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POPSSaudi Arabia Wants Compensation if Global Warming Bill Passes Saudi Arabia, which sits atop the world's largest proven oil reserves, is seeing economic growth slide because of fallout from the global meltdown, but experts still expect the country, flush with cash from oil's earlier price spike last year, to be better able than other nations to cope with the current crisis. Al Sabban accused Western nations of pursuing an agenda against oil producers, under the guise of protecting the planet. “Despite the variability in the region, the current Arab position is mainly focused around protecting the oil trade rather than saving the planet form the adverse impacts of climate change,” said Wael Hmaidan, the executive director of IndyACT.
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POPSWas the Real Jihad Against US Economic? And did we lose? Article from a conservative site, suggesting that perhaps the real war against the US was economic and we played right into it. Some partisan crap, but an intriguing idea. See full article for more..
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POPSThe End of the American Economic Era?
Right now, the United States has responded to a lack of demand for its Treasuries through a questionable and disturbing method: we're buying our own debt. That allows the yields to remain low, but buying our own debt is somewhat akin to creating your own credit card. Eventually, you have to acknowledge that the money you create on the books never really existed, unless the United States plans to simply print money to pay off all the bonds. That would create a level of inflation not seen in the West since the Weimar Republic, and will effectively force the rest of the world to avoid U.S. currency and investments as unsound. It would, for the first time in decades, put the United States on the financial sideline. Who would take over as the leading economic power? What kind of world would global dominance by China, India, or Russia bring, assuming any of these could take that role? How about a coalition of oil producers like OPEC, who have the means to fund it? Scary.
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POPSSaudi Arabian Oil Minister Naimi Says Oil To Reach $75 A Barrel The July contract increased 8.2 percent this past week. Oil is up 38 percent this year. Naimi said oil should keep at about $75 a barrel “because that is what is desired for the world economy.” Saudi Arabia produced less than its quota of 8 million barrels a day last month, according to a May 13 OPEC report. The Saudis produced 7.9 million barrels of OPEC’s 25.3 million- barrel daily output. Naimi said last month that helping to keep oil prices at $50 a barrel was his country’s contribution to the world economy, which is fighting the worst recession in six decades. Since he made those comments in Tokyo on April 25, crude prices have climbed more than 20 percent to above $60 a barrel. OPEC cut its 2009 forecast on May 13 and now estimates daily oil demand will fall by 1.57 million barrels, or 1.8 percent, to 84.03 million barrels of oil a day this year.
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POPSAIPAC Bill to Cut-off Oil Products from Iran, Jeapordizes US Economy More
Iran imports 40% of its petroleum products, which AIPAC is leaning on Congress and Obama to cut-off under pretext of "nuclear threat" (hogwash, no evidence of that). See the video and details from the 2009 AIPAC Conference just concluded. Let's imagine the consequences of cutting of oil products from Iran: 1. Iran could reduce supply of crude petroleum to US and others, and get OPEC to agree. Iran controls a large percentage of world supply of crude. 2. Gas prices in the U.S. would skyrocket (again), in this economic war on Iran, in the midst of a severe recession and high unemployment (still growing)! 3. In consequence of #2, all consumer products (that require transportation and fuel) would also skyrocket , causing inflation of prices during recession and unemployment! AIPAC does not care about the U.S. , only the radical Zionist agenda of a "new middle east", and only them with nuclear weapons. Tell Congress NOT to support this legislation!
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POPS Chairman Zero’s Gift to OPEC that would increase electricity costs by up to 400% and cost 4,000,000 jobs. (I guess fewer people working means fewer people “polluting.”) Environmental extremists have to be pleased with Chairman Zero’s actions. Hugo Chavez, Mahmoud Ahmadinejihad, and the bin Ladens must be thrilled. For the rest of us, who don’t get to use government provided cars, helicopters, and jets for transportation … and for the tens of thousands of workers who won’t be getting jobs in the oil fields… we should not be happy about this. Chairman Zero's environmental policy: Environmental groups are fellated while consumers take it in the rear.
