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New Study: Cross-Border Energy Infrastructure Critical To U.S.-Canada Energy Trade, Benefits Consumers On Both Sides Of The Border

New Study: Cross-Border Energy Infrastructure Critical To U.S.-Canada Energy Trade, Benefits Consumers On Both Sides Of The Border

WASHINGTON, April 6, 2021 – The American Petroleum Institute (API) today released a new report examining how growth in cross-border petroleum trade between the United States and Canada has led to the further integration of North American energy markets, delivering economic benefits, lowering consumer energy costs and strengthening energy security on both sides of the border. The analysis, which API Senior Vice President of Policy, Economics and Regulatory Affairs Frank Macchiarola highlighted in remarks before the 2021 Scotiabank CAPP Energy Symposium earlier today, underscores how continued development and maintenance of cross-border energy infrastructure will be critical to sustaining this trade relationship and further integrating North American energy markets.

“The integration of U.S. and Canadian energy markets has been a win-win for both countries, supporting economic growth and lowering energy costs for working families while bolstering North American energy security,” API Senior Vice President of Policy, Economics and Regulatory Affairs Frank Macchiarola said. “None of this would be possible without the cross-border energy infrastructure that enables the safe and efficient transport of these energy resources. Continued development and maintenance of this critical infrastructure is essential to furthering the success and mutual benefits of this important trade relationship.”

U.S. and Canadian petroleum markets are increasingly integrated:

  • U.S.-Canada petroleum liquids trade nearly doubled over the past decade.
  • Petroleum liquids trade represents 10 to 20 percent of total U.S.- Canada trade flow.
  • U.S. crude oil made up 72 percent of Eastern Canada’s crude imports in 2019.
  • Canada supplied 58 percent of US heavy crude oil imports in 2019.

Integration of U.S. and Canadian petroleum markets strengthens the energy security of both countries:

  • Increased imports of Canadian crude oil in tandem with booming domestic production have allowed U.S. refiners to significantly reduce crude oil imports from OPEC 70 percent from 2010 to 2019.

…click on the above link to read the rest of the article…

So Who Wants a Hot War?

Journalists, Learning They Spread a CIA Fraud About Russia, Instantly Embrace a New One

Journalists, Learning They Spread a CIA Fraud About Russia, Instantly Embrace a New One

The most significant Trump-era alliance is between corporate outlets and security state agencies, whose evidence-free claims they unquestioningly disseminate.

A US soldier in Afghanistan CREDIT: GETTY IMAGES

That Russia placed “bounties” on the heads of U.S. soldiers in Afghanistan was one of the most-discussed and consequential news stories of 2020. It was also, as it turns out, one of the most baseless — as the intelligence agencies who spread it through their media spokespeople now admit, largely because the tale has fulfilled and outlived its purpose.

The saga began on July 29, 2020, when The New York Times announced that unnamed “American intelligence officials” have concluded that “a Russian military intelligence unit secretly offered bounties to Taliban-linked militants for killing coalition forces in Afghanistan — including targeting American troops.” The paper called it “a significant and provocative escalation” by Russia. Though no evidence was ever presented to support the CIA’s claims — neither in that original story nor in any reporting since — most U.S. media outlets blindly believed it and spent weeks if not longer treating it as proven, highly significant truth. Leading politicians from both parties similarly used this emotional storyline to advance multiple agendas.

The story appeared — coincidentally or otherwise — just weeks after President Trump announced his plan to withdraw all troops from Afghanistan by the end of 2020. Pro-war members of Congress from both parties and liberal hawks in corporate media spent weeks weaponizing this story to accuse Trump of appeasing Putin by leaving Afghanistan and being too scared to punish the Kremlin. Cable outlets and the op-ed pages of The New York Times and Washington Post endlessly discussed the grave implications of this Russian treachery and debated which severe retaliation was needed…

…click on the above link to read the rest of the article…

Setting the Scene for Global Destruction. Now It’s the Arctic

The U.S. is preparing for war in the Arctic, and the “boiling point” might not be far away, Brian Cloughley writes.

