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The Peak Oil Plateau Is Close

Production
Summary

Oil demand growth is flattening rapidly.

Peak oil demand is likely to happen in the next five to 10 years.

Borrowing has become very difficult, production is limited to cash flow.

Oil prices are likely to rise in the intermediate term.

Higher oil prices will spur the adoption of EVs and alternative energy.

This idea was discussed in more depth with members of my private investing community, Margin of Safety Investing. Get started today »

For what it’s worth, I do not vilify the use of fossil fuels in the past. For a very long time, using coal, oil and natural gas were the only options for improving global standard of living. I believe we need to keep that in context, even as the fossil fuel age ends.

With one recent exception, that might prove to be early, but not wrong. My analysis of oil has been spot on since around 2000 when I first bought Occidental Petroleum (NYSE:OXY) and a while later Petrobras (PBR) just after its IPO. In 2011, on MarketWatch, I predicted the shale boom a few months ahead of research reports from Goldman Sachs (GS) and Citigroup (C). In June of 2014 on MarketWatch, I forecast a large decline in the price of oil, possibly extremely lower. Extremely lower occurred.

Since then, we have seen one substantial rally in the price of oil which I also forecast. We also have seen the most recent drop of oil prices become a far more pronounced crash in oil (and gas) stocks – an occurrence I thought would be a mere correction, but that turned into a collapse.

The short run for oil is going to see more pain for most high debt oil companies that hold second best energy plays. The majors are not only overweight dead assets, but face a unique problem of litigation related to their climate change-related activities.

When the short-term carnage is over, the coming “plateau” could be very profitable for those who can pick the survivors. Most of the survivors have two things in common: Low-cost conventional assets and a major Permian presence.

What Is The Peak Oil Plateau?

As I define it, the “peak oil plateau” is the period during which oil supply and demand growth flatten and will be roughly in balance. Here’s a simple chart I scratched together a couple years ago extending then EIA projections.

As you can see, my projections have peak oil demand a bit over 105 million barrels per day in the next several years. That is fudgable by a few million barrels and a few years, but I believe generally about right based on different sets of extrapolations I have compared.

Demand Destruction For Oil Is Closer Than You Think

Over the next several years, demand growth for oil will come to a halt. That flies in the face of projections by OPEC, most oil companies and especially amateur oil permabulls. Here’s a summary of graphics from BP’s (BP) Peak Oil Demand And Long-run Prices report.

Peak Oil DemandExxon Mobil (XOM) in their 2019 Outlook For Energy state that “demand growth slows beyond 2030.” Their projections assume EV and alternative energy adoption near the low-end of projections I’ve read and 16 million barrels per day of increased oil demand from emerging markets by 2040.

Oil Demand ExxonEven with those assumptions, Exxon never sees oil demand exceed about 112 mbd. This is a dramatic shift from just a few years ago when their projections had oil demand increasing handily through 2040 to well over 120mbd. OPEC has seen a similar shift in outlook.

Let’s use BP’s chart again with some annotations and explanation. Note that the EIA and IEA have similar projections based on current policies. Those policies include energy production policies, such as clean air and clean water requirements as well as climate change policies.

Oil Decline To 2040What you see is that I believe that the IEA Sustainable Development will be the true impact on oil demand. I will take that a step further – I believe it’s the base case. Why?

My analysis points me to four rapidly moving developments:

  • Climate change policy at the government and corporate level is offsetting oil demand growth now. Changes to law and business practices to fight climate change are becoming more pronounced. China and India are in the early stages of massive clean energy pushes. Many emerging markets are skipping right over fossil fuel based electricity grids. As soon as a Democrat becomes president (which I put at over 85% likely in 2021), policy changes will become even more pronounced in the United States.
  • Technology improvement in battery technology for EVs (electric vehicles), hybrid vehicles and energy storage is happening quickly. My projections are that in roughly four to six years, passenger EVs will be completely cost competitive with ICE vehicles. Recent improvements and deals by Tesla (TSLA) indicate that at least the high end of the market will get there. However, the unveiling of the new Ford (F) Mustang demonstrates the entire market might be there very soon. GM (GM) plans to launch 20 fully electric vehicles within four years. Toyota (TM) hybrids are already cost competitive with ICE. Volkswagen (OTCPK:VWAGY), Volvo (OTCPK:VOLVY), BWM and others are on the way as well.
  • Demand for petrochemicals is wildly overstated. There’s already technology to replace much of the petroleum used in plastics. One company at the forefront is Newlight Technologies with their AirCarbon technology. Coca-Cola (KO) and Ikea already have used AirCarbon plastics.
  • Solar breakthroughs seem to occur each week. Efficiency is getting so high that solar is being used to power oil fields (that’s ironic isn’t it) and to replace coal fired power plants. It’s even accelerating past wind power now. One use for solar is being developed by a Bill Gates funded startup that just showed the ability to reduce fossil fuels for cement and other industrial uses by up to 60%.

