Deepwater Horizon led to new protections for US waters. Trump just repealed them.

The Deepwater Horizon offshore drilling rig exploded on April 20, 2010, killing 11 workers. Gas erupted into a massive fireball, and then the rig gushed 4.9 million barrels of crude oil into the Gulf of Mexico. It soon became the largest and most expensive marine oil spill in history, with an estimated $17.2 billion in […]

Russia’s push to increase oil production came independently

Russia’s push to increase oil production came independently, the country’s oil minister said Saturday during the OPEC summit in Vienna, dismissing the suggestion that public pressure from the U.S. played a role in its decision. OPEC ministers announced a deal on Friday that will increase oil supplies from the producer group, which has been capping […]

China Drops Oil Purchases to Dodge Tariff

Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world’s two largest economies, multiple industry sources said. FILE PHOTO: The company logo of China’s Sinopec Corp is displayed at a news conference in […]

The Prince Who Would Remake the World

A few weeks ago, a woman — a prominent media consultant — and her two daughters were shopping at the upscale Kingdom Center mall here. Her daughters, both in their early 20s, had their heads covered on this shopping trip. Hers was not. At the approach of members of the Saudi religious police, whose official […]

How $6 Trillion of Fossil Fuel Investments Got Dumped Thanks to Green Campaigners

It has become one of the fastest growing political campaigns in human history, surpassing similar battles against the tobacco industry and the fight against apartheid in South Africa. Its logic is simple: the only way to avoid climate change and dangerous levels of greenhouse gases in the atmosphere is for most fossil fuel reserves to […]

Dharmendra Pradhan asks OPEC to price oil responsibly

India today voiced its concern over high international oil prices with oil producers cartel OPEC and nudged it to move to responsible pricing that balances interests of both producers and consumers. Oil Minister Dharmendra Pradhan conveyed India’s concerns when he met ambassadors of OPEC countries in India, an official statement said here. “The meeting comes […]

What’s Not on China’s Tariff List? US Gas

In punching back against U.S. tariffs, China included almost all energy-related commodities on a list of its retaliatory actions. The exception: liquefied natural gas. That’s not surprising, according to a report Monday by Wood Mackenzie Ltd., a U.K.-based research firm. After an aggressive coal-to-gas switching policy was put in place by China’s government last year […]

Kunstler: What It’s All About Coercion

It’s worth checking out the YouTube video of this year’s semi-annual Munk Debate held in Toronto this spring. The proposition at hand: Be it resolved, what you call political correctness, I call progress…. For the pro position: Michael Eric Dyson, sociology prof from Georgetown U, and New York Times columnist Michelle Goldberg; on the con […]

Russia, Saudi Arabia are getting increasingly chummy, and that has big implications for OPEC and oil prices

Saudi Arabia may have gotten blown out by Russia during its first match at the World Cup, but there seems to be no hard feelings between Crown Prince Mohammed bin Salman and Vladimir Putin. The two leaders met this past week as the Russian national soccer team clobbered Saudi Arabia 5-0 in Moscow. It appears […]

Trump, Iran spar over oil prices ahead of OPEC meeting

U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. FILE PHOTO: A man fixes a sign with OPEC’s logo next to its […]

Is the Empire on the Edge of the Seneca Cliff? Italian Prime Minister Conte Opens to Russia at the G7

It is rare that a province of the Empire tries to pursue an independent foreign policy but, at the last G7 meeting, the new Italian Prime Minister, Giuseppe Conte, did something like that. He stated that Russia should return to the G8 (now G7) and called for the lifting the economic sanctions against Russia. In […]

Cutting out the US dollar: Russia & China boost national currencies trade

Moscow and Beijing have agreed to raise the share of ruble-yuan trade settlements, in a joint agreement signed by Russian President Vladimir Putin and Chinese leader Xi Jinping on Friday. The document envisages “further strengthening of the Russian-Chinese cooperation in the financial sector, promoting increase of the share of national currencies in trade payments, investments […]

Europe is still addicted to Russian gas

Try as it might, Europe just can’t dump Russia. President Vladimir Putin was given a warm welcome in Vienna on Tuesday, the 50th anniversary of Austria becoming the first western country to import Soviet gas during the Cold War. It’s a rare visit: The European Union imposed sanctions on Russia over Moscow’s actions in Ukraine […]

Kunstler: The Summer of Discontent

The ill-feeling among leaders of the G-7 nations — essentially, the West plus Japan — was mirrored early this morning in the puking financial market futures, so odious, apparently, is the presence of America’s Golden Golem of Greatness at the Quebec meet-up of First World poobahs. It’s hard to blame them. The GGG refuses to […]

High-speed rail: Now it’s America’s turn

Andy Kunz, President and CEO of the US High Speed Rail Association (USHSR), shares the top 10 reasons for bringing high-speed rail to America. AMERICA stands at one of the most important crossroads in history. Climate change and peak oil are both coming into focus with the uncomfortable awareness that America is the world’s largest […]

India’s Oil Minister: Petrol, diesel will not be allowed to go out of reach of common man

