“No battle plan survives the first shot.” This quote describes the predicament in which both sides of the Russia-Ukraine conflict find themselves.
The Russia-Ukraine conflict saw a major escalation this week. With the world economy on the brink, we’re in for a disquieting autumn.
War, civil strife and resource limits in energy, water and food are increasingly undermining the ability of governments to control the territory and populations over which they claim authority.
A weekly review: Oil and the Global Economy, The Middle East and North Africa, China, Russia/Ukraine, Greece, The Briefs.
Mid-Week Update. Energy prices continued to fall this week with New York futures trading below $87 a barrel on Wednesday and London oil falling to a close of $91.37.
The number of countries with fossil fuel conflicts and wars is increasing. Libya, Sudan, Egypt (Sinai), Yemen, Syria, Iraq and now Ukraine. The result is that many innocent people die and that actual oil/gas production drops.
A weekly update including Oil and the Global Economy, The Middle East & North Africa, China, Ukraine, Quote of the Week, The Briefs.
There is a case regarding market efficiency for overturning America’s oil export ban, but this is NOT the one the industry is using in its public relations campaign. That’s because increased efficiency in the world oil market would actually make the country’s oil supply more vulnerable to events abroad.
•Why US fracking companies are licking their lips over Ukraine •Putin tells Europe Ukraine gas debt ‘critical’, transit threatened •Cheniere cheif plays down US gas claims •The Absurdity of US Natural Gas Exports •Everyone’s getting excited about US oil independence. Not so fast. •Russia’s South Stream pipeline in deep freeze as EU tightens sanctions noose
If the US could supply Europe with large amounts of fuel, that would reduce the Continent’s dependency on Russia while depriving Putin of needed revenues.
As a former correspondent in Kiev, Moscow and Georgia I find the attempt to link the Ukraine conflict with pipelines and natural resources is highly debatable.
There is no U.S. oil and gas export "weapon" to aim at Russia to counter its moves in the Ukraine. The U.S. isn’t even supplying its own needs. But you wouldn’t know that from media reports and editorials in the last week.