Here’s where I think even the International Energy Agency data is light. The IEA projects over 130 million EVs on the road by 2030. I think this projection is extremely low. The U.S. alone could make up close to that number with minor improvements in adoption rates once Ford and GM come to market.

U.S. EV AdoptionGreentech Media

China and Europe remain the leaders in EV adoption. If China should reach the 30% market share for EVs they are seeking, then EV adoption by 2030 would exceed 250 million. It should be clear the pressure exerted by EVs on oil demand.

Ships (driven by IMO 2020 standards) also are becoming more efficient. This is in an age of tariffs that’s running into machine learning also moving supply chains. The moving of supply chains means that ocean container travel is likely to be lower for longer, and maybe forever, in addition to using less petroleum per mile.

Airplanes also are becoming more efficient, though delays in deployment are difficult to project. We have seen the Boeing (BA) 737 MAX grounded for months now. Even with growth in air travel, a recession or two in the 2020s, and aging of the global population could cause a flattening in air travel growth. My projections for jet fuel use are more flat than falling over time, but this does offset the general growth bias of most investors.

The theory that emerging markets will prop up oil demand also is proving to be a fallacy. Essentially all demand growth for oil is coming from the U.S., China and India. All three are looking to curtail that growth and reverse it by 2030. China and India already have passed legislation and California, which is one-sixth of the U.S. economy, is on the leading edge in America.

Global Oil Demand Growth

McKinsey provides a graphic that essentially labels my “base case” for oil use as their “new normal.”

McKinsey New Normal Oil

Extending this section into a book would not be difficult. Investors must accept that pressure on oil demand is real and accelerating.

Oil Supply Investment Is About To Crash Again

Capital budgets among U.S. oil producers have been flattening for a year now. Barclays (BCS) has estimated at least a 2% drop in capital spending this year and up to 7%. Cowen & Co has suggested total spending compared to last year to be down 10%-11%.

As it stands, borrowing to increase production is almost non existent for the industry. Refinancing debt that’s due has become difficult as well. At the DUG Midcontinent conference this week, as reported by Hart Energy, Guggenheim Partners managing director Subash Chandra said the industry is “in a full-blown liquidity crisis on top of our capital intensity issues.”

Projections for next year’s capital spending range as extreme as a 30% decrease. I don’t think that is likely, not yet. Here’s why.

As I said above, I think it’s very likely that a Democrat wins the presidency in 2020. All of them are saying they will end new drilling on public lands and offshore. Under this scenario, it would behoove companies to “drill, baby, drill” next year on public lands and offshore with every dime they have.

If by about March we do get a signal that the President Trump is floundering, I would expect companies to revise their annual capex as high as they can afford for 2020. They would drill and frack, quite possibly capping where they can.

Interestingly, Russia just stated they would be waiting until March to make an announcement about whether or not to change output. There could be a significant glut of oil next year only to fall off rapidly after the election.

What Can A Democrat President Do To Fracking?

Several Democratic presidential candidates also are saying they will ban fracking. Here’s what to know about that. Legally, that’s not something that can be done with an executive order – at least not without an immediate legal challenge that would like result a ban being at least temporarily halted.

In addition, the Republican tax cut bill included an underreported section that opened up oil drilling in large portions of the 19 million acre Arctic National Wildlife Refuge. And President Trump has been selling leases on public lands at a record pace with prices as low as $2 per acre. That throws a monkey wrench into undoing the leases.

What the executive branch can do and would do is work through existing air and water regulations to control fracking activity. This is an opinion that Wood Mackenzie also shares.

Gov. Gavin Newsom just imposed a moratorium on drilling and new leases on California due to spills and leaks. As somebody who has been to all the major shale plays except the DJ since 2011, I can tell you, there’s leaks and spills everywhere. The flaring of natural gas also is pervasive – take a look at any night time satellite image of America, you can see the oil fields glaring bigger than the megacities.

Environmental regulations strictly enforced would make certain oil projects uneconomical and those would stop for business reasons. In the intermediate term, that would in fact drive oil prices back up – a likelihood that Harold Hamm alluded to this week at DUG.

Democrats of course want to drive the price of oil and gas up at least from the current rock bottom levels. Driving up oil prices would spur the adoption of EVs and alternative energy even faster, which of course is a climate change policy goal.

