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Oil in Global Economy Series

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A new oil order has emerged over the past few years as oil prices have taken a plunge of about 60%. U.S., world’s one of key importer is about to become a major exporter of hydrocarbons. OPEC cartel, which has historically been a key player politically and price maker, losing its relevance and pricing power. On the energy front, renewables and gas becoming key challenger to oil’s global dominance. Moreover, this lower price is hitting energy exporters harder, creating global economic vulnerabilities. This new oil price and geo-political order demand greater analysis, which is the main focus of this series.

Oil in Global Economy Series

BHP's offloading of oil and gas assets shows the global market has turned on fossil fuels

Aug 22, 2021 01:23 am UTC| Business

The announcement by BHP, the worlds second-largest mining company, that it will shift its oil and gas assets into a joint venture with Australian outfit Woodside is a clear indication the Big Australian is getting out of...

Oil in Global Economy Series

WTI inches closer towards $75 mark, gains over 1.75% ahead of OPEC meeting

Jul 01, 2021 10:47 am UTC| Technicals

USOIL chart - Trading View U.S. West Texas Intermediate was trading 1.73% higher on the day at $74.78 at around 10:40 GMT. Oil prices remain buoyed after data Wednesday showed U.S. crude stockpiles fell 6.7 million...

Oil in Global Economy Series

WTI extends losses after doji formation in the previous session, bears eye 200H MA at $67.95

Jun 08, 2021 12:15 pm UTC| Technicals Economy

USOIL chart - Trading View West Texas Intermediate (WTI) crude is extending declines from multi-month highs at $69.97 after doji formation in the previous session. WTI was trading 0.93% lower on the day at $68.61 at...

Oil in Global Economy Series

Australia's economy can withstand the proposed European Union carbon tariff — here's what we find

Apr 23, 2021 11:41 am UTC| Economy

The European Union has committed to very significant emission cuts 55% on 1990 levels by 2030, and zero net emissions by 2050. To help it get there without too much disruption, the president of the European Commission...

Oil in Global Economy Series

Oil: why higher prices will complicate the energy transition

Mar 22, 2021 13:34 pm UTC| Economy

The oil price is on a rollercoaster. Having crashed into negative territory just last April, the price of Brent crude climbed all the way to US$70 (50) earlier in March. It has since slid below US$64. So where is it...

Oil in Global Economy Series

The oil industry says it might support a carbon tax – here's why that could be good for producers and the public alike

Mar 08, 2021 07:43 am UTC| Economy

The oil industrys lobbying arm, the American Petroleum Institute, suggested in a new draft statement that it might support Congress putting a price on carbon emissions to combat climate change, even though oil and gas are...

Oil in Global Economy Series

Japan leans on Asian LNG production to lower purchase costs

Feb 26, 2021 00:17 am UTC| Economy

Japan will support Asian countries liquefied natural gas (LNG) production for use in power generation in the hope of reducing procurement costs for the energy source. The efforts to lower purchasing costs and ensure...

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Economy

What should you do if you can’t pay your rent or mortgage?

The cost of living crisis is making it difficult for many people to pay their bills, including housing costs. Private sector rents have increased by an average 9% over the year to February 2024, and rising interest rates...

Reducing energy demand and improving efficiency will help prevent the next gas crisis

Gas prices have relaxed, Europe has come out of the winter with record gas storage levels and a surfeit of liquefied natural gas is set to reach the shores of Europe over the coming years. Many commentators are hopeful...

Minimum wage for South African farm workers: study shows 2013 hike helped reduce poverty even though compliance was poor

Minimum wage policies are typically aimed at reducing poverty. Yet there is little direct evidence of this effect, especially in developing countries. And none for South Africa. In a recent paper, we consider the...

Gas is good until 2050 and beyond, under Albanese gas strategy

The Albanese government is talking up the crucial role of gas as a transition fuel through to 2050 and beyond. In a gas strategy to be released on Thursday, the government envisages the fuels uses would change over...

