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America’s Vampire Aristocracy
America’s Vampire Aristocracy On January 2nd, America’s NBC News bannered “Arab Spring Cleric Nimr al-Nimr Among 47 Executed by Saudi Arabia,” and, one-third of the way into their report, showed this tweet: “Saudi execution of Nimr al-Nimr along w/ al Qaeda members is straight from Assad’s playbook – lumping nonviolent activists with terrorists. — DavidKenner (@DavidKenner) January […]
Sunni & Shia Tensions Rise in Middle East
Sunni & Shia Tensions Rise in Middle East Protesters stormed and ransacked Saudi Arabia’s embassy on Sunday after gathering to denounce the kingdom for executing a prominent Shia cleric. They stormed the embassy, smashed furniture, setting the embassy on fire, and threw papers from the roof. They were eventually cleared away by the police, Iran’s ISNA news agency reported. On Saturday, Saudi […]
Protesters Storm, Set Fire To Saudi Embassy In Iran
Protesters Storm, Set Fire To Saudi Embassy In Iran Earlier today, Saudi Arabia announced it had staged its largest mass execution in 25 years. 43 al-Qaeda conspirators were killed along with 4 Shiites accused of shooting policemen in the anti-government protests which broke out during the Arab Spring. Among the Shiites killed: prominent cleric Nimr al-Nimr. His death […]
Protesters Set The Streets On Fire In Bahrain After Saudis Kill Top Shiite Cleric
Protesters Set The Streets On Fire In Bahrain After Saudis Kill Top Shiite Cleric Earlier today, we documented Saudi Arabia’s largest mass execution in 25 years. In what was billed as an effort to rid the world of 47 “terrorists”, the Saudis killed dozens of al-Qaeda affiliates and four Shiites who stood accused of shooting policemen in […]
The New Cartel Running the Oil Sector
The New Cartel Running the Oil Sector As oil prices wallow near multi-year lows, it’s becoming increasingly clear that the new cartel controlling oil prices is not OPEC but world credit markets. From Saudi Arabia’s record $100 billion deficit to shale oil’s continuing reliance on cheap credit funding, it’s clear that no major oil producer or company in the […]
Saudis Boost Gas Prices by 40%, Dismantle Welfare State To Wage War With U.S. Shale
Saudis Boost Gas Prices by 40%, Dismantle Welfare State To Wage War With U.S. Shale Earlier today, we parsed Saudi Arabia’s budget report in order to determine if the kingdom’s fiscal nightmare was better or worse than market expectations. As it turns out, it was better. This year’s deficit is expected to come in at around 15-16% […]
Bank of Montreal Asks If “Oil Prices Could Collapse To $20”; Answers: “Yes”
Bank of Montreal Asks If “Oil Prices Could Collapse To $20”; Answers: “Yes” When looking at the price of oil in 2015, Canada’s Bank of Montreal admits it was wrong. Very, very wrong. In our “2015 Year Ahead” report we laid out three plausible scenarios: (1) our base case, which forecast Brent crude oil prices […]
The Mystery Of Dubai’s Vaporized Gold: The Plot Thickens
The Mystery Of Dubai’s Vaporized Gold: The Plot Thickens Earlier this week, we told a fascinating story about an unprecedented, multi-year smuggling ring involving Turkey, Iran, and Dubai (as well as China, Russia and countless other nations) which saw corruption reaching to the very top of the political and financial establishment: from president Erdogan in Turkey, to […]
Why the oil price slump hasn’t kickstarted the global economy
Why the oil price slump hasn’t kickstarted the global economy There has only been a modest boost to global growth despite the oil price plummeting to as low as $35 a barrel. But as prices fall so the risks to producers rise An oil pump at sunset in the desert oilfields of Sakhir, Bahrain. As […]
Lower Oil Prices Are Shaking the World
Lower Oil Prices Are Shaking the World The long-term effects will echo for a decade or more. Oil prices fell by over half from June 2014 to January 2015 (Brent: $110 to $50), then another one-third since (to $35). Natural gas and coal prices have also plunged, partially due to the same forces but also from […]
Oil Bankruptcies Hit Highest Level Since Crisis And There’s “More To Come”, Fed Warns
Oil Bankruptcies Hit Highest Level Since Crisis And There’s “More To Come”, Fed Warns “Two things become clear in an analysis of the financial health of US hydrocarbon production: 1) the sector is not at all homogenous, exhibiting a range of financial health; 2) some of the sector indeed looks exposed to distress [and] lifelines […]
The Coming Saudi Crack-up?
The Coming Saudi Crack-up? Exclusive: President Obama, like generations of Western leaders, has coddled the oil-rich Saudi monarchy by tolerating its reactionary politics, its financing of radical Islam and its military support for Sunni jihadist terrorism. But the spoiled Saudi leaders may finally be going too far, as Daniel Lazare describes. Is the Saudi monarchy coming apart at […]
Egypt budget and current account deficits – can Saudi Arabia bail out Cairo?
Egypt budget and current account deficits – can Saudi Arabia bail out Cairo? Arab News reports: KSA pledges SR 30bn Egypt aid 17/12/2015 “JEDDAH: Custodian of the Two Holy Mosques King Salman has ordered that Saudi Arabia’s aid and investment package to Egypt should be increased to SR30 billion (US$ 8 bn) in the next […]
