U.S. to sell $10.8B in missiles, bombs to Saudi Arabia, UAE

The Pentagon said Thursday it planned to sell Washington’s Gulf allies Saudi Arabia and the United Arab Emirates $10.8 billion worth of missiles and munitions, including “bunker-buster” bombs. The move follows a series of U.S. weapons deals in recent years that have bolstered the air power and missile arsenals of Gulf states, which view Iran […]

The 1973 Arab Oil Embargo: The Old Rules No Longer Apply

On Dec. 23, 1973, cars formed a double line at a gas station in New York City. The Arab oil embargo caused gas shortages nationwide and shaped U.S. foreign policy to this day. Marty Lederhandler/AP Forty years ago this week, the U.S. was hit by an oil shock that reverberates until this day. Arab oil […]

Five reasons why government shutdown points to breakup of U.S.

Secession is not just for unreconstructed Confederates anymore. On both the right and the left, Americans increasingly see Washington as the problem and local autonomy as the solution. Despite all the talk, the federal government shutdown hasn’t greatly affected daily life for most Americans so far. Some have been hit hard, especially federal employees, those […]

The sun is setting on dollar supremacy, and with it, American power

All great empires – from the Greek, to the Roman, the Spanish and the British – have at their heart a dominant means of exchange which is very much part of their political and social hegemony. Once upon a time, it was Roman coinage which was the world’s pre-eminent currency. In more recent times it […]

3 Oil and Gas Tax Loopholes and Subsidies You Didn’t Know About

As one of the most mature and profitable industries in the country, it seems impossible that the oil and gas industry pays less in taxes than the standard federal corporate income tax rate of 35%. In fact, according to data from the U.S. Energy Information Administration, the top major oil and gas corporations paid, on […]

When Countries Go Broke

It’s become almost cliche these days to point out how many governments are broke beyond belief. In Japan, where the country’s debt level already exceeds 200% of GDP, the government has to finance 46% of its budget by issuing more debt. In the United States, the governments add a trillion dollars each year to the […]

Iran’s Nuclear Negotiations Affecting Oil Prices

Bloomberg’s Ryan Chilcote reports on what’s at stake in Iran’s nuclear negotiations in Geneva in the first round of talks since Rouhani took office. He speaks with Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.”

How Much Longer Will the Dollar Be The Reserve Currency?

Nothing lasts forever… (especially in light of China’s earlier comments)   Submitted by Patrick Barron via The Ludwig von Mises Institute, We use the term “reserve currency” when referring to the common use of the dollar by other countries when settling their international trade accounts. For example, if Canada buys goods from China, it may […]

Top Nuke Commanders Terminated Following Missing Nuclear Warheads Report

Two of the top nuclear commanders within the United States have now been terminated following the exclusive high level military leak report by Alex Jones and myself regarding the secret and unsigned nuclear weapons transfer from Dyess Air Force base to South Carolina. Disturbingly, the high level suspensions from top generals within the military establishment are not […]

China Calls for World to Be ‘De-Americanised’

China’s official news agency has called for the creation of a “de-Americanised world”, saying the destinies of people should not be left in the hands of a hypocritical nation with a dysfunctional government. Heaping criticism and caustic ridicule on Washington, the Xinhua news agency called the US a civilian slayer, prisoner torturer and meddler in […]

France’s Fracking Ban ‘Absolute’

France’s constitutional court upheld a ban on hydraulic fracturing, ruling that the law against the energy-exploration technique known as fracking is a valid means of protecting the environment. The 2011 law “conforms to the constitution” and is not “disproportionate,” the court in Paris said in a decision posted on its website today. Schuepbach Energy LLC, […]

Government And Oil Industry Need ‘Regulatory Detente’

Regulation after regulation has been thrown at the oil and gas industry by federal and state agencies since 2009. All 13 federal agencies that regulate a portion of the oil and gas industry have tried in some way to make it more difficult to drill, produce and refine hydrocarbons in the United States. The Environmental […]

Heinberg: Shutdown and default: the worst-case scenario

I’m not saying the worst is going to happen. But if it does, matters could get depressingly bad, disturbingly fast. How bad? Start with Treasury Secretary Jack Lew’s estimate of the potential damage from a failure by Congress to increase the nation’s borrowing limit. On Sunday morning’s TV talk shows, he pointed out that credit […]

Iran Wants Atomic Resolution Through Negotiations

Iran wants to resolve an impasse with Western powers over the nation’s disputed nuclear program through talks, the speaker of its parliament said today, ahead of a planned resumption of their dialogue. “My feeling is that Iran wants to see a resolution to the matter through political negotiations,” Ali Larijani, also a former nuclear negotiator, […]

Don’t forget about Syria just yet

Mika Minio-Paluello, Anna Galkina and James Marriott are travelling in North America as part of a book-tour to promote The Oil Road – Journeys from the Caspian to the City of London. You can find more info about their confirmed speaking dates in Virginia, the Bay Area, Toronto, Baltimore and Washington DC, New Orleans and […]

