Oil price collapse, US$ rise confirm Great Unwinding underway
Stock markets are floating ever higher on an ocean of central bank money printing. But something else is happening in the real world where we all live and work. Since August, I have been warning…
China plans $90bn spend on new “Silk Roads”
I am just back from my first World Economic Forum meeting, having been invited to join its global chemicals council. My first impression was astonishment – at the complete disconnect between the real knowledge…
Oil prices under pressure as US oil and gas output rises
Just 10 years ago, then BP CEO John Browne shocked the oil industry by suggesting that oil prices might “temporarily” rise to $40/bbl due to an imbalance of supply and demand, before…
US heads for record oil and gas output
Sometime over the next year, the US is likely to set a new all-time record for oil production, reversing the pre-2008 trend. Natural gas production has already reached new all-time peaks. As the…
World Aromatics and Derivatives Conference next week
Our 13th annual World Aromatics & Derivatives Conference takes place in Berlin next week. Jointly organised as always by International eChem and ICIS, it features a must-hear list of speakers: ExxonMobil: Europe…
Great Unwinding leads to major chemical market downturn
It is now almost 3 months since I suggested the Great Unwinding was about to hit oil and chemical markets. As the chart above shows, there has since been a major collapse…
Boom/Gloom Index suggests S&P 500 close to its peak
How long can the juggler keep all the balls in the air? That is the question that compels us to stand in the square and watch her skill at work. We have…
US jobs data confirms long-term decline in participation rate
Many people, including former US Federal Reserve Chairman Paul Volcker, have questioned whether it is really possible for the US Federal Reserve to use monetary policy to boost employment. What can the Fed do…
China’s smartphones outsell Samsung & Apple combined in Q3
The picture on the right is the Xiaomi Mi4 smartphone. The 16GB version sells in China at Rmb 1999 ($326), and the 64GB version at Rmb 2499. By comparison, Apple’s iPhone 6 sells for Rmb 5288….