Morning Brief: Gas hits $4
Top Story Darren Hauck/Getty Images The average gasoline price in the United States has surged to a record $4 per gallon. Goldman Sachs expects crude prices to hit $150 a barrel this summer. Even BP’s CEO admitted that “supply is not responding adequately to rising demand.” G8 countries, meanwhile, issued a statement Sunday committing themselves ...
The average gasoline price in the United States has surged to a record $4 per gallon. Goldman Sachs expects crude prices to hit $150 a barrel this summer. Even BP’s CEO admitted that “supply is not responding adequately to rising demand.” G8 countries, meanwhile, issued a statement Sunday committing themselves to cutting oil consumption.
Stock markets tanked Friday after a lousy U.S. jobs report and hedge funds unwound their bets on declining oil. Instead, West Texas oil rose by a record $11.33 on the day. Asian markets followed the Dow downward Monday.
Timothy Geithner, chief of the Federal Reserve Bank of New York, is calling for a global regulatory framework for finance.
Newsweek‘s Daniel Gross on why the economy is worse than you think.
Venezuelan President Hugo Chávez urged FARC to end its guerrilla war.
Its top two leaders were fired last week. What’s next for the U.S. Air Force?
The New York Times asked 13 leading politicos to diagnose what went wrong with Hillary’s Clinton’s White House bid.
The Washington Post looks at how the Iraq war may define the coming campaign.
Middle East and Africa
Northern and southern Sudan have reached a preliminary agreement on Abyei, a disupted, oil-rich area along the (also disputed) boundary between north and south.
Pakistan’s President Pervez Musharraf, responding to the ruling party’s bid to cut his power, vowed he would not become a “useless vegetable.”
Terrorist networks are being methodically dismantled in Southeast Asia, according to regional officials.
First Lady Laura Bush visited Afghanistan.
Spanish truckers are striking to protest high fuel prices.
Western energy companies are still paying fealty to Russia despite weak property rights.
Italy is shipping its trash to Germany.
German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Bavaria this week.
Australia and Japan are holding high-level talks in Tokyo.
The Apple rumor mill expects Steve Jobs to debut a new iPhone today.
Blake Hounshell is a former managing editor of Foreign Policy.
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