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In a Yardeni Research blog post highlighted by an article in the New York Times, economist Ed Yardeni argued that rising oil prices “may actually be good for the stock market, up to a point.” This is due, in part, to energy sector companies like Chevron and Exxon making up more than 12% of the S&P 500’s market capitalization. Yardeni notes that since late 2008 there has been “a strong positive correlation between energy prices and the stock market.” If prices continue to rise, however, the odds of that positive effect lasting diminishes. “At some point,” Yardeni told the Times,… [more]View Discussion
A number of studies have shown that high oil prices have been a major factor in causing recessions in the United States. The cause of previous high oil prices has often been tied to events such as strikes in oil producing nations (e.g. Venezuela), wars (Iraq invading Kuwait, the Iran/Iraq war, the Gulf war), oil embargoes (Saudi Arabia and other OPEC nations cutting off oil supplies to countries that supported Israel in the Yom Kippur war), and revolutions like the Iranian revolution. In one form or another all of these events could be grouped together as political events that caused high… [more]View Discussion
A Call to Action: Executive Summary by Herschel Specter President, RBR Consultants, Inc. firstname.lastname@example.org This report is a call to action, and it presents a multi-faceted national energy plan that would address the twin threats of petroleum usage and climate change that pose severe, imminent risk to the U.S. economy, environment and national security. It lays out specific goals and actionable approaches â€“ both low-tech and high-tech â€“ that would allow America to avert this looming crisis. By 2036, implementation of this plan should lead to over $11 trillion (2008) dollars in savings through reduced oil consumption and to the… [more]View Discussion