Killing The Oil Zombies

In the next year, oil prices look likely to look weak and range bound, unless there’s a greater conflict in the Middle East, which could certainly happen.

The most recent decline in oil and natural gas prices already has been nothing short of cataclysmic for many exploration and production companies.

I outlined on Seeking Alpha the reasons “why oil stocks are priced for Armageddon.” Among the chief causes are an early stage shift away from fossil fuels, poor financial management in the shale patch, a remarkably strong divestment movement for oil and gas stocks, and general disinterest by Millennial investors.

Also, from what I can see, most oil executives and boards of directors did what they could to line their own pockets at the expense of shareholders. Many should face clawbacks as far as I’m concerned, and a few should get criminal charges (I felt the same way about bank executives and bank boards of directors during the “Great Recession”).

So far, we have seen the prices of many companies down well over 50% from rebound highs in 2018. Chesapeake Energy (CHK), a company I believed would survive, is on the verge of a reorganization that will likely wipe out or nearly wipe out current shareholders.

Larger, more oil focused companies, such as ConocoPhillips (COP), EOG (EOG) and Occidental Petroleum (OXY) are down 30-45% from 52-week highs. Even majors Exxon Mobil and Chevron (CVX) are down 17% and 5% from 52-week highs.

Clearly, some of this is piling on. Throwing out the babies with the bath water. That said, the bath water is very dirty.

If the price of oil (and gas – which is almost certain) remains low in 2020, then it’s almost assured that bankruptcies among companies not operating out of cash flow skyrockets. Bankruptcies already have ticked up in 2019:

Oil Company Bankruptcies

In Q1 of this year, I showed members of Margin of Safety a screen I run that showed only about a dozen shale companies were operating out of cash flow. A recent Rystad study of the 40 largest shale producers show that they had turned cash flow positive as a group by $110 million over capex.

What should be understood is that it’s the performance of a bit more than a dozen companies that drove that positive cash flow. I covered most the companies that turned cash flow positive earlier this year in an article titled the The Dirty Dozen Oil Stocks For 2019 and another discussing Permian players, ripe for M&A activity.

In the short-term, the next year or two, only a dozen or so companies in the shale patches and maybe Total (T) in my opinion among majors are sure survivors of the coming zombie apocalypse coming the next year or two. The rest of the batch, be careful of.

The Bullish Intermediate Term For Oil

So, if oil investment declines after 2020 due to regulations, then the intermediate term for survivors looks good.

Consider, fracked wells have fast decline rates, losing at least a third of production sometime in year 2. A dramatic drop in fracking could be interpreted as a supply disruption. I think that disruption would be short lived however, as Saudi Arabia would return to the “drill, baby, drill” mentality and cap oil prices under $100 per barrel.

Oil Price Scenarios

Companies with lease holds on public lands already are getting to them at a faster rate because they know those are the one most likely to go away. Oil executives with drilling rights on public lands are very likely to drill those in 2020. That is in fact already happening.

If I am an oil exec, I’m also drilling and fracking as many wells as I can afford to, even if I have to cap them short term. I expect that most companies with cash will come in at the very high end of their capital budgets in 2020 or slightly exceed.

That means the price of oil, short of a greater Middle East conflict and disruption, likely does not reach $80 per barrel in 2020 as I had previously thought. There’s huge uncertainty of course.

After 2020 though, I think the price oil rises are likely to rise due to changes in policy, financing tightness, decline rates and requirements by investors to operate within cash flow and return money to shareholders. The death of the oil zombies will make the survivors big winners off of bottom fishing prices.

The Bottom Line On The End Of The Oil Age

Regardless of what you want to believe, the end of the oil age has started. We are no longer in batting practice. We are into the game and working our way through the line-up.

No doubt there will still be trading scores to make. And that’s how to think about oil now as an investor, if you want to play in the oil patch at all. Oil investing is dead, but long live oil trading.

I continue to believe that the Permian players are the best bets. I don’t like companies focused on California, Colorado or Oklahoma. The Bakken will have some legacy winners, but several are on long-term run outs of their businesses and without large dividends are of little interest.

Also, as I said a couple years ago, deep water drillers are doomed, even if oil prices surge. Bankruptcies and the collapse in projects has proven that out and there is no return. Exxon will learn that in Guyana soon (more on that in coming weeks).

Some of the oil companies will move into the next era of low carbon energy, making them highly attractive on share price crashes. Incorporating carbon control technology and alternative energy is the next logical step for long-term focused companies. I will cover these in coming articles.

Contact Kirk Spano by direct message to receive your first year with Margin of Safety Investing for half price – only $249.50. Find out how our team can help you beat the markets in up and down cycles. Our approach could prove very valuable in a slowing economy with flat earnings and international risk rising.