On April 8 the front pages of the main U.S. newspapers noted that President Biden was “open to compromise” and a quick glance prompted optimism that Uncle Joe might be seeing some sense about international developments. He said that “Debate is welcome. Compromise is inevitable. Changes are certain,” which is a deep and important statement that would be immensely heartening if it referred to U.S. relations with China and Russia.

Alas, his words referred to purely domestic affairs, in that the White House was preparing to compromise with the blinkered Republican Party which is intent on defending business interests — and especially those concerned with weapons’ production — at the expense of the average citizen. Joe declared that he is “sick and tired of ordinary people being fleeced,” which is an understandable point of view. But the way he’s heading in foreign policy means that these ordinary people, and everyone else in the U.S. and all round the world, may well be conned, and possibly terminally. They are facing ever-increasing danger of being destroyed, because Joe is backing the sabre-brandishers in their encouragement of confrontation and provocation that could well lead to major war.

Make no mistake : there is going to be no such thing as “limited” war if the U.S.-Nato military alliance continues to goad and antagonise Russia and China. If there is a clash of military forces there will be escalation, and the ensuing conflict will inevitably heighten the risk of nuclear exchanges which would destroy the planet.

…click on the above link to read the rest of the article…

Meditations On US Forces Firing A Howitzer Into The Empty Desert “Just To Say We’re Here”

Meditations On US Forces Firing A Howitzer Into The Empty Desert “Just To Say We’re Here”

I saw a line in a recent New Yorker article about America’s endless wars, and it’s been been rattling around in my head ever since:

“In Syria, McKenzie visited the Green Village, a community of decrepit apartment blocks near a bombed-out oil facility that served as the operational headquarters for the final push to erase the caliphate, in 2019. These days, the only military action there is from U.S. forces firing a 155-millimetre howitzer twice a week into the surrounding desert, at no specific target, ‘just to say we’re here,’ one officer told me.”

U.S. forces firing a 155-millimetre howitzer twice a week into the surrounding desert, at no specific target, “just to say we’re here.”

Tell me that’s not the sexiest line you have ever read in your entire life. The poetical beauty! The ennui! The oh-so-relatable existential ache! Oh God, I need a cigarette.

I mean it just hits on so many different levels. Could you ask for a better snapshot of life within the soulless US war machine than a small cast of Beckettian soldiers, waiting around near a bombed-out oil facility for a Godot who never arrives, firing heavy artillery rounds into the desert twice a week for no reason whatsoever? You just want to hang it in an ornate wooden frame with the caption “YOUR TAX DOLLARS AT WORK, LADIES AND GENTS” and then shove it so far up Tom Cotton’s personal anatomy that it takes an entire emergency room team to extract it.

…click on the above link to read the rest of the article…

Dollar’s Purchasing Power Drops Sharply to Record Low, But It’s a Lot Worse than CPI Shows

Dollar’s Purchasing Power Drops Sharply to Record Low, But It’s a Lot Worse than CPI Shows

If the homeownership component in CPI mirrors the Case-Shiller Home Price Index, CPI would jump 5.1%! Not to speak of new & used vehicle prices, which I nevertheless speak of.

The Consumer Price Index jumped 0.6% in March compared to February, the sharpest month-to-month jump since 2009, according to the Bureau of Labor Statistics today, and was up 2.6% from a year earlier, after the 1.7% rise in February.

The infamous Base Effect, which I discussed last week in anticipation of what is now coming, was responsible for part of it: CPI had dipped in March last year, which created a lower base for today’s year-over-year comparison. Over the 13 months since February last year, which eliminates the Base Effect, CPI rose 2.3%.