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POPSEnergy Secretary Hasn’t Got a Clue What US Energy Policy Is But at least he paid his taxes! Mr. Chu said Thursday he feels “like I’ve been dumped into the deep end of the pool” in confronting questions about oil policy, such as whether the administration would consider delaying scheduled deliveries of oil this spring to the nation’s strategic petroleum reserves. Mr. Chu is still without a deputy, and the administration has yet to nominate people to fill other high-level Energy Department posts, reflecting a broader challenge the administration faces staffing up cabinet departments to handle an array of initiatives called for by President Barack Obama. Have you ever heard anything so absurd? This is the cabinet officer charged with implementing Obama’s energy policy and the man is totally clueless as to what that policy is. Wall Street Journal February 20, 2009
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POPSGas Prices Shoot Up, Thanks to Another Israeli Middle East War Oil prices are still low yet gas has gone up 20-cents per gallon in the last 2 days. Middle east wars directly effect gas prices at the pump. You can thank Israel's new middle east war for the latest hike as this article mentions. New York Times: Oil prices are up about 25 percent in the last week alone, in part because of the escalating conflict between Israel and Hamas in Gaza Now gas prices fell despite OPEC's last cut, and demand has not changed much, so that leaves the market fears of the impact of another Israeli war (as with Lebanon couple years ago), and war-mongering talk, all supported by AIPAC-controlled U.S. Congress and both incoming and going U.S. Presidents. This is not what the U.S. economy needs, and is the fruits of another unjust war! Just when we were beginning to economically breathe on "main street" more wars come to change all of that. Demand Cha
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POPSAre You Ready for $8-a-Gallon Gasoline? Better get ready for gas prices to go way back up, to the $4-per-gallon heights of last summer and even beyond. And it won’t be because of anything OPEC does, or the lunatics running either Iran or Venezuela. It will be because the U.S. government thinks you should pay much more for the gas you depend upon to get to work, go to the grocery store and pick up the kids at school. It’s all for your own good because, remember, the government is here to help us.
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POPS Oil Falls Below $64 As Economy Outweighs OPEC News that Japan's Nippon Oil plans a 15 percent cut in November crude oil refining, from a year earlier and data showing China's September oil demand growth was its slowest in 10 months also weighed on oil prices. Despite OPEC's Friday decision to cut back on production, oil prices have continued to slide. Kuwait's oil minister said OPEC was concerned about an oil price fall after it cut output but it would take time to decide if the cut was sufficient, while Venezuelan President Hugo Chavez said OPEC should create a crude price band between $70 and $90 per barrel. Separately, crude oil speculators on the New York Mercantile Exchange shifted to a net long position while open interest dropped in the week to October 21, the U.S. Commodity Futures Trading Commission reported on Friday.
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POPSWho Lends to the US? mint.com gives an interesting graphic demonstration of how much the US owes, and to whom. I was interested to find Brazil on the list, right after OPEC. Speaking of OPEC, read the part about two "Axis of Evil" nations being on the list of lenders to the US. Scary.
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POPSMoney grubbing careless Shieks Sooner alternative energy sources are developed efficiently the better off the world will be leaving the "thiefdoms" behind as a foot note in history .
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POPSOPEC Cuts Oil Production: NATO Not Happy. NATO, i.e. the EU and the United States. "Scandalous." says British Prime Minister Gordon Brown. IMO, The best thing I think we could do is make it our highest priority to produce alternative energies (and cut energy use-conserve) We should make this a WAR. The WAR to fund and find ALTERNATIVE ENERGIES. This is the Obama Plan --and, of course, it was and is the thinking of many in Europe and around the world. McCain wants to: "Drill, baby drill!" But Obama is right, we can't drill ourselves out of this problem. If we spent as much money as we now spend on the war in Iraq (12-14 billions a month?) I seriously think we could do it...not just on the science we know now but the science we could discover as we move forward (like we discovered the A-bomb at end of WWII...we could discover the "A-Bomb of Alternative Energy." Worst idea? > Using the lie of spreading Freedom and Democracy to invade and occupy more oil rich countries.
