Peak Oil Crisis: The Middle East in Context

While awaiting further developments in the Syrian poison gas crisis, it is a good time to review the general deterioration going on across the Middle East and the outlook for oil production from the region. Hardly a month goes by without some new Middle Eastern crisis arising with implications for the region’s oil exports. Last […]

Arab countries offered to pay for invasion

Secretary of State John Kerry said at Wednesday’s hearing that Arab counties have offered to pay for the entirety of unseating President Bashar al-Assad if the United States took the lead militarily. “With respect to Arab countries offering to bear costs and to assess, the answer is profoundly yes,” Kerry said. “They have. That offer […]

Here Are the Four Missiles That May Fly Over Syria

Bloomberg contributor Richard Falkenrath identifies the four missile weapons systems most likely to be used in the event of an American intervention in the Syrian conflict. (Video from Department of Defense)

SEC bows to federal court on oil rule

The Securities and Exchange Commission (SEC) on Tuesday said it plans to rewrite regulations that would force oil and mining companies to disclose payments to foreign governments. A court struck down a version of the regulations in July, and an SEC spokesman said the agency does not intend to appeal the ruling. “The court remanded […]

The top 9 real reasons to go to war in Syria

In no particular order: One: Give the appearance of unifying the country behind the President, who “did his job the right way,” by going to Congress for approval. This elevates Obama’s ratings and, by inference, suggests that his other programs should be accorded more merit. A wartime president always gains more support. Two: Give the […]

Gas Driller Freezes Plans in Britain after Fracking Protests

Oil exploration at a site in rural England that sparked anti-fracking protests two weeks ago will be put on hold later this month and reconsidered next year with the freeze hailed a “cautious victory” by campaigners. Shale gas driller Cuadrilla Resources on Tuesday withdrew an application to extend drilling and horizontal well testing at a […]

Syria and the geopolitics of oil

The global energy market is ruled by geopolitics. With tensions continuing in Egypt, Libya and Iran, and with Syria now added to the mix, things are looking shaky in the Middle East. This week, Counting the Cost discusses what might happen, and how the markets can avoid more potential oil shocks. When there is the […]

Pemex problems

I have written several times about the quandary the Mexican government faces with its state-owned petroleum company, Pemex, which was nationalized in 1938 and has become a symbol of Mexico’s independence and stand against foreigners. One of the most prolific petroleum producers in the world, Mexico will soon approach the status of being a net […]

India oil minister plan to shut gas stations at night

India’s opposition on Monday poured scorn on an oil ministry proposal to close petrol pumps at night, the latest in a series of ideas evoking the country’s austere past as the government grapples with a jarring fall in the value of the rupee. The rupee has plunged almost 20 percent since May, partly on concerns […]

What Syria tells us about world oil supplies

I’ve been watching old episodes of The West Wing, the acclaimed television series about life and work in the West Wing of the White House. In one sequence of shows, bombers kill two U.S. congressmen and a former chairman of the Joint Chiefs of Staff who are on a fact-finding mission to Gaza. Pressure mounts […]

What Syria tells us about world oil supplies

I’ve been watching old episodes of The West Wing, the acclaimed television series about life and work in the West Wing of the White House. In one sequence of shows, bombers kill two U.S. congressmen and a former chairman of the Joint Chiefs of Staff who are on a fact-finding mission to Gaza. Pressure mounts […]

Who Benefits From A War Between The United States And Syria?

Someone wants to get the United States into a war with Syria very, very badly.  Cui bono is an old Latin phrase that is still commonly used, and it roughly means “to whose benefit?”  The key to figuring out who is really behind the push for war is to look at who will benefit from […]

Will military strikes push oil prices to record highs?

As politicians in the US and Europe move closer to launching military strikes in Syria, the uncertainty in the country and the prospect of further instability in the Middle East is being reflected in the financial markets. In recent days, the price of oil has surged to a six-month high. A barrel of Brent crude […]

In Stunning Move UK Parliament Rejects Syria Military Strike, Obama “Willing To Go It Alone”

Moments ago the UK House of Commons, in a razor thin vote, rejected the Cameron proposal for military action in Syria with a vote 285 to 272. Cameron promptly said he would respect the will of the House of Commons and UK Defense Secretary Phillip Hammond confirmed there would be no UK military intervention in […]

Power Grid Down Drill To Be Conducted By US Government

Power grid vulnerabilities are finally garnering some attention by government officials. An electrical grid joint drill simulation is being planned in the United States, Canada and Mexico. Thousands of utility workers, FBI agents, anti-terrorism experts, governmental agencies, and more than 150 private businesses are involved in the November power grid drill. The downed power grid […]

Considering some oil numbers before the inevitable in Syria

As the likelihood of an attack by Western powers on Syria continues to roil the oil markets, here are a few numbers that we offer as background: Syrian production: It’s about 50,000 b/d. A few years ago, it was about 350,000 b/d. Days’ cover: This figure is just for OECD nations, which consist of 34 […]

