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

October 26, 2022October 26, 2022 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

Venezuela’s Oil Output Stutters as ‘Irrational’ US Sanctions ‘Imbalance’ Global Market

October 25, 2022October 25, 2022 Tina Marie (Ms. Cat)1 Comment

Venezuela’s Oil Output Stutters as ‘Irrational’ US Sanctions ‘Imbalance’ Global Market

However, in a recent address to the press, the US president clarified that resuming oil exports from Venezuela was only one of several options. “There’s a lot of alternatives. We haven’t made up our mind yet,” he told reporters after calling the OPEC+ decision a “disappointment.” Washington has demanded that the Maduro government re-engages in talks with the opposition as a precondition for any changes to its sanctions policy.

The US declared Iran a participant in the war in Ukraine

October 21, 2022October 21, 2022 Tina Marie (Ms. Cat)

Colonel Cassad, Oct 21 2022 10:55

The declaration of Iran as a country that participates in the war in Ukraine, of course, is a reflection of the double standards of the US, because in fact the US accuses Iran of supplying weapons to Russia, and Russia uses them. Moreover, accusations are brought by a country that openly supplies weapons to Ukraine, and these weapons are also used for strikes on the territory of the Russian Federation. We do not even consider the very fact of participation of the US military and intelligence services in the fighting in Ukraine. The Americans declare that they are not a party to the conflict, do not participate and do not want to participate in hostilities on the territory of Ukraine.
The US declared Iran a participant in the war in Ukraine

Biden Is Running U.S. Energy Security Into The Ground

October 20, 2022October 20, 2022 Tina Marie (Ms. Cat)

The White House divulged late on Tuesday its plan to release 15 million barrels of crude oil from the strategic petroleum reserve to be delivered in December, as the last tranche of the emergency 180 million barrel release that the Biden Administration announced in March.
Biden Is Running U.S. Energy Security Into The Ground

Since its inauguration the Biden administration has sold more than 220 million barrels from the 650+ reserve. Refilling it at $70/bl, nearly $50 per barrel more than Trump was going to pay, will be quite costly.

Payback For OPEC+ Cuts? Biden May Press U.S. Companies To Limit Saudi Business, Report Says

October 18, 2022October 18, 2022 Tina Marie (Ms. Cat)

Payback For OPEC+ Cuts? Biden May Press U.S. Companies To Limit Saudi Business, Report Says (archived)

The Biden administration wants to leverage U.S. companies with ties to Saudi Arabia but without sacrificing regional security efforts, according to the report.

…

The Biden administration will immediately begin scaling back its diplomatic and military activities in Saudi Arabia, at least until OPEC+’s next meeting on December 4, NBC reports, citing an unnamed senior administration official who said the meeting will “be a key test” of how OPEC+ will respond to European Union sanctions that ban Russian oil imports, effective December 5.

…

The OPEC+ conglomerate–a Saudi-led alliance of oil-producing countries, including Russia–plans to curb oil production by 2 million barrels a day beginning in November. The move, characterized by the Saudi government as an effort to stabilize energy markets, is expected to increase global oil prices and raise gas prices. The Biden administration has vowed “consequences” for Saudi Arabia over the announcement, and Democratic lawmakers have urged the president to halt arms sales to the kingdom, but the White House has yet to announce how, exactly, it will retaliate and is not expected to do so until Congress returns from recess after the November midterms.

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

October 11, 2022October 11, 2022 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

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

EU Pushes For More Sanctions Which Will Come Back To Bite It

October 9, 2022October 9, 2022 Tina Marie (Ms. Cat)

On February 22, two days before Russian troops entered the Ukraine, the U.S. and the EU put reams of sanctions onto Russia. They also confiscated some $300 billion of Russia’s reserves that were invested in the ‘west’. The sanctions had been negotiated between the EU and the U.S. and prepared for over several months.
EU Pushes For More Sanctions Which Will Come Back To Bite It

US Electricity Prices Rise Most in 41 Years as Inflation Endures

October 5, 2022October 5, 2022 Tina Marie (Ms. Cat)

WASHINGTON – Electricity bills for US consumers jumped the most since 1981, gaining 15.8% from the same period a year ago, according to the US Bureau of Labor Statistics.
US Electricity Prices Rise Most in 41 Years as Inflation Endures

Who sabotaged the Russia – Germany NordStream2 gas pipeline?

October 3, 2022October 3, 2022 Tina Marie (Ms. Cat)

Oct 3, 2022 – Smoking gun. There is only one serious suspect for the terrorist sabotage of the Russia – Germany NordStream2 gas pipeline.
Who sabotaged the Russia – Germany NordStream2 gas pipeline? via Hands Off Syria

UN Security Council to Convene on Nord Stream Attacks at Russia’s Request