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  1. Today
  2. Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector. View the full article
  3. Russia defied expectations of a collapse in oil production following its invasion of Ukraine. But Moscow will have to redouble its efforts to find new buyers if it’s to keep output from shrinking in the coming months. View the full article
  4. Instead of useless forbes...!/articles/1/essays/65/export-taxation-clause Export Taxation Clause Article I, Section 9, Clause 5 No Tax or Duty shall be laid on Articles exported from any State. The Export Taxation Clause was one of the many accommodations that the Framers made to cement unity among the various sections of the union. Many of the Southern delegates at the Constitutional Convention regarded the clause as a prerequisite to gaining their approval of the Constitution. As the primary exporter of goods (particularly cotton) in the late eighteenth century, the South believed that it would have borne a disproportionate burden from export taxes. In addition to the disproportionate burden argument, George Mason voiced the South’s fear that a tax on exports would create a mechanism through which the more numerous Northern states could overwhelm the Southern states’ economies. They also worried that export taxes could be used indirectly to attack slavery (because slaves were then very important in harvesting cotton). The Southerners were joined by Northerners such as Oliver Ellsworth, who declared that export taxes would stifle industry. In response, some of the most distinguished delegates at the Convention, including James Madison, Alexander Hamilton, George Washington, Gouverneur Morris, and James Wilson, favored export taxes. They argued variously that export taxes were a necessary source of revenue for the central government, that they were an important means for the federal government to regulate trade, and that the South’s disproportionate need for naval protection justified its disproportionate share of export taxes. Attempts to limit the absolute prohibition on export taxes failed. James Madison’s attempt to require a supermajority for passage of an export tax was barely defeated by a 6–5 vote. The absolute prohibition on export taxation then passed by a 7–4 vote. It provoked little discussion during the ratifying conventions. Scholars point out that the Export Taxation Clause was part of a complex set of compromises related to the South’s economic interest in slaves and in the products that slaves produced. They argue that inclusion of the clause was linked to the removal of a two-thirds voting requirement to pass a navigations act and the inclusion of a twenty-year limitation of Congress’s power over the slave trade (Article V). Hrmmm why all these years did I think exports could be taxed... Always read that article as interstate...
  5. Although the price of crude oil is in decline, the rate of the fall is being dampened by the high gas prices. In this context, a serious crash is unlikely, as the upthrust of the high gas prices seems to be slowing down the downward movement. The price of LNG, liquified natural gas that is currently almost twice as much in price as it was at the same time last year, has become a dominant factor when it comes to determining the crude oil prices.- in addition to the fears of recession, of course. Please read for more here:
  6. The Ukraine-Russia War is part of a Global Agenda to keep people distracted and to keep people picking sides. People are being played. EXCERPT ...I suggest the war in Syria was/is the last of the true imperial wars and the war in Ukraine is the first of the new kind of war, whatever that turns out to mean. The first truly Orwellian war perhaps, waged, as he describes in 1984, not by one power block against another, but by the “elites”, united by mutual interest, against the rest of us. A continuation of “covid” by other means. After all we can’t deny this war launched at a very opportune moment for the NewNormal didn’t it, and has helped promote a lot of the same agenda, as well as created a MASSIVE distraction from the most important lesson “covid” taught us. The common purpose of those who think they rule us.... ...New globalism’s new schtick is “multipolarity”. ...Globalism doesn’t seem to need the US or it’s empire any more...promoting the same anti-human agenda. Cricket flour in the shops. CBDCs and QR codes....
  7. Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. View the full article
  8. Offshore Energies UK has urged government to prioritize the domestic production of energy after a House of Commons briefing showed that in June 2022, the UK imported no oil, gas or coal imports from Russia. View the full article
  9. We are in Solar Cycle #25, but that is only a small cycle compared to the much larger cycle...the Grand Solar Minimum. The earth is on a cooling trend.
