Saudi foreign minister says ‘we will maintain our oil market share’

Saudi Arabia will maintain its oil market share and the idea that it would cut production, while other countries increase it is “not a realistic one,” Saudi Foreign Minister Adel al-Jubeir said on Saturday. “Our view is market forces determine the price of oil and we will maintain our market share and markets will recover,” […]

Is The BOJ Quietly Intervening In Oil And Commodities?

As we said last week, the significant highs and lows in markets over history have been marked by some form of intervention (whether it be public or private policy actions).  Of course, we’ve been predicting some form of intervention, and soon, to remove the systemic risk posed by persistently weak oil prices. It just so happens that key markets (oil, […]

Oil won’t be balanced until 2017

Dallas Federal Reserve President Robert Kaplan on Thursday called on the Fed to be patient when it comes to raising interest rates, citing the effect of tighter financial conditions on U.S. economic growth. Kaplan believes that there is high downside risk in the outlook for world economic growth and also said that global financial conditions […]

Oil and gas industry has pumped millions into Republican campaigns

Fossil fuel millionaires collectively pumped more than $100m into Republican presidential contenders’ efforts last year – in an unprecedented investment by the oil and gas industry in the party’s future. About one in three dollars donated to Republican hopefuls from mega-rich individuals came from people who owe their fortunes to fossil fuels – and who […]

Kunstler: Going Full Whig

Hillary’s dumb riposte to Trump’s dumb slogan — make America great again! — was “…America never stopped being great.” I guess she’s been traveling around the strip-mall wastelands of Carolina failing to notice the carnage that lays upon this land like a mortal scrofula. America has been committing suicide by bad choices for decades. We […]

OPEC boxes itself into a corner

Heavyweight oil producer group OPEC stepped into the ring with young upstart US shale back in November 2014 and delivered its best shot. Led by prizefighter Saudi Arabia, it decided not to cut output in hopes of arresting the slide in prices, but, in an attempt to floor the relatively high-cost producer, declared it would […]

Nigerian president tells Qatar’s ruler: Oil prices ‘totally unacceptable’

The OPEC cartel needs to take action to stabilize the oil market because crude prices have fallen to “totally unacceptable” levels, Nigerian President Muhammadu Buhari said on Sunday. Nigeria, Africa’s biggest oil producer which earns around 90 percent of its foreign exchange earnings from crude oil exports, has been hit hard by the erosion of […]

Putin Threatens Turkey With Nukes

Award-winning Iran-Contra journalist Robert Parry has been told by a source close to Vladimir Putin that Russia has threatened Turkey with the use of tactical nuclear weapons if it launches a joint invasion of Syria with Saudi Arabia. Writing for Consortium News, Parry warns that the risk of the United States and its allies escalating […]

Syria fighting largely halts

Fighting appeared to stop across most areas of western Syria on Saturday after a cessation of hostilities came into effect under a U.S.-Russian plan which warring sides in the five-year conflict have committed to. A monitoring group and the United Nations reported only isolated fire in western Syria after the cessation began at midnight on […]

Isis oil: deal with traders nets jihadis badly needed funds

For those willing to try their luck — and test their fate — there are new deals to be had in the Isis oilfields of eastern Syria. In recent weeks the jihadi group has offered traders a licence to buy up to 1,000 barrels of oil at a time at the lucrative al-Omar oilfield — […]

Depletion Policies for Oil-Exporting Developing Economies

In modelling the behaviour of oil-exporting countries it is usually assumed that the objective is to maximize the present value of oil revenues evaluated at a vector of market clearing prices. Given the various assumptions on the relevant parameters (initial reserves, demand etc) and the market structure, this exercise gives an extraction policy or, what […]

OPEC Losing Its Grip On Oil Markets

From their opposing positions on U.S. shale to whether freezing – or even cutting – oil production around the world is even possible, the Organization of Petroleum Exporting Countries (OPEC) and Saudi Arabia – its most significant member – appear to be reading from different playbooks. Abdalla Salem El-Badri, OPEC’s executive director, stopped short of […]

Moscow, New Delhi to trade in own currencies

India and Russia are developing a road map for mutual settlements in national currencies which could open prospects for both countries, India’s Ambassador to Russia Pankaj Saran told RIA Novosti on Wednesday. “Transition to mutual settlements in national currencies of the BRICS looks promising. Russian and Indian companies are interested in using national currencies in […]

Will We Ever Stop Using Fossil Fuels?

