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Posts Tagged ‘middle east’

A global energy war looms

March 23, 2011 Comments off

telegraph

Here’s an alarming chart to ponder. HSBC has calculated what would happen to energy consumption by 2050 given plausible forecasts for economic growth and assuming no constraint on resources, or that humans carry on using energy in the “taken for granted” way they do at the moment.

 

As you can see, demand in China, India and other emerging markets soars, but there is also quite considerable growth from advanced economies too. The big picture is that with an additional one billion cars on the road, demand for oil would grow 110pc to more than 190 million barrels per day. Total demand for energy would rise by a similar order of magnitude, doubling the Read more…

Categories: Coming Events, Economy, energy, world Tags: , , , , , , , , ,

Secret Iran Gold Holdings Leaked: Tehran Holds Same Amount Of Gold As United Kingdom, And Is Buying More

March 21, 2011 Comments off

http://www.nonstopgold.com

While it will not come as a major surprise to most, according to senior BOE individuals and Wikileaks, Iran, as well as Qatar and Jordan have been actively purchasing gold well over the amount reported to and by the IMF, in an accelerated attempt to diversify their holdings away from the US dollar. “Iran has bought large amounts of gold in the international market, according to a senior Bank of England official, in a sign of how growing political pressure has driven Tehran to reduce its exposure to the US dollar. Andrew Bailey, head of banking at the Bank of England, told an American official that the central bank had observed “significant moves by Iran to purchase gold”, according to a US diplomatic cable obtained by WikiLeaks and seen by the Financial Times.” The reason for Tehran’s scramble into gold: “an attempt by Iran to protect its reserves from risk of seizure”. The misrepresentation of Iran’s holdings could be so vast that Iran could possibly be one of the largest holders of goldin the world. “Market observers believe Tehran has been one of the biggest buyers of bullion over the past decade after China, Russia and India, and is among the Read more…

Categories: GOLD, Iran, Precious Metals, wikileaks Tags: , , , , , , , , , , , , , , , , ,

Saudi King Offers His People Money, Reform

March 19, 2011 Comments off

www.npr.org

Saudi King Abdullah bin Abdul Aziz addressing the nation via state-run television in Riyadh. 

AFP/Getty ImagesSaudi King Abdullah bin Abdul Aziz addressing the nation via state-run television in Riyadh. 

In a rare televised speech, Saudi Arabia’s king said he was enacting a $67 billion package that included raises and loans for Saudis.

The AP called King Abdullah’s offer, “the Arab world’s most expensive attempt to appease residents inspired by the unrest that has swept two leaders from power.”

Reuters reports on the details of the package:

Amongst a wave of new spending, the decrees outlined a boost in welfare benefits, bonuses for public sector workers, including the army, and a massive drive to build new housing.
In addition, the king ordered the creation of 60,000 security jobs within the Read more…

Categories: Saudi Arabia Tags: , , , , , ,

The Coming “Egyptian Moment” in South Africa

March 18, 2011 Comments off

huffingtonpost.com

As we watch the Egyptian government concede to the demands of their citizens and closely follow the unraveling of the North African governments, one must acknowledge the millions of youth who are courageously going against the grain by breaking down social and political barriers. The global disenfranchisement of youth in underserved communities is creating a perfect storm for additional revolutions to occur around the world.

As a South African, I wonder how South Africa’s leadership might respond if it were to reach a similar tipping point with its disenfranchised youth — where conservative estimates tell us that more than half of South Africans under the age of 25 are unemployed. I do believe it would be foolish for South African leaders to think that these unemployed and disconnected youth may not one day ignite a revolution.

As signs of discontentment emerge at Read more…

Categories: South Africa Tags: , , , , , , , , , , , , ,

Currency Meltdown Coming

March 17, 2011 Comments off

usawatchdog.com

By Greg Hunter’s USAWatchdog.com

The situation in Japan is getting worse, not better. There are shortages in food, fuel and warm dry shelter. To make matters exponentially worse, nuclear power plants there continue to burn out of control and emit high levels of radiation. Japan is a stark reminder of how fast a modern technologically advanced society can be brought to its knees by an unforeseen calamity.