  • Prices of durable goods continued their upward surge, rising 3.7% from a year ago (purple line);
  • Prices of nondurable goods, which are largely food and energy, including gasoline, jumped 4.2% (green line);
  • Prices of services rose 1.8%. This is the biggie, accounting for two-thirds of overall CPI. It is dominated by a measure for homeownership costs, which ludicrously, as home prices are exploding, merely ticked up 2.0% from a year ago. More on that in a moment.

Consumer price inflation means loss of purchasing power of the consumer dollar, and thereby the loss of the purchasing power of labor denominated in dollars. And the purchasing power thus measured dropped 0.5% in March from February to a new record low, according to the BLS data. Given the insistence by the Fed on perma-inflation, the dollar’s purchasing power keeps dropping from record low to record low:

But wait, it’s a lot worse…

…click on the above link to read the rest of the article…

Biden’s Policy to Double Gasoline Prices

Biden’s objectives, or should I say the people really running his administration which does not include even Harris, is to DOUBLE gasoline prices which is Part-B of this plan to “Build Back Better” which first requires you to destroy the economy as it currently exists. Part A was using the lockdowns to end commuting and force the bulk of the people to work remotely. That would end commuting. Part B is to double the price of gasoline by shutting down pipelines and preventing drilling wherever possible. Of course with state taxes on top of gasoline, as you can see reaching $5 to $6 in California has been accomplished.

On the futures, the major resistance stands at the 2.20 level. We can easily see gasoline prices rise to test the $4 to $5 level by 2023. I have been warning that this election was NEVER between Trump and Biden – this was about a major change and the agenda was coming from a coordinated effort spearheaded by the World Economic Forum.

joe biden, gasoline prices, united states, world economic forum, wef, martin armstrong, armstrong economics

Germany’s Political Crisis and the Future of Nord Stream 2

GERMANY’S POLITICAL CRISIS AND THE FUTURE OF NORD STREAM 2

Germany’s Political Crisis and the Future of Nord Stream 2

In a Blinken of an Eye

The Biden Administration entered the White House accompanied by hopes that it would return to some kind of normal in its relations with the European Union. While Biden, unlike Obama, would not score a Nobel Peace Prize solely for his existence, his victory was warmly welcomed in capitals around Europe as a sign that liberalism would vanquish populism ushering in a new era of “business as usual” in the form it was practiced during the Obama Administration.

Once in office, however, the Biden Administration has been working overtime in order to dispel any notion of a relationship of mutual respect between two more or less equal allies, US and EU. Instead, Biden officials have acted as if US and EU are a contemporary version of the Austro-Hungarian Empire, two countries with ostensibly separate political systems linked by a personal union in the form of the Emperor (Biden), held together by a common army (NATO) whose main task is preventing any separatism by “Hungary” (the EU) and whose foreign policy is made wholly in “Austria” (United States). Events like Brexit merely represent a part of the empire moving from “Hungary” to “Austria” for a variety of cultural and racial reasons. In practice it meant that, in addition to Biden replying affirmatively to a court journalist’s question whether Vladimir was a “killer” and Blinken provoking a major row with a Chinese delegation by informing them the US intended to deal with China from a “position of strength”, Blinken also issued a blunt warning to European companies working on Nord Stream 2 could be subject to US sanctions if they did not immediately withdraw from the project.

…click on the above link to read the rest of the article…

J.Hawk, SouthFront, nordstream 2, germany, oil and gas industry, nato, united states, joe biden, russia

 

Exclusive: Secret cables reveal Britain interfered with elections in Chile

 Demonstrators march through Santiago de Chile in 2018 to commemorate the 45th anniversary of the coup that overthrew Chile’s left-wing President Salvador Allende. (Photo: EPA / Alberto Valdés)  Less

Declassified Foreign Office files show that Britain conducted a covert propaganda offensive to stop Chilean leader Salvador Allende winning two democratic presidential elections – and helped prepare the ground for General Augusto Pinochet’s brutal military regime.

Almost 50 years after the September 1973 coup that overthrew the democratically-elected president of Chile, Salvador Allende, declassified Foreign Office documents reveal Britain’s role in destabilising the country.

