Posted on 11/16/2022 12:24:46 PM PST by 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.”
(Excerpt) Read more at news.yahoo.com ...
Most of our electricity come from NG: Which when used to power EV’s is more than twice as efficient as an ICE engine.
Mining is not done in US: The second largest lithium mine is in the US.
And only $29,999!
Get yours today!
“And made with materials made from petroleum.”
Why do you have a problem with that?
Does sinking an oil tanker constitute a “hiccup”?
One good thing about the change in the House, Maxine Waters can’t “socialize “ the oil companies.
The fact is that OPEC was not making quota before the cuts. There is no more spare capacity. That means all the people buying cars in BRICs and the 1 percenters with the growing fleet of gigantic SUVs, Trucks, Boats, and Jets will drive up the cost. No more cheap oil. It is over.
That’s OK, we have plenty in the Permian basin!
And you may keep that crapmeister of a vehicle.
“And you may keep that crapmeister of a vehicle.”
Better than you will ever own!
Just don’t get in an accident. Might take months to get the vehicle repaired depending on how long to get the replacement parts.
I’ll see your “Inconvenient Facts” and raise you a = “Crash Course”
https://peakprosperity.com/courses/crashcourse/
and a mining study.
https://www.youtube.com/watch?v=MBVmnKuBocc
Both are very informative.
“Better than you will ever own!”
I seriously doubt that. Bet you can’t even fix your own crap vehicles.
“I seriously doubt that”
I don’t.
Not quite accurate, the US has the world’s fourth-largest lithium reserves, measured at 6.8 million tonnes according to the US Geological Survey, production activity in the country is minimal.
There was just one active US operation in 2019 – a brine-extraction project in the state of Nevada.
“Just don’t get in an accident. “
55 years accident free.
Ha... Ha... Ha.... delusional as usual.
Me: The second largest lithium mine is in the US.
Not quite accurate,
You: Not quite accurate,
The Ten Biggest Lithium Mines in the World
2 – Thacker Pass mine (USA)
“I seriously doubt that. Bet you can’t even fix your own crap vehicles.”
“Ha... Ha... Ha.... delusional as usual.”
Here is one of several discussions on whether Saudi Arabia is lying about the number of barrels they have in reserve. The upshot is, they’ll lie as long as they can because if they let a lower number of reserves stand, although it would raise the price temporarily, it would also spur the entire world to go in search of new oil and that would permanently lower the income of the Saudi state.
https://www.youtube.com/watch?v=RZvDuqhRFxM
We'll stay tuned for further developments.
Just for the record, the Thacker Pass Mine is still on the drawing boards. Not yet operational.
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