• 4 minutes What If Canada Had Wind and Not Oilsands?
  • 8 minutes EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 17 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 4 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 2 hours Could oil demand collapse rapidly? Yup, sure could.
  • 4 hours U.S. Withdraws From U.N. Human Rights Council
  • 13 hours Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 13 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 9 hours "The Gasoline Car Is a Car With a Future"
  • 7 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 5 hours Saudi Arabia turns to solar
  • 26 mins Gazprom Exports to EU Hit Record
  • 17 hours North Korea, China Discuss 'True Peace', Denuclearization
  • 3 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 6 hours What If Canada Had Wind and Not Oilsands?
  • 9 hours EVs Could Help Coal Demand
  • 17 hours WE Solutions plans to print cars
  • 23 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 1 day Lloyd's of London excludes coal
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Make No Mistake About It: The Storm Has Hit in Turkey

Last week we took you through an emerging crisis in Turkey that will set the investment terrain for 2014. This week, we feel the subject warrants another installment as Prime Minister Erdogan, the Justice and Development Party (AKP) and the business elite attached to them become targets of a very focused corruption scandal that Erdogan may not survive—and that should shake investor confidence to its core.

A series of raids and 60 arrests have Erdogan thinking that he is the real target of the corruption probe—and he is not mistaken. This is what happens when you take on the Gulenists as we noted last week.

The corruption probe is targeting Erdogan’s allies first—those AKP fellows in key ministries, and key dynasties with whom Erdogan and the AKP are close to.

A day after the raids and arrests Erdogan reshuffled his Cabinet, replacing 10 ministers.

Erdogan’s reshuffle has only fueled the fires—similar to those that burned all last summer in the form of the Gezi Park protests—with the opposition accusing him of trying to create a secret “deep state” of authoritarian rule. Indeed, Erdogan is hoping that the new Cabinet will be solidly loyal during the ensuing probe.

The Scandal

The scandal is the culmination of a two-year investigation into bribery, corruption and gold-smuggling—and the timing is highly significant.

The Iran angle is getting the most international attention because…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News