Not without a carbon tax, suggests a study by an MIT economist. In recent years, proponents of clean energy have taken heart in the falling prices of solar and wind power, hoping they will drive an energy revolution. But a new study co-authored by an MIT professor suggests otherwise: Technology-driven cost reductions in fossil fuels […]

We Are Headed Over A Waterfall Without A Barrel

Today’s Guest: ‘V’ The Guerrilla Economist Websites: Rogue Money http://roguemoney.net Twitter @theroguemoney https://twitter.com/theroguemoney Most of artwork that are included with these videos have been created by X22 Report and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that […]

The Evil Empire Has The World In An Economic “Death Grip”

In my archives there is a column or two that introduces the reader to John Perkins’ important book, Confessions of an Economic Hit Man. An EHM is an operative who sells the leadership of a developing country on an economic plan or massive development project. The Hit Man convinces a country’s government that borrowing large […]

The Very First Nuclear War In The Middle East

Saudi Arabia already has nukes, Iran probably does, and the Russians are one of the two great nuclear powers on the entire planet.  So if Saudi Arabia, Turkey and their Sunni allies do decide to conduct a full-blown ground invasion of Syria, could someone ultimately decide to use nuclear weapons when their backs get pushed […]

Kunstler: Between the Loathsome and the Unspeakable

How reassuring is it to Hillary, exactly, that she won what amounted to a straw poll totaling less than 11,000 votes among the various Nevada hotel employees unions? You could tell from her pained, artificial smile at the victory podium that there is something booby prize-ish about that narrow triumph. And what was with the […]

Saudi Arabia’s Misguided Oil Strategy

Saudi Arabia has been instrumental in the collapse of crude oil prices by refusing to cut production and prevailing on OPEC to follow suit. This has so far inflicted incalculable damage on the global economy   Saudi Arabia took a huge gamble by flooding the global oil market with crude oil with the intention of […]

Missing radioactive material found dumped in south Iraq

Radioactive material that went missing in Iraq has been found dumped near a petrol station in the southern town of Zubair, officials said on Sunday, ending speculation it could be acquired by Islamic State and used as a weapon. The officials told Reuters the material, stored in a protective case the size of a laptop […]

The US Dollar Just Became the Official Currency of ISIS

It was reported this week that the terrorist group, ISIS, recently mandated U.S. dollars be the legal tender in their occupied territories. From now on, the U.S. dollar will be the only form of currency ISIS accepts for tax payments, fines, and utility payments. This recent policy is vastly different from the gold and silver minted currency […]

The US Economy Has Not Recovered And Will Not Recover

The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital gains and to executives in the form of […]

Currency And The Collapse Of The Roman Empire

At its peak, the Roman Empire held up to 130 million people over a span of 1.5 million square miles. Rome had conquered much of the known world. The Empire built 50,000 miles of roads, as well as many aqueducts, amphitheatres, and other works that are still in use today. Our alphabet, calendar, languages, literature, […]

Start Preparing for the Collapse of the Saudi Kingdom

Saudi Arabia is no state at all. It’s an unstable business so corrupt to resemble a criminal organization and the U.S. should get ready for the day after. For half a century, the Kingdom of Saudi Arabia has been the linchpin of U.S. Mideast policy. A guaranteed supply of oil has bought a guaranteed supply […]

Exxon’s Never-Ending Big Dig

Here’s the story so far. We have the chief legal representatives of the eighth and 16th largest economies on Earth (California and New York) probing the biggest fossil fuel company on Earth (ExxonMobil), while both Democratic presidential candidates are demanding that the federal Department of Justice join the investigation of what may prove to be […]

Former EPA General Counsel Scott Fulton on the Future of the Clean Power Plan

The US Supreme Court last week issued a judicial stay of President Obama’s signature climate change policy, the Clean Power Plan (CPP). The decision halts further implementation of the proposed restrictions on carbon emissions from fossil-fuel fired electric generating units until completion of the expedited, 27 state-challenge pending before the DC Circuit Court. While opponents […]

Radioactive Material Stolen In Iraq Raises Security Fears

Iraq is searching for “highly dangerous” radioactive material stolen last year, according to an environment ministry document and seven security, environmental and provincial officials who fear it could be used as a weapon if acquired by Islamic State. The material, stored in a protective case the size of a laptop computer, went missing in November […]

Is Saudi Arabia About to Invade Syria?

Saudi Arabia is massing hundreds of thousands of troops while conducting its biggest ever wargames. Is this preparation for an invasion of Syria or just one huge bluff? Russia’s Prime Minister recently warned that such a move could spark a new world war. We talk to Syrian Girl to find out.

Kunstler: Repricing Reality

It ought to be a foregone conclusion that Mr. Obama’s replacement starting January 20, 2017 will preside over conditions of disorder in everyday life and economy never seen before. For the supposedly thinking class in America, the end of reality-optional politics will come as the surprise of their lives. Where has that hypothetical thinking class […]

Turkish Army Enters Syria After Second Day Of Shelling As Saudi Warplanes Arrive

Update: The following video depicts the aftermath of the shelling, which has reportedly claimed the lives of at least two civilians. (as RT reports, “a video released by the Syrian Kurdish news agency ANHA and obtained by Ruptly shows damaged buildings and people rushing to take care of the wounded in the village of Maryamayn near […]

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