Crude oil is heading for its biggest weekly gain in almost two months as Gustav approaches the Gulf of Mexico.

According to Bloomberg: “Gustav is expected to reach Louisiana next week, passing through a region home to a quarter of U.S. oil output and 14% of natural gas production.”

Hurricanes pass. But over the long term, says energy and oil expert Byron King, we are facing a “profound change” in the future availability of oil. That’s because Western oil companies are being kept away from resources by uncooperative states…

Out in the field, the industry players are doing real work.

Sprott Announces it’s Going Public; Intel Triples its China Investments; Pending Home Sales Plunge; Levi Strauss Stitches Up Profit; Venezuela and India Enter Joint Oil Venture; USEC Gains on Analyst Upgrade; BOJ Solidifies Governor; Lehman Likes Fannie and Freddie.