By John Quiggin, The University of Queensland The controversy ignited by the Australian National University in October, when it decided to sell its shares in seven resources companies, has raised two important questions about divestment from assets such as fossil fuels. The first is whether divestment is an economically prudent choice, and the second is […]
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Petroleum
Oil Price Fall: Saudi Arabia targets US Shale Oil, Iran, Iraq, Russia
By Juan Cole It is clear that among the major losers in the fall in the price of Brent crude petroleum from $115 a barrel last summer to about $75 a barrel today are Russia, Iraq and Iran. Petroleum sales are 50% of Russia’s income, and are also central for Iran and Iraq. But the […]
Iraq: A Bigger Threat than Extremists? Economy on Verge of Collapse
By Mustafa Habib | Baghdad | via Niqash.org The Iraqi dinar: there might not be enough oil revenue coming into Iraq next year. The high cost of fighting the extremist Islamic State group, the worldwide decrease in oil prices, corruption and a lack of sensible economic forward planning mean that Iraq may be on the […]
How human-emitted Carbon Dioxide Circulates in Earth’s Atmosphere (NASA)
NASA Goddard | — “An ultra-high-resolution NASA computer model has given scientists a stunning new look at how carbon dioxide in the atmosphere travels around the globe. Plumes of carbon dioxide in the simulation swirl and shift as winds disperse the greenhouse gas away from its sources. The simulation also illustrates differences in carbon dioxide […]
Saudi Arabia at the G20: Is it waging Econ War on Iran, Russia and N. Dakota?
By Juan Cole The G20 is a conference of the world’s top 20 economies as measured by Gross Domestic Product. Some observers have slammed it as an unelected and arbitrary body that is doing some of the work the United Nations was intended to do– only in a much less egalitarian way. The official web […]
Daesh (ISIL) Loses Refinery City in Iraq to Iraqi Army, Shiite Militias
By Juan Cole | — Iraqi army and police joined forces with Shiite militias and US close air support to expel Daesh (ISIL) from the city of Beiji, north of Baghdad beyond Tikrit. The Iraqi military claim has not been independently verified. The army is now only 1 kilometer (less than a mile) away from […]
20 Richest Countries Subsidize Oil & Gas Exploration as much as Whole World Subsidizes Green Energy
Analysis by Shelagh Whitley (IPS) LONDON, Nov 11 2014 (IPS) – Just a week after the Intergovernmental Panel on Climate Change (IPCC) gave its starkest warning yet that the vast majority of existing oil, gas and coal reserves need to be kept in the ground, a new report reveals that governments are flagrantly ignoring these […]
Mr. 2%: Tony Blair’s Secret Oil Contract with Saudis Revealed
TheLipTV: “Tony Blair’s secret contract with a Saudi oil company has been revealed as details have emerged that the ex-Prime Minister received £41,000 a month and two percent commission on any successful deals that he helped broker. Tony Blair Associates (TBA) signed the contract with PetroSaudi to help find them new sources of investment and […]
Sea Rise not Distant: Americans on Coast could see 200 Floods a Year before Mortgage paid Off
Union of Concerned Scientists: “As sea level rises higher over the next 15 to 30 years, tidal flooding is expected to occur more often, cause more disruption, and even render some areas unusable — all within the time frame of a typical home mortgage. Learn more at http://www.ucsusa.org/encroachingtides ” Union of Concerned Scientists: “Tidal Flooding […]