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Petro Questions and (Some) Answers

Petro Questions and (Some) Answers thumbnail

These are unusual times in oil and gasoline markets, but not really mysterious.

Everyone has a role to play in the pandemic. My primary role – as my younger friends remind me – is to stay the hell home, and out of the hospital. Check. But the questions in my inbox lately suggest another role: attempting to explain petroleum markets, from Oklahoma crude to the California pump prices. So, cribbing from those emails, here goes…

Negative Oil Prices?!? How did that happen and what does it mean?

If you follow energy, you couldn’t have missed the excitement on April 20, when “the price of oil went negative.” There was a lot of huffing and puffing around this, most of it unwarranted.

PetroQuestionsFig1First, the price of oil that went negative was for May 2020 delivery to Cushing, Oklahoma, known as the West Texas Intermediate (WTI) futures contract. Ten years ago, this would’ve been a somewhat bigger deal, because the WTI contract was the world’s benchmark oil price. It isn’t anymore, and hasn’t been since 2011. That was when pipeline capacity for carrying oil from the center of the continent–West Texas, Oklahoma, North Dakota, Alberta, etc–to the Gulf Coast became so overwhelmed that mid-continent oil suppliers couldn’t move all their supply. The WTI price dropped well below other world prices, and WTI became just a regional price index. While the May WTI contract went negative on April 20, the new benchmark world oil price, Europe’s Brent crude, stayed above $25 per barrel.

Second, the only contract that went negative was for delivery in May. The price for WTI delivery in June remained well above zero though still distressingly low if you were a producer, dropping near $20 per barrel.

What happened was that demand everywhere had collapsed due to the pandemic, but oil wells can’t turn off quickly. With crude oil being stored wherever there was a facility that could take it, the oil-rich middle of the country didn’t have enough space for the huge amount of extra supply there. And they couldn’t ship it elsewhere, because pipelines were at capacity. Some buyers were obligated to take oil, but had nowhere to put it, so this valuable commodity looked like it could turn into a liability. A small number of buyers panicked and started paying others to take that responsibility off their hands. By the next day, the panic subsided and the price turned positive, though still low.

PetroQuestionsFig4It was a strange event, but it represented very few barrels of oil. Furthermore, research Ryan Kellogg and I published in 2014 suggests that the beneficiaries of even that cheap oil in the middle-US will be refiners, not consumers. Mid-continent gasoline prices don’t follow mid-continent oil prices, because gas can still move around the country (different pipelines) so the gas price still reflects world oil prices. That is, it’s Brent, not WTI, that matters to even U.S. drivers. 

Are today’s low oil prices mostly due to cratering demand or to a price war among cartel producers?

OPEC Schmopec. Saudi Arabia had barely started to make good on the output increase it promised in March when it reversed course and began decreasing. This week, the Saudis announced they would decrease production to well below pre-COVID levels. Even the increase they threatened in March was less than 3 million barrels per day (bpd) in a market that started at around 100 million bpd. In contrast, it looks like world demand bottomed out in mid-April down around 30 million bpd. And it’s likely to be down 20 million bpd for the entire second quarter of 2020. Not even in its fondest market manipulation dreams can Saudi Arabia overcome being ghosted by that many buyers.

Where are oil prices headed?

Most economists start by looking at the crude oil futures market. Oil prices recovered somewhat last week, as many lockdowns were eased, with the July contract for Brent closing around $33 per barrel on Friday. Meanwhile the contract for July 2022 closed at $41, so the best guess from traders is that the price will gradually drift upward. Still, those forecasts are never very reliable, and especially right now. The single biggest factor that will determine the course of oil prices, and the economy generally, is the science of treating and preventing COVID-19. If you can predict when an effective drug or vaccine will be widely available, you can make a lot of money in nearly any asset market these days. 

Why haven’t pump prices fallen as much as crude oil?

They have. The standard relationship is that every $1 per barrel drop in the crude oil price translates to 2.5 cents at the pump. Comparing to six months or a year ago, that is what has happened. A $40 per barrel crude drop since May 2019 has resulted in about a one dollar per gallon gas price decline. There is gradual adjustment in retail prices, particularly on the downside, so the change wasn’t as dramatic as oil.

