[AdamB]

Or "Lets Go Brandon" doing some of that, you know, non-traitorous based governing, new legislation, inflation reduction based policy stuff?

The price of gas the week Biden took office was $2.39 a gallon. Go ahead and spin that anyway you want.

No need for spin. Prior statements, such as yours, have certainly used the average price and its rate of change to portray how terrible the post Covid supply chain issues have been. And then assigned that blame to Brandon. All expected from partisans of course. No one in your position can afford to admit that coming out of the greatest recession since the Great Depression dumped on the US by the past administration of patriot-fascists might be a little bumpy.

I am simply doing the same, except with a lower current average price and opposite rate of change and a non-partisan perspective. As I said, no need for spin, you are as predictable as Sun rising and setting in this regard.

[vtsnowedin]

So now I am a "patriot-fascists" for stating a single data point that is a historical fact?
That is quite the spin. You should apply for the White house press secretary job. You would be better at it then the current "affirmative action" chosen person they have there now.

[AdamB]

So now I am a "patriot-fascists" for stating a single data point that is a historical fact?

I didn't say YOU are a patriot-fascist. As best I can tell, including taking into account your insider view to the Republicrat party, there are now factions within it. The Rhinos, the god fearing religious whackos demanding Christianity for everyone, the fiscal and social conservatives, the white nationalist aka nazi sympathizers, the MAGA contingent, the militarily disgraced white folk generally flying the battle flag of the Confederacy, etc etc.

The patriot-fascists seem to cross-cut some of those categories, and in that regard are a majority of the Republicrat party.

That is quite the spin.

See above. Would you like references to articles or pictures demonstrating the existence of these sub-groups? Because I am much happier dealing with empiricals, like in this case, then just spin. Leave that to those who just make stuff up, scientist types find that abhorrent.

You should apply for the White house press secretary job. You would be better at it then the current "affirmative action" chosen person they have there now.

Please, I'm a technocrat at the end of the day. Press secretary is as fru-fru fact free job position as exists in America. Should probably only be available to retirees, in order to not waste productive working citizens on it.

[jato0072]

Youtube interview of Art Berman discussing OPEC Quota Cuts, Energy Prices, Global Economy, WW3

[vtsnowedin]

Many are wringing their hands about the possibility of returning to $100 oil. I think they are missing the reality of it going to $150 by March and $200+ by fall 2023.
Time will tell of course and my personal crystal ball is running a bit cloudy as of late.

[AdamB]

Youtube interview of Art Berman discussing OPEC Quota Cuts, Energy Prices, Global Economy, WW3

Mr "There is no significant oil in US shales" Berman has always been worth a good giggle. After he discredited himself in his chosen profession, it's nice to see he switched to being a wide ranging energy analyst of some sort. You know what they say, once proven ignorant in your professional field, change the subject and do the same thing elsewhere and hope no one notices.

[mousepad]

I think they are missing the reality of it going to $150 by March and $200+ by fall 2023.

Sometime next year the kindergarteners in europe will become sick of brawling. Everybody will claim they won while a peace agreement is brokered. Oil and gas start flowing again. This, together with some mild recession, will give us maybe $60 oil.

Oil practically too cheap to meter.

[Plantagenet]

Sometime next year the kindergarteners in europe will become sick of brawling. Everybody will claim they won while a peace agreement is brokered. Oil and gas start flowing again. This, together with some mild recession, will give us maybe $60 oil.

1. There is no sign of Putin showing any willingness to stop his invasion and withdraw his army from Ukraine. Similarly there is no sign of Putin being willing to make peace. INDEED, far from becoming sick of brawling, Putin further escalated his attacks on Ukraine just two days ago....

2. Gas can't flow into Germany again as it previously did because Putin has sabotaged the Nordstream pipelines.

3. There is no sign of Putin being willing to accept $60 oil. It is much more to his advantage to keep the war going so the price of oil remains elevated.

4. As long as Putin keeps the war going he can't be toppled from power, arrested, and shipped off to the Hague by his fellow Russians to be tried as a war criminal.



