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Our Energy and Debt Predicament in 2019
Our Energy and Debt Predicament in 2019 Many people are concerned that we have an oil problem. Or they are concerned about recession and the need to lower interest rates. As I see the situation, we have a problem of a networked economy that is not functioning well. A big part of this problem is energy-related. […]
BP Is The Latest Major Oil Company To Shutter Operations In Alaska
BP Is The Latest Major Oil Company To Shutter Operations In Alaska Yet another major oil company has backed away from one of the frontier oil discoveries of the late 20th century that not only cushioned them from OPEC, but helped them learn to drill in some of the most difficult areas of the globe. After […]
Debunking ‘Lower Oil Supply Will Raise Prices’
Debunking ‘Lower Oil Supply Will Raise Prices’ We often hear the statement, “When oil supply is lower, oil prices will rise because of scarcity.” Now, we are getting to see firsthand whether oil prices really do rise, as oil supplies become more scarce. Figure 1 shows that world oil supply hit a peak in November 2018 […]
OPEC’s Fight To End The Oil Glut Is Far From Over
OPEC’s Fight To End The Oil Glut Is Far From Over OPEC and its Russia-led non-OPEC allies are in their third year of managing supply to the market, hoping to draw down high inventories and push up oil prices. Early this month, the so-called OPEC+ coalition of partners rolled over their production cuts of a combined 1.8 […]
OPEC Collapse Likely, Warns Iran’s Oil Minister
OPEC Collapse Likely, Warns Iran’s Oil Minister Iran has warned that OPEC might “collapse” due to the “unilateral actions” by some of its members, in a clear jab at Saudi Arabia. “Iran is a member of OPEC because of its interests, and if other members of OPEC seek to threaten Iran or endanger its interests, Iran will not remain […]
A New Mega Cartel Is Emerging In Oil Markets
A New Mega Cartel Is Emerging In Oil Markets China and India—two of the world’s largest oil importers and the biggest demand growth centers globally—are close to setting up an oil buyers’ club to have a say in the pricing and sourcing of crude oil amid OPEC’s cuts and U.S. sanctions on Iran and Venezuela, […]
Why An OPEC Oil Supply Surge Won’t Happen
Why An OPEC Oil Supply Surge Won’t Happen The end of the Iranian sanction waivers by the Trump Administration has put oil traders on edge. While most analysts are optimistic about OPEC leader Saudi Arabia being able to fill the gap left by lower Iranian oil exports, reality could be totally different. Looking at the […]
Saudi Oil Minister: We Won’t Ramp Up Oil Production Soon
Saudi Oil Minister: We Won’t Ramp Up Oil Production Soon Saudi Arabia plans to stay within the limits of its ceiling under the OPEC+ production cut deal in May and will certainly not rush to ramp up production, although it would respond to customer needs if they want more oil, Saudi Energy Minister Khalid al-Falih said on […]
Platts Survey: OPEC Oil Production Down To More Than 4-Year Low
Platts Survey: OPEC Oil Production Down To More Than 4-Year Low Over-delivering Saudi Arabia and blackouts in Venezuela helped push OPEC’s crude oil production down by 570,000 bpd from February to 30.23 million bpd in March—the lowest production from the cartel in more than four years, according to the monthly S&P Global Platts survey published on Friday. […]
The Ultimate Pivot: Saudi Betrayal of the Petrodollar
The Ultimate Pivot: Saudi Betrayal of the Petrodollar Saudi Arabia has gone nuclear, threatening the petrodollar. Or has it? The report from Zerohedge via Reuters that Saudi Arabia is angry with the U.S. for considering a bill exposing OPEC to U.S. antitrust law is a trial balloon. The chances of the U.S. bill known as NOPEC coming […]
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015
Reuters: OPEC’s Oil Production Drops To Lowest Since 2015 OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela continued to struggle amid U.S. sanctions and a major blackout, the monthly Reuters survey showed on Monday. The […]
Luke Gromen–Oil Cartel Siding With China Can Destabilize The Petrodollar
LUKE GROMEN – OIL CARTEL SIDING WITH CHINA CAN DESTABILIZE THE PETRODOLLAR SBTV picks the mind of Luke Gromen, founder of Forest For The Trees LLC, about an impending dollar crisis and what likely scenarios can destabilize the petrodollar in the coming years. We also asked him what his ideal monetary system would be if he got […]
