The Era Of Cheap Oil Has Come To An End

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

Netanyahu Says US Must ‘Reaffirm’ Alliance With Saudi Arabia + More [Abraham Accords]

Netanyahu Says US Must ‘Reaffirm’ Alliance With Saudi Arabia

The incoming prime minister said that he wants to build on the Abraham Accords, which his former government signed in 2020 to establish diplomatic ties with Bahrain and the UAE. Netanyahu said it’s “up to the leadership of Saudi Arabia if they want to partake in this effort.”

Saudi officials recently reaffirmed that they seek a Palestinian state as a precondition for normalizing with Israel. But in order to form a coalition government, Netanyahu gave Religious Zionism party leader Bezalel Smotrich, an ultranationalist settler, sweeping powers over the West Bank.

Related:

Read More »

Matthew Hoh: War is a cancel culture

YouTube: Scheer Intelligence: War is a Cancel Culture

Related:

The U.S. Is Drowning in Pretend Patriotism

Washington’s “Farewell Address” to the new nation was a warning about the threat of American imperial ambitions and a declaration of his high expectations for a republic of free men: “In offering to you, my countrymen, these counsels of an old and affectionate friend, I dare not hope they will make the strong and lasting impression I could wish; that they will control the usual current of the passions, or prevent our nation from running the course which has hitherto marked the destiny of nations. But, if I may even flatter myself, that they may be productive of some partial benefit, some occasional good; that they may now and then recur to moderate the fury of party spirit, to warn against the mischiefs of foreign intrigue, to guard against the impostures of pretended patriotism. …”

But recognize that you have shamed the legacy of our first president. George Washington, who distinguished the promise of the new world from the corruptions of the old by shunning imperial conquest, said: “Our commercial policy should hold an equal and impartial hand; neither seeking nor granting exclusive favors or preferences; consulting the natural course of things; diffusing and diversifying by gentle means the streams of commerce, but forcing nothing.”

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

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

Alleged Iran-Linked Telegram Post Simulates Attack On Saudi Oil

An article published on the blog of international Arabic news television channel Al Arabiya on Thursday claims that an Iran state-linked Telegram channel has posted a video purportedly showing a simulated attack on Saudi Arabia.

Alleged Iran-Linked Telegram Post Simulates Attack On Saudi Oil

Are they over-exaggerating because Democrats have threatened to stop arming their genocidal war in Yemen?! 🧐💭