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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 is selling its dirty oil and gas assets, but hold the applause

Aug 22, 2021 01:39 am UTC| Business

When BHP announced it would sell its stake in its oil and gas business to Woodside Petroleum to form a merged oil and gas business, it appeared welcome news. A big miner finally takes climate change seriously. But...

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...

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Economy

Burger King’s first vegetarian restaurant opens in Madrid

Burger King is offering something exciting for its customers who do not eat meat. The fast-food chain has opened its very first vegetarian restaurant outlet in Madrid to cater to vegetarian customers. The new Burger...

Starbucks, Amazon reportedly in talks to launch cashier-less cafe outlets

Starbucks and Amazon are said to be in the discussion for the launch of coffee shops featuring the Just Walk Out technology for a cashier-less transaction when paying. The potential tie-up will place the e-commerce and...

Paypal reportedly in the final stage of acquiring Pinterest for $45B

Paypal is set to buy Pinterest for $45 billion and this was revealed by sources who are familiar with the deal. On Wednesday, Oct. 20, it was reported that the financial technology company specializing in money transfers...

Facebook: Senators urged Mark Zuckerberg to give up its Novi crypto wallet pilot

Facebook dropped its Novi crypto wallet this week for a pilot run, and just hours after its launch, government officials have called on Mark Zuckerberg to immediately discontinue the cryptocurrency wallet that is being...

Politics

Capitol insurrection: Donald Trump's lawsuit to be presided by federal judge who condemned Jan. 6 riots

In an attempt to block the House Committee from seeing White House records, former President Donald Trump filed a lawsuit maintaining executive privilege. The lawsuit is set to be handled by a federal judge who is known to...

Kamala Harris, Marty Walsh announce new guidelines to encourage federal workers to join unions

US Vice President Kamala Harris is also leading the Biden administrations efforts to address labor, especially at a time where people are still struggling to work due to the pandemic. This week, Harris, along with Labor...

US House Speaker Nancy Pelosi to lead delegation in climate summit

The international summit on climate change is set to take place in the coming week as world leaders are set to propose their strategies in combating climate change. US House Speaker Nancy Pelosi will be leading the...

Haiti gang demands $17 million ransom for kidnapped missionaries

In recent months, the nation of Haiti has seen a rise in unrest that was worsened over the past several days following the kidnapping of American and Canadian missionaries. The latest development on the kidnapping came...

Science

LG Chem develops substance for creating cheaper, lighter plastic solar panel frames

LG Chem combined polycarbonate and acrylonitrile styrene acrylate (ASA) to develop LUPOY EU5201 to be used in plastic frames for solar panels. Consequently, LG has become the first in South Korea to develop plastic...

Owls used in helping California vineyards get rid of rodents

A Humboldt State University team is attempting to prove that owls can be an effective eco-friendly option at protecting grapes from rodent attacks. Graduate students at the universitys Department of Wildlife under...

S. Korean researchers develop process that uses agri-waste to produce biofuels, plastics

The Korea Institute of Energy Research (KIER) had developed an enzymatic process that uses agricultural waste to produce the 4-hydroxy valeric acid--an ingredient for biofuels and plastics. The KIERs enzymatic process...

France probes Nestlé, 100 other firms over bisphenol-A use

The French government is investigating 101 companies, including Nestlé, for not disclosing their use of bisphenol-A in food packaging. In its statement of objections, Frances competition authority accused the 101...

Kansai found to have more genetically predisposed coffee lovers than elsewhere in Japan

Tokyo-based genome data analysis firm Euglena found that those with rs671 genotypes of ALDH2 are more predisposed to liking coffee and more prevalent in people from the Kansai area than other parts of Japan. Euglena...

Technology

Snapdragon 898 and Dimensity 2000: New leak says both chips will use 4nm architecture

Qualcomm and MediaTek are anticipated to reveal their latest flagship mobile SoCs that are expected to be named Snapdragon 898 and Dimensity 2000, respectively. Their core specifications might have been revealed in a...

27-inch iMac to sport 120Hz ProMotion mini-LED display, analyst reports

Apple may have big plans for the iMac line in 2022. The tech giant continues to sell an Intel-based iMac, but that might change in the coming months as the company is rumored to introduce a new 27-inch iMac. The 14-inch...

MacBook Air could have a display notch in 2022

Many were skeptical when a leak appeared online, claiming that the new MacBook Pros would have a display notch until it was confirmed during Apples October launch event on Monday. Now, it appears that the new design...

Redmi Note 11 series to launch on October 28

Xiaomi is gearing up for another smartphone launch happening next week. This time, the highlight of the upcoming event is the Redmi Note 11 series. While the company is keeping the new technical specifications under wraps,...
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