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Oil prices will rise above $100 a barrel in 2023, according to a projection in the Eurasia Group's top risks of the year. Oil demand looks poised to grow as China recovers quickly after backing off zero-COVID polices and the US experiences only a shallow recession. Brent and WTI crude prices recently traded below $78 a barrel each. They said those two factors would bolster demand growth for crude oil and expose an acute lack of new supply. China's economic recovery and increased global demand for liquefied natural gas will likely drive US natural gas prices closer to $8 per million British thermal units or more.
Inflation fears fade as geopolitical risks rise
  + stars: | 2023-01-04 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +8 min
New York CNN —Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI wouldn't suggest there's a 'conventional global arms race,' analyst saysIan Bremmer of Eurasia Group says that's "quite far from where we are right now."
Watch CNBC's full interview with Eurasia Group's Ian Bremmer
  + stars: | 2022-12-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Eurasia Group's Ian BremmerIan Bremmer, founder and president of Eurasia Group, joins 'Closing Bell' to discuss China easing covid restrictions, the impact China's policy has on global markets and the economic priorities for President Xi Jinping.
China makes moves toward a cautious reopening
  + stars: | 2022-12-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina makes moves toward a cautious reopeningIan Bremmer, founder and president of Eurasia Group, joins 'Closing Bell' to discuss China easing covid restrictions, the impact China's policy has on global markets and the economic priorities for President Xi Jinping.
Ukrainian President Volodymyr Zelenskyy said Elon Musk should visit his country to understand the war. "If you want to understand what Russia has done here, come to Ukraine and you will see this with your own eyes," he said. Speaking on Wednesday, Zelenskyy said he did not know why the billionaire had shifted from steadfast to erratic support for Ukraine. The Ukrainian president added that he would invite Musk and others to see the war firsthand before opining on how to end it. And after that, you will tell us how to end this war, who started it, and when we can end it," Zelenskky said.
Two international politics experts told Insider that while reversing some zero COVID policies could ease protestors, it won't be enough to send them home for good. But the government has shown no signs of easing any other zero COVID rules. Protesters around the country held up blank, white pieces of paper above their heads to protest against the zero COVID policies. But he doesn't predict a "broader relaxation of the zero covid policy." Xi voiced those concerns during a visit to Wuhan Tuesday in response to the zero COVID policies, state news agency Xinhua reported.
Shift in power ... and Ukraine support? Russia could well hope that a shift in power after the the midterm elections could herald a cooler attitude toward Ukraine. "Further, most Republicans remain staunchly committed to Ukraine support, despite House minority leader Kevin McCarthy's announcement of 'no blank check' for the Ukrainians under a Republican-led House. Russia's President Vladimir Putin listens while then-U.S. President Donald Trump speaks during a press conference in Helsinki, Finland, in 2019. "The war in Ukraine must provide the U.S. with the best chance for regime change in Russia, of taking Putin out.
WASHINGTON, Nov 9 (Reuters) - U.S. President Joe Biden said on Wednesday he thinks Twitter boss Elon Musk's relationships with other countries is worthy of being looked at. "I think that Elon Musk's cooperation and/or technical relationships with other countries is worthy of being looked at," Biden said. Musk's purchase of Twitter sparked concerns that he could face pressure from countries trying to control online speech. [1/3] SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. Musk previously suggested that tensions between China and Taiwan could be resolved by handing over some control of Taiwan to Beijing.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrazil's Bolsonaro refuses to concede presidential race in spite of lossPresident of the Eurasia Group Ian Bremmer joins Shep Smith to discuss the election in Brazil, and President Jair Bolsonaro's speech today in which he thanked his supporters but refused to concede the race to Luiz Ignacio Lula da Silva.
Elon Musk discussed his Ukraine peace plan at a secretive meeting of billionaires, The NYT reported. Musk was criticized because the plan repeated Russian arguments about how the war should end. According to the report, Musk, the founder of Tesla and the world's richest man, made the comments at an elite event in Aspen, Colorado, in September called The Weekend. Ten days later, Musk tweeted the plan, which appeared new at the time. Musk has provided, and partly funded, the Starlink satellite system to Ukraine, allowing its military to stay connected in a warzone.
Elon Musk's influence in global affairs has some officials worried, The Washington Post reported. Musk has kept in touch with foreign officials while staying away from Washington, per the Post. Musk has publicly met with Russian President Vladimir Putin, Brazilian President Jair Bolsonaro, and other foreign leaders, raising conflict of interest questions. Government officials have bolstered Musk's competitors in an effort to reduce their reliance on his businesses, the Post report said. The Post report notes, however, that there is still a large interest from the US government to work with Musk.
Elon Musk praised a Putin ally for trolling the UK's prime minister over her resignation. On Thursday, Dmitry Medvedev trolled UK Prime Minister Liz Truss for resigning after only 44 days in office, and alluded to a running joke in UK tabloid The Daily Star about whether she'd last longer than a lettuce. Musk was criticised for the jokey interaction with Medvedev, who has previously served as prime minister and president of Russia, and now leads its security council. Musk, the world's richest man, has recently made a series of outspoken pronouncements on the Ukraine war and tensions between Taiwan and China. Fiona Hill, a former White House Russia expert, said Putin was likely manipulating Musk.
