‘The world should be worried’: Saudi Aramco — the world’s largest oil producer — has issued a dire warning over 'extremely low' capacity.

MoneyWise via Yahoo ^ | November 16, 2022 | By Jing Pan

[Oldeconomybuyer]

The global oil market remains tight according to Saudi Aramco, the largest oil producer in the world. And that does not bode well for a world that still relies heavily on fossil fuels.

“Today there is spare capacity that is extremely low,” Saudi Aramco CEO Amin Nasser says at a conference in London. “If China opens up, [the] economy starts improving or the aviation industry starts asking for more jet fuel, you will erode this spare capacity.”

Nasser warns that oil prices could quickly spike — again.

“When you erode that spare capacity the world should be worried. There will be no space for any hiccup — any interruption, any unforeseen events anywhere around the world.”

[SGCOS]

..There will be no space for any hiccup — any interruption, any unforeseen events anywhere around the world.”

floating a balloon and setting expectations..

[monkeyshine]

Any kind of threat, or breakdown, to Saudi infrastructure could send oil spiking tens of dollars. With all the political trouble in Iran (and I read they just sank an Israeli oil tanker) and their Yemeni rebel allies it is a precarious situation that few are paying close attention.

[PGR88]

No worries. Klaus Schwab just told the G20 about their wonderful clean/green future.

[Tolerance Sucks Rocks]

Schlong-heads cut production, then whine about low supplies.

[packagingguy]

Ha! Ha!

See ya later Saudis!

We have windmills and solar panels to charge our new electric fleet of...oh wait, never mind.

[Jim Robinson]

Drill, baby, drill!

[frogjerk]

Brandon sends his love to all Americans in his very special way.

[Bonemaker]

“And that does not bode well for a world that still relies heavily on fossil fuels.”

Still? STILL? The world will be relying on it in perpetuity!

[BuckeyeGOP]

all together now:

blow...baby...blow

[Bonemaker]

Not to worry. Biden is ensuring our energy independence. Oh wait.

[2nd Amendment]

Just get your 300 mile long extension cord and your tonka toy car

[cuban leaf]

The US will be fine - unless we ship it to others.

[Bonemaker]

"Any kind of threat, or breakdown, to Saudi infrastructure could send oil spiking tens of dollars."

[TexasGator]

“floating a balloon and setting expectations..”

Stating reality.

[cuban leaf]

I highly recommend this Stossel two parter on EV’s. Part two just came out yesterday.

Part one: https://www.youtube.com/watch?v=z2HneqfZGsM
Part two: https://www.youtube.com/watch?v=ptI6BRVC1Kw

[TexasGator]

"Just get your 300 mile long extension cord and your tonka toy car"

620 mile range, 0-60 1.8 secs, Quarter mile 8.2 secs, Top Speed greater than 250 mph. Seats 4

[RushingWater]

The US will be fine - unless we ship it to others.

Part of our current problem now in US.

Diesel Hits Record Premium Over Gas, Oil

From article:

But the U.S. still produced 200 million barrels more diesel in 2021 than it consumed. The current domestic deficit is driven largely by exports, particularly to Europe, where it often fetches higher prices. Legal restrictions on the types of ships that can shuttle fuel between locations in the U.S. add costs that encourage selling overseas.

“The Gulf Coast is not selling it to Philadelphia or New York,” says Mr. Morse. “They’re selling it to Amsterdam and Rotterdam.”

[kaktuskid]

And made with materials made from petroleum.

[logi_cal869]

Lessee...how many weeks ago did these ragheads cut back production by 2 million barrels/day?

Yeah.