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The Bulletin: August 1-7, 2024
The Bulletin: August 1-7, 2024 Introducing The Bulletin, a collation of recent articles focusing upon those predicaments flowing from the ongoing collapse of our global, industrialised complex society. Middle East On The Brink: Goldman Heads Discuss ‘Interconnected Realities’ Of Markets & Geopolitics Amid Looming Iran Strike | ZeroHedge Russia’s Arctic Energy Expansion A Geopolitical And […]
Russia Discovers Massive Oil and Gas Reserves in British Antarctic Territory
Russia Discovers Massive Oil and Gas Reserves in British Antarctic Territory Russia’s Rosgeo uncovered oil and gas reserves in British Antarctic territory, estimated at around 511 billion barrels. The discovery poses environmental risks and challenges the 1959 Antarctic Treaty, which prohibits oil developments in the region. Geopolitical tensions rise as Russia’s activities in Antarctica are […]
Future Gas Strategy is a betrayal of promised Climate and Environmental Policies
Future Gas Strategy is a betrayal of promised Climate and Environmental Policies Climate scientists reveal data that earth’s heating is accelerating, heat extremes are increasing and 1.5C has been breached faster than forecast. We are failing to treat climate change as the single greatest threat to humanity. At the same time our government has announced […]
Energy Aware
Energy Aware The United States is energy independent. Banning oil exports would lower oil prices. Strategic Petroleum Reserve releases lowered gasoline prices. There is a shortage of refinery capacity in the U.S. The cancelation of the Keystone XL Pipeline has limited U.S. oil supply and contributed to higher energy prices. These popular memes are wrong. […]
German government furious as ‘friendly countries’ charge ‘astronomical prices’ for gas
German government furious as ‘friendly countries’ charge ‘astronomical prices’ for gas Germany’s energy situation is dire, and the Nord Stream pipeline explosions have only worsened its geopolitical and economic outlook German Economy and Climate Minister Robert Habeck waits for the arrival of the Prime Minister of the Netherlands Mark Rutte at the foyer of the […]
Russian Gas Stops Flowing To Italy After ‘Problem’ In Austria
Russian Gas Stops Flowing To Italy After ‘Problem’ In Austria Russian energy giant Gazprom PJSC suspended natural gas deliveries to Eni SpA, Italy’s largest oil company, on Saturday, reported Bloomberg. “Gazprom informed that it is not able to confirm the gas volumes requested for today, stating that it’s not possible to supply gas through Austria. Therefore, today’s Russian […]
Apparent Sabotage Disables Nord Stream 1 and 2, Cutting Off All Direct Gas Supply to Germany from Russia
Apparent Sabotage Disables Nord Stream 1 and 2, Cutting Off All Direct Gas Supply to Germany from Russia Anonymous German officials appear to acknowledge the strong possibility of American or NATO involvement Yesterday evening, pressure in the undersea Nord Stream 2 pipeline suddenly collapsed, and gas could be seen bubbling to the surface of the Baltic […]
European Natural Gas Prices Are 6 Times Higher Than Last Year, And This Is Sparking Widespread Civil Unrest All Over Europe
European Natural Gas Prices Are 6 Times Higher Than Last Year, And This Is Sparking Widespread Civil Unrest All Over Europe This is going to be a bitterly cold winter for a whole lot of people. In particular, things are likely to get really uncomfortable in Europe. Soaring energy prices and concern about potential shortages […]
IEA Chief: Europe Must Cut Gas Usage 20% To Survive Winter
IEA Chief: Europe Must Cut Gas Usage 20% To Survive Winter After calling on all member states to reduce gas consumption by 15% in the face of the threat of a complete Russian gas cutoff, the IEA says the European Union will need to cut even more in order to get through the winter. “Even […]
Germany Elevates Risk Level In Its “National Gas Emergency Plan” To Second-Highest “Alarm” Phase
Germany Elevates Risk Level In Its “National Gas Emergency Plan” To Second-Highest “Alarm” Phase European natural gas and power prices surged after Germany triggered the “alarm stage” of its NatGas-emergency plan amid reductions in supplies from Russia, according to Reuters. German Economy Minister Robert Habeck said Europe’s largest economy is in a severe energy crisis. He warned Germany […]
Citi: Soaring Energy Bills Raise Chances Of Windfall Taxes In Europe
Citi: Soaring Energy Bills Raise Chances Of Windfall Taxes In Europe Gas and electricity bills in Europe could jump to 4.5 percent of household disposable income in 2023. Rising utility bills raise pressure on politicians to implement windfall tax. Rising energy commodity prices weigh most on Eastern European countries. The higher the energy bills in […]
Cutting Off Russian Gas Would Be “Catastrophic”, German Industry President Warns
Cutting Off Russian Gas Would Be “Catastrophic”, German Industry President Warns As we detailed yesterday, almost two months after Europe rushed to declare it would impose unprecedented sanctions on Russia in response to Putin’s invasion of Ukraine with no regard for how such sanctions would boomerang and cripple its own economies, the old continent which […]
Europe May Face LNG Crisis This Winter
Europe May Face LNG Crisis This Winter Rush to wean off Russian gas has made European consumers highly vulnerable to LNG price shocks. Global LNG demand outstrips supply in 2022. New LNG projects are unlikely to provide relief until 2024. A liquified natural gas (LNG) crisis is brewing for European countries dealing with energy insecurity […]
An Economic ‘Atomic Bomb’: Hungary Threatens EU’s Latest Sanctions Against Russia, Including Oil Embargo
An Economic ‘Atomic Bomb’: Hungary Threatens EU’s Latest Sanctions Against Russia, Including Oil Embargo The European Union’s ban on Russian oil is in jeopardy Friday after Hungary’s Prime Minister Viktor Orban rejected proposals as too costly and too swift for the country to implement, marking a potentially lethal blow to the bloc’s plans to wean […]
The world has a major crude oil problem; expect conflict ahead
The world has a major crude oil problem; expect conflict ahead Media outlets tend to make it sound as if all our economic problems are temporary problems, related to Russia’s invasion of Ukraine. In fact, world crude oil production has been falling behind needed levels since 2019. This problem, by itself, encourages the world economy […]
