The Saudis and other Sunni oil states control the marginal supply of oil. Believe it or not their best and brightest run the production and chemical companies. So unlike Progressive places like Russia, Iran and Venezuela, their oil industry is efficient and state of the art.
There is plenty of oil. BUt today the cost of producing that oil at the margin is very high. So the Occupy Line Board with their $1o are just making noise pollution. It is what Progressives do. Primitive self centered libertines surrendering their Liberty for the reward of petty emotions and therefore vindictiveness.
Like this White Privilege dogma. Americans were making real Progressive towards the Sensus Plenior of our Founding first principals. Then Majest Civil Rights was subsumed by Progressive material nihilism. Sadly our great colour rich communities striving and thriving despite systemic oppression were utterly destroyed.
Local communities were stripped of power to manage themselves. As they were politically organized to serve the political agenda of national political interests. So is it surprising that every 'program' the Progressives have delivered has spawned family and economic collapse? That these young Americans forced into failing schools have no way to make sense of what has happened? Is the problem really to little collectivist material nihilism at the Federal level?
Listen to the angry youth of Fegonsun. They do not believe any one or anything. I understand.
Economics at the community level is well understood. It is beyond time our collages produced some builders and economics rather than Napoleon fashion elitists. Magic Johnson has strived mightily to build in our colour rich communities. Hopefully Paul Ryan and he have discussed his experience.
First things first. Parents and families much be respected and empowered with school choice. Local school choice.
Bush was the President. So he was ultimately responsible.
However, the Feds followed protocol. Let the local state and city 'authorities' take the lead. Being those governments were Progressive patronage, it was an early sample of Obama's 'activist' government.
When Bush finally engaged directly and personally things began to get done. While stuff got done with distant command and control, it also resulted in ghost trailers and other such insanity.
Where as we all just pretend Staten Island is fine and dandy. The billions not held up once again went down a Progressive sink hole.
Our government is a blunt instrument at best. Under this current mutation of material nihilism Progressivism it is beyond dysfunctional into a very danger to our Republic and way of life. A government which will abuse the vast power of agencies like the IRS against ordinary Patriots. Yet, will not act to put a quarantine on raging plague areas because some one might get their feelings hurt.
Heck in what is a great depression except for sustained and dangerous radical Fed Reserve action, our government suppresses oil and gas production. While still imposing corn ethanol mandates against all reason and honesty.
The sad part is Hillary with her long record of clear as day yet just this side of doubt White Water and Cattle futures corruption probably can win. Never mind that after the insane Benghazi world disgrace video, she has no moral authority to lead our military or confront Putland, China or Iran. Plus she made public pronouncements of faith in the primitive GW religion. She is fine imposing it as the national religion based on the concept of Progressive science by grant receiving academic reach consensus at the tax money trough.
In the real world what were proud coal mining parents now cloth their children with donations from Goodwill and picking through trash. Even natural gas is suppressed and allowed only to displace coal.
Time for political games is over.
Did not mention the Chinese but certainly should have.
Pay no attention to those coal plants we are building one a week. Look at the shiny solar panels - we sell to your Progressives. Of course Progressives use other peoples money to buy them.
Big move from Saudi Arabia. Take that for helping the Iranians with their nuclear bomb program.
Oil could be down a long time. A few years.
AMazing how real young Liberty protesters in Iran were worth no mention by our Obama regime. But food riots which result in the spawn of National Socialism and Salafi Islam like the terrorist Caliphate are a democracy.
Amazing and very sad. BUt true.
Oh now I understand. The Zombie fad is Jon Stewarts fault! Even as the government implodes in corruption and ineptness he still encourages the young and least aware to vote. How else could Obama win again?
Any person thinking would not vote for Obama.
Actually after witnessing how inept Progressive 'Activist' government is with Ebola. In fact remains so with no quarantine of a deadly plague areas, maybe the young folks were not so far off with a zombie apocalypse.
American should check it out.
Real American families complete tossed away for completely irrational Global Warming dogma imposed by Progressives as our national religion. Even the collectivist environmentalist luddites admit all this EPA regulation will produce at best a trivial 'improvement'.
I am sure Obama believe he could just fix it all with a government program. Progressives do not like their history of the Tennessee Valley Authority. How it imposed patronage and attending poverty where ever it ruled.
What is so sad is the average coal miners just can not switch over to Republicans. The minimum wage thing which is so sad. How are communities economies purposefully wrecked by government policy going to sustain high min wage jobs when there is no local purchasing power?
Mr. Romney as the right idea. This has become an irrational political distraction. Raise the min and then set some sort of realistic inflation index. Then secure the border so that the supply of entry level workers is not infinite.
Also, entry level American workers have the opportunity to move up the ladder. Natural gas and coal are good jobs and community anchor industries. American are a generous peoples. Bit by definition generous must begin at home.
