January 3, 2011 · Posted in ·
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January 3, 2011 · Posted in ·
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The SPDR Gold Trust (GLD) rose 1.9% and the iShares Silver Trust (SLV) jumped 4.7%. Yet, after four straight losing days post Tuesday, GLD shares are still a price from August levels. Meanwhile, SLV inventory of actual progress from mid-February. In futures markets, gold today regained the psychologically important level of $ 1,600. Gold for December delivery rose 3.6% to $ 1,652.50 an ounce on the Comex attention. December silver gained 5.2% to reach $ 31.54 an ounce. (more…)
Oil continues to spew out of his blasted in the Gulf of Mexico, but BP continued to “innovative” drilling in the Beaufort Sea into U.S. waters north of Alaska. What could go wrong? Plenty. In this context, “innovative” means “experimental.” This plan should be put stop until BP is developing a genuine culture of environmental safety.In an ironic twist that BP critics in a rage, the oil company was the only one who managed to claim an exemption from the six months drilling moratorium imposed by the Obama administration in the aftermath of the catastrophic oil spill BP. (more…)
For the first time in six decades, the U.S. is exporting more gasoline and diesel fuel than it imports. That, if you believe the critics, shows that the Keystone XL pipeline, which would ship crude oil from Canada to Gulf Coast refiners, is an export scam. In other words, the oil that Keystone would bring in will simply be refined and shipped out again, so the whole project is nothing more than a ploy in which U.S. refiners boost profits by tapping lucrative foreign markets.
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