The recent swings in the spot price for crude oil — especially in light of the currently rapid rising spot prices are cause for alarm. Noting that the current run up of prices looks a lot like period leading up to the sudden price spike that occurred in the summer of 2008. It goes on to argues that the global economy needs a better market regulating mechanism that can help manage these swings and reduce their amplitude so they become less damaging to the world’s economies. The energy business — whether it is alternative energy or oil, gas or coal exploration and development — has huge up front capital needs. This needed capital is much harder to raise in a climate of such extreme near term price uncertainty.
Was Corporate Social Responsibility responsible for the BP spill? Absolutely! CSR? Don’t quit your day job! (so says the Washington Post)