Finally, a ship loaded with U.S. crude leaves port

In December, Congress lifted a ban on the export of U.S. crude oil, and the first shipment of crude — fracked from the oilfields of South Texas — is sailing out of Corpus Christi. But for now, many analysts don’t expect a large amount of American crude to be exported. The Brent selling price overseas […]

The Saudi Iran Crisis Is Sending Oil Prices Higher

Markets wonder what’s next in the conflict. Oil prices rose Monday after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions, although gains were tempered by data showing some of Asia’s largest economies are struggling. Saudi Arabia, the world’s biggest oil exporter, cut diplomatic ties with […]

Trump: ‘Clinton Created ISIS with Obama’

Republican presidential frontrunner Donald Trump blasted the Obama administration on its relationship with Iran and its handling of the Islamic State group. He also said Hillary Clinton “created ISIS with Obama.”

Saudi execution will ‘topple Saudi regime’

The former prime minister of Iraq, Nuri al-Maliki, has said that the execution of the prominent Shi’ite cleric Sheikh Nimr al-Nimr by Saudi Arabia will be the downfall of the Gulf kingdom’s government. Mr al-Maliki, who was prime minister of Iraq between 2006 and 2014, said in a statement that his countrymen “strongly condemn these […]

Russia Discounts Gas For Ukraine

Russian Prime Minister Dmitry Medvedev approved a discount in the price of natural gas for Ukraine to bring Russian gas prices closer to prices in European markets. Russia will discount its previous gas price of $230 per 1,000 cubic meters (TCM) by $17.8, bringing it to $212.2 per TCM, an official Russian government notice said […]

What Are The Chances For Peace in 2016?

Each year more than one trillion dollars goes up in smoke. More accurately, it is stolen from the middle and working classes and shipped off to the one percent. I am talking about the massive yearly bill to maintain the US empire. Washington’s warmongers have sold the lie that the military budget has been gutted […]

The stunning scope of the world’s refugee crisis

One out of every 122 people alive today is someone who, at some point, was forced to leave his or her home. If you totaled up all these people, they would have a greater population than all of South Africa — nearly as many people who live in all of the United Kingdom. This is […]

Saudis Plan Unprecedented Subsidy Cuts to Counter Oil Plunge

Confronting a drop in oil prices and mounting regional turmoil, Saudi Arabia reduced energy subsidies and allocated the biggest part of government spending in next year’s budget to defense and security. Authorities announced increases to the prices of fuel, electricity and water as part of a plan to restructure subsidies within five years. The government […]

Iran moving away from ‘oil curse’

Iran is drifting away from an oil-centered economy greatly prone to spasmodic market volatility and turmoil, which has unfailingly stunted the country’s every bid for sustainable development. At their peak, oil revenues have caused an outbreak of virulent economic maladies, including stagflation and the Dutch disease – a situation when a sudden flush of petrodollars […]

Islamic State ‘gets tougher’ in face of air strikes

A new message purporting to come from the leader of Islamic State said air strikes by Russia and a U.S.-led coalition had failed to weaken the group. “Be confident that God will grant victory to those who worship him, and hear the good news that our state is doing well. The more intense the war […]

China officially ends one child policy

China today officially junked its controversial one child policy, allowing couples to have a second child amid deepening demographic crisis of shrinking workforce and ageing population in the world’s second largest economy. Chinese lawmakers passed a historic decision allowing all couples to have two children from January 1, ending its over three and half decades […]

Russia strikes ISIS oil tankers

Russia has released dramatic images of what officials claim to be a successful strikes targeting ISIS’s oil-smuggling tankers in northern Syria, without being more specific on their location. “We’ve attacked many terrorist bases, hits were identified on targets and much damage was caused to the terrorist infrastructure,” the Russian Defense Ministry said in a statement […]

The Crude Oil Export Ban–What, Me Worry About Peak Oil?

Congress ended the U.S. crude oil export ban last week. There is apparently no longer a strategic reason to conserve oil because shale production has made American great again. At least, that’s narrative that reality-averse politicians and their bases prefer. The 1975 Energy Policy and Conservation Act (EPCA) that banned crude oil export was the closest thing to an […]

Russia sends missiles to the Arctic as Vladimir Putin moves for oil and gas

The new Cold War? Russia sends troops and missiles to the Arctic as Putin stakes a claim for the region’s oil and gas reserves Russia, Norway, Denmark and Canada are fighting over the Arctic territory Putin is building six bases in the Arctic, and sending troops and missiles It’s estimated that billions of tonnes of […]

Israel approves natural gas exports to Egypt

Israel’s government has given the go ahead to begin exporting natural gas to Egypt, signalling a potential improvement in relations between two countries which have been at loggerheads over energy supplies. Israel will be able to sell 5 billion cubic meters (bcm) of gas to Egypt in the coming seven years from the Tamar site […]

