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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

Oil prices will whipsaw as we move to net zero, which could be disastrous for low-income producer countries

Aug 19, 2024 03:40 am UTC| Insights & Views Economy

One huge question for the future of the global economy is how oil will be affected by the transition to net zero. Any energy economist will tell you that predicting oil prices is something of a fools errand, given all the...

Oil in Global Economy Series

Global demand for oil could peak soon

Jun 13, 2024 06:03 am UTC| Economy

This weeks announcement of the governments plans to reopen New Zealands territorial waters to oil drilling comes as no surprise. All three coalition parties campaigned on reversing the 2018 ban on offshore oil...

Oil in Global Economy Series

Will global oil supply be at risk if Iran and Israel pull the Middle East into war?

Apr 18, 2024 06:28 am UTC| Insights & Views Economy

Tensions in the Middle East have escalated following Irans weekend missile and drone attacks on Israel, heightening concerns of a wider conflict. As with the Russian invasion of Ukraine, further conflict has the...

Oil in Global Economy Series

Bill C-372: Banning fossil fuel ads does not go far enough

Mar 20, 2024 12:14 pm UTC| Insights & Views Economy

When the New Democratic Party MP Charlie Angus proposed private members bill C-372 in February to ban fossil-fuel advertising it is unsurprising that he struck a nerve with many. After all, standing up to fossil fuel...

Oil in Global Economy Series

Oil firms want to drill in four of the UK’s areas of outstanding natural beauty

Mar 19, 2024 11:33 am UTC| Insights & Views Business

Think of onshore oil fields and images of oil derricks and nodding donkeys may spring to mind, perhaps in Texas or the Middle East. So it might come as a surprise to learn that the UK has its own onshore oil fields, mostly...

Oil in Global Economy Series

Offering oil and gas licences every year distracts from the challenge of winding down UK North Sea

Nov 10, 2023 14:43 pm UTC| Business

New areas for oil and gas development on the UKs North Sea continental shelf are to be made available through annual licensing rounds subject to net zero tests. These proposals by the UK government, outlined in the 2023...

Oil in Global Economy Series

Abandoned oil rigs could scrape carbon from the sky and store it in empty undersea reservoirs

Nov 07, 2023 09:06 am UTC| Business

Keeping control of our planets thermostat is proving tricky these days. Temperatures are rising slowly, and inaction is proving costly as we awkwardly lurch towards a cleaner future. Some industries are proving...

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Economy

Gold Prices Rise as Hormuz Tensions Fuel Inflation Risks

Gold prices moved higher on Thursday, recovering from their lowest level since early August as renewed tensions around the Strait of Hormuz increased concerns over energy supplies and inflation. Expectations that the...

Oil Prices Rise as Gulf Hurricane and Middle East Supply Risks Mount

Oil prices climbed on Thursday as traders assessed potential supply disruptions from a strengthening storm along the U.S. Gulf Coast and persistent geopolitical tensions in the Middle East. Brent crude futures for December...

US-Led Coalition Targets Global Factory Overcapacity

Trade ministers from 12 G20 nations, the European Union and Poland have backed a US-led initiative aimed at tackling structural excess factory capacity and trade-distorting policies that contribute to global...

Mike Rogers Calls for End to US-Canada Tariff War

Michigan Republican Senate candidate Mike Rogers is calling for an immediate end to the US-Canada tariff dispute, distancing himself from President Donald Trump on another major policy issue ahead of next months election....

Bangladesh GDP Growth Accelerates to 4.6% on Industrial Rebound

Bangladeshs economy recorded a sharp acceleration in growth during the April-June quarter, supported by a strong recovery in industrial activity and steady expansion in the services sector, even as agriculture lost...

Politics

US Pressures Allies to Distance From Anti-Disinformation Conference

The US State Department urged Canada and European allies to distance themselves from an anti-disinformation conference after organizers included a panel examining whether the United States poses an information manipulation...

Hegseth Praises USS Abraham Lincoln Crew After Record Iran War Deployment

US Defense Secretary Pete Hegseth praised sailors aboard the USS Abraham Lincoln on Wednesday as the aircraft carrier completed an extended wartime deployment marked by intense combat operations and concerns over crew...

Tsai Warns of China’s Sustained Pressure on Taiwan

Former Taiwan President Tsai Ing-wen warned a U.S. audience on Wednesday that China is maintaining sustained pressure on Taiwan through military, cyber and economic activities designed to reshape the islands security...

Trump Backs Florida Golf Course as Presidential Retreat

US President Donald Trump on Wednesday endorsed a proposal to transform part of his West Palm Beach, Florida, golf course into a secure presidential retreat similar to Camp David. Its a great idea, and it will be used a...

Saudi Airport Attacks Kill Three as Yemen Fighting Escalates

Three people were killed and dozens wounded in attacks on airports in Saudi Arabia as escalating fighting between Yemens Iran-aligned Houthis and Saudi-backed government forces threatens regional aviation and key shipping...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Tencent Shares Fall as $5 Billion AI Bond Sale Weighed

Tencent Holdings (HK:0700) shares declined on Thursday following reports that the Chinese technology giant is exploring a potential offshore bond offering worth up to $5 billion to support its growing artificial...

Elon Musk Accuses Indian Telecom Giants of Blocking Starlink Launch

Elon Musk has accused powerful telecommunications companies in India of obstructing SpaceXs Starlink satellite internet launch, raising concerns about competition and regulatory barriers in one of the worlds largest...

Solidigm Taps Goldman, Morgan Stanley for $10 Billion US IPO

SK hynixs U.S. flash-memory subsidiary Solidigm has reportedly selected Goldman Sachs and Morgan Stanley as lead underwriters for a planned initial public offering that could raise around $10 billion. Bloomberg News...

Samsung Q3 Profit Hits Record High on AI Memory Demand

Samsung Electronics forecast its strongest-ever third-quarter operating profit as booming artificial intelligence demand continued to fuel sales of advanced memory chips, although earnings landed slightly below the higher...

Broadcom, Oracle and SpaceX Seek Billions in Private Debt for AI Expansion

Major artificial intelligence companies are increasingly turning to private debt markets to finance tens of billions of dollars in AI chips and data center infrastructure, as traditional funding sources struggle to keep...