United States President Donald Trump leaves office in three weeks. Anything could happen before then. Stakeholders are taking positions around the strategically-important Strait of Hormuz, the only sea passage for crude oil shipped from the Persian Gulf to the open ocean. In 2018, some 21 million barrels per day (bpd), or almost 20 per cent…
The rush to monetize oil and gas assets gathers momentum as major debt problems rise for many oil-producing countries
Climate change is at the top of U.S. president-elect Joe Biden’s priority list. By nominating a person of the stature of former secretary of state John Kerry as the special presidential envoy on climate change, Biden has spelled out his intentions. The message is getting loud and clear to stakeholders. Consequently, the rush to monetize…
Oil-dependent economies are in a real quandary. Sliding markets, lowering demand and strong output capacities are set to hit the single-product, oil-rich economies of the Middle East, the International Monetary Fund (IMF) said in a recent report. These oil-rich Persian Gulf states are now expected to see a six per cent real gross domestic product…
Several trustworthy and reputable humanitarian organizations are working diligently, providing desperately-needed assistance
The cataclysmic explosion that shook Beirut to its foundations in early August, leaving 157 people dead, 5,000 injured, and 300,000 homeless, was the coup de grâce for a country that has been bleeding for years under crushing burdens. The explosion seems like the denouement to the unfolding tragedy of Lebanon, a country where high unemployment,…
Despite the recent unprecedented output cuts by oil-producing countries, crude continues to trade around $40 a barrel
Global economies are in distress. In the United States, the world’s largest economy, jobless claims rose last week for the first time since March. With measures to contain the COVID-19 virus keeping drivers off the road, recent data shows gasoline demand edging even lower. In South Korea, a large crude oil consumer, the economy is…
Trudeau insinuated that if you support the rights of Palestinians, you must be anti-Semitic
I like to think I’m not easily offended, but a recent speech by Justin Trudeau at the Yom Hashoah Virtual Holocaust Remembrance Day Commemoration pierced my spirit. In this ceremony, Holocaust survivors and their descendants not only remembered the crimes committed against the Jewish people, they celebrated who they are and the beautiful traditions that…
He needs to do something to boost his electoral fortunes, with the presidential election looming in November
Is American President Donald Trump beating war drums in the Middle East to prop up the ailing crude oil industry? After having failed to turn around the oil markets by engineering an unprecedented output cut deal between Saudi Arabia and Russia, Trump seems to be looking desperately at other options. The crude oil industry is…
When opportunities to engage in economic activity are open to all, not just the privileged classes, prosperity and opportunity abound
By Miguel Cervantes and Tanja Porčnik The Fraser Institute While tensions in the Middle East rise daily, there’s still hope for the region to liberalize and grow more prosperous. Economic liberalism in the Persian Gulf region would help unleash the effort and creativity of the whole population – not just a few at the top.…
As Trump upsets the world order, many countries may feel they have no choice but to develop nuclear weapons
What will the world look like in 50 years – or even 10? One of the rather unsettling possibilities is that the future will have to accommodate a Germany with nuclear arms. For the short period after the Second World War that the United States was the only nuclear power, the world was stable. But…
I have to do all I can for peace and truth, even posting my Middle-Aged Middle Eastern Guy rap on YouTube
Sometimes you need to risk appearing foolish to speak a very deep truth. As a person of Middle Eastern ethnicity, I’ve long felt a tie to all peoples of that area of the world. As I watch the news, I see a horrible conflict between the Christians, Muslims and Jews of this region. Perhaps it’s…