President Donald Trump last week hinted that the US would wade into the oil price war between Saudi Arabia and Russia at the appropriate time, saying low gasoline prices were good for American consumers despite hurting the industry. US President Donald Trump was quite happy with Saudi Arabia’s plans to oust Russia from certain oil […]
US President Donald Trump used to complain about the high oil prices that came as a result of the OPEC+ agreement, which saw many oil-exporting countries cut crude production. Now, however, is unhappy with the anomalously low price of black gold that is threatening to kill the American shale oil industry. Commenting on the ongoing […]
In 2014, shale drillers were pushed to the brink of oblivion by low oil prices, and today with prices nearing similar levels it seems the sector has not learned its lesson. It feels like 2014 for the oil industry all over again, except this time, things could get even worse. Most US shale wells have […]
Plummeting oil prices have sparked another round of predictions about the economic collapse of Russia – this time from US President Donald Trump, who sounded a lot like his predecessor Barack Obama on the subject. The price of crude oil has crashed to $20 this week, due to a one-two punch of Saudi Arabia flooding […]
Global stock markets hit bear territory this week, with oil prices experiencing their biggest plunge since the 1991 Gulf War. Boom Bust is joined by Professor Richard Wolff of the Economic Update to discuss the ongoing oil crisis. He explains that the US, which wanted “energy independence,” decided 10-20 years ago to go into the […]
Russia more than doubled crude oil supplies to the United States and Britain in 2019, data from the Federal Customs Service (FCS) has revealed. A fall in prices for the Russian Urals oil, combined with US sanctions against Venezuela and Iran, were among the reasons for such an increase in purchases.
In December, US President Donald Trump signed the National Defence Authorization Act for Fiscal Year 2020, which, among other things, stipulates sanctions against the Nord Stream 2 gas pipeline. The US also threatened to sanction any company or individual involved in providing services on the project. Austrian Foreign Minister Alexander Schallenberg has lashed out at […]
The TurkStream pipeline, supplying Russian gas to Turkey under the Black Sea, will boost energy security of entire southern Europe and the US won’t interfere with it, said Sakir Arikan, managing director of TurkAkim Gas. The much-anticipated 930km pipeline was launched by Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan, during a […]
The Nord Stream 2 pipeline is going to be completed despite the latest US sanctions, former US diplomat Jim Jatras told RT, adding that the last-ditch attempt to derail its launch is a gesture of despair by Washington.
Earlier US President Donald Trump enacted the $738 billion National Defence Authorization Act (NDAA), a military budget package for the coming year that includes sanctions against the Nord Stream 2 gas pipeline. Russian Foreign Ministry spokeswoman Maria Zakharova commented on new US sanctions against the Nord Stream-2 and Turkish Stream pipelines, saying that the state, […]
As the US braces to slap sanctions on European firms building the last leg of the Russia-Germany Nord Stream 2 pipeline, a senior MP in Berlin argues that formal protests don’t work anymore – but a strong response could.
As Prime Minister Boris Johnson gears up for a snap election, his government made a surprise U-turn on shale gas extraction, citing public concerns and technological limits on predicting the impact of fracking on the environment.
The US Congress has moved forward with legislation to impose sanctions on the Nord Stream 2 pipeline project in defiance of criticism from Washington’s allies in Europe, as the joint venture brings together Russia’s Gazprom, Germany’s Uniper and Wintershall, Austria’s OMV, France’s Engie, and Anglo-Dutch Royal Dutch Shell.
Washington has repeatedly threatened to impose sanctions on all parties related to or working on Nord Stream 2, with President Donald Trump accusing Germany of being a “captive” of Russia and urging Berlin to halt its cooperation on the $11-billion project.
The German Ambassador to the United States has asked the US Congress to hold back new sanctions against two of Russia’s biggest gas corporations, as further penalties may put energy security of the European Union in jeopardy.