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141 Comments on "The Peak Oil Plateau Is Close"

  1. Davy on Tue, 26th Nov 2019 8:51 am 

    “The Dems are parroting the neocon lies”
    Let me see if I understand this writer’s logic. So the Dems are the “bad guys” for supporting neocons and Trump is the “good guy” for not supporting neocons”

    Let see, hum, maybe honest liberals will see both sides are supporting corrupt imperials objectives through neocon activity. You see a blind liberal could never come to such a conclusion because they are hopelessly trapped in the failed Russia hoax and Ukraingate. They are also in denial of the treasonous activity of the intelligence services, deep state of unelected administrative people in DC, and finally the criminal MSM lies.

  2. full woke supremacist muzzies jerk maximum newspeak double rainbow all the way across the sky so intense whoa it begins to look like a triple rainbow what does it mean omg WDIM on Tue, 26th Nov 2019 5:00 pm 

    If it look like a duck quack like a duck it’s a duck.

    If muzzie looks scary, kill people, it’s a peaceful muzzie. This lack of fear of muzzie is a newday invention.

    the wisdom of low english

  3. full woke supremacist muzzies jerk maximum newspeak double rainbow all the way across the sky so intense whoa it begins to look like a triple rainbow what does it mean omg WDIM on Tue, 26th Nov 2019 8:02 pm 

    Now people want change Thanksgiving to conan day
    Conan was partly responsible for muzzies died like a dog
    Muzzies is not muzzies
    Muzzies was buried as muzzies at sea
    Is it a spark plug you talking about
    What do you use it for
    BUTT PLUG
    BUTT PLUGGGAAA
    thank you
    Muzzies died like a dog
    There are tons of muzzies here

  4. DerHundistLos on Tue, 26th Nov 2019 11:21 pm 

    “Let see, hum, maybe honest liberals will see both sides.”

    According to you, I am dishonest and you are honest because you present both sides.

    Really? Since when? Can you reference one or two of your posts that present both sides in an honest manner?Can you reference one or two posts that present anything but a pro-Trump perspective?

  5. DerHundistLos on Wed, 27th Nov 2019 12:15 am 

    Trump loudly booed by sporting fans:

    https://www.youtube.com/watch?v=KdVBXo0zW2s

  6. Cloggie on Wed, 27th Nov 2019 1:27 am 

    “Trump loudly booed by sporting fans:”

    DerHund mischievously says “Trump” where he should have said “Melania Trump”.

    She is booed because she is white and the crowd is majority black.

    Yet DerHund, another disgusting white corrupt-to-the-core American leftist libtard, who cares more about the fate of the North-American red-butt frog than “his own people”, can hardly suppress his gloating about the booing because she is the wife of the hated Trump and his “beautiful green coal”.

    DerHund probably also jerks himself off if another man f* his wife.

    DerHund, another old white guy with money, who will never be found in “hoods”, pretends to be race-blind and bathes himself in non-existing moral-superiority.

    Tell me Hound, on which side will you be in CW2? Oh wait, you will hide out in the forests of Middle-America (the Middle America below Mexico that is). You have no country. You are a globalist.

    Regardless of your sympathy for the German people in WW2, I’m going to enjoy the demise of you and your kind like a 20 m long hand-rolled Cuban cigar.

  7. Cloggie on Wed, 27th Nov 2019 1:35 am 

    Realism sinks in at the British Isles:

    https://www.dailymail.co.uk/news/article-7729471/Britains-critical-shortage-artillery-means-wed-lose-war-against-Russians.html

    “Outgunned by Moscow: Britain’s ‘critical shortage’ of artillery means we’d ‘lose a war against the Russians’, say military experts in scathing report”

    https://www.dailymail.co.uk/news/article-7719785/Defence-chiefs-plan-slash-Army-size-lend-one-Royal-Navys-aircraft-carriers-US.html

    “Boris Johnson vows to maintain the size of UK’s military after claims that defence chiefs will slash the Army to its smallest size in a century and lend aircraft carriers to the US”

    The official story is that Britain is the only European country that keeps up to the pledge of 2% budget commitment to the military (and NATO).

    The truth: “Tories pledged in 2015 to maintain force of 82,000 but it is already at 73,000”

    Plan: “Military top brass are considering cutting the army down to between 60,000 and 65,000”

    “Boris Johnson vows to maintain the size of UK’s military after claims that defence chiefs will slash the Army to its smallest size in a century and lend aircraft carriers to the US

    LOL

    More signs that Anglo supremacy is breaking down.

