Tag: natural resources

The Iran Obsession

I was reading an old Atlantic Monthly from November 2007 and came across this quote:

We’ve got to be patient and committed [in Iraq], but we’ve got to multitask… We’ve got to talk about Iran – Iran is more dangerous than Iraq – and we have got to get the job done in Afghanistan and in Pakistan.

That was Rudolph Giuliani, speaking as a Republican presidential candidate in July 2007.

Back then, the saying was that everyone wants to go to Baghdad but that real men want to go to Tehran. Weirdly, neither Iran nor Iraq had anything to do with the 9/11 attacks in 2001. What those countries did have was oil – and lots of it.

The Iran obsession persists, of course, and it’s shared by both political parties. When she ran for president in 2024, Kamala Harris identified Iran as the greatest adversary the United States faced in the world.

The truth is that neither Iran nor Iraq posed a direct or imminent threat to the USA. What each country possessed was an enormous amount of oil and political leaders who didn’t want to kowtow to U.S. economic imperatives.

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Norway Lobbies To Persuade EU To Drop Arctic Drilling Ban

Norway, Western Europe’s top oil and gas producer, has intensified lobbying at the European Union to persuade the bloc to remove or tweak its moratorium on Arctic oil and gas drilling.

Norway, which is not a member of the EU but is the biggest gas supplier to European markets, has sent nearly a dozen of its ministers to Brussels so far this year to discuss energy and trade and the state of the Arctic drilling.

The Iran war and the biggest oil and gas supply disruption in history have added to Norway’s arguments that Europe needs reliable supply from places outside of conflict zones.

However, the EU’s moratorium enacted in 2021 due to the bloc’s climate commitments and environmental concerns, does not allow drilling in Norway’s northern parts of the Barents Sea, which is estimated to contain most of the remaining Norwegian oil and gas resources.

“Norway is very active and good at making its voice heard,” the EU’s special envoy for the Arctic, Claude Veron-Reville, told Bloomberg in an interview this week.

“Norway knows very well how to intervene, they are very well organized and very present,” Veron-Reville added.

Norway argues that an arbitrary line defining the Arctic area shouldn’t be viewed as the cut-off line for oil and gas drilling.

“There are no climate arguments for treating oil and gas produced north and south of a certain line differently,” Norway’s Foreign Minister Espen Barth Eide told Bloomberg.

Norway’s lobbying efforts clash with this week’s call of dozens of Scandinavian financial institutions which urged the European Commission to remain firm in its opposition to Arctic oil drilling even as the bloc could face physical oil shortages in weeks.

The EU could unlock 3.5 billion barrels of oil equivalent (boe) of natural gas, or about 22 trillion cubic feet, if it rethinks its Arctic policy, Norway-based consultancy Rystad Energy said early this year.

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House Passes E15 Bill as Government Panics Over Energy Crisis Begins

Congress is pushing nationwide year-round E15 gasoline because they are worried about fuel supply disruptions and soaring prices as the war cycle intensifies. They call it “consumer choice” and “energy independence,” but when you strip away the political marketing, what they are really doing is diluting the fuel supply because they are terrified of shortages and price spikes.

The House just passed H.R. 1346, the Nationwide Consumer and Fuel Retailer Choice Act, by a vote of 218-203. The bill would permanently allow year-round sales of E15 gasoline nationwide. E15 is gasoline blended with 15% ethanol instead of the standard 10%. Congress and the EPA are presenting this as some patriotic victory for farmers and consumers while pretending Americans are not noticing what is really taking place.

The government keeps saying E15 lowers prices at the pump. Of course, it does on paper. You are blending more ethanol into the fuel supply. Ethanol contains less energy per gallon than pure gasoline. That means your mileage declines and your tank empties faster. People end up buying more fuel more often while politicians brag that prices “fell” a few cents per gallon. Americans are paying more for less while Washington pretends this is economic progress.

The EPA openly admitted the purpose behind the emergency waivers was to “prevent disruption in America’s fuel supply” as the Iran war pushed energy markets into panic. They are not doing this because the economy is strong. They are doing this because they are worried about supply itself.

