The dip came as a new COVID-19 strain sparked fears of renewed lockdowns and demand destruction
World crude oil markets crashed on Friday by more than 10 per cent. For the first time since late September, West Texas Intermediate, the U.S. crude, tumbled below $70 a barrel, while the global benchmark, Brent, slumped to less than $75 a barrel. This crash wasn’t anticipated. The relief didn’t just come from the co-ordinated…
Given Biden’s age and niggling concerns therein, there’s a non-trivial chance he won’t see full term
Just a year after giving Donald Trump his electoral walking papers, the Democrats are in some degree of disarray in the United States. It’s still early days and things may turn around before the 2024 election, perhaps even in time for the 2022 midterm elections in the U.S. But the Democrats’ jubilant triumph of 2020…
U.S. "commitment" to tackle climate change crumbles in the face of climate poverty
With the possibility of co-ordinated moves by major crude-oil consuming nations, the markets took a hit last week. On Friday, oil prices were down four to six per cent. Strong demand growth and a tight leash on global supplies have driven the oil markets in recent months. New COVID-19 lockdowns in parts of the world…
Most likely course of action is a release of oil from emergency reserves
U.S. President Joe Biden must act – and act quickly – to rein in the crude oil markets. Pressure is coming from all sides, including from his Democratic Party. Last week, 11 Democratic senators, including several known for their concerns on climate change, urged Biden in a letter to act quickly. “As the United States…
Much of what’s presented as news now is better described as narrative spinning
If you follow American news, you’ve probably come across many assertions that by mid-century the United States is set to become a “majority-minority” country. For the first time since its founding, whites will no longer form a majority of the population. This has been greeted with a range of reactions. Some people are dismayed, or…
It is defying oil-consuming nations to increase output, for now
A tug of war has erupted on the world oil market. Despite growing pressure from major crude-oil consuming nations, the Organization of Petroleum Exporting Countries and its allies in the expanded OPEC+ announced they would stick to their original plan by increasing output by only 400,000 barrels per day (bpd). OPEC+ members seemed to be…
Policing is fraught with physical dangers that most of us never see. Then there's the psychological trauma
The attack on the United States Capitol in Washington and its aftermath have taken a toll. Unfortunately, the Jan. 6 incident will remain remote and extraordinary for most. The incident has been politicized, sensationalized and reconstructed, but its tragic impact on those on the front lines is undeniable. Metropolitan Police Officer Kyle DeFreytag was found…
Opposition to the Communist Party of China’s aggression needs to be multilateral
The Chinese economy is growing and surpassing the United States economy in size. That stature, with its consequent soft and hard power, means opposition to the Communist Party of China’s regime needs to be multilateral. No matter how much unipolarity the U.S. has enjoyed in recent decades, it can’t go it alone and would benefit…
The planet is watching as China and the U.S. prepare for all possibilities
The hasty new geopolitical alliance of Australia, the United Kingdom and the United States (AUKUS) is clearly a change of strategy designed to enhance security in the Indian and Pacific Oceans. The alliance envisages the United States and Great Britain providing Australia with the technology to develop nuclear-powered submarines, among other things. The U.S. is…
The reality is, Canadians have a significant stake in the United States oil and gas industry
By Mark Milke and Lennie Kaplan Canadian Energy Centre One critical problem for political and business leaders is getting people to think outside their local box. While many people might prefer a local restaurant or coffee shop to a national chain, international trade is the very reason a Canadian restaurant can offer inexpensive vegetables in…