May 07, 2011
Since the conflict in Libya really started to get messy, oil prices have risen steeply—from about $103 in mid-February to $123 a barrel last week. Given the country’s drop off in production (it represents about 2 percent of the world’s crude), the vote for separation of South Sudan (an oil producer) and the violence that has come from that, the continuing declines in oil production in Mexico and Venezuela, and the strikes and other problems in Gabon, Yemen, Oman, Ivory Coast, and Nigeria, the rise in price seems somewhat justified.
Silver and Gold, Prices and Ratios
April 25, 2011
Silver and gold prices continued to rise today: In New York, silver futures almost hit $50 an ounce, which would be a thirty-year nominal high, before settling at $47.15. Meanwhile, after breaking the $1,500 mark for the first time last Thursday, gold futures also climbed, hitting $1,508.60 per ounce at the end of trading. Traders pointed to "a falling U.S. dollar, inflation fears, worries about mounting government debt burdens and continued unrest in the Middle East and North Africa" as reasons for the rise in silver and gold prices.
Will Facebook Make China More Connected?
April 11, 2011
This morning, news broke that social-networking giant Facebook has signed a deal with Chinese search engine Baidu to develop a Chinese social networking service. The deal is a winner for both sides: Facebook is currently blocked in China, while Baidu has been unable to translate its dominance of the search engine market into similar success in social networking.
Down the Energy Road Again
March 31, 2011
with Devashree Saha In 2008 gas prices topped $4 per gallon and then slumped during the world recession.
Karl Rove Is -- Gasp! -- Not Being Honest
March 31, 2011
There are certain tip-offs that suggest when somebody is misleadingly describing a politicians' position. One of those tip offs is when you see somebody quoting a small piece of a sentence fragment, which often suggests a statement being wrenched out of context to alter its meaning. Another tip-off is when you read anything in the frequently-misleading Wall Street Journal editorial page. And yet another is when you come across any statement spoken or written by the compulsively dishonest Karl Rove.
Where Is The Outrage?
March 30, 2011
For 42 years, the world did business with Muammar Qaddafi, even as it knew about the brutality he was inflicting on his own people. Too often, there was no outrage in the West about Qaddafi’s crimes. Now, if the same pattern is not to be repeated in Iran, one must ask: Where is the outrage about that country’s endemic brutality and its kleptocratic theocracy?
Why Has the U.S. Been So Soft on Bashar Assad?
March 29, 2011
I don’t know where to begin. So let me start with Bashar Al Assad—whose father, Hafez, Jimmy Carter wrote he had higher regard for than any other leader in the Middle East. Barack Obama never said anything quite that hagiographic about the son. But Hillary Clinton, his pliant chief diplomat, told “Face the Nation” on Sunday that the Syrian president was considered by members of Congress from both parties to be a “reformer.” How many senators and representatives will own up to Hillary’s characterization? It is hokum. The hokum started long ago.
Some Questions About Obama’s Speech
March 28, 2011
We have found much to like in President Obama’s actions over the past week. He acted to stop a looming slaughter in Libya—a decision that, based on the number of lives it likely saved, must now be judged a clear success. Moreover, the air campaign against Qaddafi has significantly weakened one of the world’s most brutal dictators, providing momentum and hope to the rebels who are fighting to unseat him. This has not just been a hopeful development for Libya; it is also a hopeful development for the entire Middle East.
Obama and American Power
March 28, 2011
Presidents and secretaries of state have not always come entirely clean in explaining why they were doing things, especially military actions. They tend to leave out key motives: Think of Ronald Reagan invading Grenada in 1982 to save medical students who unaccountably found themselves in danger; George H.W. Bush conjuring up Iraqi atrocities in Kuwait, but not mentioning Iraqi control of global oil; or George W.
Why We Need Journalists
March 21, 2011
The mainstream media is under attack, not just from market forces but also from critics. Sometimes those critics make good arguments. Sometimes they don't.