Moscow launches opening salvo in defiance of oil price cap

Moscow launches opening salvo in defiance of oil price capCould reduce its daily oil output by as much as seven per cent over the next few weeks Slowly but surely, Russia is unveiling its counter-strategy to the U.S.-led moves on the global energy chessboard. Returning the western ‘favour’ of putting a price cap on its crude oil sales for its Ukraine (mis)adventure, Russia –…

Roadblocks persist to capping Russian crude exports

Roadblocks persist to capping Russian crude exportsThe EU is split on the price to charge for Russian exports There are less than two weeks left, but the decision to cap Russian seaborne crude exports at a ‘certain price level’ still faces significant roadblocks. And the G7 and the European Union have not yet made a final decision as to the price…

The world needs Russian resources

The world needs Russian resourcesThe earlier world leaders acknowledge that fact, the better it will be for the entire world Fatih Birol, the guru of the energy world and executive director of the International Energy Agency (IEA), recently told Euronews that Russia will (ultimately) lose the energy battle it is waging against the West. But take that conclusion with…

European Union wrong to endorse ‘fossil fuel non-proliferation treaty’

The world requires abundant, reliable, affordable energy to thrive

European Union wrong to endorse ‘fossil fuel non-proliferation treaty’The European Parliament is endorsing a dangerous and misguided “fossil fuel non-proliferation treaty” that would cause harm to people around the world. The political forum is recommending that European Union member states phase out fossil fuels as soon as possible and stop all new investments in fossil fuel extraction. The " treaty " implies that…

The coming energy crisis

How did things get so bad, so fast?

The coming energy crisisBy Stewart Muir and Margareta Dovgal It’s been obvious for months that a global energy crisis was coming. Then last Monday, just when we thought things couldn’t get any worse, the chief executive of Shell predicted that Europe is headed for a multi-winter energy crisis, with consequences that cascade around the world. The situation is…

Punishing Russia has upended global economics

And we can blame political meddling

Punishing Russia has upended global economicsThe crude oil world has inched into a crisis mode. The world faces a “much bigger” energy crisis than the one in the 1970s. Fatih Birol, the executive director of the International Energy Agency (IEA), told the German daily Der Spiegel in an interview last Tuesday. The IEA, the Organization for Economic Co-operation and Development…

As oil prices rise, global economic uncertainty grows

And OPEC is in no mood to open taps to fill in any gaps created by the absence of Russian crude

As oil prices rise, global economic uncertainty growsThe oil markets are likely to face another round of supply disruptions. Most indicators point to a bullish trend in the near future. After recently announcing the release of over 180 million barrels of crude oil from its strategic reserves (SPR) over the next six months to cool down the markets, the United States government…

OPEC is in a defiant mood and the world is paying the price

Full European Union ban on Russian oil could have unintended economic consequences for the West

OPEC is in a defiant mood and the world is paying the priceThe war in Ukraine is transforming global geopolitics and crude oil dynamics. On the geopolitical front, the United States has relentlessly rallied its allies against Russia. The Russian energy sector has still not been directly impacted by the sanctions. But the repercussions are apparent, even as the world is finding it hard to replace Russian…

Canada can still help provide Europe with energy security

Access to stable and affordable energy from Canada is important to the Free World

Canada can still help provide Europe with energy securityCanada’s chattering classes – often more accustomed to playing the ineffectual dovish role – are rushing to prove their outrage over Russia’s invasion of Ukraine and demonstrate their resolve to make Russian President Vladimir Putin pay. However, these are often the same people who opposed Canadian gas pipelines, which could help fellow NATO countries. The…

Thunberg has world leaders in the palm of her hand

World leaders are doing everything Thunberg and people like her say, without batting an eye

Thunberg has world leaders in the palm of her handIt seems everything is about justice these days. As I drove home from the store recently, I saw a sign for the elections here in New York from the local Democratic Party, promising “equity, equality, and justice for all.” Beyond the obvious concerns any sane person should have about a promise of “equity,” the sign…
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