Tag: natural resources

Outrage as British Trawler Detained by French Navy Days After PM Starmer Betrays Fishing Industry in His ‘Brexit Reset’

Failing British Prime Minister is under fire for his ‘Brexit Reset’ deal with the European Union, in which he basically sold out his Fishing Industries by allowing EU boats unfettered access to the UK’s waters for the next 12 years.

The situation became even more volatile after a British trawler was held in French custody yesterday (24) after it was allegedly caught operating without a license in the English Channel.

Daily Mail reported:

“The Lady T, which is based in Eastbourne, East Sussex, was being held in Boulogne-Sur-Mer on Saturday and now risks being confiscated. She was caught by the Pluvier, a French Navy ship, on Thursday, and the catamaran’s skipper now faces prosecution for fishing for whelks without a license.”

This comes days after Starmer closed a deal with the EU on fishing rights which is seen as hugely favoring the French.

The French Navy’s ‘public service patrol vessel’, the Pluvier, was inspecting in the French Exclusive Economic Zone.

French Maritime Authority spokesman: “’During this operation, which was part of the State’s maritime enforcement, a British fishing vessel was inspected by sailors from the Navy patrol vessel while fishing without a license in French waters.

‘As the offence was proved, the fishing vessel was diverted during the night of May 23rd to the port of Boulogne-Sur-Mer, following the instructions of the Delegate for the Sea and Coastline, acting on behalf of the Regional Prefect, who oversees the fisheries police, for the purpose of initiating prosecution under the authority of the Public Prosecutor.’”

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Ukraine’s Parliament Ratifies US Minerals Deal In Hopes Of Securing Future Arms

The minerals deal is now official and legally binding for Ukraine as on Thursday Ukraine’s parliament voted in favor of ratifying the controversial resources agreement with the United States. This was a final key step in its adoption.

The Zelensky government is hoping this will more firmly secure future military assistance from Washington. The vote was unanimous: 338 Ukrainian lawmakers approved of ratifying it, and none opposed.

“The Ukrainian Parliament has ratified the historic Economic Partnership Agreement between Ukraine and the United States,” First Deputy Prime Minister Yulia Svyrydenko announced on X.

“This document is not merely a legal construct — it is the foundation of a new model of interaction with a key strategic partner,” Svyrydenko added.

Critics have warned that this could be a big resource grab by the United States, but since it’s signing was accomplished in Washington last month, Trump administration rhetoric toward Kiev has softened. For example, Trump is no longer demanding that Ukraine quickly move toward holding new presidential and parliamentary elections.

Meanwhile, Moon of Alabama has highlighted that there’s still a fight on as well as confusion over some suppressed details of the deal, citing Strana, which reported (machine translation)…

The opposition already accuses the authorities of concealing the main points about the deal. The fact is that the agreement on the creation of the fund, signed last week and already made public, is being submitted for ratification, and there are very few specifics in it. This is essentially a framework agreement. For all the main points in the text of the agreement, there are references to another document – the Limited Partnership Agreement. There is also a third document – the Foundation’s charter.

A number of deputies claim that all three documents have actually been signed (or agreed upon). But they showed only one-the least important and most abstract of them, from which it is not even clear what the Foundation will do in general.

The government denies this, saying that only one document has been signed, and the rest will still be discussed.

Trump has indicated the US could just walk away from efforts to mediate peace, if neither side is a willing partner. The White House has not said whether this means it would halt arms for Ukraine’s military, or intelligence-sharing. 

But the minerals deal means the US is indeed very likely to continue arming Kiev. After all, the White House now has more of an interest in protecting US ‘investment’ now and into the future.

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Gas prices could top $8 in California by 2026 due to refinery closures, report warns

According to a new report, gas prices in California could increase up to 75% by the end of 2026 as the state prepares to lose nearly one-fifth of its oil refining capacity.

The scheduled closure of the Phillips 66 refinery in Los Angeles, along with Valero’s planned shutdown of its facility in Northern California, represents a potential 21% reduction in California’s refining output over three years, according to a report by Michael A. Mische of USC’s Marshall School of Business.

“The estimated average consumer price of regular gasoline could potentially increase by as much as 75% from the April 23, 2025, price of $4.816 to $7.348 to $8.435 a gallon by calendar year end 2026. We can expect retail prices to be even higher in counties such as Mono and Humboldt,” Mische wrote.

California currently consumes more than 13.1 million gallons of gasoline daily. With the state producing just under 24% of its crude needs, the loss of refining capacity could create a deficit of 6.6 million to 13.1 million gallons per day.

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“We Are At A Tipping Point”: Shale Giant Diamonback Says US Oil Output Has Peaked, Slashes CapEx Amid OPEC Price War

The OPEC price war has made landfall in the US.

Following our report earlier that Saudi Arabia has declared a new price war on OPEC+ quota-busters such as Kazakhstan, and non OPEC+ members such as US shale producers, today after the close Diamondback Energy, the largest independent oil producer in the Permian Basin, made a historic pronouncement today when it said that production has likely peaked in America’s prolific shale fields (something we also mentioned earlier in the day) and will decline in the months and years ahead after crude prices plummeted.

