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Another Loss for the US: Japan Breaks with Western Allies, Buys Russian Oil at Prices Above Cap

Discussion in 'Too Hot for Swamp Gas' started by Gatorrick22, Apr 3, 2023.

  1. Gatorrick22

    Gatorrick22 GC Hall of Fame

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    Be careful what you say. The alternative "reset" will be one vile cesspool of criminal debauchery and murder.
     
  2. okeechobee

    okeechobee GC Hall of Fame

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    The total worldwide demand for oil is higher today than it’s ever been before, so showing a stat that says more oil is being produced under Joe Biden than any other President doesn’t prove that he isn’t hostile towards big oil. It just proves big oil is keeping up with the increased demand, because there is money to be made, in spite of Joe Biden.

    @gatorpa anyone in denial that Joe Biden has been hostile to oil companies isn’t worth debating, as they’re being willfully dishonest.
     
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  3. gatorpa

    gatorpa GC Hall of Fame

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    OMG
    Talk about moving goal posts and cherry picking data points.

    Just stop it, do I need to link all the speeches where Biden ripped big oil, and fracking during his campaign?

    Where did I post that’s it’s “ handicapped” under Biden?
    Yes I argued months ago that Big oil hasn’t spent money to explore and increase production because Biden has portrayed himself as anti Fossil Fuels.

    The Fossil Fuel industry has ignored him and ramped back up because the demand is there and they will keep doing it in spite of Biden, not because he is doing something to help enhance their business.

    Fact remains he asked OPEC to increase production about 9 months ago the laughed at him and now they cut it.

    Sure seems like a big middle finger to your king.
     
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  4. gatorpa

    gatorpa GC Hall of Fame

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    And the fact is the current US production has not passed the peak production which occurred in Feb of 2020. It is projected to pass it and it may do that, only because the price is so high as demand is high and Russia has had their ability to sell curtailed by the “embargo”.

    Wait and see 4-5 dollar gas again this summer, then you will see the Dems screaming about the oil companies raping us.
     
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  5. citygator

    citygator VIP Member

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    Whine all you want. The oil industry is flourishing despite the fear mongering about what Biden secretly “wants” to do to big oil from the right. Fracking still legal? Yep. Democrats are looking at long term incentives to drive more environmentally friendly energy solutions. Somehow that turns into righties posting about hating oil and banning fracking. Your warnings were wrong. You just won’t admit it.
     
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  6. gatorpa

    gatorpa GC Hall of Fame

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    It’s no secret, plenty of video in his “own” words.
     
  7. citygator

    citygator VIP Member

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    You’ve yet to cite a single negative consequence. Just moaning about Biden. Moan away.
     
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  8. G8trGr8t

    G8trGr8t Premium Member

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    KSA didn't increase because supply was sufficient. It is why oil retreated to $75 and was struggling to hold that price. Why would KSA want to increase and push price further down?

    Not buying @ $75 to refill the SPR was a big middle finger to KSA. That was stupid decision by someone
     
  9. gatorpa

    gatorpa GC Hall of Fame

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    What was really stupid was to not buy it when it was $20/barrel.

    And you’re right KSA isn’t going to do too much to crash their own prices but now they decide to cut and drive prices even higher.

    Fed has some big decisions to make as higher energy prices will make it harder to stomp down inflation.

    Likely they over shoot just in time for 2024. That lagging effect always gets them.
     
  10. Gatorrick22

    Gatorrick22 GC Hall of Fame

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    Maybe there's some good news coming? But the fact that Biden's administration is making hard to get drilling permits is interesting. I wonder how this plays out.

    I agree with you. Biden taking any credit for oil production is just rich. I wonder if private land in North Dakota and other oil drilling states need federal approval to drill for oil. They do on federal lands.

    Judge orders U.S. to resume oil lease sales in North Dakota

    Well Permitting




    I also had no idea that these were the TOP oil drilling states in the U.S.A..

    Top 6 Oil-Producing States
     
    Last edited: Apr 8, 2023
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  11. Sohogator

    Sohogator GC Hall of Fame

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    You seem to think SA is an ally. They’re not they’re an implacable enemy whom we have almost no recourse with. Israel is another example of a shitty ally marginally better than SA who cooperates with us only when it suits them. We picked the wrong horse in the ME should have gone with Iran. Everything else you‘ve posted in this thread is tripe, buttressed by a complete lack of understanding of what you’re talking about
     
    Last edited: Apr 8, 2023
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  12. Sohogator

    Sohogator GC Hall of Fame

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    OMG you’re posting the same stupid stuff that Rick did. Are you the same poster?

    see post 135

    “Oil futures went negative. Why exactly do you think that was and given that fact what if anything (hint) could we have done?”
     
  13. gatorpa

    gatorpa GC Hall of Fame

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    Yeah we should have picked Iran..

    And you say what I posted here is tripe.

    It’s based on facts plain and simple.
     
