Here’s Why the World Will Slowly Wake Up to the Oil Deficit…

Guest Post by Chris MacIntosh

According to a recent article,

A $4 billion Panasonic electric vehicle battery factory in De Soto, Kansas, will help satisfy the Biden administration’s efforts to get everyone into an EV. It also will help extend the life of a coal-fired power plant.

Funded by subsidies from the taxpayer (misallocation of capital, here we come).

Panasonic broke ground on the facility last year. The Japanese company was slated to receive $6.8 billion from the Inflation Reduction Act, which has been pouring billions into electric vehicles and battery factories as part of its effort to transition America away from fossil fuels.

Here are some realities:

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Oil at the Crossroads: Belief or Reality?

Guest Post by Chris MacIntosh

Oil at the Crossroads

What do you do when you see the proverbial storm on the horizon? You stock up on whatever you think you’ll need which you may not be able to secure when the storm hits.

Why stock & flow matters?

In inflationary periods people stock up because they fear the loss of purchasing power. The problem with this is that at some point you run out of your supplies and you need to replenish them. How do you fix that? Well you need “flow.”

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This Little Pig Built a House Out of Straw… And Oil

Via Blue State Conservative

Since the original republic came to an end just over a century and a half ago and a single national state began (The United States as opposed to These United States, the political unit (Republicans, Democrats, Progressives, Socialists, etc.) through the government, has undertaken, with no constitutional authority, to control the two largest utilities of the people in their formerly sovereign states–which are now no more than counties. Those utilities? Farming and Energy.

Yes, the seeds were planted that long ago.

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Russia To Demand “Hostile States” Pay In Rubles For Gas

Via ZeroHedge

Putin: Don't Mess With Russia

With the ruble mostly stuck in sanctions limbo and trading around 100 to the dollar in recent days (an improvement from the USDRUB 140 hit on March 8), the Kremlin appears to have found a new way to prop up the Russian currency besides merely central bank interventions: make foreign customers of Russian gas demand it.

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The Next “Crisis”

Via Eric Peters Auto

Now that Putin Bad! Ukraine Good! has sidelined Ronamonomania, a new “crisis” is needed to deal with a real one. Rather than “rearing his head” – per Sarah Palin – Putin may do something a lot more damaging to the people who gave us Ronamonomania and who are desperately trying to get us to forget it, via Putin Bad! Ukraine Good!

Ready?

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Doug Casey on Speculative Opportunities in Oil You Can Take Advantage of Today

Via International Man

speculative potential

International Man: Oil is one of the most political—and politically incorrect—of all the commodities.

That makes the oil market fertile ground for the speculator, who looks to take advantage of politically caused distortions in the market.

What is your take on the speculative potential of oil in general?

Doug Casey: I like to look at these things first from a historical point of view.

When it comes to energy, mankind has progressed from human muscles, to animal muscles, to wood, to coal, oil, and nuclear power. The sun, water, and wind have played supporting roles along the way.

For unfortunate political reasons, nuclear only plays a minor role in energy generation today. It should dominate everything because it’s a quantum leap, orders of magnitude above previous sources of energy. As I discussed last week, nuclear is by far the safest, cleanest, and cheapest form of mass power generation. But “progressive”—odd they should have adopted that word—political forces hate it. They also have a long-standing visceral hatred for coal, the power source that enabled mankind to emerge from preindustrial drudgery.

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THIS DAY IN HISTORY – Gusher signals start of U.S. oil industry – 1901

Via History.com

On January 10, 1901, a drilling derrick at Spindletop Hill near Beaumont, Texas, produces an enormous gusher of crude oil, coating the landscape for hundreds of feet and signaling the advent of the American oil industry. The geyser was discovered at a depth of over 1,000 feet, flowed at an initial rate of approximately 100,000 barrels a day and took nine days to cap.

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America finally found the lost City of Gold

Guest Post by Simon Black

In the early 1530s, a Spanish conquistador named Diego de Ordaz was exploring modern-day Venezuela when he first heard rumors of a nearby City of Gold.

Ordaz thought he was about to hit the jackpot. And he wasted no time ordering expeditions of the area to find this city– what eventually became known as El Dorado.

The mission failed, and most of Ordaz’s men died. But one survivor, a crewman named Juan Martinez, claimed that he had been captured and held prisoner for 10 years in El Dorado.

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P FOR PANDEMIC

“People should not be afraid of their governments. Governments should be afraid of their people.” – Alan Moore – V for Vendetta

Coronavirus is close to becoming a pandemic, WHO warns - The ...

“Authority, when first detecting chaos at its heels, will entertain the vilest schemes to save its orderly facade.” – Alan Moore – V for Vendetta

I wrote an article called V for Vendetta – 2011 just over nine years ago on the day after the Tucson shooting where congresswoman Gabrielle Giffords and eighteen others were shot by a psychologically disturbed lunatic, with six dying. At the time, I thought of the scene from the V for Vendetta movie where someone did something stupid and all hell broke loose. I expected a similar result from this act, but those in control of our society were successfully able to put a cork in the bottle, preserving their façade of order.

We learned shortly thereafter, through the patriotic efforts of Edward Snowden and Julian Assange, how the government was using the vilest of schemes to surveil every American through their abuse of the Patriot Act. The government has become an enemy of the people.

