Oil Prices! The TRUTH that nobody will tell you

[Anti Federalist]

Well, he takes an honest stab at it, but misses a few key points.

The single largest producing sector is offshore, and he does not mention any of that, or the fact that millions are spent on shoreside E and P, but billions get spent on offshore E and P.

Openly hostile administrations like the current one are like throwing ice water on a wedding couple. No sane CEO of a "major" would commit to an ultra deepwater project in the US right now, or in the foreseeable future, even if West Texas crude was selling for $300 a bbl.

That fact that he viewed ESG (Environment, Social and Government) as a "conspiracy theory" until he found out it wasn't, would suggest to me that he will not believe what the goal of the Marxist Malthusians ultimately is.

It most certainly is not a fairy tale future of of all peoples holding hands singing "It's a Small World After All" on carousels powered by sunshine and unicorn farts.

No...

You are the carbon "they" want to reduce, Mr. Morgan.

And "they" just finished a dry run with a two year man made plague to "war game" how the ChinaVirus 2.0 will play out.

Only this time, the mortality rate will be 99 percent.

You seem like a nice guy with a nice family Mr. Morgan...toughen up, for their sake, or their future will be choking plague and death.

[Anti Federalist]

Woke capitalism.

Two nations, two economies, two people.

Secession, Now!



ESG Energy Crisis: U.S. Rig Count Drops Despite Soaring Oil Prices

https://www.breitbart.com/economy/20...ng-oil-prices/

JOHN CARNEY 27 May 2022

The number of oil rigs operating in the U.S. declined by two to 574, according to oil services giant Baker Hughes.

Oil prices have risen to the highest level since the end of March, due in part because of a decline in U.S. oil inventories and an expected boost in demand for gasoline as the U.S. heads into summer. The average price for a gallon of gasoline hit an all-time high of $4.60 on Thursday.

Crude inventories fell by 3.4 million barrels in the week ended May 13, defying forecasts for a build in the oil supply Gasoline stocks fell by 4.8 million barrels, much larger than the 100,000 barrel decline expected. Last week, crude inventories fell by 2.4 million barrels and gasoline by 5.1 million. The supply contraction occurred despite a five million barrel release from the Strategic Petroleum Reserve.

The decline appears to be due to a fall in the number of offshore Louisiana rigs. The rig count in Louisianna, counting both natural gas and oil, fell by three. Texas and Oklahoma added one rig each, although it is not clear in the data if these were oil or natural gas.

Canada added total of 15 oil rigs in the week.

The Biden administration has said it wants more domestic oil production but until recently it was refusing to auction new leases for federal land. Even as the administration announced the move, however, it made clear that it had contempt for fossil fuel companies and regarded them as dangers to the public good.

The administration also hiked tax on oil and natural gas revenues from leased lands significantly, from around 12.5 percent to 18.75 percent, an unprecedented hike. No president in 100 years has undertaken such an increase.

A number of Biden’s nominees have expressed antagonism toward the fossil fuel industry, discouraging investment in the sector by making it clear what the Democratic Party’s view of it is. Last year, Biden nominated to the Federal Reserve’s top bank supervisory post a former Fed official, Sarah Bloom Raskin, who advocated using regulations to discourage banks from investing in fossil fuels. He also nominated leftwing radical academic Saule Omarova, who has also called for using bank regulation to stop investment in fossil fuels, to the Office of Comptroller of the Currency. Both nominations were defeated when moderate Democrats in the Senate balked.

Perhaps most importantly, large institutions have poured money into so-called sustainable funds that looked to environmental, social, and governance factors when making investment decisions. These funds shun fossil fuel investing. According to Deliote’s Center for Financial Services, professionally managed assets with ESG mandates swelled to $46 trillion globally in 2021, representing nearly 40 percent of all assets under management. The result of this is that it has become incredibly hard to raise funds for expanding fossil fuel production. So even oil prices above $100 a barrel are not attracting capital into the sector.

In a recent episode of Bloomberg’s Odd Lots Podcast, Goldman Sachs’ top commodities strategist describes ESG investing as “a blunt instrument that is reducing capital flows into a very critical sector.”

OPEC+ will meet next week and is expected to stick to its plan to raise its output target for July by just 432,000 barrels per day, rejecting calls from the U.S. and European nations for faster increases.

[donnay]

[A Son of Liberty]

In a few decades, perhaps a century, I hope that humanity has the intelligence to look back on this time and write it's history as one of society-wide mental derangement and rot, patently evil government and media, and utter stupidity.

This is what happens when we allow people who know nothing to be in charge of everything.

[GlennwaldSnowdenAssanged]

In a few decades, perhaps a century, I hope that humanity has the intelligence to look back on this time and write it's history as one of society-wide mental derangement and rot, patently evil government and media, and utter stupidity.

This is what happens when we allow people who know nothing to be in charge of everything.

If these times were biblical it might be Sodom and Gomorrah.

[Snowball]

Inventories ALWAYS fall in May. It's the transition month for higher fuel use and air conditioners driving consumption.

Really nothing has changed except the most important thing -- Wall Street is fully captured by the WEF crowd, and they set prices
according to their agenda. Biden leaked it. As they (our ruling class) want us to transition to their control grid, all independent combustion engines
are targeted for phase-out. It's not about the environment. It's about control.

Another example of the high-tech, software and hardware-driven Wall Street of these times is fully automated price setting of unlimited proportions.
Truly unlimited. The high-speed algorithms and bots have unlimited funds to set prices. Additionally, real money is NOT even required to set prices.
They are the market MAKERS, and the money that flows into the markets - including metals and petroleum merely follows their leads on a daily basis.
This is how, despite generationally profund inflation and debasement of the currency, silver and gold are not allowed to rise in price. They are no longer working as hedges against inflation, but the crypto -- that is... because crypto was invented by them, and they see gold and silver as adverserial to their system.

This is what the modern faux-conservative and the confused, gullible free market apologists have allowed to happen. In a free market, the uber-capitalists rise to complete power over society. We're there. Enjoy.

[Anti Globalist]

In a few decades, perhaps a century, I hope that humanity has the intelligence to look back on this time and write it's history as one of society-wide mental derangement and rot, patently evil government and media, and utter stupidity.

This is what happens when we allow people who know nothing to be in charge of everything.

I wouldn't say these people necessarily know nothing. These people know exactly what they are doing. Every "mistake" that they've made is clearly intentional and malicious in nature. They can easily do the right thing if they wanted to, but they won't because their intention is to destroy the country.

[Occam's Banana]

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