Tag: Petroleum

Russia Confounds the West by Recapturing Its Oil Riches + Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US

Tina Marie (Ms. Cat)

Moscow is raking in more revenue than ever with the help of new buyers, new traders and the world’s seemingly insatiable demand for crude

Russia Confounds the West by Recapturing Its Oil Riches

Related:

US Treasury Secretary Janet Yellen has warned that a failure to place a price cap on Russian oil would hurt the global economy.

Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US

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“Tsunami Of Shutoffs”: 20 Million US Homes Are Behind On Power Bills

Tina Marie (Ms. Cat)

At least 20 million households — or about 1 in 6 American homes — are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments, according to Bloomberg, citing data from the National Energy Assistance Directors Association (Neada).

“Tsunami Of Shutoffs”: 20 Million US Homes Are Behind On Power Bills

Video via Jimmy Dore

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up

Tina Marie (Ms. Cat)

The writing is on the wall for Europe in terms of this coming winter – It’s going to get ugly. With natural gas imports from Russia cut by 80% through Nord Stream 1 along with the majority of oil shipments, the EU is going to be scrambling for whatever fuel sources they can find to supply electricity and heating through the coming winter. Two sources that were originally suggested as alternatives were Iran and Venezuela.

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up

Related:

Venezuela: Oil Production Declines as Shipments to Europe Suspended

Caracas’ oil operations were affected by mechanical disruptions caused by alleged attacks against oil facilities. On July 16 a natural gas pipeline explosion and a power outage interrupted PDVSA’s supply to its main crude production and export hub, the José Antonio Anzoátegui industrial complex in eastern Venezuela.

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With the operational disruption depleting Venezuela’s lightest oil grade stocks, Iran recently began to increase its supply of 29.5°API blend, a lighter alternative to Venezuela’s 16°API Merey, in order to boost fuel production and free domestic upgraded blends for exports.

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However, anonymous sources revealed that Caracas might suspend crude cargoes to Europe while the industry recovers from recent setbacks. PDVSA is reportedly negotiating the terms of the oil-for-debt agreements with Eni and Repsol to receive fuel while still settling long-standing debts owed to the two companies.

Neither Venezuela’s Oil Ministry nor PDVSA has issued statements confirming the alleged halted shipments to Europe or the renegotiation of the swap deals.

Europe Must Learn To Cheat On Its Sanctions (Just Like The U.S. Is Doing It)

Tina Marie (Ms. Cat)

April 01, 2022 – Moon of Alabama

The European Union and China will hold a virtual summit today. Before the summit started Brussels has strewn rumors that it would pressure China to not support Russia.

China is of course rejecting any pressure and retaliates by pointing out Europe’s weak strategic autonomy:

Europe Must Learn To Cheat On Its Sanctions (Just Like The U.S. Is Doing It)

Comment by the Author of The New Dark Age:

Has the EU really been ‘captured’by the US? I think not! The major European powers, Germany, France, Italy and Holland (along with the UK), are an integral part of the Imperialist Bloc. When you talk about their interests being harmed, you are conflating the interests of the capitalist classes (and their essential servants) with those of the working people of these countries. Since when have the ruling classes of the Imperialists given a flying fuck about their working classes! They have vast amounts of capital, they’re not touched by the any of it, anymore than by the fake Pandemic. As with ‘traditional’ wars fought by capitalism, this is just another kind of war and as with traditional wars, it’s not only about markets and competing capitalist classes, it’s about destroying capital! It’s just as much a World War as the previous ones, but fought in an entirely different way, using different weapons. It has consumed (or is on the process of consuming) even more surplus capital than WWI/II, you just don’t see it! When will the left wise up? They got conned by the Bug and they’re now being conned by the Sanctions War on the planet!

The New Dark Age