The Immelman Turn » Blog Archive » Giffords Assassination Attempt

It is interesting to go back and view my conclusion from nine years ago and assess its accuracy as of today:

“This country has not reached the level of control and fear seen in Orwell’s 1984 and V for Vendetta, yet. We are moving relentlessly in that direction. Surveillance, monitoring, spying, censorship, secret prisons, predator drones, and conforming to state rules and regulations put citizens further under the thumb of an all-powerful state. The freedom to dissent, the freedom to be left alone, the freedom to speak out against injustice, the freedom to disagree with your government, and the freedom to present your ideas without fear of retribution or penalty are essential in a democratic society.

The next phase of this Fourth Turning will surely include another downward spiral in financial markets as un-payable debts accumulate to a tipping point level. When ATM machines stop spitting out twenties, food shelves are bare and gas stations are shuttered, social chaos will ensue. The government will react with further command and control measures. In V For Vendetta, the government creates a terrorist incident in order to gain unquestioned control over the population. Americans will need to be more vigilant than they have been over the last ten years in keeping an eye on their government.”

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2020 – YEAR OF LIVING DANGEROUSLY (PART TWO)

In Part One of this article I detailed my inability to predict the timing of events during this Fourth Turning, while maintaining the catalysts of debt, civic decay, and global disorder continue to drive the world towards a cliff.

Image result for constitutional crisis 2020"

“Every schoolchild will know what happened next, from the Oh-Ohs to the 2020s, as the Fourth Turning unfolded—but academics will surely debate how and why it came to pass. In his history, this great-great-grandson of today’s baby girl will reflect on what the Fourth Turning came to mean for his own time and generation. His history is not yet written. What will it be?”Strauss & Howe

The Trump team is now poised to go on the offensive as this Constitutional crisis intensifies and hurtles towards a violent conclusion. Barr and Durham are busy building a case against the Obama administration and their illegal activities before and after the election. As the election approaches and Durham concludes his investigation, indictments handed down on Clapper, Brennan, Comey or any of the other conspirators would lead to turmoil not seen since the Civil War. No matter the result of the upcoming election, neither side will accept the outcome.

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Oil prices skyrocket, stock futures sink after top Iranian general killed by U.S. airstrike

Via Marketwatch

Crude oil prices skyrocketed and U.S. stock market futures fell on Thursday night following news that a top Iranian general and an Iraqi militia’s deputy commander were killed in a U.S. airstrike at Baghdad’s airport.

The Associated Press reported an airstrike killed Gen. Qassem Soleimani, head of Iran’s elite Quds Force and architect of its regional security apparatus. Also killed was Abu Mahdi al-Muhandis, deputy commander of Iran-backed militias in Iraq known as the Popular Mobilization Forces, or PMF, and at least five other people.

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We’re Ready For “Full-Fledged” War: Iran Responds To US Accusation It Launched Saudi Oil Attack

Via ZeroHedge

After the United States was quick to point the finger at Iran for the early Saturday explosions that rocked Abqaiq facility and the Khurais field — forcing production to be shut and with it 5.7 million barrels a day of oil production lost — Iran has warned it stands ready for a “full-fledged” war.

Iranian foreign ministry spokesman Abbas Mousavi slammed Washington for a “maximum pressure” strategy that has turned to “maximum lies,” saying that because of the former’s “failure [the US] is leaning toward maximum lies”. FM Javad Zarif also said these were a continuation of efforts to pressure and shame into compliance under US hegemony.

Screengrab from video showing fires raging at Abqaiq facility on Saturday.

Iran denied the accusations, which followed photos circulating online which appeared to show cruise missile debris scattered in the Saudi desert outside the incapacitated oil facilities. Yemen’s Houthi forces had claimed responsibility, saying it deployed ten drones in the successful targeting of the facilities.

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Iran Threatens To Close Strait Of Hormuz If US Blocks Its Oil Exports

Via ZeroHedge

With oil surging to a six month high after a now confirmed report that Trump will not reissue Iranian oil export waivers after they expire on May 2, removing up to 1 million barrels from the market…

https://www.zerohedge.com/s3/files/inline-images/iran%20oil%20exports%202.jpg?itok=NApvN52H

… Tehran has gone on the offensive and on Monday a senior Iranian military official said the Islamic Republic will close the Strait of Hormuz if it’s prevented from using it, the state-run Fars news agency reported.

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The Countries With the Most Oil Reserves

If you were wondering why Trump is attempting a coup in Venezuela, look no further.

Via Visual Capitalist

Map: The Countries With the Most Oil Reserves

Map: The Countries With the Most Oil Reserves

There’s little doubt that renewable energy sources will play a strategic role in powering the global economy of the future.

But for now, crude oil is still the undisputed heavyweight champion of the energy world.

In 2018, we consumed more oil than any prior year in history – about 99.3 million barrels per day on a global basis. This number is projected to rise again in 2019 to 100.8 million barrels per day.

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The Slippage Continues – India Resists Trump On Everything

Guest Post by Tom Luongo

With the U.S.’s attempt at regime change in Venezuela going nowhere fast it’s becoming increasingly obvious that major vassals allies aren’t scared of the consequences of defying us.

India, in particular, has been quite clear in its opposition to Trump’s edicts on who they can and cannot trade with. And with Prime Minister Narendra Modi reeling from a corruption scandal it’s clear he isn’t going to give Trump an inch on important trade issues, especially with Modi in full re-election mode.

Not only has India defied the U.S. over buying Iranian oil and Russian S-400 missile defense systems but now they continue to flaunt U.S. sanctions on Venezuela upping its purchases from 400,000 barrels per day to more than 600,000.

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IRANIAN THREAT

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