• 03.02.2020: Oil and RUB at lowest amid coronavirus concerns
    Articles,  Blog

    03.02.2020: Oil and RUB at lowest amid coronavirus concerns

    The new trading week has started with thenews about a plunge in Asian markets. This time, the stock indices has fallen sharply. Shanghai Composite index fell by 9% whereas US indices have posted smaller losses. Commodity markets are following the same downward trend. Brent crude opened the session trading near the level of 56 dollars a barrel. Disruption in supply chain and travel restrictions to China, the world’s leader among export-oriented economies, have led to a significant reduction in global energy consumption. It is reported that oil demand in China has dropped by 20 percent amid the virus outbreak. This decline in energy demand is considered to be a great…

  • France: Oil Refinery Workers Go on Strike Over Pension Reform Plans
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    France: Oil Refinery Workers Go on Strike Over Pension Reform Plans

    “Now we are going to see the direction to announce the rate of strikes and for written instructions to be laid down so that the loads are no longer made at the north and south bus stations so that there is no more fuel that comes out, that the valves of the pipes be cut so that we no longer supply the deposits, that the boats remain at the quay so that they no longer do coasting and that they no longer supply the Atlantic coast, and that the wagons are stopped to stop supplying by train. This movement is launched at 1pm today, with a strike rate around 90%…

  • Venezuelan Crisis: The Long History Of U.S. Intervention | AJ+
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    Venezuelan Crisis: The Long History Of U.S. Intervention | AJ+

    A New York Times report from 2018 claims that the Trump administration held with Venezuelan military officers to discuss their plans That would not have been the first time a U.S. administration has meddled in Venezuela’s affairs. In fact, Well, it’s not new, as the history record proves. The U.S. has sought regime change in Venezuela since the election of Hugo Chávez. This has been going on a long time, I think the main difference is that the Trump administration is much more aggressive about it and open about it. But you can’t talk about U.S. intervention in Venezuela or even Latin America, without mentioning a nearly 200-year-old policy called…

  • The oil wars: How America’s energy obsession wrecked the Middle East | Eugene Gholz
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    The oil wars: How America’s energy obsession wrecked the Middle East | Eugene Gholz

    So for a long time oil has played a special role in American foreign policy and military strategy. Oil is a uniquely important commodity in global affairs. It’s an input to everything in our modern way of life; it’s very important for protecting our prosperity; and at a certain level oil is essential for high-quality military power: to fight you need access to oil. And in the Cold War the United States was concerned that the Soviet Union could interrupt American access to Persian Gulf oil, which we needed in order to defend Europe, defend our own interests against the Soviet Union. And so we took it on as a…

  • Articles

    Bill C-69: the worst piece of legislation passed in decades

    Bill C-69 has been a disaster from the minute Justin Trudeau and Gerald Butts introduced it. Butts is long gone but the nasty influence of this bill continues. Now it’s become law, the worst piece of legislation passed by Parliament in decades. This is a bill that’s going to drive wedges across this country that will rival or exceed Pierre Trudeau’s arrogant treatment of the Western Canadian energy sector. Some of us felt this bill was unsalvageable from the beginning, but a lot of people put a lot of time and effort into trying to make it remotely useful. Senators of all stripes actually worked together to amend it to…

  • Articles

    Can Cities Sue Oil Companies for Climate Change? [POLICYbrief]

    A large number of municipalities, counties, and even one state have recently sued the oil companies, some coal companies, some gas companies, all essentially parts of the fossil fuel industry saying two things. One, that you knew when you were marketing these products back in the 1960s and 1970s, and into the 1980s, that the effects of climate change would follow upon their use. And second, you didn’t tell anybody. The public nuisance lawsuits in climate change started around 2017 when you started seeing municipalities bring lawsuits against oil companies to hold companies liable under novel theories of public nuisance claims. Private nuisance is brought by a private plaintiff as…

  • Pipelines and Eminent Domain [POLICYbrief]
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    Pipelines and Eminent Domain [POLICYbrief]

    Eminent domain is the power of the government to seize private property for public use. Eminent domain is restricted by U.S. and State Constitutions, which require that the private property owner be justly compensated for the taking. Eminent domain does undermine private property rights, almost by definition. But there are many limits to that. Historically, under the Common Law, there’s a bundle of rights we recognize with property and there’s a broad spectrum. Eminent domain could be a complete taking of the individual’s private property. That is, they are now removed from the property and no longer an owner and have no rights at all. Or it could be a…

  • OMV half-year results 2019 highlights: Amendment to the “Basic Sale Agreement” for Achimov 4A/5A
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    OMV half-year results 2019 highlights: Amendment to the “Basic Sale Agreement” for Achimov 4A/5A

    OMV presents the results of the first half year of 2019. Let’s start with the latest highlights: The highlight for me in the first half of this year, was June the 7th in Saint Petersburg. I was very privileged to attend the Saint Petersburg International Economic Forum, and there in front of representatives of the Russian and Austrian Government, OMV and Gazprom signed an amendment to the “Basic Sale Agreement” for Achimov 4 & 5. This foresees a price of 905 million Euros in exchange for 24.98 percent in the Achimov 4 & 5 development project. Achimov is part of the Urengoy gas field. This is the biggest gas incondensate…