Time to face facts----Putin is a war criminal and a fascist dictator who is out to destroy Ukraine, no matter what the consequences to Ukraine, Russia, or the rest of the world.

Cheers!

[mousepad]

1. There is no sign of Putin showing any willingness to stop his invasion

give it some time. An armed conflict runs for about 15 month on average. After that people tend to lose focus, going home wondering what it was all about. Short attention span and all that.

2. Gas can't flow into Germany again as it previously did because Putin has sabotaged the Nordstream pipelines.

Nothing a good welder can't fix.

3. There is no sign of Putin being willing to accept $60 oil.

Same here. I'm producing widgets for sale at $100/pop. Nobody is buying. The buyers are only willing to pay $60/pop. What should I do?

4. As long as Putin keeps the war going he can't be toppled from power

Where are them special ops teams the US is so famous for? One shot, one kill.
Or maybe we can convince our allies in the middle east to send in a dynamite strapped raghead?

[vtsnowedin]

I expect that by February or March another 100,000 Russian troops will be dead or suffering from frost bite. If Putin is still alive and in charge at that point I think he might have to change his tune. Getting sixty to seventy percent of the world price for oil will be a lot better then having zero sales at any price.

[Plantagenet]

SAUDI ARABIA just warned the world is running out of spare capacity for oil production, and oil prices may spike upward again

https://finance.yahoo.com/news/world-worried-saudi-aramco-world-160000039.html]world-worried-saudi-aramco-world-oil

Of course KSA just signaled to Joe Biden that they are so angry with him that they are going to cut their own production by 2 mm bbl/day right before the midterm elections. KSA seems to be out to intentionally cause an upward spike in gas prices right before the US elections.

This seems to be a response to Joe Biden's effort to manipulate global oil prices by pumping oil from the US strategic petroleum reserve to force prices down.

So now we've got an oil price war, with Joe Biden pumping more and more from the strategic petroleum reserve to LOWER oil prices, and the Saudis responding by cutting their oil production to RAISE oil prices.


We've got an oil price war going on with Joe Biden vs. the Saudis.

Cheers!

[jato0072]

I don't know what to expect regarding prices. With Europe about to enter winter and in a proxy war with Russia, there could be a lot of demand destruction caused by economic recession/depression. It is difficult to tell what is going on with all of the main stream news propaganda.

The latest Peak Oil Barrel oil production update and comments are very interesting. The 2018 global peak in oil production is not even close to being surpassed, yet prices are relatively low (if you adjust for inflation).

[AdamB]

The latest Peak Oil Barrel oil production update and comments are very interesting. The 2018 global peak in oil production is not even close to being surpassed, yet prices are relatively low (if you adjust for inflation).

Interesting indeed. Every time Paul sys something, anyone who has been following peak oil just has to start laughing their ass off. "I got peak oil wrong all those other times because I couldn't see the future" is an excuse, and does beg the question as to how that problem has since been solved, if they want to taken seriously with any current "update".

[Plantagenet]

Now its come out that Joe Biden has been begging the Saudis to delay their oil production for one month....until just after the November midterms.

Apparently Joe Biden is OK with the Saudis cutting production and jacking up the price of oil.....Joe just wants it delayed past the election for purely selfish and political reasons.

JEEZ what a sleaze bag Joe Biden is....

Shouldn't he be pursuing a foreign policy that is best for the American people, instead of begging foreign leaders to help him out with his election polls?

In fact, come to think of it, its a federal crime for a politician to solicit election support from foreigners.

AND if the Saudis changed their decision to cut oil production purely to help out Joe, wouldn't that be foreign interference in a US election?


JEEZ ---- now its come out that Joe Biden is a dishonest criminal sleaze bag for soliciting a foreign government to interfere in our election. SHEEESH!!!!

[Peak_Yeast]

Sometime next year the kindergarteners in europe will become sick of brawling. Everybody will claim they won while a peace agreement is brokered. Oil and gas start flowing again. This, together with some mild recession, will give us maybe $60 oil.

