Top Billionaires Meet In NYC To Discuss Population Control

Anything happening today that looks like these folks may be implementing their plans ?   It’s so nice of these wonderful people to be deciding the fate of billions of human beings while they stuff their vile faces. Instead of figuring out ways to help their less fortunate brothers and sisters, they plan ways to exterminate […]

Saudis Could Face An Open Revolt At Next OPEC Meeting

OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia’s role of guarantor of $100+/bbl oil.  Despite the intense financial and economic pain this decision has inflicted on […]

Iran Provides Sizable Amount of Info for Nuclear Probe

Iran has provided a “substantive volume” of information to the U.N. atomic agency on allegations that it worked on nuclear arms, the agency’s chief said Tuesday, but declined to characterize the value of the documents. Yukiya Amano said it would be premature to say how useful the information given by Iran last week would be […]

Saudi Arabia may need sharper fiscal adjustments

With another bout of extreme volatility witnessed in oil prices, countries in the Gulf Cooperation Council may continue to post budget deficits for a few more years, forcing them to raise more debt, until stability returns to oil market. “We expect all of the large rated GCC economies, except Kuwait, to post general government deficits […]

From Venezuela to Iraq to Russia, Oil Price Drops Raise Fears of Unrest

Oil, the lifeblood of many countries that produce and sell it, appears to be rapidly turning into an ever-cheaper economic curse. A year ago, the international price per barrel of oil was about $103. By Monday, the price was about $42, roughly 6 percent lower than on Friday. In oil-endowed Iraq, where an Islamic State […]

Kunstler: Worse Than Hitler

Even the formerly august New York Times grants that Donald J. Trump has ignited a voter firestorm of grievance against a dumb show election process that rewards a craven avoidance of real issues. Immigration is actually a stand-in for the paralysis, incompetence, overreach, and bloatedness of government generally in our time — but it is […]

Turkey’s Insurrection

This week we bring you nihilistic news from the climate front, plus an update on the revolt in Turkey following the suicide bombing of Rojava supporters. Plus a Turkish comrade gives us an in depth look at the political landscape in the region. For background, check out our report on the Rojava revolution. Keep this […]

Saudi Arabia Hit by Low Oil Prices, Faces Difficult Decisions

Douglas-Westwood, an energy business strategy, research and commercial due diligence services provider, commented in its latest edition of DW Monday that low global crude prices have hit Saudi Arabia hard. With a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets – $4 billion in July. The kingdom is highly reliant […]

Here’s How They Screw You Over At The Gas Pump

So much would be possible if it weren’t for the government. Government, remember, is not composed of experts in much of anything – except control and manipulation. Politicians and bureaucrats are not people who do things. They force others to do things. In the car world, you have the ridiculous spectacle of non-engineer mechanical imbeciles […]

U.S. Military Leaders Support Iran Deal

Scores of high-level American military leaders support the Iran deal.  For example, the following 35 military officials – from the Army, Navy, Air Force and Marine Corps – signed a letter urging support for the deal: General James “Hoss” Cartwright, U.S. Marine Corps General Joseph P. Hoar, U.S. Marine Corps General Merrill “Tony” McPeak, U.S. […]

Syria Diplomacy and Oil: Geopolitics May Change Oil Outlook Dramatically Again

As the U.S. Congress gears up to debate the merits of the nuclear deal signed between Iran and the P5+1 powers last July , the Obama Administration is working overtime to get Mideast diplomacy off the ground to prove that the politically controversial deal is paying the way for a better Middle East. The effort, […]

Venezuela’s food shortage keeps getting worse

As dawn breaks over the scorching Venezuelan city of Maracaibo, smugglers, young mothers, and a handful of kids stir outside a supermarket where they spent the night, hoping to be first in line for scarce rice, milk, or whatever may be available. Some of the people in line are half-asleep on flattened cardboard boxes; others […]

US Loosens Longtime Ban on Oil Exports

Energy companies eager to export American crude oil scored a victory Friday when Washington agreed to allow them to trade oil with Mexico, in a further erosion of the four-decade ban on selling U.S. crude overseas. The U.S. Commerce Department told members of Congress it intends to approve an application by the national oil company […]

Why an Oil Glut May Lead to a New World of Energy

The plunge of global oil prices began in June 2014, when benchmark Brent crude was selling at $114 per barrel. It hit bottom at $46 this January, a near-collapse widely viewed as a major but temporary calamity for the energy industry.  Such low prices were expected to force many high-cost operators, especially American shale oil producers, out […]

Russian Foreign Minister Curses Saudis, Calls Them Imbeciles

Russia’s Foreign Minister Sergei Lavrov prompted a wave of social media buzz this week after being filmed swearing under his breath during a press conference in Moscow with his Saudi counterpart. Russia’s Foreign Minister Sergei Lavrov prompted a wave of social media buzz this week after being filmed swearing under his breath during a press […]