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POPSOil & Gas Prices Plunge; Supply Unchanged High gas prices were driven by speculators in oil futures, low valuation of dollar, and war fears--NOT BECAUSE OF LIMITED SUPPLY. Making this point again since GOP propagandists were blaming high gas prices on lack of drilling and our "enemies at OPEC". Baloney! This should bring an end to that pack of lies. 1. This is investor driven, (read the analyst in the clip above). 2. The dollar is now regaining strength , which is used in international oil trade. (But the record $10.2 trillion national debt is made of fake printed money, which is inflationary, and still a huge problem). 3. War fears, which drive speculation also, have subsided as the prospect and drumbeat of war with Iran has diminished (for now). Until Israel foments war again. These are the three principle causes of high gas prices, now being reversed. Let the "drill" propagandists for supply as the cause now shut their mouths.
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POPSGot Gas? continued......What's the problem then? Why aren't oil companies jumping to pump the black gold? Contrary to what some conspiracy theorists would have you believe, there is no cabal of oil companies and foreign governments blocking the way, bottling up U.S. oil production. The reality is much more mundane. Those untapped reserves are located in places that either Uncle Sam has put off-limits for environmental reasons or are too costly to get -- or a combination of both. Given current sky-high prices for crude oil and the likelihood that oil prices will remain high -- at or above $100 a barrel -- for the foreseeable future, it is now economically viable to tap some of those reserves. But environmental concerns -- ranging from preservation of pristine lands to worries about increasing the use of fossil fuels and accelerating global climate change -- remain a hurdle. http://www.kiplinger.com/businessresource/forecast/archive/The_U.S._s_Untapped_Bounty_080630.html
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POPSRussia Halts Trading After 17% Share Price Fall The liquidity crisis is being caused by a crisis of confidence in which people are frightened to borrow and frightened to lend.” Shares in Russia’s biggest state-controlled banks led the slide with Sberbank, the state-controlled savings bank, closing 21.72 per cent down and VTB losing 29.26 per cent. The bank was suffered on investor fears about its securities portfolio, which makes up about 10 per cent of its assets. Crude sinks as traders await Opec decision September 10 2008 Ahead of yesterday's meeting in Vienna, Opec members remained divided over whether to reduce production, with Iran supporting a cut while Kuwait expressed opposition to any move. Ali Naimi, Saudi Arabia's oil minister, said the oil market was "fairly well balanced", which some traders interpreted as a signal that a formal production cut was unlikely. http://www.ft.com/cms/s/0/12983a2e-7ed0-11dd-b1af-000077b07658.html?nclick_check=1
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POPSThe Death Of OPEC September 11, 2008 “We will see what the market requires and we will not leave a customer without oil." “Saudi Arabia will meet the market’s demand,” a senior OPEC delegate said. OPEC will still have lavish meetings and a nifty headquarters in Vienna, Austria, but the Saudis have made certain the the organization has lost its teeth. Even though the cartel argued that the sudden drop in crude as due to "over-supply", OPEC's most powerful member knows that the drop may only be temporary. The downward pressure on oil got a second hand. Brazil has confirmed another huge oil deposit to add to one it discovered off-shore earlier this year. The first field uncovered by Petrobras has the promise of being one of the largest in the world. That breadth of that deposit has now expanded.
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POPSUS Govt payouts to states: Alaska grabs most Gets more than it pays in taxes. "Alaska has been masterful in having the federal government send billions, while it gives its own tax revenues directly to its citizens. While Alaska could afford to pay for its bridges to nowhere (Palin approved!), it would rather have the rest of the 49 states shoulder the cost..." Country first? Smaller government? Lower federal taxes? They'll take all of yours they can get!
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POPS Iran Says Oil Price Is Right At $100 A Barrel Pressure for a cut in oil output at next week's Opec meeting in Vienna stepped up today when Iran’s Opec governor said an oil price of $100 per barrel was “appropriate” Robert Laughlin, analyst at MF Global, said today that Opec had played a good hand in its actions — or lack of them — this year, when prices rose aggressively. "But will be alarmed at the downturn in demand and the deteriorating economic backdrop of the global economy." "Western leaders will be urging the cartel to remain unchanged in production strategy but I fear there is growing feeling in the ranks of price hawks that a cut in production is required and now," Mr Laughlin said Even the most moderate Opec member, Saudi Arabia, which has indicated that it would prefer output to be left unchanged, has been cutting the discount at which it sells Arab heavy, a poor-quality crude that it uses to calm the oil price, offering large quantities at big discounts.
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