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Saudi Arabia’s anti-corruption purge is all about life after oil

Saudi Arabia’s anti-corruption purge is all about life after oil thumbnail

Saudi Crown Prince Mohammed bin Salman’s decision to arrest scores of the country’s most prominent officials and business elites under the banner of an anti-corruption purge last week was a remarkable power play, an unprecedented move designed to concentrate all authority in the Gulf state in one man’s hands. But the radical shake-up was also […]


Saudis and Trump: Gambling Bigly

Saudis and Trump: Gambling Bigly thumbnail

“My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel.” –  Rashid bin Saeed Al Maktoum, first Prime Minister of United Arab Emirates Try this simple mental exercise. Imagine a hypothetical Middle […]


The Saudi Coup Signals War And The New World Order Reset

The Saudi Coup Signals War And The New World Order Reset thumbnail

For years now, I have been warning about the relationship of interdependency between the U.S. and Saudi Arabia and how this relationship, if ended, would mean disaster for the petrodollar system and by extension the dollar’s world reserve status. In my recent articles ‘Lies And Distractions Surrounding The Diminishing Petrodollar’ and ‘The Economic End Game […]


Oil seen as real prize of Iran’s Kurdish adventure

Oil seen as real prize of Iran’s Kurdish adventure thumbnail

After helping Iraq stifle a Kurdish push for independence, Iran is now positioning itself to take control of oil exports from the region’s giant Kirkuk field, with the first deliveries expected within days, officials and trading sources said. FILE PHOTO: Flames emerge from flare stacks at the oil fields in Dibis area on the outskirts […]


The War That Would Transform Oil Markets

Public Policy

The oil pipeline resumed operations in a matter of hours, but the war of words is heating up. Bahrain’s Foreign Minister Khalid Al-Khalifa said on Twitter that the “attempt to bomb the Saudi-Bahraini oil pipeline is a dangerous Iranian escalation that aims to scare citizens and hurt the global oil industry.” A spokesperson for Iran […]


Kunstler: What Now?

Public Policy

It must be exciting to wake up on a gilded bed somewhere in Riyadh and realize that you are Saudi Crown Prince Mohammad bin Salman, mover and shaker of Middle East order. Actually, exciting just to have woken up at all. Perhaps Prince MBS checks to make sure that there aren’t seventy-two virgins in the […]


Saudi “Deep State” Prince Bandar Among Those Arrested In Purge

Public Policy

According to a new report by Middle East Eye, Prince Bandar bin Sultan – Saudi Arabia’s most famous arms dealer, longtime former ambassador to the US, and recent head of Saudi intelligence – was among those detained as part of Crown Prince Mohammed bin Salman’s (MBS) so-called “corruption purge” that started with the initial arrests of up […]


Saudi Shocks Reawaken Global Oil Markets to Political Risk

Public Policy

For the first time in three years, the chief concern in the oil market isn’t too much supply. Just as production cuts by OPEC and its allies finally deplete a surplus that has weighed on oil prices since 2014, political crises have hit the organization’s three biggest members. First, an eruption in Iraq’s long-running feud […]


Bans on Internal Combustion Engines May Backfire

Public Policy

A number of countries have stated their intention to ban the internal combustion engine (ICE) and shift to all electric vehicles in the next couple of decades. These announcements are encouraging on the surface. Governments are in favor of taking serious measures to reduce petroleum dependence and meet environmental goals. But using strong-armed approaches by […]


With Saudi Arrests, Crown Prince Shows He Can Force Change. But It’s Not Democracy

With Saudi Arrests, Crown Prince Shows He Can Force Change. But It’s Not Democracy thumbnail

The Saudi prince behind the weekend’s unprecedented arrest of high-level Saudi officials and businessmen is known as young and brash, and has even been called reckless. He is also known to be in tune with Saudi Arabia’s youth; those under 25 make up a majority of the country’s population. The prince’s latest high-risk move has […]


