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US oil industry MOCKS Biden after OPEC announced production cuts: Energy groups say administration now has no choice but to come 'crawling back' to domestic producers

 

* US oil industry trade groups lashed out at the White House after OPEC cutbacks

* With gas already painfully high, OPEC is slashing output by 2M barrels per day

* 'Life comes at you pretty fast,' tweeted the US Oil and Gas Association

* US producers say the Biden administration has smothered domestic production

* Now they say the White House has no choice but to boost output in the US 

 

https://www.dailymail.co.uk/news/article-11285801/US-oil-industry-says-Biden-boost-domestic-output-OPEC-cuts.html

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U.S. cannot be close to Iran (at the moment), but it has nothing to do with the mumbo jumbo posted here by the Westerners about Iran interefering in the region etc. Everyone intefers with everyone in the middle east. If you do not know that or dispute that, that means you do not know anything. You only survive by fighting tomorrow' war outside your borders, before it gets into your borders. In that regard Iran is no different than Israel, Turkey, UAE, Saudi Arabia, and the mother of all spoliers : the United States of America.

 

Saudi Arabia launched a full scale of war against Yemen, same as Moscow did with Ukraine. There is no shortage of reports of schools and hospitals being bombed by the Saudis (for those who actually have eyes & interest). That is called terrorism. The Saudi Air Force was systematically supplied and refueld by the U.S. CENTCOM. What does that make the United States => a state sponsering terrorism ? 

 

It just happens to be U.S. and Iran are not on the same page. Iran' revolutionary regime wants to expand its influence and that comes head to head with other power brokers, expanding their own view. Turkey and Saudi are at much in comeptition as Iran is with the Saudi. Specifically on Iran's regime, they draw their power from isolation, and draw their legitimecy and brand from it. So, naturally as long as the bearded elders are alive in Tehran, that rapproachment will take time. 

 

The 1979 revolution that brought us this regime was not an islamic revolution. It was just a revolution with many stakeholders who opposed the Shah. It was the Iran-Iraq war, very much sponsered by the West, that really helped solidify the regime control in Tehran. The decades long sanctions gave new life and power to the revolutionary guards. Isolation has been the source of power.

 

On 9/11, if it suited Washington to draw distinction between Saudi goverment and the 9/11 hijackers they would have. It served no purposes and it did not suit them, rather they went with the Iraqi idea and capitalize on it and as it happens the American population just needs a little "nudge" and they fall in line with the narrative-of-the-day.

 

Seriously, how can Bush go head to head with one his best friend, the Saudi ambassaor in Washington. (rhetorical question - no answer is required)

 

Now, if half of this forum are brainwashed posters who cannot understand these things and prefer a cartoonish bad-guy-good-guy point of view. So be it. At least keep the discussion outside geopolitics and stick to the subject in the thread: Energy.

 

---------------

Maybe that is too much for you guys in one day. But do i need to add that Iran was a democracy in the 1950s and that democracy was overthrown in a coup, paving way for the Shah returning as a absolute monarch, and the counter-revolution to it in 1979.

 

Guess who were the main sponsers behind that coup that ended a democracy in Iran which has brought us all this misery:  it was known as "Operation Ajax" at the CIA and "Operatio Boot" in the MI6. Hopefully you can guess the countries.

 

1953 Iranian coup d'état - Wikipedia

 

 

 

 

 

 

 

 

 

 

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6 hours ago, Gregmal said:

Yea it’s 100% a foolproof way to constantly end up massively overpaying. Imagine approaching the stock market like that? Or buying a house? Hmmm, I ran a Google search on that guy and didn’t really like what I found so I don’t think I’ll be proceeding with my home purchase sir. Then add in all the money we are giving away to Ukraine and it’s like gee, hurray government spending. Let’s bust inflation!

That is exactly what I am doing. If I don’t like the counter party, I don’t deal with them, especially when it’s a private transaction.

 

I have actually had this happen more than once. Was bidding on a house and got the impression that the owner were jerks and just moved on. Same buying cars at a dealer or from private or anything else for that matter. Dealing with jerks or scumbags is not worth the aggravation even if the deal seems good. Just my opinion, of course.

