petro-oligarchy

Bolivia hosts 'Gas OPEC' summit —amid dissension

The four-day summit of the Gas Exporting Countries Forum (GECF) opened Nov. 21 in the Bolivian city of Santa Cruz de la Sierra—central hub of the country's hydrocarbon-rich eastern lowlands. President Evo Morales took the opportunity to boast of his "nationalization" of Bolivia's hydrocarbon resources. But the summit comes as member nations are bitterly divided by diplomatic tensions. Established in Iran in 2001, the GECF consists of 12 members: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad & Tobago, and the United Arab Emirates. An additional seven observer nations are Azerbaijan, Iraq, Kazakhstan, Netherlands, Norway, Oman and Peru. The UAE and other Gulf States are currently at odds with Qatar, with diplomatic relations suspended since June.

San Francisco sues fossil fuel companies

San Francisco on Sept. 20 filed a lawsuit against five fossil fuel companies due to expected expenses the city will incur from global warming. The companies named in the suit are BP, Chevron, ConocoPhillips, ExxonMobil and Royal Dutch Shell—chosen because they are "the largest investor-owned fossil fuel corporations in the world as measured by their historic production of fossil fuels." The suit claims the companies knew of the effects of fossil fuels on global warming since the late 1970s or early '80s, but nonetheless "engaged in large-scale, sophisticated advertising and public relations campaigns to promote pervasive fossil fuel usage." The suit seeks an order that the defendants fund an abatement program for the building of seawalls to protect San Francisco from rising sea levels.

Venezuela drops petro-dollar: how meaningful?

The government of Venezuela, under growing pressure from US sanctions, is telling oil traders that it will no longer receive or send payments in dollars, Dow Jones reported Sept. 13. Oil traders who export Venezuelan crude or import oil products into the country have begun converting their invoices to euros. The state oil company Petróleos de Venezuela SA (PdVSA), has instructed its private joint venture partners to convert existing cash holdings into euros. Plugging the switch, Venezuela-based state media outlet TeleSur writes: "The petrodollar is more important for US global domination than either arms exports or Hollywood culture, because it allows the US to be the biggest exporter of the dollar bills the rest of the world needs to be able to buy oil. Venezuela has decided to start de-dollarizing its economy."

Control of oil at issue in NAFTA re-negotiation

As "NAFTA 2.0" negotiations open, a provision that essentially locks in Canada's current levels of oil exports to the US is drawing opposition from unlikely allies across the Canadian political spectrum but winning staunch support in the "Oil Patch," as the country's petroleum industry is colloquially called.  The "proportionality clause" originally appeared in the US-Canada Free Trade Agreement of 1988 and became a major issue in that year's national election that returned Prime Minister Brian Mulroney to office. It was replicated six years later in the North American Free Trade Agreement—although Mexico won an exemption. The clause can be invoked if a government in Canada reduces US access to Canadian oil, natural gas, coal, electricity or refined petroleum products without a corresponding reduction in domestic access to those resources.

Trump finally meets a 'dictator' he doesn't like

Well, this is cute. The Trump White House condemned Venezuela as a "dictatorship" in the wake of the contested Constituent Assembly vote, and imposed sanctions on President Nicolás Maduro. The immediate pretext is the detention of opposition figures Leopoldo López and Antonio Ledezma, who were transferred from house arrest to military prison, accused of leading protests in defiance of a nationwide ban. Trump said in a statement that the United States "condemns the actions of the Maduro dictatorship," and holds Maduro "personally responsible for the health and safety of Mr. López, Mr. Ledezma, and any others seized."

Venezuela: is the problem really 'socialism'?

There is an unseemly tone of gloating to conservative commentary on the crisis in Venezuela, with pundits calling out their opposite numbers on the left for their cheerleading for the regime and pointing to the current chaos as evidence that "socialism" doesn't work. Indeed, many left-wing commentators deserve to be called out for their uncritical attitude toward the late Hugo Chávez and his mediocre successor Nicolás Maduro. But a case can be made that, contrary to conservative and mainstream assumptions, the problem is precisely that the Bolivarian Revolution has been insufficiently revolutionary and socialist.

Venezuela: independent left rejects both sides

The vote for Venezuela's Constituent Assembly opened July 30 amid ongoing and widespread angry street protests, in defiance of a nationwide ban on demonstrations. Violence broke out as protesters attempted to block access to polling stations, resulting in at least 14 deaths. Those killed include two prominent leaders—one from each side. Ricardo Campos, a youth secretary with the opposition Acción Democrática party, was shot dead during a protest in the northeastern town of Cumana. José Félix Pineda Marcano, a chavista leader and Constituent Assembly candidate, was killed in an invasion of his home in Ciudad Bolívar. Two youths, aged 17 and 13, and a solider were killed in street-fighting in Táchira. Violence in the days leading up to the vote drove the death toll over four months of unrest above 100. (BBC News, RCN Radio, KaosEnLaRed, Clarín, July 30; AP, NPR, July 27)

Antarctica: ...and still it melts

President Trump announced his decision June 1 to pull the United States out of the Paris Agreement on Climate, signed by 195 nations and formally joined by 147, including the US. The United States now joins Syria and Nicaragua as the only nations in the world not supporting the accord. Nicaragua, it should be noted, failed to join because the terms of the accord are not binding, and it was therefore considered too weak. Syria is consumed by internal war, and was iced from the negotiations by restrictions on its envoys traveling to the talks. The agreement, which seeks to limit global warming to 2°C above pre-industrial levels, came into force on Nov. 4, 2016, just days before Trump was elected. Each country sets its own commitments under the accord. The United States, second-largest emitter on the planet after China, had committed to reducing its carbon emissions by 26 to 28% below 2005 levels by 2025. It also commited up to $3 billion in aid for poorer countries to address climate change by 2020. (ENS, June 2; NYT, June 1; WP, May 31)

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