Elon Musk's foray into the Russia-Ukraine war is being guided by Putin, according to Fiona Hill. The Russia expert told Politico that Putin frequently uses prominent people as intermediaries. "Putin plays the egos of big men, gives them a sense that they can play a role," Hill said. But in reality, they're just direct transmitters of messages from Vladimir Putin," Hill told Politico this week, noting that the Tesla billionaire has tipped his hand in an obvious display of Putin's influence. Musk's sudden emergence as an apparent player in foreign affairs may seem curious, but it's actually a "classic Putin play," Hill said.
Growing fear of nuclear war has prompted calls for an immediate settlement to end the war in Ukraine. But abandoning support for Ukraine now could spur Russia and others to make more nuclear threats. "Just giving in at this point would actually be dangerous," nuclear expert Pavel Podvig told Insider. In discussions with Insider, Podvig said that Russia could decide to use nuclear weapons if its hold over Crimea were threatened. Instead of capitulation, dressed up in a universal desire for peace, he argued, "You could in effect show – demonstrate in practice — that nuclear weapons are not a useful instrument of terror and compellence."
Both Elon Musk and the Kremlin have denied reports that the tech CEO recently spoke to Vladimir Putin. Musk said that Putin told him he was "prepared to negotiate" with Ukraine, according to analyst Ian Bremmer. On October 3, Musk tweeted his proposals for a peace plan to end Russia's invasion of Ukraine. "I have spoken to Putin only once and that was about 18 months ago," Musk tweeted. RIA, a Russian state-owned news agency, said on Tuesday that a Kremlin spokesperson had denied that Musk and the Russian president had spoken before Musk released his peace plan.
CNN —Tesla CEO Elon Musk has denied a claim that he spoke directly to Russian President Vladimir Putin in recent weeks about the war in Ukraine and a proposed “peace plan” to end the conflict. Speaking to CNN on Tuesday, American political scientist Ian Bremmer, president of political consulting firm Eurasia Group, claimed Musk told him directly about his conversation with Putin last month. “Elon Musk told me he had spoken with Putin and the Kremlin directly about Ukraine. “My recommendation…would be to figure out a special administrative zone for Taiwan that is reasonably palatable, probably won’t make everyone happy,” Musk told the Financial Times in an interview published last week. “Musk also appeared concerned about more direct threats from Putin,” Bremmer wrote.
Elon Musk denied a Ukrainian request to enable the use of Starlink in Russian-occupied Crimea. Musk told political analyst Ian Bremmer he fears a Ukrainian offensive could start a nuclear war. The SpaceX CEO denied that he recently spoke with Russian President Vladimir Putin, as Bremmer claims. Following Russia's February invasion of Ukraine, Musk — and the US government — provided Kyiv with thousands of Starlink systems, enabling Ukrainian forces to communicate in what were previously dead zones. Per Bremmer, Musk "refused given the potential for escalation."
Before tweeting a peace plan to end the war in Ukraine that parroted Russian demands, Elon Musk reportedly met privately with Russian President Vladimir Putin. In an email to Eurasia Group subscribers, Ian Bremmer said that he spoke with Musk two weeks ago — who had previously met with Putin. According to Bremmer, Putin told Musk that these were goals he'd accomplish "no matter what," or else he would turn to "major escalation." Last week, Musk shared a public poll pitching a plan to stop the war; Musk's proposal matched the demands Putin reportedly said he was seeking. Elon Musk did not immediately respond to Insider's request for comment to confirm he met with Putin.
Investor Sven Henrich asked Musk (via his Twitter account "@northmantrader") if the report was true. As CNBC previously reported, Musk posted a series of tweets earlier this month seeking support for what he thought would be the best outcome for Russia's war on Ukraine. Musk proposed UN-supervised votes in Ukraine about whether certain regions of the nation under siege should join Russia. Publicly opining on war could prove risky for Musk and SpaceX, cautions J2 Ventures founder and Managing Partner Alex Harstrick. Musk has also recently sounded off, in an interview with Financial Times, about his vision for resolving China's conflict with Taiwan.
Now, though, his latest fight with Twitter shows the perils of always leading with bravado: While scandal is unlikely to sink the CEO, he's making extra work for himself — more than he usually does. Musk's negotiations to buy Twitter were subsequently halted when he pushed for concessions the platform was unwilling to give. Duncan Levin, a criminal defense attorney who represents controversial clients, such as Harvey Weinstein, Clare Bronfman, and Anna Delvey, told Insider: "No one is scandal-proof. Musk's ability to bounce back from repercussions is the result of a complex interplay of a fierce, cultlike fandom and his transformational leadership style, experts told Insider. What's more, he's highly intelligent and ahead of most people, a former manager at Tesla previously told Insider.
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