Posted on 11/19/2021 10:34:23 AM PST by Sequoyah101
Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly.
(Excerpt) Read more at worldoil.com ...
And in response OPEC turns off the spigot..........................
Trump basically was telling the Saudis to go pound sand, and in short order, Brandon screwed that up.
If they wanna do business here, you can’t violate anti trust laws. If they don’t like it, bomb them and drill our own.
I spent most of my career burning fossil fuels to make electricity. People do not have a clue where this ridiculous “net zero” mania is taking us.
For a good, unvarnished take on where “net zero” takes us, I recommend an article in American Thinker yesterday: “Won't life be so pristine and wonderful with net zero? Landfills will thrive”
Weapons grade stupidity.
OPEC will just point at the USA SickCare system and state:
“They don’t have to follow anti-trust laws or price rules, why should we?”
USA should start by forcing anti-trust and pricing laws on pharma and medical.
It takes a lifelong politician to think of something this stupid.
Bombing OPEC would be pretty difficult seeing as they have offices and facilities in many countries. Thos countires would care to have US planes bombing them. Starting WWIII over this is probably not a smart move. But they are demonRATs after all.
Just for the record, I noticed yesterday in World Oil, that Permian Basin oil production is back at record levels.
If you want to get all twitchy about prices for oil look to the traders and EIA for the data, propaganda and perception and supply level. Stocks were drawn down and now the demand is back so prices are way up. Happens every time.
The numbers for this part of our life come out every Wednesday afternoon.
https://www.eia.gov/petroleum/weekly/
Oil companies are price takers and not price makers. That chapter of being price makers ended with futures trading for oil back in the 80s. Some oil companies have tried trading futures and they are not very good at it, see Pioneer.
We are not buying much oil from OPEC, but I am sure that whoever we do have to buy it from will tell us to not buy it. Of course our Domestic producers don’t have that option.
We are not buying much oil from OPEC, but I am sure that whoever we do have to buy it from will tell us to not buy it. Of course our Domestic producers don’t have that option.
I wonder if it is really that they are stupid, rather it is one more step towards their goal to destroy the entire fossil fuel industry in the name of “saving the planet.”
There are not enough to recall the events of my misspent youth. On a beautiful cool Fall night I was accelerating my new four barrel carbureated pick-up into one of the best banked curves in our region with my favorite by my side. Gasoline was about 25 cents a gallon. I thought life didn’t get much better than that.
Not long after that OPEC shut off the taps and we waited in line for gasoline if it was our day for our turn.
I still have the truck and my favorite passenger.
This has been in the works for a while. A few years ago, the Trump admin was begging opec to produce more oil. Last year, Texas was begging them to stop producing oil. Ebb and flow.
I was about to post that OPEC is not subject to US law and regulation. As you say, they are so stupid that they will follow Jimmy Carter and go after American oil companies = gas shortages, long lines at the pump, excessive high prices: for fuel and everything!
Dear Moroons
Opec is a coalition of sovering nations. You can do nothing about them with a US law.
Oil is fungible. I am not aware of any pipeline from an OPEC member to the US refineries. Anti Trust Laws? Why not apply the income tax laws and OSHA regs against them too!
Venenzuela owns Citgo. The Saudis own Motiva which has refineries on the Gulf and Eat Coasts.
When do we use it against the High Tech Robber Barons?
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