Oil

Oil-rig-982

PerryScope By Perry Diaz Long considered a body of water with no strategic or economic value, the South China Sea had been for millennia a “road” that nations used to trade their goods with other nations. Nobody laid claim to owning it. Except for small bands of pirates, no navies threatened the peaceful coexistence among the littoral communities and their giant neighbor, the Middle Kingdom Read More …

Stock-market-collapse

PerryScope By Perry Diaz Planet Earth has shrunk so much that more than seven billion people’s lives are intertwined and their countries’ economies are inter-dependent with one another. If one country goes down, it pulls down many others, too. It did not then come as a surprise that when China’s stock market crashed, it was like a huge meteor falling in the middle of the Read More …

National Science Foundation

By Adam Pasick Quartz Stormy weather ahead?  Political tensions in the South China Sea have seldom been higher, with China’s “marine identification zone” deemed a provocative threat to peace by neighboring countries and the United States. The vast area, variously claimed by China, the Philippines, Vietnam, and other southeast Asian countries, is hotly contested in part because it is thought to hold vast reserves of Read More …

Chinese-apprehending-Vietnamese-fishermen

PerryScope By Perry Diaz In her boldest and daring move to date, China imposed fishing restrictions within a large part of South China Sea. In essence, it’s a declaration that China has now exclusive control over the South China Sea and any foreign fishing boat that enters these waters must get the approval of Chinese authorities in Hainan province. The area claimed by Hainan is Read More …

The U.S. will overtake Russia, currently the biggest oil producer, in 2015 as it taps rock and shale layers in North Dakota and Texas with the use of horizontal drilling and hydraulic fracturing. Photographer: Eddie Seal/Bloomberg

By Grant Smith Bloomberg The U.S. will surpass Russia and Saudi Arabia as the world’s top oil producer by 2015, and be close to energy self-sufficiency in the next two decades, amid booming output from shale formations, the IEA said. Crude prices will advance to $128 a barrel by 2035 with a 16 percent increase in consumption supporting the development of so-called tight oil in Read More …

Oil refinery in Basra, Iraq (Photo credit: Nabil Al-Jourani/Associated Press

By T. Boone Pickens Huffington Post The national press corps made a big deal about cybersecurity when President Barack Obama met for two days with Chinese President Xi Jinping. And climate change. And currency manipulation. And even Smithfield Ham. What did not appear to have been on the agenda was energy and oil, and particularly oil coming from Iraq. Way back in 2008, I met Read More …

Members of China's People's Liberation Army (PLA) Guard of Honor perform drills during a media tour in Beijing, China. (Photographer: Sim Chi Yin/Bloomberg)

By Indira A.R. Lakshmanan Bloomberg News   China’s “spectacularly active” naval posture and “massive” military buildup in Asia are part of a pattern of belligerent behavior toward Japan and other neighbors over maritime disputes, according to Japan’s ambassador to the U.S. Speaking at a Bloomberg Government breakfast in Washington yesterday, Japanese Ambassador to the U.S. Kenichiro Sasae described China’s increasingly frequent forays to lodge territorial Read More …

Strait of Malacca

By Karim Rahemtulla, Investment Director Oil & Energy Daily Back in March, we talked about Myanmar – and the massive investment opportunity taking shape there. I know it sounds like an obscure country with limited prospects, but I assure you, it’s not. And I’ll have even more information for you once I get back from the Myanmar 2013 Investment Summit in Hong Kong. But today, Read More …

Soon to be dire straits? AP Photo / Wong Maye-E

By Lily Kuo  Quartz The world’s most contentious and strategic waterway may soon be in Southeast Asia. Oil from the Middle East and Africa that travels through the Straits of Malacca makes up 75% of oil (paywall) consumed by Japan, South Korea, and Taiwan, and 37% of China’s demand. And that pressure isn’t going to ease anytime soon. China’s latest attempt to ease dependence on Read More …

Coral-Triangle-map

Coral Triangle’s vast oil reserves By Bernie Lopez Reprinted from the Philippine Sentinel Editor – dinocres1944@aim.com Is the conservation program of the oil-multinational-funded World Wildlife Fund (WWF) in the Coral Triangle an ‘advance party’ for oil exploration? The 1.6-billion-acre Coral Triangle, reputed to be the richest marine biodiversity area in the planet, covering six countries, is regarded by oil multinationals to also be the richest Read More …