In the short-term his political base may be happy, but in the long term, once again Trump has shown that by opening his mouth he has shot himself in the foot.
As world leaders converged on the Swiss town of Lausanne over the weekend, their historic deliberations about Iran’s nuclear programme were said to have reached the “end-game” before the deadline at the end of the month.
Last week we reached an unwelcome milestone which should send alarm bells ringing in every capital across the globe.
More on the growing Iranian crisis. Brent crude is rising this morning due to worries over serious disruptions to the supply of crude after Iran warned its Arab neighbours of “consequences” if they raised oil output to replace Iranian loses through international sanctions. As the US has increased diplomatic pressure on countries that import Iranian … Read More
I remember years ago going to a lecture by a senior executive from Premier Oil about operating in Burma and he said that oil men liked working in authoritarian regimes as they were much more predictable than democracies. Ironically they were more stable. Over the last year, the Arab spring has challenged this concept to … Read More
The oil industry watchdog PLATFORM has issued a report which exposes the extent to which the British oil giant BP has gained control over one of Iraq’s most lucrative oil fields, the super-giant Rumaila, near the Southern city of Basra. The report, “From Glass Box to Smoke Filled Room – How BP secretly renegotiated its … Read More
The subsidy battle raging in Washington at the moment is all about what are known as “production” subsidies. These are subsidies that are paid to the oil majors to keep the oil and gas flowing. But there is also another type of subsidy: this is where governments, often in countries producing oil or developing countries, … Read More
As the West dithers and dallies over whether to support the Libyan rebels, Gaddafi’s forces are rapidly gaining momentum across the country. This morning the dictator’s troops seemed to have taken the town of Brega after seizing control of the strategic oil town of Ras Lanuf on Saturday. They now look like they will regroup … Read More
Many people are now getting jittery about Saudi Arabia. Protesters in the Kingdom have called for a “day of rage” his Friday to show their dissatisfaction with King Abdullah’s regime. Meanwhile the King has tried to head off serious unrest in the country by pledging to boost spending on housing, social welfare and education. And … Read More
The press reports this morning that members of Opec have joined Saudi Arabia in boosting oil output to make up the fall in output from Libya. The countries concerned – Kuwait, UAE and Nigeria – have all promised to boost production. In many ways you could argue that OPEC’s gamble is trying to delay the … Read More