In the wholesale market, the commodity price (for huge bulk purchases) of gasoline actually dropped more than the cost of crude oil for a while, because refineries were unable to ratchet down their gasoline production as fast as demand was disappearing. In fact, for a few days in April, commodity gasoline was selling for less than the crude oil that went into making it. Being an oil producer these days is pretty awful, but being a refiner isn’t much fun either. Refineries have now reduced their throughput and refinery margins on gasoline have improved. 

PetroQuestionsFig3What has happened to California’s Mystery Gasoline Surcharge (MGS)? And what about the California Attorney General’s announcement on May 8 that they are prosecuting some traders?

The MGS is alive and well, I’m sorry to say. But it has declined a little bit in recent weeks. As of this morning, California’s average pump price is $1.01 above the rest of the country. About $0.71 of that can be directly tied to higher taxes, environmental fees, and our cleaner burning gasoline. The MGS is the difference, about 30 cents. At normal consumption levels that would mean Californians would pay an unexplained extra $4 billion per year. It will be a bit less this year, but is still on track to be north of $3 billion.

The AG’s announcement was interesting, but it isn’t likely to explain much of the MGS. The case they announced was for behavior in 2015 and 2016, and it was for activities that raise the commodity price. As I have discussed in a previous blog, that’s not where most of the MGS has come from in the last few years. The AG said that the investigation continues, which I was pleased to hear. 

Why is the federal government bailing out oil U.S. producers? If the point is to help workers in the industry, why don’t they just help the workers directly? Especially in an industry where a small share of revenues go to labor and most of the benefit of the bailout will go to shareholders?

Why indeed.



63 Comments on "Petro Questions and (Some) Answers"

  1. joseph gordon on Mon, 18th May 2020 10:24 pm 

    Very Informative article. Thank You Sir for the time and effort to publish. I’ve been parlaying on UGA(C what U think). WTI is accelerating out of hand on the price–32.50 today! WTI and brent must or should slow down considerably on this price march–huh?? Wholesale gasoline to 1.05 today.

  2. Abraham van Helsing on Tue, 19th May 2020 1:54 am 

    Who needs petro? Here a Korean excavator, batteries included:

    https://www.wattisduurzaam.nl/26437/energie-beleid/duurzaam-ondernemen/elektrische-bouwmachines-24-7-inzetbaar-met-verwisselbare-accus/

  3. Abraham van Helsing on Tue, 19th May 2020 2:03 am 

    Reducing the need for storage, like batteries or hydrogen. DEMAND MANAGEMENT!

    Aluminium production takes an awful lot of energy (electricity). On the other hands it is a bulk product your can store at near zero cost. In other words, it doesn’t matter WHEN you produce aluminium. So how about producing aluminium if your have an excess amount or renewable electricity available? That is what the German aluminium giant Trimet implemented:

    https://www.wattisduurzaam.nl/12367/energie-besparen/smart-grids/duitse-aluminiumfabriek-duurzamer-dan-accus-en-waterstof/

    They created a production process with which in 48 hours they can take 25% variability in electricity supply, without negative consequences for the process itself. As such they created a “virtual battery” of 2000 MWh, at a price 30 times lower than installing the equivalent of Tesla Powerwalls.

    https://www.youtube.com/watch?v=73ZhulGYshM&feature=emb_logo

    https://www.trimet.eu/en/presse/pressemitteilungen/2019/2019-05-16-energy-revolution-trimet-starts-trial-operation-of-its-virtual-battery-

  4. Davy on Tue, 19th May 2020 5:26 am 

    “On the other hands it is a bulk product your can store at near zero cost. In other words, it doesn’t matter WHEN you produce aluminium.”

    Wrong cloggo, inventory management does matter with business but that can be adapted by production if it can be made cheaper depending on delivery needs. Important deliveries need as to be considered too where a delay may cause increased costs. It is a matter of managing cost benefits. It is a matter of cost benefit in the macro and the micro for an EROI of the situation. Storing a finished product is not free. It may be the case waiting for the cheaper production costs is more expensive or not but it is not a given.

  5. makati1 on Tue, 19th May 2020 6:09 am 

    I hate the Philippines, I hate myself but I love Davy. I think he’s awesome and he’s always right.

  6. makati1 on Tue, 19th May 2020 6:11 am 

    Davy’s right, the Philippines is a real shithole.

  7. Mindless JuanP shit on Tue, 19th May 2020 6:11 am 

    JuanP on Tue, 19th May 2020 6:09 am

    “I hate the Philippines, I hate myself but I love Davy. I think he’s awesome and he’s always right.”