Under the Labour government of Harold Wilson (1964-1970), a secret Foreign Office unit initiated a propaganda offensive in Chile aiming to prevent Allende, Chile’s leading socialist figure, winning power in two presidential elections, in 1964 and 1970.

The unit – the Information Research Department (IRD) – gathered information designed to damage Allende and lend legitimacy to his political opponents, and distributed material to influential figures within Chilean society.

The IRD also shared intelligence about left-wing activity in the country with the US government. British officials in Santiago assisted a CIA-funded media organisation which was part of extensive US covert action to overthrow Allende, culminating in the 1973 coup.

Anyone but Allende

A Foreign Office planning document written in 1964 had noted that Latin America was “a vital area in the Cold War and checking a Communist takeover here is at least as important a British national interest as negotiating trading and stepping up exports”.

The report added that the US was “anxious for the United Kingdom to do as much as possible in the propaganda field” in Latin America.

…click on the above link to read the rest of the article…

John McEvoy, chile, united kingdom, political interference, britain, cia, united states, central intelligence agency, uk foreign office

Nord Stream 2 Operator Warns Warships and Planes Threaten the Russia-Germany Pipeline Project

Nord Stream 2 Operator Warns Warships and Planes Threaten the Russia-Germany Pipeline Project

The US is trying to prevent the project from being completed through sanctions and pressure on Germany.

A senior official from Nord Stream 2 AG, the project company leading the Nord Stream 2 Russia to Germany natural gas pipeline project, has reported an uptick in “provocative” activity from warships and planes in the area where the pipeline is being built.

“Higher activity of naval vessels, airplanes and helicopters and civilian vessels of foreign states is observed in the work area after restarted construction of the offshore segment of the Nord Stream 2 gas pipeline, whose actions are often clearly provocative,” said Nord Stream AG official Andrei Minin, according to the Russian news agency TASS.

Minin said a 1.5-mile safety zone is established around the construction area where vessels are not supposed to enter. “Nevertheless, naval vessels of foreign countries are constantly registered near service ships performing work,” he said, adding that a Polish antisubmarine warfare airplane is “regularly flying around the work area at a small height and closely to the pipelay vessel.”

Minin said in one provocation, an unidentified submarine was above surface within one mile of the pipeclay vessel Fortuna, a ship that was hit with US sanctions on January 19th. Minin said the activity indicates “obviously planned and prepared provocations.” Besides warships and planes, he said fishing vessels have also come dangerously close to the construction area.

The Nord Stream 2 pipeline has been in the crosshairs of the US for years, but despite sanctions and threats, Nord Stream AG reported on Thursday that the project is now 95 percent complete. Construction restarted in December 2020 after being suspended due to threats of US sanctions.

…click on the above link to read the rest of the article…

antiwar.com, nordstream 2, pipeline, germany, russia, united states, poland, dave decamp, economic sanctions

Russia Warns NATO Against Sending Any Troops To Ukraine As “Frightening” Escalation Looms

Russia Warns NATO Against Sending Any Troops To Ukraine As “Frightening” Escalation Looms

The Kremlin’s latest statements out Friday amid the potential new Ukraine crisis which has seen a serious flare-up in fighting in the Donbass region, along with what appears to be far bigger-than-usual troop movements on Russia’s side of the border, has raised the stakes further.

Russia has vowed it will take “extra measures to ensure its own security” should it observe any deployment of NATO troops inside Ukraine, the Kremlin statement said Friday according to Reuters.

It firmly warned against any potential looming NATO troop movements following Brussels voicing concern the day prior over the widespread reports and videos purporting to show a significant Russian build-up of forces along Ukraine’s eastern border.

Archive image of NATO exercises in Europe, via Allied Joint Force Command Naples

Reuters reports Russia’s Friday statement and “warning” as follows:

Kremlin spokesman Dmitry Peskov told reporters on Friday that the situation at the contact line in eastern Ukraine between Ukrainian government forces and Russian-backed separatist forces was quite frightening and that multiple “provocations” were taking place there.

