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Albert Pinto Profile picture
@70sBachchan
Mar 24, 2023 • 13 tweets • 9 min read • Read on X
Scrolly
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… Image
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…
Image
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… Image
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… Image
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
Image
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/… Image
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… Image

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More from @70sBachchan

Albert Pinto Profile picture
Aug 22
The "flying geese" model
"(originally presented by Akamatsu), according to which transfers of tech foreign investment, &trade between richer and poorer parts of a region generate development through a restructuring in the division of labor" - Alice Amsden
citeseerx.ist.psu.edu/document?repid…Image
2/"Japanese and South Korean firms built supply chains across SE Asia to lower production costs and reach Western markets. Samsung invested heavily in manufacturing plants in Vietnam. Japanese automakers like Toyota...set up auto plants across Thailand, Malaysia, Indonesia" Image
3/ "And of course, Japan and South Korea helped turn China into a global manuf hub. Along the way, Japanese & Korean companies frequently brought over their own machinery and equipment while keeping the high-tech, high-value work at home." - @kyleichan
high-capacity.com/p/china-is-try…Image
Read 7 tweets
Albert Pinto Profile picture
Aug 14
NEW Dispatch @polycrisis @kmac: Trump is BRICS' greatest champion. buttondown.com/polycrisisdisp…Image
This week we scan the latest frontiers of Trump’s trade war, from India to Brazil, amid the US pressure campaign against Russia. We end in Alaska, where Putin is slated to meet Trump on Friday. Is a new world order taking shape before our very eyes?
buttondown.com/polycrisisdisp…
2/ On Aug 6, Trump punished India with an addil 25% tariff for buying Russian oil in an executive order The EO’s title —Addressing threats to the US by the Russian Federation —made it clear that this wasn’t about bilateral US-India trade but about Ukraine
buttondown.com/polycrisisdisp…Image
Read 13 tweets
Albert Pinto Profile picture
Aug 5
Holy moly trump killed Moderna in US!!
“The U.S. Department of Health and Human Services (HHS) today announced the beginning of a coordinated wind-down of its mRNA vaccine development activities...." Image
“The projects — 22 of them — are being led by some of the nation’s leading pharmaceutical companies like Pfizer and Moderna to prevent flu, COVID-19 and H5N1 infections.”
apnews.com/article/kenned…Image
Trump government curbing research in vaccines, satellites, NIH, NSF, cancer research, clean energy,
Is this the beginning of the American dark ages? Sure feels like it
Read 11 tweets
Albert Pinto Profile picture
Jul 19
America in its florentine Medici
Era Image
America in its Florentine Medici era
9 billionaire families: Image
Free market capitalism is designed to produce Billionaire Raj. But the extraordinary FAANG tech boom is a v recent development. Since 2016 the largest corporations have shot up in market value. Their CEOs became *more* Right to protect wealth from taxes policytensor.substack.com/p/a-note-on-th…Image
Read 6 tweets
Albert Pinto Profile picture
Apr 29
Mexico's president Claudia Sheinbaum is an energy systems expert. She is positioning Mexico to lead in the global green economy —from EVs & batteries to Renewables,Critical minerals,HVAC manufacturing. Her Plan Mexico is at a critical juncture. Our report:
netzeropolicylab.com/mexico-green-o… x.com/maxvejares/sta…Image
Claudia Sheinbaum:“Plan Mexico is the path that I am certain will lead us to a Mexico with more well-paid jobs, with less poverty & inequality...with a lower carbon footprint that respects the environment and increases our self-sufficiency and sovereignty"
netzeropolicylab.com/mexico-green-o…Image
3/ How did Mexico's President Claudia Sheinbaum became the most popular president in the world?
Read this.
“We will not return to the neoliberal model … We will continue with Mexican Humanism and with the maxim of ‘For the good of all, first the poor.’”
phenomenalworld.org/analysis/the-f…Image
Read 10 tweets
Albert Pinto Profile picture
Jan 12
"The Financial Times has misled its readers by not clearly stating that its promotion of trade blocs and revision of other key principles means in reality the abandonment of neoliberal globalization as a project"

This shd be published in FT @BrankoMilan
braveneweurope.com/branko-milanov…
Its genesis was Martin Wolf leaving a tart comment on Milanovic's blogpost:

Wolf misread @BrankoMilan argument which was not a peaen to Trump ending global neoliberalism but that he ia tool of History. Well worth reading:

branko2f7.substack.com/p/to-the-finla…Image
Martin Wolf: "It is conflicts over power that most threaten globalisation. By seeking to enhance their security, great powers make their rivals more insecure, creating a vicious downward spiral of distrust. We are already a long way down this spiral" ft.com/content/8954a5…Image
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Read 5 tweets

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