  8. makati1 on Tue, 19th May 2020 6:14 am 

    JuanP on Tue, 19th May 2020 6:09 am

    If I had a dollar every time Davy was right, i’d be living in a shithole like the Philippines.

  9. Davy on Tue, 19th May 2020 6:26 am 

    old bat, you can’t figure out much these days. Your comments are redundant and stale. All you have left is to bitch and whine. JuanP does not go to the moderated side much anymore becuase he can’t do ID theft and his mindless socks. His IQ is low and his debate skills lower still. Annoymouse is a stalker and low IQ commenter. You guys huddle together in sick friendships and expected to be taken seriously. LOL. If I am here anymore it is generally to debate the cloggo. Your comments generally are not worth my time. If I decide to fuck with you, old bat, it is because you deserve it. I sometimes chose to screw with juanPee but not always. He is a sick fuck so getting caught up in his mindless activity is wasted time. You are oblivious to the fact if the day starts out and the lunatic juanP does not ID theft me I usually don’t bother with his half a dozen sock bullshit comments. It is so funny watching you talk to them as if they are real, old bat.

  10. Mindless JuanP shit on Tue, 19th May 2020 6:27 am 

    JuanP on Tue, 19th May 2020 6:09 am

    If I had a dollar every time Davy was right, i’d be living in a shithole like the Philippines.

  11. makati1 on Tue, 19th May 2020 6:40 am 

    I slept with Davy because I think he’s awesome. He left me and now i’m stuck in the Philippines. Will somebody please help me leave this shithole?

    I’m taking donations because there are no jobs in the Philippines and my social security check from Amerika doesn’t pay me enough.

  12. Mindless makati1 shit on Tue, 19th May 2020 6:49 am 

    I love smelling Davy’s socks. They remind me of the the shithole Philippine slums I live in.

  13. Abraham van Helsing on Tue, 19th May 2020 6:50 am 

    Wrong cloggo, inventory management does matter with business but that can be adapted by production if it can be made cheaper depending on delivery needs. Important deliveries need as to be considered too where a delay may cause increased costs. It is a matter of managing cost benefits. It is a matter of cost benefit in the macro and the micro for an EROI of the situation. Storing a finished product is not free. It may be the case waiting for the cheaper production costs is more expensive or not but it is not a given.

    Yet another intellectually sounding word salad, designed to impress and obfuscate, but devoid of any meaning.

    We are not talking about finished products here, but stupid blocks of pure aluminium.

    Price aluminium: 1500$/ton
    Density: 2.7 kg/dm3
    Value 1 m3: $4000
    Value cube aluminium 10 m x 10 m x 10 m = 4 million
    You can store that “aluminium mountain” under a plastic sheet for a long time at a fraction of the cost in an old warehouse or terrain, like this:

    https://tinyurl.com/y82f3zlt

    The point I wanted to make remains valid: you can save a lot of money on expensive electricity storage by applying demand management. This not only applies to aluminium, but to every electrolysis process, including hydrogen. Or pumped hydro-storage. Or charging your car. Or switching on your washing machine through the internet-of-things. Or cool your freezer 5C extras because cheap electricity is available. Or storage of seasonal heat. Have excess electricity? Fine! Switch on your heat pump and heat the seasonal storage.

    There is enormous potential in demand management, reducing the need for expensive storage.

  14. Davy on Tue, 19th May 2020 6:51 am 

    I love the taste of makatos splooge.

  15. REAL Green on Tue, 19th May 2020 6:58 am 

    “Yet another intellectually sounding word salad, designed to impress and obfuscate, but devoid of any meaning.”

    So true cloggo. So true.

  16. Davy on Tue, 19th May 2020 7:00 am 

    “We are not talking about finished products here, but stupid blocks of pure aluminium.”

    So you are saying there is no value to them? LMFAO. You are lost in your binary fantasy world of agenda peddling. You are so much fun and easy to debate. At least you are not mindless like juanPee.

  17. Widdle JuanP is triggered on Tue, 19th May 2020 7:01 am 

    JuanP on Tue, 19th May 2020 6:51 am

    I love the taste of makatos splooge.

    JuanP on Tue, 19th May 2020 6:58 am

    “Yet another intellectually sounding word salad, designed to impress and obfuscate, but devoid of any meaning.”

    So true cloggo. So true.

