Pivot to the East? Demystifying the Russia-China Natural Gas Deal

It had been more than a decade in the making, but on May 21, Russia and China finally agreed to a landmark 30-year, $400 billion natural gas deal that some say cements Russia’s latent “pivot to the East.” Signed during Russian President Vladimir Putin’s most recent trip to China, the agreement effectively gives Moscow and […]

BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks

As we suggested last night, the anti-dollar alliance among the BRICS has successfully created a so-called “mini-IMF” since the BRICS are clearly furious with the IMF as it stands currently: this is what the world’s developing nations just said on this topic “We remain disappointed and seriously concerned with the current non-implementation of the 2010 […]

Natural Gas Discoveries Fueling Gaza Crisis?

Yesterday [Tuesday July 8th], Israeli defence minister and former Israeli Defence Force (IDF) chief of staff Moshe Ya’alon announced that Operation Protective Edge marks the beginning of a protracted assault on Hamas. The operation “won’t end in just a few days,” he said, adding that “we are preparing to expand the operation by all means […]

Iraq’s Kurdish Fighters Seize Kirkuk, Bai Hassan Oil Fields

Iraq’s Oil Ministry said Friday Kurdish Peshmerga forces had seized control of production facilities at two key oil fields near the northern city of Kirkuk, in a move that could further worsen already frayed relations between the Kurdistan Regional Government and Baghdad. According to a statement published on the oil ministry’s website, Kurdish Peshmerga forces […]

Plunging toward Armageddon in Israel

The latest cycle of Israeli-Palestinian violence is pulling the region and the world deeper into a grotesque crime of religious-inspired slaughter, but U.S. politicians can’t see beyond their narrow self-interests, writes former U.S. diplomat William R. Polk. With the killing of three Israeli teen-agers and the apparent revenge murder of a Palestinian youth – possibly burned […]

ISIS Has Seized 88 Pounds Of Uranium In Northern Iraq

With the mainstream media having moved on in the news cycle to Dow ‘almost’ 17,000 and the ‘Border Crisis’ Scandal, it seems The Islamic State (the terrorists formerly known as ISIS) have stepped up their game and come out swinging… by seizing 88 pounds of nuclear material (uranium compounds) from Mosul University. As Iraq’s UN […]

Twenty-First-Century Energy Wars

Iraq, Syria, Nigeria, South Sudan, Ukraine, the East and South China Seas: wherever you look, the world is aflame with new or intensifying conflicts.  At first glance, these upheavals appear to be independent events, driven by their own unique and idiosyncratic circumstances.  But look more closely and they share several key characteristics — notably, a […]

What if it all becomes obvious enough?

What if Putin, being a strategic thinker that he is in addition to being a master in judo, has an intention to make not just eastern Ukraine but the whole Ukraine a failed-state-showcase of what happens when the US, Nato, EU, and the IMF causes havoc in eastern Europe. Maybe he is giving a lesson […]

Russia in secret plot against fracking, Nato chief says

The Daily Telegraph has one of those stories which makes me wonder who really believes this sort of stuff and why anyone would anyone ever bother saying it – Russia in secret plot against fracking, Nato chief says. Russia is secretly working with environmental groups campaigning against fracking in an attempt to maintain Europe’s dependence […]

Mortars land in Saudi Arabia near Iraq border

Three mortars bombs landed inside Saudi Arabia close to its border with Iraq on Monday, causing no casualties but raising concerns about instability in the kingdom’s northern neighbour, where Islamist militants have occupied land near the frontier. Saudi authorities said they are investigating the incident to determine the source of the mortars, which caused no […]

Iraq fighting doesn’t raise oil prices, yet

Iraq is one of the world’s top oil exporters, so you would think that a recent attack by militants on its largest oil refinery amid a deteriorating security situation in the country would prompt global fears of oil shortages and spark a spike in prices. Instead, ​prices are about where they were a year ago, […]

Power Struggles in Middle East Exploit Islam’s Ancient Sectarian Rift

Black and yellow concrete barricades block the roads entering this wealthy Sunni enclave, where foreign-born Sunni soldiers in armored personnel carriers guard the mansions of the ruling family and the business elite. Beyond the enclave are impoverished villages of Shiites, about 70 percent of Bahrain’s more than 650,000 citizens, where the police skirmish nightly with […]

China, Korea agree to direct trade in national currencies

China designated a clearing bank in Seoul for yuan transactions in South Korea on Friday, coinciding with a visit by President Xi Jinping, as Beijing promotes greater use of its currency overseas, AFP reports. China’s central bank has authorised the Bank of Communications, the country’s fifth largest lender, to undertake yuan clearing business in the […]

The lessons learned in the ashes of Lac-Megantic, one year on

When the buzz of bulldozers and construction workers quiets for the evening, there’s an uneasy calm in Lac-Mégantic, Quebec. The heart of town is still shut down as half burnt buildings stand eerily next to empty plots of land. One year later, the small Canadian town, 10 miles from the U.S. border, is fighting to […]

Saudi Arabia sends 30,000 troops to border with Iraq

Saudi Arabia deployed 30,000 soldiers to its border with Iraq after Iraqi soldiers abandoned the area, Saudi-owned al-Arabiya television said on Thursday, but Baghdad denied this and said the frontier remained under its full control. The world’s top oil exporter, Saudi Arabia shares an 800-km (500-mile) border with Iraq, where Islamic State insurgents and other […]

