Despite the US’s authorization to release 180 million barrels from the Strategic Petroleum Reserve, Saudi Arabia and the UAE have kept to their OPEC+ commitments to increase production by 400kbd per month to support their domestic industries. Politics does play … Continue reading Why is OPEC reserving it’s oil during the Russian/Ukraine War?
The finance ministers meeting today at the G20 held in Moscow have today pledged to ensure that multinational companies will no longer be able shifting profits from a home country to pay less tax elsewhere – the aim is to prevent tax avoidance by large companies. France, Britain and Germany have been the main proponents seeking radical changes to existing european legal loopholes and members of these countries also promised to refrain devaluing their currencies to gain economic advantage; which could cause a “currency war”. The fears had been sparked by Japan’s recent policies, which have driven down the value of the yen, aiding its exporters. … Continue reading G20 To Tackle Tax Avoidance
Amnesty International UK will host a free screening of the acclaimed documentary about the notorious case of the “Angola 3” on Tuesday 10 July. The 2010 film – In the Land of the Free, with narration by Samuel L Jackson – tells the story of how three men – Herman Wallace, Albert Woodfox and Robert King – were placed in solitary confinement at Louisiana State Penitentiary (known as Angola prison) in the USA in 1972. Wallace and Woodfox – who were convicted of the murder of prison guard Brent Miller, a crime they have vigorously denied – have now spent … Continue reading Angola 3 Documentary
The current news from the BBC Internet News service concerning Syria Heavy artillery fire has been rocking Homs, as Syrian troops step up an assault on the restive city. A BBC correspondent there describes almost constant blasts, in the fiercest attack in the 11-month uprising. US President Barack Obama said it was important to resolve the conflict without outside military intervention. Meanwhile, Russia and China defended their veto of a UN draft resolution criticising Syria – a move that angered opponents of President Bashar al-Assad. Later the US State Department said it had closed its embassy in Damascus and pulled … Continue reading Syrian Update (from the BBC)
In an attempt to deflect Tehran‘s nuclear development program the European Union has today joined the United States in a new round of measures and imposed sanctions on Iran‘s oil imports to Europe. It however has not imposed a complete ban on oil imports. In response to this a Iranian politician responded by renewing a threat to blockade the Strait of Hormuz, which is a oil export route vital to the global economy, and another said Tehran will cut off it’s crude shipments to the EU immediately which would greatly affect ailing European economies such as Greece, Italy, which depend … Continue reading EU Imposes Oil Sanctions
In the wake of widespread online protest, the House and the Senate have stopped both the Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA) in their tracks. Just this Friday morning, Senate Majority Leader Harry Reid (D-Nev.) announced that he has canceled next week’s Senate vote on PIPA, which is now indeed opposed by many of its co-sponsors. Shortly afterwards, House Judiciary Committee Chairman Lamar Smith (R-Texas) said that SOPA will not be taken up as planned and that legislators must “wait until there is wider agreement on a solution.” Reid indeed acknowledged that ”recent events” — the blackout on Wikipedia and other … Continue reading SOPA AND PIPA GONE, NOW THE OPEN ACT?
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