Middle East

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Category archives for Middle East

Hunger in Egypt

In 2008, before the revolution, the Egyptian Government set a portion of its Army to baking bread for hungry citizens, precisely to forestall revolution.  Now, after revolution, it isn’t clear who will provide the bread for its hungry and angry populace: Around a quarter of the population lives below the poverty line, with another 20 percent…

If you want to see it in color, all you have to do is google image up a history of the price of oil and superimpose it on the price of various staple crops. Take a look at oil and then rice, soybeans, wheat and corn. Look closely at 2008, and at the present. I…

The phrase “oil shock” is being thrown around a lot in the national news, and events in Tripoli at the moment seem to be reinforcing the idea that we’re facing an extended period of instability, and possibly a new cycle of oil price increases and the stress on personal and public economies that accompany rising…

Understanding the Implications of Libya

Two good recent articles on the implications for oil prices and production of the situation in Libya. First, Tom Whipple’s always cogent overall analysis: While the 1.6 million barrels a day (b/d) that the Libyans pumped in January may not appear significant in a world that produces some 88 million barrels each day, we should…

Stuart Staniford has a terrific piece that offers a little visual clarity about food, energy, unemployment and the Riots in the Middle East and North Africa: Tunisia is a minnow in the global oil market, Egypt slightly more important. Algeria, however, matters a lot as its oil production is probably close to total demonstrated OPEC…