Granted McConnel is an out of place old fashion pork barrel barron. I would hope for a much better character to lead the Senate. But it is imperative Reid be detached from the power he is so wildly and destructively wielding.
Economics is not rocket science. Human nature remains constant and pigment level is irrelevant. The best social policy is full employment. Clinton times were good for black Americans because full employment not government programs or political organizing. It is a shame his self absorbed woman exploiter drove the NAZ5000 bubble and ended it all with his recession.
Blame Bush? Actually the Bush tax cuts worked very well. Not dealing with China was his great economic mistake. Subprice was progressives.
There is a refiner season. Due to the Obama unscience EPA summer winter gasoline 'blend imposition'. So refiners take the opportunity to due maintenance as part of switching over to season mandates. Now more than 20 years out of date and because combined with completely defective corn ethanol corruption, massive and easily avoidable increases in local air pollution, water pollution and whole cycle pollution.
So generally stable oil demand does drop at government lunacy points of time.
This ignorance and environmentalist dogma is exacerbated due the unscience EPA imposing localized blends. So refiners outside government imposed local oligopoly area can not meet local demand.
It is changing some what as the first tier gulf refiners like VLO are 'pipe' suppliers. Delivering gas to protected and therefore antiquated local refiners for blending with the completely defective corn ethanol political anti-science corruption.
Hopefully after the latest trash New York temper tantrum by functionally illiterate Progressive environmentalists, Americas are coming to understand these are nothing more than primitive religion luddites. So we can use science to improve air quality, improve water quality, lower costs direct and increase competition therefore efficiency in much lower per gallon cost.
If our EPA was run by science based ethical people rather than political hacks, this switch would happen to more. So it will have to be after Obama. Anything to make gasoline more expensive is a good thing to these cold hearted dissemblers.
It really is a massive economic stimulation plan waiting to be implemented. It is possible to do the economically sound thing while reducing pollution.. First we have to fire the dogmatic Progressives and then deal with the should be expected special interest political corruption.
Ok if you can afford it you can get on a plane from the Ebola plague areas with no restrictions.
But a cruise ship with an American nurse in self imposed quarantine can not come home.
All this insanity stems directly from Obama's Progressive material nihilist faith.
The regime dramatically underplayed the danger of Ebola. Dramatically underplayed the communicability of the virus. So in reality other than delusional perception is reality political puffing, left America completely unprepared and therefore complete vulnerable.
clearly no one from the government led the hospital staff to understand just how dangerous Ebola is. In fact even our CDC told the nurse she could use mass transit and visit all her best friends. Obama progressive perception met reality and America will be very lucky not to lose our nurses.
We have been extremely lucky. But there are not measures in place to keep it happening again. Thank God for Dr. Kent!
You have to just love young American nurse Pham. Still cute, good natured and smiling while in isolation with Ebola.
Wise young men should take note. Keeper!
Opie, it is a huge call again.
Market is coming to a conclusion that LINE is hedged well enough in oil to make it a couple of years at $80.
While the House of Saud can manipulate oil prices it certainly has no use for more market share at $80. Except current geopolitical events.
I agree with the retired Shell CEO Hofmiester (or in common Americanish Mr. Steward-of-the-House) that the Sauds are very likely to try and test at what price American producers cut back on shale. Companies after all do not tell each other. The full accounting is very different than hiring away a petroleum engineer and process improvements. Or getting industry reps to tell what the rig configuration is. Of course all drilling is local.
Plus we are still in the middle of Obama's latest Progressive perception is reality ebola explosion of ineptness. The changes in behaviour can be subtitle. At Costco I was racing over for the samples. A guy started sneezing. Being a dude it would be generally 50/50 if I would go get the sample. But thinking of Ebola put off my desire. That happens millions of times in America.
The next two years have Obama. If between Obama general regulatory lawlessness and their price gyrations
they can increase uncertainty enough to slow the American energy renaissance?
We can get through Obama. Problem is Hillary is yet another amoral social justice material nihilist idealog Progressive. Spreading her end of the earth Global Warming dogma as food production soars around the world.
Hopefully my fellow Americans are ready to get back to some morals based common sense after this six plus two years of disaster. Hillary is just as unqualified as Obama, brings far more divisive corruption baggage and therefore would also have to rule by inflaming the negative emotions of the lowest information and therefore least aware Americans.
Poor Reuters. Actually poor Americans who's news sources is yahoo feed.
Which explains how Obama was re-elected.
Like we should have expected something different based on his record?
Out the saber toothed Jon Stewart was emotional and passionate. But rather than addressing American history he ran off after the Progressive nut of 'White Privilege'. Which is of course collectivist academic dogmatics of no use in the real world Americans live in.
