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Iraqi parliament calling to ditch US dollar for oil trade
Iraqi parliament calling to ditch US dollar for oil trade Washington has exercised strict control over Iraqi oil revenues for the past two decades (Photo credit: INA) The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US […]
Dominoes: After NYCB, Shares Of Japanese Bank Implode On Massive US CRE Writedown
Dominoes: After NYCB, Shares Of Japanese Bank Implode On Massive US CRE Writedown Following a profit warning from New York Community Bancorp on Wednesday, partially attributed to turmoil in the commercial real estate sector, Japan’s Aozora Bank Ltd. slashed the value of some of its US office tower loans by more than 50%, according to Bloomberg. New York […]
Mess In The West: ‘Army Of God’ Convoy Heads To US Border While EU Farmers Block Cities
Mess In The West: ‘Army Of God’ Convoy Heads To US Border While EU Farmers Block Cities In the US, a convoy of truckers, calling themselves “God’s Army,” is preparing to embark on a journey from several locations across the Lower 48 to the southern border as tensions soar between Texas and the Biden administration. Meanwhile […]
Draining America First—The Beginning of the End for Shale Gas
Draining America First—The Beginning of the End for Shale Gas The United States is the biggest producer of natural gas in the world and recently became the largest exporter of LNG. The industry is scrambling to build LNG (liquefied natural gas) export terminals as fast as permitting and funding will allow. This couldn’t come at a worse time. […]
‘Playground of choice’: Iran mobilises to drive US troops out of Iraq
‘Playground of choice’: Iran mobilises to drive US troops out of Iraq The US has the cudgel of the American dollar to prevent its expulsion from Iraq, but will the Biden administration use it? When Iraqi Prime Minister Mohammed al-Sudani arrived in New York City in September for the UN General Assembly, a delicate truce […]
Maersk Warns “Significant Disruptions To Global Shipping Network” As Red Sea Attacks Persist
Maersk Warns “Significant Disruptions To Global Shipping Network” As Red Sea Attacks Persist President Biden’s second week of military strikes against Iran-backed Houthi anti-ship missile bases and continued attacks on commercial vessels in the Red Sea by the rebels have raised serious concerns about supply bottlenecks jeopardizing global growth. On Thursday, top container shipper AP Moller-Maersk sent […]
Eagle Ford Shale–A Preview of Permian Decline
Eagle Ford Shale–A Preview of Permian Decline The Eagle Ford Shale was the hottest play in the United States a little more than a decade ago. In mid-2012, there were twice as many rigs drilling horizontal wells in the Eagle Ford as there were in the Permian basin. Figure 1. Map showing U.S. shale plays. […]
The End of the Colombian Age
The End of the Colombian Age Dusk over Oceania. Photo by Johannes Plenio on Unsplash We are witnessing the end of an era in history spanning half a millennium; the end of Western dominance in geopolitics. For those who understand the role of resources and energy in economics, culture and politics, it comes as no surprise that […]
Will The Texas Power Grid Survive Next Week’s Polar Vortex?
Will The Texas Power Grid Survive Next Week’s Polar Vortex? The National Weather Service’s Climate Prediction Center forecasts extreme cold weather “across the heart of the country this weekend and is expected to continue into next week.” We previewed this cold blast in a note titled “Gobsmackingly Bananas”: Weather Models Predict Polar Vortex Invasion Into US. […]
Iran Warns Against US ‘Adventurism’ After Parking Cruise Missile-Armed Warship In Red Sea
Iran Warns Against US ‘Adventurism’ After Parking Cruise Missile-Armed Warship In Red Sea The Red Sea continues to grow busy with the presence of naval assets, as the West and its allies attempt to keep international shipping lanes open despite the threat of Houthi missiles and drones launched from Yemen. This has lately included nations such as […]
More Golden (and Black-Gold) Proof: The Dollar is Totally Screwed
More Golden (and Black-Gold) Proof: The Dollar is Totally Screwed Ever since day-one of the predictably disastrous and politically myopic insanity of weaponizing the world reserve currency against a major power like Russia, we warned that the USD had reached an historical turning point of slow demise and increasing de-dollarization. We also warned that this would be […]
US Debt Hits A Record $34.001 Trillion
US Debt Hits A Record $34.001 Trillion The US Treasury has a morbid habit of revealing big, round numbers of debt around major calendar milestones, and the new 2024 year was no different because according to the latest Treasury Daily Statement published after the close today and reflecting the US Treasury’s financial statements as of […]
