Trump’s tweet over the weekend that Saudi Arabia agreed to add 2 million barrels per day (mb/d) of supply confused the oil markets, pushing prices down a bit on Monday. Most analysts dismissed the statement, concluding that Trump was confused when the Saudis told him they have 2 mb/d of spare capacity, and not that they had planned to bring that capacity online.
A few days on from that episode, however, it actually doesn’t look that black and white.
Trump is the Cassius Clay of diplomacy!
It seems that Trump is far and away Canada’s most consequential diplomat. What has the Ballerina of the Laurentians done for Canada today?
show of hands…..who thinks the Saudis do not want to fry Iran
So beat your brains out against a wall Eco-Wackos and Tree Huggers Greens you have very little in brains
The real battle going on is Iran v. SA. Iran was trying to inflate prices…SA kind of quashed it…and right now Iran needs the extra revenue pronto. Their sweetheart deal was stomped on by Trump…then (almost like it was planned ;D ) the natives started getting restless in the outer provinces over drinking water. You can tell the Iranian Theocracy is in a bit of a panic. They’re already shooting protesters…and their economy just imploded.
Saudi Arabia is more than happy to speed up the process.
Kate, header suggestion: Trump is Fracking OPEC
If OPEC does fall apart the middle East will erupt, predictably, once again into war. Oil supplies will be targeted and prices will go through the roof.
It’s really great to have a reliable neighbor like Canada there serving up organic conflict free oil at market prices piped safely to our refineries with the guaranteed cash pipeline (prosperity) completing the return run. </sark
Canada is blowing a HUGE opportunity.
Has blown.
It's probably too late.
Any real oil crisis will destroy Canada's ability to produce anything.
We don’t need foreign oil, if we are allowed to harvest oil deposits in ANWR and for the long, long term, oil shale deposits. We have more than 100 years known reserve, and can domestically stabilize oil prices to drastic reduce energy costs. Being self-sufficient will eliminate the Middle East’s hold on us.
Correct…well, almost. The US will outpace Russia for the biggest oil producer in the world sometime in 2019. Also, and more importantly. US is already the biggest refiner of oil in the world…but a large margin.
I know…. it’s so maddening.
Lib-tards are such idiots. ANWR is over 30,000 square miles. The 1002 area is set aside specifically for the purpose of oil exploration. I think they imagine it to be something like the size of Central Park.
SO many resources in the US and Canada it’s mind blowing. And we sit on our hands. My Gawd the stupidity of it all. If there is another big war, tied to conventions, I’d love to see the twink’s kids drafted. They will be the first wave as it will be obvious to seasoned military commanders that they were a waste of.. resources.. in the first place.
Liberals are the greatest waste of resources the world has ever seen.
Anything that ‘shoots’ holes in the Muslim world is fine by me. Iran has more than enough economic problems already and had a revolt not that long ago. Losing oil revenue could cause a crisis. I have less respect for the Saudis who finance world jihad.
https://www.zerohedge.com/news/2018-07-05/oil-drops-wsj-reports-aramco-ipo-almost-certainly-wont-happen
Oil Drops As WSJ Reports Aramco IPO “Almost Certainly Won’t Happen”
But six months into 2018, with oil prices at their highest level in three-and-a-half years and President Trump pushing Saudi Arabia and the rest of OPEC to ramp up production to help quell rising crude prices, the Wall Street Journal has dropped what looks like a bombshell on the oil market.
The Aramco IPO, which would’ve likely been the biggest offering in history given the company’s valuation, is almost certainly not going to happen. According to the paper’s inside sources, the death of the IPO has been all but officially announced.
Furthermore, WSJ reported that the IPO would bring “unprecedented scrutiny” to the Kingdom’s “Crown Jewel”, according to Saudi officials.
“Everyone is almost certain it is not going to happen,” said a senior executive at Aramco, speaking of the IPO.
Oil prices are sliding as expectations surrounding the offering had been one of the factors supporting crude prices.
Why did the IPO support prices? A partially privatized Saudi Aramco might be better at pumping oil.
Name ONE other POTUS who did ANYTHING? Or said ANYTHING? in response to high oil/gasoline prices? Hmmmm, let’s see … Obama said that energy prices would need to necessarily rise. Jimmy Carter made us ‘drive 55’ (and I have the tickets to prove it). The Bushes said nada … except ohhhhh mammma. Bill Clinton agreed to say nothing as long as the major oil companies donated funds for his partners NY Senate campaign.
MY President has actually DONE something. SAID something. Is it useless rhetoric? Are his demands unsettling oil markets? Good! Finally … a POTUS who is looking out for the people of America … Amurrrikka Frack Yeah! Amurrikka Frack YEAH!
Jer 17:5 Thus saith the LORD; Cursed be the man that trusteth in man, and maketh flesh his arm, and whose heart departeth from the LORD.
cursed = H779
אָרַר
‘ârar
aw-rar’
A primitive root; to execrate: – X bitterly curse.
execrate = verb (used with object), ex·e·crat·ed, ex·e·crat·ing.
to detest utterly; abhor; abominate.
to curse; imprecate evil upon; damn; denounce
Trump’s words are worthless. He has no leverage, and the price of oil is higher than when he started. Such are the wages of weak-dollar policy, amongst other bad fruit.
No, son … the poster child of weak dollars wears Indian clothing, promotes higher global warming taxation … and is willingly destroying Canada’s industry by playing “tough guy” *snicker* with MY President.
I am currently exchanging 1.00 of my Trump dollars for 1.31 Trudeau dollars. Yeah … I am jacked beyond belief that I am receiving a 31% discount for my daughter’s upcoming Vancouver wedding. And I totally LOVE my 50% First Nations Canadian son in law … couldn’t be a nicer, more hard working, stand up guy. My daughter scored a great one … thanks Canada!!
Good for you all around. Watch where you go in Vancouver.
Btw, I think that poster child’s panties are in a bit of a Creston knot at the moment.
“I am currently exchanging 1.00 of my Trump dollars for 1.31 Trudeau dollars. ”
You don’t understand what it means to have a strong dollar, but that’s no surprise. Hint: the price of gold.