Global Economy Will Collapse If Oil Prices Remain At $80 Per Barrel

Shale oil production in the United States is profitable at a price of $80 per barrel, according to Putin. “If oil prices remain at $80 per barrel, it will lead to production collapse. Russian President Vladimir Putin said Friday that world economy will collapse if oil prices remain at $80 per barrel. Oil prices started dropping on October 10 after OPEC published its October report which indicates increases in oil production in OPEC-member countries. Crude oil prices have been in decline since mid-June and have lost over 28 percent of their va [...] Read more ...

via Eurasiareview
18 Oct 2014

Container ship towed away from Canadian coast

OLD MASSETT, British Columbia (AP) — Canadian coast guard officials secured a towline to a Russian container ship carrying hundreds of tons of fuel as it drifted without power in rough seas off British Columbia's pristine northern coast. The move lessened the threat of the ship running aground, hitting the rocks and causing a spill.The Canadian F [...] Read more ...

via Ap
18 Oct 2014

The kettle conundrum

The problem of saving the environment, then, is also the fundamental social problem: how do we come together and co-operate? I owe Lucy Mangan an apology. Seven years ago she wrote a column for The [...] Read more ...

via Timharford
18 Oct 2014

Russia And The Price Of Crude Oil

A balanced budget for Russia depends on an average price of crude oil between $110 and $115 per barrel. But with prices recently falling below $90 and signs that the price may stay low for th [...] Read more ...

via Rferl
18 Oct 2014