Tag Archives: Russia

Video: Trade: Train from China to Germany travels through Kazakhstan, Russia, Belarus and Poland

This train from China to Germany is amazing… view video to the end

Distance traveled is 10,214 km. It started operation on the 13th of June 2018. It’s a goods transporting train plying from China to Europe (Germany) and vice versa carrying at least 200 container carriages per trip and there are plans to increase it to 300. Traveling time is about 14 days. If it’s by ship it takes about 2 months. See this spectacular video till the end.       Continue reading

Petroleum and crude oil – the future of oil production | DW Documentary Video

Published on Mar 17, 2019  —  [Online until: April 17, 2019]

The market for oil is volatile. The transition from petroleum to renewables is in full swing, and global demand for oil could fall faster than predicted. [Online until: April 17, 2019].

When the price of crude oil tumbled dramatically between 2014 and 2016, it heralded the demise of an economic and geopolitical world order in place since the end of World War II. In the last few decades, fracking technology has turned the US into the world’s largest oil producer. Against that backdrop, the move towards renewable energies and away from fossil resources is making dramatic steps forward. A study published back in September 2012 made headlines by predicting an imminent drop in oil prices.          Continue reading

Iran Will Be Trump’s Nemesis – M K Bhadrakumar | Indian Punchline

Iran Will Be Trump’s Nemesis – M K Bhadrakumar | Indian Punchline

The White House readout of USA President Donald Trump’s phone call to Prime Minister Narendra Modi on Wednesday highlighted that the latter “thanked” Trump for his “strong leadership uniting the world against the North Korean menace.”

Modi must be the only world leader who has given such fulsome praise to Trump for his performance vis-a-vis North Korea. And, Trump naturally felt elated.

In reality, though, it wasn’t particularly difficult for Modi to say such a strange thing, because India has no role to play in resolving the North Korea problem.        Continue reading

Brexit – Is The Genie Coming Out Of The Bottle? – By David Jessop

Brexit – Is The Genie Coming Out Of The Bottle?

By David Jessop – Caribbean News Service (CNS) Contributor

David Jessop

David Jessop

LONDON, Jun 04 2016 – If the opinion polls are to be believed, the British electorate may vote by a small majority to leave the European Union (EU) in the country’s June 23 referendum.

The latest UK polls suggest that 45 per cent of those voting will chose to go, while 42 per cent will say they want to remain. At present 13 per cent say they don’t know. The concern is that if young people, who are predisposed to vote to remain, cannot be mobilised, and the leadership of the Labour Party do not do more to encourage its members to vote in the same way, the United Kingdom will be plunged into a period of economic and political turmoil with unpredictable consequences beyond it shores.    Continue reading

The Oil Pricequake: Political Turmoil in a Time of Low Energy Prices

The Oil Pricequake: Political Turmoil in a Time of Low Energy Prices

As 2015 drew to a close, many in the global energy industry were praying that the price of oil would bounce back from the abyss, restoring the petroleum-centric world of the past half-century.  All evidence, however, points to a continuing depression in oil prices in 2016 — one that may, in fact, stretch into the 2020s and beyond.  Given the centrality of oil (and oil revenues) in the global power equation, this is bound to translate into a profound shakeup in the political order, with petroleum-producing states from Saudi Arabia to Russia losing both prominence and geopolitical clout.

To put things in perspective, it was not so long ago — in June 2014, to be exact — that Brent crude, the global benchmark for oil, was selling at $115 per barrel.  Energy analysts then generally assumed that the price of oil would remain well over $100 deep into the future, and might gradually rise to even more stratospheric levels.   Continue reading

India and APEC: Time to get on the Bus – By Dr. Dhanpaul Narine

India and APEC: Time to get on the Bus

Dr. Dhanpaul Narine

Dr. Dhanpaul Narine

By Dr. Dhanpaul Narine

Smart economics suggests that India should be a member of APEC or Asia Pacific Economic Cooperation. When India does well the world benefits.   

Prime Minister Narendra Modi has been making the right statements that might make this possible. In welcoming the Chinese President Mr. Xi Jinping to India Mr, Modi outlined the special chemistry that exists between both countries. He said, ‘ India and China are bound by history, connected by culture and inspired by rich traditions. Together they can create a bright future for the entire mankind.’

If this is a sales pitch or a form of ‘Modinomics’ it caught the attention of the international community. Mr Modi continued by saying that India and China can ‘ script history and make a better tomorrow for all mankind.’ Continue reading

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 Magician’s Apprentice – by Uri Avnery

The Magician’s Apprentice – by Uri Avnery  –  22/08/15

Netanyahu

Binyamin Netanyahu

ONE HAS to choose: Binyamin Netanyahu is either incredibly shrewd or incredibly foolish.
Take his Iran policy. Actually, there is little to choose from. Netanyahu has no other policy to speak off.

According to him, Iran constitutes a mortal danger to Israel. If it obtains a nuclear weapon, God forbid, it will use it to annihilate Israel. It must be stopped by any means, preferably by American armed intervention.

This may be quite wrong (as I believe). But it makes sense.  So what did Netanyahu do?

