Word: barreling
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...great performer, flying around the stage and making fun of his profuse sweating and apocalyptic fears. He did an impression of Tim Geithner as an elf from Lord of the Rings and a solid inflation joke about Geithner's being turned away from Antiques Roadshow after bringing a barrel of U.S. dollars. This was much better than my runaway-inflation joke about paying $20 to watch a Glenn Beck concert in a movie theater...
...With oil prices reaching a peak of $160 per barrel during his presidency, Ahmadinejad's government has collected about $280 billion in oil income over four years, as much as his predecessors did in their cumulative 16 years in office. He has used some of that money to distribute cash handouts across Iran to facilitate loans to lower-income families, provide housing subsidies and raise wages and pensions for government employees. "My parents are both retired teachers, and yet they could barely sustain our household of seven," said an enthusiastic Amin Kazemi, a 19-year-old student of software engineering...
...Still, there’s more. A unified Democratic government passed a partisan $787 billion stimulus bill and another $410 billion spending bill. After promising to end the Republican tenure of pork-barrel spending, these massive bills included titanic lists of pork projects. The projected budget deficit for the fiscal year 2009 grew to $1.8 trillion, or a shocking and nearly unprecedented 12.3 percent of our gross domestic product. They then proceeded to pass a new record-breaking $3.6 trillion budget for the upcoming year...
...those feeling the pain at the gas pumps, however, there is one piece of good news. Oil is unlikely to hit $147 a barrel again - at least not during the coming decades. The U.S. Energy Information Administration said on Wednesday that oil prices would likely rise to $110 a barrel by 2015 and $130 a barrel by 2030. By that time the world oil markets might once again follow the normal rules of economics...
...major Nigerian government offensive against rebels has seriously disrupted production for several weeks. Venezuela's Oil Minister Rafael Ramirez said in Vienna that his country could not afford to invest in major new oil exploration unless prices rise further. "We need a level of at least $70 [a barrel] to recuperate investment," he said on Thursday. Muhammad-Ali Zainy, senior energy analyst at the Center for Global Energy Studies in London, says oil demand could increase quickly once the recession ends, especially as China has begun to build up its strategic oil reserves. "We think the price is going...