If you didn’t read Matt Taibbi’s piece “The Great American Bubble Machine” from Rolling Stone, then this is a good time to check it out. The article, which argues that the investment firm Goldman Sachs has been behind a series of disastrous speculative bubbles in recent years, has received a great deal of attention.
The abrupt rises in oil prices in recent years coupled with worry about the long-term viability of a fossil-based economy have prompted some writers to foretell the coming of a ‘new dark age’ of Malthusian proportions. Very little appears to abate the current and soaring demand for oil, even as world oil production reaches it peak.
When it comes to energy, most of us consider Saudi Arabia to be the dominant supplier as well as the world’s most powerful petro-political force. Without taking anything away from Saudi Arabia, it happens that the above description is not entirely correct. Natural gas provides Russia with perhaps the most effective weapon it has ever had in dealing with the West.
This brief study aims to examine the emergence of Iranian nationalism and its implications of national independence in 1950s. Dr. Mosaddegh and his nationalist party Jebhe Milli Iran (Iranian National Front) will be the focus of this inquiry, which begins with a brief historical background to the origins of the party and the political climate of the time.
The recent Russian-Georgian conflict brought to the forefront several important international issues, not least the thorny problems concerning Russia’s energy clout and the European Union’s energy vulnerability. It became increasingly clear that Russia has no intention of becoming a passive or marginalised power. Simultaneously, current containment policy towards Iran is failing. . It is important that Iran be part of near-future investment programmes and arrangements – both economically and politically.
Despite Nigeria’s transition to democracy there are trends towards identity-driven political agitation by well-armed youth militia or vigilante groups engaged in acts of violence as responses to alienation from the state, economic decline, unemployment, and the militarization of society by decades of military rule. This underscores the persistence of militarism within some sections of civil society in a ‘democracy-from-above’ which has in practice largely favoured vested interests, and all but closed the prospects for political participation, dialogue and grassroots democratization.
Iran is unlikely to give in to US and Israeli threats because the political elite in Tehran have staked their reputation on the nuclear issue and the Iranian’s do not believe that either the United States or Israel has either the ability or the willingness to attack their facilities. If Iran has miscalculated then there is the potential that the Middle East may erupt into an enormously damaging international conflict that will have significant ramifications for the international economic system.
In the spring of 1970, Canada unilaterally enacted legislation to regulate activities in the Arctic Ocean. While criticized as an attempt to assert ownership over what was then perceived to be international territory, the act signalled a bold willingness to prosecute polluters in the absence of sufficient rules of international law. Canada acted to protect the Arctic Ocean’s pristine nature for all of mankind. Today, retreating polar ice and the potential for extensive oil and gas reserves have renewed interest in the region, but for a far less altruistic motive.
Although all oil companies operating in Nigeria have faced the same basic problems, Shell has acquired far and away the worst reputation, particular in the Niger Delta with minority ethnic groups. This stems from alleged exploitation of oil and gas resources and environmental pollution resulting partly from long term gas flaring. Indeed, the company’s activities have not only become central to the dysfunctional politics of the Niger Delta, but may be fuelling rising global oil prices.
During the past decade a growing chorus of energy analysts has warned of the approach of “Peak Oil,” the time when the global rate of extraction of petroleum will reach a maximum and begin its inevitable decline. While there is some dispute as to when it will occur, there is none as to whether. The global peak is merely the cumulative result of production peaks in individual oilfields and in whole oil-producing nations.
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