California Adopts “Unprecedented” Restrictions On Water Use As Drought Worsens

Early last month we warned that California’s drought was approaching historic proportions and that if climatologists were to be believed, the country may see a repeat of The Dirty Thirties as experts cite “Dust Bowl” conditions. Governor Jerry Brown has called for statewide water restrictions aimed at reducing consumption by 25%. Now, the conservation calls […]

World heading to grave food crisis

Natural disasters in food exporting countries, mainly in Asia and Africa, have aggravated the situation Essa Al Ghurair speaking at the conference. -Supplied photo Ras Al Khaimah – The world is heading towards a serious global food crisis particularly as the food exporting countries, mainly in Asia and Africa, have been hit with massive natural […]

King Salman consolidates family grip on Saudi power and Aramco

King Salman’s double shake-up of Saudi Arabia’s power structure and the kingdom’s key petroleum sector could have major implications for oil supply. Since his January 23 accession to the Saudi throne, Salman has moved quickly to influence how power will be transferred to the next generation of rulers. Three months later he took the unprecedented […]

Those with money will continue to make the rules

THE tectonic shifts in the distribution of global economic activity and the consequential reallocation of geo-political power require either technical, managerial and political change in traditional development banks, starting with the World Bank, or the emergence of new development banks. If these changes are not forthcoming, the traditional development banks will be marginalised and their […]

Iraq army hunts ISIL fighters after Tikrit breakthrough

Iraqi forces battled the last Islamic State of Iraq and the Levant (ISIL) fighters in Tikrit to seal a victory the government described as a milestone in efforts to rid the country of armed group. Iraqi fighters picked their way through the rubble-strewn streets of the city on Wednesday, wary of any last-ditch attack from […]

Saudi Arabia Tapping Wealth Fund to Maintain Low Oil Prices

  The low prices for crude are costing Saudi Arabia some serious cash. The Saudi central bank reported last week that its net foreign assets fell 4.7% year-over-year in March to about $691 billion, their lowest level since July 2013. The Saudis nicked their savings account to the tune of $36 billion in the last […]

There Is No Solution To The Crisis

A long ,long time ago… it was the 16 September 1992, Black Wednesday, when the British Government was forced to withdraw the pound sterling from the European Exchange Rate Mechanism(ERM) after it was unable to keep the pound above its agreed lower limit in the ERM.  A certain Mr.Soros, made over £1 billion profit by […]

Canada is North America’s Great Oil Security Blanket

    The Keystone XL pipeline debate that unfortunately continues to drag on has pushed Canada’s oil production potential into the spotlight. Canada is our neighbor and leading trade partner, with U.S. goods and private services trade with Canada totaling around $750 billion a year, interestingly equal parts imports and exports. More oil connections are […]

Russia signs up to $100 bn BRICS fund to rival IMF

Russian President Vladimir Putin ratified an accord Saturday to set up a $100-billion reserve fund for the so-called BRICS — the five leading emerging economies that include Russia, China, Brazil, India and South Africa. Moscow is expected to contribute $18 billion to the reserve, well behind the $41 billion China has promised to pour into […]

U.S. Navy accompanies 4 ships through Strait of Hormuz

The U.S. Navy accompanied four American-flagged ships and a British vessel moving through the Strait of Hormuz at the mouth of the Persian Gulf on Thursday, and officials said the U.S. will offer that aid to any other nation concerned about interference from Iranian vessels. U.S. Army Col. Steve Warren, a Pentagon spokesman, said the […]

Science, Not Politics, Should Drive Trade and Regulatory Decisions

The Obama administration issued a stinging rebuke of the European Union’s decision this week to allow countries in Europe to “opt-out” of U.S. imports of genetically modified (GM) foods and feed. The U.S. Trade Representative said that such a rule “ignore[s] science-based safety and environmental determinations” that modifying crops in laboratories is no more harmful […]

Saudi Arabia to restructure Aramco, separate it from oil ministry

Saudi Arabia’s Supreme Economic Council has approved a restructuring of state oil company Saudi Aramco [SDABO.UL] that includes separating it from the oil ministry, Al Arabiya television channel reported on Friday, citing sources. There are no indications that the move will lead to changes in the fundamental way the world’s top crude exporter makes its […]

Meet the man who could be the next ruler of oil market

There’s no one individual who has the power to shake the world oil markets quite like Ali al-Naimi, Saudi Arabia’s octogenarian oil minister. So the replacement of al-Naimi as chairman of state-owned Aramco with its former CEO Khalid al-Falih is being read as a signal by oil traders that he could now be the front […]

What the Saudi royal reshuffle means for oil

Uncertainty hit oil markets on Wednesday, with analysts contemplating what a major reshuffle of Saudi Arabia’s ruling elite might meant for the commodity. On Wednesday, it was announced that Saudi Arabia’s King Salman bin Abdulaziz had appointed a new heir and rotated some of the top ministerial jobs, accelerating the personnel changes set in motion […]

Iran Seizes Cargo Ship; Pentagon Sends Destroyer

The ship manager for the container vessel boarded by Iranian forces declined to comment on the status of the vessel on Tuesday. The Pentagon said earlier that the Marshall Islands-flagged Maersk Tigris was boarded by Iranian forces in the Gulf. The Maersk Tigris is managed by Singapore-based Rickmers Ship Management, which is part of Hamburg-based […]

Will Iran Attempt To Seize Control Of Saudi Oilfields?

