Geopolitics & Military

Budapest “Nabucco Summit” to turn pipedream into reality

by

With U.S. and EU participation, a vital meeting in the Hungarian capital next January will seal commitments for the long-contemplated Turkey-Bulgaria-Romania-Hungary-Austria (Nabucco) gas pipeline. Opposition from Russia’s mighty Gazprom, uncertainty surrounding relations with Iran, and the roiling world economic turmoil cast doubt on the project’s future.

The crumbling of China’s export market

by

The parallels between China’s precarious social and economic future based solely on exports and our own societies entirely dependent on fossil fuel as a driver for growth are striking. China now needs to focus on what’s beyond expanding its economy through exports and manufacturing, while all of us need to focus on what’s beyond growth in a crude oil based economy. Peak oil is occurring now; the economic repercussions are a symptom.

Iraq’s Oil: The Greatest Prize Of All?

by

The subject of Iraqi oil is one which has fascinated me for a number of years, so in this post I’ll outline why I believe that Iraq probably has the world’s largest oil reserves – or, as Daniel Yergin once said of the middle east, it is “the greatest single prize in all history” (echoing a similar statement by George Kennan at the end of world war 2).