Posted on 08/03/2022 7:36:22 AM PDT by Red in Blue PA
“As a political gesture it is almost insulting,” said Raad Alkadiri, managing director for energy, climate, and sustainability at Eurasia Group.
(Excerpt) Read more at cnbc.com ...
Brent jumped $3/BL to $102. I think some were counting on a bigger increase from OPEC+
OPEC+ has said for months that they would stick to their plan, they don’t really have any choice. They can’t ramp up production anytime soon, the required investments haven’t been made. Also, the USA refineries are already running at full capacity, more oil doesn’t help if you can’t refine it.
Oil industry insiders say enjoy the current “low” price while you can, it won’t last.
What. Orally cost me $25 or so to fill up when Trump was president now costs nearly $60- had tk fill up,yesterday and could t beleive how much it was. I feel bad for folks with double gas tanks or larger tanks
Thus the ginzu strike on an old has been.
What’s pathetic here is that Biden’s recession may reduce demand thus reduce prices so he can take credit.
Under President Trump I could feed my Hemi the high octane that it needs and loves. Alas no more.
Wait, wait, wait. I thought OPEC said they had no way to produce more oil. Now this. What’s up with that?
OPEC wants Joey team to take advantage of.
“Wait, wait, wait. I thought OPEC said they had no way to produce more oil. Now this. What’s up with that?”
100k barrels a month is a drop in the bucket. This plan has been in place and public for at least a year. It’s what they can do. They have very little spare capacity and that can’t change quickly, they haven’t been investing in future production. Takes several years from investing to producing. They are smart and know exactly what they are doing.
All the time gas prices were soaring democrats blamed republicans and Russia. Now that the prices are coming down because people can’t afford to drive as much PedoJoe is standing front and center, happily taking credit for it.
Buying oil from other countries is climate control huh Moe.
Proof the climate control operation is a scam for control over the people and country.
Make the need you and you own them.
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