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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

Coinbase drops lending program due to SEC's lawsuit threat

Coinbase dropped its plan to launch a lending program after the US Securities and Exchange Commission (SEC) threatened it with a lawsuit The Nasdaq-listed cryptocurrency exchange said that as it continues to seek...

Nike retains top spot among most marketable sports brands for 2021

US sportswear giant Nike has retained the top spot in SportsPros list of the Worlds 50 Most Marketable (50MM) brands, holding off challenges by rival sportswear brand and second-placer Adidas, Emirates, Santander, and Red...

Michael Jordan raises stake, assumes adviser role in sports gambling firm Sportradar

NBA legend Michael Jordan will increase his investment in Sportradar Group AG, the leading global provider of sports betting and entertainment products and services, and will serve as a special adviser to the companys...

UK industry group warns CO2 crisis poses a risk of meat shortage

An industry group has warned of carbon dioxide (CO2) shortage in the UK within the week due to a sharp rise in gas prices that could result in meat supply issues. The gas price hie has forced domestic energy suppliers...

Cargill to pay farmers $20 per metric ton of carbon emissions reduced

Cargill is planning to pay farmers $20 per metric ton of carbon emissions they reduce through regenerative agricultural practices. The company intends to pass the green credits on to its customers. The Cargill...

Politics

Nancy Pelosi, G7 Speakers visit 'Coronation Street' set following summit

US House Speaker Nancy Pelosi was among her fellow presiding officers in the G7 in attendance at the summit in the United Kingdom. Following the summit, the group was shown around the set of the popular British tv series...

Joe Biden: Former Israeli PM Benjamin Netanyahu mocks widely debunked manipulated video of POTUS

A manipulated video showing US President Joe Biden seemingly falling asleep during his meeting with the new Israeli Prime Minister Naftali Bennett made the rounds on right-wing social media. The manipulated video also...

Capitol insurrection: Former aide to Mike Pence says ex-VP is as responsible for the political violence

Former vice president Mike Pence was among the individuals being targeted by the pro-Trump mob that stormed the Capitol last January 6. However, despite Pences inevitable refusal to overturn the electoral results, Pences...

Kamala Harris to appear on 'The View' this week

This week, Vice President Kamala Harris will be making another stop by the popular daytime talk show, The View. Harris will be making her first appearance on the show as vice president on Friday. Harris will be...

Science

S. Korea's POSCO, Hyundai to use oyster shell waste for steelmaking

S. Korean steelmakers POSCO and Hyundai Steel Co. will start using oyster shells as a secondary base material for producing steel. Both firms have been developing a recycling technology with a local oyster shell...

S. Korea to develop solar-powered drone that could carry 20 kg to stratosphere

South Korea will invest 37.47 billion won in developing a solar-powered drone that could carry over 20 kilograms in the stratosphere and with natural disaster monitoring capability by 2025. The drone will serve as an...

S. Korean scientists develop 3D printing ink from sunflower pollen

A group of South Korean scientists from Nanyang Technological University in Singapore managed to develop 3D printing ink material from sunflower pollen. The research team led by professor Cho Nam-joon first incubated...

Kumho Petrochemical to produce eco-friendly rubber compound out of rice bran

Kumho Petrochemical Co. will produce an eco-friendly synthetic rubber compound made of rice bran-based bio-silica. Silica improves fuel efficiency, braking power, and wear resistance of synthetic rubber for...

From CRISPR to glowing proteins to optogenetics – scientists' most powerful technologies have been borrowed from nature

Watson and Crick, Schrdinger and Einstein all made theoretical breakthroughs that have changed the worlds understanding of science. Today big, game-changing ideas are less common. New and improved techniques are the...

Technology

Telegram update introduces new themes for private chats

The latest update on Telegram appears to be focused on giving users more options to customize their chats. People can now apply new themes to private chats, as well as use animated emojis and enable read receipts for group...

OnePlus 9T will not be released this year

To those waiting for the OnePlus 9T, it is time to reconsider their smartphone upgrade plans. The company recently announced the device is not in the pipeline. For years, OnePlus has had two major smartphone launch...

Google Pixel foldable phone codenamed ‘Passport’ will reportedly launch in late 2021

Talks about Googles rumored foldable smartphone have been renewed recently after a couple of potential clues surfaced online. Now, a long-time renowned leaker has weighed in, reporting that a device codenamed Passport is...

‘League of Legends’ will have heavier punishments for repeat ‘leavers’ and AFK offenders

Abruptly leaving a match or moving away from the keyboard (AFK) could affect other players, especially in online multiplayer games like League of Legends. So for repeat offenders, Riot Games confirmed it is planning to...

Samsung Galaxy S22 benchmark test hints at the use of Snapdragon 898 SoC

A Geekbench test result reportedly done for a device believed to be Samsung Galaxy S22 has appeared in the wild. And it could be one of the earliest confirmations that it will be powered by the upcoming Snapdragon 898 SoC,...
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