It's been 40 years since the Strategic Petroleum Reserve, or SPR, a massive volume of crude oil being stored on the Gulf coast, was a gleam in the government's eye.
Articles by Mike Obel
- Emerging Markets Currency Sell-off: No Consensus
August 23 2013 10:22 AM
The bull market in emerging markets securities has paused or ended, depending on which analyst you follow.
- Philippines Eyes Robust GDP Growth In Decade Ahead
August 23 2013 8:44 AM
The southern half of East Asia is set to grow economically over the next decade faster than the northern half of East Asia.
- Wal-Mart Posts Disappointing Q2 Results
August 15 2013 7:25 AM
The world's biggest retailer, which also cut its full-year guidance, said the U.S. payroll tax increase is cutting into consumer spending.
- Homeland Security To Create $6B Cybersecurity Hub
August 13 2013 1:10 PM
The former employer of NSA leaker Edward Snowden landed part of a big cybersecurity contract from the Department of Homeland Security.
- Bill Ackman Resigns From JC Penney Board
August 13 2013 7:00 AM
The giant retailer named Ronald W. Tysoe as its newest director.
- Russia Grants Asylum To Snowden; Fugitive Leaves Moscow Airport
August 01 2013 8:19 AM
The former NSA contractor has been at the Sheremetyevo Airport for more than one month.
- ECB Leaves Key Interest Rate Unchanged
August 01 2013 8:08 AM
The continent's manufacturing sector appears to have found a floor, after months of contracting.
- Barrick Gold Q2 Falls 22% As Its Selling Price Collapses
August 01 2013 7:02 AM
The big Canadian company booked impairment charges of $8.7 billion.
- Fed Stays The Course, Offers No Stimulus Tapering Hints
July 31 2013 2:10 PM
Also, the Fed said Wednesday that its outlook on the nation's economy was slightly less optimistic than a few months ago.
- US Companies Added 200,000 Jobs In July: ADP
July 31 2013 8:34 AM
The July job creation was broad-based and greater than Wall Street was expecting.
- Chrysler's Q2 Surges 16%, But 2013 Outlook Cut
July 30 2013 7:04 AM
Strong demand in the U.S. for trucks and SUVs helped boost second-quarter earnings at the key U.S. automaker.
- Ariel Castro Cops Plea In Kidnapping, Rape Of 3 Ohio Women
July 26 2013 10:59 AM
One of his three kidnapping-rape victims became pregnant with a child who is now 6 years old.
- General Motors Q2 Down 24% But Beats Street
July 25 2013 7:44 AM
The No. 1 U.S. automaker said it's working to slash expenses in its high-cost Australian operations.
- Southwest Airlines Q2 Meets Modest Expectations
July 25 2013 6:57 AM
The Dallas carrier benefited from cheaper fuel and a record high operating revenue.
- Lockheed Martin Q2 Up 10%, Boosts Full-Year Forecast
July 23 2013 8:00 AM
The giant military contractor raised its full-year earnings per share and cash-from-operations forecasts.
- Gold On A Tear This Month
July 23 2013 6:41 AM
Temperatures are not the only thing sizzling in New York this summer; just stop by the Comex and watch the price of gold.
- Detroit Files For Bankruptcy Protection
July 18 2013 3:14 PM
The bill has finally come due for decades of impossible pension promises to municipal unions, corruption and cronyism.
- Just Call It 'Golden Slacks' Not Goldman Sachs
July 16 2013 7:56 AM
The U.S. economy may be sluggish but Goldman Sachs registered another impressive quarter, on trading, loans, and commodities.
- Ethiopian 787 Dreamliner Parked At Heathrow Airport Catches Fire, Runways Re-opened
July 12 2013 12:21 PM
Officials closed two runways and dispatched emergency crews after the plane caught fire; no injuries reported so far.