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3 hours ago, Xerxes said:

U.S. cannot be close to Iran (at the moment), but it has nothing to do with the mumbo jumbo posted here by the Westerners about Iran interefering in the region etc. Everyone intefers with everyone in the middle east. If you do not know that or dispute that, that means you do not know anything. You only survive by fighting tomorrow' war outside your borders, before it gets into your borders. In that regard Iran is no different than Israel, Turkey, UAE, Saudi Arabia, and the mother of all spoliers : the United States of America.

 

Saudi Arabia launched a full scale of war against Yemen, same as Moscow did with Ukraine. There is no shortage of reports of schools and hospitals being bombed by the Saudis (for those who actually have eyes & interest). That is called terrorism. The Saudi Air Force was systematically supplied and refueld by the U.S. CENTCOM. What does that make the United States => a state sponsering terrorism ? 

 

It just happens to be U.S. and Iran are not on the same page. Iran' revolutionary regime wants to expand its influence and that comes head to head with other power brokers, expanding their own view. Turkey and Saudi are at much in comeptition as Iran is with the Saudi. Specifically on Iran's regime, they draw their power from isolation, and draw their legitimecy and brand from it. So, naturally as long as the bearded elders are alive in Tehran, that rapproachment will take time. 

 

The 1979 revolution that brought us this regime was not an islamic revolution. It was just a revolution with many stakeholders who opposed the Shah. It was the Iran-Iraq war, very much sponsered by the West, that really helped solidify the regime control in Tehran. The decades long sanctions gave new life and power to the revolutionary guards. Isolation has been the source of power.

 

On 9/11, if it suited Washington to draw distinction between Saudi goverment and the 9/11 hijackers they would have. It served no purposes and it did not suit them, rather they went with the Iraqi idea and capitalize on it and as it happens the American population just needs a little "nudge" and they fall in line with the narrative-of-the-day.

 

Seriously, how can Bush go head to head with one his best friend, the Saudi ambassaor in Washington. (rhetorical question - no answer is required)

 

Now, if half of this forum are brainwashed posters who cannot understand these things and prefer a cartoonish bad-guy-good-guy point of view. So be it. At least keep the discussion outside geopolitics and stick to the subject in the thread: Energy.

 

---------------

Maybe that is too much for you guys in one day. But do i need to add that Iran was a democracy in the 1950s and that democracy was overthrown in a coup, paving way for the Shah returning as a absolute monarch, and the counter-revolution to it in 1979.

 

Guess who were the main sponsers behind that coup that ended a democracy in Iran which has brought us all this misery:  it was known as "Operation Ajax" at the CIA and "Operatio Boot" in the MI6. Hopefully you can guess the countries.

 

1953 Iranian coup d'état - Wikipedia

 

 

 

 

 

 

 

 

 

 


Honestly Xerxes, some of what you wrote is a pile of garbage.

 

To imply that I and others and are simply saying Iran and the US don’t get along because Iran is interfering in the region is a deliberate or accidental misreading of what was said.

 

It’s clear than US and Iran’s interests are not aligned, the idealogical differences are great, and there is a history there that makes reconciliation difficult.

 

About that history, and the Western sponsored coup, I’m betting we all know about it.  It’s 2022, Wikipedia is free, and what you’re saying is unlikely to be new information to anyone.  You obviously have quite a dim view of everyone else’s grasp of history, we aren’t all ignorant and we don’t require the lecture.

 

Yes the US could have made no distinction between the Saudi citizens and Saudi government, but they did, and not just because it was convenient, but because there actually IS a distinction.

 

And btw this is a discussion about energy, perhaps you could go back and reread some of what was argued.  That you think energy wasn’t mentioned is proof you didn’t really read it or take the time to understand it.

 

Edited by Sweet
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7 minutes ago, Spekulatius said:

That is exactly what I am doing. If I don’t like the counter party, I don’t deal with them, especially when it’s a private transaction.

 

I have actually had this happen more than once. Was bidding on a house and got the impression that the owner were jerks and just moved on. Same buying cars at a dealer or from private or anything else for that matter. Dealing with jerks or scumbags is not worth the aggravation even if the deal seems good. Just my opinion, of course.

 
An opinion shared by others, including a couple of famous investors supposedly revered by this board.

