Posted on 04/29/2019 4:02:29 PM PDT by bananaman22
Albert Einstein once wrote that “the definition of insanity is doing the same thing over and over again and expecting different results.” Were he alive today, he would be repeating the line to anyone who would listen, especially the reporters on cable news channels such as CNBC. He might add that the world’s policymakers always approach oil market disruptions in the same way: predicting there will be no impact on prices.
Einstein would then point out that the policymakers are consistently wrong. A hefty price boost has followed every disruption.
The world has experienced nineteen oil market disruptions over the last forty years. In a paper published in March 2018, I chronicled these events and noted that the maximum price increase was predictable. Last Monday, Secretary of State Mike Pompeo initiated the twentieth disruption. The consequences are projected here.
(Excerpt) Read more at oilprice.com ...
Lol - you won’t believe #16 - click here!
OMGOMGOMG! We’re out of oil!!!!! Oh noes! Oh. Never mind.
Yes. Click bait language.
I do want to know why gas prices have gone up so much in a matter of weeks.
The more oil you produce yourself, the less “disruptions” matter to you. In fact, if you are a producer, high prices are good. More investment, more projects, more people working. And all that flows from that,
I think it is because we sanctioned anyone buying oil from Iran.
Refinery problems; shortage of ethanol due to flooding in the Midwest; change to summer fuel blends that require more oil
Counting the oil from Canada the US is oil independent. This was not the case until recently. Those prior disruptions were because we were not drilling enough here to satisfy domestic needs. We are also a large exporter of natural gas.
Yes, the price of gas has gone up recently. It always does that at the beginning of summer.
... greed ...
The findings from the model indicate that the current disruption will likely cause prices to increase sixty-six percent at their peak. Roughly speaking, Brent will rise to between $114 and $126 per barrel.
Thanks.
It is an unusually sharp and fast increase.
From my understanding - it’s a combination of switching to the “summer” gas which has few reserves along with some refinery shutdowns so there are few reserves of the summer gas - kicking up the price.
Now part of this is also because the companies CAN artificially reduce supply and get some bonus cash. Government like this too because it increases the taxes they get. It’s a “win win” all around - for them.
Don’t forget “Peak Oil”
PEAK OIL!!!! Is back?
one word “Speculation” this article is written for no other reason than to fuel the fire.
You’ll be shocked by how she looks like now!
No disruption to speak of...it is already crawling back down ....a brief hiccup nothing more . How soon the media glosses over the HUGE finds within the last 12 months and they never get into the true nature of how this beautiful planet God made will always make more...carbon is carbon is carbon....
I was peaking at a spot under my truck. I thought. Shiny spider.
Paid 2.29 in Covington Louisiana today...Iran is getting squeezed and rightly so.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.