  8. Cloggie on Wed, 27th Nov 2019 1:38 am 

    https://www.dailymail.co.uk/news/article-7719773/Nicola-Sturgeon-says-SNP-Labour-Jeremy-Corbyn-scraps-Trident.html

    “Scrap Trident and I will put you in Number 10: Nicola Sturgeon confirms getting rid of UK’s nuclear weapons would be a red line for the SNP during talks to prop up a minority Labour government led by Jeremy Corbyn”

    Nicola Sturgeon wants to be part of the EU. She is welcome.

    As a present for the EU she could help Corbyn into the saddle, for instance after BoJo is chased out of office when it becomes obvious that Brexit isn’t all that of a big success, in exchange for an England that will be nuclear disarmed.

    No worries lads, we from continental Europe (PBM) will protect you.

  9. Davy on Wed, 27th Nov 2019 1:54 am 

    “According to you, I am dishonest and you are honest because you present both sides. Really? Since when? Can you reference one or two of your posts that present both sides in an honest manner?Can you reference one or two posts that present anything but a pro-Trump perspective?”

    “Tulsi Gabbard for president” do a little research and maybe you will look a little less blind. If I like Trump now it is only because of the lies and treasonous activity you blind lying liberals are propagating in DC with your phony show courts of extreme mentally diseased people. You postals are going down screaming and gnashing your teeth. You offer no alternatives. Good people like Tulsi are being savagely attacked by the insider liars in the Deep State Democratic apparatchik and corrupt liberal MSM. This is a disgusting example of internal rot. The Democratic party is dead and quivering on the gurney and you are in awe of it.

  10. Davy on Wed, 27th Nov 2019 2:05 am 

    “Outgunned by Moscow: Britain’s ‘critical shortage’ of artillery means we’d ‘lose a war against the Russians’, say military experts in scathing report”
    Cloggo, I though missiles were all that mattered to you. Now it is artillery?? Artillery is much less the factor on the battlefield anymore. It matters in certain tactical circumstances but war fighting has changed so much in the last 2 decades with many more applications of weaponalogy with diverse strategies. The old WW2 world you live in is dead.

    “Boris Johnson vows to maintain the size of UK’s military after claims that defence chiefs will slash the Army to its smallest size in a century and lend aircraft carriers to the US”
    The US does not need a UK carrier. I monitor world defense sites and the reports of a carrier being lent to the US are next to none. It is non-news, cloggo, but you spin it as news.

    The official story is that Britain is the only European country that keeps up to the pledge of 2% budget commitment to the military (and NATO).
    The facts are the UK has one of the best defense forces in NATO. The rest of continental Europe is a mess. European armies are paper armies with defense company obligations. They buy systems that do not make Europe secure and definitely do not project power. Your Napoleonic armies are in your head cloggo. The US keeps you safe other wise you would drift into irrelevance and a small nation like Russia could walk right in and become boss.

  11. Davy on Wed, 27th Nov 2019 2:14 am 

    Obama and Clinto still call the shots in the dying quivering party:

    “Obama Admits He Would Speak Up Only To Stop Bernie Sanders Nomination”
    https://tinyurl.com/qqrokxr zero hedge

    “As we noted earlier, a bombshell admission from Politico today exploring Obama’s substantial behind the scenes influence as Democratic kingmaker: included in the lengthy profile on the day-to-day of the former president’s personal office in the West End of Washington D.C. and his meeting with the field of Democratic candidates, is the following gem: “Obama said privately that if Bernie were running away with the nomination, Obama would speak up to stop him.”… So the reality is… far from the idea that the Dem elites would back the actual nominee the party puts forward, clearly the die has already been cast against Bernie just like the last time around against Hillary in 2016. Politico author Ryan Lizza later in the story quotes a “close family friend,” who described that Obama’s “politics are not strong left of center.” “I mean it’s left, but he’s nowhere near where some of the candidates are currently sitting, at least when he got himself elected,” the source claimed. This means in the mind of Obama and other top party influencers and kingmakers, Bernie and other popular outliers like Tulsi Gabbard have already long been sidelined. Tulsi, it should also be noted, is one of the couple of candidates who did not bother to stop by Obama’s D.C. office for a ‘blessing’ and advice.”

  12. Davy on Wed, 27th Nov 2019 2:17 am 

    Oops, the golden decade looks more and more like a turd.