U.S. Defense Secretary Lloyd Austin on Thursday spoke with his Ukrainian counterpart, Andrii Taran, and “condemned recent escalations of Russian aggressive and provocative actions in eastern Ukraine,” the Pentagon said.

“Our rhetoric [over Donbass] is absolutely constructive,” Peskov said in response to journalists’ questions. “We do not indulge in wishful thinking. Regrettably, the realities along the engagement line are rather frightening. Provocations by the Ukrainian armed forces do take place. They are not casual. There have been many of them.”

Ukrainian President Volodymyr Zelensky condemned the Russian troop movements across the border, calling the situation “muscle-flexing” likely to lead to “provocations” for which Ukraine’s army is “ready”…

russia, nato, united states, ukraine, zerohedge, war, world war 3

US Dollar’s Status as Dominant “Global Reserve Currency” Drops to 25-Year Low

US Dollar’s Status as Dominant “Global Reserve Currency” Drops to 25-Year Low

Central banks getting nervous about the Fed’s drunken Money Printing and the US Government’s gigantic debt? But still leery of the Chinese renminbi.

The global share of US-dollar-denominated exchange reserves dropped to 59.0% in the fourth quarter, according to the IMF’s COFER data released today. This matched the 25-year low of 1995. These foreign exchange reserves are Treasury securities, US corporate bonds, US mortgage-backed securities, US Commercial Mortgage Backed Securities, etc. held by foreign central banks.

Since 2014, the dollar’s share has dropped by 7 full percentage points, from 66% to 59%, on average 1 percentage point per year. At this rate, the dollar’s share would fall below 50% over the next decade:

Not included in global foreign exchange reserves are the Fed’s own holdings of dollar-denominated assets, its $4.9 trillion in Treasury securities and $2.2 trillion in mortgage-backed securities, that it amassed as part of its QE.

The US dollar’s status as the dominant global reserve currency is a crucial enabler for the US government to keep ballooning its public debt, and for Corporate America’s relentless efforts to create the vast trade deficits by offshoring production to cheap countries, most prominently China and Mexico. They’re all counting on the willingness of other central banks to hold large amounts of dollar-denominated debt.

But it seems, central banks have been getting just a tad nervous and want to diversify their holdings – but ever so slowly, and not all of a sudden, given the magnitude of this thing, which, if mishandled, could blow over everyone’s house of cards.

20 years of decline.

…click on the above link to read the rest of the article…

wolfstreet, wolf richter, us dollar, world reserve currency, central banks, money printing, fed, us federal reserve, money, us debt, debt, united states

What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise?

What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise?

After Wednesday’s JMMC meeting ended without reaching a recommendation (as is customary and expected), the key decision-making OPEC+ meeting – where ministers will hammer out May’s output quotas – begins at 1pm London Time. As Newsquawk notes, market expectations are skewed towards an extension of current cuts, but a clear stance from Saudi – who have a tendency to surprise in recent months – remains to be seen, namely on the decision regarding the extra 1MM barrels the Kingdom has kept offline since the start of the year.

Commenting on today’s key event, Bloomberg’s Jake Lloyd-Smith reminds us that Saudi Arabia has sprung some big surprises in the oil market already this year, and may do so again today as OPEC+ grapples with a thorny decision on supply. That could make for a volatile session before the long weekend, and already has with oil whipsawing from gains to losses in jittery trading, amid market rumors that OPEC+ is i) considering a return to phased monthly oil-output hikes and ii) is also considering maintaining current cuts, according to a delegate… which pretty much covers every base so is completely useless.

As such, while the consensus view is the grouping will stick with deep output curbs to safeguard crude’s recovery, there’s an outside chance of alternative outcomes. These span the twin extremes, from releasing barrels to tightening further.