Separately, the Texas company trimmed its own full-year production forecast Monday, and said that it expects onshore oil rigs across the entire US industry to drop by almost 10% by the end of the second quarter and fall further in the months after.

“This will have a meaningful impact on our industry and our country,” Diamondback Chief Executive Officer Travis Stice wrote. “We believe we are at a tipping point for U.S. oil production.”

The outlook from Diamondback, one of the industry’s most prominent producers, marks a key shift for expectations within the sector. Before oil prices started plunging last month, most banks and research firms had forecast US shale production would grow this year and next before plateauing later in the decade. The Permian, they said, was apt to peak in the late 2020s or early 2030s depending on prices.

Not any more.

As Bloomberg notes, the US shale fields have been the engine behind the surge in US crude output over the past 15 years, making the country the world’s top producer and largely energy independent, much to the horror of OPEC. The ability of companies like Diamondback to quickly bring new wells online using hydraulic fracturing, also known as fracking, has bedeviled OPEC. But the prospect that shale may now have reached its peak and is facing years of painful decline, poses a huge threat to US President Donald Trump’s goal to turbocharge fossil fuel production.

While analysts and pundits have long said repeatedly that US shale is poised to peak, the industry had managed to prove them wrong by innovating and driving output to fresh records year after year. 

So the assertion by Diamondback that the moment has finally come is extremely noteworthy.

“Today, geologic headwinds outweigh the tailwinds provided by improvements in technology and operational efficiency,” said Stice, who will step down as CEO at the company’s annual shareholder meeting later this month.

US oil futures, pricing in a global demand recession, have dropped about 20% since the start of April when Trump announced wide-ranging tariffs that triggered a global trade war. At the same time, OPEC and its allies have surprised markets with plans to increase oil supplies more than expected later this year in response to internal bickering, and particularly the unwillingness of some members such as Kazakhstan to comply with set production quotas.

It’s led to frustration spilling out both privately and in public comments from America’s oil bosses. US Energy Secretary Chris Wright sought to reassure the industry during a visit to Oklahoma last month, saying turmoil from the president’s trade war is likely to be fleeting.

“We can’t help but wonder if the last ‘letter to stockholders’ written by outgoing CEO Travis Stice was intended as much for government leaders in Washington, DC as it was for FANG shareholders,” Tim Rezvan, an analyst at KeyBanc Capital Markets wrote in a note to clients.

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U.S. Pushes Congo and Rwanda to Sign Ukraine-Style Mineral Deals

Massad Boulos, President Donald Trump’s senior adviser for Africa policy, told Reuters on Thursday that the administration wants the Democratic Republic of the Congo (DRC) and Rwanda to sign a peace treaty with each other — and then sign Ukraine-style minerals deals with the United States.

Boulos predicted a minerals deal with the DRC would be signed on the same day as the Congo-Rwanda peace accords, “and then a similar package, but of a different size, will be signed on that day with Rwanda.”

That day, according to Boulos, should come sometime in the next two months. At a meeting in Washington last week, the DRC and Rwanda agreed to an ambitious timetable that included both of them submitting drafts of their half of the peace treaty on May 2. Secretary of State Marco Rubio is scheduled to preside over another meeting in Washington to finalize the peace treaty by mid-May.

Rwanda’s side of the deal included a pledge to stop supporting M23 and other insurgent groups that have been rampaging through the eastern Congo. The insurgents captured several key cities in the DRC at the beginning of the year, and when they marched through the gates of their captured towns, Rwandan troops marched right alongside them.

In return for Rwanda pulling out its troops and halting support for the insurgents, the DRC will promise to take Rwanda’s security concerns seriously, including action against a Rwandan insurgent group that operates in the Congo, the Democratic Forces for the Liberation of Rwanda (FDLR).

The FDLR is one of more than a hundred armed groups operating in the eastern Congo. It is of particular concern to Rwanda because its members are mostly members of the Hutu tribe and they are determined to overthrow the government of Rwanda, which is largely controlled by the Tutsi tribe at present. The Hutus attempted to exterminate the Tutsis in the 1994 Rwandan genocide.

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Russian Official Says Trump’s Mineral Deal Forces Ukraine to Pay For Future US Military Aid

Following the signing of President Donald Trump’s mineral deal by Ukraine, Deputy Chairman of Russia’s Security Council, Dmitry Medvedev, said that Washington has broken the Zelensky Regime with the agreement. He posited that Washington is effectively forcing Kiev to pay the U.S. for its future military aid. Medvedev’s analysis appears to pan out based on statements by Reuters, The New York Times and the Ukrainian official who signed the deal.

“Trump has broken the Kiev regime to the point where they will have to pay for U.S. aid with mineral resources,” Medvedev said on Telegram. “Now they (Ukrainians) will have to pay for military supplies with the national wealth of a disappearing country.”

U.S. military aid, specifically air defense, is part of the mineral deal, however that aid will be derived from the newly created fund, which is paid for by Ukraine’s own mineral resources.