“President Trump is unleashing American Energy Dominance, and today’s action will directly lower prices at the pump and gives a clear demand signal to our domestic biofuels producers. Allowing the summer sale of E-15 will provide drivers more options at the pump, and deliver a bigger domestic market for American farmers,” said U.S. Secretary of Agriculture Brooke L. Rollins. The government is congratulating itself for putting lipstick on a pig. Trump spent years condemning Biden’s energy policies that led to elevated prices for different reasons. Washington does not want voters to look at an $ 8-per-gallon situation and suddenly realize that government policy has failed yet again because politicians continually act in their own self-interest while jeopardizing the entire country. The people always suffer when government instigates war. Quite unfortunate as Trump promised to keep America out of the Middle East, but somewhere along the way he morphed from a businessman into a politician. Human nature is consistent.

Governments dilute and stretch what they can at the beginning of a crisis. They lower standards quietly while telling the public everything is under control. You see it in currencies, banking, food quality, and now fuel. The objective is always the same: make a limited supply appear larger. Could this improve consumer sentiment regarding energy? People are still going to pay more at the pump. The end result is higher prices which equates to angry and fearful consumers. It is absolutely insulting for our overlords to question our intelligence in this manner. They genuinely believe we are too stupid to notice.

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75% of Blairmore residents want a coal mine — so why are outside activists allowed to block it?

The people of Blairmore already had their say. They want the coal mine.

While celebrity activists from outside the region push for a province-wide referendum to stop a proposed coal mine in Alberta’s Crowsnest Pass, locals in Blairmore voted nearly 75 percent in favour of the project. But apparently, that democratic result only counts if the “right” people vote the “right” way.

On tonight’s episode of The Gunn Show, longtime energy advocate and Oil Sands Strong founder Robbie Picard talks about his work amplifying the voices of the people who actually live in the region and stand to benefit from the jobs, investment and economic activity tied to the proposed mine.

Instead, the debate has been hijacked by celebrity opposition campaigns led by musicians like Corb Lund and George Canyon, whose province-wide citizen initiative petition seeks to override the wishes of the local community through a referendum driven largely by outside activists.

Picard argues this fight is about more than coal. It’s about whether rural Albertans still have the right to shape their own economic future without being steamrolled by urban activists, celebrities and political pressure groups who parachute in for the headlines and leave locals to deal with the consequences.

If “local voices matter” is more than just a slogan, why are the people of Blairmore being ignored after already voting overwhelmingly in favour of the project?

And why is Alberta’s resource economy subjected to veto campaigns, while the communities that depend on these projects are treated like their opinions don’t count?

Robbie Picard joins me to discuss the growing backlash from rural Albertans who are tired of being talked down to by people who don’t live there, don’t work there and won’t suffer the economic fallout if these projects are killed.

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US, India Sign Critical Minerals And Rare Earths Mining Pact

The United States and India signed a key agreement on May 26 to secure critical minerals and rare earth mining, processing, and supplies, further loosening China’s grip on the global market, during Secretary of State Marco Rubio’s four-day visit.

“We are two countries who have a strategic interest in ensuring reliable long-term access to critical minerals and supply chains that are important for our innovation economy,” Rubio said during the signing. “This is a very important step.”

Rubio was in India for a four-day diplomatic visit May 23-26 to shore up the United States’ partnership with what he called “one of our most important strategic partners in the world.”

He said the talks included a scope of issues that the United States works together on with India.

In a similar statement about the agreement, India’s External Affairs Minister S. Jaishankar said the framework will strengthen resilient and diversified supply chains, help both nations collaborate on financing, and also help with the effective management of critical minerals and rare earths.

“I think it’s a very important initiative,” Jaishankar said during the signing. “It’s one more sign of how close our cooperation is and how important it is today in a world where there are so many challenges but also so many opportunities.”

The framework for the agreement first began to take shape in February when India signed onto Pax Silica, a U.S.-led strategic initiative and coalition aimed at securing a global supply chain for artificial intelligence (AI) progress and economic security. India was one of 14 countries to sign the agreement.

India has one of the world’s largest rare earth elements reserves, and existing processing capabilities that can be developed, according to the Center for Strategic and International Studies (CSIS), a bipartisan think tank organization. The country has rich sand deposits containing monazite, which includes thorium and other minerals. Thorium is a nuclear fuel.

China accounts for about 60 percent of global rare earth elements production and about 90 percent of processing.

On May 26, Rubio also announced signing a partnership charter and agreement on critical minerals with Armenia.

