Peak oil, Peak gold, Peak everything – coming disaster for everyone

The global financial and political scene is now undergoing a transition that goes largely unnoticed and escapes general comprehension. Many facts and indicators provide mounting evidence that the status of the US dollar as international reserve currency is being seriously threatened by the BRICS economic block and that alternative arrangements for international trade and commerce, […]

“Bomb Iran” plan simply won’t go away

Even before the upcoming August recess on Capitol Hill, the dogs of war, unleashed by remote control from Tel Aviv, predictably are trying to tear the Iran-P5+1 nuclear deal to shreds from all sides. It does not matter that the National Iranian American Council – which happens to be widely respected in Washington itself – has […]

The New Politics of Oil Abundance

The oil-price shocks of the 1970s and ’80s marked the dawn of the modern era of United States energy policy. Presidents Nixon, Ford, and Carter all responded to those shocks by launching big programs that promised a rapid switch from oil to other energy sources. Every president since has pledged to chart a similar transition, […]

Some U.S. senators want to start oil war with Iran

As Secretary of State John Kerry tried to sell the Iran nuclear deal to Congress Tuesday, some U.S. senators were ready to start an oil war with Iran. Republican Senator Lisa Murkowski is sponsoring a bill to lift the ban on exporting American crude oil. Send U.S. oil abroad, she argues, so America can “compete […]

Kunstler: Potemkin Party

H ow many of you brooding on the dreadful prospect of Hillary have chanced to survey what remains of Democratic Party (cough cough) leadership in the background of Her Royal Inevitableness? Nothing is the answer. Zip. Nobody. A vacuum. There is no Democratic Party anymore. There are no figures of gravitas anywhere to be found, […]

Explosion shuts down Turkey-Iran natural gas pipeline

Saboteurs attacked a pipeline carrying natural gas from Iran to Turkey in Turkey’s eastern province of Agri late on Monday, halting the flow, Turkish Energy Minister Taner Yildiz and state gas company Botas said. There was no immediate claim of responsibility, but the attack bore the hallmark of the Kurdistan Workers Party (PKK), whose camps […]

Orlov: It’s really very simple

There are times when a loud cry of “The emperor has no clothes!” can be most copacetic. And so, let me point out something quite simple, yet very important. The old world order, to which we became accustomed over the course of the 1990s and the 2000s, its crises and its problems detailed in numerous […]

Modern-Day Geopolitics: Bloc-ing The World

The new millennium has witnessed many developments in geopolitics – from the introduction of a unified currency (euro) in the Eurozone to the formation of the New Development Bank (NDB) by the BRICS nations (Brazil, Russia, India, China and South Africa). Things have been in a churn, with a once bipolar world turning uni-polar and […]

Iran Ready to Export Natural Gas to India

Director General of National Iranian Gas Export Company Alireza Kameli said the country is ready to sign an agreement with a major Indian company for the export of Iran’s natural gas to the Subcontinent. After India left the IP Gas Pipeline project, a consortium of some Indian companies headed by South Asia Gas Enterprise Pvt. […]

Getting hit by “currency war”

The latest bank rate cut underscores government’s worried view of our economy. Driving down the loonie should help Ontario, Quebec and manufacturers in general. Those owning American stocks and real estate also win. Losers are consumers, cross-border shoppers and snowbirds. The cost of imported goods from the U.S., is rising — vegetables, fruit, automobiles, etc. […]

Congress Plans Sales From Strategic Petroleum Reserve

Lawmakers are eyeing the Strategic Petroleum Reserve as a piggy bank, but not without controversy. The Senate is considering legislation that would partly replenish the U.S. highway trust fund with $9 billion worth of sales from the reserve, which at 695.1 million barrels of oil is close to its 713.5-million-barrel capacity. This month, the House […]

ISIS Makes Three Times as Much from Oil Smuggling as Previously Thought

Two U.S. counter-terrorism officials tell NBC News that intelligence gathered from a U.S. raid in Syria details ISIS finances, revealing millions of dollars in oil wealth. “The more time on target, the better the estimate,” a senior U.S. official told NBC News. U.S. intelligence agencies have spent a lot of “time on target” since the […]

Russia, China Delay “Holy Grail” Gas Pipeline Sequel As China’s Economy Swoons

Last month in “PetroYuan Proliferation: Russia, China To Settle ‘Holy Grail’ Pipeline Sales In Renminbi,” we outlined how Moscow was set to deliver some 68 bcm/y in natural gas to China via the Power of Siberia line and the “Western Route”, or the “Altai” line. Here’s a quick recap: In May, Chinese President Xi Jinping […]

Saudi Arabia Having to Borrow Billions – Could Be Bankrupt by End of the Decade

Over the past year, Saudi Arabia – once among the richest nations on the planet – has wound up having to sell some $4 billion in bonds. It has been necessary in order to maintain levels of spending on public works and continue financing the war against Yemen. The Saudi government has also had to […]

