A recent story in the Financial Times covered the possibility that Nigeria’s crude oil output could fall by a third in the next seven years. The problem is, Nigeria is one of the top five foreign oil suppliers to the U.S.

Venezuelan President Hugo Chavez said a few months ago that if the United States invades Iran, we could expect to see oil at $200 a barrel. With oil already approaching the $120 mark, we may get there even without invading Iran.

Oil Touches Record Set Only Last Month… The Surprise Report That Set off the Rally…IMF, Fedheads Both Seeing U.S. Recession… And Guess Who Says It’s Already Started?…Amoss Unpacks Fed’s Newest Liquidity Scheme…Williams’s Hyper-inflationary “Armageddon” Outlook…New Commodity Boom: Thieves Get the Lead Out…Hugo vs. Homer: Clash of the Titans

Uh oh, what’s this? “Argentina may face worst unrest since the ’70s”, says a headline in the TIMES of London. Hmmm… we’re on a way to Argentina on Friday… to see our new grandson. The last thing we want is trouble.

U.S. jobs suffer, unemployment rises, record number of Americans say U.S. on “the wrong track”. How the subprime housing crisis could keep your kid from going to college. Congress prepares multibillion-dollar housing bailout…who will benefit and who won’t. Chavez at it again…which industry has become the latest Venezuelan nationalization.