Obamas Stance on Offshore Drilling

The Institute for Energy Researchs Patrick Creighton on whether Mr. Obama has changed his mind on expanding U.S. drilling projects.

Dollar and Euro soon at parity Says Gary Shilling

Dollar rebounds as the Euro Falls , sell Euros and buy Dollars says Gary shilling

Reports of a rescue for Greece is giving the Euro a bounce today versus the dollar. However, Shilling is not about to buy Euros; believing in tough times, investors will continue to flee to the greenback, simply because it's "the best of a bad lot."

With that in mind, Shilling is short the euro and long the dollar. As he tells Henry in this clip, dollar - euro parity is in the offing. "It will go down to one to one," he declares.

Russian Lukoil eyes profit in Iraq

Published 09 February, 2010,
Russia's largest private oil company, Lukoil, has told RT it can make a profit from its huge investment in Iraq.
The head of the firm's overseas operations, Andrey Kuzyaev, admitted that these days they must take risks to make a profit. West Qurna contains the world's second largest known oil reserves. In December Lukoil and Norway's Statoil won the right to develop stage 2 of the project. The companies will earn only $1.15 a barrel under their contract with Iraq's oil ministry, but Kuzyaev says the $30 billion investment is worth it.

Deposits in Iraq are incomparable with those in any part of the glove. Developing the worlds largest hydrocarbon fields stimulates technology and supports contractors with Russian companies among them.