
by Justice Litle “While food is necessary for survival, energy is necessary for growth…and no country is growing at a faster clip than China. Their demand for energy increases everyday, and we explore their strategies to ensure energy security.”
02/25/2005 – Literary Economics
by Bill Bonner “Bill Bonner examines the differences in the America’s economic structure since the last decade of the 20th century. He points out that the world very rarely does what we want it to do, and more often it does exactly the opposite.”
02/18/2005 – Tabloid Truths
by Bill Bonner “We went over to our new club last night. Not that the place is new – it was founded hundreds of years ago. But we are new to it. A marvelous old gentlemen’s club, it is the sort of place that we like; the sort of place that wouldn’t normally let us in the door.”
02/17/2005 – The Nation That Debt Built
by Bill Bonner “America has become a country of risk-takers – and it’s not solely homeowners and investors taking these chances…”trusted” government officials have made promises they can’t – and never intended to – keep…”
02/15/2005 – Saving Spree
by Bill Bonner “Everyone involved in the financial world has been speculating on what is in store for the New Year…will the dollar rally vs. the euro? And when will the housing bubble burst?”
12/08/2004 – Luck Be a Trader…
by Nassim Nicholas Taleb “A few years ago, when I told a then Master-of-the-Universe type, that track records were less relevant than he thought, he found the remark so offensive that he violently flung his cigarette lighter in my direction.”
11/05/2004 – The American Brain
by Bill Bonner “People go along with whatever hooey is popular. Not only do they go along with it – they go out of their way to take part in it. The front page of almost all the newspapers in Europe this week carried photos of long lines…”
11/01/2004 – Who’s Paying for the Free Lunch?
by The Mogambo Guru “The competition for that money would have caused interest rates to rise because the old supply/demand rule says that increased demand should cause prices (in this case, the price of money) to go up…”
10/06/2004 – A Flash In The Pan?
by Chuck Butler “It is time for this community to recognize who they are collectively, and then to begin the long march to the ultimate great leap forward – a single currency to shepherd the economic zone into a dominant role…”
10/01/2004 – Good Guys VS Bad Guys
by Bill Bonner “More and more, we see columnists, pundits, military strategists, politicians and even friends of ours refer to America’s purported enemies as “the bad guys.” No one knows who the bad guys actually are or why they are so bad…”
09/30/2004 – Through The Roof And To The Moon
by Doug Casey “That’s the good news. The bad news is that something called the business cycle still exists, which evidences itself in periodic booms and busts. We’ve had a tremendous boom from 1982 on. Must it result in a serious bust?…”
09/29/2004 – White Elephant
by Chris Mayer “How did Forepaugh do it? Easy. He faked it. His animal trainers and handlers scrubbed an ordinary gray elephant with white plaster and used peach-colored tint around the animal’s ears, trunk and feet…”
09/27/2004 – Remarkably Robust
by The Mogambo Guru “And furthermore, I am afraid that this 20-something woman, despite her obvious genius, confuses the anomaly of the last 54 years with the last 5, 000 years. And when one examines that historical record…”
09/24/2004 – Frugal To A Fault
by Bill Bonner “But never was there a problem under the bright sun of America 2004 that didn’t have some sort of fraud creeping in the shadows of its debt bubble. Reading about Ms. Naughton, economists are likely to see a threat…”
09/22/2004 – Contrarian Lethargy
by Marc Faber “…Like in a casino or lottery, some players who are particularly skilful or lucky will leave with huge profits, while the majority will end up with losses. I suppose that, eventually, even the casino will lose money…”
09/02/2004 – Crackup Currency

