With footloose petrodollars, every story is an oil story.
Silicon Valley Tech bubble? Oil
Twitter buyout? Oil
Credit Suisse meltdown? you guessed it, oil.
Our newsletter on how the West is now outsourcing even the energy transition to the Gulf Kingdoms phenomenalworld.org/analysis/stran…
Theres not just unburnable pvt owned Oil - Exxon etc - but National Oil. Companies like Aramco are tied to countries Sov funds,fiscal budgets & jobs. 2 Carbon crash scenarios w different politics:#StrandedAssets & #StrandedCountries
phenomenalworld.org/analysis/stran…
3/ National Oil Companies represent the un-burnable wealth of nations. Western greens must differentiate politics of #StrandedNations & world-order from that of private #StrandedAssets
We wrote about @jimcust @DaveManleyRocks paper
phenomenalworld.org/analysis/stran…
4/ @ProfessorKaren:""Gulf partners"(aka UAE) to do the work on financing green power across MENA,de-escalation &massive FDI effort. Political transformation as a US goal in MENA is over;Gulf state capitalism wins. Oil price flexibility expected in return"
5/ Rich countries had promised developing countries a measly $100 billion in climate $. They never coughed up
Last yr, US signed a $100Bn clean energy partnership w UAE to finance 100 GW in developing countries! We call it the outsourced energy transition
phenomenalworld.org/analysis/stran…
6/Before OPEC,there were only Western Oil Cartels. "On both climate & politics, too many ppl resort to stereotypes of OPEC..that are all too convenient to US & European geopolitical interests"
Could it help Global South's just transition? ht @FuelOnTheFire priceofoil.org/2020/02/10/wha…
7/ Well some bankers are getting punished. Just not European or American ones.
Saudi Crown Prince MBS fires Saudi national Bank chairman Al Khudairy after Swiss takeover of Credit Suisse wiped out shareholders and SNB lost over a billion dollars
8/ 👀"Saudi National Bank chair resigns following Credit Suisse comments"
ft.com/content/6b715d…
We wrote about how every story is an oil story last Thursday. Dumb banker fired Monday.
Conclusion: MBS is reading @polycrisis newsletter ;)
9/ Perhaps the stiffest challenge for a 2ºC Global CO2 budget: The "Unburnable Wealth of Nations". When Petrostates, some US allies others adversaries, can't fund fiscal budgets w Oil & become #StrandedCountries ht @davidmihalyi
foreignpolicy.com/2019/06/05/oil…
10/ Western investors are rushing to Middle east sovereign wealth funds who are raking in an extra trillion dollars from hi oil and gas prices
Saudi king MBS is the moneybags. Dubai's sheikh MBZ is the brains. Ignore the bombastic words,& follow the money
ft.com/content/33a985…
11/ Responding to recession fears, OPEC+ announces a surprise cut of more than 1 million barrels a day!
Prices likely to shoot up.
Money going straight from ppl's pockets into BigOil shareholders and into the treasuries of oil & gas producing nations.
bloomberg.com/news/articles/…
12/ "Saudi officials are at pains to say they don’t have a particular price target. But from their actions it’s clear Riyadh wants to keep Brent crude as close to $100 a barrel as it can."
bloomberg.com/opinion/articl…
MBS wants $$ to diversify economy from oil to finance + services.
13/ Adam Neumann of WeWork scam wants to take new real estate startup 'Flow' to Saudi Arabia.
Truly no bottom to Silicon Valley VCs and firms who contine to benefit from Gulf oil $
bloomberg.com/news/articles/…
our newsletter on the Gulf's new game: phenomenalworld.org/series/the-pol…
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