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Tag Archives: oil
Goldman Sachs downgrades oil forecast, says $20 per barrel is possible
Goldman Sachs downgrades oil forecast, says $20 per barrel is possible Investment bank predicts average price of $45 a barrel next year, but lower isn’t implausible Goldman Sachs has bad news for anyone banking on the oil price rebounding any time soon, saying in a report that the price of crude could fall to $20 […]
Oil Suddenly Gets Ugly in Mexico
Oil Suddenly Gets Ugly in Mexico Mexico’s energy revolution could prove to be a bitter pill for the vast rump of the Mexican population, who stand to lose out on billions of dollars of annual state funds provided by the newly privatized but financially crippled oil company Pemex. But where there are losers, there are […]
The Decline of Oil: Head-Fake or New Normal?
The Decline of Oil: Head-Fake or New Normal? When production does finally collapse, that will set up the “nobody saw this coming” ramp in the price of oil. In May 2008 I proposed the Oil “Head-Fake” Scenario in which global recession pushes oil demand down as oil exporters pump their maximum production in a futile attempt […]
Mede-Jean, Not Medellin
Mede-Jean, Not Medellin Driving the back streets of Medellin a few weeks ago I found it interesting to see the various little pockets to the city. In the poor parts of town I noticed on a couple of occasions taxi drives running their vehicles on empty. I’ve seen this before in countries where there is […]
Canada Clears Way for Ecuadorean Case Against Chevron Over ‘Amazon Chernobyl’
Canada Clears Way for Ecuadorean Case Against Chevron Over ‘Amazon Chernobyl’ A protestor shows his black painted hand as he carries an Ecuador flag to protest against Chevron and the oil contamination in Ecuador’s Amazon region during a joined global demonstration in Madrid, Spain, in 2013.. (Andres Kudacki / AP) Canada’s Supreme Court ruled Friday that […]
The “Peña Nieto Bottom”
The “Peña Nieto Bottom” When Enrique Peña Nieto’s government pushed a historic energy reform bill through the Mexican congress in 2013, it was hoped that it would serve not only to privatize but also modernize Mexico’s state-owned Pemex and allow it to compete with giants like Exxon. However, the one thing the government seemingly hadn’t […]
It Gets Even Uglier In Canada
It Gets Even Uglier In Canada The Province of Alberta, the epicenter of the Canadian oil bust, may be sliding into something much worse than a plain-vanilla recession. And it’s not exactly perking up the rest of Canada. Layoffs are already cascading through the oil patch, as companies are retrenching and adjusting to the new […]
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks Last weekend, we explained why it really all comes down to the death of the petrodollar. China’s transition to a new currency regime was supposed to represent a move towards a greater role for the market in determining the exchange rate for the yuan. […]
2 days of gains push oil up 17%, TSX up 3.6%
2 days of gains push oil up 17%, TSX up 3.6% Global stocks calmer after a week of volatility set off by doubts about China’s growth After a week with wild swings in the values of stocks and commodities, oil futures ended up gaining 17 per cent in two days and the TSX was up […]
China share plunge drives selling in Asian, European markets
China share plunge drives selling in Asian, European markets Benchmark Shanghai Composite Index is down 38 per cent from its June 12 peak World stock markets plunged on Monday after China’s main index sank 8.5 per cent — its biggest drop since the early days of the global financial crisis — amid deepening fears over […]
Commodity Markets In Distress As Oil Rout Continues
Commodity Markets In Distress As Oil Rout Continues One hundred and eleven years after the birth of Count Basie, and the ongoing rout in the crude complex is in full swing today. Downhill one-way traffic continues amid headlines such as ‘No End in Sight for Oil Glut‘ and ‘Oil Poised for Longest Weekly Losing Streak Since 1986 […]
Why Oil As An Election Issue Is Bad News For Canada
Why Oil As An Election Issue Is Bad News For Canada When oil becomes an election issue it is rarely good news. After Joe Clark’s minority PC government was defeated in 1979 over gasoline taxes in a budget, the subsequent Liberal administration introduced the National Energy Program. In 2008, Ed Stelmach’s Alberta PCs campaigned on […]
What is the price of oil telling us?
What is the price of oil telling us? Market fundamentalists tell us that prices convey information. Yet, while our barbers and hairdressers might be able to give us an extended account of why their prices have changed in the last few years, commodities such as oil–which reached a six-year low last week–stand mute. To fill […]
Lawrence Wilkerson: Travails of Empire – Oil, Debt, Gold and the Imperial Dollar
Lawrence Wilkerson: Travails of Empire – Oil, Debt, Gold and the Imperial Dollar “We are imperial, and we are in decline… People are losing confidence in the Empire.” This is the key theme of Larry Wilkerson’s presentation. He never really questions whether empire is good or bad, sustainable or not, and at what costs. At […]
US-NATO Military Deployments, Economic Warfare, Goldman Sachs and the Next Financial Meltdown
US-NATO Military Deployments, Economic Warfare, Goldman Sachs and the Next Financial Meltdown Is There a Relationship? What is the relationship between war in a military theater and “economic warfare”? An act of war is invariably an economic undertaking which supports dominant corporate interests. The conduct of US-NATO military operations is carried out on behalf of powerful financial […]
