London, the traditional home/hub of the world’s gold trade, could be slowly losing its grip on power as more and more of the world’s physical gold moves from London’s vaults to Asia, chiefly China.
By Ned Molloy | July 6, 2015 09:18 AM Comments (0)
By Tom Balcerek | July 2, 2015 06:00 AM Comments (0)
Gay marriage: Legal.
Trade Promotion Authority: Granted.
With the Confederate flag coming down or off the shelves in many locales as well, last week was watershed week in US history.
To American steelmakers, these historic developments may pale in light of the industry’s own achievement: a legislative change that encourages it to file more unfair trade cases.
By Ross McCracken | July 2, 2015 12:01 AM Comments (1)
By Mery Mogollon | July 1, 2015 12:01 AM Comments (2)
The decline in employee benefits at Venezuela’s state owned PDVSA is the latest sign of the crisis being experienced by the country’s oil sector, which is under pressure from the drop in oil prices, declining output, industrial accidents, as well as by hyper- inflation suffered by the country.
By Robert Perkins | June 30, 2015 12:01 AM Comments (3)
Earlier this month, BP’s latest Statistical Review unintentionally reopened a debate into whether the US has regained the crown as the world’s top oil producer after decades of being out-gunned by Saudi Arabia and Russia.
Ostensibly a straight-forward measure of which country tops the leaderboard on oil output, BP’s widely-read yardstick has the US eclipsing both Saudi Arabia and Russia for the first time last year since 1975. Fueled by booming shale oil, BP said, US oil output hit 11.64 million b/d last year, a narrow but decisive margin over Saudi Arabia’s 11.51 million b/d.
The devil is in the detail, however, and BP’s numbers raise the long-standing and slippery issue of what actually counts as oil.
By Nadia Rodova | June 29, 2015 12:01 AM Comments (0)
By Tim Worledge | June 26, 2015 12:01 AM Comments (0)
There’s a war being waged that you can’t fail to have noticed. The focus is an allegedly addictive white powder that has been with us for centuries, but is attracting ever greater ire from politicians, governments and health campaigners. For some producers active in the industry, many of them based in exotic locations like South and Central America, they are unaccustomed to such attacks, and are struggling to counter the bad press and occasionally hysterical calls to stamp out their industry. And it’s all coming at a time when business just isn’t as profitable as it used to be — and there’s precious little sympathy on show.
By Brian Scheid | June 25, 2015 12:01 AM Comments (0)
The ongoing US oil boom has compelled some lawmakers and analysts to question the need to keep so much crude stockpiled and sparked speculation that a government sale of tens of millions of barrels could be imminent. But could new rationale for how much crude the US keeps in its Strategic Petroleum Reserve actually increase the amount of crude in the US stockpile?