The Inside Story Of The Saudi Night Of The Long Knives

The Inside Story Of The Saudi Night Of The Long Knives thumbnail

Princes, ministers and a billionaire are ‘imprisoned‘ in the Riyadh Ritz-Carlton while the Saudi Arabian Army is said to be in an uproar… The House of Saud’s King Salman devises a high-powered “anti-corruption” commission and appoints his son, Crown Prince Mohammad Bin Salman, a.k.a. MBS, as chairman. Right on cue, the commission detains 11 House […]


Saudi Arabia Says Lebanon Declared War

Public Policy

As expected, Saudi Arabia has cast itself as the victim of external Shia plotting after its internal weekend of chaos which included a missile attack from Yemen, the deaths of two princes and other high officials within a mere 24 hours, and an aggressive crackdown against dissent in the royal family which saw close to a […]


Saudi Banks Begin Freezing Accounts Of Arrested Royals, Private Jets Grounded

Public Policy

Two days after the most stunning purge in recent Saudi history, the so-called “anti-corruption probe” – which was really a countercoup – that led to the arrest of dozens of Saudi Arabian royals, ministers and businessmen allowing Mohammed to further cement control over the Kingdom, appeared to be widening on Monday when, as Reuters reports, […]


Kunstler: What Could Go Wrong?

Kunstler: What Could Go Wrong? thumbnail

Everybody and his uncle, and his uncle’s mother’s uncle, believes that the stock markets will be zooming to new record highs this week, and probably so, because it is the time of year to fatten up, just as the Thanksgiving turkeys are happily fattening up — prior to their mass slaughter. President Trump’s new Federal […]


The Central Bank Bubble: How Will It Burst?

The Central Bank Bubble: How Will It Burst? thumbnail

Alberto Gallo of Algebris Investments steps up to take his shot at the $64,000 (more like trillion) question in a report published this week “The Central Bank Bubble: How Will It Burst?” Gallo manages the Algebris Macro Credit Fund described as “an unconstrained strategy investing across global bond and credit markets, and with lead responsibility […]


Missile intercepted near Riyadh

Public Policy

Saudi Arabia says it has intercepted a ballistic missile fired from Yemen, after a loud explosion was heard near Riyadh airport on Saturday evening. The missile was destroyed over the capital and fragments landed in the airport area, officials quoted by the official Saudi Press Agency said. A TV channel linked to Houthi rebels in […]


Iran Urges Russia To Ditch The Dollar, Isolate America

Public Policy

Iran has suggested isolating the US by ditching the dollar during a meeting yesterday with Russian President Vladimir Putin in Tehran. Remonstrating against US threats to impose new sanctions and cancel the nuclear agreement, Ayatollah Ali Khamenei branded the US an enemy and urged Moscow to completely sever ties with the US currency: “By ignoring […]


Iraq Wants Control Of Kurdish Region’s Oil

Public Policy

Iraq wants the Kurdistan region to stop independent crude exports and to hand over sales operations to the Iraqi state-oil marketer SOMO, the company’s director said on Thursday. Iraq is talking to Turkey to allow SOMO to sell the Kurdish crude that arrives by pipeline in Ceyhan, the Turkish terminal on the Mediterranean, acting SOMO […]


Exodus: Why Are People Compelled to Leave their Homes?

Exodus: Why Are People Compelled to Leave their Homes? thumbnail

Facts are facts, and one of them is that while everybody talks about the growing forced movement of people –be they migrants or refugees—decision-makers haven’t seriously acted on the root causes of why millions of humans are compelled to leave their homes. There has been a surge in international migration in recent years, reaching a […]


Let’s Talk Candidly About Energy

Public Policy

Even though Americans are working more hours, many are still watching their paychecks erode and saving less money – if they are saving anything at all. Against this current backdrop, people across the country are spending an annual average of $3,512 per person on energy, according to the U.S. Energy Information Administration (EIA). With the […]


