OPEC+ To Cut Oil Production By 2 Million Barrels Per Day

OPEC+ To Cut Oil Production By 2 Million Barrels Per Day

The specter of OPEC+ even considering such a large cut as global oil supplies are tight has sent the Biden Administration reeling. White House spokesman John Kirby on Wednesday said that the United States needed to be less dependent on OPEC+ and other foreign producers of oil. The White House was reportedly in a panic leading up to the meeting, trying to prevent OPEC+ from taking such a “hostile act”. In the runup to the meeting, the White House unleashed Amos Hochstein, Janet Yellen, and Brett McGurk to plead its case with the Gulf Nations. Evidence suggests the move had zero effect.

Related:

White House Disappointed With OPEC’s ‘Shortsighted’ Decision

In the meantime, the American Petroleum Institute (API) has criticized the administration’s energy policies, saying that dependence on OPEC and other foreign countries for our energy is a “choice”.

White House Seeks $35 Million in Nuclear Incident Aid Amid Rising Ukraine Dangers

White House Seeks $35 Million in Nuclear Incident Aid Amid Rising Ukraine Dangers

As Russia ups its threats to Ukraine’s beleaguered nuclear power plants, the Biden Administration has asked Congress to set aside $35 million to prepare for a possible nuclear incident in Europe.

Previously:

Slava Slush Fund: despite economic crisis, Congress readies $12 billion more for Ukraine + More

How Joe Biden Made the War in Ukraine a Gift to the Gas Industry

Gas execs

How Joe Biden Made the War in Ukraine a Gift to the Gas Industry

The letter, dated February 25, just one day after Vladimir Putin’s forces launched their assault on Ukraine, noted the “dangerous juncture” of the moment before segueing into a list of demands: more drilling on US public lands; the swift approval of proposed gas export terminals; and pressure on the Federal Energy Regulatory Commission, an independent agency, to greenlight pending gas pipelines.

Much of the new gas infrastructure won’t be operational for several years, which may be beyond the timeframe of the Russia-Ukraine conflict that has squeezed supplies and caused gas prices to spike. So much LNG export is planned or under construction, adding up to about half of all total US gas production, that it will probably cause gas prices to climb for domestic American users, according to Clark Williams-Derry, analyst at the Institute for Energy Economics and Financial Analysis

“It’s beginning to eat into the amount of gas available to domestic consumers,” said Williams-Derry. “We will see very severe impacts on domestic US gas prices. We will see the impacts for as long as the eye can see.”

Biden adds billions in Ukraine ‘aid,’ pushing total to $70 billion

The people of Jackson, Mississippi, have toxic sludge coming out of their kitchen faucets. In some neighborhoods, there isn’t enough water pressure to flush toilets. They’ve gotten, at most, the distracted attention of President Joe Biden.

One joker suggested that if the city of Jackson declared itself a part of Ukraine, the $2 billion check would be in the mail tomorrow.

Biden adds billions in Ukraine ‘aid,’ pushing total to $70 billion

Can the U.S. Kick Its Reliance on Russian Uranium?

Posted on September 5, 2022 by John McGregor

John here. France is working to bring all of its nuclear power plants back online before winter and Germany is contemplating a plan to postpone the closure of its plants. Hungary has just issued approvals for two new nuclear reactors from Rosatom. Nonetheless, Ukraine is pushing for sanctions on Russian uranium. Theoretical capacity to replace uranium with thorium won’t translate into immediate results, so any sanctions in the short term would put further pressure on energy markets.

Can the U.S. Kick Its Reliance on Russian Uranium?

U.S. Strategic Petroleum Reserve Falls To 35-Year Low as American crude heads overseas at a record pace

U.S. Strategic Petroleum Reserve Falls To 35-Year Low

According to the Institute of Energy Research, the SPR is expected to shrink to a 40-year low by the end of October, with inventories then at 358 million barrels, compared to 621 million barrels a year ago.

Related:

US oil exports to China and India jump as American crude heads overseas at a record pace

The only thing that climbed as high as gas prices earlier this year was the disapproval of US President Joe Biden 😂

Biden was wrongly blamed for rising gas prices. But he doesn’t deserve much credit for the drop