Don’t Be Fooled by Libya—This is a Failed State
Gunmen yesterday seized Libyan Prime Minister Ali Zeidan from a hotel in central Tripoli, releasing him shortly afterwards, but making it clear that post-Gaddafi Libya is a failed state and that the government is incapable of taking full control over its oilfields and export terminals.
Three years has seen the overturn of two government, the deaths of thousands of people and the destruction of much of the Egyptian economy. In the end, the mobs have changed nothing, except to make their own lives more miserable.
A rude jolt for motorists as they face another increase in petrol prices! The rising cost of international crude oil coupled with the volatile economy over the past fortnight is driving pump prices towards a record high.
It’s time to slash the huge oil import bill, folks, say the reports! This shocker is the latest game plan of the Indian Government; they plan to reduce the demand of fuel by limiting the fuel availability hours. The Government is pondering over a proposal and may close the petrol pumps at night.
The free fall of the rupee coupled with surge in international fuel prices saw oil companies announce Rs.2.35 per litre increase in petrol prices and that of diesel by 50 paise on Saturday.
The age of electrification across the transportation sector, the solar panel revolution, and Tesla's battery gigafactory are igniting a battle for the cheapest battery. That will transform lithium into a boom-time mineral and the hottest commodity on the energy investor's radar. It has been easy to take lithium for granted. This wonder mineral is the backbone of our everyday lives, popping up in everything from the glass in our windows to our mountains of electronics.
Globally, water demand is threatening to dangerously outpace supply, while in the US, dry states such as Texas and California are suffering from shortages and the future forebodes more suffering. For the North American shale boom, the lack of water is suffocating. Amid this doom and gloom, a water revolution emerges, led by energy industry figures who realized the endless potential of tapping into new water sources and processing them with advanced desalination technology that, for the first time ever, is economically feasible.
Ukraine doesn't need Russia to take it down-Kiev is doing fine destroying itself, most recently with a new tax code that doubles taxes for private gas producers and promises to irreparably cripple new investment in the energy sector at a time when reform and outside investment were the country's only hope.
While we fixate on sexy headlines about Chinese military threats in the South China Sea, for instance, or Washington 'lifting the ban' on crude oil exports, we miss the bigger stories—and we miss the reality. China's relentless resource quest has the greatest impact on trading prices, which may not make for headline news, but is a very important reality, while the stories about the US lifting the crude oil ban were just wrong.
Much has been made about the role that hydraulic fracturing – or fracking -- has played in revolutionizing the energy landscape, unlocking vast new reserves of oil trapped in shale rock. This "tight oil" is pouring into the global pool of oil supplies at a crucial time, preventing oil prices from spiking in an age of high demand and geopolitical turmoil.