DailyMarkets.com - Don Boudreaux Responds To O’Reilly’s Nitwitery

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• Don Boudreaux Responds To O’Reilly’s Nitwitery
• Why $100+ Per Barrel Oil Is A Godsend
• Fact Of The Day: Asia Is Largest Consumer Of Oil
• Credit Card Delinquency Rate Falls To 17-Year Low As The National Debt Approaches 100% Of GDP

Don Boudreaux Responds To O’Reilly’s Nitwitery Posted: 25 Feb 2012 09:52 AM PST Watch the latest video at <a href=”http://video.foxnews.com”>video.foxnews.com</a> Don Boudreaux writes a classic and brilliant response to some nonsensical whining by Bill O’Reilly and Lou Dobbs who complain on Fox News (see video above) that “working Americans are getting hosed at the pump” by high gas prices because U.S. oil companies … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Why $100+ Per Barrel Oil Is A Godsend Posted: 25 Feb 2012 09:30 AM PST From Holman Jenkins in today’s WSJ “What’s Right With Gas Prices”: “Ironically, the best therapy [for higher oil prices] is a higher oil price. It makes it profitable to bring into production more costly resources around the world. The rise in recent years to $100-plus a barrel is a godsend. Peak oil theorists are being refuted; so are greenies who imagined a towering oil price would usher in a carbon-free future. The opposite is seen to be true. Oil sands, shale hydrocarbons and even … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fact Of The Day: Asia Is Largest Consumer Of Oil Posted: 25 Feb 2012 09:18 AM PST The EIA has a great interactive chart showing annual global oil consumption from 1980 to 2010.  In 1980, North America was the world’s No. 1 consumer of oil at 20 million barrels per day, and twice as much oil as Asia (10 million), see top graphic in chart above.  By 2010, Asia had become the world’s largest oil consumer at 23 million barrels per day vs. 23 million for North America. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Credit Card Delinquency Rate Falls To 17-Year Low As The National Debt Approaches 100% Of GDP Posted: 25 Feb 2012 08:46 AM PST The Federal Reserve released new data this week on delinquency and charge-off rates at U.S. commercial banks for the fourth quarter of 2011. For consumer credit cards, the delinquency rate fell for the 10th consecutive quarter to 3.27% during the October-December period last year, dropping to the lowest level since a 3.24% reading in the third quarter of 1994, more than 17 years ago (see blue line in chart). Compared to the 4.50% quarterly average since 1991, the delinquency rate on credit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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