In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999. Continue reading
Of further interest regarding America’s drug problems and its origins is well explained in a book entitled “Red Cocaine: The Drugging of America and the West” by
Fentanyl is the synthetic opioid driving America’s public health crisis. Its cheap price, widespread use, addictive quality and deadly effect make it more dangerous than other narcotics classified by the DEA.
It is, ultimately, a chemical. And it’s being used as a weapon in China’s 21st Century Opium War against America. Continue reading
Australia this week moved a step closer to becoming a real problem for Qatar on the LNG market, after the second floating production, storage, and offloading vessel for the Ichthys gas field reached its destination.
The Ichthys Venturer joins the Ichthys Explorer at the field operated by Japan’s Inpex, with the first LNG shipment from the field scheduled for next spring.
The Venturer has a capacity of 1.12 million barrels of gas condensate and will process, stabilize, and store condensate it will receive from the other FPSO, and then load it on tankers. Continue reading
We are on the threshold of a new economics that would form the basis of a new public policy quite different from the one that was followed within the neo-classical paradigm that has held sway over the last six decades. Here I examine briefly the origins and nature of the latest crisis in the world capitalist economy and its implications for economic theory.
In the process of its growth, the world economy has undergone a structural change in the post-war period in terms of two important features. First, the multinational corporations that emerged in this period not only sold goods and services on a global scale but were able to achieve internationalisation in their production processes such that different components of a particular good could be manufactured in their facilities in different countries to take advantage of country specific resource endowments. This laid the basis of an unprecedented growth in productivity, and profits. Given the problem of investing these profits within the sphere of production, due to demand constraints, profits from the sphere of production began to flow into the financial sphere. Continue reading
After a year suffering the economic consequences of the oil price slump, OPEC is finally on the cusp of choking off growth in U.S. crude output.
The nation’s production is almost back down to the level pumped in November, when the Organization of Petroleum Exporting Countries switched its strategy to focus on battering competitors and reclaiming market share. As the U.S. wilts, demand for OPEC’s crude will grow in 2015, ending two years of retreat, the International Energy Agency estimates. Continue reading
A breakthrough in laser technology may give the Chinese military the ability to blind the sensors on enemy missiles or even satellites using a portable device the size of a suitcase, rather than the large container-sized version typically found on warships.
A research team led by Professor Li Zhiyuan with the Chinese Academy of Sciences’ Institute of Physics reported that they had reduced the sophisticated mechanism that generates a high-frequency laser down to a single piece of crystal.
This means the huge ultrafast laser generator that is used to render heat-seeking missiles useless, and which can be found on warships today, could be shrunk to the size of hand baggage and mounted on aircraft, tanks or even soldiers. Continue reading
In case you didn’t get the memo last week, there’s bad news for the prepper crowd. If you already didn’t tip off the federal government with your credit card or debit card transaction, or purchase on Amazon, they’ll be knocking on your door during a crisis either way.
(NaturalNews) In March 2012, President Obama quietly signed an Executive Order that has major implications should some sort of national emergency arise, such as enabling the federal government to take over management and distribution of all food, water and other resources.
In issuing the order, EO 13603, titled, “National Defense Resources Preparedness,” Obama claimed authority under the Defense Production Act of 1950, a Korean War-era statute (50 U.S.C.) (see it here) that gives the government the power to marshal whatever resources are necessary to protect and defend the country during “military conflicts, natural or man-caused disasters, or acts of terrorism within the United States,” the statute says. Continue reading
Essentially, OPEC has killed off the U.S. shale industry, which was predicted last year. See the OPEC category for further articles on Saudi Arabia’s economic warfare scheme against the United States.
There is new data out today. The EIA published their International Petroleum Statistics yesterday. The EIA also published their Drilling Productivity Report which gave their expected shale oil and gas production through September. Then this morning OPEC published their Monthly Oil Marketing Report with OPEC crude only production numbers through July.
First the Drilling Productivity Report. Of course most of the Drilling Productivity Report is projection, not history. And that projection goes through September 2015.
The EIA has the Bakken peaking in December and declining 107 thousand barrels per day since that point. A secondary peak was reached in April and declining steadily since then. Continue reading
As The National Interest previously reported, last month Russian Defense Minister Sergei Shoigu announced that Russia would resume production of the Tu-160 strategic bomber, a Soviet-era aircraft that is capable of carrying both conventional and nuclear weapons.
