The current massive oil glut is the product of the effects of the tight oil or shale oil revolution, which for a time turned the United States into the biggest oil and gas producer in the world. Now, suddenly as a result of an overproduction of world oil, made far worse by the sudden falloff in demand due to the COVID-19 pandemic, we are witnessing the possible euthanasia of the U.S. tight oil industry, bleeding cash even before the oil price collapse and encumbered with mountains of debt. | more…
Since the late twentieth century, capitalist globalization has increasingly adopted the form of interlinked commodity chains controlled by multinational corporations, connecting various production zones, primarily in the Global South, with the apex of world consumption, finance, and accumulation primarily in the Global North. COVID-19 has accentuated as never before the interlinked ecological, epidemiological, and economic vulnerabilities imposed by capitalism. | more…
Overcoming the HIV/AIDS and Special Period crises prepared Cuba for COVID-19. Aware of the intensity of the pandemic, Cuba knew that it had two inseparable responsibilities: to take care of its own with a comprehensive program and to share its capabilities internationally. | more…
Three decades after liberal democracy replaced the military dictatorship of 1964–85, the far right in Brazil has made a comeback, most starkly with the electoral victory of Jair Bolsonaro in 2018. Bolsonaro, however, is not an isolated individual; rather, his government is characterized by an authoritarian style of neoliberalism built on a series of alliances, a prominent one of which is with the judiciary. This coalition boasts connections with the military and police forces, the evangelical religious right, and agribusiness. | more…
In 2021, Angela Merkel’s fourth and last term as the chancellor of Germany will end. To understand Merkel’s domestic and foreign policy, one must understand the country she inherited. She came to power in 2005 following the first center-left government since 1982, the government of Gerhard Schröder, and was in the fortunate position of becoming chancellor after a coalition government of social democrats and Greens had done the devil’s bidding of implementing very unpopular neoliberal policies to the sole benefit of German capital and the rich. | more…