On the other side of the Pacific, the devastating pictures from that island nation are taking the attention away from our own, much more predictable, calamity coming from a tsunami of debt. As the U.S. and other world governments continue to print money to keep the banks and system solvent, a ball of debt is growing. It is on course to Read more…

Categories: Coming Events, currency, United States, world Tags: , , , , , , , , , , , , , , ,

Recent droughts and floods have contributed to increases in food prices

March 14, 2011 1 comment

7thspace.com

These are pushing millions more people into poverty and hunger, and are contributing to political instability and civil unrest. Climate change is predicted to increase these threats to food security and stability. Responding to this, the world’s largest agriculture research consortium today announced the creation of a new Commission on Sustainable Agriculture and Climate Change.

Chaired by the United Kingdom’s Chief Scientific Adviser, Professor Sir John Beddington, the Commission will in the next ten months seek to build international consensus on a clear set of policy actions to help global agriculture adapt to climate change, achieve food security and reduce poverty and greenhouse gas emissions.

There is a rich body of scientific evidence for sustainable agriculture approaches that can increase production of food, fiber and fuel, help decrease poverty and benefit the environment, but agreement is needed on how best to put these approaches into action at scale. Evidence also shows Read more…

Categories: Droughts, Flood, Food Crisis Tags: , , , , , , , , , , , , , , , , , , , , , , , , ,

Russia emerges as unlikely energy safe haven

March 14, 2011 Comments off

AFP – Turning the page on former disappointments, the world’s energy giants are flocking to Russia, whose vast resource riches look even more tempting at a time of turbulence in the Middle East.

In just a matter of weeks, the country has put the finishing touches on a clutch of joint exploration and share-swap agreements whose negotiation seemed impossible just a few years ago.

But with natural gas production stagnant and new oil wealth resting in hard-to-reach reserves, Russia is swinging the door open to Western companies, their presence now seen as essential to the country’s economic growth.

“Russia is today the go-to place for Read more…

Categories: Russia Tags: , , , , , , , , ,

US could tap oil stockpiles as prices rise: Obama

March 12, 2011 Comments off

WASHINGTON (AFP) – President Barack Obama on Friday said he had “tee-ed up” moves to tap emergency US oil stockpiles, as Middle East violence pushed up gas prices for hard-hit US consumers.

Trying to tamp down concern that oil prices will continue to rise on Middle East unrest, Obama said he was willing to make a rare move to open the strategic reserve, but not yet.

“We are going to try to do everything we can” to stabilize the market, Obama said.

“Everybody should know that should the situation demand it, we are prepared to tap the significant stockpile of oil that we have in the strategic petroleum reserve.”

 

With Americans struggling with Read more…

Categories: Obama, Oil Tags: , , , , , , , , , , ,

Saudi Arabian security forces quell ‘day of rage’ protests

March 12, 2011 Comments off

guardian.co.uk

Saudi Saudi policemen form a check point near the site where a demonstration was expected to take place in Riyadh on Friday. Photograph: Hassan Ammar/AP

Saudi security forces came out in strength in Riyadh on a “day of rage” organised by pro-democracy campaigners who managed only small demonstrations in the eastern provinces.

Expectations that the unrest sweeping the Arab world in the last few weeks would spread to its most conservative kingdom appeared to have been dashed by pre-emptive security measures and stern official warnings against any protests.

Far larger demonstrations rocked Yemen, where tens of thousands of pro and anti-government protesters took to the streets as President Ali Abdullah Saleh struggled to maintain his grip.

Clashes broke out in Read more…

Categories: days of rage, Saudi Arabia Tags: , , , , , , , , , , ,

Ex-Goldman Sachs Analyst: “Major War” Coming End Of 2012

March 11, 2011 Comments off

prisonplanet.com

When cycle forecaster Charles Nenner told the Fox Business network yesterday that the Dow Jones was set to collapse to the 5,000 level on the back of a “major war” that will shake the globe at the end of 2012, hosts David Asman and Elizabeth MacDonald sat in stunned silence.

Nenner, a former technical analyst for Goldman Sachs, is head of the Charles Nanner Research Center, which purports to be able to predict market trends with a computer program based around pattern forecasting and securities analysis. Nenner predicted the stock market and housing collapse over two years before the fall of Read more…

Categories: Coming Events Tags: , , , , , , , , , , ,