Chaos in Libya: It’s the oil, stupid

There is seems no end to the bad news coming out of Libya. UN-led negotiations to unite the divided country — it has two parliaments, two governments, two militia coalitions that have been competing for control of a rapidly failing state since summer 2014 — are stalling. Fighting continues apace in Benghazi, the city that […]

Saudis to set strategy for era of cheap oil

Saudi Arabia’s government is expected to announce spending cuts and a drive to raise revenue from new sources as it lays out a strategy to cope with an era of cheap oil, people familiar with Saudi policy-making said. Markets in the world’s top oil exporter are jittery because low crude prices have pushed state finances […]

More than money at risk for Saudis

Saudi Arabia’s rulers have long maintained stability with the help of welfare spending and subsidies. But as the oil dependent country’s crude revenues sink, the world is watching for political troubles. Social unrest in Saudi Arabia is unlikely to ratchet up significantly in the next few years, analysts tell CNBC. But if crude prices remain […]

This is how you shut down a pipeline

Today people in so called “Quebec” shut down the valve of Enbridge’s controversial Line 9B pipeline, essentially cutting the flow of tar sands oil to eastern “Canada” Download MP4 (50mb) • Torrent Using tor? Try our archive.org page

Will Climate Change Break the Global Food System?

Extreme weather events scuttling harvests. Skyrocketing food prices causing famine for millions and driving multitudes into poverty. Governments toppling – again – in Pakistan and Ukraine. Massive floods driving millions of refugees from their homes in Bangladesh and putting pressure on neighboring India. Droughts devastating harvests in traditional bread baskets like the U.S. and Brazil. […]

Paris climate change talks yield first draft

Negotiators paving the way for a global climate change agreement in Paris have cleared a major hurdle, producing a draft accord in record time and raising hopes that a full week of minister-led talks can now clinch a deal despite many sticking points. No part of the deal has been finalised because in the end […]

Why Is The U.S. Reluctant To Bomb ISIS Oil Fields?

There has been some revealing new information coming out recently regarding the strategy against ISIS. One aspect many find troubling is the apparent failure of U.S. and coalition forces to sufficiently target and destroy oil infrastructure located in ISIS territory, which accounts for a significant portion of the terror group’s annual income. The argument goes, […]

Charges Dropped for BP Supervisors in Oil Spill

The Gulf of Mexico rig explosion that killed 11 workers and unleashed the nation’s worst offshore oil spill also led to criminal charges against four BP employees, who faced prison time if convicted. But the Justice Department’s decision to drop manslaughter charges against two BP rig supervisors makes it increasingly likely that nobody will spend […]

War planes hit oil region in Syria

War planes from a U.S-led coalition carried out overnight strikes on oil-producing areas in an Islamic State-held part of eastern Syria, a group monitoring the war said on Thursday, after Britain said it had started raids for the first time. The Syrian Observatory for Human Rights did not identify the war planes as British but […]

Yes, Turkey IS Buying Oil from ISIS

In response to Russia’s accusation that Turkey is buying oil from ISIS, the Turkish president said that – if that is proven to be true – he’ll resign. It turns out that Turkey is buying oil from ISIS. The Guardian reported this summer: US special forces raided the compound of an Islamic State leader in […]

Russia has ‘more proof’ ISIS oil routed through Turkey, Erdogan says he’ll resign if it’s true

Russia has received additional intelligence confirming that oil from deposits controlled by Islamic State is moved through Turkey on an industrial scale, said Vladimir Putin. President Recep Erdogan said he will resign if this is confirmed. Moscow has grounds to suspect that the Su-24 was downed by Turkish jets on November 24 to secure illegal […]

ISIS: Oil as a Strategic Weapon

  I have to admit that I am a news junkie. So my TV was glued to CNN on the day of the Paris terrorist attack. During its coverage, one of the CNN commentators mentioned that ISIS makes about $2 million a day in oil revenue. That piqued my curiosity and decided to find out […]

Oil Plunge Raises Fears of Societal Unrest

With Wall Street shops like Goldman Sachs (GS) and government officials in Venezuela signaling oil could go to the mid-$20 per barrel range next year, analysts at places like RBC Capital Markets have been warning that chronically low oil prices plunging towards seven-year lows means increasing social chaos in countries on the edge—including those battling […]

IMF gives China’s currency reserve status

The International Monetary Fund on Monday, as expected, admitted China’s yuan into its benchmark currency basket in a victory for Beijing’s campaign for recognition as a global economic power. The IMF executive board’s decision to add the yuan, also known as the renminbi, to the Special Drawing Rights (SDR) basket alongside the dollar, euro, pound […]

Dozens Killed in Air Strike on Marketplace

Opposition activists in Syria claim a Russian air strike on a crowded marketplace in Idlib province has killed over 40 people. The Syrian Observatory for Human Rights claimed dozens were also wounded in the attack. Images on social media purported to show the aftermath of the alleged attack in the town of Ariha in Idlib […]

The “Arrogance, Hubris, & Stupidity” Of The US Government

On the heels of the Chinese stock market plunging 5.5%, continued turmoil in the Middle East and the price of gold hitting 5 year lows, former U.S. Treasury official, Dr. Paul Craig Roberts told Eric King of King World News that Putin and the Russians are now dominating in Syria and the Middle East as […]

Who is buying ISIL’s oil?

