Tag: oil production

Is the USA Scoring Self-Goals With Its Ukraine Policy?

Tina Marie (Ms. Cat)

There has already been significant criticism of the Ukraine policy of the USA government from a perspective of world peace. The base of US policy is the concept of a proxy war that can bleed and weaken Russia as much as possible (at great cost to the people of Ukraine as well as the peace and stability of the rest of the world). This has been documented at several places. However another important aspect which has unfortunately received very less attention is that the Ukraine policy of the USA government also seriously violates the real, broader interests of the USA government and people.

Is the USA Scoring Self-Goals With Its Ukraine Policy?

Related:

Nearly 90 Percent of the World Isn’t Following Us on Ukraine

Globalization can function only if most participants believe it advances their interests. If the rest believe the West is unfairly using the system for its own benefit, the rules- based international order falls apart and alternatives will emerge.

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These concerns are generating considerable anti-Western sentiment across much of the Global South. While a nuclear-armed Russia shows no willingness to end a war its leaders cannot afford to lose; the West is rapidly losing the rest and thus undermining the very rules-based international order it has sought to create. Our most promising solution to this dilemma is likely to be some sort of diplomatic compromise.

/sarcasm

US, Allies Agree To Implement Russian Oil Price Cap Plan

Tina Marie (Ms. Cat)

US, Allies Agree To Implement Russian Oil Price Cap Plan

If Russia responds to the attempted price cap by cutting oil production [they already have], experts have warned prices could skyrocket. In the worst-case scenario, analysts at JPMorgan Chase said oil could shoot up to a “stratospheric” $380 per barrel. Oil prices are currently hovering around $100 per barrel.

How do higher oil prices prevent a worldwide recession?! Did the Biden Administration even think this through?! 🤯

Russia Confounds the West by Recapturing Its Oil Riches + Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US

Tina Marie (Ms. Cat)

Moscow is raking in more revenue than ever with the help of new buyers, new traders and the world’s seemingly insatiable demand for crude

Russia Confounds the West by Recapturing Its Oil Riches

Related:

US Treasury Secretary Janet Yellen has warned that a failure to place a price cap on Russian oil would hurt the global economy.

Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US

🤡

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

Tina Marie (Ms. Cat)

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

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up

Tina Marie (Ms. Cat)

The writing is on the wall for Europe in terms of this coming winter – It’s going to get ugly. With natural gas imports from Russia cut by 80% through Nord Stream 1 along with the majority of oil shipments, the EU is going to be scrambling for whatever fuel sources they can find to supply electricity and heating through the coming winter. Two sources that were originally suggested as alternatives were Iran and Venezuela.

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up

Related:

Venezuela: Oil Production Declines as Shipments to Europe Suspended

Caracas’ oil operations were affected by mechanical disruptions caused by alleged attacks against oil facilities. On July 16 a natural gas pipeline explosion and a power outage interrupted PDVSA’s supply to its main crude production and export hub, the José Antonio Anzoátegui industrial complex in eastern Venezuela.

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With the operational disruption depleting Venezuela’s lightest oil grade stocks, Iran recently began to increase its supply of 29.5°API blend, a lighter alternative to Venezuela’s 16°API Merey, in order to boost fuel production and free domestic upgraded blends for exports.

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However, anonymous sources revealed that Caracas might suspend crude cargoes to Europe while the industry recovers from recent setbacks. PDVSA is reportedly negotiating the terms of the oil-for-debt agreements with Eni and Repsol to receive fuel while still settling long-standing debts owed to the two companies.

Neither Venezuela’s Oil Ministry nor PDVSA has issued statements confirming the alleged halted shipments to Europe or the renegotiation of the swap deals.

Moscow’s New Found Independence + More

Tina Marie (Ms. Cat)

Moscow’s New Found Independence

Hudson noted, however, that “the biggest beneficiary” of Russia having been laden with sanctions is Washington. This is because Europe, which is heavily reliant on Russian energy, is faced with simultaneous energy and food crises, thus leaving it with little ability to pay attention to other matters.

“Basically, Washington doesn’t care if Russia wins the war [in Ukraine], because the US has succeeded in eliminating its competition in Europe, especially Germany.”

Related:

The International Energy Agency says Western sanctions have had a “limited impact” on Russian oil production

The agency added that the European Union’s commitment to reduce member states’ gas consumption by 15 percent from August 2022 to March 2023 will continue to increase oil demand by about 300,000 barrels per day for the next six quarters.

Shipping oil from the US to Europe costs 12 times more than the start of 2022 as nations continue to shun Russian crude

The Aframax vessels are optimally-sized to dock at European docks, which often cannot fit supertankers, an analyst from E.A. Gibson Shipbrokers told Bloomberg, and the current sky-high rates should remain heightened in the months ahead so long as sanctions against Russia remain.

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“The market consensus was too pessimistic about Russia’s capability to re-route volumes to other buyers,” IEA analysts said. “Russia’s exports adjusted towards other buyers without a serious disruption to its production.”

‘We can’t be an oil supplier’: Biden’s adviser says oil reserve releases must end

Tina Marie (Ms. Cat)

One of Biden’s top energy aides confirmed Friday the administration won’t extend the oil releases from the Strategic Petroleum Reserve that are scheduled to end this fall.

‘We can’t be an oil supplier’: Biden’s adviser says oil reserve releases must end

Related:

Soaring U.S. Production Can’t Keep LNG Prices In Check

Europe has displaced Asia as the top destination for U.S. LNG, and now receives 65% of total exports.

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According to a report by the Oil & Gas Journal, 10-year LNG contracts are currently priced at ~75% above 2021’s rates, with tight supplies expected to persist as Europe aims to boost LNG imports.

Who’s telling the truth about prices?!