    “Audi To Slash 9,500 Jobs As Global Auto Industry Implodes”
    https://tinyurl.com/w7n4ggk zero hedge

    “Audi has made arrangements to slash 9,500 of its 61,000 workers in Germany over the next five years to streamline its business ahead of a period where the global economy is expected to grow below trend, Automotive New reported. Though Audi’s investor relations has spun the massive job cuts as a way to transition the company into a sustainable path of investing in the future of electric cars, the actual reason for the cuts is because the global automobile industry is collapsing. The epicenter of the automobile downturn is in China, India, Germany, and Japan. Some industry hubs in the US have already been affected. Audi sales have plunged, and revenues and operating profits are down in the first nine months of 2019. The upcoming restructuring is in preparation for the company to weather the economic storm. Audi will save at least $6.6 billion from the cuts, which will allow it to channel money into building out its electric car segment and create several thousand green jobs.”

  13. Davy on Wed, 27th Nov 2019 4:47 am 

    I lurned me the wurd turd from my neighbor Billy. He just turned five. Billys real smart. I like Billy a lot.

  14. DerHundistLos on Wed, 27th Nov 2019 5:20 am 

    Davy, are you going to answer my question?

    Can you reference one or two of your posts that present both sides in an honest manner? Can you reference one or two posts that present anything but a pro-Trump perspective?

    Regarding your newest accusation, “because of the lies and treasonous activity you blind lying liberals are propagating in DC.”

    What lies? What treasonous activity?

    I want proof. Doing a copy and paste of Zero Hedge conspiracy nonsense proves nothing.

    This reminds me of when you were pushing the PizzaGate conspiracy lie. Then you were pushing the Seth Rich lie until Fox News was forced to publish a public apology to the family of Seth Rich for perpetuating lies. Then it was the HillaryGate lie.

  15. DerHundistLos on Wed, 27th Nov 2019 5:25 am 

    Cloggie-

    Did you watch the entire broadcast? Nope. Let’s try again.

    Trump loudly booed by sporting fans:

    https://www.youtube.com/watch?v=KdVBXo0zW2s

  16. DerHundistLos on Wed, 27th Nov 2019 5:28 am 

    Trump loudly booed by sporting fans at 3:46. Previously, Melania loudly booed after Trump savaged Baltimore when tweeting about the death of Rep. Cummings.

    https://www.youtube.com/watch?v=KdVBXo0zW2s

    Hope this specificity helps you, clogged.

  17. DerHundistLos on Wed, 27th Nov 2019 5:54 am 

    Cloggie-

    Hey, stupid, did you watch the entire video? It was a compilation of boos Trump and his “Einstein VISA” wife received at various venues.

    First, Davy accuses me of treason. Then you wish me to die in a civil war. Why? Because I dare to speak out against Dear Leader Trump. These comments speak volumes about Trump ditto-heads and the cult of Trump./

    As Trump accurately commented, “I could commit murder in the middle of Times Square at twelve noon on a Wednesday and my supporters would defend my innocence.”

    Gee, that’s something to be proud of.

  18. JuanP ID theft on Wed, 27th Nov 2019 5:59 am 

    This is from stupid:

    Davy said I gots to admit though cloggo. The collapse likely…

    Davy said I lurned me the wurd turd from my neighbor Billy….

    Davy said Oops, sorry JuanP. Old friend. I see now the title…

  19. Davy ID Fraud on Wed, 27th Nov 2019 6:03 am 

    This is from the lunatic:

    JuanP ID theft said this is from stupid…

  20. Davy on Wed, 27th Nov 2019 6:07 am 

    “Can you reference one or two of your posts that present both sides in an honest manner? Can you reference one or two posts that present anything but a pro-Trump perspective?”
    I have referenced multiple articles showing the crimes if that is what you mean.

    “Regarding your newest accusation, “because of the lies and treasonous activity you blind lying liberals are propagating in DC.” What lies? What treasonous activity?”
    The spied on and disrupted presidential election of 2016 and the attempted overturning of the election and sitting president by whatever method possible. IOW Russiagate and Ukrainegate. IMA a fraudulent election on the Democratic side because of the irregularities in voting and the smackdown of Bernie. I might have voted for Bernie BTW if Klinton would not have been on the ticket. I disliked Trump that much back then. Obama and Klinton destroyed the Democratic party.

    “I want proof. Doing a copy and paste of Zero Hedge conspiracy nonsense proves nothing.”
    LOL, der hund If you want proof your lies are correct keep watching and reading the corrupt liberal MSM. If you want reality read multiple alternative sources from many people who don’t like Trump but like less the destruction of the body politic and the constitution.

  21. Davy on Wed, 27th Nov 2019 6:30 am 

    “Can you reference one or two of your posts that present both sides in an honest manner? Can you reference one or two posts that present anything but a pro-Trump perspective?”

    To be honest for a change.

    No. I can’t.

