The civil war in Syria, one of the few lasting legacies of the Arab Spring, has been under way for more than two years. There has been substantial outside intervention in the war. The Iranians in particular, and the Russians to a lesser extent, have supported the Alawites under Bashar al Assad. The Saudis and some of the Gulf States have supported the Sunni insurgents in various ways. The Americans, Europeans and Israelis, however, have for the most part avoided...
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One of the saddest events in history was the division of the former European colonial empires, which once controlled much of the world. While the end of European colonialism was a just and needed development, the manner in which it was carried out has caused decades of civil wars and bloody conflicts. With wars still raging, it’s easy to wonder if perhaps we should redraw map lines to better reflect the ethnicity and religion...
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I would be surprised Today Jeff Currie, Goldman Sachs chief commodity strategist put forth some comments regarding the Oil market. Jeff Currie from Frankfurt said he wouldn’t be surprised “if we woke up in summer and oil cost $150 “. Oil high established 1st Quarter The counter argument to that statement would be the following: Brent has put in its high for the year in the first quarter the past two years, and actually put...
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EIA Report The weekly EIA report came out today and one of the noteworthy data points was the Cushing, Oklahoma storage numbers. Already at a record, Cushing added another 1.8 million barrels to storage sending total Cushing stocks to 51.9 million barrels of oil in storage facilities at the energy hub. There has been 6.3 million barrels of oil added to Cushing during the last 6 weeks. To put these build numbers into...
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Turkey’s multi-billion-dollar gold sales to neighboring Iran could put the country on a collision course with its close ally, the United States, when high-ranking diplomats from the two countries hold talks in Washington. Turkish Foreign Ministry Undersecretary Feridun Sinirlio?lu was scheduled to be in Washington from January 14-16 for discussions with State Department officials, including US Deputy Secretary of State William Burns. The gold sales were expected to come up during the talks, which...
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The situation in Syria appears to get worse by the day. I wanted to clarify some remarks I made regarding my earlier article about Syria. I mentioned that the West should use the Alawites strategic position as a bargaining chip. There are a few points I wanted to add on that statement and the article in general. In terms of that comment: We live in a cruel world, I look at things as a...
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The United States now looks primed to go over the fiscal cliff. As the debate rages on where to cut spending and where to raise revenues, many people are beginning to question the wisdom of handing out billions of dollars in foreign aid, often to governments that are not necessarily friendly with the United States or strong supporters of American interests. Other critics question the actual effectiveness of the aid provided, and argue that...
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Syrian Alawites control the coast and the key port of Latakia. The city’s importance as a harbour dates back to Phoenician era. Another key city and port is Tartarus. Tartarus hosts a very important Russian naval base. The coastal region is largely Alawite, mountainous, and ideal for defense. In fact, our sources tell us that if Assad loses Damascus he intends to retreat to the region with his top military units and chemical weapons. This is where America and the world hold some important...
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Syria’s long time strongman Bashar Al Assad is almost finished, according to the ‘experts’. Assuming these experts are correct the question is ‘what happens next in Syria’? Frankly, the answer to that question is looking scary. Until the past few weeks, I have refrained from criticizing the Obama administration’s approach to the Syrian conflict, as no one else had offered a good solution to an extremely complex problem. I have been very critical of the...
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There’s been plenty of talk about potentially radical US foreign policy changes as a result of the shale boom. While one shouldn’t expect any dramatic US foreign policy move away from the Middle East, factors are influencing a greater focus on Asia. Only one thing is certain in this transforming world: The shale boom is real and the implications are many and difficult to predict. In an exclusive interview with Oilprice.com publisher James Stafford,...
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By EconMatters WTI closed November just shy of $89 a barrel on hopes of an improving economy. I think there is an argument for an improving economy in 2013, but it is just too early to tell how things are going to come together with the economy, and all the ramifications of basically an anti-business and social agenda political leadership of the last four years. I am not making a political statement that there...
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