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Poor Countries Borrowed Billions Using Their Oil As Collateral And Are Now Struggling To Pay

Poor Countries Borrowed Billions Using Their Oil As Collateral And Are Now Struggling To Pay thumbnail

Smaller countries that have taken out billions of dollars in loans that they have promised to pay back in oil are starting to fall behind on their payments. The deals are structured so that countries are advanced money from trading houses that will be paid back in future oil shipments. These types of loans have […]


During Pandemic, A Transatlantic Divide Emerges On Energy Policy

Public Policy

Carbon emissions have been down in recent weeks because of the pandemic because far fewer people are driving or flying. But that has also meant less demand for fuel, and less revenue for oil and gas companies. As a result, some European-based companies are investing more of their resources into renewable energy production. But American […]


How To Understand All This China Stuff

Public Policy

China is in the news every day now. Today here in Australia we’re pretending to be offended because a Chinese tabloid published the accusation that our nation is a “giant kangaroo that serves as a dog of the US”, even though we all know that’s completely true and we should be flattered that at least they […]


Saudi Arabia loses its wealth

Public Policy

On Monday, Saudi authorities announced unprecedented measures to salvage its finances from an imminent meltdown, caused by mismanagement rather than simply the coronavirus pandemic or the collapse of oil prices, Middle East Eye writes in the article Saudi financial crisis will spark resistance to plundering of state. From July, an increase in VAT from five percent […]


Michael Klare: The Beginning of the End for Oil?

Public Policy

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 increasingly marginal role […]


Michael T. Klare: The Global Food Crisis

Public Policy

In San Antonio, 10,000 families began arriving before dawn on April 9 to receive free boxes of food at a shuttered mall; in a normal week, 200–400 families might show up. In Nairobi, Kenya, thousands of desperately poor people seeking government food aid on April 10 were beaten back by the police, causing multiple injuries. […]


Massive Face Off Erupts Between Indian and Chinese Troops, Several Injured

Massive Face Off Erupts Between Indian and Chinese Troops, Several Injured thumbnail

The two countries, India and China, share a 2,400-mile long demarcated border. As per official data by the Indian Defence Ministry, Chinese troops have transgressed into Indian territory as many as 752 times in the last two years. The two nations have been blaming each other for entering each other’s territories. Several soldiers were injured […]


From Overstretch to Collapse

From Overstretch to Collapse thumbnail

In less than three decades, a mere blink of the eye in historical terms, the United States has gone from the world’s sole superpower to a massive foundering wreck that is helpless before the coronavirus and intent on blaming the rest of the world for its own shortcomings. As the journalist Fintan O’Toole noted recently […]


The downfall of ‘Professor Lockdown”: triumphs and failure of science based policies

Public Policy

  Scientists normally think that a scientific theory can be good or bad independently of the moral status of the person who proposes it. But in politics, the messenger can be blamed. That was the probable reason for the downfall of Dr. Neil Ferguson, nicknamed “Professor Lockdown,” whose moral position was destroyed by a petty […]


Is Trump Kicking The Saudis To The Curb The Beginning Of Something Not Terrible?

Is Trump Kicking The Saudis To The Curb The Beginning Of Something Not Terrible? thumbnail

More than anything else in Saudi Arabia, that thing you smell is fear. Everything is coming unglued for the royal family there all at once. If we all weren’t so distracted by the Coronapocalypse these things would all be front page news. In the past week there have been three major stories concerning Saudi Arabia, […]


Saudi Arabia, Hit With Oil Collapse and Coronavirus, Tosses Lifelines

Saudi Arabia, Hit With Oil Collapse and Coronavirus, Tosses Lifelines thumbnail

Saudi Arabia is taking unprecedented measures to cushion the blow of rock-bottom oil prices and the new coronavirus pandemic, as the monarchy seeks to extricate the kingdom from its worst financial predicament in decades. Oil prices have crashed since early March in part because Crown Prince Mohammed bin Salman launched an oil-price war with Russia, […]


U.S. Treasury To Borrow $3 Trillion In 3 Months To Pay For Pandemic

U.S. Treasury To Borrow $3 Trillion In 3 Months To Pay For Pandemic thumbnail

The U.S. Treasury Department plans to borrow nearly $3 trillion between April and June to bankroll the federal response to the coronavirus pandemic. It’s an unprecedented level of deficit financing to match the historic economic hit caused by the virus. In a single quarter, the government will borrow more than twice as much as it […]


The Green New Deal and Beyond: Ending the Climate Emergency While We Still Can

Public Policy

A leakproof, declining cap on fossil fuels is a necessary step to constrain global warming and stabilize the ecosphere, but doing so will have huge economic repercussions, and it’s hard to imagine Big Petroleum, Big Coal, or private utility companies going along with anything like it. As they have throughout their history, they will use […]


Kunstler: Slouching Toward Resolution

Public Policy

The people of this land have enough trouble in mind — what with livelihoods, careers, businesses, marriages, hopes and dreams circling the drain in the new insta-depression — but let’s hope they have just a little attention left over for the whirlwind denouement of the odious RussiaGate affair, now finally shredding the last defenses of […]


Anticipating the Die-Off

Anticipating the Die-Off thumbnail

Note: I wrote this post back in 2010.  Although one can see that the points about peak oil have not come true, other claims like the following do seem newly possible:  “Thousands of companies will go bankrupt, and millions will be unemployed. Once affluent cities with street cafés will have queues at soup kitchens and […]