Local Currency — Money for Us, Not the Bankers

“Back in the 1930s on the Olympic peninsula, people were paying their taxes in alternative money…The banks shut them down. This is an example of the monopoly the banks have, and the level of control they have over peoples’ economic lives… People need to know [local currency] is a possibility, an option, a realistic tactical […]

China may bring in ‘two-child policy’

Thirty-five years after enacting draconian birth control rules blamed for millions of forced abortions and the creation of a demographic “timebomb”, China could be on the verge of introducing a two-child policy. The new regulation, under which all Chinese couples would be allowed to have two children, could be implemented “as soon as the end […]

US Says Shell Is Not Yet Allowed To Drill In Arctic

The U.S. Interior Department on Wednesday granted Royal Dutch Shell two final permits to explore for crude in the Arctic this summer, but said the company cannot drill into the oil zone until required emergency equipment arrives in the region. The department’s Bureau of Safety and Environmental Enforcement (BSEE) conditionally granted Shell permits for exploration […]

Orlov: So you say you don’t want a revolution?

Over the past few months we have been forced to bear witness to a humiliating farce unfolding in Europe. Greece, which was first accepted into the European Monetary Union under false pretenses, then saddled with excessive levels of debt, then crippled through the imposition of austerity, finally did something: the Greeks elected a government that […]

Is Democracy Hitting the Fossil Fuels too Hard?

Over the past few weeks the notion of democracy has been getting its fair share of attention in the media, and quite rightfully so; Greece had a referendum on whether or not it was going to accept new terms for another round of bailout funds in exchange for the prolongment of austerity measures and the […]

The BRICS countries just launched a rival to the IMF and World Bank

Shanghai (AFP) – A new bank dedicated to the emerging BRICS countries opened for business in China’s commercial hub of Shanghai on Tuesday, the official Xinhua news agency reported. The so-called emerging BRICS countries are made up of Brazil, Russia, India, China and South Africa, and their “New Development Bank” has been seen as a challenge […]

Lies, Damned Lies, & Inflation Statistics

The government released their monthly CPI report this week. Even though it came in at an annualized rate of 3.6%, they and their mouthpieces in the corporate mainstream media dutifully downplayed the uptrend. They can’t let the plebs know the truth. That might upend their economic recovery storyline and put a crimp into their artificial […]

Iran Nuclear deal could herald major change

An unlikely group in the Middle East has found common ground in recent days: Saudi Arabia, Israel and hardliners within Iran have all made clear they consider the landmark nuclear deal between Tehran and world powers a very bad idea. All of these players feel a direct threat to their power and influence as a […]

It All Falls Apart

  Happy families are all alike; every unhappy family is unhappy in its own way. — Leo Tolstoy, ‘Anna Karenina’ It is hard to keep up with events. The current, non-Varoufakis Greek government has surrendered to German austerity demands. How this turns out is anyone’s guess … except for the big picture. At the beginning […]

Greece looks to offshore oil and gas

Greece is in an economic depression. Whether or not it agrees to the ruinous terms imposed upon it by its creditors in order to obtain a bailout, or if Greece opts for a much more uncertain route out of the Eurozone, Greece has years of hardship ahead of it. The government is turning to offshore […]

ISIS Lost Almost 10 Percent of Territory

The Islamic State group (ISIS) saw its territory in Iraq and Syria shrink almost 10 percent in the first six months of the year, as recent victories in Palmyra and Ramadi were outweighed by “significant” losses elsewhere, a report said. The area in which Islamic State is the dominant military force now spans about 82,940 […]

Hillary Clinton: ‘I Support the Agreement’ With Iran

Hillary Clinton said in a statement Monday night that she supports the Iranian nuclear deal, but cautioned that she is still looking into the specifics. “I am still studying the details, but based on the briefings I received and a review of the documents, I support the agreement because it can help us prevent Iran […]

The Secret Bank Bailout

50 billion euros in Greece, 70 billion euros in Ireland, 40 billion euros in Spain – one Euro-country after another is forced to support its banks with huge sums of money in order to equalize the losses incurred by money worldwide from bad loans. But where do the billions go anyway? Who are the beneficiaries? […]

Iran nuclear deal impact on oil markets

Iran’s oil and financial sanctions will be lifted with a phased deal struck on its nuclear program on July 14, but the market won’t immediately see more crude. The country is currently exporting around 1 million b/d of crude, less than half the 2.2 million-2.3 million b/d exported before the European Union and US imposed crippling […]

World Powers Reach Landmark Nuclear Deal With Iran

It is only fitting that almost exactly 24 hours after the Greek “pre-deal”, which may and will end up crashing and burning in very short notice, another long expected “deal”, one which has been about a decade in the making, was reached, when Iran reached a landmark nuclear agreement with the U.S. and five other […]

Greece Today, America Tomorrow?

The drama over Greece’s financial crisis continues to dominate the headlines. As this column is being written, a deal may have been reached providing Greece with yet another bailout if the Greek government adopts new “austerity” measures. The deal will allow all sides to brag about how they came together to save the Greek economy […]

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