The Double Victory effort of WWII was successful. But certainly not complete. Truman and Ike were far more constructive on Civil Rights than was Kennedy. Who was maneuvered by strategy and events rather than a natural desire to make this a core policy plank.
But thinking back to that time of early 1960s. Color rich communities were traditional. The great general prosperity of sound economic policies of Democrats and Republicans of the 1950s had resulted in massive economic opportunity around high valued added manufacturing jobs in our great cities. Very real economic progress was being made.
Then came 1964. Sophomoric white college children used Majestic Civil Rights training to advance not virtue based redemption and improvement of America to the fullness of our Judeo-Christian principals. No these half educated fools launched in the collectivist material nihilism without even realizing the change.
The corruption of academia was paired with the most improvident Warren Court. That government force could replace ethics/virtue persuasion and bring forth the collectivist utopia, immediately. This of course rejected every facet of our Founding Philosophy. Including all mention of God. Even in the context of the ancient Plato, Aristotle and Socrates who used logic to prove the necessity of a Loving and Beneficent creator as the center of Just civilization.
Two generations later it is time to cut the Progressive dogma. Booker T Washington has been correct all along. All our colour rich American communities have ever required is economic empowerment. That is achieved by local business folks and not Poison Ivy political organizers. Why founders of our Black Colleges sacrificed. Useful knowledge = empower
Both verbal pugilists were born in the depths of a century now long past.
The anchor of the O'Fox tribe journeys to meet his pal in his home cave. It is rumored Mr. O gave up golf. The specter of a nearly seven foot tall giant rumbling out of the pre-dawn mist, waving a club while cursing testily about bogeymen was to much for the country club. Even on Long Island . Keeping in mind Mr. O is very proud of the Celtic warriors who were known for going into battle buck naked. Except for personally stylish blue paint designs.
With the home cave advantage is a original secular media demigod of comedy channel. No One describes Jon style as evolving from the Ice Age Scrat.
Funniest Scrat Moments (ORIGINAL UPLOAD)
learn english with Jon Stewart
Mad Who thinks he is over compensating for being responsible for inventing California pizza.
Rumor has it that JOn will run this for Mr O's entry.
Blue Oyster Cult Godzilla
So Mr. O We know your opinion of public transportation. BUt don't you think you were a bit extreme with the main stream news crews.
Given the economics of shale and oil sands, the incremental supply requires at least $80 a barrel.
Shipping crude by rail can be up to twice as expensive as by pipeline, roughly $14-$21 per barrel to the Gulf Coast. But just a small volume of such shipments could help avoid the short-term supply overhangs that have burdened the market for years.
It really is not possible to list all the economic inefficiency Obama is imposing mostly through regulatory uncertainty.
Mr. Hamm is correct. This is just delaying the onset of American free market economics building a rational market for oil One in which the power of Saudi is greatly dimensioned by market response.
Obama is not achieving anything with all this dishonest dissembling. Except delaying the natural tendency of the American economy to quickly adjust and adapt. Then get back to growing.
Arab Spring was caused by Obama's refusal to follow the Renewable Fuel Standard and cut ethanol mandates in a food crisis.
Corn and Wheat are returning to high but with in reasonable range prices. Prices are still to high to stop the growth in competition from South American and Brazil in particular.
The countries on the hook are Iran and Venezuela. If Obama had not blocked the XL pipe line we would not even be concerned about Progressive Venezuela. As for Iran they thought they had dodge the instability of sanctions thanks to Obama weakness. Only to find the Sunni Arabs put them back on with oil prices.
Not to mention slowing American production growth until the world economy is in better shape.
Mr. Hamm is correct. With some mature rational American leadership markets will control the marginal oil supply rather than SA. Sure SA will still have a dominate position of influence. Which is different than the current determination.
Market share. What an absurd thing to say. SA and the rest of the Sunni Oil States moved in their full interests. Far beyond simple market share. These states probably do have enough surge capacity to offset a disruption from Ven or Iran. It certainly would not be in their interests to have American and Canadian production to continue to grow at double digits on $100 prices.
If only America had leadership which understood there is far more to reality than the perceptions of the lowest information citizens. Unfortunately Reid and Obama are Progressives. Actually Reid is just a nasty old man without the intellectual capacity to understand what he is doing any more.
To much panic for a good interview.
But the central point Mr Hamm made is that the American energy renaissance is not a boom. It is a change in economic and geopolitical reality.
The 10% of our gasoline supply moving around on railcars is just waste and pollution.
All the oil moving around on rail cars is just waiting for pipes to get built.
Lower food and energy prices are not disinflation. It is return to free market economics and better American living standards.
Hopefully Mr Obama's Wild Delusional Progressive Economics ride is over now.
The only power on earth which can keep SA in a powerful oligopoly position over oil is Progressives imposing their delusions on America. Often just through uncertainty.