Turkey has been forced to deny Russian allegations that it buys oil from the armed group and says Assad is a customer. On the face of it, it looks like any state-run oil industry. Engineers, managers and traders all help extract, refine and distribute oil, which makes its way across Syria and Iraq, as well […]

Alex Jones: WWIII

Due to the frightening developments of the last few days Alex sounds his third Emergency Alert as the world marches dangerously close to the eruption of WWIII. From the elite scrambling away to armored redoubts, to the sabre rattling of Ergodan the unhinged Turkish P.M. we are hurtling towards the precipice of full scale war.

Iran unveils upgraded model for oil contracts

Iran unveiled a new model of oil contracts Saturday aimed at attracting foreign investment once sanctions are lifted under a landmark nuclear deal reached earlier this year and said U.S. companies would be welcome to participate. The new Iran Petroleum Contract replaces a previous buyback model, in which contractors paid up-front investment costs in return […]

How Turkey Exports ISIS Oil To The World: The Scientific Evidence

Over the course of the last four or so weeks, the media has paid quite a bit of attention to Islamic State’s lucrative trade in “stolen” crude. On November 16, in a highly publicized effort, US warplanes destroyed 116 ISIS oil trucks in Syria. 45 minutes prior, leaflets were dropped advising drivers (who Washington is […]

Home, Sweet Kleptocracy

A top government official with energy industry holdings huddles in secret with oil company executives to work out the details of a potentially lucrative “national energy policy.” Later, that same official steers billions of government dollars to his former oil-field services company. Well-paid elected representatives act with impunity, routinely trading government contracts and other favors […]

Shrinking the Strategic Petroleum Reserve

Selling oil from the Strategic Petroleum Reserve as part of the Congressional budget compromise raises serious questions about the SPR’s future role. Shrinking the SPR without first bringing its coverage into line with 21st century needs risks strengthening OPEC’s hand.  Last month’s Congressional budget compromise included plans to sell 58 million barrels of oil from the US Strategic […]

Kunstler: Boundary Problems

It’s no accident that Donald Trump’s vaunted wall along the US-Mexico border became such a potent metaphor for a floundering American polity. The US has boundary problems — and not just with illegal immigrants (whoops, undocumented visitors). A mighty flux of standards and principles is symptomatic of an economy in freefall. Nothing is settled. All […]

Is Saudi Global Oil Dominance Ending?

Saudi Arabia’s world oil leadership position is under duress.  Although this huge Arabian Desert peninsula had been sparsely, tribally populated, when the Ottoman Empire was crumbling by the end of World War I, a combination of positive factors vaulted Saudi Arabia (named after its founder Ibn Saud) into a world oil power leadership position: 1) […]

The “Syrian Sickness”: What Crude Oil Gives, Crude Oil Can Take Back.

  Syria is one of the greatest disasters of recent times. Here, I argue that the origins of the Syrian collapse are to be found in the economic downturn generated by the gradual depletion of the Syrian oil reserves. Crude oil had created modern Syria, crude oil has destroyed it. This phenomenon can be termed […]

Blowback Paris: Exxonomics 102

“‘If Zarqawi and bin Laden gain control of Iraq, they would create a new training ground for future terrorist attacks, they’d seize oil fields to fund their ambitions.’ – George W. Bush, 2006″   This past week a number of our respected readers took us to task for our post, Exxonomics 101, not because we […]

The Oil War Against ISIS: Why Bombs Won’t Cut Off The Flow

Needless to say, the world’s attention is now concentrated on the activities of ISIS and the prescriptions for defeating (as opposed to containing) them. Their finances are a major part of this. The Western powers have had some success curtailing hostile groups by attacking their financial flows, restricting movements of cash from ideological supporters and/or […]

Obama, Putin Agree on One Thing: Bombing Islamic State’s Oil

When Vladimir Putin met with Barack Obama in Turkey on Sunday to discuss the terrorist attacks in Paris, he brought along some photos. The satellite images showed rows of trucks laden with Islamic State oil stretching into the Syrian horizon, a person familiar with matter said. Putin’s point was that U.S. bombing alone can’t eliminate […]

Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.  The result is a […]

How Technology Energy Innovation Helps Achieve Sustainable Development

Laura Diaz Anadon, Assistant Professor in Public Policy at the John F. Kennedy School of Government at Harvard University, and Visiting Senior Lecturer in Science, Technology, Innovation and Public Policy at the Department of Science, Technology, Engineering and Public Policy at University College London, will present a public lecture on November 24 at the Graduate Institute in Geneva, […]

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