MANAGUA, Nicaragua - There is no shortage of good things to eat in the open-air Wholesale Market here in Nicaragua's capital. Canvas sacks groan with rice and lentils. White eggs are stacked neatly, 30 to a box, fresh from the

WASHINGTON (Reuters) - Democrats in the U.S. Senate on Wednesday unveiled a new energy package that would revoke $17 billion in tax breaks extended to big oil companies like Exxon Mobil Corp and slap a 25 percent windfall profits tax

NEW YORK (Reuters) - Oil prices rose 1.4 percent on Wednesday, extending further into record territory amid intensifying worries over tight world supplies of diesel fuel. U.S. crude leapt $1.69 to settle at $123.53 a barrel, before hitting an all-time

It would be more amusing had I not been personally involved. Three years ago I was a lone voice outrageously predicting $100 oil, debated on many occasions on national TV by those predicting $50 or even less. The tapes are

The world press, especially the Western press and specifically the financial press, has jumped all over the headlines of the discovery of a huge oil field in Brazil's continental shelf. Naturally, if verified, it would be the greatest discovery in

House Judiciary Committee hearing testimony on impact of record at the pump. NEW YORK (CNNMoney.com) -- Gas prices are expected to keep up their record rise this spring, soaring well past $4 a gallon in some areas. Now Congress wants

A good, reliable automobile can make the difference in getting up from the bottom, and some groups want to give a leg up. NEW YORK (CNNMoney.com) -- If filling your tank with $3.60 a gallon gas is a serious economic

It may be counter-intuitive to argue that oil prices will climb during a year in which most of the leading economies are slowing down. Yet, global oil prices have been climbing sharply, hitting a new high of $122 per barrel

On Monday, Matthew Simmons, chairman of investment bank Simmons & Co. International, said at a conference oil prices "will go through $200 a barrel like a hot knife through butter." Doug Porter, deputy chief economist for BMO Capital Markets, said

We didn't elect them. We can't throw them out. And they're getting more powerful every day. Call them the superclass. At the moment, Americans are fixated on the political campaign. In the meantime, many are missing a reality of the

If crude hits $150 a barrel, we could be looking at $5 a gallon or so for the retail price of gasoline. That's based on Tuesday's $3.61-a-gallon national average and the rule of thumb that, for every $1 increase in

Several US airlines, roiled by unrelenting fuel costs, disclosed this week that they are winnowing daily flights to certain destinations, eliminating entire routes, and in some cases withdrawing from airports - and this is just the beginning. A Goldman Sachs

Emerging markets like Turkey and Brazil will face grave problems in controlling inflation and money supply because of the expansionary economic policies of industrialised countries, Kemal Dervis the head of the UNDP said on Wednesday. "This may cause us a

Oil jumped to another record on Tuesday, and the government said it expected gasoline prices to peak at a national average of $3.73 a gallon in June, just as the summer driving season kicks off. The new forecast from the

EasyJet warned that the high cost of fuel will force more airlines to the wall this year as it admitted that profits are at the mercy of the global oil price. The low-budget carrier reported a 14.7% increase in passengers

As oil blasted to a new record above US$122 a barrel yesterday, a new report suggests a "choke point" of US$150 a barrel could slam growth in the United States and cause a rout in stocks similar to the early

by Newt Gingrich ...Here are nine acts of real change that would begin to rebuild the American people's confidence that Republicans share their values, understand their worries, and are prepared to act instead of just talk. The Republicans in Congress

Thanks to record crude oil prices, OPEC members will likely earn over $1 trillion this year from oil exports, according to the U.S. government's top energy forecasting agency. Net oil export earnings from the Organization of the Petroleum Exporting Countries

For the first time since 1990, advanced domestic combat vehicles will parade through the Red Square on May 9. Muscovites will see tanks Ò-50 built by Uralvagonzavod (member of the Association of Oil and Gas Equipment Manufacturers), strategic missiles Topol-M

JAKARTA: Asia grappled with a response to inflation on Tuesday in an era of $120-a-barrel oil and record commodity prices, with Indonesia raising rates and other countries saying that they hoped the problem would soon be under control. Inflation in