{"id":64388,"date":"2022-12-06T19:43:39","date_gmt":"2022-12-07T00:43:39","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64388"},"modified":"2022-12-06T19:43:39","modified_gmt":"2022-12-07T00:43:39","slug":"zoltan-pozsar-gold-at-3600-is-not-improbable-if-us-refill-reserves-with-russian-oil","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64388","title":{"rendered":"Zoltan Pozsar: Gold At $3,600 Is Not Improbable If US Refill Reserves With Russian Oil"},"content":{"rendered":"<header id=\"masthead\" class=\"site-header clearfix \">\n<div id=\"header-text-nav-container\" class=\"clearfix\">\n<div class=\"news-bar\">\n<div class=\"inner-wrap clearfix\"><\/div>\n<\/div>\n<div id=\"site-navigation-sticky-wrapper\" class=\"sticky-wrapper is-sticky\">\n<nav id=\"site-navigation\" class=\"main-navigation clearfix\" role=\"navigation\">\n<div class=\"inner-wrap clearfix\">\n<div class=\"menu-primary-container\">\n<p><img loading=\"lazy\" decoding=\"async\" class=\"attachment-colormag-featured-image size-colormag-featured-image wp-post-image\" src=\"https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/1-13-800x445.jpg\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" srcset=\"https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/1-13-800x445.jpg 800w, https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/1-13-150x84.jpg 150w\" alt=\"\" width=\"800\" height=\"445\" \/><\/p>\n<\/div>\n<\/div>\n<\/nav>\n<\/div>\n<\/div>\n<\/header>\n<div id=\"main\" class=\"clearfix\">\n<div class=\"inner-wrap clearfix\">\n<div id=\"primary\">\n<div id=\"content\" class=\"clearfix\">\n<article id=\"post-187312\" class=\"post-187312 post type-post status-publish format-standard has-post-thumbnail hentry category-briefing category-macro category-oil tag-gold tag-oil tag-strategic-petroleum-reserve tag-zoltan-pozsar\">\n<div class=\"article-content clearfix\">\n<h3 class=\"above-entry-meta\"><a href=\"https:\/\/thedeepdive.ca\/zoltan-pozsar-gold-at-3600-is-not-improbable-if-us-refill-reserves-with-russian-oil\/\"><span style=\"color: #222222;\">Zoltan Pozsar: Gold At $3,600 Is Not Improbable If US Refill Reserves With Russian Oil<\/span><\/a><\/h3>\n<div class=\"entry-content clearfix\">\n<p>In his latest dispatch, Credit Suisse contributor Zoltan Pozsar shifted focus on his ongoing series about\u00a0<a href=\"https:\/\/thedeepdive.ca\/commodities-and-the-new-world-order-what-you-need-to-know-from-zoltan-pozsars-bretton-woods-iii\/\">Bretton Woods III<\/a>\u00a0where commodities will dictate the new world order.<\/p>\n<p>Instead, the author zeroed in on the depleting Strategic Petroleum Reserve (SPR) of the United States, posing the query of what comes next after the White House shipped its last scheduled release.<\/p>\n<p>\u201cNow that SPR releases are over, production cuts by OPEC+, re-routing [of Russian crude oil from Europe to Asia], and price caps (not to mention the risk of China re-opening due to protests), the question for the U.S, becomes what to do with the SPR? Release more? Refill?\u201d pondered Pozsar.<\/p>\n<p>Back in September, as well, US President Joe Biden\u2019s administration said it is looking at\u00a0<a href=\"https:\/\/thedeepdive.ca\/biden-administration-mulls-shoring-oil-reserves-when-prices-hit-below-us80-per-barrel\/\">refilling its oil reserves<\/a>\u00a0should crude oil prices drop below US$80 a barrel.\u00a0The prices have traversed the levels below that said mark but the White House moved the price target lower in October after it announced its plan to release 15 million barrels of oil more.<\/p>\n<p>\u201cThe Administration is announcing its intent to use SPR repurchases to add to global crude oil demand at times when the price of West Texas Intermediate (WTI) crude oil is at or below about $67 to $72 per barrel,\u201d the White House statement then read.<\/p>\n<p>After the US Department of Energy sold the last batch of crude oil from the historic SPR release, the reserves continue to bleed in the hopes of managing rising inflation and local energy prices. The current level is now below the 400-million barrel-mark, poised to hit a nearly 4-decade low.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-187324\" src=\"https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.11.46-PM.png\" sizes=\"auto, (max-width: 961px) 100vw, 961px\" srcset=\"https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.11.46-PM.png 961w, https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.11.46-PM-300x122.png 300w, https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.11.46-PM-150x61.png 150w, https:\/\/thedeepdive.ca\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.11.46-PM-768x312.png 768w\" alt=\"\" width=\"961\" height=\"391\" \/><\/figure>\n<\/div>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Zoltan Pozsar: Gold At $3,600 Is Not Improbable If US Refill Reserves With Russian Oil In his latest dispatch, Credit Suisse contributor Zoltan Pozsar shifted focus on his ongoing series about\u00a0Bretton Woods III\u00a0where commodities will dictate the new world order. Instead, the author zeroed in on the depleting Strategic Petroleum Reserve (SPR) of the United [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[33464,374,588,25704,694,9019,827,32688],"class_list":["post-64388","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-bretton-woods-3","tag-gold","tag-oil","tag-opec-2","tag-russia","tag-strategic-petroleum-reserve","tag-united-states","tag-zoltan-pozsar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64388"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64388\/revisions"}],"predecessor-version":[{"id":64389,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64388\/revisions\/64389"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}