Switzerland lifts sanctions against Iran

Neutral Switzerland will officially lift on Thursday sanctions against Iran that had been suspended since January 2014, the government announced on Wednesday, citing a deal last month between Tehran and six big powers to curb Iran’s nuclear program. “The Federal Council (government) wishes today’s steps to be seen as a sign of its support for […]

India, Russia And Thailand Prepare For Currency War

When China sneezes, the world catches a cold. Alternatively, when China devalues, the rest of the (exporting) world scrambles to not be the last (exporting) nation standing, and to do so next, before everyone else does. Case in point, at least three major emerging market nations announced they are bracing for currency war. First India, […]

China devaluation heralds currency war

China’s surprise 2 percent devaluation of the yuan on Tuesday pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis. Stocks fell in Asia and Europe as investors worried about the implications of the move to support China’s […]

Scotland to ban genetically modified crops

Scottish ministers are planning to formally ban genetically modified crops from being grown in Scotland, widening a policy divide with the Conservative government in London. Ministers in Edinburgh are to apply to use recent EU powers that allow devolved administrations to opt out of a more relaxed regime, which is expected to increase commercial use […]

The Devastation in Global Commodity Currencies Is Far From Over

A bounce in crude oil and other commodity prices Tuesday halted a plunge in currencies of countries linked to natural-resource exports. The respite will be short-lived, according to OppenheimerFunds Inc. The Canadian, Australian and New Zealand dollars are off to the worst start to a year since the financial crisis. The nations are grappling with […]

With Iran’s Help, India Eludes China in Race for Gas Riches

Anyone looking for the biggest immediate impact from Iran’s nuclear deal may want to turn away from the Middle East and toward the Indian subcontinent. With U.S. sanctions easing, India is racing to build a port in Iran that will get around the fact that its land access to energy-rich former Soviet republics in Central […]

Venezuela farmers ordered to turn over their food to the government

As Venezuela’s economy continues to worsen — its currency having entered “free fall mode,” according to the Financial Times — the desperate Maduro government has taken the extreme measure of nationalizing the nation’s food industry. Venezuelan farmers and food producers are now required to sell anywhere from 30 percent to 100 percent of their products […]

Saudi Arabia Might Just Have Blinked In the Oil War

Kenny Rogers is probably not well known in Saudi Arabia but if recent speculation about the kingdom resorting to the international debt market is correct then the words of The Gambler should be called, loudly, from every minaret in Riyadh. If you don’t know Kenny’s signature song it’s the one which includes the refrain: “You’ve […]

Pentagon announces deployments to Iraq, Afghanistan

The Pentagon announced the deployment of three more Army units to Iraq and Afghanistan Wednesday, as part of the upcoming rotation of forces scheduled for late summer and early fall. Approximately 1,250 soldiers from the 1st Brigade, 10th Mountain Division, stationed at Fort Drum, New York, will deploy to Iraq, where there are approximately 3,500 […]

Saudi Arabia plans to borrow $27bn

Saudi Arabia is returning to the bond market with a plan to raise $27bn by the end of the year, in the starkest sign yet of the strain lower oil prices are putting on the finances of the world’s largest oil exporter. Bankers say the kingdom’s central bank has been sounding out demand for an […]

Syria’s Oil Industry Largely Destroyed

Syria’s oil industry, like most of its industries, is in a state of collapse.  And even recent gains, according to analysts, won’t come close to bringing it back. “We have great necessity to have oil production to make the economic wheel go forward,” said Afif Dalla, a political analyst in Damascus, but “I think in […]

Kunstler: Where Candidates Fear to Tread

That the snarkier circles of political commentary thrill to the elephantine bellowings of Donald J. Trump only shows the pathetic limitations of the snarkists. They enjoy Trump’s filterless mouth, his harsh goadings of the other presidential wannabes, and his supposed telepathic empathy for the suffering public outside the magic kingdom of DC. Trump has one […]

Obama to Order Steeper Cuts for Power Plants

President Barack Obama will impose even steeper cuts on greenhouse gas emissions from U.S. power plants than previously expected, senior administration officials said Sunday, in what the president called the most significant step the U.S. has ever taken to fight global warming. A year after proposing unprecedented carbon dioxide limits, Obama was poised to finalize […]

Russia-Iran-Iraq: The Emerging Natural Gas Mini-OPEC

Iran’s natural gas stands in the mind of many as a question mark in the post-sanctions global ties with Tehran. President Obama said in mid-July that Moscow was very helpful in getting the negotiations with Iran to a fruitful conclusion. “I was not sure given the strong differences we are having with Russia right now […]

Venezuela food crisis sparks looting

A man has been shot dead as Venezuelans stormed a supermarket warehouse in the grip of food shortages.

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