SLOW JOE MILESTONES

And don’t expect this to work its self out soon. US oil companies are making up every excuse they can as to why they are not drilling and fracking shale and will never admit that in the end shale was a colossal commercial failure. Between 2012 – 2018 the oil industry saw around USD $280 billion pumped into it for mostly domestic shale development and simultaneously watched about USD $160 billion of that investment evaporate in losses and bankruptcy. It was the greatest mis-allocation of capital the oil industry has ever experienced. Despite high oil prices the industry is painted into a corner and faces a classical “Prisoner’s Dilemma” – if one company begins to drill and frack to a large extent, then all companies will pile in and do the same. But when they all pile in at the same time they drive up the cost of services and supplies to the point where although the oil prices are high their profit margins dry up with these increased costs. The reality on the ground is that shale is shit and that is the real reason why the rig count is not going up.

There have also been no new oil refinery built in the USA since 1976 and some that sill operate were commissioned in the 1930s and 1940s. Many have been taken off line – Philadelphia Energy Solutions refinery blew up in 2019 (335,000 bopd), Shell last year shut down its Convent refinery outside New Orleans (211,000 bopd), Marathon shut down its Martinez California refinery last year (166,000 bopd), LyondellBassell recently announced it will shut down its Houston refinery in 2023 (268,000 bopd), and on and on.

And don’t expect OPEC to open the spigots – years of swing production have led to mismanagement of the giant reservoirs like Ghawar and the vast majority of the Saudi undeveloped field are very low permeability carbonates which would require thousands of wells each to sustain production levels. Opec “reserves” are also a sham as production is allocated within the cartel based upon reserves so there is great motivation to cook the books. The one guy who pointed this out – Houston based oil analyst Matt Simmons who wrote Twilight in the Desert – ended up “Died Suddenly and Unexpectedly” back in 2010 and since then no one has breached the subject.

We do live in interesting times. But M. King Hubbert – the father of the Peak Oil theory – concluded in his seminal works that as the world ran out of oil it would back-fill this energy demand gaps with coal and nuclear, both of which have been cut off by the WEF and their Global Warming minions in governments around the world. There is energy available for several hundred years in the form of coal, uranium, and thorium. That is why we have the global warming scam – to block off this escape valve and to effect world depopulation.

And that is why they are going after our guns – so we can’t fight back as the WEF kills us and drives those of us remaining into abject poverty. Rubicon Day is soon approaching. IQ Test is over. Test of Resolve up next after November rigged elections.

Folks,with all the good news you all posted lets remember tonight on prime time we have the diseased orifices and their Jan. 6 lie fest on national tv,so…..get your favorite beverage and popcorn ready not for tonights shiffty lies(see what I did there)but the comedic gold that comes from this nonsense!

Here is my ready response to this…….:

Gonna be interesting. The FED is losing its grip.