The boom in North American energy (primarily related to shale in the US and oil sands in Canada) is one of the biggest stories in the global economy.
A new report from The International Energy Agency (IEA) agency discusses the consequences of the boom in dramatic fashion, arguing that it’s as big of a deal for the world oil market as the rise of China was over the last 15 years.
The report [...]
by Charles Hugh-Smith
An independent, critical account of the American economy would soon raise questions about the structural causes of inequality.
That some sectors of the economy will be doing better than others is natural. If you’re a landlord or mobile-apps coding genius in San Francisco, the economy is excellent. Those working in the vast North American oil-patch are experiencing a boom economy. Realtors in resurgent markets such as Miami are having their [...]
(The above is video shot by a local resident in Mayflower, Arkansas.)
And take a look at these must-see pictures of the spill.
No one is admitting how much oil was released.
This is just like BP’s massive efforts to hide the extent and damage from the oil spill – even though their approach led to greater oil pollution – in order to avoid costs.
Indeed, Senator Sander said:
It reminds me of what happened on the Gulf coast. It reminds me of the [...]
When President Barack Obama blocked the Keystone Pipeline, Republicans said the move would encourage Canada to pursue oil deals with China instead of the United States and cede a massive chunk of North American oil assets to the communist nation.
Now, with China’s state-run oil company CNOOC poised to cut a $15.1 billion deal–the largest ever foreign acquisition for a Chinese company–with Canadian oil company Nexen, Sen. Charles Schumer (D-NY) and [...]
Cnooc Ltd. (883) agreed to pay $15.1billion in cash to acquire Canada’s Nexen Inc. (NXY) in the biggest overseas acquisition by a Chinese company.
China’s largest offshore oil and gas explorer is paying $27.50 for each common share, a premium of 61 percent to Calgary-based Nexen’s closing price on July 20, according to its statement to the Hong Kong stock exchange today. Nexen’s board recommended the deal to its shareholders.
by Gregor Macdonald, CM
There’s been a lot of excitement in the past year over the rise of North American oil production and the promise of increased oil production across the whole of the Americas in the years to come. National security experts and other geo-political observers have waxed poetic at the thought of this emerging, hemispheric strength in energy supply.
What’s less discussed, however, is the negligible effect this supply swing is [...]
Drill Baby Drill, Redux
Published: March 4, 2012
It’s campaign season and the pandering about gas prices is in full swing. Hardly a day goes by that a Republican politician does not throw facts to the wind and claim that rising costs at the pump are the result of President Obama’s decisions to block the Keystone XL pipeline and impose sensible environmental regulations and modest restrictions on offshore drilling.
Next, of course, comes [...]
Equal Time Bashing — Little Neuter
Barack Obama (aka. Hopey-Changey) is richly deserving of the bashing I gave him yesterday. But I felt a little guilty because I have not bothered to bash any of the Republican candidates for president. The reason is simple. If we’re talking about the leading candidates (at this point, not counting Buddy Roemer), people like Willard Romney and Newt Gingrich, who I have referred to privately as “Little Neuter” [...]
WASHINGTON | Thu Nov 10, 2011 1:02pm EST
(Reuters) – The Obama administration plans to announce on Thursday it will explore a new route for a Canada-to-Texas oil pipeline, delaying a final approval beyond the 2012 U.S. election, sources briefed on the matter said.
The decision would be a victory for environmentalists, many of whom oppose the pipeline, and a setback for TransCanada Corp, whose $7 billion Keystone XL project is seen as the [...]
In what can only be described in the most astounding of terms, the Kremlin is reporting that the world’s largest corporation, American-based Exxon Mobil, has signed a deal with Russia allowing it to flee the United States in exchange for trading its vast oil and gas reserves in Texas and the Gulf of Mexico and gaining for itself exclusive drilling rights in the vast untapped regions of the Russian Arctic.
1) Fine line between slowdown and stall
“The world economy appears headed for several months of sub-par growth, and there is no clear source of strength to lead it back to health.
After a week filled with disappointing economic data, the debate is no longer over whether the economy has hit a soft patch but how long it will last.
Friday’s poor U.S. employment figures suggest demand will remain [...]
by Jackson Andrew
$20+Billion in OIL tax breaks to SHORTCHANGE AMERICA -THANKS CHENEY!
Deepwater Horizon set off the worst oil spill in History while flying the flag of the Marshall Islands so TRANSOCEAN could AVOID TAXES LIKE IT DID IN 1999 with CAYMAN and 2008 with SWITZERLAND! BP also reaps massive tax benefits (70% write-off) from leasing the rig of $225,000/day or $82 Million/year.
American OIL EXTRACTION IS THE MOST GOVERNMENT SUBSIDIZED IN [...]