Rubio held a ceremony with Armenian Foreign Minister Ararat Mirzoyan signing the bilateral framework agreement on the Trump Route for International Peace and Prosperity. They also signed a Strategic Partnership Charter and agreement on critical minerals.

Armenia mainly mines iron, copper, molybdenum, lead, zinc, gold, silver, antimony, and aluminum. The country also has valuable reserves of rare metals, including gold-polymetallic, copper-molybdenum, and copper pyrite deposits, according to the U.S. International Trade Administration.

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Iraq’s Oil Collapse Sparks Race For New Export Routes

  • Iraq’s oil production has collapsed to just 1.39 million bpd after the Strait of Hormuz blockade stranded exports.
  • Baghdad is urgently trying to revive northern export routes through Turkey, including the Kirkuk-Ceyhan system and a new Kirkuk-Nineveh pipeline.
  • China is re-emerging as a major strategic player in Iraq’s energy infrastructure, with Chinese firms heavily involved in Baghdad’s new north-south pipeline expansion.

April was indeed the cruellest month for decades for Iraq’s crude oil production, with an average of 1.389 million barrels per day (bpd) over the period. This compares to a monthly average of 3.47 million bpd from January 2002 to the end of March this year, and an average of over 4.1 million bpd in the three months leading up to the onset of the U.S./Israel-Iran War on 28 February. The last time oil production fell to the current level in the country was in the early 2000s, during and immediately following the 2003 U.S.-led invasion. Even for a diversified economy, this would spell bad news, but for Iraq, it is existential, with over 90% of its annual budget historically coming from oil and around 95% of that black gold having to pass through the still-blockaded Strait of Hormuz before it is monetised. The effective closure of that key export route meant that Iraq’s domestic oil storage tanks quickly filled to maximum capacity, and because it has extremely limited options to transport its crude elsewhere, it has been forced to shut down production wells entirely. As disastrous as it is now, even worse may be to come soon, as these shutdowns can cause permanent damage to wells through a loss of reservoir pressure, water infiltration, and corrosion, among other factors. In Iraq’s case, many of its biggest mature southern fields are highly susceptible to these problems. This is why the race has been on in Baghdad to secure other export options, most notably now, pipeline options in the north, but these bring their own sets of problems with them.

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Britain Desperate for Oil

Britain is now discovering you cannot dismantle your industrial and energy base, wage war on domestic production, impose endless climate regulations, and still expect to maintain a functioning economy. Reality eventually arrives no matter how many politicians attempt to legislate against it.

The UK is quietly loosening oil and gas restrictions because the country is becoming desperate. After years of aggressively pushing Net Zero policies, discouraging North Sea investment, raising windfall taxes on producers, and pretending renewable systems alone could carry an advanced industrial economy, Britain is being forced to confront the simple reality that energy shortages destroy economies from the inside out.

The North Sea once represented one of the great strategic advantages for Britain. During the peak years around the late 1990s and early 2000s, the UK was producing nearly 4.5 million barrels of oil equivalent per day. That production has collapsed by more than 70% over the past two decades. At the same time, Britain became increasingly dependent on imported energy while shutting down domestic capacity.

What politicians never understand is that energy is not just another sector of the economy. Energy is the economy. Every industry depends upon it. Food production depends on it. Transportation depends on it. Manufacturing depends on it. Once energy prices rise high enough, inflation spreads through the entire system because energy sits underneath every layer of economic activity.

Britain now faces exactly the trap I warned Europe was heading toward. Deindustrialization combined with rising debt and declining living standards. Manufacturing weakens, capital flees, energy costs rise, and governments respond with more taxation and regulation which only accelerates the collapse further. This becomes a vicious cycle.

The desperation is now becoming obvious. The UK government is reportedly reconsidering restrictions on North Sea drilling and attempting to stabilize investment conditions because energy firms were already beginning to abandon projects entirely. The punitive tax structure imposed on producers created massive uncertainty while investment dried up. Companies simply stopped committing capital because governments kept changing the rules in the middle of the game.

Europe is in a depressionary phase while capital continues moving toward countries with stronger energy and industrial positions. You cannot build an economy entirely on financial services, bureaucracy, migration, and government spending while destroying the productive base underneath society itself.

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Trump Floats Making Venezuela The 51st State

First Canada, then Greenland… and now Venezuela?

