b2 gurus | business news

Whew, what a week. Sorry for not being able to post last weekend. It was Victoria day holiday and I have been scrambling to meet assignment due dates since then. Some interesting finance news this week relates to Mr. Icahn shoving his way towards a yahoo microsoft merger, but the good stuff was all in the commodities sector. Oil, the blackest of gold, has been soaring high. Airlines on the other hand have been cutting costs due to declining profits. The rise in oil prices has added billions of expenses to the airline industry, and related shares are dropping fast (even faster than my marks at school :O) Lastly, but not least, General Motors cut another 1000 jobs. UGH

Well, recently, I heard that McGuinty is going to talk to some Fiat execs and try to lure a new plant to Ontario. That would create a whole new lineup of jobs and help stop Ontario economy from its continuous decline. Good luck McGuinty, we are all counting on you

So back to oil, it is at a rediculous price, and speculating investors are pushing its futures up everyday. The markets are slumping because of this. I have even read an article wondering what would happen to the world if a barrel of oil hit $300. :O *GASP Well, many believe the world would be better if that were to happen. Just think about it, things could not be that bad. Many countries already have oil prices at rediculously taxed rates. Some major differences would be increased recycling, high efficency mini-cars, a better mass transit systems, and moving closer to your workplace. The oil sands over in Alberta would most definately also become ravaged. They say, the tarsands may contain approx. 1.5 trillion barrels of oil (WOW! That is a lot of money!), but I have seen environmental videos and I question if we will lose more if we increased drilling. One single barrel of oil causes over 75 kgs of greenhouse gasses to be released, and creates so much toxic water waste, it is mind exploding. Oil sands production also takes up approx. 10% of all natural gas consumption. and uses mutiples more water than the city of Calgary.

But hey, we all want to drive so who cares?

-Ahh! WHO CARES?

We should care, people are dying and developing cancer from all that oil contamination.

-HUMM, What about our DYING economy?…..

*What do you guys think?