Why there is much more at stake here than rising prices
Why Climateflation Will Drive Food Prices More Than War
Economists expect this summer's heatwaves to drive 2027 food prices more than the Iran war. Climateflation, explained: from your grocery bill to your mortgage rate.
Truth, Consequences, Climate, and Demand Destruction
"This is how the attack by one petro-state (ours) on another (Iran's) may be turning out to be very bad for petroleum, because the only thing history loves more than a surprise party is irony." The Crisis The biggest news is always the climate news, and sometimes it's so big
Asia scrambles to confront energy crisis unleashed by Iran war – with no end in sight
From fuel caps to four-day work weeks, the Middle East conflict has left the world’s top crude oil importing region desperate to shore up supplies
Trump’s Venezuela oil deal gives US access to vast reserves as Iran war drives energy concerns | The National
Agreement deepens US involvement in Venezuela’s oil industry as midterms approach and energy prices remain elevated
‘The damage is done’: global oil crisis has changed fossil fuel industry for ever, IEA chief says
Exclusive: International Energy Agency’s Fatih Birol, the world’s leading energy economist, also says UK should largely forgo North Sea expansion
Ways to think about token pricing — Benedict Evans
AI is in a supply crunch today, but what happens when we come out of it? How and where will supply, demand, price, capacity and capex get back into equilibrium? Today, model labs can name their price, but why won’t they end up as low-margin commodity infrastructure?
The great oil inflection
Who pays when petrol stops paying the refinery’s rent
interfluidity » The great game of global public goods provision
War is bad. Excuses should not be made for it. All sides should work to end this and every war as quickly as possible and shift to modes of bargaining and competition that are not profoundly destructive.
Best of times, worst of times: record fossil-fuel profits, inflation and inequality
The 2022 oil and gas crisis resulted in record fossil-fuel profits globally that rehabilitated the oil and gas industry, obstructed the energy transition and contributed to inflation, but their magnitude and beneficiaries have been insufficiently understood. Here we show the size of profits across countries and their distribution across socio-economic groups within the United States, using company income statements, comprehensive ownership data and a network model for propagating profits via shareholdings. We estimate that globally, net income in publicly listed oil and gas companies alone reached US$916 billion in 2022, with the United States the biggest beneficiary with claims on US$301 billion, more than U.S. investments of US$267 billion in the low carbon economy that year. In a network of U.S. shareholdings with 252,433 nodes including privately held U.S. companies, 50 % of profits went to the wealthiest 1 % of individuals, predominantly through direct shareholdings and private company ownership. In contrast the bottom 50 % only received 1 %. The incremental U.S. fossil-fuel profits in 2022 relative to 2021 were enough to increase the disposable income of the wealthiest Americans by several percent and compensate a substantial part of their purchasing power loss from inflation that year, thereby exacerbating inflation inequality. These profits also reinforced existing racial and ethnic inequalities and inequalities between groups with different educational attainments. We discuss how an excess profit tax could be used to both lower inequality and accelerate the energy transition as increasing geopolitical tensions and climate impacts threaten continued volatility in oil and gas markets.
Welcome to the new age of geoeconomics
Tech, trade, finance and military policies are mingling in a manner not seen during the neoliberal era
Private Markets Charge More
Also dual-class SpaceX stock, fake Iranian crypto fees and Global Tetrahedron M&A.
Collections: Global Trade and United States Navy
This week we’re doing another one of our series of military theory primers, this time focusing on a fairly simple contention: that the United States Navy is a load-bearing component of the gl…
Venezuela is a founding member of OPEC. What they are realizing is it is a new world when it comes to oil. "Oil markets would lose a global supply manager that steps in when surpluses emerge, leaving prices more liable to drop and the global petroleum industry more exposed to shocks."
OPEC’s Future Darkens With Venezuela Latest Nation to Mull Exit
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