“America is addicted to oil” So said President George W Bush, echoing a contemporary cover of The Economist, in his State of the Union Address on January 31st 2006. Although President Bush’s speech was a lament for the fact that the United States is the world’s biggest consumer of oil (reaching 19.4 million barrels per…
Petrodollars have dominated the global energy markets for more than 40 years. But now, China is looking to change that by replacing the word dollars for yuan. Nations, of course, have tried this before since the system was set up by former US Secretary of State Henry Kissinger in tandem with the House of Saud back…
If you are looking for the latest breakthroughs in trans-Eurasian geoeconomics, you should keep an eye on the East – the Russian Far East. One interesting project is the new state-of-the-art $1.5 billion Bystrinsky plant. Located about 400 kilometers from the Chinese border by rail and tucked inside the Trans-Baikal region of Siberian, it is now finally open…
An armed conflict between Riyadh and Tehran would have a major impact on oil markets and the global economy. RT asked experts what a war between the two Middle East superpowers would mean for crude prices. If a conflict happens, oil prices could increase 500 percent. “Energy prices will seriously depend on the severity of…
The defeat of ISIS and the demise of this quasi-state is going to change the conflicts in Iraq and Syria. The conflicts between the previously neutral or previously partnered sides now take center stage. In the last months we saw tensions rising between the Syrian Arab Army and Syrian Democratic Forces, between Iraq and Iraqi…
The US-backed Syrian Democratic Forces (SDF) have allegedly handed over the Tabiyah oil field and its nearby facilities to the Syrian-Iranian-Russian alliance following a visit of Syrian and Russian representatives to the SDF-held city of Hasakah. According to reports, units of the Syrian Arab Army (SAA) with some unidentified “Russians” have already entered the oil…