ISIS takes major Syrian oil field

The extremist Sunni militant group that recently declared a caliphate in parts of Syria and Iraq wrested control of a major Syrian oil field in a sweeping land grab Thursday, a UK-based monitoring group said. A string of villages and towns along the Euphrates River fell like dominoes to the Islamic State in Iraq and […]

Another Stupid US Energy Policy Decision

The recent ruling by the Commerce Department, allowing Pioneer Natural Resources (PXD) and Enterprise Product Partners (EPD) to export light ‘condensates’ puts an effective end to the export ban. It will have multiple effects on both the exploration and production companies working in the Permian, Eagle Ford and Bakken shale plays as well as domestic […]

Iran eases demands for nuclear capacity at Vienna talks

Iran has reduced demands for the size of its future nuclear enrichment program in talks with world powers although Western governments are urging Tehran to compromise further, Western diplomats close to the negotiations said on Thursday. The diplomats, who spoke to Reuters at the start of a two-week round of negotiations between Iran and the […]

ISIS Is Hiring Judges, Doctors And Engineers As Al-Qaeda Prepares For War Against Caliphate

As we reported earlier, in what was perhaps the first official action by the jihadists with the glossy year end brochures, the newly crated ISIS Caliphate which stretches from Syria to Iraq (and which is not longer ISIS, just IS, or Islamic State) made a global call urging the Muslim proletariat to immigrate to the […]

Iraq Crisis And The Oil Situation

The daily newspapers are now full of stories predicting that Iraq, as we know it, will soon disintegrate into three or more warring states. In the last two weeks Sunni insurgents led by the extremist ISIS have routed a good part of the Iraqi army, taken over much of northern Iraq not controlled by the […]

Kunstler: Voila World War Three

Whoever really runs things these days for the semi-mummified royal administration down in Saudi Arabia must be leaving skid-marks in his small-clothes thinking about Abu Bakr al-Baghdadi and his ISIS army of psychopathic killers sweeping hither and thither through what is again being quaintly called “the Levant.” ISIS just concluded an orgy of crucifixions up […]

US Supreme Court opens the “BACT” door for EPA on CO2, but it could swing two ways

The US Supreme Court last week rejected the methodology the Environmental Protection Agency used to implement its first-ever regulations on carbon dioxide emissions, but did lay out a path the agency can follow to achieve the same end by using the Clean Air Act’s the “Best Available Control Technology,” or BACT, provisions. And although the […]

Why Transition is all about politics

The Transition movement sometimes claims to be apolitical, but I think that politics can be defined as any issue in which there is a conflict of resources, and a decision to be made on how to allocate them. Although Transition isn’t party political, it’s a global social movement that seeks to create massive social and […]

Economist Warns Civil Unrest Rising Everywhere

The greatest problem we have is misinformation. People simply do not comprehend why and how the economic policies of the post-war era are imploding. This whole agenda of socialism has sold a Utopian idea that the State is there for the people yet it is run by lawyers following their own self-interest. The pensions created […]

Peak Oil Is Back!

Secret Trade Memos, TTIP And Write-down Of Two-thirds Of US Shale Oil Explodes Fracking Myth   We will start with the punch line: “According to a secret trade memo obtained by the Huffington Post, the Obama administration and the European Union are pushing ahead with efforts to “expand US fracking, offshore oil drilling and natural gas exploration”, as […]

Isis declares establishment of a sovereign state

The Islamic State of Iraq and the Levant, the extremist jihadi group behind an insurgency that has seized a swath of territory in Iraq and Syria, formally declared the establishment of a caliphate on Sunday, even as Iraqi government forces began to push back against it in a campaign centred on retaking the city of […]

Will Kurds use oil to break free from Iraq?

For sale: One million barrels of crude oil. Attractive discount offered. Currently sitting off Moroccan coast. That’s what the Iraqi Kurds are offering potential buyers, much to the fury of the government in Baghdad. It amounts to a declaration of economic independence, fraying the already tattered ties holding Iraq together. Here’s how it works: The […]

Half-Million Oil Barrels Daily May Meet New Export Class

As many as 500,000 barrels of light oil a day may be eligible for export under a new government classification, helping to soak up surging U.S. shale oil production. Pioneer Natural Resources Ltd. (PXD) and Enterprise Products Partners LP (EPD) said this week that the Commerce Department approved their plans to export some ultra-light crude, […]

Kerry, Saudi King discuss oil supply

U.S. Secretary of State John Kerry and Saudi King Abdullah briefly discussed global oil supplies during a meeting on the crisis in Iraq on Friday, a senior State Department official said. During the talks, Kerry referred to recent comments by a Saudi oil official that the world’s largest oil producer would increase supplies should crises […]

The Peak Oil Crisis: Iraq on the Precipice

The daily newspapers are now full of stories predicting that Iraq, as we know it, will soon disintegrate into three or more warring states. In the last two weeks Sunni insurgents led by the extremist ISIS have routed a good part of the Iraqi army, taken over much of northern Iraq not controlled by the […]

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