One would think Iraq's instability would prompt a price spike. Instead, they're about where they were a year ago.» Read More
As news and rumors of Iranian belligerence boil, trader Ira Eckstein isn't surprised that oil prices swung broadly Thursday. He and Kenneth Timmerman, Middle East Data Project president, told "Power Lunch" viewers what to expect from petroleum -- and from Iran's leaders.
Texas energy investor Boone Pickens told CNBC that the recent spike in oil prices is due more to "fundamentals" than geopolitical tensions with Iran and that "you're going to look at $70 oil pretty quick." The billionaire said the current market is "very tight" because inventories have declined for seven straight weeks.
The U.S. House of Representatives on Friday voted to impose a Sept. 1, 2008, deadline for withdrawing all American combat troops from Iraq, prompting a quick veto promise from President George W. Bush.
Dubai is again the flashpoint of a patriotism-versus-globalism debate. This time, it's not about a foreign firm encroaching on U.S. shores, but an American company shifting its headquarters to the emirate. And when the firm is oilfield-services provider Halliburton, everyone has an opinion.
Ted Turner calls solar energy the "biggest business opportunity the world has ever seen." And for once, he may be understating it. CNBC's Jane Wells reported on the maverick mogul's plans, on "Morning Call."
CNBC's Sue Herera says that "Hollywood has a megaphone like no other." But Wall Street is, well, Wall Street: the embodiment of big bucks. Which will prove a bigger force in picking the next American president in 2008? John Harwood and Financial Times' Ben White weigh in.
The British are coming, the British are coming -- for American Airlines. Well, maybe not. Despite a Reuters report knocking down BusinessWeek's story of a possible takeover bid for American Airlines parent AMR, speculation abounds. And It would be a good thing, according to Mike Miller -- but he says it probably won't happen.
Chalk it up to the new centrism -- or perhaps it's because some issues are so irksome, Republicans and Democrats must agree that a solution is needed. Whatever the case, two House members joined "Power Lunch" to sound the alarm over the alternative minimum tax (AMT) -- and the 20-month deadline to fix it.
Pollsters often try to make their jobs simpler, by predicting elections via demographic groups. So who does that abstract cross-section called "Wall Street" want in the White House in 2008? The answers may not be so cut-and-dried, says John Harwood, CNBC's chief Washington correspondent.
President George W. Bush sent his $2.9 trillion budget to Congress this morning, kicking off widespread debate in both the House and Senate. This is the first time during his presidency that Bush has delivered a budget to a Democrat-controlled Congress. Considering Democrats have made it clear that they have a different set of priorities, what kinds of challenges lie ahead?
Ever wonder how lately it seems like as geopolitical tensions seem to worsen; the markets don’t seem to notice? Whether it’s terrorism, war or climate change, the world’s major challenges don’t seem to be making much of a dent in the U.S. economy.
President George W. Bush is doing a lousy job steering the U.S. economy -- or, Bush is doing an excellent job -- depending whether you ask economist Christian Weller or GOP strategist Jack Burkman, both of whom joined "Power Lunch" to dissect the president's economic record.
Democrats made a very big deal about all the bills they passed in the House during the first 100 hours of the new Congress. Their legislation addresses key business issues, such as taxes, energy and the minimum wage. Seems like a lot in a short time, but guess what? The next 100 hours might be even more important. CNBC’s Sue Herera found out why.
Last night was the first time in his presidency that George W. Bush gave his State of the Union Speech to a Democratically controlled Congress. He laid out his domestic agenda with a renewed calls for action on energy independence, immigration reform and health care coverage. The last part of his speech dealt with the war in Iraq. So--how did it play with the Democrats and with members of his own party? Steny Hoyer (D-MD)...
Do you feel lucky? That's the question posed by Jeffrey Pasquarella's brainchild: BetOnIraq.com -- a Web site he founded to give brave investors the chance to buy Iraq's young currency. Pasquarella told CNBC's Erin Burnett that 4,000 customers have used the site's foreign exchange service over the past three years, with the "average customer".......
President Bush will give the State of The Union speech next Tuesday night to both Houses of Congress--and the American people--and he does at at time when he has one of the lowest approval ratings of his presidency. So--what can he say at such a time? CNBC's John Harwood appeared on "Squawk Box" to give his preview of the speech--and he was joined in commentary with former GE CEO Jack Welch...
Stocks in the U.S. look set for a weaker opening, influenced by touchy tech stocks, earnings, and the big decline in oil. Dow components GE and Citigroup both reported earnings early today. GE's 12 percent increase was in line with expectations and Citigroup's lower profits were a bit better than Wall Street expected. Citigroup also raised its dividend by 10 percent.
As President Bush prepares to send over 20,000 more U.S. troops to Iraq, one question being asked is--will the escalation jumpstart the country’s oil industry? The question centers on Iraq’s vital oil trade stabilizing in the midst of a bloody war. On “Street Signs,” two guests talked about the Iraq oil situation--Michael Makovsky of the Bipartisan Policy Center and David Kirsch of PFC Energy.
He's running--sort of. U.S. Sen. Barack Obama (D-IL) is a major step closer to actually running for the presidential nomination of his party. Obama announced in high-tech fashion (on his personal Web site) that he's formed an exploratory committee to run for the top spot on the presidential ticket in 2008.
Today, additional U.S. troops are heading to Iraq as a part of the President’s plan to increase armed forces on the ground. A large percentage of the 21,500 additional service men and women will be stationed in Baghdad to help fight insurgents. Asked how long that buildup might last, Defense Secretary Robert Gates said...