President Donald Trump said Monday he is seriously considering annexing the South American nation as the 51st U.S. state, citing the country’s vast oil reserves and what he described as strong local support for his leadership.

In a telephone interview with Fox News anchor John Roberts, Trump mused that he is weighing the move for a nation that holds an estimated $40 trillion in oil resources.

“Venezuela loves Trump,” the president told the reporter.

The suggestion comes months after U.S. forces conducted a military operation in Venezuela in January that resulted in the capture of longtime President Nicolás Maduro and his wife, Cilia Flores. The couple was extradited to the U.S. to face narco-terrorism and weapons charges, effectively ending more than a decade of socialist rule that had transformed one of Latin America’s richest economies into an economic disaster marked by hyperinflation, mass emigration and the breakdown of public services.

Rather than installing opposition figure María Corina Machado, a Nobel Peace Prize recipient, as the new leader, the Trump administration supported the installation of Delcy Rodríguez—Maduro’s former vice president—as interim president. Trump has described the arrangement as “spectacular” and predicted a rapid economic turnaround.

Rodríguez’s government has moved swiftly on economic reforms. Within weeks of taking power, it enacted legislation opening the oil sector to privatization, dismantling core elements of the Chavista model that had dominated for more than two decades.

Meanwhile, commercial activity has accelerated thanks to Chevron, which signed two agreements expanding its participation in a joint venture with state-owned Petróleos de Venezuela SA in the Orinoco Oil Belt, Reuters reported at the time.

Venezuelan oil output is already rising.

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Amid Energy Crisis, Norway Reopens North Sea Gas Fields, Will Sell Output to ‘Net-Zero’ Britain That Refuses to Explore Its Own

Reactivation project will help power millions of homes.

While the United Kingdom continues to be fixated in their ‘net-zero’ lunacy, Norway is set to revive three gas fields in the North Sea.

Norwegians go ‘drill, baby, drill’, reopening the fields for the first time in three decades, as Norway tries to meet growing export demand from Germany and the UK.

Norway is reopening gas fields in the North Sea after almost 30 years.

The Norwegian’s will be selling us this gas.

We could drill for gas, in the same sea.

Is this the smart approach? pic.twitter.com/tYWTA3AU6w

— Looking for Growth (@lfg_uk) May 6, 2026

The Telegraph reported:

“Steinar Våge, the European president of ConocoPhillips, the hydrocarbon company behind the reactivation, said the three fields would produce about 19 billion cubic meters of gas. That is equivalent to powering up to three million homes in the UK.

‘By utilizing existing infrastructure, we can produce substantial resources at low cost, and strengthen gas exports to Europe’, he said.”

“Norway’s push to ramp up oil and gas exploration represents a marked difference to what is happening in the UK, where about 180 of its 280 fields are set to close by 2030. In the last 12 months, Britain spent £20bn buying oil and gas from Norway and that reliance is only set to grow further.”

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Trump: There Could Be a Future Where U.S. Energy Companies Operate in Iran

President Donald Trump said there “could be” a future where American energy companies are operating inside of Iran in response to a question from Breitbart News on Saturday.

Trump spoke to reporters for just over three minutes on the tarmac of Palm Beach International Airport before boarding Air Force One and departing for Miami.

When Breitbart News asked if he envisions a future where American energy companies are operating inside of Iran, much like Venezuela, he said, “Could be.”

“Could be. It could be. I’ll tell you what, we have a lot of ships coming up to Texas and Louisiana. It’s a line of ships,” he said. “You saw the satellite. We have a line of ships; big ones. Two million barrels, and they’re coming up. I mean, literally hundreds of ships are in line to go to Texas. I mean, they’re already started, but we’re selling a lot of oil. A lot of oil.”

Before taking any questions, Trump said that Iran desires a deal.

“[We’re] doing very well with regard to Iran. Again, they want to make a deal. They’re decimated. They’re having a hard time figuring out who their leader is. They don’t know who their leader is because their leader is gone…their former leader,” he told reporters, referring to Ali Khamenei, who was killed at the beginning of Operation Epic Fury.

The president’s gaggle with reporters came soon after reports surfaced from Iranian state media that Iran had countered a 9-point U.S. proposal for a deal to end the war with their own 14-point plan.

Trump said he had not yet read the proposal but would do so aboard the short flight on Air Force One to Miami.

“I’ll let you know about it later,” he said.

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