Petroleum

Belgrade (Special to Informed Comment) – Frenemies Russia and Turkey have put their conflict in Syria on hold, but they have intensified their rivalry in another proxy conflict. In Libya, clashes between Moscow-backed Libyan National Army (LNA) and Ankara-backed Government of National Accord (GNA) escalated, as the US Africa Command accused Kremlin of deploying military […]

Climate Crisis

Frankenfuel: The Market is done with Big Oil and Coal, but will they Lumber on with Gov’t Subsidies?

John Buell

Southwest Harbor, Maine (Special to Informed Comment) – Are the big oil stocks headed for collapse? Citizens as diverse as climate activist and 350.org founder Bill McKibben and CNBC finance guru Jim Cramer seem to think so. Here is Cramer as reported by Axios in early February even before the historic plunge in crude prices.\ […]

Climate Crisis

Oil’s Götterdämmerung: Why Covid-19 could Hasten the end of Fossil Fuels

Sustainability Times

( Sustainability Times) – Last week the oil market took another plunge that saw the price of one barrel of West Texas Intermediate (WTI) fall 8 percent to $10.45 on Tuesday.. Last Monday, WTI crashed by 25 percent and rocked the market, yet the decline was relatively minor compared to what happened two weeks ago […]

Epidemics

Russia: Could the Coronavirus Crisis Loosen Vladimir Putin’s Grip on Power?

Nikola Mikovic

Belgrade (Special to Informed Comment) – The COVID-19 pandemic has already opened the gates for a huge global economic crisis. Russia will not be spared, and its economy is expected to suffer at least until the world oil market stabilizes. How will that affect Vladimir Putin’s popularity? The geographically largest country in the world already […]

Epidemics

In Age of Pandemic, is Mismanagement driving Saudi Arabia toward Bankruptcy?

Middle East Monitor

By Motasem A Dalloul | @abujomaaGaza | – ( Middle East Monitor ) – On 6 March, the OPEC+ cartel failed to agree on a cut in oil production in the light of reduced demand due to the coronavirus pandemic affecting almost every country in the world. All of this came in the middle of […]

Donald Trump

Trump threatened to pull US Security Umbrella from Saudi if it didn’t raise Oil Prices to Help US Frackers

Juan Cole

Ann Arbor (Informed Comment) – On April 2, the Republican Party more or less joined the Organization of Petroleum Exporting States Plus (OPEC+). That is the upshot of reporting by Timothy Gardner, Steve Holland, Dmitry Zhdannikov, and Rania El Gamal for Reuters that Trump threatened de facto Saudi ruler crown prince Mohammed Bin Salman with […]

Climate Crisis

The Beginning of the End for Oil? Energy in a Post-Pandemic World

Michael T. Klare

( Tomdispatch.com) – Energy analysts have long assumed that, given time, growing international concern over climate change would result in a vast restructuring of the global energy enterprise. The result: a greener, less climate-degrading system. In this future, fossil fuels would be overtaken by renewables, while oil, gas, and coal would be relegated to an […]

Arab World

With Oil Cratering and Saudis facing Mountain of Debt, what Future for Arab World with Coronavirus?

Middle East Monitor

( Middle East Monitor ) – Oil prices have hit zero. Yes, oil was “sold” this week with producers only asking buyers to pay for transporting it to its final destination. This is the worst collapse in oil markets in history; it is unprecedented for oil to lose 94 per cent of its value in […]

Climate Crisis

US Oil “Technically Worthless,” and Coal Plants Shuttered, as a Tidal Wave of Bankruptcies Looms

Juan Cole

Ann Arbor (Informed Comment) – May contracts for West Texas Intermediate (WTI) crude oil went as low as -$37.63 on Monday. So report Jillian Ambrose and Martin Farrer at The Guardian. The price, well below zero, was a first for the US oil market, and showed the conviction of traders that the economy would not […]