“The Fund will finance reconstruction efforts, with both sides contributing – including via future U.S. military aid in the form of air defense, a notable change from the last deal draft,” the Kiev Post said Wednesday.

While the full text of the final mineral deal has not yet been officially published, several sources have reported on the fact the agreement does not provide specific ‘security guarantees’ for Ukraine, a key stipulation of Ukrainian Dictator Vladimir Zelensky’s ‘victory plan‘.

“The Trump administration did not immediately provide details about the agreement, and it was not clear what it meant for the future of American military support for Ukraine. One person familiar with the negotiations, discussing them on the condition of anonymity, said the final deal does not include explicit guarantees of future U.S. security assistance. Another said the United States rejected that idea early in the process,” The New York Times said Wednesday.

“The agreement did not, however, provide any concrete U.S. security guarantees for Ukraine, one of its initial goals,” Reuters said Wednesday.

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NatGas Generators Rescued Spain From Net Zero Death After Power Collapse

We want to congratulate Portugal and Spain for achieving net zero earlier this week, well ahead of the 2050 target.

Europe’s dangerous and radical shift to unreliable net zero energy has been nothing short of a disaster and an embarrassment for the far-left liberals high in their castles in Brussels. 

The progressives ramming green ideology down our throats seem completely divorced from reality, having steered the West toward a bleak future built on unreliable green energy—much of it sourced from China.

Meanwhile, China is rapidly expanding its reliable coal and nuclear power generation. One can’t help but wonder whether leftist politicians are inadvertently sabotaging the very foundations of the West. 

The inconvenient truth for Western liberals is that fossil fuel power generation is what restarted Spain’s power grid after the worst power blackout in a generation. 

“SPAIN’s black start after the cascading power failure relied heavily on gas-fired and hydro generators to re-energise the grid and establish synchronism,” commodities analyst John Kemp wrote on X. 

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Media shows no scrutiny of study claiming oil companies made the world $28 trillion poorer

A new study published in the journal Nature concludes that the world would be $28 trillion richer if we hadn’t used fossil fuels. Were it not for the “extreme heat” fossil fuel companies are causing, the researchers from Dartmouth College explain, we’d have a much wealthier planet. 

With such dramatic conclusions, multiple outlets in the legacy media breathlessly reported the findings. A report in CBS News quotes celebrity climate scientist Michael Mann supporting this type of research. A D.C. court recently sanctioned Mann in his libel suit against two bloggers, saying he “acted in bad faith when they presented erroneous evidence and made false representations to the jury and the Court.” CBS News’ report makes no mention of this. 

“Extreme weather events continue disrupt [sic] communities and strain finances,” a report on the study in The New York Times states. The lead paragraph in a report in the Associated Press compares using fossil fuels, which are the basis for over 80% of the globe’s energy and thousands of consumer products, to using tobacco. The study, Associated Press climate reporter Seth Borenstein claims, will “make it easier for people and governments to hold companies financially accountable.” 

These articles fail to mention that the methodology used in the study wasn’t developed by impartial researchers dedicated to following science. The methodology, it turns out, was developed by anti-fossil fuel activists whose aim is to support climate lawsuits against oil companies. The study’s authors also consulted with a lawyer who works at a law firm that stands to profit from climate litigation. 

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Island dripping with GOLD could be Trump’s next win if he seizes chance for ‘deal of the century’

Trump’s love of gold is no secret. From the gilded splendor of Trump Tower to Mar-a-lago’s gleaming ballroom, the president is known to revel in all that glitters. 

But has a golden opportunity just arisen for Trump to take control of a tropical island complete with its own gold mine? 

Bougainville, which is currently part of Papua New Guinea, voted overwhelmingly for independence in 2019, but the poll wasn’t binding. Now a local leader says he is open to a deal for it to become part of the United States. 

Given the island’s strategic significance in any future war with China, it could be well worth its weight! 

Bougainville’s president, former rebel commander Ishmael Toroama, says: ‘If the US comes and says, “Yes, we support Bougainville independence,” then, I can say, “Well, the Panguna mine is here. It’s up to you.”‘

‘Bougainville is for independence. It is only a matter of time,’ he told The World in October, setting 2027 as the target for full statehood. 

At the center of the battle for independence lies Bougainville’s immense natural wealth — particularly the dormant Panguna mine, once one of the world’s biggest sources of copper and gold. 

It’s estimated to still hold 5.84 million tons of copper and nearly 20 million ounces of gold — worth around $60 billion today.

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US demanding $100bn compensation from Ukraine

The US continues to insist that Ukraine should pay it tens of billions of dollars as part of a resource deal in compensation for American assistance in the conflict with Russia, but has scaled back its initial assessment of the final amount, Bloomberg reported on Wednesday, citing sources.

Washington and Kiev have for weeks been discussing a resource deal – a concept first floated by Vladimir Zelensky last year – which would grant the US access to Ukraine’s deposits of rare earths.

Following a round of talks in Washington last week, officials from the administration of US President Donald Trump cut their estimate of American assistance to Kiev from more than $300 billion to about $100 billion, Bloomberg sources said. Ukraine itself assesses total aid US during the conflict with Russia at just over $90 billion.

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