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  14. gatorpa

    gatorpa GC Hall of Fame

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    Oil futures went negative because the COVID shutdowns cause future demand to plummet. At that point is was going to cost more to store it than sell what was being produced.
    What we could have done was get OPEC to cut production (Trump did and was mocked by some here), and we could have filled the SPR to the roof. Knowing that eventually oil would be back over $50 or more. Which it did.

    BTW some of the middle left leaning posters who aren’t blindly partisan and understand a bit about this have agreed with me here.

    Do you have anything useful to add to the discussion or are you just here to throw out insults?
     
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  15. Sohogator

    Sohogator GC Hall of Fame

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    incorrect! Again! it went negative because there was no place to store it. Tankers full lots of them were drifting all over the oceans. We were full up until production marched demand.

    edit to add why was the bold part of your post the same as Ricks? Are you hus sock or just reading the same batshit drivel?
     
    Last edited: Apr 9, 2023
  16. oragator1

    oragator1 Premium Member

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  17. Gatorrick22

    Gatorrick22 GC Hall of Fame

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    Now the French suggest that Europe should reduce it's dependency on the U.S. Dollar. WTH is the Biden administration doing to all of our foreign allies? Why re they saying they want to dump the U.S. Dollar?


    Xi and the Chinese Communist Party (CCP) have backed Macron’s “strategic autonomy” concept, as CCP officials often refer to it when meeting with other European officials.

    “The paradox would be that, overcome with panic, we believe we are just America’s followers,” Macron said in the interview, published on April 9. “Is it in our interest to accelerate [a crisis] on Taiwan? No. The worse thing would be to think that we Europeans must become followers on this topic and take our cue from the U.S. agenda and a Chinese overreaction.”

    China began military drills around Taiwan on April 8 after the island nation’s president, Tsai Ing-wen, met with U.S. House Speaker Kevin McCarthy (R-Calif.) on April 5. China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taiwan’s government strongly objects to China’s claims.



    Macron Says Europe Should Reduce Dependence on US Dollar After Meeting With China's Xi
     
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  18. Gatorrick22

    Gatorrick22 GC Hall of Fame

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    Here is a great Oped on the "de-dollarization."


    There are so many moving parts it's extremely convoluted. But it all makes sense. It's a good read if you have 25 minutes to invest. Here is an excerpt below about the IMF/banking side of the Ukraine.... and it's how we are doing "business" with other countries of the world. This is no way to do legitimate business.



    Obviously there’s no way that Ukraine can pay. The US government has said, — Well we’re holding the $300 billion that we’d illegally grabbed from Russia. Not illegally — we make the laws! The rest of the world may call it illegal. International law may call it illegal. But when America does it it’s not illegal.

    That’s why President Nixon said, — When the president does it, it’s not a crime.

    Well, when America does something against international law, it’s not illegal because we are the only democracy in the world’s essential country.

    I think Russia will say, ultimately, Ukraine’s going to be divided. Eastern and southern Ukraine just to the west of Odessa is all going to be a part of Russia. So I think Russia will probably smile and say, — Well actually we are willing to spend the $300 billion dollars to rebuild Ukraine. We’re going to build the part of Ukraine that, since 2008, has been systematically bombed and under attack, and now is under attack by Ukrainians focusing on hospitals, on civilian centers.



    Considering the Collapse of Antiquity and the Bank Panic
     
    Last edited: Apr 10, 2023
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  19. citygator

    citygator VIP Member

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  20. Gatorrick22

    Gatorrick22 GC Hall of Fame

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    I suppose this will not hurt the dollar either? You Leftists know that the American government is about to go full retard, and they are going to invent an excuse to start a war.

    Nope... nothing to see here. I wonder if their made that some, not naming anyone cut Europe's pipeline to their Russian natural gas? Maybe there's more to it that is in this article. So if WWIII breaks out, can the survivors please take out all the instigators of this war... in all governments around the world.



    Poland's prime minister: France favors 'severing the ties' with US


    French President Emmanuel Macron favors “shifting the center of European gravity towards China,” according to Polish Prime Minister Mateusz Morawiecki.

    “I do not quite understand the concept of strategic autonomy if it means de facto shooting into our own knee,” Morawiecki said Thursday. “European autonomy sounds fancy, doesn't it? But it means shifting the center of European gravity towards China and severing the ties with [the] U.S.”


    Morawiecki did not identify Macron by name, but the reference to the French leader’s signature “strategic autonomy” concept made the rebuke unmistakable. And it punctuated a wider denunciation of traditional powers of Western Europe, which he characterized as feckless in the face of threats from Russia and China.

    “They want a quick ceasefire — armistice in Ukraine — almost at any price. Maybe not all of them, but there are politicians in Western Europe who think so ... ’Ceasefire at any at any price. The sooner the better, as quickly as possible, Ukraine. Why are you fighting so bravely?’” Morawiecki said at the Atlantic Council. “They want also [to ensure] that the selling of high-margin products to China continues. The wake-up call with regard to China is very, very soft — very weak in Europe across the European Union.”


    Poland's prime minister: France favors 'severing the ties' with US