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25 minutes ago, Spekulatius said:

That is exactly what I am doing. If I don’t like the counter party, I don’t deal with them, especially when it’s a private transaction.

 

I have actually had this happen more than once. Was bidding on a house and got the impression that the owner were jerks and just moved on. Same buying cars at a dealer or from private or anything else for that matter. Dealing with jerks or scumbags is not worth the aggravation even if the deal seems good. Just my opinion, of course.

Now imagine most of the houses and cars are owned by jerks? Would you pay 30% more to the “nice guy” for the exact same product? I guess when it’s other peoples money it’s different, which is effectively where the government sits.

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56 minutes ago, Sweet said:


Honestly Xerxes, some of what you wrote is a pile of garbage.

 

To imply that I and others and are simply saying Iran and the US don’t get along because Iran is interfering in the region is a deliberate or accidental misreading of what was said.

 

It’s clear than US and Iran’s interests are not aligned, the idealogical differences are great, and there is a history there that makes reconciliation difficult.

 

About that history, and the Western sponsored coup, I’m betting we all know about it.  It’s 2022, Wikipedia is free, and what you’re saying is unlikely to be new information to anyone.  You obviously have quite a dim view of everyone else’s grasp of history, we aren’t all ignorant and we don’t require the lecture.

 

Yes the US could have made no distinction between the Saudi citizens and Saudi government, but they did, and not just because it was convenient, but because there actually IS a distinction.

 

And btw this is a discussion about energy, perhaps you could go back and reread some of what was argued.  That you think energy wasn’t mentioned is proof you didn’t really read it or take the time to understand it.

 


Clearly I don’t know what I am talking about.  A pile of garbage indeed. 
 

Pls proceed with your discussion 

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On 10/6/2022 at 7:43 AM, Viking said:

The super interesting thing today is how out of step the Fed is from other Western central banks (Europe, Japan, Australia) where i think they view financial repression as the preferred policy option (let high inflation rip and keep interest rates low for as long as it takes to bring real debt to GDP levels into line).


Australia has been far too  accomodating (in my opinion) but I wouldn’t put us in the same bucket as Europe or Japan. Rates have never been negative and since April the central bank has raised from 0.1% to 2.6%.

 

There was a lot of media coverage around the most recent raise of 25bps when the expectations were 50bps.

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7 hours ago, james22 said:

US oil industry MOCKS Biden after OPEC announced production cuts: Energy groups say administration now has no choice but to come 'crawling back' to domestic producers

 

* US oil industry trade groups lashed out at the White House after OPEC cutbacks

* With gas already painfully high, OPEC is slashing output by 2M barrels per day

* 'Life comes at you pretty fast,' tweeted the US Oil and Gas Association

* US producers say the Biden administration has smothered domestic production

* Now they say the White House has no choice but to boost output in the US 

 

https://www.dailymail.co.uk/news/article-11285801/US-oil-industry-says-Biden-boost-domestic-output-OPEC-cuts.html

Yes, perhaps, but also quite very positive for Canadian producers, if they can get it out of the country. 

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24 minutes ago, Spekulatius said:

And Trump is sort of like Nixon, but Nixon was smarter.

 

Europe is going to do the sweater thing:

Jimmy Carter Presidential Library on Twitter: "Is any other POTUS as  closely identified with sweaters as Jimmy Carter? Two weeks after being  sworn in, 2/2/77, he gave a TV Fireside Chat on

 

Instead of lining up at the Gas Station, Europeans are hoarding Firewood for the Winter...

 

For the ESG folks: is cutting down fresh trees and then burning them in a furnace cleaner than nat gas ?

 

 

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30 minutes ago, Dalal.Holdings said:

I think a Reagan (Likely DeSantis) will follow this one term Jimmy

Please no. Let him stay in Florida. He can be effective there. The US as a whole, especially from the seat of the White House, is just too far gone.

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Just now, Gregmal said:

Please no. Let him stay in Florida. He can be effective there. The US as a whole, especially from the seat of the White House, is just too far gone.

 

That's how it was in the '70s. NYC was nearly bankrupt and the cities were full of crime and drugs because the boomers moved to the 'burbs to raise their kids...

 

Then Nancy Reagan came along: "Just Say No..."

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1 hour ago, Dalal.Holdings said:

 

Instead of lining up at the Gas Station, Europeans are hoarding Firewood for the Winter...

