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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

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...

Oil in Global Economy Series

How to ensure Alberta's oil and gas workers have jobs during the energy transition

Nov 01, 2023 07:00 am UTC| Economy Business

Retraining Albertas oil and gas workers for the solar industry costs far less than you think. The results of our new study clearly show that a rapid transition to sustainable energy production is feasible, as costs of...

Oil in Global Economy Series

Electrifying offshore platforms targets a tiny fraction of the oil industry's emissions

Oct 27, 2023 14:54 pm UTC| Business

We are all familiar with the greenhouse gas emissions that come from burning fossil fuels in car engines, central heating systems and power stations. Little discussed is the climate footprint of producing oil and gas in...

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Economy

Beyond the spin, beyond the handouts, here’s how to get a handle on what’s really happening on budget night

Three weeks from now, some of us will be presented with a mountain of budget papers, and just about all of us will get to hear about them on radio, TV or news websites on budget night. The quickest way to find out what...

Johannesburg in a time of darkness: Ivan Vladislavić’s new memoir reminds us of the city’s fragility

Ivan Vladislavić is Johannesburgs literary linkman. He tells us, in the first pages of his new book, The Near North, that before cities were lit, first by gaslight and later electricity, people of means paid torchbearers...

What if the Reserve Bank itself has been feeding inflation? An economist explains

Heres something for the board of the Reserve Bank of Australia to ponder as it meets next month to set interest rates. It has pushed up rates on 13 occasions since it began its attempt to restrain inflation in May...

China’s new world order: looking for clues from Xi’s recent meetings with foreign leaders

There is broad consensus that Chinese foreign policy has become more assertive and more centralised in the decade since Xi Jinping has ascended to the top of Chinas leadership. This has also meant that Chinese foreign...

How India’s economy has fared under ten years of Narendra Modi

More than 960 million Indians will head to the polls in the worlds biggest election between April 19 and early June. The ruling Bharatiya Janata Party (BJP), which is led by Prime Minister Narendra Modi, is seeking a third...

Politics

Labour can afford to be far more ambitious with its economic policies – voters are on board

To say that the Labour party is flying high in the polls is something of an understatement. But despite its consistent lead against the Tories, the opposition finds itself in a rather odd position: on the cusp of power but...

History for sale: what does South Africa’s struggle heritage mean after 30 years of democracy?

One of my favourite statues is the one of Nelson Mandela at the Sandton City shopping centre in Johannesburg. Larger than life, its oversized bronze shoes shimmer in the evening light, polished by the hands of many...

Sudan: civil war stretches into a second year with no end in sight

In the early hours of April 15 2023, the Rapid Support Forces (RSF) a Sudanese paramilitary force attacked the military airstrip in the town of Merowe and deployed troops across strategic locations in Sudans capital,...

Turkey’s suppression of the Kurdish political movement continues to fuel a deadly armed conflict

The world has 91 democracies and 88 autocracies. Yet 71% of the worlds population (some 5.7 billion people) are living under autocratic rule, a big jump from 48% ten years ago. This trend towards authoritarianism can...

Georgia is sliding towards autocracy after government moves to force through bill on ‘foreign agents’

Georgias ruling party attempted to pass a controversial bill on foreign agents in March 2023. The law would have required civil society groups and the media to register as being under foreign influence if they receive...

Science

A Nasa rover has reached a promising place to search for fossilised life on Mars

While we go about our daily lives on Earth, a nuclear-powered robot the size of a small car is trundling around Mars looking for fossils. Unlike its predecessor Curiosity, Nasas Perseverance rover is explicitly intended to...

The rising flood of space junk is a risk to us on Earth – and governments are on the hook

A piece of space junk recently crashed through the roof and floor of a mans home in Florida. Nasa later confirmed that the object had come from unwanted hardware released from the international space station. The 700g,...

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

Technology

SHIB Price Climbs as Shibarium Upgrade Sparks Optimism Among Investors

The Shiba Inu cryptocurrency surged over 4% on April 26, buoyed by executive enthusiasm for the forthcoming Shibarium upgrade to enhance the platforms functionality and security. Shibarium Upgrade Fuels Market Optimism,...

China Investigates Digital Yuan Architect Yao Qian Amid CBDC Concerns

Yao Qian, a pivotal figure behind Chinas digital yuan, is under investigation for alleged misconduct, casting uncertainty on the future of Chinas CBDC initiatives. Probe into Yao Qian Shakes Foundations of Chinas...

Shein Joins Facebook, Amazon in EU Digital Regulations Compliance

Under the EU Digital Regulations, Shein has joined tech giants like Facebook, Amazon, and Google in meeting the strict compliance standards set by the EUs Digital Services Act due to its user base surpassing 45 million in...

Metaplanet Inc. Buys $6.25M in Bitcoin, Pivots to Digital Assets

In a strategic financial maneuver, Metaplanet Inc., a prominent Japanese public company, has invested $6.25 million in Bitcoin, marking its entry into the burgeoning cryptocurrency market. Metaplanet Dives into Crypto,...

Samsung Galaxy S24 FE Details Leak: Model Numbers, Name Uncovered

New leaks disclosing the Galaxy S24 FEs model numbers and official name have contributed to the series anticipation as Samsung advances the devices production. Leak Unveils Samsung Galaxy S24 FE Details Samsungs...