Daniel Yergin: How to cut off Russian oil and gas to Europe without causing chaos

What seemed undoable when Russia invaded Ukraine — banning Russian oil and gas sales in a Europe that depends heavily on Russian energy — is becoming increasingly likely. But it will need to be done right if it is going to work. Sanctions imposed against Russia in February after the war began notably excluded energy […]

Biden resumes oil and gas leases on federal land

The Biden administration announced Friday that it would resume lease sales for oil and gas drilling on federal land, though it plans to reduce the amount of land available significantly and will increase the royalty it charges companies for the oil and gas produced on the land. The Interior Department said in a news release […]

Richard Heinberg: The Failure of Global Elites

In the 1970s, global political and corporate elites had all the information they needed to put the world on a path toward long-term stability. Systems science was sufficiently advanced that a team of its practitioners organized a scenario study to see how trends in industrial production, population, food, pollution, and resource usage might interact over […]

Bretton Woods III : Zoltan Pozsar & Yra Harris

Financial Repression Authority http://financialrepressionauthority.c…

Gulf Oil Producers Seek U.S. Military Support Against Yemen Attacks

Some of the largest Gulf oil producers, including Saudi Arabia and the United Arab Emirates, are seeking to sign a written treaty with the United States under which the U.S. could provide defense support after attacks from Yemen have intensified, Bloomberg reported on Wednesday, quoting sources with knowledge of the proposal. Ideally, the major oil […]

A new EU partnership could triple U.S. exports of liquified natural gas

Europe’s super serious about dumping Russian natural gas. And the big winner will be U.S. LNG. On March 25, President Biden and European Commission head Ursula von der Leyen took the stage in Brussels to announce a stunning trans-Atlantic pact to accomplish what many doubted the world would ever see: A firm commitment to dump […]

World War III is here, but it’s not what we expected

Movies and books have often portrayed World War III as either the final chapter of the human epoch or as a new but primitive restart for those who survive the nuclear conflagration. We cannot know if such prophesies will ultimately come true. For now World War III appears to have started with Russia’s attack on […]

China Planned Taiwan Invasion in Fall, Alleged Russian Intel Leak Claims

Taiwan‘s top diplomat said he couldn’t speak on the authenticity of a purported Russian intelligence document that claimed Chinese President Xi Jinping had plans to annex the island nation this fall. Joseph Wu, Taiwan’s minister of foreign affairs, said on Wednesday that his country would have to prepare regardless. “No matter if or when China […]

Missiles hit US consulate in north Iraq, no casualties

At least six missiles were fired Sunday toward the U.S. consulate in Iraq’s northern city of Irbil, with several missiles hitting the building, Iraqi and U.S. security officials said. A U.S. official said the missiles were launched from neighboring Iran. Early reports suggested there were no U.S. military casualties, a senior U.S. defense official said. […]

The Only Non-Totalitarian Solution To Resource Scarcity: Decentralized Degrowth

Totalitarian-imposed-inequality is the only possible path of centralized Degrowth: 10,000 for me, one for you, unless you disobey, and then you get zero. The fantasy is that everything will soon be super-abundant and cheap again because creating money out of thin air creates demand out of thin air and supply will always magically appear if […]

West tries to force Russia from Ukraine, endgame elusive

As Western leaders congratulate themselves for their speedy and severe responses to Russia’s invasion of Ukraine, they’re also scratching their heads with uncertainty about what their actions will accomplish. The U.S., NATO and the European Union have focused on strangling Russia’s economy and arming Ukrainian fighters. But it’s unclear how this will stop the war. […]

A Serious Proposal on US Energy

“My policy on cake is pro having it and pro eating it.” – Boris Johnson On March 30, 1949, Syrian President Shukri al-Quwatli was ousted in a military coup backed by the Central Intelligence Agency (CIA), a first for the newly formed spy organization. Despite being twice elected to his position, Quwatli had to go […]

Russian judo tears the West apart

The battlefield is drawn. The official Russian blacklist of hostile sanctioning nations includes the US, the EU, Canada and, in Asia, Japan, South Korea, Taiwan and Singapore (the only one from Southeast Asia). The Global South should be aware there are no nations from West Asia, Latin America and Africa. Moscow has not even announced […]

Biden Set to Announce Russian Oil Ban Today

The Biden administration will impose a ban on U.S. imports of Russian energy on Tuesday without the participation of its European allies, according to people familiar with the matter. The ban will include Russian oil, liquefied natural gas and coal, according to two people, who spoke on condition of anonymity. The decision was made in […]

USA Weighs Acting Solo on Russia Oil Ban

The Biden administration is considering whether to prohibit Russian oil imports into the U.S. without the participation of allies in Europe, at least initially, according to two people familiar with the matter. The administration has yet to decide on a U.S. import ban, with the timing and scope of any move still fluid, according to […]

Kunstler: Nowhere Left to Hide

Financial markets are averse to threats of chaos and death. These conditions tend to interfere with formal promises between parties to service loans, which is the basis of finance. Time, they say, is nature’s way of making sure that everything doesn’t happen at once. If that’s so, then maybe time has stopped because all of […]

