As the global markets feel the tremors this week from the coronavirus and the announcement of a major drop in oil prices, some U.S. producers are now having to tighten their belts. Will they survive the oil global glut?
It was quite the game-changing plot twist last Friday in Vienna when relatively polite discussions turned into a de facto OPEC+ meltdown.
Pepe ESCOBAR
Weak growth data and global economy outlook point towards a recession
Umesh DESAI
Oil prices have cratered and that should be good news for net importer Asia, right? Not really, if one were to look at the weak growth data and outlook for the global economy with a strong rally in bonds pointing towards a recession.
Throughout the history of Western Civilization there are times, but only on rare occasions, when people en masse feel compelled to run into the streets, similar to the storming of the Bastille 1789, screaming at the top of their lungs: “Stop the Madness!”
Pipelines convey fluids and gas within and between many countries and continents and in addition to making a profit for producers indubitably benefit those for whom the raw materials are destined. In India, for example, the most recent gas pipeline project is going to bring comfort to the neglected peoples of the north-east, as part of the grid being constructed to reach remote locations — which is expensive.
In Ellen Brown’s brilliant new article “Mexico’s AMLO Shows How It’s Done”, the researcher and national banking advocate made the powerful point that the only way to properly fight the neo-liberal order is for nations of the west to follow the lead of Mexico’s current President Lopez Obrador who recently announced the creation of a new network of national banks- of which over 3238 branches will be in operation by 2021.
Conn HALLINAN
On the surface, Turkish intervention in the Libyan civil war appears to be a savvy move on the Eastern Mediterranean energy chessboard, a check on plans by a consortium of the European Union (EU), Greece, Egypt, Israel, and Cyprus to exploit offshore gas and oil deposits there.
In exchange for military support, Libya’s beleaguered, UN-supported Government of National Accord (GNA) in Tripoli signed an agreement last November that re-draws maritime boundaries in the region, giving Ankara a seat at the table.
Anti-nuclear hysteria is destroying the environment
Jonathan TENNENBAUM
Germany now generates over 35% of its yearly electricity consumption from wind and solar sources. Over 30 000 wind turbines have been built, with a total installed capacity of nearly 60 GW. Germany now has approximately 1.7 million solar power (photovoltaic) installations, with an installed capacity of 46 GW. This looks very impressive.
Value and Socialist Distribution
War hawks in Israel and Washington have been quick to denounce Iran’s nuclear power ambitions for years with the repeated excuse that “Iran has so much oil that nuclear energy is irrelevant for them- unless they wanted to build an Islamic Bomb!”