Oil could hit $150 if Syria war spreads

Brent crude oil is likely to rise towards $125 a barrel if the West launches air strikes against Syria and could go even higher if the conflict spills over into the rest of the Middle East, Societe Generale said on Wednesday. Michael Wittner, oil analyst at the French bank, said the North Sea crude oil […]

Assad: Failure Awaits the USA

Syrian President Bachar al-Assad has warned President Obama not to take military action against his country since: “Failure awaits the United States as in all previous wars it has unleashed, starting with Vietnam and up to the present day”. Assad’s declaration will probably be more damaging to the over-inflated ego of the world’s policeman that […]

15 Signs That Obama Has Already Made The Decision To Go To War With Syria

Following John Kerry’s press briefing, it appears the Obama administration seems absolutely determined to help radical Islamic jihadists that have beheaded Christians, that have massacred entire Christian villages, and that have pledged loyalty to al-Qaeda topple the Assad regime and take over Syria.  Yes, the Assad regime is horrible, but if these jihadist lunatics take […]

When Beer and Natural Gas Collide

What happens when oil and gas companies contaminate the water that Brewers rely on for their beer in the State of Colorado? What happens after the citizens of the towns with those beers (Da’ Beers!) passed ballot initiatives to protect their towns? What happens when these towns are sued to force fracking against their will […]

USDA: Rural population needed not for farming but for cannon fodder

Why do we need more farmers? What is the driving force behind U.S. Department of Agriculture policy? In an infuriating epiphany I have yet to metabolize, I found out last Wednesday in a private policy-generation meeting with Virginia Democratic gubernatorial candidate Terry McAuliffe. I did and still do consider it a distinct honor for his […]

Helping Pemex help Mexico

Mexico’s president, Enrique Peña Nieto, unveiled a proposal this month to reform the country’s state-owned oil and gas monopoly Petroleos de Mexico, or Pemex. The plan, which requires a constitutional amendment, would allow foreign firms to partner with Pemex for the first time since 1938, when then-President Lazaro Cardenas nationalized the industry. It’s a plan […]

Iran’s supreme leader does not rule supreme

U.S. President Barack Obama has twice written to Iranian Supreme Leader Ayatollah Ali Khamenei believing that he, not the president, holds ultimate power in the Islamic Republic and the key to unlocking the dispute over Tehran’s nuclear program. But the surprise emergence of President Hassan Rouhani, a close associate of Khamenei who advocates moderation, has […]

Presidential Meeting Signals Catastrophic Event

If there’s one thing we know about how the US government operates, it’s that the American people are often the last to know about serious problems that may be taking place behind the scenes. This week, in a move that has spooked a lot of economic and financial analysts, President Barack Obama held a special, closed door meeting with the […]

Nerve Gas Attack in Syria

Genocide in Syria as 1,300 people including hundreds of women and children are wiped out in nerve gas attack say Syrian rebels as Hague warns use of chemical weapons would mark ‘shocking escalation’ Activists claim 1,300 killed in government rocket strike on residential area If true, it would represent the worst known use of chemical […]

Syria gas attack story has whiff of Saudi war propaganda

The reports of massive chemical attacks in Syria might become the “red line” for the US for active military intervention. But even rudimentary analysis of the story shows it is too early to believe its credibility. The Middle Eastern newspaper, Al Arabiya, reports that “At least 1,300 people have been killed in a nerve gas […]

The Nile Runs Red With Blood

Egypt’s US-financed armed forces have gone to war against Egypt’s people. Arab spring has become Arab winter. So far, army and security police have scored brilliant battlefield victories against unarmed men, women and children, killing and wounding thousands who were demanding a return to democratic government. The latest Cairo protests by supporters of the elected […]

Egypt freezes gas deal talks with Qatar

Cash-strapped Egypt has frozen talks to import liquefied natural gas (LNG) from wealthy Qatar due to the political instability and violence that erupted after the army swept the streets of the supporters of ousted President Mohammad Mursi last week, an official said on Monday. “We were planning to resume the talks very soon but as […]

Saudi prince pledges to fill financial gap from any Western sanctions on Egypt

Saudi Foreign Minister Prince Saud al-Faisal on Monday pledged to fill any financial gaps left by Western countries withdrawing aid from Egypt over an army crackdown on Muslim Brotherhood protesters that has left hundreds dead since last week. Speaking to state news agency SPA in Jeddah after visiting France on Sunday, Prince Saud also accused […]

Iran’s President Acts to Avoid Budget Shortfall, Food Shortages

Iranian President Hassan Rohani’s new government set to work on overhauling the Ahmadinejad administration’s “unrealistic” budget to prevent shortfalls and ensure the availability of basic goods until spring time. At the cabinet’s first meeting yesterday, ministers agreed this year’s budget will be reviewed and a new version presented “within two weeks maximum,” the Tehran-based newspaper […]

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