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We pause now, in what has lately been a laundry list of fiscal and monetary folly, to bring you alarming news about energy.

The Organization of Petroleum Exporting Countries (OPEC) Friday said it would cut oil production quotas by 1.5 million barrels a day in an attempt to put a floor under oil prices, which have plunged nearly 60% from their July record.

When it comes to high-priced oil, Congress just doesn’t get it.

In the energy market Thursday, crude for July delivery pulled back after breaching the $135 level in overnight electronic trading, closing at $130.80/barrel, down $2.36. July reformulated gasoline dipped 7.03 cents, to $3.3297/gallon.

Is BHP Billiton (ASX: BHP) a serious oil player? Or, let’s put it this way.

With oil prices pulling back this week, perhaps not unsurprisingly, from the psychological barrier of $125 a barrel, it’s a good time to take stock of where we are and where we’re going.

Everyone knows markets hate uncertainty. Nowhere is that borne out more than in biotech.

Poking through dusty ruins looking for our future. Greenspan and Bush accomplished a great feat…an explosion of spending that has blown up in our faces. The U.S. still on a slip-n-slide…and more!

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.