 

For the ESG folks: is cutting down fresh trees and then burning them in a furnace cleaner than nat gas ?

 

 

The firewood wood is mostly leftover from regular harvesting or thinning out. It’s there anyways and would otherwise rot. From a CO2 perspective, burning it gives the same results. Air pollution is a different issue.

 

A lot of people used firewood to heat homes in the past in rural areas in Europe. I know we did from the 70’s to the 90’s. The older heating oil burners can do both. I guess these are making a comeback for those who have those older burners. Newer burners don’t have enough room for firewood unless they are specifically designed for dual use, as far as I know.

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22 hours ago, Xerxes said:


Clearly I don’t know what I am talking about.  A pile of garbage indeed. 
 

Pls proceed with your discussion 

 

I found your post very informative.

 

Regarding our "ally" Saudi Arabia - again they seem rather neutral when it comes to choosing between U.S. and Russia. Their goal is to do business, period. 

 

So to relate this to energy, the West can do business with the Saudis and not with the Iranians. But it's hypocritical to draw a moral distinction between the two as the reasoning. Hell everyone has their faults. I hate Trump but one of the most truthful things he's said imo was when he said to Bill O' Reilly "we've killed people, you think our country is so innocent?" lol. 

 

To tie it in with investing as to avoid politics, Charlie Munger said it best : "We should use up everyone else's oil before tapping our own"

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Neither the Iranian nor the Saudi can be trusted. If you trust them, be prepared to be disappointed. But that is the nature of things. 

 

But it is also true U.S. has been the biggest spoiler in the region and directly and indirectly causing havoc, death and destruction as it went. So therefore in turn neither Iranian and Saudi can trust Americans. It is just mutual. 
 

The only U.S. government that has done any good (IMO) in the past 40 years in the Middle East is actually (surprisingly) that of President Trump. No no no not because of pulling out of nuclear deal (which you ll see westerners opine a lot) but rather the Abraham Accord and bringing UAE and Israel and others close. It even beats Camp David in terms of achievement. That is a credible of achievement worthy of praise. 

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14 hours ago, Mephistopheles said:

 

Regarding our "ally" Saudi Arabia - again they seem rather neutral when it comes to choosing between U.S. and Russia. Their goal is to do business, period.

 

Saudis have had a working relationship with the US since 1933.

 

The leadership has been educated in the US.

 

Most in leadership have been mentored by Americans.

 

They would much prefer to do business with the US than Russia or China.

 

But the US is a terribly unreliable ally, every four to eight years changing direction.

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1 hour ago, james22 said:

 

Saudis have had a working relationship with the US since 1933.

 

The leadership has been educated in the US.

 

Most in leadership have been mentored by Americans.

 

They would much prefer to do business with the US than Russia or China.

 

But the US is a terribly unreliable ally, every four to eight years changing direction.


 

Don’t take a snapshot of the past and just projected forward into the future.
 

That was the House of Saud, with a decentralized rotating power structure between brothers and ruling by consensus and careful decision making. 

 

This is now House of Salman with power being fully centralized on and around the royal line of Salman and his descendants.
 

Autocracies prefer to work with other autocracies. 

Edited by Xerxes
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Hopefully Gavin uses at least a Google search. NJ and NY are equally as liberal and gas is like $3.50 a gallon. There’s definitely something worth investigation regarding California gas prices but I don’t think they’ll like what they find as to the why.

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https://www.bloomberg.com/news/articles/2022-10-08/firewood-demand-is-surging-as-europeans-return-to-world-s-oldest-fuel?srnd=premium

 

Tell me how this is not an energy crisis on par with the one in the '70s...

 

Quote

“We are worried that people will just burn what they can get their hands on,” said Roger Sedin, head of the air quality unit at the Swedish Environmental Protection Agency, warning against poor ventilation and trying to burn wet firewood. “We can see very high pollution levels when you have people burning wood who don’t know how to do it correctly.”

...

Inexperience is also evident in Germany, where the country’s association of chimney sweeps is dealing with a flood of requests to connect new and old stoves, and customers are inquiring about burning horse dung and other obscure fuels.

 

This is what you get when you overdose on ESG and let inept EU officials chart your energy and security future...

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