Monday, May 20, 2019

Ever More Complex EU Gas Pipeline Geopolitics

by F. William Engdahl, New Eastern Outlook:

Israel plans to construct the world’s longest underwater gas pipeline together with Cyprus and Greece to carry Eastern Mediterranean gas on to Italy and the EU southern states. US Secretary of State Mike Pompeo has just endorsed the project. It will run smack up against a competing Turkish-Russian gas pipeline, Turk Stream, against a potential Qatari-Iran-Syria pipeline, as well as de facto undercut the Washington attempt to get more US LNG gas to the EU to reduce Russian dependency.

The project, under discussion for several years since Israel discovered major gas reserves in the offshore Leviathan Field, is known as the East Med Pipeline Project. Natural gas will flow from Leviathan via Cyprus, Crete and Greece to reach its terminal at Otranto on the southeast heel of Italy. Plans call for a pipeline of 2,100 kilometers running three kilometers deep under the Mediterranean. Cost is estimated at $7 billion with a five year construction period.

NASA Astronaut: “These Concepts Have Been Proven In Hundreds Of Laboratories Around The World”

by Arjun Walia, Collective Evolution:

  • The Facts:Free energy, over-unity energy, and various types of efficient power generating devices exist. There is a tremendous amount of science and proof and a recent episode of CETV we share our experiences with regards to this technology.
  • Reflect On:Do you believe free energy is real? If not, why not? What does our world need to look like economically for us to bring about these technologies? Can they properly be brought forth in our current system?

LOUSY SHALE ECONOMICS: Financial Troubles Continue At ExxonMobil

by Steve St. Angelo, SRSRocco Report:

After reporting lower than expected earnings, ExxonMobil’s stock price sold off on Friday.  The company blamed poor performance on reduced production volumes and a weaker oil price.  However, the real culprit will turn out to be Exxon’s big move into the Great U.S. Shale Oil Ponzi Scheme.

As I mentioned in my recent article, EXXONMOBIL U.S. OIL & GAS FINANCIAL TRAIN-WRECK: Producing Shale Is Destroying Its Bottom Line, the company will continue to spend a great deal of capital with little financial reward.  So, it wasn’t a surprise to see Exxon’s Q1 2019 earnings decline by $3.6 billion compared to the previous quarter… even though U.S. oil production had increased.

SHALE STOCK LOSES 99% OF ITS VALUE: Investor Warning For The Future Of The Industry?

by Steve St. Angelo, SRSRocco Report:

If you think the carnage taking place in the shale oil companies is nearly over, you couldn’t be more wrong.  I believe the bloodbath in the shale oil stocks has only just begun.  Once we see the majority of shale stocks trading on the pink sheets as penny stocks will we finally close the book on the Greatest Energy Ponzi Scheme in history.

Its 2016 All Over Again. Or Is It?

by Chris Martenson, Peak Prosperity:

Conditions today mirror 2016, when growing weakness in the global economy and wobbling financial markets caused the world’s central banks to absolutely freak out.

They responded by dumping more thin-air money into the system than ever before in history. And it worked (for them at least). Economic growth stabilized; and the prices of stocks, real estate, and other assets enjoyed another three-year joyride.

Similarly, as things started getting shaky in late 2018, the same playbook was deployed. And again, we’ve seen stocks rocket upwards ever since.

Trump Signs Ambitious EMP Preparedness Executive Order

by Daisy Luther, The Organic Prepper:

After years of the government blowing off concerns about an electromagnetic pulse, President Trump has signed an executive order that will put EMP preparedness in the hands of the White House.

What’s in the executive order?

The Executive Order on Coordinating National Resilience to Electromagnetic Pulses is a first step toward learning more about how an EMP would affect us and how to protect critical infrastructure.

THE COMING MIDDLE EAST OIL CRISIS: The Collapse Of Net Oil Exports

by Steve St. Angelo, SRSRocco Report:

The Middle East is heading for a crisis in its oil industry.  Unfortunately, the market doesn’t realize there is any danger on the horizon because it mainly focuses on how much oil the Middle East is producing rather than its exports.  You see, it doesn’t really matter how much oil a country produces but rather the amount of its net oil exports.

A perfect example of this is Mexico.  As I mentioned in a recent article, NEXT OIL DOMINO TO FALL? Mexico Becomes A Net Oil Importer, Mexico is now a net importer of oil for the first time in more than 50 years.  Furthermore, the IEA – International Energy Agency, published in their newest OMR Report that Mexico is forecasted to lose another 170,000 barrels per day of oil production in 2019.  Thus, this is terrible news for the United States southern neighbor as it will have to import even more oil to satisfy its domestic consumption.

NEXT OIL DOMINO TO FALL? Mexico Becomes A Net Oil Importer

by Steve St. Angelo, SRSRocco Report:

While Mexico suffered the bloodiest year of violent deaths in 2018, even bigger trouble may be ahead for the embattled country.  For the first time in more than 50 years, Mexico has become a net importer of oil.  This is undoubtedly bad news for the Mexican Government as it has relied upon its oil revenues to fund a large percentage of its public spending.

And, the majority of these revenues came from just one prolific oil field.  After the discovery of the huge Cantarell Oil Field in the Gulf of Mexico in 1976, Mexico’s oil production surged from 894,000 barrels per day to a peak of 3.8 million barrels per day (mbd) in 2004.  That year, Mexico’s net oil exports exceeded 1.8 mbd.

US Approves Secret Nuclear Power Work for Saudi Arabia

from The Mind Unleashed:

US Energy Secretary Rick Perry has approved six secret authorizations by companies to sell nuclear power technology and assistance to Saudi Arabia, according to a copy of a document seen by Reuters on Wednesday.

The Trump administration has quietly pursued a wider deal on sharing US nuclear power technology with Saudi Arabia, which aims to build at least two nuclear power plants. Several countries including the United States, South Korea and Russia are in competition for that deal, and the winners are expected to be announced later this year by Saudi Arabia.

Russia appears ready to ditch the petrodollar completely in global oil sales

by Kenneth Schortgen, Shotgun Economics:

On March 26, the Deputy Chairman for Russia’s Gazprom energy company announced that they are ready to begin settling oil sale account in currencies other than the dollar, making them one of the first primary oil company (outside of sovereign determination) to sell their products in a currency other than the dollar.