Russia Says Global Oil Embargo Could Push Prices Over $300

With the US reportedly said to vote as soon as Tuesday on a proposal to ditch trade relations with Russia and Belarus, including suspending oil imports despite repeated objections from Germany which has stated that a collapse in supply threatens “social cohesion”, Russian Deputy PM Novak said that a ban on Russian oil would result […]

U.S., Allies Discussing Oil Embargo

The International Atomic Energy Agency said it’s having trouble getting through to staff operating the Zaporizhzhia nuclear power plant, which is now under the control of Russian forces. Russian President Vladimir Putin told his Turkish counterpart that Ukraine must agree to his demands in order for fighting to end, lowering hopes for progress at a […]

How Does This End?

Wars sometimes start easily, but it is a tenet of strategy that they are always unpredictable and extremely hard to end. Putin’s war of choice in Ukraine is already escalating faster than most experts would have imagined just a week ago. He has now encircled major Ukrainian cities with his army and threatens to flatten […]

TINA to the US dollar as the reserve currency

Crude oil’s price surge has historically been associated with recessions Nothing works better than a historical chart to illustrate my point here. A 47% price surge in Brent and a 48% increase in WTI this year alone will become a substantial drag on the US and global economy this year. Have a look at this […]

China’s purchase of Iranian oil more than before sanctions

Chinese imports exceeded 700,000 barrels per day (bpd) for January, according to estimates of three tanker trackers, surpassing the 623,000 bpd peak recorded by Chinese customs in 2017 before former U.S. President Donald Trump reimposed sanctions in 2018 on Iranian oil exports. One tracker estimated imports amounted to 780,000 bpd in November-December on average. The […]

Russia reveals number of troops killed and injured in Ukraine

Nearly 500 of the country’s soldiers have died amid the ongoing offensive, the Russian Defense Ministry has revealed Some 498 Russian servicemen have been killed and nearly 1,600 wounded during the ongoing assault on Ukraine, Russia’s military claimed on Wednesday. The Defense Ministry refuted reports that there have been “countless” casualties, branding the claims as deliberate disinformation […]

Biden Admin Vows to Avoid Russia Oil Sanctions

The Biden administration won’t sanction Russian crude oil because that would harm U.S. consumers and not Vladimir Putin, a U.S. State Department official said Friday. “The sanctions will not target the oil flows as we go forward,” Amos Hochstein, the State Department’s senior energy security adviser, said in an interview on Bloomberg Television. The remarks […]

Russia’s Energy Dominance Ties West’s Hands in Ukraine War

Europe gets about 40% of its natural-gas imports from Russia, making it hard to sanction a vital revenue stream for Moscow Western countries weighing how to sanction Russia over the invasion of Ukraine are up against the reality of its grip over Europe’s energy supply. Even as sanctions are being imposed, the same countries doing […]

Kunstler: The Party of Chaos Blows Its Cover

The Ukraine blow-up is more a humiliation for “Joe Biden” and his faction than for the US per se, for the truth is that we have scant interest in that corner of the world and what goes on there is none of our business, and never was…. It is fair to say that the “Joe […]

Ukrainian foreign minister calls for Russian oil embargo

Ukrainian foreign minister Dmytro Kuleba called on Saturday for a full isolation of Russia, including an embargo on the purchases of Russian crude. “I demand the world: fully isolate Russia, expel ambassadors, oil embargo, ruin its economy,” Kuleba wrote on Twitter. reuters

The Risk of Nuclear Disaster in Ukraine

Of all the obvious dangers that come with war, one of the most far-reaching in the current Russia-Ukraine conflict has been woefully underappreciated. Even if commanders took pains to avoid striking Ukraine’s 15 nuclear power reactors, that might not be enough to avoid a catastrophe. LOS ANGELES – Russia’s large-scale military mobilization on Ukraine’s border […]

Germany freezes Nord Stream 2 gas project as Ukraine crisis deepens

Germany on Tuesday halted the Nord Stream 2 Baltic Sea gas pipeline project, designed to double the flow of Russian gas direct to Germany, after Russia formally recognised two breakaway regions in eastern Ukraine. Europe’s most divisive energy project, worth $11 billion, was finished in September, but has stood idle pending certification by Germany and […]

EU and U.K. Propose Sanctions to Confront Putin

The European Union and the U.K. set out initial packages of sanctions targeting Moscow after Russia’s lower house of parliament ratified treaties recognizing two self-proclaimed republics in eastern Ukraine, marking a dramatic escalation in the crisis. The moves follow weeks of warnings from the U.S. and its partners that President Vladimir Putin could be planning […]

The Cost Of Living In The US Is Rising To Absolutely Absurd Levels

Most of the time, the vast majority of Americans simply do not care about economics.  And it pains me to say that, because I have been running a website about economics for more than a decade.  But it is true.  Under normal circumstances, most hard working Americans don’t have the time or the energy to […]

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