Iran’s Ahmadinejad Could Become President of OPEC

TEHRAN (AFP) – Iranian President Mahmoud Ahmadinejad said he has temporarily assumed the duties of the oil ministry, as the oil cartel OPEC prepares for a biannual meeting in Vienna. ...

Muslim Brotherhood: Islam is the Answer to Oil Price Hikes

Of course Islam is an economic solution, because in the Qur’an, obedience to Allah brings prosperity. So if Egypt is suffering economic woes, it is because it is not Islamic ...

$5.00 Per Gallon Gas by Memorial Day

CHICAGO (CBS) – At one time, $5 per gallon gas seemed like a farfetched idea, but that is no longer the case. As CBS 2’s Roseanne Tellez reports, as of Monday, ...

Prospects Fade for Military Overthrow of Gaddafi

TRIPOLI (Reuters) – Libyan government forces tried to storm into the besieged city of Misrata on Friday as NATO generals acknowledged their air power was not enough to help insurgents ...

Gasoline Cost to Jump $700 for Average Household

(Reuters) – U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump, and yearly motor ...

Barclays On How The Oil Price Spike Could Crash The Housing Market Again

The oil price spike, driven by instability in the Middle East, has the potential to cause repercussions in the U.S. housing market, according to Barclays‘ Luca Ricci. The simple reason ...

De Borchgrave: $400 Barrel Oil Imminent With Mideast Upheaval

Award-winning journalist Arnaud de Borchgrave tells us that the increasingly volatile situation in the Middle East could push the price of oil quickly to $300 or even $400 a barrel. ...

Iran Becomes President of OPEC

by Chana Ya’ar The 12 member nations of the Organization of Petroleum Exporting Countries (OPEC) have elected Iran, OPEC’s second-largest oil producer and one of its founding members, to become ...

U.S.A. Has More Oil than Middle East

6 months ago, I was watching a news program on oil and one of the Forbes Bros. was the guest. The host said to Forbes, “I am going to ask ...

Dollar facing ‘power-shift’: analysts

The dollar’s position as the world’s leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said. A report last ...