Posted on 05/10/2022 10:51:03 AM PDT by Oldeconomybuyer
RIO DE JANEIRO (Reuters) - U.S. government officials in March asked Brazil's state-run oil company Petrobras whether it could increase crude output after Russia's invasion of Ukraine sent global prices soaring, three people with knowledge of the matter told Reuters.
They came away empty-handed, the sources said.
Officials at Petrobras, formally Petroleo Brasileiro SA, said output levels were a function of business strategy rather than diplomacy and also that a significant short-term production boost would not be logistically possible, the sources said.
"We are ... doing everything possible with our allies and partners to mitigate the economic impacts of Russian actions on other economies like Brazil," a U.S. State Department spokesperson said in a statement to Reuters. "We are working with energy companies to surge their capacity to supply energy to the market, particularly as prices increase."
(Excerpt) Read more at yahoo.com ...
Yep
Industry seems to be giving the administration the biggest middle finger it can muster or it is intentionally winding down or some degrees of both. If the sheeple want EV the industry will take all the profit they can before need falls too much.
Even the big boys are not budging on CAPEX and the shalers are paying down debt while gingerly drilling just a bit more but not much.
I wonder just how much deeper the hole can get and who cares?
An article yesterday blamed diesel prices on lack of transportation by rail. That is a new one on me, I’m just not aware of that much refined product moved by rail. Around here it comes from a product pipeline to a regional terminal for truck distribution. I wonder who is behind such statements?
We are being dipped in BS. It is very hard to avoid conspiracy when an entire economy that was functioning in lock downs to suddenly fall apart 16 months into the new administration.
Begging others to do what you’re too stupid to do yourself 🤪
Anywhere except here. Because that would help us long term. They just want better numbers for November.
Doesn’t Soros have something to do with Petrobras?
They want lower fuel prices for the election from other nations so the media will not write about it and upset the enviro-weenies.
If it takes $8.00 a gallon gas to utterly destroy the Democrat party for at least the remainder of my lifetime, I’m in favor of it.
We are rapidly heading that way.
Bidet is like a homeless beggar on the streets.
“Oh bull. They were soaring before that. Nice try.”
Even NBC news questioned the administration’s Putin Position.
No one is putting Biden stickers on gas pumps anymore because it would be “stating the obvious”.
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