When Protesters Strike Back: 2015

One of our favorite mashup artists “A Concerned Human” returns with their yearly mashup of riot porn “When Protesters Strike Back!” Previous editions: When Protesters Strike Back: Anti-Narita airport protests vimeo.com/132626542 When Protesters Strike Back: 2014 edition vimeo.com/130955157 When protesters strike back: 2013-14 Ukrainian protests vimeo.com/130845829 When Protesters Strike Back: 2013 edition vimeo.com/130845808 When Protesters […]

Towards a Peasant Socialism

As a student in the 1980s, I was educated by probably the last generation of academics who found it possible to identify wholeheartedly with Marxism. They were good people and clever thinkers, and I suppose I became a Marxist myself for a time under their influence. I never made a good revolutionary, but I believed […]

Hillary Clinton ‘Doesn’t Know’ If She’s Ever Taken Money From Big Oil

In a remarkable exchange at a town hall meeting in Iowa Wednesday, Hillary Clinton claimed that she is unaware of ever having received money from the fossil fuels industry. Clinton made the statement with full knowledge that all of the lobbyists who work for her now once worked for oil and gas companies, and that […]

OPEC Members In Jeopardy, How Long Can They Hold Out?

Where’s the floor? Is this the new normal? Answers have proven elusive and predictions unreliable as the oil market continues to lurch to and fro, though mostly down; oil is at an 11-year low. Looking forward, bears and bulls abound – panicky and glued to OPEC’s every, somewhat disjointed move. For its part, the oil-producing […]

Beyond War – A Tour of Rojava

From our friends at rojavaplan.com a look a Rojava inside the first libertarian commune in the middle east. “We’ve cobbled together a collection of footage to give a taste of Rojava. More than an idea, but actual practice. In Rojava we discover our dreams and what is possible.”

In Memorium – CT Rep. Terry Backer

Legislators Mourn Death of Rep. Terry Backer – the Soundkeeper The Peak Oil and Environmental community lost a powerful advocate yesterday. Connecticut State Rep. Terry Backer, an outspoken environmental and alternative energy advocate who served as the state’s Soundkeeper, died Tuesday after more than five years battling brain cancer. He was 61. One of the […]

US On Verge Of Lifting 40-Year Oil Export Ban

The United States appears on the brink of ending a four-decade ban on most exports of crude oil, which would end a years-long fight brought about by a boom in domestic shale output that contributed to a supply glut and depressed prices. The measure is part of a sprawling deal wrapped up by congressional leaders […]

Currency Collapse

Cash is a scarce commodity in Greece. In June, Greek banks declared a surprise limitation on how much could be withdrawn from an account. At present, the government still limits the cash withdrawals of its citizens. Of course, this is just the most recent development in a series of events that make up the cash […]

Fed Ends Zero-Rate Era

The Federal Reserve raised interest rates for the first time in almost a decade in a widely telegraphed move while signaling that the pace of subsequent increases will be “gradual” and in line with previous projections. The Federal Open Market Committee unanimously voted to set the new target range for the federal funds rate at […]

Albert Bates: Here Comes the Sun

“The COP agreed that the era of fossil energy is over. That is no longer in question. It will end by 2050, if not sooner. The question is how, and the Paris Agreement leaves that to fairy dust.“   At 7:27 pm Paris time (ECT), the President of the COP, French Foreign Minister Laurent Fabius, […]

Russia is bracing for $30 oil

Russia is planning for oil prices to drop to $30 per barrel in 2016. The country’s top finance official, Anton Siluanov, said the government must be prepared for prices to fall further in 2016 as the global glut grows and new supply — for example from Iran — enters the market. “Everything indicates that low […]

Saudi Arabia Creates Islamic Bloc to Fight Terror Groups

Projecting its ambition for regional leadership, Saudi Arabia said Tuesday it has lined up most of the Arab world, NATO member Turkey and several African and Asian countries behind a vaguely defined “Islamic military alliance” against terrorists. The move allows the kingdom, which follows a deeply conservative interpretation of Islam, to cast itself as a […]

A New Middle East Is in the Making

When, in June 2006, former US National Security adviser and, later on, Secretary of State, Condoleezza Rice, spelled out the George W. Bush administration new, magic doctrine for the Middle East, tons of ink was poured and millions of words said in a harsh attempt to speculate with what she really did mean by what […]

Kunstler: Fedpocalypse Now?

“Here’s another fine mess you’ve gotten me into….” — Oliver Hardy If ever such a thing was, the stage is set this Monday and Tuesday for a rush to the exits in financial markets as the world prepares for the US central bank to take one baby step out of the corner it’s in. Everybody […]

This is what happens when oil-rich nations can’t pay their bills

In the summer of 2014, the price of oil tanked, dropping from over $110 per barrel of Brent Crude to where it sits now near $48 per barrel. Cheap oil is good for the consumer, but it has caused more than a few headaches in oil producing states. Some countries, such as Norway, have used […]

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