War-torn Afghanistan issues oil and gas tender

Blighted by war, corruption and drug trafficking, Afghanistan is no ordinary terrain – even by the frontier standards of the global energy and mining industries. But, with resource wealth estimated at $1 trillion (£620bn), the conflict-ravaged country has made the exploitation of its vast oil, gas and mineral reserves a centrepiece of any economic growth. […]

Civil resistance as deterrent to fracking: Part Two, Shale 911

The on-the-ground citizen victory against those who represented one of the most powerful industries in the world is the result of a multi-pronged, multiyear combination of tactics that has combined into an innovative, compelling strategy. See Part One here. In Part One, Philippe Duhamel explains how La Campagne Moratoire d’une Generation (MDG), the One-Generation Moratorium […]

Saudi Arabia not worried about U.S. debt limit

The central bank of Saudi Arabia, one of the world’s top holders of U.S. government bonds, said on Saturday it was not worried by the political deadlock in Washington that could cause the United States to default on its debt. Asked if he was concerned, central bank governor Fahad al-Mubarak told reporters: “No. They have […]

Ecuador’s Congress OKs Oil Drilling in Amazon Rainforest

Lawmakers in Ecuador on Thursday authorized the extraction of oil from Yasuni National Park, a pristine Amazon reserve. After a 10-hour debate, a loyalist congress approved President Rafael Correa’s plan by a 108 to 25 margin, with four legislators absent. Correa in August announced that he was abandoning a unique plan to persuade rich countries […]

Scottish Independence: All about the Oil?

In less than a year, on Sept. 18, 2014, the people of Scotland will go to the polls to decide if they want their country to remain a part of the United Kingdom or not. A key plank in the argument of the Scottish Nationalists, who are campaigning for an independent Scotland, is that there […]

The Peak Oil Crisis: Oil & a Government Default

It was only a month ago that we were worried that a U.S. strike on Syria in retaliation for the poison gas attacks would trigger a wider war in the Middle East sending gasoline prices spiraling. In the last two weeks however, and much to everybody’s surprise, an era of good feeling broke out in […]

Israelis Prepare Themselves Regardless

Mindful of news of the U.S. delaying its military action on Syria to pursue the Russian plan for international monitors to take control and destroy Syria’s arsenal of chemical weapons, Israelis continue to collect their gas mask kits at Home Front Command distribution centres. “Nothing’s sure in this country. There’s tension, then there’s relief, then […]

Peak oil and unaffordable fuel subsidies in Sudan

As many oil producing countries, Sudan subsidizes petrol and diesel prices (compared to world market prices). But this has become unaffordable. What complicates matters is that South Sudan, where most of the oil is, became independent and fights continued over who owns the Abyei-Heglig oil fields and other border issues. Oil production dropped like a […]

Government Shutdown: The Next Step In The Collapse Of The Dollar?

There is a considerable amount of debate in alternative economic circles as to whether a federal government shutdown would be a “good thing” or a “bad thing”.  Frankly, even I am partially conflicted.  I love to read mainstream news stories about how a shutdown in the capital would be “horrible” because Barack Obama might have […]

Russia Introduces Tax Breaks to Encourage New Oil Exploration

Russia introduced new tax breaks on Monday encouraging oil firms to explore hard to reach undersea fields, in the hope of unlocking new reserves as the country approaches full production capacity from its dwindling oil deposits in West Siberia. Russia, the world’s top energy producer, is now pumping close to its maximum capacity, around 10.5 […]

Saudi Arabia “Outraged” At Obama’s Peace Overtures With Syria, Iran

Back in August, just after the false flag chemical weapon attack in Syria, we showed that despite all the posturing by the Obama administration (and, of course, France’s belligerent, socialist leader Francois Hollande), the nation behind the entire Syrian campaign was not one of the “democratic”, Western nations but none other than close neighbor Saudi […]

Iran Oil-Export Revival Needs More Than Obama Phone Call

U.S. President Barack Obama and Iran’s Hassan Rouhani must build on their weekend phone call to convince crude traders that a thaw in relations will open the way to increased oil exports. While the historic conversation Sept. 27 will probably limit gains in prices, any “long-term” declines for crude will depend on the success of […]

Egypt asks UAE to fund natural gas delivery

Egypt’s Petroleum Authority has said the government has asked the UAE to provide EGP1.3bn in funding for the delivery of natural gas to 800,000 Egyptian homes, Anadolu has reported. The project will reduce the amount of subsidies allocated by the government every year to butane gas cylinders, a main source of cooking in Egyptian homes. […]

Another Big Oil Producer For Africa? Chad Hopes To Triple Crude Output By 2015

Chad is ramping up its oil production with an eye to spurring development, and its finance minster said he hopes to see output triple in as little as two years. “We aim to become the business hub of Francophone central Africa,” Finance Minister Atteib Doutoum said, according to Bloomberg. The extra revenue will be used […]

Obama Talks on Phone With Iran’s Leader, Negotiates With Tehran

“Just now I spoke on the phone with President Rouhani of the Islamic Republic of Iran,” he said. “The two of us discussed our ongoing efforts to reach an agreement over Iran’s nuclear program.” This is the first time leaders from America and Iran have spoken since 1979. “I reiterated to President Rouhani what I said […]

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