By Michael T. Klare | (Tomdispatch.com) | – – Pity the poor petro-states. Once so wealthy from oil sales that they could finance wars, mega-projects, and domestic social peace simultaneously, some of them are now beset by internal strife or are on the brink of collapse as oil prices remain at ruinously low levels. Unlike […]
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Petroleum
The Collapse of the Old Oil Order
By Michael T. Klare | ( Tomdispatch.com) | – – Sunday, April 17th was the designated moment. The world’s leading oil producers were expected to bring fresh discipline to the chaotic petroleum market and spark a return to high prices. Meeting in Doha, the glittering capital of petroleum-rich Qatar, the oil ministers of the Organization […]
Reinventing Saudi Arabia after Oil: The Prince’s $2 Trillion Gamble
By Juan Cole | (Informed Comment) | – – Prince Muhammad Bin Salman, 30, the deputy crown prince of Saudi Arabia laid out his vision for Saudi Arabia on Monday in a plan called “Vision 2030.” He wants to get Saudi Arabia off its oil dependence in only 4 years, by 2020, and wants to […]
Gas Prices to stay Low? Saudi-Iran Tensions Block Oil Output Freeze
TeleSur | – – Oil producing countries meeting in Doha failed to reach an agreement to freeze output. They may meet again in June. OPEC and non-OPEC producers on Sunday failed to reach a deal to freeze oil output, three oil industry sources told Reuters. Sources said OPEC producers had told non-OPEC members they needed […]
Is Exxon a James Bond Villain? Hiding from us its knowledge of Climate Change for Decades
Dena Takruri | (AJ+ Video Report) | – – “Melting ice caps, rising sea levels, global warming – Exxon was aware of the risks of climate change well before much of the world. Instead of taking action, they pushed hard against legislation that would have cut CO2 emissions, including the Kyoto Protocol.” AJ+: ” Exxon […]
Oil Glut Blues and the last hurrah of the Fossil Fuel Bubble
Michael T. Klare | ( Tomdispatch.com) | – – Three and a half years ago, the International Energy Agency (IEA) triggered headlines around the world by predicting that the United States would overtake Saudi Arabia to become the world’s leading oil producer by 2020 and, together with Canada, would become a net exporter of oil […]
Great Barrier Reef Endangered: Ocean turning Acidic from our Our Coal, Oil, Gas emissions
By Mathieu Mongin, Andrew Lenton, Jennifer Skerratt & Mark Baird | (The Conversation) | – – Those of us who have been fortunate enough to have travelled to spectacular coral reefs marvel at their colour and biodiversity. At around 2,000 km long, the Great Barrier Reef is the largest coral reef system in the world. […]
The Saudi-Russian Oil Price Freeze is about Power, not Money
By Nafis Alam | (The Conversation) | – – Saudi Arabia and Russia, the world’s two most powerful oil producers, have reached a tentative agreement to freeze oil production at its current levels. As the first deal between an OPEC and non-OPEC member in 15 years, it marks a significant declaration of intent. But it […]
Mideast Arms Purchases Continue Despite Falling Oil Prices, Austerity
By Thalif Deen | (Inter Press Service) | – – UNITED NATIONS, Feb 22 2016 (IPS) – The continued decline in oil prices is threatening to have a direct and indirect impact on several fronts, including development aid, migrant workers and remittances, voluntary contributions to UN agencies, humanitarian assistance to refugees and infrastructure-building in the […]