Tag: Baker Hughes

Washington’s REAL Policy on China – “Repairing Ties” is Theater Ahead of Sanctions, War

Tina Marie (Ms. Cat)

The US Build-Up for War with China

– Visit by US Secretary of State attempts to portray the US as “reasonable” versus a “belligerent” Chinese “dictatorship;”

– Secretary Blinken recited the US “One China” policy, omitting the many ways the US has and still is blatantly violating it and provoking China;

– US strategy follows similar pattern of the US “reset” with Russia or the US-Iran “nuclear deal,” where the US sought to appear to have exhausted diplomatic options before moving on “reluctantly” to economic sanctions and war;

– Such a strategy is necessary for consensus building among US allies who would otherwise be hesitant to join the US in both economic sanctions and eventual military intervention versus China;

– US policymakers are already busy planning sanctions against China, which includes an already ongoing public relations campaign to sell Russia-style sanctions against China, as well as preparations for military operations to follow the sanctions;

– The US has a long-standing strategy to encircle and contain China spanning decades, indifferent to presidential administrations;

References:

Washington’s REAL Policy on China – “Repairing Ties” is Theater Ahead of Sanctions, War (Rumble) via The New Atlas

White House Leaves Door Open For Additional SPR Releases + It’s Implications

Tina Marie (Ms. Cat)

The White House said on Tuesday that it has many options to counteract OPEC+’s looming production cuts, including the release of even more crude oil from the nation’s Strategic Petroleum Reserves.

White House Leaves Door Open For Additional SPR Releases

Related:

The Implications Of U.S. SPR Withdrawals

Implications of OPEC-+ Production Cut 

I think OPEC has not learned from its past mistakes, as it is not a good time to cut oil production by 2 million bpd in November 2022, especially at a time when global economies are under pressure. While higher oil prices at this juncture may bring much needed oil revenues to (national) oil companies and OPEC members, this will come at the cost of accelerating a global recession, bringing more misery to consumers. Consequently, it will weaken global oil demand and oil prices. Oil prices in the range of $70-$80/bbls at this difficult time could be a win-win situation for both producers and consumers, and shield global economies from collapsing. Consequently, the U.S. should take its own measures to enhance its domestic oil production, encourage EVs and halt further releases of the SPR. Running down the SPR will allow OPEC+ more flexibility to play around with production.

Meanwhile:

U.S. Rig Count Slides Amid Jump In Crude Prices