  18. Abraham van Helsing on Tue, 19th May 2020 7:14 am 

    “We are not talking about finished products here, but stupid blocks of pure aluminium.”

    So you are saying there is no value to them? LMFAO. You are lost in your binary fantasy world of agenda peddling. You are so much fun and easy to debate.

    Where do I say there is no value in aluminium blocks?! All I said was that the cost of storing raw aluminium is negligible, something you disputed but is now debunked.

    Prove that the storage cost of a cube of 1000 m3 aluminium, worth 4 million production cost, is more than a minuscule fraction of the aluminium worth.

    You can’t.

    All you ever do is congratulate yourself with how you “debunked” me, without ever doing so.

  19. REAL Green on Tue, 19th May 2020 7:17 am 

    Widdle JuanP is triggered Is widdle us.

  20. Davy on Tue, 19th May 2020 7:22 am 

    Prove that the storage cost of a cube of 1000 m3 aluminium, worth 4 million production cost, is more than a minuscule fraction of the aluminium worth.

    cloggo, you have to take the production cost difference not the total cost then you have to consider where the end product is going in the supply chain. You also have to consider the electricity variability costs. That is not given and location dependent. You are such a simple mind devoted to your agenda peddling.

  21. The mindless lunatic on Tue, 19th May 2020 7:24 am 

    JuanP on Tue, 19th May 2020 7:17 am

    Widdle JuanP is triggered Is widdle us.

  22. Abraham van Helsing on Tue, 19th May 2020 7:40 am 

    you have to take the production cost difference not the total cost then you have to consider where the end product is going in the supply chain. You also have to consider the electricity variability costs. That is not given and location dependent.

    What’s a “production cost difference”?

    A difference is between two things. So what difference are you rambling about?

    Next use punctuation, like putting a dot after the 2nd “cost”. But then again, using clear language is not in your interest. Your real interest is writing deliberately incomprehensible posts, add a personal put-down, a “LMFAO” and declare yourself “the winner of the debate”, all the while forgetting that in real life, references by yourself or mum don’t count.

    Furthermore, for the storage cost of raw blocks of aluminium it is completely irrelevant where the block will go to in “the supply chain”.

    You also have to consider the electricity variability costs.

    Apparently you missed that the whole point of my post WAS considering variability cost of electricity. The point was that you can tinker your aluminium process such that you can wait a few hours and wait for cheaper electricity, as for every 370 cm3 aluminium you need no less than 17 kWh to get it produced from oxide.

  23. REAL Green on Tue, 19th May 2020 7:41 am 

    “All you ever do is congratulate yourself with how you “debunked” me, without ever doing so.”

    So true cloggo. So true.

  24. Abraham van Helsing on Tue, 19th May 2020 10:18 am 

    Corona and now for the good news:

    Global CO2-emissions down with 17%. Germany even 26%:

    https://www.spiegel.de/wissenschaft/mensch/corona-und-klimawandel-staerkster-co2-rueckgang-seit-60-jahren-a-0981c634-22a3-49f1-ae8e-f4fbbf39a1ed

    Largest contributor transport sector.

  25. Duncan Idaho on Tue, 19th May 2020 12:01 pm 

    La Ciclovía de Bogotá
    (one of m favorite cities)
    https://www.atlasobscura.com/places/la-ciclovia-de-bogota

  26. Davy on Tue, 19th May 2020 12:12 pm 

    “On the other hands it is a bulk product your can store at near zero cost.”

    I called you out on this cloggo. Got it?? If you have 100MIL in aluminum inventory don’t tell me you have zero storage cost. You are a brain dead number goal seeker.

  27. Mindless JuanP on Tue, 19th May 2020 12:12 pm 

    JuanP on Tue, 19th May 2020 7:41 am

    “All you ever do is congratulate yourself with how you “debunked” me, without ever doing so.”

    So true cloggo. So true.

  28. Anonymouse on Tue, 19th May 2020 12:15 pm 

    Its all good, ‘debating’ an autistic and technically ignorant jew troll on the internet is about the only thing the exceptionalturd can hope to ever ‘win’ at.

    Isnt that right Mindless DavySock?

  29. Davy on Tue, 19th May 2020 12:22 pm 

    Annoy, I remember when your idol, Ape Man, chastised you for your jew obsession. It was hilarious to see you whine like a widdle boy. I am going to find that thread one of these days when I have time. LMFAO.