by Dan Denning “The Bank of England (BOE) was one of the first central banks in the world to begin its tightening cycle and put the brakes on the tide of easy money that drove everything up in price in 2003…”
08/31/2004 – The Other Yellow Metal
by Doug Casey “Over the next decade or two, energy prices are going to reach shocking levels, and the price of uranium, inextricably tied to energy, is headed up as well.”
08/30/2004 – This Inflation Thing
by The Mogambo Guru “Anyway, ignoring these unseemly domestic problems, foreigners bought another $9.3 billion for the week, which is higher than normal by quite some way, and stashed it at the Fed. This brings their total holdings…”
08/23/2004 – A Big Ol’ Dumpola
by The Mogambo Guru “And now I probably have to listen to another witless lecture about how Alan Greenspan and the Fed are NOT incompetent, mental-defective charlatans, and how it is a Good Thing (GT)…”
08/20/2004 – The Day The Earth Stood Still
by Bill Bonner “Soon, great clouds of marijuana smoke billowed over us. We continued to explain the many terrors of the dark night ahead. The debt bubble. The trade deficit. Federal liabilities…”
08/13/2004 – Chaco Canyon
by Bill Bonner “Nobody knows where they came from…the original pueblo people. They are referred to as the ‘Anasazi’ or ‘ancient ones.’ They are part of the great diaspora of tribes that apparently came over from Siberia…”
07/29/2004 – Make The Desert Bloom
by Dan Denning “Stephen agreed with that and asked me to imagine a world where the basis of the currency is the faith we have in each other as human beings, as wealth producers…”
07/20/2004 – Komrade Kapitalism
by Steve Sjuggerud “Until Putin claimed he didn’t want to push Yukos into bankruptcy, the oil giant was either a zero or a home run. Now the prospect of a zero has been taken away. The 30%-plus move in the shares was a reflection of that…”
06/14/2004 – World Class Imbeciles
by The Mogambo Guru “Thus the money supply of the globe is expanded, and thus the dollar is debased some more, and thus imports cost more. The only difference is that instead of money being created by being borrowed…”
06/09/2004 – Oil-aholic Agression
by Marc Faber “…Last year, China replaced Japan as the world’s second largest importer of crude oil. Soon after taking over power, a year ago, President Hu Jiantao and Premier Wen Jiabao decided that, “securing reliable supplies of petroleum…”
06/07/2004 – Second Amendment Babes
by The Mogambo Guru “Now, of course, this immediately sent me in paroxysms of rage, and the next thing I know I am being roughly held down, while priests mumble Latin prayers while sprinkling Holy water on me…”
06/02/2004 – The Tapestry Of Monetary Collapse
by Chris Mayer “The threads of this story form a grand tapestry that will one day tell a sorry tale of monetary collapse. For the time being, we can explore the tapestry in bits and pieces, as one might examine the shards left in the trail.”
06/01/2004 – Poisonous Tentacles
by The Mogambo Guru “If you ever, ever say anything again that is even half as stupid as what you just said, you will pay a penalty that you will remember with horror all the days of your life, and as you lay on your death bed…”
05/25/2004 – A Grotesque Misnomer
by Kurt Richebacher “The writing has been on the wall for years. In 1996 the American consumer increased his spending on current goods and services by $281 billion, with debt growth of $345.7 billion. In 2000 he spent $456.9 and borrowed…”
05/21/2004 – Ascension Day
by Bill Bonner “One of the wonders of the modern world is the dollar. The U.S. is not Thailand and the dollar is not the Baht…but like the Baht, the dollar is paper…backed by nothing…”
05/18/2004 – Running Out Of Gas
by Dan Ferris “That’s right. A lone, part-time employee was charged with the responsibility of auditing the entire reserve base of the second-largest company in the largest industry on the planet…”
04/22/2004 – The River Of Losses
by Steve Sjuggerud “I now see the stock market (and most investable assets) like a river, working its way from the mountain peak to the sea. There are occasional ‘flat’ sections of the river, where things appear calm…”
04/05/2004 – The Dog That Didn’t Bark
by The Magambo Guru “The Fed has screwed up, massively. And the result is, the United States is headed down the path to economic ruination…”
03/30/2004 – Waves Of Commodities
