The International Energy Agency forecast that the US could become the world’s top oil exporter by 2024. The report attributes this to “the incredible strength of its shale industry”, noting that it amounts to “a pivotal milestone that will bring greater diversity of supply in markets.” Although the agency’s full […]
What are the options available with Paris and Berlin over Ukraine vis-à-vis Russia? The faultlines in their relations with Trump seriously weaken their capacity to cope with Russian resurgence.
What will be keenly watched in the period ahead, therefore, is how the new alchemy transforms Russian-Saudi relationship on the whole, especially given the backdrop of cloud of uncertainty hanging heavily on US-Saudi ties at present.
If looked at as the opening salvo of a global energy war being waged in parallel with the trade one as opposed to being dismissed as the populist piece of legislation that it’s being portrayed as by the media, NOPEC can be seen as the strategic superweapon that it actually is, with its ultimate effectiveness being dependent of course on whether it’s properly wielded by American decision makers.
Iran regards Russia and Saudi Arabia’s OPEC+ output deal as a strategic threat, though its characteristic doesn’t imply any danger but should instead be interpreted more as a domestic political signal intended to redirect public rage away from the authorities and against the international community.
“….in the meantime it is imperative that no Eurasian challenger (to the US) emerges capable of dominating Eurasia and thus also of challenging America.” Zbigniew Brzezinski, The Grand Chessboard, April 1997 For several decades and centuries, the European and Asian colonial powers fought among themselves for control of foreign lands, […]
Islamic State leader Caliph Ibrahim – aka Abu Bakr al-Baghdadi – never ceases to amaze us – and most of all his powerful petrodollar-stuffed backers. The Caliph is for all practical purposes now an oil major worth of membership of the Organization of the Petroleum Exporting Countries (OPEC). His takfiri/mercenary goons […]