Tag: Department of Energy

The Era Of Cheap Oil Has Come To An End

Tina Marie (Ms. Cat)

In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.

The Era Of Cheap Oil Has Come To An End

Previously:

U.S. Begins SPR Repurchase Program As Oil Prices Crash

Pentagon Profiteers: Executive Compensation in the Arms Industry

Tina Marie (Ms. Cat)1 Comment

Pentagon Profiteers: Executive Compensation in the Arms Industry

Another way to understand the size of CEO compensation at the big contractors is to look at how many jobs would be created if that $287 million were spent on something else. The answer is that spending that money on productive activities would create thousands of jobs: 2,812 jobs in clean energy or infrastructure; 4,104 jobs in health care; and 4,362 in education, calculated using data on the jobs impact of government spending generated by Heidi Peltier for the Brown Costs of War Project.

Donald Trump’s Claims About Filling The SPR Are Not True

Tina Marie (Ms. Cat)

Last week, as expected, former President Donald Trump announced he is throwing his hat in the ring for the 2024 presidential election. The move was widely expected, and as he is prone to do, Trump made a number of questionable claims in the speech announcing his candidacy.

Donald Trump’s Claims About Filling The SPR Are Not True

Related:

No, Former President Trump Did Not Fill The Strategic Petroleum Reserve

U.S. Accelerates Three-Tier Plan To Reduce Oil Prices

Tina Marie (Ms. Cat)

U.S. President Biden has three key strategies in place to lower oil prices.

– The first and foremost strategy is the implementation of the NOPEC bill.

– The second pillar of the plan is to release more crude from the U.S. SPR.

– The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.

U.S. Accelerates Three-Tier Plan To Reduce Oil Prices

New York and New England start RATIONING heating oil before winter as stockpiles slump by 70% and fears rise that families will be left in the cold

Tina Marie (Ms. Cat)

Heating oil suppliers in the Northeast and New England have begun rationing the key fuel ahead of winter, after stockpiles dropped to a third of their normal levels.

New York and New England start RATIONING heating oil before winter as stockpiles slump by 70% and fears rise that families will be left in the cold

The Wolfowitz Doctrine Led to the Disastrous War in Iraq: Now it is Leading to a Potentially Even More Cataclysmic War in Asia

Tina Marie (Ms. Cat)

The Project for a New American (Racist )Century is omnipresent in the capitals of Europe today. From Dublin to Berlin—Ukrainian colors are on flagpoles, bus stops and buildings. The subtext is blonde hair and blue eyes.

The Wolfowitz Doctrine Led to the Disastrous War in Iraq: Now it is Leading to a Potentially Even More Cataclysmic War in Asia

Diesel Crisis Deepens As Inventories Fall To Dangerous Levels

Tina Marie (Ms. Cat)

Diesel Crisis Deepens As Inventories Fall To Dangerous Levels

Yet right now, U.S. buyers are snapping up diesel cargos from Europe in a way similar to how Europe has been snapping up LNG cargos originally meant for Asian destinations. And supply is not going up fast enough because there is not enough refining capacity for it to go up fast enough or even meaningfully enough. And this spells a lot more trouble for both Europe and the U.S., especially in the inflation department.

It was the first thing that came to mind. 🤷🏼‍♀️

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

Russia Responds to Ukraine’s Attack on Crimean Bridge etc.

Tina Marie (Ms. Cat)1 Comment

Russia Responds to Ukraine’s Attack on Crimean Bridge etc.

A number of other “terrorist attacks” have targeted Russia’s energy infrastructure, including an attempt to blast one of the sections of the TurkStream gas pipeline which runs from Russia to Türkiye, he said.

Related:

AEI is a Neocon think tank, connected to PNAC.

AEI: Biden Should Kill TurkStream to Promote Transatlantic Energy Security

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