Energy & Economy

08

Nov

Baku–Tbilisi–Ceyhan, baltic sea, gas pipeline, GERMANY, Nagorno-Karabakh, Nord Stream 2, Russia, USA

US steps up sanctions pressure on Nord Stream 2

PEJOURNAL - The construction of the Nord Stream 2 gas pipeline was stopped last December after US President Donald Trump signed a defensive policy act which included some sanctions on this project. Expressing open opposition to the construction of the gas pipeline on 15 July 2020, US Secretary of State Mike Pompeo claimed that sanctioning Nord Stream 2 sends a clear message to companies that help expand Russia’s negative influence in Europe; and the United States will not accept the contribution and participation of these countries in the Nord Stream 2 gas project and they should cease their cooperation with…

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02

Nov

energy economy, Energy Security, Europe, Middle East, Oil, renewable energy

Countries that are reliant on oil face uncertainty as renewable energy gain ground

BY: Paul Cochrane PEJOURNAL - The theory of peak oil, whereby the cost of extraction would exceed how much consumers were willing to pay while demand outstripped supply, was first floated more than 60 years ago. Oil production, geologist M King Hubbert predicted, would peak by the turn of the millennium. That didn’t happen - but the spectre of peak oil raised its head again in the mid-2000s, in part pushed by Matthew Simmons’ book Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy. Simmons argued that Saudi Arabia had inflated its colossal oil reserves - a…

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27

Oct

COVID-19, digital transformation, Ecosystems, Smart Manufacturing

Smart Manufacturing Ecosystems

PEJOURNAL - Smart manufacturing ecosystems are accelerating digital transformation and results, with early adopters achieving twice the revenue growth, digital maturity and new product/service delivery as their peers. Seventy-five percent of US manufacturing leaders surveyed are most concerned about the ongoing impact of COVID-19 and economic slowdown on operations, and 72% are concerned with meeting profitability goals. In response, 62% of leaders surveyed are continuing smart factory investments, allocating 20% more to those initiatives than last year. Eighty-five percent of manufacturers surveyed believe ecosystems are important or extremely important to their competitiveness. Why this matters Ongoing disruption and economic hardship…

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27

Oct

chemical recycling, France, Plastic Energy, Total

Construction of chemical recycling plant in France

PEJOURNAL - This first project in France represents the start of the collaboration between Total and Plastic Energy to deploy chemical recycling. Total and Plastic Energy announce the creation of a strategic partnership and the development of the first chemical recycling project in France (Total 60 %, Plastic Energy 40 %). This plant, with a capacity of 15,000 tonnes per annum, will be located on the new Total platform zéro crude in Grandpuits, France. The project is expected to become operational in early 2023. This first project in France represents the start of the collaboration between Total and Plastic Energy…

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25

Oct

climate, policy, U.S.

What’s going on with climate policy in the U.S. ?

BY: Michael Robbins So far in the presidential race the focus has been on mostly issues surrounding social justice, inequality, and revamping the middle class. Much less has been uttered in terms of climate change policy. There was a hint of this topic in the first presidential debate, but not nearly enough, where Biden stuttered and mentioned that skyscrapers should be more energy efficient. But that’s just the tip of the iceberg when it comes to actually having a mitigation strategy. Policies are long and detailed. Rhetoric is short and appeals to emotion. It would be a good time though,…

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20

Oct

Canada, Energy, Energy Security, Natural Gas, Resource, Russia, the United States, Turkey

Natural Gas Resources and the Effect of Democracy on Resource Sharing

BY: Sibel İleana Okumuş PEJOURNAL - Turkey's recent finding natural gas reserve in Black Sea did not make a big impact because of the course of the economy and the existence of other problems. In contrast, the economic and social problems such as depreciation of Turkish lira and backwardness in terms of human rights are the subjects that being argued. This leads us to search how these resources are distributed in countries with valuable underground resources and how transparently this is done. In this context, we are going to examine the gas reserves of countries and its connection with governence,…

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05

Oct

Capitalism, Corona virus, COVID19, Global Economy, PANDEMIC, post-corona

Capitalism After the Pandemic

BY: Mariana Mazzucato PEJOURNAL - After the 2008 financial crisis which was a challenge to Capitalism, governments across the world injected over $3 trillion into the financial system. The goal was to unfreeze credit markets and get the global economy working again. But instead of supporting the real economy—the part that involves the production of actual goods and services—the bulk of the aid ended up in the financial sector. Governments bailed out the big investment banks that had directly contributed to the crisis, and when the economy got going again, it was those companies that reaped the rewards of the…

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21

Sep

American government, Capitalism, Income, Inequality, the USA

Income Inequality and its Associated Negative Outcomes in the USA

BY: Andrew Rupp PEJOURNAL - Since the 1970’s, most member countries of the Organisation for Economic Co-operation and Development (OECD) have shown rising levels of income inequality (d’Agostino et al., 2020). In the USA the existence of income inequality is widely known, yet many remain unaware of the current, colossal levels of inequality (Norton and Ariely, 2011). Indeed, as recent as 2016, the combined global wealth of 99% of the world’s population was still less than that owned by the richest 1% (Oxfam International, 2017). In America in 2016, the wealthiest 10% owned nearly 80% of the nation’s wealth while…

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14

Sep

asset market volatility, COVID19, Crisis, demise of small businesses, Food, food insecurity

The next subprime crisis could be in food

BY: Rana Foroohar PEJOURNAL - Of all the many problems caused by Covid-19, three of the most visible have been food insecurity, the demise of small businesses and asset market volatility. All of those things might be poised to get worse, thanks to an unexpected but important financial shift. Big banks, including ABN Amro, ING and BNP Paribas, are either pulling out of commodity trade financing or scaling it back. This will leave a funding hole for some farmers, agricultural producers and distributors, as well as grocery chains and other small and medium-sized companies that represent crucial parts of the…

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02

Sep

Australia, Bass Strait, Casey Norton, coronavirus, Exxon Mobil, job cuts

Exxon Mobil weighs global job cuts after unveiling Australian lay-off plan

PEJOURNAL - Exxon Mobil Corp (XOM.N) is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off programme in Australia. Exxon Mobil is the latest oil major to embark on axing jobs spurred by a historic collapse in fuel demand because of the coronavirus pandemic. The company has slashed capital spending this year by 30% to around $23 billion and said in August it planned both capital and operating expense cuts to defend its dividend after reporting losses in the first and second quarters. “We have evaluations underway on a country-by-country basis to…

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