With the IPO for Aramco due later this year, a drone strike on its second largest facility sets the stage for the unravelling of the Petro Dollar on the International stage. A humanitarian crisis has beset Yemen since the 2015 Saudi-influenced civil war.
10 HOUTHI DRONES HIT THE SECOND LARGEST OIL PRODUCTION FACILITY IN SAUDI ARABIA
Ten drones delivered missiles to the second largest oil processing site in Saudi Arabia. Houthi rebels from Yemen, backed by Iran, took responsibility. Saudi Arabia produces about 1/10th of the world oil supply. However, the ruling family is readying to divest itself of Aramco (Saudi Arabian Oil Co.) with a initial public offering later this year.
Continue reading “Aramco Hit as Gulf Tensions Heighten”
STORMTROOPERS (Bloomberg Photo)
UPDATE 15 SEPTEMBER: Political turmoil engulfing this global financial center showed no signs of abating as tens of thousands of pro-democracy demonstrators marched Sunday in defiance of a police ban, with many venting their anger at Beijing just two weeks before China celebrates the 70th anniversary of the People’s Republic.
Continue reading “Hong Kong Demands 民主—Democracy”
On Friday 23 August Xi hit back. China announced retaliatory tariffs on the US threat to impose 30% import fees on goods Made in China. ‘
Fred Dufour | AFP | Getty Images
UPDATE 28 NOVEMBER
Even before Trump signed into law the legislation giving overt support to protests in Hong Kong yesterday, it had become clear that China was “Out of Ammo”. The most feared retaliation, that Beijing would sell its holdings of US Treasuries sending the dollar spinning, has been proven a fallacy. China sold 25% of its US reserves in 2019 without appreciable disruptions in the US economy. The halt of buying soy beans from US farmers has hurt. However, farming safeguards already in place appear to be holding. Finally, the threat to halt export of the so-called rare earth minerals is something Australia has already bested by going shopping somewhere else—Canadian miners take note.
Continue reading “Xi Strikes Back”
In a masterful strike, Trump took ‘The Art of the Deal’ international. Unable to regulate international corporations, he did the next best thing.
TRUMP: THE ART OF A DEAL WITH XI. Photographer: Nicolas Asfouri/AFP Getty Images
Tariffs and free trade agreements are Trump’s way of projecting the power of government over corporations that are American in name, but operate internationally to avoid US taxes. To close the loophole Trump will slap tariffs on goods designed in the USA, but made in China. As a sidebar he gets leverage over his #1 rival, China’s president Xi.
Continue reading “Trump Nails China”
In an open letter in over 30 Canadian Newspapers today, an oil industry PR executive argues for privileging 20th century solutions
Suncor Energy oil sands project near Fort McMurray, Alberta, 13 June 2017 (Photo: Larry MacDougal/AP)
Oil from Alberta’s Tar Sands will be worth as much as the sands that hold it, making it difficult to get the oil to market at a competitive price. That day is not far in the offing. Rather than increase pipe-line capacity, lets focus on dropping demand. How many electric cars do we need to get on the road to match the throughput of a pipeline reaching the Burrard Inlet, the home of more than 1 million Canadians? Damian Newman, president of an oil industry public relations firm, fails to factor this calculus in his open letter to all Canadians.
Continue reading “Not Any One Province or Pipeline, All Canadians Should Put the Interests of the Oil Industry First”
28 July 2019—China’s woes multiply as demonstrations in the streets of the Hong Kong ‘special zone’ continue for 8 weeks in a row. In the former British Colony residents have grown uneasy that the Communist government in Beijing will reneg on their promises of freedom and human rights for Hong Kong citizens.
AUGUST 2019 HONG KONG AIRPORT SWARMED BY DEMONSTRATORS. Photographer: Kyle Lam/Bloomberg
In what began as demonstrations to stop an extradition bill, concerns have now seen as engulfing the core ‘one country, two systems’ rule that will see Hong Kong joining China in 2047 without ‘special concessions.’ People of Hong Kong have taken to the streets to protest the sky-high housing prices and to make a show for free & elected government.
Continue reading “Hong Kong: Fighting in the Streets, Troops Massing on the Border, Airport Swarmed by Protesters”
With house prices hovering 13x over median household incomes in Vancouver, what do Modern Tram systems offer that Skytrain cannot deliver? In just two words—Affordable Housing!!
ALSTOM HYDROGEN FUEL CELL POWERED TRAIN
In a report (see page 12 in the linked agenda document) presented at Translink Mayors Council, June 2019, Translink summarily rejected the South Fraser Community Rail’s carefully wrought proposal for returning Interurban passenger service to the Fraser Valley. The report sees it as:
One of many ideas that will be included as part of Transport 2050 [review].
Continue reading “Translink Rejects Fraser Valley Interurban as a Replacement for Skytrain… But, What Do the Numbers Say?”