Sanctions imposed over Iran’s nuclear program lifted

ARTICLE SOURCE: PressTV

Sanctions imposed on Iran over its nuclear program are lifted following confirmation of Tehran’s commitment to​ the Joint Comprehensive Plan of Action by the International Atomic Energy Agency.

European Union foreign policy chief Federica Mogherini and Iranian Foreign Minister Mohammad Javad Zarif made the announcement during a joint press conference in Vienna on Saturday.

Mogherini read out a […]

Why clean energy is now expanding…

ARTICLE SOURCE: Washingtonpost -Why clean energy is now expanding even when fossil fuels are cheap

In a new analysis, Bloomberg New Energy Finance finds that 2015 was a record year for global investment in the clean energy space, with $ 329 billion invested in wind, solar panels, biomass plants and more around the world. (The number does […]

OPEC crude output falls in September, led by Gulf producers’ decline

OPEC crude output fell this month, led by declines in the group’s three-biggest producers.

Output from the Organization of Petroleum Exporting Countries fell by 233,000 barrels to 32.048 million a day this month, according to a Bloomberg survey of oil companies, producers and analysts. Last month’s total was revised 35,000 barrels lower to 32.281 million a […]

Commodity rout beginning to look like a crisis

The 15-month commodities free-fall is starting to resemble a full-blown crisis.

Investors are reacting to diminished demand from China and an end to the cheap-money era provided by the Federal Reserve. A Bloomberg index of commodity futures has fallen 50 per cent since a 2011 high, and eight of the 10 worst performers in the Standard […]

OPEC sees oil prices returning to $80 a barrel by 2020

OPEC forecasters expect oil prices will rise by no more than $5 a barrel a year to reach $80 by 2020, with a slowing in rival non-OPEC production growth not enough to absorb the current oil glut, according to OPEC sources.

The sources said the figures came from an updated mid-term strategy report discussed this week […]

OPEC says the world will want more of its oil next year

OPEC on Monday predicted higher demand for its crude oil next year, sticking to its view that a strategy of letting prices fall will tame the U.S. shale boom and cut a global surplus.

The monthly report from the Organization of the Petroleum Exporting Countries also said a weaker outlook for China would contribute to slower […]

Poverty and Social Inequality

The global political economy is a system that enriches the very few at the expense of the vast majority. The global economic crisis has contributed to widening social inequalities both within and between countries. Under global capitalism, mounting poverty is not the result of a scarcity or a lack of human and material resources. Quite […]

The Failure of Mainstream Economics

The economics profession, particularly in the universities, rarely addresses the actual “real world” functioning of markets. Theoretical constructs centered on mathematical models serve to represent an abstract, fictional world in which individuals are equal. There is no theoretical distinction between workers, consumers or corporations, all of which are referred to as “individual traders”. No single […]

Financial Fraud

Media disinformation largely serves the interests of a handful of global banks and institutional speculators which use their command over financial and commodity markets to amass vast amounts of money wealth. The corridors of the state are controlled by the corporate establishment including the speculators. Meanwhile, the “bank bailouts”, presented to the public as a […]