1. There is no sign of Putin showing any willingness to stop his invasion and withdraw his army from Ukraine. Similarly there is no sign of Putin being willing to make peace. INDEED, far from becoming sick of brawling, Putin further escalated his attacks on Ukraine just two days ago....

2. Gas can't flow into Germany again as it previously did because Putin has sabotaged the Nordstream pipelines.

3. There is no sign of Putin being willing to accept $60 oil. It is much more to his advantage to keep the war going so the price of oil remains elevated.

4. As long as Putin keeps the war going he can't be toppled from power, arrested, and shipped off to the Hague by his fellow Russians to be tried as a war criminal.

Cheers!

That comment is Almost hilarious in its total failure to reflect reality. But in fact its very sad.

1. There was clear promises not to expand NATO into eastern europe, and especially to keep Ukraine a neutral bufferstate. NATO has not only broken these promises once, but many times. The western regimes instigated a revolt with neonazis and put a pro-western puppet in power instead of the elected president. Which is why the war i Krim started in the first place. All this is easily verifiable for those that read actual history (or who has an actual functioning memory - since it was all televised) and not only MSN propaganda. Putin asked for ONE single item before the war: Promise that Ukraine would remain a neutral bufferstate. NATO denied that - and doubled down. EU also started negotiations for membership and with an EU army being created it was obviously also a geopolitical warlike move. Zelensky a second rate midget comedian is suddenly a billionaire and president in a few year - How the hell do you think that happens on its own without major support?

2. Nordstream 2 has one operative line and the other can quickly be repaired. Putin has offered gas. There has been semi-secret negotiations between Germany and Russia to restart gas transactions. USA is OBVIOUSLY the most likely to have sabotaged the pipelines - The U.S.A. regime has threatened this several times. They have the capability, the incentive(s) - not only one but several real incentives. The arguments that Russia should have done it are all various grades of crazy talk amounting to Porky Pig shooting himself in the foot to impress others of how dangerous he is.

3. Russia actually has an economy based on a surplus of fundamentals and not twitter, addictive processed foods and games. They have been pushed into the arms of China and this relationship and their alternative to SWIFT and the US reserve currency will soon be efficient and advanced enough that they do not need the west for anything, but for hedonistic purposes.

4. Now how many americans has actually been processed at the Haag? Because there are PLENTY of war crimes with origin in the USA. Actually far more than any other nation on earth by far. There is a reason why there are no americans being tried. Its a ridiculous puppet show with rules for all others, but not for USA. Even Chomsky says that every single american president would have been found guilty at the Haag. EVERY SINGLE ONE since its creation.

[Plantagenet]

The western regimes instigated a revolt with neonazis.....

Bzzzt!!!! Utter nonsense alert. The only "neonazis" in the region are the Russian ultranationalists in the cabal who run the dictatorship in Moscow, which is committing numerous warcrimes right now during its illegal invasion of Ukraine.

...why the war i Krim started in the first place.

The war in Crimea started when Putin sent in troops to invade Crimea. Now Putin has done it again and sent Russian troops in to invade Ukraine. Don't you even know that?

Zelensky a second rate midget comedian

Putin a third rate incompetent midget dictator.

Nordstream 2 has one operative line and the other can quickly be repaired. Putin has offered gas.

First Putin blows up both Nordstream pipelines and then he offers gas? It must be another clever plan from Putin!!!

And those pipeline can't be repaired unless the work is done quickly, because the seawater has now filled the inside of both pipelines and is rapidly corroding the metal parts of the pipeline.

There has been semi-secret negotiations between Germany and Russia to restart gas transactions. USA is OBVIOUSLY the most likely to have sabotaged the pipelines - The U.S.A. regime has threatened this several times. They have the capability, the incentive(s) - not only one but several real incentives. The arguments that Russia should have done it are all various grades of crazy talk amounting to Porky Pig shooting himself in the foot to impress others of how dangerous he is.

So you think Putin was thinking like Porky Pig when he blew up his own pipeline? You might be right on that one.