by Marc Farber “We could see prices of certain commodities double – or even treble – from their present levels in a speculative mania…”
03/26/2004 – Something Wicked This Way Comes, Part II
by Bill Bonner “Alan ‘Bubbles’ Greenspan, George W. Bush and all the great nabobs of positivism assure us that there is nothing to fear. But by this stage of a ‘recovery, ‘ the U.S. economy should have created 2-3 million more jobs…”
03/24/2004 – Policy Traction
by Kurt Richebacher “In the past three years America has experienced an interest rate collapse, a record fiscal stimulus and the loosest monetary policy imaginable fueling money and credit creation at a scale that has no precedent in history…”
12/05/2003 – The Madness Of George II
by Bill Bonner “The madness of George II, reigning president of the American government, is that he believes he can do what has never been done. Our worry is not that George II will be proved wrong…”
08/19/2003 – The Salad Oil Swindle
by Dan Ferris “Buffett’s strategy – buying beleagured-yet- fundamentally sound companies at depressed prices – still holds inveterate lessons for the investor with a would-be growing net worth.”
07/30/2003 – Gasbackwards
by Chris Mayer “Today, natural gas is delivered to about 175 million American consumers through a 1.3 million-mile network of underground pipe. Unfortunately, many of the natural gas wells in the United States are beginning to run dry.”
06/13/2003 – Shock And Awe
by Bill Bonner “the most astonishing thing about this mad investment world is neither the extremity of the U.S. financial condition, nor the absurdity of the official response. Perhaps at no time in the past has the U.S. balance sheet…”
03/31/2003 – Imminent Crash?
by Steve Sjuggerud “I know you’re probably wondering, ‘Steve, how can you say there’s no real estate crash imminent?’ Well, there are two things to point t value and buyers. It may be hard for most to believe…”
03/28/2003 – When Bush Comes To Shove
by Bill Bonner “Intellectuals have long since come to see the world in a different way: it is a mechanistic world, not a moralistic one, they say. All people have to do is to push the right buttons and pull the right levers…”
02/28/2003 – A New Class Of Leadership
by Marc Faber “Investors who have a longer-time horizon should not be overly concerned about the recent bout of selling in the gold market. A further decline is not a forecast, but merely a possibility which investors should consider.”
02/27/2003 – Hip Dysplasia
by Dan Denning “Pavlovian investors are asking for it. Piling into tech stocks may have been hip at the top of the bubble…but, as history shows, it simply makes no sense to keep investing in the best-performing stocks…”
02/03/2003 – The Case For China
by Marc Faber “The rise of China as Asia’s dominant economic and political power raises a number of issues. It is obvious that with a population of 1.2 billion, China will be the largest consumer in the world for most goods and services.”
04/08/2002 – Lethal, But Not Serious
by Bill Bonner “Reason is no rampart against imbecility. Man, with his power of reason, is badly designed. Since he is able to reason, he imagines that the world and he himself acts the way he thinks reasonable.”
11/13/2001 – Back To Japan
by Bill Bonner “No comparison is ever perfect, and every situation is different. The economy is always new. But the novelty of a situation is often less instructive than its essence – that is, the things that are not new about it.”
10/29/2001 – Tsar Of Arabie
by Bill Bonner “‘It isn’t an overstatement to say that the economic fate of the world revolves around the reliable and unimpeded flow of oil from the fields of Saudi Arabia. Indeed, that has been the case for more than 40 years’…”
10/18/2001 – Timber
by Bill Bonner “In surveying the investment landscape of the last hundred years, Jeremy Grantham has noticed that only one investment“ trees – has provided fairly consistent healthy yields throughout booms and busts…”
09/25/2001 – Concrete And Oil
by Bill Bonner “Today, I offer you two ways to take advantage of the coming bear market rally if there is to be one. Or, merely a chance to buy stocks that are good enough and cheap enough that you could hold them…”
07/25/2001 – Negotiating The “Bride Price”
by Dan Denning “”…Hmmn… Kazakhstan. Risky? Perhaps. But here at the Daily Reckoning, we like to overturn the occasional emerging market rock to discover what slithery creatures lie beneath.”