  30. Davy on Tue, 19th May 2020 12:29 pm 

    OOPS:

    “Phone Calls Between Biden And Ukraine’s Poroshenko Leaked; Details $1 Billion “Quid Pro Quo” To Fire Burisma Prosecutor”
    https://www.zerohedge.com/geopolitical/phone-calls-between-quid-pro-joe-biden-and-ukraines-poroshenko-leak-explicitly-details

    Leaked phone calls between Joe Biden and former Ukrainian President Petro Poroshenko explicitly detail the quid-pro-quo arrangement to fire former Ukrainian Prosecutor General Victor Shokin – who Poroshenko admits did nothing wrong – in exchange for $1 billion in US loan guarantees (which Biden openly bragged about in January, 2018).

  31. Abraham van Helsing on Tue, 19th May 2020 12:51 pm 

    And then there is the sexual predatory behavior. OMG, what a world we live in if we can’t even trust Joe Biden. What is a law-abiding citizen to do, I’m asking you?

    Well, open a bottle of wine, of course.LOL

    #FourMoreYears

  32. SocialRevolutionComing on Tue, 19th May 2020 12:53 pm 

    The people pushing the COVID hoax agenda are working for the World Economical Forum. The are basically globalists. These people are mentally sick, sociopaths and have GOD like complex.

    Chryutian Freeland vice-premier of Canada is also a member of Board of Trustees for the World Economical Forum that is controlled by globalist like Bill Gates, Soros, Rockefeeler. Look at the link below:

    https://www.weforum.org/people/chrystia-freeland

    Now that the propagande of fear has failed. They will to manipulate Women using their children. They starting to say in fake news that Corona could kill young kids. Some shit like that. I cannot find the web page link anymore.

    Now they want to kill young kids souls, once their souls are death, they will be easy to manipulate. This is why they want young kids back to school. All the rules put in place in school are there to kill human contact therefore kill young kids souls.

    We are gonna have to kill these globalists before they kill every human souls.

  33. Anonymouse on Tue, 19th May 2020 1:04 pm 

    If you are looking for ‘globalists’, ‘social’ we have two wannabee globaltards right here in thread. I mean, its not like ever leave or anything….
    We are talking about the Cloggedsphincter, and the Exceptionaltard of course.

    Both of them, are poor, marginalized and have frequently expressed thoughts of suicide and or voiced support for de-population efforts. Which is fine. And if we are talking about getting rid of useless parasites, ie globalists, loudmouth do-nothing shit-for-brains and their ilk, I honestly cannot think of two wannebee globalists that really need to be the first to go to the chopping block.

    Right ‘social’….

  34. Davy on Tue, 19th May 2020 1:38 pm 

    Annoy, do you remember about that time your idol blistered your incompetence? If you forgot I will make an effort to find it. I have dug up a lot of dirt on your friend, stupid the lunatic. Nothing more fun than a prick like you or juanPee caught with his pants down.

  35. Abraham van Helsing on Tue, 19th May 2020 3:19 pm 

    “On the other hands it is a bulk product your can store at near zero cost.”
    I called you out on this cloggo. Got it?? If you have 100MIL in aluminum inventory don’t tell me you have zero storage cost. You are a brain dead number goal seeker.

    Dislextic? It’s in front of your nose. I didn’t say “zero”, but “near-zero”, meaning that the cost of dumping aluminium worth 4 million is neglegible as fompared to the 4 million.

    Now what do you think is the marginal cost for an aluminium company to dump 1000 m3 on its premesis like this:

    https://tinyurl.com/y82f3zlt

    I’ll give you a clue: it is the rent of the entire shabby industrial terrain times the tiny 100m2 divided by the area of the entire terrain. Here an example of expensive Holland: 17.50 euro/m2 or 1750 euro per year for our 1000 m3 pile of aluminium.

    https://ooms.com/uploads/files/18/businessproperties/B105251/65119483.pdf

    Obviously, our freshly produced aluminium won’t lay around for a full year, but a few days, perhaps a month. For a month the rent would be 155 euro, absolutely irrelevant as compared to the value of the stored aluminium (4 million).

    QED

  36. Davy on Tue, 19th May 2020 3:41 pm 

    Cloggo, an inventory of a finished or partially finished product has a value and that embedded value has a cost to hold. It is a simple idea that a illiterate like you can’t figure out. You never ran a business or owned one. I bet you are even so financially illiterate you wife pays the bills. Now run along and dream about hydrogen powered scooters.