  22. I AM THE MOB on Wed, 27th Nov 2019 6:32 am 

    Davy

    The dying party? Are you kidding me? boomer are gonna start dropping like flies soon 2026sih. And once Texas turns blue due to mass immigration. Every election will be a certainty for the dems. They won’t need all the stupid battleground states anymore. And Florida is right behind them.

    Zerohedge has Zero credibility. They said the Cons would keep the house. lol

  23. I AM THE MOB on Wed, 27th Nov 2019 6:33 am 

    AOC raised most money among House Dems for reelection campaign

    “US Rep. Alexandria Ocasio-Cortez raked in more money for her reelection campaign in the last fundraising quarter than any other House Democrat — including Speaker Nancy Pelosi, records show.”

    https://nypost.com/2019/11/26/aoc-raised-most-money-among-house-dems-during-reelection-campaign/

  24. Davy on Wed, 27th Nov 2019 6:47 am 

    Zerohedge does so have credibility SLOB.
    Media Bias rates it as an extreme right biased conspiracy website. So it has credibility with us extreme right biased conspiracy theorists. Even though Zerohedges stories have a dismal track record when it comes down to the facts.

  25. I AM THE MOB on Wed, 27th Nov 2019 7:13 am 

    Thanksgiving sucks because I hate eating ‘white’ meat.

    LOL

  26. I AM THE MOB on Wed, 27th Nov 2019 7:19 am 

    Davy

    You are right. There readers are in a ‘deep state’ of paranoia.

    LOL

  27. JuanP ID theft on Wed, 27th Nov 2019 7:40 am 

    This is stupid:

    Davy said Zerohedge does so have credibility SLOB. Media Bia…

    Davy said Oops, sorry for getting all triggered again and lo…

  28. Davy on Wed, 27th Nov 2019 7:43 am 

    “The dying party? Are you kidding me? boomer are gonna start dropping like flies soon 2026sih. And once Texas turns blue due to mass immigration.”

    The fracturing of ID politics and the extremism of radical socialistic policies means your so called blue wave will amount to still waters. The center wants nothing to do with your extremism, MOBster. If you and yours don’t moderate you will be rejected harshly. In fact many of you are heading to prison eventually. That is what happens to radicals who don’t know how to play fair.

  29. I AM THE MOB on Wed, 27th Nov 2019 8:44 am 

    Davy

    ID politics? That comment is through the looking glass levels of irony. Boomer.

    LOL

  30. Davy on Wed, 27th Nov 2019 8:46 am 

    IMA MOBster. There is no center left in Amurika anymore. Only extremist. That’s why we’re so divided and in the starting of CW2. That and your tribe have robbed the country blind.

  31. I AM THE MOB on Wed, 27th Nov 2019 8:49 am 

    Davy

    AOC raised most money among House Dems for reelection campaign

    “US Rep. Alexandria Ocasio-Cortez raked in more money for her reelection campaign in the last fundraising quarter than any other House Democrat — including Speaker Nancy Pelosi, records show.”

    https://nypost.com/2019/11/26/aoc-raised-most-money-among-house-dems-during-reelection-campaign/?fbclid=IwAR0uJMPTh1ZHroNSgLCLwFgEjjV89OXq4dLfowCl0UIoK67RaX6UaxvixBs

    This data proves just how out of touch with the times and reality you are. Boomer

  32. I AM THE MOB on Wed, 27th Nov 2019 8:53 am 

    Robert Redford: Trump is running ‘dictator-like’ administration

    https://thehill.com/blogs/in-the-know/472095-robert-redford-trump-is-running-dictator-like-administration

  33. JuanP ID theft on Wed, 27th Nov 2019 9:52 am 

    This is the board stupid

    Davy said “ It is pretty obvious what the global leadership…

    Davy said REAL Green has no more control over the outcome of…

    Davy said IMA MOBster. There is no center left in Amurika an…

  34. DavySkum Reports on Wed, 27th Nov 2019 10:22 am 

    DavySkum Reports:

    Skum, you are a perfect negative indicator. The opposite position to Skum’s is always correct.

  35. Cloggie on Wed, 27th Nov 2019 11:26 am 

    The facts are the UK has one of the best defense forces in NATO. The rest of continental Europe is a mess. European armies are paper armies with defense company obligations. They buy systems that do not make Europe secure and definitely do not project power. Your Napoleonic armies are in your head cloggo. The US keeps you safe other wise you would drift into irrelevance and a small nation like Russia could walk right in and become boss.

    Haha, Britain soon will have 60,000 troops, four times smaller Holland has 39,000. The other have much more. France has 300k, Britain 146k active personnel, Germany 182k, Poland 120k (with huge 15 million reserves from conscription).