Russia actually has ..... been pushed into the arms of China

Thats nonsense. Germany and other EU countries had been trading and dealing with Russia for decades. Russia was an important part of the EU economic system. But then PUTIN invaded Ukraine and turned to China for support. It was PUTIN (or PORKY PIG as you call him) who has taken Russia out of Europe and made Russia a vassal of China.

And its precisely because PUTIN or PORKY PIG or whatever you want to call him has destroyed Russia's links with the west, that the Russian people should come to their senses and stage their own color revolution and topple Putin from power. Why in heck would any Russian want to be subservient to China? Come to your senses, Russians, and come back to Europe. You will be welcomed into the family of civilized nations after you overthrow the corrupt Putin dictatorship and establish yourself as a democracy, and as a bonus the west will even take care of Putin for you.....just send him to the Hague to be tried for his war crimes.


Its past time for Russians to overthrow PUTIN/PORKY PIG and come home in friendship to their European brothers. Just ask George Orwell about the wisdom of having pigs as your leaders....its really not a good idea.

Cheers!

[AdamB]

Iranian Oil Gushes Onto The Market

Iran’s oil exports are surging, offering solace to both Tehran and a global market fretting over the prospect of sanctions squeezing Russian supply. Much of it appears to be finding its way to China.

[theluckycountry]

Has anyone been watching the price of oil? I check it on a daily basis, it's been going up like a NASA space launch for weeks.

WTI $87
BRENT $90

https://www.oil-price.net/

[theluckycountry]

The great recovery, fueled by lower oil prices? No doubt.

Now these guys were on the money, back in 2015

Down the Slide: The collapse in oil prices since 2014 is the most recent of several in the past three decades and may portend a long period of low prices

Abstract
Finance and Development, December 2015

After four years of relative stability at about $100 a barrel, oil prices began a more than 50 percent slide in June 2014. The dramatic drop in oil prices joins the decline in the price of other commodities in marking what appears to be the end of a boom, or supercycle, that began in the early 2000s. But the oil price decline is not an unprecedented event. Before the current collapse there were three large declines in oil prices



Each of those earlier declines coincided with major changes in oil markets and the global economy. The recent collapse in prices has triggered not only intense debate about its causes and consequences, but has also raised questions about how it compares with those previous episodes.

We analyzed the main features of each episode and found that although each of the collapses had its own narrative, the first and the most recent have eerier similarities, which include a rapid expansion in unconventional supplies and a shift in policy by the Organization of the Petroleum Exporting Countries (OPEC) after a period of high prices. These similarities suggest that oil prices will remain relatively low for some time.

Underlying demand and supply conditions for oil determine long-run price trends as do expectations about future developments. But expectations can also play a role in short-run movements in market sentiment. During the current oil price plunge, revisions of supply and demand expectations were noticeable, but neither exceptional nor unusually large—and by themselves unlikely to cause such a massive price disruption.
Behind the recent collapse

But these changes in expectations coincided with four other major developments: a rapid increase in U.S. oil output, a significant shift in the objectives of OPEC, receding geopolitical risks, and significant dollar appreciation. These factors, coupled with longer-term shifts in supply and demand dynamics, formed a perfect storm that sent prices plummeting:

• Supply and demand: Global oil markets have been affected by a long-term trend of greater-than-anticipated supply, especially from unconventional sources of oil production in the United States and, to a lesser degree, from Canadian oil sands and the production of biofuels (produced from plants such as corn or sugarcane). An increase in oil prices after 2009 and exceptionally favorable financing conditions made extracting oil from tight rock formations (shale sources) in the United States profitable and led to a significant increase in U.S. oil production (see Chart 2). These unconventional oil projects differ from standard drilling operations in that they have relatively low capital costs and a much shorter life cycle—2.5 to 3 years from the start of development to full extraction compared with decades for conventional drilling. At the same time that oil supplies were predicted to rise, oil demand forecasts were downgraded as global growth repeatedly disappointed since 2011 (see Chart 3). While both supply- and demand-related factors played a role in driving down oil prices, empirical estimates indicate that supply (much more than demand) factors have accounted for most of the latest plunge.

Full Article
https://www.elibrary.imf.org/view/journ ... 007-en.xml