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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

BHP is selling its dirty oil and gas assets, but hold the applause

Aug 22, 2021 01:39 am UTC| Business

When BHP announced it would sell its stake in its oil and gas business to Woodside Petroleum to form a merged oil and gas business, it appeared welcome news. A big miner finally takes climate change seriously. But...

Oil in Global Economy Series

BHP's offloading of oil and gas assets shows the global market has turned on fossil fuels

Aug 22, 2021 01:23 am UTC| Business

The announcement by BHP, the worlds second-largest mining company, that it will shift its oil and gas assets into a joint venture with Australian outfit Woodside is a clear indication the Big Australian is getting out of...

Oil in Global Economy Series

WTI inches closer towards $75 mark, gains over 1.75% ahead of OPEC meeting

Jul 01, 2021 10:47 am UTC| Technicals

USOIL chart - Trading View U.S. West Texas Intermediate was trading 1.73% higher on the day at $74.78 at around 10:40 GMT. Oil prices remain buoyed after data Wednesday showed U.S. crude stockpiles fell 6.7 million...

Oil in Global Economy Series

WTI extends losses after doji formation in the previous session, bears eye 200H MA at $67.95

Jun 08, 2021 12:15 pm UTC| Technicals Economy

USOIL chart - Trading View West Texas Intermediate (WTI) crude is extending declines from multi-month highs at $69.97 after doji formation in the previous session. WTI was trading 0.93% lower on the day at $68.61 at...

Oil in Global Economy Series

Australia's economy can withstand the proposed European Union carbon tariff — here's what we find

Apr 23, 2021 11:41 am UTC| Economy

The European Union has committed to very significant emission cuts 55% on 1990 levels by 2030, and zero net emissions by 2050. To help it get there without too much disruption, the president of the European Commission...

Oil in Global Economy Series

Oil: why higher prices will complicate the energy transition

Mar 22, 2021 13:34 pm UTC| Economy

The oil price is on a rollercoaster. Having crashed into negative territory just last April, the price of Brent crude climbed all the way to US$70 (50) earlier in March. It has since slid below US$64. So where is it...

Oil in Global Economy Series

The oil industry says it might support a carbon tax – here's why that could be good for producers and the public alike

Mar 08, 2021 07:43 am UTC| Economy

The oil industrys lobbying arm, the American Petroleum Institute, suggested in a new draft statement that it might support Congress putting a price on carbon emissions to combat climate change, even though oil and gas are...

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Economy

S. Korea’s 'Anti-Google' law reportedly not effective

South Korea was the first country to pass a law to stop Google and Apple from forcing developers and users of their app stores to use their payment systems. The countrys Anti-Google law was approved, and this gave users...

Samsung SDI, Stellantis sign joint venture deal for electric vehicle battery production

Samsung SDI Co. Ltd. and Stellantis N.V. have recently signed a deal to build a battery plant and produce batteries for electric vehicles. The facility is set to be built in the United States. The South Korean battery...

Coinbase inks deal to become exclusive cryptocurrency platform for NBA, WNBA, USA Basketball

Nasdaq-listed cryptocurrency exchange Coinbase has inked a multi-year partnership with the National Basketball Association (NBA) to be its exclusive cryptocurrency platform partner. The deal by Coinbase also applies...

S. Korea’s largest offshore wind farm exhibits low 22% capacity utilization rate

South Koreas largest offshore wind farm is exhibiting a low capacity utilization rate at 22 percent due to low wind velocity averaging at only 6.03 meters per second last year. This is lower than the 7 meters per second...

Politics

Joe Biden urged by Michigan business groups to reconsider vaccine mandate

US President Joe Biden continues to promote getting vaccinated for COVID-19, especially as more demographics are now allowed to get the shot. Business groups based in Michigan have recently urged the US leader to...

North Korea fires another 'unidentified projectile' into the sea

North Koreas ongoing military activities have become a cause for concern amongst other nations as tensions still remain regarding its nuclear program and recent test launches. Seoul has recently confirmed that the isolated...

World War 3: Russia says Ukraine joining NATO 'a red line' as tensions remain

The long-running tensions between Ukraine and Russia could potentially spark another world war. Moscow recently weighed in on the possibility of Ukraine joining the NATO alliance, warning against a move to do so. Fears...

Kamala Harris pays tribute to Colin Powell

Top military general and former US Secretary of State Colin Powell passed away this week. Vice President Kamala Harris paid tribute to Powell during her visit to Nevada, touching on the late generals accomplishments and...

Science

Owls used in helping California vineyards get rid of rodents

A Humboldt State University team is attempting to prove that owls can be an effective eco-friendly option at protecting grapes from rodent attacks. Graduate students at the universitys Department of Wildlife under...

S. Korean researchers develop process that uses agri-waste to produce biofuels, plastics

The Korea Institute of Energy Research (KIER) had developed an enzymatic process that uses agricultural waste to produce the 4-hydroxy valeric acid--an ingredient for biofuels and plastics. The KIERs enzymatic process...

France probes Nestlé, 100 other firms over bisphenol-A use

The French government is investigating 101 companies, including Nestlé, for not disclosing their use of bisphenol-A in food packaging. In its statement of objections, Frances competition authority accused the 101...

Kansai found to have more genetically predisposed coffee lovers than elsewhere in Japan

Tokyo-based genome data analysis firm Euglena found that those with rs671 genotypes of ALDH2 are more predisposed to liking coffee and more prevalent in people from the Kansai area than other parts of Japan. Euglena...

S. Korean researchers develop eco-friendly fertilizer tech using greenhouse gases

A Kyung Hee University research team had developed a new eco-friendly technology that can turn methanol generated in livestock and agricultural areas into a hormone that promotes plant growth and rooting. The technology...

Technology

Valve updates ‘Half-Life 2’ for Steam Deck’s arrival

In a few months, Valves new portable gaming device called Steam Deck will enter the market to give fans a new way to access their favorite PC games. It appears that the companys preparations for the new hardwares launch...

‘Microsoft Flight Simulator’ is finally getting a military jet

Developers just announced that the Microsoft Flight Simulator is getting a Game of the Year edition launching next month. Aside from new features, the latest version of the game will also come with one of the most...

Instagram uploads via desktop browsers will be available on October 21

Instagram users have been able to view their profiles and pages they follow through the social networks desktop browser version for some time now. Creating new posts, however, has been restricted to the Instagram app....

CD Projekt says ‘The Witcher 3’ PS5 and Xbox Series X/S won’t launch this week

The Witcher 3 received a new rating for the PS5 and Xbox Series X/S consoles, starting a new round of speculations that its next-generation upgrade could be released soon. However, CD Projekt Red quickly dismissed...

Google guarantees Pixel 6 Android version updates until 2024 only

The launch of the Pixel 6 series proved that Google is coming back as one of the frontrunners in the smartphone market. However, the company can only guarantee that these devices will get Android version updates for the...
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