Oil Minister Dharmendra Pradhan today vowed to not allow petrol and diesel prices go out of reach of the common man, saying the government is working on a holistic solution to price volatility without going back on reforms. Blaming geopolitics of oil, exchange rate fluctuations and local taxes for petrol and diesel prices touching a […]

Energy groups join together to condemn Trump’s plan to subsidize nuclear, coal plants

Today, President Trump asked the Department of Energy to take steps in preventing coal and nuclear plants from retiring. “Impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation’s energy mix and impacting the resilience of our power grid,” said White House press secretary Sarah Sanders. […]

This Is What an Oil Shock Looks Like

If it looks like a duck, swims like a duck, and quacks like a duck, it’s probably a duck. And right now, this duck is looking a lot like an oil shock: In Brazil, a strike by truckers protesting the price of fuel brought the economy to a halt over the past week, interrupting exports of soybeans, coffee and […]

US Sanctions On Iran: The Unraveling Of Pax Americana

Amid current news headlines about North Korea and related nuclear issues, it is important not to ignore the potential schism that could occur in the G7 world as a consequence of the practical fallout from Donald Trump’s decision on May 8 to exit the 2015 Iran nuclear deal. WHAT WILL HAPPEN TO EUROPEAN INVESTMENTS IN IRAN? One […]

India, a Key US Ally, Plans to Ignore Trump’s Iran Sanctions

President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers — and a strategic partner of the U.S. — plans on ignoring them. India, a long-time buyer of oil from both Iran and Venezuela, only complies with United Nations-mandated sanctions and not those imposed by one […]

Turkey, Russia ink pipeline agreement, end gas dispute

Ankara and Moscow reached a retroactive agreement for a 10.25 percent discount on the natural gas and a payment of $1 billion will be made to Turkey, while the two sides also came to an agreement to complete TurkStream’s second line to Europe by 2019 Turkey and Russia have reached a retroactive agreement for a […]

Putin’s Endgame in Syria Has Arrived

Syria increasingly seems to be moving toward de facto partition accompanied by ongoing low-level military conflict and a functional, but sluggish politics — a so-called frozen conflict. This may have been the goal all along for Russian President Vladimir Putin, who has initiated and managed such conflicts elsewhere, including in Georgia and Ukraine. Other significant […]

Surging gas prices could fuel backlash against Trump

President Donald Trump is hoping a wave of tax-cut-fueled economic euphoria will boost his approval ratings and his party’s political fortunes this fall. A sharp spike in gas prices could slam the brakes on all of that. As Americans head out for traditional Memorial Day weekend road trips, they’ll confront gas prices of nearly $3 […]

Here’s The Viral Interview Of Exiled Saudi Prince Calling For Regime Change In Riyadh

A videotaped interview of an exiled Saudi prince living in Europe who is calling for regime change in his home country went viral this week. Prince Khaled bin Farhan was exiled from Saudi Arabia and given given political asylum in Germany in 2013, where he’s not infrequently given interviews exposing the inner workings of the royal […]

Economic Growth Chokes On Massive Debt Increases

The U.S. and global economies are choking on a massive amount of debt.  While Wall Street and the Mainstream financial media continue to rationalize the skyrocketing debt as merely the cost of doing business, the disintegrating fundamentals point to an economic catastrophe in the making. Of course, a full-blown economic meltdown may not occur this […]

‘World War III’ worries me more than economic sanctions do, Russia’s VTB Bank chief says

Diplomatic tensions and the “aggressive policy” of the U.S. toward Moscow are of more concern than economic sanctions, the president and chairman of one of Russia’s largest lenders said Tuesday. “What concerns me more than any economic sanctions, that for the first time since the Cuban (missile) crisis — people, at least in Russia and […]

How To Deal With Venezuela Without Shocking Oil Markets

The Trump administration has, for now, opted against hitting Venezuela’s oil sector with the harshest possible sanctions despite disavowing the re-election of President Nicolas Maduro as a “sham.” The White House did issue new financial sanctions on Caracas and state oil producer Petroleos de Venezuela (PDVSA) this week, but pulled up short of a full-scale […]

This Federal Policy Enabled the Fracking Industry’s $280 Billion Loss

Most people probably aren’t familiar with the acronym ZIRP. It stands for zero interest rate policy and is the policy that unintentionally created the American fracking bubble — just one of its many consequences. And while most people may not know much (if anything) about ZIRP or the Federal Reserve (Fed), it is likely that […]

China ‘to scrap child limits altogether’ in effort to boost its ageing population

China is planning to abandon all policies restricting the number of children people can have, according to a report, in a move that would draw to a close one of the world’s longest, most ambitious and most controversial social experiments. The one-child policy was introduced in 1979 before it was relaxed to two children in […]

Jimmy Carter: America has abandoned its leadership

Former President Jimmy Carter gave the commencement address Saturday at Liberty University. He said the biggest challenge the world faces today is the human rights issue of the discrimination of women and girls. Carter also talked about the growing disparity in wealth, the threat of nuclear war, deepening racial divisions in the US, the loss […]

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