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Don Quijones – The Big-Oil Bailouts Begin

Despite a bounce this week, low oil prices continue to sow fear, uncertainty, and mayhem across the emerging market complex. On Wednesday, it was leaked that the IMF and World Bank would dispatch a team to oil and gas-dependent Azerbaijan to negotiate a possible $4 billion emergency loan package in what threatens to become the first of a series of global bailouts …

Clean Coal: A Fossil-Fueled Fantasy – By Emily Schwartz Greco

Newfangled carbon-capture power plants supposedly burn coal without poisoning the planet. They don’t. Extracting coal from the ground and disposing of its toxic byproducts makes a dirty mess no matter how it’s burned. But this “clean coal” ruse is conjuring up billions of dollars in government subsidies. Take the 110-megawatt Boundary Dam plant in Canada’s Saskatchewan province, the world’s first carbon-capture operation. …

BRICS

Europe and the BRICS countries forge an independent rating system

Despite attempts to portray the work of the “big three” as globally oriented, the rating agencies maintain a close link to the US financial institutions. The 2008 economic crisis sent their reputations reeling. Now the global market for making ratings needs to be de-monopolized and equipped with new, transparent tools for working with risk. Currently, Fitch, Standard & Poor’s, and …