Rex Tillerson

US tells UN Human Rights Council to reform or they are gone

Another of Trump’s promises is coming to fruition.

The US has told the UN Human Rights Council to reform or they are gone…and presumably their funding goes too.

Foreign Policy reports:

Trump administration is threatening a withdrawal from the U.N. Human Rights Council if it does not undertake ?considerable reform,? Secretary of State Rex Tillerson warned a group of nine non-profit organizations in a letter this?week. ? Read more »

So much for peak oil

It is interesting being in Dubai and listening to people talk about how oil prices will rise again one Iran’s sanctions are lifted and with the low price hurting shale oil.

It is also interesting to wonder why we hear nothing anymore from the hippies about peak oil.

The US shale industry has failed to crack as expected. North Sea oil drillers and high-cost producers off the coast of Africa are in dire straits, but America’s “flexi-frackers” remain largely unruffled.

One starts to glimpse the extraordinary possibility that the US oil industry could be the last one standing in a long and bitter price war for global market share, or may at least emerge as an energy superpower with greater political staying-power than Opec.

It is 10 months since the global crude market buckled, turning into a full-blown rout in November when Saudi Arabia abandoned its role as the oil world’s “Federal Reserve” and opted instead to drive out competitors.

If the purpose was to choke the US “tight oil” industry before it becomes an existential threat – and to choke solar power in the process – it risks going badly awry, though perhaps they had no choice. “There was a strong expectation that the US system would crash. It hasn’t,” said Atul Arya, from IHS.

“The freight train of North American tight oil has just kept on coming. This is a classic price discovery exercise,” said Rex Tillerson, head of Exxon Mobil, the big brother of the Western oil industry.

Mr Tillerson said shale producers are more agile than critics expected, which means that the price war will go on. “This is going to last for a while,” he said, warning that any rallies are likely to prove false dawns. Read more »

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