  37. Abraham van Helsing on Tue, 19th May 2020 4:52 pm 

    “an inventory of a finished or partially finished product has a value and that embedded value has a cost to hold.“

    Where do I deny that in general?

    But we were talking about aluminium.
    I showed you that in the case of aluminium it cost 155 euro to store 4 million worth of aluminium for one month. “Too cheap to meter”. So we can safely apply renewable electricity demand management and wait a couple of days to wait for the availability of cheap renewabble electricity, as the storage cost of aluminium is irrelevant anyway.

    Now simply admit you have been cornered.

    Just say: ”you were right, uncle Clog, I was wrong”
    It’s not difficult. You will feel better afterwards.

  38. Davy on Tue, 19th May 2020 5:56 pm 

    “Now simply admit you have been cornered”

    cloggo, you are degenerating into make believe. My comment stands that inventories have value and cost to hold. Not “On the other hands it is a bulk product your can store at near zero cost.”

  39. Davy on Tue, 19th May 2020 6:01 pm 

    Oops, those dirty dem:

    “This Was Some Shady Stuff”: Treasury Department Spied On Flynn, Manafort And Trump Family”
    https://www.zerohedge.com/political/was-some-shady-stuff-treasury-department-spied-flynn-manafort-and-trump-family

    “The US Treasury Department was regularly spying on Lt. Gen. Michael T. Flynn, Paul Manafort Jr., senior staffers on the 2016 Trump campaign, members of the Trump family, and congressional lawmakers, according to The Tennessee Star’s Neil W. McCabe. “I started seeing things that were not correct, so I did my own little investigation, because I wanted to make sure what I was seeing was correct,” a former senior Treasury Department official and veteran of the intelligence community told McCabe. “You never want to draw attention to something if there is not anything there,” she added…In March 2017, the whistleblower filed a complaint with Acting Treasury Inspector General Richard K. Delmar, who never followed up on the matter despite acknowledging receipt of the compaint. Prior to that, she filed an August 2016 notification which was rejected as it didn’t meet the requirements of a formal complaint. In May 2017, she filed another complaint with the Office of Special Counsel.”

  40. Davy on Tue, 19th May 2020 6:07 pm 

    “Declassified Rice Email Confirms Obama, Biden And Comey Targeted Flynn”

    https://www.zerohedge.com/political/declassified-rice-email-confirms-obama-biden-and-comey-targeted-flynn

    “A newly declassified version of an email that former National Security Adviser Susan Rice sent to herself confirms that President Obama, VP Joe Biden and former FBI Director James Comey were actively targeting Michael Flynn over his discussions with former Russian Ambassador Sergey Kislyak. According to The Federalist, “In the email, portions of which were not declassified until recently, Rice recorded that Flynn, who at the time was the incoming national security adviser for Trump, was personally discussed and targeted during the meeting with Obama.” “Comey said he does have some concerns that incoming NSA Flynn is speaking frequently with Russian Ambassador Kislyak,” Rice wrote too herself in a now-declassified portion of the letter, adding “Comey said that could be an issue as it relates to sharing sensitive information.” “President Obama asked if Comey was saying the NSC should not pass sensitive information related to Russia to Flynn,” the email continues. “Comey replied ‘potentially.'” “[Comey] added that he has no indication thus far that Flynn has passed classified information to Kislyak, but he noted that ‘the level of communication is unusual,'” Rice wrote – which The Federalist points out does not explain how it would be “unusual” for an incoming national security adviser to hold discussions with foreign leaders prior to the inauguration.”

  41. Davy on Tue, 19th May 2020 6:13 pm 

    “In Flynn Case, Judge Sullivan’s Gross Overreach Turns Justice Into Mob-Rule”
    https://www.usatoday.com/story/opinion/2020/05/18/michael-flynn-jonathan-turley-judge-sullivan-fbi-column/5212869002/

    “The case of former national security adviser Michael Flynn is rapidly moving from the dubious to the preposterous. U.S. District Judge Emmet Sullivan is being widely applauded for resisting the dismissal of a case that the Department of Justice insists cannot be ethically maintained. Faced with no dispute between the parties, Sullivan decided to create a contested case by inviting in third parties to create a conflict and now is suggesting that he may substitute his own criminal charge rather than let Flynn walk free. In the past, I have publicly praised Sullivan. However, this is fast becoming a case of gross judicial overreach as the court appears to assume both judicial and executive powers. Sullivan can disagree with the exercise of prosecutorial discretion, but he cannot substitute his own judgment for it. “At the appropriate time, the court will enter a scheduling order governing the submission of any amicus curiae briefs,” Sullivan wrote. Never has a more innocuous line left a more ominous meaning. After that order, the judge proceeded to appoint retired Judge John Gleeson to argue against dismissal in the absence of a dispute between the parties. He is effectively outsourcing the argument to introduce a dispute. This move is nothing to celebrate.”

