insta_gramsci posted:

could y'all post some links from the business press and so on? i've wondered for a while why and how the price of oil has been so cheap, and i had the usual suspicions, but i don't have an eye on it as much as i should

In September, despite a global oil glut developing largely because of China’s slowdown and the rapid increase in U.S. production, the Saudis boosted production half a percent, to 9.6 million barrels a day, lifting OPEC’s combined production to an 11-month high of almost 31 million barrels a day. Then, on Oct. 1, Saudi Arabia lowered prices by increasing the discount it offered its major Asian customers. The kingdom might just as easily have cut production to defend higher prices. Instead, the Saudis sent a strong signal that they were determined to protect their market share, especially in India and China, against Russian, Latin American, and African rivals. Iraq and Iran followed Saudi Arabia’s example.

...

The kingdom has sterling credit and about $735 billion in financial reserves, so it’s better positioned to withstand a prolonged downturn than its rivals, says Bruce Jones, a senior fellow at the Brookings Institution in Washington. A price war could do serious damage to nations already on the ropes. Iran, whose exports are still constrained by Western sanctions, needs $153.40 a barrel to break even, according to the IMF. “Knowing that Iran is going to struggle, that’s something Saudi Arabia would certainly enjoy,” says Reva Bhalla, vice president for global analysis at Stratfor, which advises companies on political risk. Russia counts on $100 a barrel: Its budget loses about $2 billion for every dollar drop below that price, says Maxim Oreshkin, head of strategic planning at Russia’s Finance Ministry.

...

The Saudi policy of waging a price war has already hurt weaker members of OPEC. Venezuela has called for an emergency OPEC meeting to organize price hikes. The Venezuelans’ request was ignored by Saudi Arabia and Gulf ally Kuwait

http://www.bloomberg.com/news/articles/2014-10-23/oil-saudi-arabias-risky-price-play

"the saudis" is synecdoche of course

Edited by postposting (May 27, 2016 01:10:08)

getfiscal posted:

the elite attitude towards crime in american media is mostly dependent on how it benefits them anyway. i remember reading so many articles praising the government in brazil for basically going death squad on crime. the second that the left started making inroads it flipped back to "crime in brazil is insane". colombia is similar and was linked to the campaigns to destroy FARC, even on the left it became common for people to say that FARC was a nutty crime operation instead of holding leftist beliefs. the media again was saturated with stories about the need to confront crime in colombia. anyway it led to huge american operations in colombia. no one cares that colombia murders leftists like a contest though. obviously within the USA that basic story is true, too, like the clinton crime bill and such, anti-crack laws, etc.

let's not forget who makes the death squads in the first place. like, on the rare occasion anyone mentions the school of the americas it's treated like ancient history, even though people generally refer to stuff that was happening in the 1980s or whatever, when anyone in the US was paying attention. nevermind that it's still going. is all the lead in the water over there affecting the yank attention span or something?? http://www.mintpressnews.com/the-school-of-the-americas-is-still-exporting-death-squads/204655/

http://www.vox.com/2016/5/26/11774482/venezuela-socialist-collapse posted:

But steeped in the kind of Marxist phraseology that was already out of date a generation ago, the clique around President Maduro seems genuinely convinced that all of the country’s problems are the result of a sprawling CIA conspiracy — "economic warfare," as official propaganda puts it. It’s insane, but within the tightly sealed circle of Marxist true believers around the president, this kind of lunacy never faces any serious pushback.

Marxist...out of date...clique...CIA conspiracy...propaganda...insane...lunacy... Very nice.

From “Francisco Toro”
Date Mon, 13 Jan 2003 5:57 PM
To “Patrick J. Lyons”
Subject
—————————————————————————
Dear Pat,

After much careful consideration, I’ve decided I can’t continue reporting for the New York Times. As I examine the problem, I realize it would take much more than just pulling down my blog to address your conflict of interests concerns. Too much of my lifestyle is bound up with opposition activism at the moment, from participating in several NGOs, to organizing events and attending protest marches. But even if I gave all of that up, I don’t think I could muster the level of emotional detachment from the story that the New York Times demands. For better or for worse, my country’s democracy is in peril now, and I can’t possibly be neutral about that.

I appreciate your understanding throughout this difficult time, and I hope in the future, conditions will allow for me to contribute with the World Business page again.

Sincerely,

Francisco Toro

https://ca.linkedin.com/in/francisco-toro-b5147217

swirlsofhistory posted:

I thought we were pro-Sissy, anti-bruthahood around here, something change?

you're still posting so no.

swirlsofhistory posted:

I thought we were pro-Sissy, anti-bruthahood around here, something change?

you're probably thinking of that "landdestroyer" blog guy who also supports reactionaries in thailand for strange reasons.

tears posted:

bombings by the Niger Delta Avengers, and so on, plus the endlessly growing desire for the black blood of ancient sunlight

The reza nagarestani of the left