Why oil-producing nations are rushing to ramp up production

Oil producers face catastrophe if countries worldwide move to limit global warming by two degrees Celsius

Why oil-producing nations are rushing to ramp up productionCrude oil demand is weak and the fundamental factors aren’t encouraging. Yet, most major oil-producing countries are moving to boost their output levels in the short run. Why? Saudi Arabia is pursuing plans to develop major offshore expansion projects to add an extra 1.15 million barrels per day (bpd) to its oil capacity by 2024,…

Canada must stand up to China now

The Chinese government wants to dominate all other nations, seeking submission on its terms. We must resist

Canada must stand up to China nowThe vote by Canada’s Parliament to declare the actions of the Chinese government a genocide against the Uyghur people highlights the growing discordance between Western democracies and the increasingly repressive and aggressive Chinese regime. The Chinese government also engages in cultural repression, surveillance or discrimination against its Tibetan, Mongolian and Korean minorities. China has benefited…

Oil market recovery may be on borrowed time

The recent spike in oil markets was engineered – fundamentals didn’t drive it. There were issues about the tight leash on output

Oil market recovery may be on borrowed timeThe oil market recovery is faltering. Uncertainty over the speed of an economic recovery and whether there will be a full rebound in global oil demand is holding back the markets. Stalled COVID-19 vaccination efforts in parts of the world and a strong dollar are also keeping the markets from rising much further. The recent…

Modern monetary theory threatens to weaken economic progress

MMT leads to more government control over the economy and turns central banks into a political tool

Modern monetary theory threatens to weaken economic progressPublic debt is not a problem, suggests the big idea behind modern monetary theory (MMT). That’s a faulty and dangerous assumption. The current economic crisis has allowed MMT to gain influence among the political class. Among the people who developed United States President Joe Biden’s economic program is Stephanie Kelton, a former economic adviser to…

Saudis determined to keep crude oil market on a tight leash

Although the OPEC+ decision resulted in immediate oil price gains, the warning shots on the horizon couldn’t be altogether ignored

Saudis determined to keep crude oil market on a tight leashSaudi Arabia is leading the pack on crude oil production management. Russia seems to be following. Despite murmurs in the oil market of a possible rift between the two countries on the issue of output, the Organization of Petroleum Exporting Countries (OPEC) and their allies in the OPEC+, at their virtual meeting last Thursday, went…

Oil prices rise as Texas drops into deep freeze

But how long will the bull run last?

Oil prices rise as Texas drops into deep freezeWith the Brent crude oil price touching $65 last week, markets have entered the hot zone. Inclement weather, the resultant rising demand for heating, a dip in United States output and the unilateral Saudi output cut all helped to tighten the markets, contributing to the bull run. Parts of the U.S. have been in a…

Lockdowns battered economy but didn’t end the pandemic

Are politicians following the data or their pride?

Lockdowns battered economy but didn’t end the pandemicWhen the British government revealed the existence of a new strain of COVID-19 just before Christmas, it proved an effective way for the prime minister to enforce strict Tier 4 lockdown measures on much of the south of England with minimal fuss. It also very quickly isolated the United Kingdom from the rest of the…

New strategies for when a pandemic becomes endemic

What governments have done in response to COVID-19 has been remarkably injurious to humanity’s general health

New strategies for when a pandemic becomes endemicRecent pronouncements by the World Health Organization (WHO) suggest its view of COVID-19 is evolving from a pandemic threat that’s novel and spreading to an endemic threat that has established itself as just another new contestant in the vast ecosystem of organisms that interact periodically with humans. This suggests a need to change strategy. After…

Global vaccine certification would help world bounce back from COVID-19

Surest way to restore free movement across borders and reboot ailing economies

Global vaccine certification would help world bounce back from COVID-19As the world looks to a post-pandemic future, a global COVID-19 vaccine certification program might be the surest way to restore free movement across borders and reboot ailing economies, according to University of Alberta political scientist Andy Knight. “We need to develop an international protocol – especially for small, more vulnerable states – that will allow…
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