FOR YEARS, he alarmed the world. Every day the cry went out: Save Israel! Prevent the destruction of the Jewish State! Prevent a Second Holocaust! Prevent Iran from producing The Bomb!   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

Cheaper oil- Many winners, a few bad losers

Cheaper oil- Many winners, a few bad losers

A lower price will boost the world economy and harm some unpleasant regimes—but there are risks

Crude oil prices -2014

Crude oil prices -2014

Oct 25th 2014 | The Economist magazine

THE collapse of the Soviet Union in 1991 had many causes. None was as basic as the fall in the price of oil, its main export, by two-thirds in real terms between 1980 and 1986. By the same token, the 14-year rule of Vladimir Putin, heir to what remained, has been bolstered by a threefold rise in the oil price.

Now the oil price is falling again. Since June, it has dropped from about $115 for a barrel of Brent crude to $85 or so—a reduction of roughly a quarter. If prices settle at today’s level, the bill for oil consumers will be about $1 trillion a year lower. That would be a shot in the arm for a stagnating world economy. It would also have big political consequences. For some governments it would be a rare opportunity; for others, a threat.

The scale of shale

Predicting oil prices is a mug’s game (we speak from experience). The fall of the past three months is partly the result of unexpected—and maybe short-lived—developments. Who would have guessed that chaotic, war-torn Libya would somehow be pumping 40% more oil at the end of September than it had just a month earlier? Saudi Arabia’s decision to boost output to protect its market share and hurt American shale producers and see off new developments in the Arctic was also a surprise. Perhaps the fall was exaggerated by hedge-fund investors dumping oil they had been holding in the false expectation of rising prices.

Geopolitical shocks can surprise on the upside as well as the down. Saudi Arabia may well decide to resume its self-appointed post as swing producer and cut output to push prices up once more. With war stalking Iraq, Libya still fragile and Nigeria prey to insurgency (see article), supply is vulnerable to chaotic forces.

But many of the causes of lower prices have staying power. The economic malaise weighing down on demand is not about to lift, despite the tonic of cheaper oil (see article). Conservation, spurred by high prices and green regulation, is more like a ratchet than a piece of elastic. The average new car consumes 25% less petrol per mile than ten years ago. Some observers think the rich world has reached “peak car”, and that motoring is in long-term decline. Even if they are wrong, and lower prices encourage people to drive more, energy-saving ideas will not suddenly be uninvented.

Much of the extra supply is baked in, too. Most oil investment takes years of planning and, after a certain point, cannot easily be turned off. The fracking revolution is also likely to rage on. Since the start of 2010 the United States, the main winner, has increased its output by more than 3m barrels per day to 8.5m b/d. Shale oil is relatively expensive, because it comes from many small, short-lived wells. Analysts claim that a third of wells lose money below $80 a barrel, so shale-oil production will adjust, helping put a floor under the price. But the floor will sag. Break-even points are falling. In past price squeezes, oilmen confounded the experts by finding unimagined savings. This time will be no different.

For governments in consuming countries the price fall offers some budgetary breathing-room. Fuel subsidies hog scandalous amounts of money in many developing countries—20% of public spending in Indonesia and 14% in India (including fertiliser and food). Lower prices give governments the opportunity to spend the money more productively or return it to the taxpayers. This week India led the way by announcing an end to diesel subsidies. Others should follow Narendra Modi’s lead.

The axis of diesel

For those governments that have used the windfall revenues from higher prices to run aggressive foreign policies, by contrast, things could get uncomfortable. The most vulnerable are Venezuela, Iran and Russia.

The first to crack could be Venezuela, home to the anti-American “Bolivarian revolution”, which the late Hugo Chávez tried to export around his region. Venezuela’s budget is based on oil at $120 a barrel. Even before the price fall it was struggling to pay its debts. Foreign-exchange reserves are dwindling, inflation is rampant and Venezuelans are enduring shortages of everyday goods such as flour and toilet paper.

Iran is also in a tricky position. It needs oil at about $140 a barrel to balance a profligate budget padded with the extravagant spending schemes of its former president, Mahmoud Ahmedinejad. Sanctions designed to curb its nuclear programme make it especially vulnerable. Some claim that Sunni Saudi Arabia is conspiring with America to use the oil price to put pressure on its Shia rival. Whatever the motivation, the falling price is certainly having that effect.

Compared with these two, Russia can bide its time. A falling currency means that the rouble value of oil sales has dropped less than its dollar value, cushioning tax revenues and limiting the budget deficit. The Kremlin can draw on money it has saved in reserve funds, though these are smaller than they were a few years ago and it had already budgeted to run them down. Russia can probably cope with today’s prices for 18 months to two years, but the money will eventually run out. Mr Putin’s military modernisation, which has absorbed 20% of public spending, looks like an extravagance. Sanctions are stifling the economy and making it hard to borrow. Poorer Russians will be less able to afford imported food and consumer goods. If the oil price stays where it is, it will foster discontent.

Democrats and liberals should welcome the curb the oil price imposes on countries like Iran, Venezuela and Russia. But there is also an increased risk of instability. Iran’s relatively outward-looking president, Hassan Rouhani, was elected to improve living standards. If the economy sinks, it could strengthen the hand of his hardline opponents. Similarly, a default in Venezuela could have dire consequences not just for Venezuelans but also for the Caribbean countries that have come to depend on Bolivarian aid. And Mr Putin, deprived of economic legitimacy, could well plunge deeper into the xenophobic nationalism that has fuelled his campaign in Ukraine. Cheaper oil is welcome, but it is not trouble-free.

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