And Saudi Arabia's thirst for its own oil shows little sign of abating.
Chart Analysis : The weekly chart of crude oil shows the powerful rally from the early-October low as crude oil held above the major 50% retracement support.
All these oil company moves are disguised with explanations like we are buying US Shale Oil instead, yet an examination of US total discovered Oil reserves shows it accounts for less than 1% of the worlds oil, more importantly most of the so called buying is not buying it options to buy 6 months or more from now.
Non-oil business is also booming: a survey of some 114, 000 non-oil companies shows an average 43.9% increase in profits.
The chart of the November crude oil contract shows that prices are reaching the apex of its flag formation, lines f and g.
Eric Smith, associate director of the Tulane Energy Institute, says the BP oil disaster shows that the industry knows how to drill in deepwater, but doesn't have the technology to fix problems if something goes awry.
However, the gold:oil ratio today shows that it is not yet a major factor for prices.
FORBES: Oil Continues to Rise Because the Dollar Continues to Fall
Chart Analysis : The weekly chart of the December crude oil futures contract shows that it formed lower lows, line b, last week.
As history shows, oil supply disruptions have a direct impact on job growth throughout the entire economy.
It also mentions that a million seabirds could have been exposed to the oil, and research shows that hatching success of oiled eggs was lower compared to unoiled eggs.
FORBES: Feds Leave Door Open To Hit BP With Top Penalties For Gulf Spill
On a sector basis, our valuation model shows that the oil-energy sector is undervalued by 2.74%.
FORBES: Trading Energy Stocks With Declining Crude Oil Prices
The chart of the seasonal trend shows that crude oil typically bottoms in February, as indicated by line 1.
"Ultimately, what this spill shows is that offshore oil drilling simply cannot be done safely, " Sen.
WSJ: Oil Industry Recommends Offshore Safety Measures After Gulf Spill
CBI's report shows that the rising oil price is taking its toll on industry.
Emerging Asia and Central and Eastern Europe are the most vulnerable regions in the face of a protracted rise in the oil prices, research by Nomura shows.
FORBES: What Countries Are Most Vulnerable To An Oil Price Shock?
The real agent behind higher oil prices is the Federal Reserve, which my research shows has more power than all the sheiks of Arabia when it comes to increasing the price of oil.
The name BP Amoco Arco Burmah Castrol shows the extent of one oil giant's merger activity, before it wisely chose to rename itself BP.
Figure 1 shows the clearly positive relationship between oil and the Canadian loonie.
FORBES: Use This Currency To Short Oil, Another One To Buy Gold
Simple math shows that a marginal gas or oil well has a power density at least 22 times that of a wind turbine while a nuclear power plant has a power density that is more than 8 times that of a solar photovoltaic facility.
It shows that GLD, SPY, and crude oil all surged in the first two months of the year.
For him to come here and face the people who have been fighting oil development for the past 40 years, at least shows some nerve.
Though its 3.96 million barrels of net oil equivalent per day still puts it well ahead of all publicly traded oil giant except the freshly expanded Rosneft, the slip shows just how hard it is for a giant to keep replacing declining output, let alone grab some growth.
"We carried out research that shows that there are no real mechanisms to contain oil spills in icy conditions, " he said.
There's a chart behind me right here -- we're using visual aids today. (Laughter.) The bar on the left shows that six years ago, 60 percent of the oil we used was imported.
The article shows how stocks have become highly correlated to commodities like gold, oil, copper and even sugar.
FORBES: A Spoonful of Sugar Helps Your Stock Portfolio Go Up
The chart below shows the forecasted price made by analysts compared to the actual Brent oil price outturn.
Those arguing for retaining Scotland's place within the UK say GERS shows Scotland can't go it alone, unless it relies on oil revenues.
Urbanchuk did a study comparing a price hike for oil against the same price hike for corn, which in some form or another shows up in a lot of food.
This experience shows that when the value of the dollar went up, the price of oil went down.
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