Paris is currently hosting a UN conference aimed at waging war on climate change little more than two weeks after suffering the largest terrorist attack experienced in France since 1944. Declared by President Obama, Secretary of State John Kerry, and other major administration players as the “greatest global threat,” we can only wonder how many civilized world citizens recognize the colossal dimensions of this frightful delusion. Adding symbolic irony to this tragedy, Al Gore was forced to suspend his 24-hour climate alarm webcast in front of the subsequently darkened Eiffel tower just hours after those deadly attacks occurred. Intended to promote [...]
OPEC's Secretary General Abdulla al-Badri last month predicted oil prices will rebound to as much as $200 per barrel, a figure CFACT advisor Marita Noon suggests could only come about if terrorism and internal strife force shutdowns of major oil-producing states such as al-Badri's native Libya and other Middle Eastern nations vulnerable to radical assaults. Otherwise, Noon notes, as soon as the price jumps about $70 per barrel, the nimble U.S. wildcatters will step up their production again and hold the oil price well below al-Badri's predicted $200 per barrel.
According to CFACT advisor Marita Noon, while the U.S. oil shale boom (the result of fracking) has dramatically increased domestic oil and gas production, the Middle East is still playing a significant role both in the current drop in oil prices and down the road. ISIS is selling oil at below-market prices to willing rogue customers, and Saudi Arabia has increased its own production, even as the price of oil falls below the amount needed to sustain the Saudi economy. The Saudis are hoping to push both American and Canadian oil prices down below the cost of extraction from both shale and tar sands in hopes of slowing down or even stopping expansion of North American exploration and production.
World leaders -- other than Barack Obama -- are ignoring the United Nations as it tries very hard to promote the New York City climate conference as a major event. Meanwhile, President Obama and his coterie have been taking great pains not to alienate their antiwar base while plotting air strikes against the Islamic State that the President says is not Islamic.