by Summary:
We already saw 0 oil in 2008. That was the culmination of a runnup from in 2004. But above 0 and the income lost to the foreign sector could seriously impact the economy.
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Mike Norman considers the following as important:
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We already saw 0 oil in 2008. That was the culmination of a runnup from in 2004. But above 0 and the income lost to the foreign sector could seriously impact the economy.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Joel Eissenberg writes Undocumented labor: solutions, not scapegoating
| We already saw $150 oil in 2008. That was the culmination of a runnup from $40 in 2004. But above $150 and the income lost to the foreign sector could seriously impact the economy. |
no fly zone will start WWIII
I am holding no matter and buying oil services
Good point of view thanks Mike
I live in the west and I thank God that Russia is pushing back against the west. In my country Canada our prime minister trudeau has become a tyrant not allowing for free speech and demonstrations (look at the suppression of the great Truckers Freedom convoy . In the USA – same thing with the President suffering from dementia (who is in charge?????). So sad. We pray for the success of Russia (and Ukraine) for the success of this exercise as we know if it goes unchallenged the world will continue to spiral downward. The reasonable concerns of Russia MUST be addressed – WE WILL ALL BENEFIT.
yea dude we also need to all support the truckers in the us
Lower taxes would help on the pocketbook but no one wants to talk about that.
Depends
@Cyrus992 That's an adult diaper brand.
Trump created jobs and gas was $1.95
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Lol
Probably not too many road trips this summer. Lots of staycations… If nuclear war were to happen, I'd prefer to die before the cannibalism starts. I'm not sure there's any point in trying to survive.
Plenty of Japanese survived.
I'm skeptical anyone will pull that trigger. News saying Putin is not a "rational actor" but I don't believe that. Capable of ruthlessness? Oh yes. So is our side. I rmber Hillary laughing when a Head of State got anally gRaped on camera by Islamic rebels.
@dilbertgeg I agree with you, hopefully cooler heads prevail, but we have weapons to sell, so who knows far the Americans will push it… About Japan, that was 2 bombs, US and Russia have thousands of bombs, some are up to 1000x more powerful than the hiroshima and nagesaki bombs, having a good chunk of that go off would be a different matter. If the radiation doesn't kill us off, think of the risk of societal collapse. Many of our major cities would be destroyed. Huge amounts of industry and organizational structures (business and government) could be vaporized.
This is going to get very amusing. Venezuela will stall oil negotiations with Biden till oil is $300/barrel. Then they will settle for long term contracts at $150 a barrel. BARGAIN.
I think we need to keep our eyes on Syria. EU, US, and UK bombing will intensify in my opinion. The end goal is Qatar – Turkey pipeline. Ukraine as US occupied territory to "help rebuild it". Putin got played all these years thinking the US dollar was dead when he thought they were going trade Nord Stream 2 gas over Euros. Imagine knowing this fake hand being played all these years and now they want to install THAAD on his borders. The US has him where they want him. Lots of lives will be lost protecting the dollar energy trade.
But wait you told us they were peacekeepers and it was gonna be a good thing!
you the man mike. balanced, rational, professional, pragmatic & fair. globalization is good for the dollar & good for america. de-dollarization & de-globalization is bad for the dollar & bad for america. if the us dollar was not the world reserve currency then have at it. many morons can't grasp this concept. sanctioning countries is idiotic economically but only beneficial politically good for them though right but bad for y'all as your fuel costs & food & inflation sacrifice you for their minority elite woke bullshit idealism.
2:20 Not banning Russian oil and gas isn't hypocritical; it's common sense. Russia is self-sufficient for food and energy, and the West relies on both from Russia. An embargo would result in very high inflation and WW2-style rationing in the West, and meanwhile a massive surplus and record low prices for Russians. It would be a great way for Putin to get more support at home. Anyway, Russia would just sell it to China, which would sell it on to the West at a profit.
on your last point yup china sells at west to a profit which means pay more for oil rather than direct from a major supplier ie: russia which still keeps inflation high
Thx for your rants.
Let's stay focused Mike!
Great insights Mike. Keep up the good work. Especially required during these times imho.
We should never have had sanctions vs Vz or Iran, but we should against Russia because they have invaded a neighbour without provocation. So this is a silver lining.
You assume that all oil is equal. It's not. Refineries are setup to handle Brent or West Texas light sweet. Most US refineries handle heavier oil. We export lighter stuff for refining elsewhere. This is why Keystone XL made sense. It was bringing very heavy/dirty oil to existing US refineries, since Canada did not want to built out such capacity domestically.
The west just banned oil from Russia. Not so hypocritical anymore eh Mike? I’ll sure you’ll find a way to still say the West is hypocritical. Why don’t you cut the crap and just tell us you’re a Russian shill
Production is stuck due to federal regulations preventing transport via truck, train or pipeline. Why drill on 99,000 leases when you cannot transport it.