Trump will do the right thing and tap into the Strategic Petroleum Reserve. First time in 8 years.
More winning.
I knew something would happen. Gasoline prices broke below $2 per gallon last week here in the Ozarks...
real time global commodities prices here:
https://bit.ly/2hRdSto
Libertarian Robert J. Ringer (Looking Out For Number One author) said in the 1970s when gas prices per gallon reached a certain number the oil companies would suddenly find lots of oil reserves and the scare stories of “world will be totally out of oil by the year 2000——low energy future coming.” will end. He was right.
95% of oil supply okay and 5% cut off for a while——not an excuse for billions of dollars in price gouging.
Or to hurt President Trump’s economy for his re-election.
Follow the money. Who wins with increased oil prices?
1. Saudi Arabia
2. Russia
3. Iran (Maybe)
4. USA oil producers.
5. Other Arabian concerns.
Oh, darn it. . . and I meant to fill up today.
If Trump doesn’t strike Iran, the Iranians will up the ante again. And again. A salvo of missile attacks on Iran’s big ticket military assets, like nuclear research facilities, SAMs, airplanes and ships will have the virtue of at least reducing the amount of operational Iranian hardware. Targeting ammo dumps would have the excellent result of reducing the amount of ordnance they can funnel to their regional proxies.
https://en.wikipedia.org/wiki/Operation_Praying_Mantis
In fact, it might not be a bad idea to take out Iran’s oil production facilities, such that they are denied even the discounted revenues they get from selling contraband oil to the Chinese.
Trump released strategic oil reserves to counter the supply issue.
Trump: “Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount sufficient to keep the markets well-supplied. I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.
Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!”
Just went to fill up the car. Paid $2.42/gal. It will be $2.89 by noon tomorrow.
Here is a little trick to get around that.
Use google to search the headline. You should get a search result for this article. Click on the google link and you will get the full article.
For some reason, the site lets google search referrals in for free.
More fracking, please.
JoMa
Yay! Now there can be a recession and we can blame it on Trump! Oh, joy!
Trump says US ‘locked and loaded’ after attack on Saudi oil supply
https://www.cnbc.com/2019/09/15/trump-says-us-is-locked-and-loaded-after-attack-on-saudi-oil-supply.html
https://en.wikipedia.org/wiki/Operation_Praying_Mantis
These are oil futures prices. They are based on what traders think the oil supply and demand will be in a few months. They may be right, or they may turn out to be wrong.
The damage will be worked around — production will be back to normal quickly, if the Saudis want it of be back to normal.\
Some speculators will lose their shirts, others will make a killing.
As other countries increase the use of fracking, there will be a world wide glut of oil and gas.
Our oil producers will up their output. They don’t want the President to use the reserve to lower prices. Illogical.
Pretty much a push for the US these days, now that we’re virtually not importing oil anymore.
California gas prices will jump the most of anywhere. Those people are pissed, guaranteed! I bet that low grade tops $5/gal. That said, the gasoline company consortium of Tesoro, Chevron, and Valero are raking in cash.
G_d I’m glad to be out of there!