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IEA: Oil Prices Could Rise Further As Shale Can’t Fill The Gap
IEA: Oil Prices Could Rise Further As Shale Can’t Fill The Gap U.S. shale will continue its breakneck growth rate into 2019, despite bottlenecks, but the oil market still faces serious supply risks from the potential losses from Venezuela and Iran, the International Energy Agency (IEA) said in a new report. The IEA said that […]
Trump Slams OPEC Again, Demands Lower Prices: “Oil Prices Are Too High, OPEC Is At It Again”
Trump Slams OPEC Again, Demands Lower Prices: “Oil Prices Are Too High, OPEC Is At It Again” Nearly two months after Trump drew a line in the sand on oil prices, when on April 20 he lashed out at OPEC, tweeting that “Oil prices are artificially Very High! No good and will not be accepted!”which […]
The Government WILL Take Your Supplies: Venezuela is Seizing Cattle and Inventory
The Government WILL Take Your Supplies: Venezuela is Seizing Cattle and Inventory Something has been happening in Venezuela these last few days: the seizing of cattle, food, and staples from the production sites, by the so-called “authorities” that are not such. In the past years, factories such as GM and Kimberly Clark were seized by […]
OPEC And Russia Prepare For Long-Term Control Over Oil Market
OPEC And Russia Prepare For Long-Term Control Over Oil Market In a tight oil market reacting with price gains to concerns about supply shortages, the leaders of the OPEC and non-OPEC nations part of the production cut deal—Saudi Arabia and Russia—hinted last week that easing the cuts was an option that they had discussed and […]
Don’t Take Higher Oil Prices For Granted
Don’t Take Higher Oil Prices For Granted Oil prices collapsed at the start of this week, with WTI and Brent dropping 5.5 percent and 7.5 percent respectively from their three and a half year peaks. This recent price slump serves as a timely reminder for market observers and players alike that, while a heightened geopolitical […]
Peak oil in Venezuela: El Furrial oil field
Peak oil in Venezuela: El Furrial oil field We see the impact of the conventional oil peak in Venezuela. As an example let’s look at the El-Furrial field. Fig 1: Not La-Hora-Zero (yet) but low voter turn-out for the May 20 Maduro election http://800noticias.com/foto-caracas-desolada-este-domingo-en-pleno-proceso-electoralhttps://twitter.com/eutrafico Location Where is El Furrial? It is located 30 km west […]
Reuters: OPEC Production Falls To 13-Month Low
Reuters: OPEC Production Falls To 13-Month Low OPEC’s oil production dropped in May by 70,000 bpd to 32.00 million bpd on the back of outages in Nigeria and a continuous decline in Venezuela that dragged the cartel’s total production to the lowest level since April 2017, according to the monthly Reuters survey. The largest fall […]
Venezuela Defies the US Empire Reelecting Maduro
Venezuela Defies the US Empire Reelecting Maduro Photo by Joka Madruga | CC BY 2.0 The Venezuelan people reelected Nicolás Maduro for a second presidential term on May 20. A US-backed political tide of reaction had been bucked, which had swept away previously left-leaning Latin American governments – often by extra-parliamentary means – in Brazil, […]
Investing in Collapse
Investing in Collapse For years, I’ve been writing about Venezuela, describing it as the “movie” by which we can view the future of other jurisdictions that are presently in decline. The reason is that declining nations follow the same pattern, time and time again, over the centuries. This is not coincidence. The pattern exists because […]
The US is Meddling in Venezuelan Election
The US is Meddling in Venezuelan Election As Venezuelans go to the polls Sunday, the U.S. is working to disrupt the re-election of Nicolas Maduro and rollback leftwing governments in the region, reports Roger D. Harris. Venezuelan President Nicolás Maduro is the frontrunner in the presidential elections that will take place on Sunday. If past […]
Venezuela’s Episode of Hyperinflation Reaches New “Highs” – Prices Double Every 17.5 Days
Venezuela’s Episode of Hyperinflation Reaches New “Highs” – Prices Double Every 17.5 Days The most important price in an economy is the exchange rate between the local currency and the world’s reserve currency — the U.S. dollar. As long as there is an active black-market (read: free market) for currency and the data are available, […]
Life Without Medical Care: How the Public Health System Collapsed in Venezuela
Life Without Medical Care: How the Public Health System Collapsed in Venezuela Editor’s Note: People who have been through a collapse, like Jose and Selco, know for a fact what it is like to live in a place where there are no hospitals, little medicine, and few professionals. In this article, Jose gives us a […]
Venezuela on the Eve of Presidential Elections: The US Empire Isn’t Sitting by Idly
Venezuela on the Eve of Presidential Elections: The US Empire Isn’t Sitting by Idly Photo by Joka Madruga | CC BY 2.0 “I don’t see why we need to stand by and watch a country go communist due to the irresponsibility of its people. The issues are much too important for the Chilean voters to […]
Ex-Venezuela Oil Boss: PDVSA Is Collapsing
Ex-Venezuela Oil Boss: PDVSA Is Collapsing The man who ran Venezuela’s state oil company PDVSA for a decade after 2004 says that the country’s oil firm is on the cusp of total collapse and expects oil production to drop by 600,000 bpd each year amid lack of investment. Rafael Ramirez, who has long been a […]
What Is A ‘Fair’ Price For Oil?
What Is A ‘Fair’ Price For Oil? Last week, oil prices hit their highest level since late 2014 on the back of continued global and U.S. stockpile drawdowns and expectations that oil demand growth will stay strong this year. Analysts and officials are once again trying to predict what a ‘fair’ price for oil is […]
