The bulls and bears face a continuous tug-of-war as the markets yaw from one side to another. Now-a-days the markets are stable with the continuous instability triggered, sometimes, by the Hurricanes and at times by the increase in inventory levels. The world is also looking forward to 26 September when the top producers of the world meet on the side lines of International Energy Forum in Algiers to decide the future of oil. If from one side the outlook for price seem very strong the fickleness of oil markets do not let one cherish this thought for long.
Have you ever noticed that The United States of America, the police-man of the world, also knows how to make the best burger (McDonalds), pizza ( Pizza hut) ,Chips and Beverages (Pepsi Co) in the world. If that is not enough then the most effective, powerful and smart weapons are also forged inside the Military Industrial Complex of USA. Now, it turns out that a commodity, on which for years the Middle-East and especially the Saudi monarchy have been exercising a clout, seems to shift its axis of power, veering towards another continent i.e. North America.
Authors: Manish Vaid and Darshit Paun
India’s hunt for developing a sustainable economy should not only involve the push towards renewable energy sources but also a firm commitment towards increasing in natural gas base, as also reflected in the statement of India’s Petroleum Minister. The efforts to this direction include increase cheaper LNG imports and reviving its gas pipeline diplomacy through undersea gas pipeline such as Middle East to India Deepwater Pipeline (MEIDP).
The meeting between president Vladimir Putin and Recep Tayyip Erdogan held on August 9 moved the relations between two countries to a new positive direction, and served as the beginning of restoration of “axis of friendship” and clean slate between Ankara and Moscow. The meeting was held in St.Petersburg after the failed coup attempt in Turkey and deteriorated relations over the downed Su-24 warplane.
Despite support from the US, India could not get Nuclear Suppliers Group membership during the two-day plenary at Seoul in June. New Delhi’s eagerness to gain a seat at the table that controls the global nuclear commerce fizzled and it has tried to place onus of sour grapes on Beijing’s so-called procedural hurdles. This is an untruth.
As the meeting concluded by 48 members of Nuclear Supplier Group (NSG), procedural hurdles persistently stay there despite hectic lobbying efforts by Indian Government. This still made it clear that opposition exists within.
The U.S. support to mainstream India among recognized nuclear states is more likely based on nepotism rather than merit. No doubt India is the South Asian regional power with huge land, manpower and economy. However its regional strategic insecurity as well as coercive military aggression towards neighboring countries to submit to the Indian superiority complex is conflict provoking.
The global climate change agreement reached in Paris at the end of last year is proving to be a game-changer in driving global shifts in the energy market.