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Oil in Global Economy Series

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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

Oil in Global Economy Series: OPEC not considering deeper cuts despite price decline

Jun 30, 2017 07:23 am UTC| Commentary

Despite the steady decline in the price of oil since the OPEC members and participating non-OPEC members ratified an extension of the OPEC deal for nine months in May to reduce global supply by 1.76 million barrels per...

Oil in Global Economy Series

Oil in Global Economy Series: Oil price continues drift towards long-term average

Jun 29, 2017 06:43 am UTC| Commentary

The price of oil is in recovery mode this week, after five weeks of consecutive decline. The North American benchmark WTI is currently trading at 445 per barrel and the North Sea benchmark Brent at $2.5 per barrel premium...

Oil in Global Economy Series

Oil in Global Economy Series: Production costs of major global producers

Jun 29, 2017 05:35 am UTC| Commentary

In commodities space, there is a saying that lower price itself is a cure for the lower price. What it basically means is that if the price drops to a point which doesnt incentivize producers to keep mining or pumping,...

Oil in Global Economy Series

It's nonsense to say fracking can be made safe, whatever guidelines we come up with

Jun 29, 2017 02:59 am UTC| Insights & Views

Can fracking be safe? A new study suggests how fracking the process of extracting oil and gas trapped in rocks deep underground by blasting water into the rock at high pressure can be conducted without causing...

Oil in Global Economy Series

Is energy 'dominance' the right goal for US policy?

Jun 28, 2017 16:02 pm UTC| Insights & Views Politics

In recent weeks, a new energy buzzword has taken flight from Washington, D.C., making stops in Alaska, North Dakota, Texas, Utah and more: American energy dominance. Taking a cue from a 2016 speech by then-candidate Donald...

Oil in Global Economy Series

Oil in Global Economy Series: Number of active oil rigs in U.S. rises for 23rd consecutive week

Jun 26, 2017 07:21 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for 23 consecutive weeks, raising concerns that the U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now...

Oil in Global Economy Series

Oil in Global Economy Series: A major fallout of OPEC deal

Jun 23, 2017 11:03 am UTC| Commentary

Last year, in November OPEC countries, along with 11 participating non-OPEC countries including Russia agreed to reduce oil production by 1.76 million barrels per day, beginning this year. The initial deal was agreed for...

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Economy

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

Economist Chris Richardson on an ‘ugly’ inflation result and the coming budget

With Jim Chalmerss third budget on May 14, Australians will be looking for some more cost-of-living relief beyond the tax cuts although they have been warned extra measures will be modest. As this weeks consumer price...

Why is the London Stock Exchange losing out to the US

London Stock Exchange (LSE), which can trace its heritage to the coffee houses of the 17th century, is failing. The volume of shares traded is sharply declining, and some UK companies are swiftly moving to the US...

Why Germany ditched nuclear before coal – and why it won’t go back

One year ago, Germany took its last three nuclear power stations offline. When it comes to energy, few events have baffled outsiders more. In the face of climate change, calls to expedite the transition away from fossil...

Politics

Labour can afford to be far more ambitious with its economic policies – voters are on board

To say that the Labour party is flying high in the polls is something of an understatement. But despite its consistent lead against the Tories, the opposition finds itself in a rather odd position: on the cusp of power but...

History for sale: what does South Africa’s struggle heritage mean after 30 years of democracy?

One of my favourite statues is the one of Nelson Mandela at the Sandton City shopping centre in Johannesburg. Larger than life, its oversized bronze shoes shimmer in the evening light, polished by the hands of many...

Sudan: civil war stretches into a second year with no end in sight

In the early hours of April 15 2023, the Rapid Support Forces (RSF) a Sudanese paramilitary force attacked the military airstrip in the town of Merowe and deployed troops across strategic locations in Sudans capital,...

Joe Biden Proposes Record 44.6% Capital Gains Tax in Latest Budget Plan That May Favor Cryptocurrencies

President Joe Biden has proposed raising the capital gains tax to an unprecedented 44.6% in a bold fiscal move, targeting the wealthiest Americans. This hike is part of his 2025 budget proposal to reduce income...

Turkey’s suppression of the Kurdish political movement continues to fuel a deadly armed conflict

The world has 91 democracies and 88 autocracies. Yet 71% of the worlds population (some 5.7 billion people) are living under autocratic rule, a big jump from 48% ten years ago. This trend towards authoritarianism can...

Science

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

Technology

Tesla Clears Regulatory Hurdles for FSD Launch in China with Baidu's Help

Tesla and Baidu have joined forces to tackle Chinas rigorous FSD regulations, ensuring all Tesla operational data is stored in Shanghai, thereby adhering to strict data compliance measures. According to Reuters, a...

Samsung Teams With eSports Icon 'Faker' to Boost Odyssey Sales in China

Samsung Electronics has intensified its efforts in China by aligning with Lee Faker Sang-hyeok and the powerhouse T1 eSports team to promote their Odyssey gaming monitors. The collaboration was highlighted during an...

Ethereum Whales Sell Off 56K Coins, Fueling Fears of Further Price Drops

Whales have shaken the Ethereum market by dumping 56,000 coins, leading to widespread speculation about further price corrections amid the crypto markets broader instability. Impact of Whale Transactions on...

Shiba Inu Faces New Correction, Dips Below Key Support Levels

Shiba Inu (SHIB), the popular meme cryptocurrency, has initiated another correction phase. It dropped below the crucial 26-day EMA and edged towards significant support levels. This downturn reflects a broader hesitance in...

MetaComp and Harvest Global Launch Innovative Bitcoin Spot ETFs in Singapore

In a significant move to expand global investment options, Singapore-based fintech MetaComp has teamed up with Harvest Global Investments to launch innovative bitcoin spot ETFs. This collaboration integrates advanced...