Trump Poised to Offer Bridge Loans to Ailing Oil Companies

Trump Poised to Offer Bridge Loans to Ailing Oil Companies thumbnail

The Trump administration may announce as soon as Thursday a plan to offer loans to the ailing oil industry possibly in exchange for a financial stake, according to two people familiar with the matter. Treasury Secretary Steven Mnuchin and Energy Secretary Dan Brouillette have already briefed President Donald Trump on a plan to provide financial […]


The Decline of the Nation-State

The Decline of the Nation-State thumbnail

California Gov. Gavin Newsom issued something very close to a declaration of independence for the largest U.S. state while speaking on MSNBC earlier this month. Noting that California has been forced in a position of “competing against other states, other nations, against our own government” for badly needed personal protective equipment to fight the coronavirus, […]


Fossil Lobby Demands Massive Deregulation in ‘Crass Attempt to Exploit Global Pandemic’

Public Policy

The Canadian Association of Petroleum Producers (CAPP) called on the federal government to suspend more than 30 environmental regulations, laws, and policies in response to the coronavirus pandemic, in a 13-page letter issued March 27 and released last week by Environmental Defence. The missive to Natural Resources Minister Seamus O’Regan and seven other cabinet ministers […]


What’s Collapsing Can’t Be Saved: Our Fraudulent Economy

Public Policy

Pulling the sleeve down to hide the tracks doesn’t mean the addict is cured. Just for a change of pace, can we be bluntly honest about the U.S. economy? It’s difficult to do because we’ve chosen to ignore all the realities, much like a family that hides all the addictions, drunkenness and lies in a dysfunctional […]


What Just Happened to the Mercury Rule?

What Just Happened to the Mercury Rule? thumbnail

Last week’s EPA decision adds insult to injury for our already vulnerable communities. Perhaps you missed it. There’s a lot going on right now. But amidst all the COVID-19 headlines last week, the EPA decided that it is not “appropriate and necessary” for the government to limit emissions of mercury and other hazardous air pollutants from […]


China imposes NEW coronavirus lockdown – fears grow for devastating second wave

China imposes NEW coronavirus lockdown – fears grow for devastating second wave thumbnail

A FRESH coronvirus outbreak in China’s Henan province has raised fears of a devastating second COVID-19 wave – despite the ruling Chinese Communist Party’s attempts to claim the country is winning the battle against the disease. Coronavirus: Expert on China’s ‘fear of second wave’ A fresh cluster of cases has been reported among medical staff […]


Seeds Of Awakening: Notes From The Edge Of The Narrative Matrix

Public Policy

If we’re honest with ourselves, electoral politics has failed and we need a revolution. If we’re really honest with ourselves, revolution will fail until propaganda is eliminated. If we’re really really honest with ourselves, everything will fail without a mass-scale awakening. ~ The most revolutionary thing you can do is use your creativity to find […]


Kunstler: Risings and Fallings

Public Policy

In the corkscrewing anguish of the social sequester, with careers, savings, futures, and dreams whirling down the drain, voices rise above the din of conflicting statistics to ask: what is going on here? To some, it looks like a deliberate attempt to demolish what’s left of the economy for political advantage. Clouds of suspicion gather […]


Trump Has “Big Talk” With Putin, Saudi King Salman About Oil

Trump Has “Big Talk” With Putin, Saudi King Salman About Oil thumbnail

U.S. President Donald Trump said he had a “big talk” with Russian President Vladimir Putin and Saudi King Salman regarding oil production, expressing hopes that a deal on the control of said production would be announced soon. “We had a big talk as to oil production and OPEC and making it so that our industry […]


Prepare To Have Your Worldview Obliterated

Public Policy

The first draft of the civil rights-eroding USA PATRIOT Act was magically introduced one week after the 9/11 attacks. Legislators later admitted that they hadn’t even had time to read through the hundreds of pages of the history-shaping bill before passing it the next month, yet somehow its authors were able to gather all the necessary information […]


The Policy and Politics of the COVID-19 Oil Market Crash

The Policy and Politics of the COVID-19 Oil Market Crash thumbnail

Two energy economists discuss supply, collusion, jobs, and the impact on gasoline prices This week’s blog post is a podcast.  Last Wednesday, I sat down (from a safe 2000 mile distance) with University of Chicago Professor (and Energy Institute alum) Ryan Kellogg to talk about how the sudden downturn in oil demand is affecting the […]


This Is The Biggest Economic Terrorist Attack In World History

Public Policy

As I continue to keep an eye on the coronavirus “news”, it gets clearer with each passing day just how far the mainstream media and associates are willing to push their agenda. If the fear-hyped propaganda continues at the rate we’re seeing now, we are almost guaranteed to experience much graver circumstances just around the […]


Keiser Report | Supply Chains: The Last Mile

Public Policy

In this episode of the Keiser Report, Max and Stacy look at the supply chains wobbling as the last mile fails to deliver. From getting the free money from the Fed past the Wall Street hoarders and into the hands of the small businesses idled by pandemic and a stop to the flow of money […]


China to Start Buying Oil for State Reserves After Crash

Public Policy

Beijing sets target to cover 90 days of net oil imports Could be expanded to 180 days when including commercial tanks China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter. The world’s biggest importer is taking advantage […]


The Oil Collapse

The Oil Collapse thumbnail

The global oil market has never in history collapsed as precipitously as it has right now. The oil and gas industry, which provides almost 60 percent of the world’s energy, is engulfed in a double crisis that would have been dismissed as unthinkable at the start of this year. A price war, with producing nations […]


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Could it be #peakoil? IEA chief says low oil prices will take demand beyond pre-crisis highs worldoil.com/news/2020/5/25…