  IN 1976 an investment banker turned adventure novelist, Paul Erdman, penned a best-selling thriller, The Crash of ’79. Center to the plot was the Shah of Iran making a grab for the oilfields of the Arab Middle East, with a well-armed military, thanks to rising oil prices. Of course, barely 24 months later the […]

Fighting escalates across Yemen, first air strikes on capital Sanaa

Air raids, naval shelling and ground fighting shook Yemen on Sunday in some of the most widespread combat since a Saudi-led alliance intervened last month against Iranian-allied Houthi militia who have seized large tracts of the country. There were at least five air strikes on military positions and an area near the presidential palace compound […]

OPEC to take a backseat in 2016 elections

<p>How OPEC works</p> <p>A quick, entertaining explainer on how the cartel affects — or tries to affect — the price of oil.</p> As candidates for the 2016 U.S. general election gear up for a White House run, one villain of recent campaign cycles will be conspicuously absent: the cartel known as OPEC. With the U.S. […]

Ghana told to stop oil drilling

Ghana has been told by an international tribunal not to begin any new offshore drilling for oil in disputed waters with the Ivory Coast. The International Tribunal for the Law of the Sea did, however, allow Ghana to continue developing current oilfields. These include the so called-Ten fields, part owned by UK firm Tullow Oil. […]

What Will Happen To You When The Dollar Collapses?

Historically, when a nation’s debt exceeds its ability to repay even the interest, it can be assumed that the currency will collapse. Typically, governments exacerbate the situation by printing large amounts of currency notes in an effort to inflate the problem away, or at least postpone it. The greater the level of debt, the more […]

Yellowcake Blues

“Without Russian weapons uranium to downblend, and even with a continuing supply from Uranium One’s holdings in Wyoming, Khazakstan and Canada underwritten by the Clinton Foundation, the United States will be faced with a stark choice.“ In a post for Peak Prosperity on Friday, Chris Martenson observed: In the past ten years police in the […]

Orlov: The Limits of Propaganda

As Paul Craig Roberts has recently reported, the US government is in the process of launching an all-out war on truth. Those who express views contrary to the party line out of Washington will be labeled a threat. Eventually they may find themselves carted to one of the concentration camps which Halliberton (Dick Cheney’s old […]

Obama Urges Saudi Dictator Abdulaziz to Keep Attacking Yemen

Obama expressed his desire for Saudi dictator Abdulaziz to continue his illegal assault on Yemen, “pushing for a continuation of the war” and announcing, mafia-like, that “the job is not done”. The dictator has complied, carrying out further attacks on the impoverished and starved country, with a Saudi Prince announcing that he will reward the […]

Is the US A Force For Good In The World?

First of all, in terms of popularity worldwide, the U.S. is a mixed picture. A Gallup International poll of 65 countries, issued on 30 December 2013, found that: “The US was the overwhelming choice (24% of respondents) for the country that represents the greatest threat to peace in the world today. This was followed by Pakistan (8%), […]

How OPEC could lose the oil wars

The U.S. energy industry is clearly on its heels. Drillers are shutting down rigs, oil and gas firms are slashing jobs and plunging prices are gutting profitability, even at huge firms such as Exxon Mobil (XOM). But American drillers could ultimately benefit from the pressure to become more competitive. And OPEC, the oil cartel led […]

Saudi Prince Promises Bentleys to Pilots as Civilian Death Toll Mounts in Yemen

As Saudi officials announced the country has ceased its bombing campaign against the Houthis in Yemen, a Saudi prince promised to give pilots free expensive luxury cars. Prince Alwaleed Bin Talal is the Saudi King Abdullah’s nephew. He has a $300 million stake in the social media company Twitter and is reportedly worth nearly $40 […]

Who Is Saudi Arabia Really Targeting In Its Price War?

Saudi Arabia is not trying to crush U.S. shale plays. Its oil-price war is with the investment banks and the stupid money they directed to fund the plays. It is also with the zero-interest rate economic conditions that made this possible. Saudi Arabia intends to keep oil prices low for as long as possible. Its […]

Exxon CEO: Feds, Industry Must Work Together in New World of Energy

It’s a new world taking shape in the energy industry, Rex Tillerson, Exxon Mobil Corp. CEO, told a crowd during the second day of IHS CERAWeek in Houston. And while the full picture of this new paradigm has yet to take shape, it’s clear that the industry needs to come together with the public and […]

Saudis Halt to Yemen Operation Saying It Achieved Goals

The Saudi-led coalition intervening in Yemen’s civil war called a halt to its campaign of airstrikes, saying their goals were achieved and the focus will move to reviving talks on a political settlement. Operation Decisive Storm succeeded in eliminating threats to the kingdom and other countries in the region, by destroying heavy weapons and ballistic […]

Saudi Arabia’s Oil-Price War Is With Stupid Money

Saudi Arabia is not trying to crush U.S. shale plays. Its oil-price war is with the investment banks and the stupid money they directed to fund the plays. It is also with the zero-interest rate economic conditions that made this possible. Saudi Arabia intends to keep oil prices low for as long as possible. Its oil production increased to 10.3 […]

« Previous Page — Next Page »

LATEST NEWS HEADLINES

• Why the IEA is Wrong About Peak Oil Demand
• Did we inadvertently speed global warming?  
• Venezuela’s Oil Monopoly Eases
• Why Germany is Choosing Natural Gas Over Nuclear Power
• U.S. coal-fired electricity generation decreased in 2022 and 2023

• America Cracks Down on Methane Emissions from Oil and Gas Facilities
• Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
• Is It Time To Refill America’s Strategic Petroleum Reserve?
• Oil prices set to end year 10% lower as demand concerns snap winning streak
• What’s Driving America’s New Oil and Gas Boom?
• China’s peak oil demand bombshell eviscerates Danielle Smith’s energy strategy