Tag Archives: Iraq

Top 10 Countries with the highest Proven Crude Oil Reserves

Top 10 Countries with the highest Proven Crude Oil Reserves

Venezuela - Crude Oil

Venezuela – Crude Oil

Business Insider- eholodny@businessinsider.com (Elena Holodny)2015-08-13

The world powers and Iran recently struck a deal to curb Iran’s nuclear program for at least 10 years in exchange for billions of dollars in relief from international sanctions. One of the most talked-about side effects of the deal is the reentry of Iranian crude on the global markets.

Interestingly, although Iran has a huge amount of oil, the Islamic republic doesn’t even make it into the top three when it comes to proven crude oil reserves.

Using the data provided by Barclays commodities analyst Michael Cohen, we put together a list of the 10 countries sitting on the greatest amounts of crude oil. Check the list here:-  Continue reading

The Global Drop in Oil Prices: Part 1 – Geopolitical consequences

Lower Oil Prices Carry Geopolitical Consequences

November 3, 2014 | Analysis by STRATFOR

The Global Drop in Oil Prices - Part 1Summary

Editor’s Note: The recent drop in global oil prices is affecting economies around the world. This series examines the reasons behind the falling prices and their effects on major energy consumers and producers. Part One discusses the structural changes in the oil market, particularly the growth in supply and the decline in demand.

Part Two will examine the countries likely to be most troubled by price drops, while Part Three will look at the countries likely to gain the most.

Since mid-June, the price of Brent crude oil has fallen by nearly 25 percent — going from a high of $115 to about $87 a barrel — and structural factors are causing concern among global oil producers that oil prices will remain near current levels through at least the end of 2015. This concern has caused several investment banks to slash their oil price outlooks for the immediate future. Stratfor believes that oil supplies will stay high as energy production in North America increases and OPEC countries remain hesitant or unable to cut production significantly. Moreover, in the short term, the Chinese economic slowdown and stagnant European economy will limit the potential for growth in oil demand. These factors could make it harder for global oil prices to rebound to their previous levels.   Continue reading

The Demise of the Nation State – Scotland on the Euphrates – By Uri Avnery

The Demise of the Nation State – Scotland on the Euphrates

20/09/14 –  Uri Avnery

TWO COUNTRIES competed this week for first place in news programs all over the world: Scotland and the Islamic State in Iraq and Syria.

There could not be a greater difference than between these two countries. Scotland is damp and cold, Iraq is hot and dry. Scotland is called after its whisky (or the other way round), while for ISIS fighters, drinking alcohol is the mark of unbelievers, who should lose their head (literally).

However, there is one common denominator of both crises: they mark the approaching demise of the nation-state.

MODERN NATIONALISM, like any great idea in history, was born out of a new set of circumstances: economic, military, spiritual and others, which made older forms obsolete.  Continue reading

U.S. and Iranian Realities – By George Friedman

Iran-map-region

U.S. and Iranian Realities

Stratfor – By George Friedman  – Tuesday, October 1, 2013

U.S. President Barack Obama called Iranian President Hassan Rouhani last week in the first such conversation in the 34 years since the establishment of the Islamic Republic. The phone call followed tweets and public statements on both sides indicating a willingness to talk. Though far from an accommodation between the two countries, there are reasons to take this opening seriously — not only because it is occurring at such a high level, but also because there is now a geopolitical logic to these moves. Many things could go wrong, and given that this is the Middle East, the odds of failure are high. But Iran is weak and the United States is avoiding conflict, and there are worse bases for a deal.          Continue reading

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