Trump to Auction Off Swaths of Gulf of Mexico to Oil Companies

Trump to Auction Off Swaths of Gulf of Mexico to Oil Companies thumbnail

The Trump administration made history Tuesday in proposing that nearly 77 million acres in the Gulf of Mexico be made available for companies wanting to purchase federal oil and gas leases — the largest offering ever in the United States. In announcing the sale, the Interior Department compared the targeted waters to “about the size of […]


Turns Out, the US Does Have That Iraqi Oil

Public Policy

Before America’s Twitter-loving president made it to the Oval Office, a recurring theme was that the U.S. should have gotten hold of Iraq’s oil after toppling Saddam Hussein. There’s this: We should have gotten more of the oil in Syria, and we should have gotten more of the oil in Iraq. Dumb leaders. — Donald […]


The World’s New Reserve Currency? Everything You Need To Know About PetroYuan

Public Policy

Earlier this week, we pointed out that the ‘PetroYuan’ is on the verge of becoming reality with Graticule’s Adam Levinson noting that the birth of a yuan-denominated oil contract will be a “huge story” in the fourth quarter, and will be a “wake up call” for investors who haven’t paid attention to the plans. As […]


Lies And Distractions Surrounding The Diminishing Petrodollar

Public Policy

There are a few important rules you have to follow if you want to join the consortium of mainstream economic con-men/analysts. Take special note if you plan on becoming one of these very “special” people: 1) Never discuss the reality that government fiscal statistics are not the true picture of the health of the economy. […]


“It’s A Huge Story”: China Launching “Petroyuan” In Two Months

“It’s A Huge Story”: China Launching “Petroyuan” In Two Months thumbnail

As a reminder, nothing lasts forever… The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system. “The dominance of the greenback is the root cause of global financial and economic crises,” Justin Yifu Lin told Bruegel, a Brussels-based […]


Let’s End Subsidies For Fossil Fuels, Not Renewables

Let’s End Subsidies For Fossil Fuels, Not Renewables thumbnail

Environmental Protection Agency Administrator Scott Pruitt recently proposed eliminating federal tax credits for wind and solar power, arguing that they should “stand on their own and compete against coal and natural gas and other sources” as opposed to “being propped up by tax incentives and other types of credits….” Stand on their own? Pruitt surely […]


One billion ‘invisible people’ miss out on basics

One billion ‘invisible people’ miss out on basics thumbnail

(FILES) This file photo taken on September 24, 2016 shows children from the Suri tribe posing in Ethiopia’s southern Omo Valley region near Kibbish. More than 1.1 billion people worldwide officially don’t exist — going about their daily lives without proof of identity. The issue leaves a significant fraction of the global population deprived of […]


Here Is The IMF’s Global Financial Crash Scenario

Public Policy

Hidden almost all the way in the end of the first chapter of the IMF’s latest Financial Stability Report, is a surprisingly candid discussion on the topic of whether “Rising Medium-Term Vulnerabilities Could Derail the Global Recovery”, which is a politically correct way of saying is the financial system on the verge of crashing. In […]


An ecological view of Trump’s trade war

Public Policy

Whether you regard President Donald Trump’s rejection of America’s trade agreements as a good thing or a bad thing, few people understand what canceling them would mean. From an ecological point of view, abruptly pulling out of trade agreements, agreements which have resulted in innumerable long-term investments and commitments, is the ecological equivalent of a […]


US-allied forces take Syria’s largest oil field from Islamic State

US-allied forces take Syria’s largest oil field from Islamic State thumbnail

US-allied forces have captured Syria’s largest oil field from the Islamic State group. The Kurdish-led Syrian Democratic Forces (SDF), who are in a race with Russian-backed Syrian government forces to seize parts of the oil-rich Deir el-Zour province, said they are in full control of the Al-Omar field. The Syrian Observatory for Human Rights said […]


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@BrankoMilan For more information: @ASPOUSA @MaWackernagel Dennis Meadows Alice Friedemann Charles A.S. Hall @g_kallis And the very informative conferences of geologist Colin Campbell: youtube.com/watch?v=tW6o8c… #Peakoil #Degrowth