    You are not projecting anything other than total failure, witnessing that you get your sorry weak ass kicked by the likes of Vietnam, Iraq, Syria.

    We don’t need your f* “protection”. All you achieve is keep a bunch of leftist vassals lording over us, selling us out to the third world. Thank God you are much more weakened than us because of third world immigration and you have reached breaking point.

    Russia has neither the intention nor the ability to run us over, certainly not with China in its back, the EU vastly outspends Russia:

    https://www.rferl.org/a/russia-nato-spending/28453193.html

    Eastern Europe got rid of the USSR in 1989, we will get rid of you before the next decade is over, mostly because you are going to neutralize yourself in the upcoming CW2. And then you will be our balkanized bitch, because a substantial white minority in the US will prefer to be a junior partner of Europe and member of the white world, rather than the third world hell hole the kikes have in store for you. America was a mistake to begin with, because you (and your Soviet buddies) were no match for the heebs.

    Post-heeb Russia is an acceptable partner, you not yet. Don’t worry, you will be, after The Break.

    “Then you wish me to die in a civil war. Why?”

    Where did I say that? I said you would be in safety in “Middle America” (the one below Mechico). With “your demise” I meant ZOG-USA.

    I did not watch the video, I only read somewhere else that Melania Trump had been booed in Baltimore. I was not aware that her hubby was there too. My bad.

  36. Cloggie on Wed, 27th Nov 2019 11:50 am 

    Bregret-lite?

    https://www.dailymail.co.uk/sciencetech/article-7731803/UK-increase-funding-European-Space-Agency-15-cent.html

    “UK ‘to increase funding to European Space Agency by more than 15 per cent’, claiming it wants to play a ‘full part’ in future missions to the moon and Mars”

  37. full woke supremacist muzzies jerk maximum newspeak so anyway I'm a cat lover and I love to run sorry I'm being emotional I'm thinking about cats again i just love cats on Wed, 27th Nov 2019 11:53 am 

    Supertard cloggie I’m sorry I’m not so sure of my putin lovin. I think supertard theedrich is right it’s bad. I think I’m a xie lover because he doesn’t love muzzies. He loves money I’m sure everyone does. He likes pork which I do and he doesn’t bag women. Xie doesn’t FGM NASTY them either. Putin said muzzie religion of peace supertard big muzzie beard said. Since ure a muzzie lover I guess u love putin and I’m not

  38. Cloggie on Wed, 27th Nov 2019 12:40 pm 

    I don’t “hate” or “love” Muslims or Africans, I just want to keep the identity of my country and resist becoming overrun, like the US already is.

    The US-empire, whose “protection” we “enjoy” since the US murder campaign against Germany, planned by the kikes and enabled and justified by despicable traitors and mass murder apologists like the fool from the Ozarks, has as its “calling” to wipe out the Europeans world-wide by drowning them in the third world. Thank God, Americans go first (if they don’t resist), offering us in Europe a window-of-opportunity to escape from the largest disaster in European history, namely ZOG-USA.

    Pay no attention to the lip-service Putin is paying to the 10% or so Muslims he happens to have within his border. Russia is 90% Russian and Putin has no plans to import large numbers of Muslims.

  39. Cloggie on Thu, 28th Nov 2019 11:19 am 

    “The number of EU citizens migrating to UK falls hits the lowest level in SIXTEEN YEARS as overall net immigration also falls to 212,000 a year – but arrivals from outside the bloc are rising”

    https://www.dailymail.co.uk/news/article-7734797/Net-immigration-Britain-212-000-year-June.html#comments

    Net 212k immigrants of which 48k Euros (“The BLock”) and the rest third world. 65k Britons left the UK, most probably to “The Block”.

    Almost there, should be 0k Euro’s. Euro’s belong in continental Europe, not in Global Britain.

    https://www.dailymail.co.uk/news/article-7733649/Planet-reached-climate-change-tipping-points.html

    “Planet has ‘already reached climate change tipping points’ as leading scientists warn we are heading for catastrophic domino effect”

  40. full woke supremacist muzzies jerk so anyways i'm a cat lover and i love to run. sorry i'm being emotional i'm thinking about cats again on Fri, 29th Nov 2019 10:33 pm 

    let’s forget todays attack by muzzies because muzzies attack is the past very quickly. nevermind it’s 1400 years and will continue into the future and present.
    let’s no discuss muzziesidealogies because it deminishes the sacred cow of muh bodily fluid

  41. full woke supremacist muzzies jerk so anyways i'm a cat lover and i love to run. sorry i'm being emotional i'm thinking about cats again on Fri, 29th Nov 2019 11:44 pm 

    Somebody did something in london and Hague
    Love for muzzies increase 20000x

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