At issue is the varied recovery across key regions. For every rosy demand metric from the U.S. or China, there’s a poor one from Europe as lockdowns make a comeback. In addition, Riyadh faces a headache from rival Iran, which has been pushing clandestine barrels into China despite U.S. sanctions…

…click on the above link to read the rest of the article…

opec+, oil and gas industry, zerohedge, saudi arabia, russia, iran, china, united states, economic sanctions, oil, oil price, bloomberg

Biden’s Ukrainian “Putin Push” May Lead To World War III

Biden’s Ukrainian “Putin Push” May Lead To World War III

NATO Has Slowly Expanded Towards Russia

Biden was in charge of much of the “Ukraine project” during Obama’s time in office. In recent weeks President Biden has been saying some rather mean-spirited things about Russia’s President Vladimir Putin. Now Russian state sources are alleging that Washington under the Biden administration is ramping up military aid to Ukraine. This comes after the media observed the Ocean Glory, a US cargo ship, began delivering 350 tonnes of military equipment, including tactical vehicles, at Ukraine’s Odessa port. Ukraine’s Dumskaya news agency said the American vessel carried at least 35 US military humvees for Ukrainian national forces.

Adding Ukraine to NATO and the EU is a long-held dream of neocons like Victoria Nuland and neoliberals like Biden. This is also important to those supporting the World Economic Forum’s desire to expand the EU and encircle Russia. They feel such an action would disrupt any dreams of Eurasian integration which could resist their strategy to reshape the way the world is governed. Putin’s foreign policy, coupled with efforts to rebuild the Russian military, has been part of an effort by the former KGB officer to boost Russia’s standing on the world stage. This has helped make him popular with his people even as Nato has slowly been expanding in the direction of Russia, but also makes him a thorn in the side of the NWO gang.

Interestingly, this delivery of military equipment occurred near the time Ukrainian President Volodymyr Zelensky, was signing Decree No. 117/2021. The decree activates the Ukraine Army to recapture and re-unify with Ukraine, the autonomous region of Crimea, and the city of Sevastopol. The military has been instructed to use “hybrid warfare” to re-conquer these former parts of Ukraine...

…click on the above link to read the rest of the article…

bruce wilds, advancing time blog, joe biden, ukraine, world war 3, world war, war, united states, us government

New Infrastructure Will Not Come Good, Fast, And Cheap

New Infrastructure Will Not Come Good, Fast, And Cheap

Anyone naive enough to think America is about to receive a big gift of newfangled “fixed installations” needed in order to function should look long and hard at what is really being proposed. The “underlying structure” a country and the economy rely upon includes things such as roads, bridges, dams, water and sewer systems, railways and subways, airports, and harbors. None of these things are cheap to construct and when it comes to infrastructure the words, good, fast, and cheap should never be clustered together. While many people see government spending on infrastructure as a job creator and a silver bullet for our ailing economy I would like to raise a word of caution, things are not that simple. The cynical part of me thinks the American people should get ready to get bent over and taken advantage of.

Spending Trillions Likely To Result In An Epic Fail

Now that Biden’s massive Covid-19 relief package has been signed into law, talk is moving towards what is next on the agenda, That’s where, most likely, his infrastructure plan resides, and this is a plan set to explode the budget. If you think that $1.9 trillion is a lot of money, it pales next to what the Democrats are going to propose as they continue on their spending spree. It appears that Biden wants $3 trillion or more which should scare away moderates such as West Virginia’s Joe Manchin but it has not. Not only has Manchin not blinked at $3 trillion in new spending instead, he recently stated Congress should do “everything we possibly can” to pay for it. He said there should be “tax adjustments” to former President Donald Trump’s 2017 tax law to boost revenues, his endorsement of raising the corporate rate from the current 21 percent to at least 25 percent, however, would do little.…click on the above link to read the rest of the article…

bruce wilds, advancing time blog, united states, government stimulus, infrastructure, crony capitalism

Olduvai IV: Courage
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Olduvai II: Exodus
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