Americans gobbled up fewer fossil fuels in 2020 than they have in three decades, according to the US Energy Information Administration (EIA). Consumption of petroleum, natural gas, and coal dropped by 9 percent last year compared to 2019, the most significant annual decrease since the EIA started keeping track in 1949. The COVID-19 pandemic was […]
The world’s fastest population growth is accelerating the need for a more diversified economic system in oil-dependent Iraq, according to a top government minister, Arab News reports. Iraqi Prime Minister Financial Affairs Adviser Mazhar Mohammed Saleh called for a new “social market” to reduce oil dependence and boost investment in key sectors such as manufacturing, […]
The United Arab Emirates, like the rest of the world, is re-imagining its economy post-COVID. What might the UAE economy look like once Gulf countries turn a corner? Increasingly diverse is the answer. Let’s check a few predictions of UAE’s economic development in 2021+. And the first comes from ICAEW authors. The UAE economy depends […]
Let us introduce Jack Sargent and his blog post on LSE. He’s is a recent graduate of LSE’s History of International Relations MSc Programme. His research focuses on Middle Eastern regional security issues and nuclear proliferation. His dissertation examined the nuclear ambitions of the Shah of Iran. This author states that The Middle East will […]
The international environmental organization Greenpeace has called on the UN to take immediate action to prevent a possible environmental disaster off the coast of Yemen, where the abandoned FSO Safer tanker with 1.1 million barrels (140 thousand tons) of oil is moored. “The question is not if, the question is when. Moored six kilometers off […]
Climate activists won a landmark victory over Anglo-Dutch Shell corporation, effectively forcing the company to accelerate plans to cut carbon emissions by 45% by 2030. Achieving these goals could put pressure on the company’s new production projects. On May 26, a Dutch court ordered Shell, one of the largest oil and gas companies and the […]
The cascading effect of the ‘Great Lockdown’ disrupted global supply chains and commercial activity. It caused a cumulative loss of around $4 trillion of economic output in the global economy, shrinking global GDP by 4.4% in 2020, according to an IMF report. As Jaykhosh Chidambaran states in his article, despite timely government intervention with fiscal […]
