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eyadalhasan

How Saudi Arabia Turned Its Greatest Weapon on Itself - 0 views

www.nytimes.com/...greatest-weapon-on-itself.html

economy Saudi petroleum

shared by eyadalhasan on 17 Mar 16 - No Cached
  • eyadalhasan on 17 Mar 16
     
    FOR the past half-century, the world economy has been held hostage by just one country: the Kingdom of Saudi Arabia. Vast petroleum reserves and untapped production allowed the kingdom to play an outsize role as swing producer, filling or draining the global system at will.
wmulnea

AS Macro Key Term: Spare Capacity | tutor2u Economics - 0 views

beta.tutor2u.net/...-macro-key-term-spare-capacity

shared by wmulnea on 07 Feb 15 - No Cached
  • wmulnea on 07 Feb 15
     
    Geof Riley explains the term "spare capacity" at a macro-economic level. This brief article explores the pros and cons of producing a product "below the maximum sustainable level of production," and helps to explain why the term is so prevalent in the petroleum market.
wmulnea

OPEC and oil prices: Leaky barrels | The Economist - 1 views

www.economist.com/...dermining-cartel-leaky-barrels

shared by wmulnea on 05 Feb 15 - No Cached
  • OPEC, which produces about a third of the world’s daily consumption of 90m barrels of crude oil
  • cartel
  • anti-glut group
  • ...6 more annotations...
  • the country will produce 14m barrels a day (b/d) next year, on a par with Saudi Arabia
  • Iraqi oil exports, stricken by the war and its aftermath, are also set to increase.
  • Libya could be another source of production: its exports have collapsed to only a few hundred thousand barrels a day, against 1.6m in June last year.
  • OPEC’s best hope is continued American protectionism. Any easing of the restrictions on the export of liquefied natural gas (LNG) or crude will exert more downward pressure on the oil price.
  • But that would cede market share to their hated rivals, Iran and Iraq.
  • America’s domestic production of crude (and gas, which displaces some oil) is rocketing.
  • wmulnea on 05 Feb 15
     
    This article briefly addresses the current global petroleum market, outlining the top national producers and their current import/export strategies. The article is a good overview of the global politcs affecting oil prices.
mcooka

17 years after war - Yugoslavia again protesting NATO - Workers World - 0 views

www.workers.org/...goslavia-again-protesting-nato

war nato workers world

shared by mcooka on 24 Mar 16 - No Cached
  • Home » Global » 17 years after war — Yugoslavia again protesting NATO 17 years after war — Yugoslavia again protesting NATO By Heather Cottin posted on March 22, 2016 Share On March 24, 1999, the U.S. led its European NATO allies in a 78-day bombing campaign targeting
  • Serbia in order to destroy Yugoslavia, the last socialist country holding out in Europe. NATO planes bombed hospitals, factories, schools, trains, television stations, bridges and homes, killing thousands of Yugoslavs.
  • n 2000, the same NATO forces destabilized what remained of Yugoslavia — the republics of Serbia and Montenegr
  • ...5 more annotations...
  • ugoslavia was an independent and relatively prosperous country. With no Soviet Union after 1991, Yugoslavia was vulnerable to the powerful imperialist countries in Western Europe and the United States, which provoked and exacerbated disputes among the various Yugoslav peoples
  • NATO’s pattern for the destruction of Libya and Syria — and also of Iraq and Afghanistan, with variations
  • cialism in Yugoslavia produced artists and intellectuals, free health care, zero unemployment, free education, excellent public transportation and advanced industrial and agricultural developmen
  • After the destruction of Milosevic and his party, neoliberal forces in Serbia and the other republics privatized the health care system, sold off the mines, and closed automobile, petroleum and other industries. Now Bosnia has an unemployment rate of 43 percent, Croatia’s is 19 percent, and tiny Kosovo’s is 45 percent. Kosovo hosts the largest U.S. military base in the Balkans, Camp Bondsteel, which protects Kosovo’s criminal government and oversees NATO control in the Balkans.
  • n the U.S. in 1999-2001, the International Action Center and Workers World Party played a leading role among those who stood firm against expanding NATO’s mayhem and slaughter in Yugoslavia.
  • mcooka on 24 Mar 16
     
    This is an article about Yugoslavia which doesn't want the interference of NATO in their lives any more. NATO and Yugoslavia gets into details about foreign policy 
aavenda2

King Salman must reform Saudi Arabia's economy - before it's too late - 1 views

theweek.com/...i-arabias-economy--before-late

saudi arabia economy petroleum

shared by aavenda2 on 05 Feb 15 - No Cached
  • aavenda2 on 05 Feb 15
     
    Diversifying the private sector In an economy where oil generates 90% of all government income is no easy task. This article touches on the future of Saudi Arabia and its potential economic and unemployment risks if the country does not seek new ways of generating revenue and creating non-oil related jobs.
wmulnea

Saudis block OPEC output cut, sending oil price plunging | Reuters - 0 views

uk.reuters.com/...-meeting-idUKKCN0JB0M420141127

shared by wmulnea on 05 Feb 15 - No Cached
  • This outcome set the stage for a battle for market share between OPEC and non-OPEC countries, as a boom in U.S. shale oil production and weaker economic growth in China and Europe have already sent crude prices down by about a third since June.
  • Saudi Arabia blocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to arrest a slide in global prices, sending benchmark crude plunging to a fresh four-year low.
  • "It is a new world for OPEC because they simply cannot manage the market anymore. It is now the market’s turn to dictate prices and they will certainly go lower," said Dr. Gary Ross
  • ...6 more annotations...
  • and Algeria had calling for output cuts of as much as 2 million bpd.
  • The wealthy Gulf states have made clear they are ready to ride out the weak prices that have hurt the likes of Venezuela and Iran
  • hoped that lower prices would help drive some of the higher-cost U.S. shale oil production out of the market.
  • The Organization of the Petroleum Exporting Countries accounts for a third of global oil output.
  • A price war might make some future U.S. shale oil projects uncompetitive due to high production costs, easing competitive pressures on OPEC in the longer term.
  • "We interpret this as Saudi Arabia selling the idea that oil prices in the short term need to go lower, with a floor set at $60 per barrel, in order to have more stability in years ahead at $80 plus," said Olivier Jakob from Petromatrix consultancy.
  • wmulnea on 05 Feb 15
     
    This article suggests that OPEC is losing control of global oil prices. The article addresses budget considerations for smaller OPEC producers, like Venezuela, and the battle over market share between OPEC and gulf producers.
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