  42. Davy on Tue, 19th May 2020 7:39 pm 

    “Toto, We Ain’t In ‘Flatten The Curve’-Land Anymore”

    https://www.zerohedge.com/political/toto-we-aint-flatten-curve-land-anymore

    “The COVID-19® deception was brilliant in that it accomplished multiple evil objectives all at once. The Coronavirus® pinprick collapsed the Economic Everything Bubble and deflected blame away from the bankers who blew it up. At the same time, it turned martial law into self-quarantine and abolished the First Amendment rights of American citizens including the free exercise religion, the freedom of speech, and the right peaceably assemble… all under the arbitrary mandates of Social Distancing®. Additionally, cash has been transitioned into a viral threat – thus paving the way to a new digital world order; and the end of privacy.”

    “Wake up, America. Before it’s too late.”

    Stupid Americans

  43. REAL Green on Tue, 19th May 2020 7:53 pm 

    “Stupid Americans”

    So true Davy. So true.

    If the joos open the borders again we need to move to Europe ASAP. The last place we wanna be is hear. It’s gonna be REAL Bad.

  44. JuanP on Tue, 19th May 2020 8:05 pm 

    Toto, We Ain’t In ‘Flatten The Curve’-Land Anymore
    “The COVID-19® deception was brilliant in that it accomplished multiple evil objectives all at once. The Coronavirus® pinprick collapsed the Economic Everything Bubble and deflected blame away from the bankers who blew it up. At the same time, it turned martial law into self-quarantine and abolished the First Amendment rights of American citizens including the free exercise religion, the freedom of speech, and the right peaceably assemble… all under the arbitrary mandates of Social Distancing®. Additionally, cash has been transitioned into a viral threat – thus paving the way to a new digital world order; and the end of privacy.”
    “Wake up, America. Before it’s too late.
    Stupid South Americans

  45. JuanPee on Tue, 19th May 2020 8:09 pm 

    JuanP Tue, 19th May 2020 7:53 pm

    “Stupid SouthbAmericans”
    So true Mak So true.
    If the joos open the borders again we need to move to Europe ASAP. The last place we wanna be is hear. It’s gonna be REAL Bad.

  46. REAL Green on Tue, 19th May 2020 8:09 pm 

    Thanks fer bringing out are other personality disorderly pink poodle Davy.

    dumbass

  47. Duncan Idaho on Tue, 19th May 2020 8:13 pm 

    “The present tense made him nervous.”
    ― William Gibson

  48. Duncan Idaho on Tue, 19th May 2020 8:15 pm 

    “—- is best visualized as a vicious, lazy, profoundly ignorant, perpetually hungry organism craving the warm god-flesh of the anointed. Personally I like to imagine something the size of a baby hippo, the color of a week-old boiled potato, that lives by itself, in the dark, in a double-wide on the outskirts of Topeka. It’s covered with eyes and it sweats constantly. The sweat runs into those eyes and makes them sting. It has no mouth, Laney, no genitals, and can only express its mute extremes of murderous rage and infantile desire by changing the channels on a universal remote. Or by voting in presidential elections.”
    ― William Gibson, Idoru

  49. Davy on Tue, 19th May 2020 8:18 pm 

    STFU REAL Green

    you stupid dumbass fuckwack

  50. makati1 on Tue, 19th May 2020 9:34 pm 

    Anon, I second your examples, stated above, of globalist supporters. Retards both. Typical useless eaters that Bill Gates is trying to kill off.

    I see the 2021 world as much different than the 2019 one, in mostly negative ways. The one world idea never had a chance with 195+ countries and many more cultures to deal with. Hell, even Amerikans cannot agree on anything these days.

    I think the planned virus destruction of the old ways and the construction of the new global domination of the elite is doomed to failure. Wait and see.

    Meanwhile, buckle up for the ride! It is going to be a doozy! LOL

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