The largest economy in the Middle East has second thoughts about its ties to the West.
As the world’s biggest net importer of crude, China is in a vulnerable position: utterly dependent on oil imports, at a time when its economy is beginning to wobble.
Executive Report, ISA Intel: OPEC’s 2nd largest producer has the 5th largest reserves in the world and is one of the last places with enormous amounts of underexplored low-cost oil.
By Nick Cunningham: OPEC’s second largest oil producer, Iraq, is in severe disarray just as the world has come to rely on its oil for greater energy supplies.
What would have been a demented propagandist’s flight of fancy a decade ago has become reality: For the first time in history, the US imports more oil from our dear and reliable neighbor Canada than from OPEC. With major consequences.
That the US could unleash a flood of oil from the Strategic Petroleum Reserve to drive down prices has been pushed for weeks, most recently by George Soros, but has been dismissed as not a serious option. Then Obama went to Saudi Arabia.
Despite the continued influx of investment in Iraq, the situation is untenable and each month moves closer to an all-out civil war. First, we’ll give you the security run-down, then we’ll get into the oil.
It’s not like Europe is out of the woods, after years of recession, lurching from bank bailout to country bailout, and sweeping remaining fetid matters under the rug. But its banks are now sinking deeper into an even greater morass: the emerging-markets fiasco.
Our HUMINT has been in discreet talks with high-level members of Turkey’s leading family dynasties and other well-placed figures to determine how Prime Minister Erdogan might emerge from the intensifying power struggle.
Turkish Prime Minister Erdogan, his party (the AKP), and the business elite attached to them have become targets of a focused corruption scandal that he may not survive. It should shake investor confidence to its core.