Rude Awakening Articles on Oil

10/05/2005 – “Swimming in Crude”
by Eric Fry “The average trout is very much like the average investor. It travels in groups and it chases after shiny things.”
09/14/2005 – See Oil Demand!…See Oil Demand Fall!
by Eric Fry “If only the Wall Street Journal would produce a Weekly Reader version, we might be reading sentences like these in upcoming editions. We might also be reading sentences like, See Oil Prices!…See Prices Fall!”
09/08/2005 – Katrina Plays, Part 1
by Eric Fry “All last week, while Katrina was visiting misery on hundreds of thousands of Gulf Coast residents, she was also lavishing riches on hundreds of thousands of investors.”
07/21/2005 – What Red Menace?
by Chris Mayer “The Chinese do not have all the answers, but many Chinese companies certainly have the right ideas, capitalistically speaking.”
07/07/2005 – Bubble Anatomy
by Kurt Richebacher “Almost half of this year is already behind us. The biggest surprise, certainly, is the suddenly disappointing economic data about the U.S. economy.”
07/06/2005 – The Three Things Rich People Do All Day
by Dan Ferris “You don’t drop the pounds with magical pills and fads. Classical music will never appeal to the impatient. As for investing…well you already know the secrets there, don’t you?”
06/23/2005 – Oil at a Crossroads
by Justice Litle “Crude oil finally reached $60 a barrel…Is $70 next? Or $50?”
06/21/2005 – Financial “Trompe L’Oeil”
by Eric Fry “What do Flemish Renaissance painters and exchange traded funds have in common? Both have the capacity to create equally lifelike deceptions.”
06/01/2005 – A Bit About Drilling
by Eric Fry “Not surprisingly, therefore, the cost of finding and pumping a barrel of oil — including labor, equipment and seismic testing – cost a record $17.12 last year, up 43 percent from a year earlier, based on data compiled by Bloomberg News.”
04/15/2005 – Nothing About Breasts

by Eric Fry “No breasts in today’s edition, just a slaughterhouse: grisly, chilling and littered with the carcasses of herding animals…”
04/08/2005 – Fighting The Tape
by Eric Fry “‘I’m looking for managers that are good stock-pickers, but also know how to get out of the way of the tape. Unfortunately, they’re hard to find,’ an influential hedge-fund consultant complained.”
04/07/2005 – Less Filling, Tastes Great
by Eric Fry “Pair trading” is the non-alcoholic wine of investing. It may resemble the real thing, but delivers none of the buzz…or so some folks think…”
03/29/2005 – Backwardated
by Eric Fry “Wall St. is best known for its congenital optimism…but when it comes to the commodity arena, the Street is plain pessimistic. This stubborn streak gives sharp investors a chance to break down the house…”
03/24/2005 – 1994 Revisited
by Tom Dyson “The chairman’s quarter-point rate hike on Tuesday stunned the financial markets. But gold took it particularly badly. The big question is: what happens now? Eric Fry explores… ”
03/17/2005 – Pricey Liquids
by Eric Fry “One Budweiser and two ordinary glasses of wine should not cost $64…not even in Manhattan. But they did. And to hear most “experts” tell the tale, crude oil shouldn’t cost $56 a barrel…but it does.”
03/04/2005 – The Oil Pit
by Eric Fry “He was standing so close to the crude oil trading pit – on the floor of the New York Mercantile Exchange – that an airborne “Buy” ticket nearly grazed his cornea.”
02/18/2005 – Slick Oils
by Eric Fry “A letter from a fund manager reveals an unexpected approach to trading crude oil. Although he’s a commodity broker, he loves oil stocks.”
10/14/2004 – Commercial Catastrophes
by Dan Ferris “They appeared in the letter I wrote to subscribers in January of this year. I went on to describe how an opportunity to safely double your money over the next few years was created by some of the worst catastrophes in history…”

Featured Articles on Oil

Bottleneck Blues = Good News For Refiners
by Justice Litle “Crude oil isn’t useful in its raw form – it has to be processed and transformed into various end-user products. The refineries are running flat-out, and there simply isn’t enough capacity to handle demand.”
Pain At The Pump
by Justice Litle “It has been said that the difference between Americans and Europeans is that Americans think 100 years is a long time, while Europeans think 100 miles is a long way. That may yet change.”
Made-For-TV Reality
by Kate Incontrera “What’s happening with Hurricane Dennis is not quite at the level of the disasters that ensued in ‘Oil Storm,’ but the storm did force the evacuation of 445 rigs and platforms, according to a report from the U.S. Minerals Management Service.”

A Canadian “Hotshot”
by Tom Dyson “Your junior Baltimore-based editor is on a 2-week joyride through the unforgiving wilderness of Northwestern Canada. Tom Dyson’s journey begins here…”