On Thursday, Col. Gen. Viktor Bondarev, the commander-in-chief of Russia’s Air Force, revealed that Moscow will purchase at least fifty of the Tu-160 strategic bombers once production resumes.
“No less than 50 aircraft over time will be purchased in order to cover the costs that will go into production,” Bondarev said, according to Russian state media outlets.
This will dramatically increase Russia’s bomber capabilities as only fifteen Tu-160s currently remain in service (about 35 were originally built, according to Russian media outlets). That is at least a 333 percent increase in the number of Tu-160s in Russia’s arsenal. Continue reading
Construction work has begun on the first factory in China’s manufacturing hub of Dongguan to use only robots for production, the official Xinhua news agency reported.
A total of 1,000 robots would be introduced at the factory initially, run by Shenzhen Evenwin Precision Technology Co, with the aim of reducing the current workforce of 1,800 by 90 per cent to only about 200, Chen Xingqi, the chairman of the company’s board, was quoted as saying in the report.
OPEC says the demand for oil – its oil – will rise during 2015 because the cartel is winning its price war against US shale producers by driving them out of business.
“Higher global refinery runs, driven by increased [summer] seasonal demand, along with the improvement in refinery margins, are likely to increase demand for crude oil over the coming months,” the cartel said in its Monthly Market Report, issued, April 16. Continue reading
The estimated size of an oil find near Gatwick Airport has been upgraded to 100 billion barrels by a company backing exploration of the area.
UK Oil & Gas Investments (UKOG) said the Horse Hill-1 well in the Weald Basin was now thought to hold 158 million barrels per square mile.
In May 2014, the British Geological Survey estimated the Weald Basin to hold around 4.4 billion barrels of shale oil. Continue reading
You may read part one and part two here:
In the previous installments of this series, we discussed the hidden and often unspoken crisis brewing within the employment market, as well as in personal debt. The primary consequence being a collapse in overall consumer demand, something which we are at this very moment witnessing in the macro-picture of the fiscal situation around the world. Lack of real production and lack of sustainable employment options result in a lack of savings, an over-dependency on debt and welfare, the destruction of grass-roots entrepreneurship, a conflated and disingenuous representation of gross domestic product, and ultimately an economic system devoid of structural integrity — a hollow shell of a system, vulnerable to even the slightest shocks.
This lack of structural integrity and stability is hidden from the general public quite deliberately by way of central bank money creation that enables government debt spending, which is counted toward GDP despite the fact that it is NOT true production (debt creation is a negation of true production and historically results in a degradation of the overall economy as well as monetary buying power, rather than progress). Government debt spending also disguises the real state of poverty within a system through welfare and entitlements. The U.S. poverty level is at record highs, hitting previous records set 50 years ago during Lyndon Johnson’s administration. The record-breaking rise in poverty has also occurred despite 50 years of the so called “war on poverty,” a shift toward American socialism that was a continuation of the policies launched by Franklin D. Roosevelt’s ‘New Deal’. Continue reading
Imagine if you will, a rising China, who already has over 90% of the rare earths under its control, producing or printing thousands upon thousands of military weapons.
Although easier said than done, theoretically, they could be the world’s most powerful military overnight should should they use this technology to their advantage and produce 25,000 stealth jets. This type of production capacity is surely around the corner, given they’ve already had 13 years of 3D printing technology and the storage capacity in thousands of miles of nuclear-attack hardened underground tunnel networks — also known as The Great Underground Wall of China.
Some would argue this is simply a reaction to U.S. ‘assertiveness’ in the region, however, those who have really been paying attention know it’s war preparations against the United States. After all, they have told us they would hurt us, be engaged in hand-to-hand combat with America in ten years. Action speaks louder than words and thus far they have proven intention by preparation.
3D printers are being deployed aboard the warships of the People’s Liberation Army Navy to replace crucial small parts, according to China’s Global Times on Jan. 8.
“Our biggest worry is the end of the liquidity cycle. The Fed is done. The reach for yield that we have seen since 2009 is going into reverse”, said Bank of America.
The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over coming months as market forces shake out the weakest producers, Bank of America has warned.
Revolutionary changes sweeping the world’s energy industry will drive down the price of liquefied natural gas (LNG), creating a “multi-year” glut and a mucher cheaper source of gas for Europe.
Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,“ he said.