Since shortly after 1859, oil has been subject to attempts to control its price, or should I say the price of its refined product, be that kerosene for lighting or, later, gasoline for autos. The first one to try was John D Rockefeller with his development of the Standard Oil Trust in the 1860s and… Continue reading The Global Implications of Oil Price Renormalization (Part 2)
Category: south america
The Global Implications of Oil Price Renormalization (Part 1)
First, we have to understand some of the history and makeup of the commodity. In North America, from time immemorial, the Indians in the Western Allegheny area had skimmed oil seepage off the surface of the water and used it as a medicine. The settlers called it ‘Seneca oil’ after the local tribe and used… Continue reading The Global Implications of Oil Price Renormalization (Part 1)
Review of Gabriel Garcia Marquez’, The General in His Labyrinth
I meant to read this book many years ago, but never got around to it. In a way, I am glad of that, as it resonates more, I think, the older you get. I came away acknowledging that the author really deserved his Nobel Prize for Literature. The novel, The General in his Labyrinth is… Continue reading Review of Gabriel Garcia Marquez’, The General in His Labyrinth
Old Professor by the Sea 