South Africa’s plan to move away from coal: 8 steps to make it succeed

The South African governments Just Energy Transition Implementation Plan was launched in November 2023. It is a roadmap guiding the country away from reliance on coal-fired power towards renewable energy alternatives by...

Politics

Donald Trump Allegedly Offers Oil Execs a Deal to Scrap EV Incentives for $1B Donation

Former President Donald Trump reportedly proposed a $1 billion deal to oil executives, offering to end electric vehicle (EV) subsidies in return for campaign funding, according to The Washington Post. This move underscores...

US Supreme Court upended decades of precedent in 2022 by allowing voters to vote with gerrymandered maps instead of fixing the congressional districts first

For the 2022 midterm elections, the U.S. Supreme Court allowed Alabama to use congressional districts that violated the law and diluted the voting power of Black citizens. A 5-4 vote by the Supreme Court in February...

Germany lowers voting age to 16 for the European elections

Ahead of the European parliament elections in June, Germany has lowered the age limit on participation to 16. This makes it the largest of just a handful of states in the EU to allow people under the age of 18 to vote....

South Africa will be president of the G20 in 2025: two much-needed reforms it should drive

South Africa will play an important international role in 2025 as president of the G20. The G20 is a group of 19 countries as well as the African Union and the European Union. Between them they represent 85% of global...

What early 2024 polls are revealing about voters of color and the GOP

By the end of winter 2024, the return of Donald Trump to the top of the GOP presidential ticket has revealed a surprising trend in the former presidents base of support: his increasing popularity among Black and Latino...

Science

Is dark matter’s main rival theory dead? There’s bad news from the Cassini spacecraft and other recent tests

One of the biggest mysteries in astrophysics today is that the forces in galaxies do not seem to add up. Galaxies rotate much faster than predicted by applying Newtons law of gravity to their visible matter, despite those...

Why are algorithms called algorithms? A brief history of the Persian polymath you’ve likely never heard of

Algorithms have become integral to our lives. From social media apps to Netflix, algorithms learn your preferences and prioritise the content you are shown. Google Maps and artificial intelligence are nothing without...

IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects

About a trillion tiny particles called neutrinos pass through you every second. Created during the Big Bang, these relic neutrinos exist throughout the entire universe, but they cant harm you. In fact, only one of them is...

The Mars Sample Return mission has a shaky future, and NASA is calling on private companies for backup

A critical NASA mission in the search for life beyond Earth, Mars Sample Return, is in trouble. Its budget has ballooned from US$5 billion to over $11 billion, and the sample return date may slip from the end of this...

Dark matter: our new experiment aims to turn the ghostly substance into actual light

A ghost is haunting our universe. This has been known in astronomy and cosmology for decades. Observations suggest that about 85% of all the matter in the universe is mysterious and invisible. These two qualities are...

Technology

Massive SHIB Transfers Occur Despite Sharp Decline in Shibarium Transactions

Shiba Inu (SHIB), a dog-themed cryptocurrency, has seen a startling 3,015% increase in large holder NetFlow, which provides insight into whales changing positions. However, this impressive surge comes with a...

SHIB Whale Activity Surges Amid Plummeting Shibarium Transaction Volumes

While the Shiba Inu developer team continues to work on and implement key updates to the Layer-2 blockchain, Shibarium is seeing a significant drop in transaction volume, which has been ongoing for about a month. This...

AirTag With New Chip and Improved Tracking Due Next Year; No New Mac Studio, Pro Until Mid-2025: Mark Gurman

Apples upcoming AirTag, equipped with an upgraded chip and enhanced tracking, is expected to launch by mid-2025, as detailed by Bloombergs Mark Gurman. He also claimed that Apple will not update the Mac Studio and Mac Pro...

Shibarium Faces 97% Drop in Transactions, Yet Transfers Rise Steadily

High FDVs on Binance Listings Lead to Investor Losses, Analysis Reveals

An analysis of Binance listings over the past six months reveals that high fully diluted valuations often lead to token value loss, adversely affecting regular investors while benefiting insiders. VC-Backed Tokens on...