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As oil prices have plummeted, the question has naturally come up: does this mean the end for renewable energies? Can they compete with this cheap fossil energy? The short answer is: yes, it will of course now be less profitable to invest in renewable energies. However, paradoxically, the longer story is more complex. Wind energy is already competitive with fossil energy, and solar has also passed the break-even point in more sunny places. And unlike non-renewable energy sources, the long run trend is towards falling costs. So we may be at a turning point for the fossil energy.
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We have heard a lot of nonsense about oil the last couple of months. First we were told that the fall in the oil price would continue to 20 dollars per barrel or even lower – from 100 dollars less than a year ago. Secondly that the fall in the oil price would not affect the US shale oil and gas miracle – US technology and prowess would outsmart the low cost producers as Saudi Arabia. Then, when the number of active oil rigs in operation in the US fell to half, we heard that there was not any connection…
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There is Argentina again defaulting on its debt, we are told. It shows that the big 2001 default and the posterior debt reduction in 2004-5, which has been touted by many (I, for one) as an alternative way for debt ridden countries, did not work, doesn't it? And it shows that the Kirchners instead of being the big saviours of Argentina have led the country into a dead-end, right? And all this has unravelled thanks to a stubborn US philanthropist, Paul Singer, and a courageous US judge, Thomas Griesa. Well, if you believe that story – and many do -…
Wednesday, 03 September 2014 21:05 in Politics

Revolutionary NATO

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Real revolutionaries do not just seize power. They also break down the existing power structure of the state and construct a new one from scratch, substituting the old administrators with people from the revolutionary movement, expecting in this way to get rid of not only all the people from the old system, but also all the old ideas. This was the recipe for the October revolution in Russia in 1917. And this is the recipe that NATO has been using today. In Iraq. In Libya. In Syria. This seems to have been be very good for NATO – it has…
Wednesday, 03 September 2014 17:39 in Economics and politics

Will sanctions hurt Russia?

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The short answer is yes, very much so. And much more than it will hurt the EU or the US. Post-Soviet Russia is mainly a producer and exporter of oil, gas and raw materials. Just as Canada, Australia, Brazil, Chile and Venezuela. It has gone through a de-industrialisation after the dissolution of the Soviet Union and is now heavily dependent on imports of almost everything. It is the world sixth biggest economy, but it is too small to survive isolated. So sanctions will hurt a lot. But they may also have unintended consequences. Some of them could actually be quite…
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The chemical attack on the rebel held Damascus suburb Eastern Ghouta on August 21 last year brought us very close to a US attack on Syria. It was called off in last minute, after Russian President Vladimir Putin brokered an agreement with the Syrian Government to give up its chemical weapons. But who was behind the Ghouta attack? The US and most Western countries have no doubt: it was the Syrian Government. Russia - after some dithering - ended up pointing to the rebels. However, proofs are very scarce for either accusation. So it leaves at least some of us…
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