Biden is threatening “to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices,” CNBC reported on Monday, October 31, 2022 (read story here). This is political theater, nothing more, to make it look like he’s fighting high gas prices. It lacks [...]
Posts Tagged ‘oil’
Should the U.S. divorce Saudi oil?
Democrats are mad as hell, and don’t want to take it anymore. The problem is Saudi Arabia is under new management. King Salman is still alive, but he’s 87, and is comfortably retired. His son, Crown Prince Mohammed bin Salman, 37, runs the country. And probably will for a long, long time[...]
September 15th, 2022 - 2:58 pm § in Environment, Politics
Why nobody respects Congress
To keep this post readably short, I won’t go over the long history of colorful and vile characters who’ve served in Congress at one time or another. I’ll just say voters can elect anybody they want to, and sometimes do, and let it go at that. And also that polls through the years h[...]
What the GOP says about gas prices
Something is happening that Republicans eyeing the fall elections don’t like: Hiring remains strong and gas prices are falling. I’m not saying they’re against a strong job market and lower gas prices; they’d just rather take credit for it themselves. Anyway, this is what Hous[...]
March 9th, 2020 - 12:36 am § in Donald Trump, Economics
Oil prices collapse after Putin rejects production cuts and Saudi Arabia retaliates
Stocks plunge; Dow drops 2,013 points in Monday trading Oil prices plummeted over the weekend after Russia rejected OPEC-proposed production cuts, setting off an oil-price war with Saudi Arabia. Futures for West Texas Intermediate (WTI) crude fell below $28 on Sunday, and WTI settled at $30.99 in Mo[...]
January 16th, 2019 - 11:46 pm § in America
Can the US Dollar Go Off the Oil Standard?
Not so far back in history, the dollar was denominated in gold. That worked until capitalism told us that the real value of a currency had to be the capital, the productive wealth of a country. Gold was just a raw material, worth less than the factories and farms that made America the first real[...]
June 3rd, 2018 - 11:33 am § in Foreign Affairs, Saudi Arabia
While Trump’s US Infrastructure rots, Trump’s oil policies build ultra fast trains in Saudi Arabia
Haramain train makes pilot trip[...]
March 27th, 2015 - 4:19 pm § in America
Drillers push to develop Alaskan oil
The U.S. oil industry wants to drill in Alaska, and to justify this, they argue the shale oil will run out in a decade. (Click here for source.) They’re probably right on the latter point. The fracking bonanza almost certainly is temporary. Conventional oilfields, such as those in the Middle E[...]
December 31st, 2014 - 6:56 pm § in Misc.
How low can oil go?
Oil is an extremely complicated industry. There are different grades and qualities of oil, with different refining requirements, and widely varying production costs. Oil is used not just for fuel, but also chemical feedstock, and for manufacturing everything from plastics to fertilizer. Things like [...]
Chinazor in Nigeria:
Chinazor Onianwah A vast waste of talent and resources unfolding in this land of plenty. It’s depressing to show the photos of people queening to buy gasoline in a country that is the largest producer of crude oil, so I won’t. President Buhari’s incompetence is becoming glaring. [...]