  10. "As for crude oil prices, Courvalin sees Brent climbing to $130 by the end of the year. “So we think Brent goes to $130 per barrel at the end of this year to reflect this need for sustained high prices.”??? Goldman has already lowered its estimates for year end as they were way off the mark with their predictions from earlier this year They must be so long on Oil they are trying to prop up prices so they can exit their positions without losing Billions..... the market does not move to Goldmans predictions and are headed for $80 Brent oil xmas My bet is Courvalin is the architect of Goldmans positions and will be out of a job.... Watching the market this morning??? last week was just another dead cat bounce as oil is heading into the dumpster What will drive oil lower??? THE FED...will overshoot the raises in the rates and spook the markets with their next rate increase (they should stop raising rates as the market has already taken notice...housing prices are down from the peaks and new housing starts have falling hard with all commodities already getting slammed.....Inflation has been shutdown in July August will follow with a zero of less than zero inflation number......with gas prices driving the decline Iran will roll over on their nuke program and trade it in for selling oil again..... Deal is getting close to happening in the next month....... 2 million barrels a day boost in world output by year end just from Iran alone. Russia will be sidelined with a decline in their ability to market their oil and discount crude heavily leading to a bad dive in oil...... US crude will hit 13 million a day by xmas China is in a crisis on their own with property falling apart resulting in a bad banking crisis... no end in sight ...they already are in a serious increase in oil demand for the foreseeable future in China.... Enjoy sticking with your Goldman BS......They are looking for sheep to buy them out of a bad position in oil
  11. OK, Trump is somewhat wealthier than most. Even if he's cash-flow negative, it still counts.
  12. No, Russia and China have a mutually synergetic existence. And so could Europe, if only it had the power to give the boot to Uncle Sam. Who wouldn't mind if all of Eurasia goes to heck. Russia has been exposed for what? I don't see how interethnic strife, left in a wake of Soviet breakdown, applies to the relationship with the West. There has never been an Empire which broke down entirely peacefully, and you haven't exactly been helping, by sponsoring "color revolutions" all around Russia. What does this expose you for? If this is what Europeans understand, they are sheep programmed by the media. Russia is not the enemy. Oil and gas are not only used for energy, but as a feedstock to make everything. The development level of society is very closely correlated with per capita energy use. Which is declining everywhere in the "collective West", except for the countries which are net exporters. Norway, Australia, USA. The only Asia Pacific country in decline is Japan. Everybody else is propelled by Chinese steamroller, which grows exponentially. Russia is already ahead of Germany on this metric. So, you go ahead and destroy your productivity and quality of life. I remember the fully sustainable lifestyle of USSR, where everything was reusable and made out of natural materials only. You'll quit the moment you have to hand-wash your child's soiled diapers.
  13. I think I liked the previous version better, where additional fertility required additional patriarchal oppression :) Look at the same map for the 1950-ties So, whatever population growth we are observing now is merely lag, a side effect of about three generations being alive at once. (with proportion of old people in the population growing) The correlation with developed/not developed (or the amount of patriarchal oppression) is no longer there, like it was in the 1950-ties.
  14. Yesterday
  15. While the Inflation Reduction Act takes important steps toward new oil and gas leasing and investments in carbon capture and storage, it falls well short of addressing America’s long-term energy needs and further discourages needed investment in oil and gas, API said. View the full article
  16. After the U.S. House of Representatives passed the Inflation Reduction Act, National Ocean Industries Association President Erik Milito said the bill secures some key priorities for long-term American energy security. View the full article
  17. As the Earth Cools, the Climate Change Hoax Heats Up By Michelle Edwards - August 12, 2022 Numerous experts believe 2020 marked the beginning of a 30-year global cooling phase. Yet, the post-pandemic hype around global warming (aka climate change) and the doom scenario it entails is at a fever pitch. No surprise there because that looming collapse is the driving force behind the global elite’s Great Reset. A closer look shows that much of the climate data fueling the global warming hoax is fraudulent. For example, nearly every temperature station operated by the National Oceanic Atmospheric Administration (NOAA) is corruptly placed to support the climate change scam. According to research by the Heartland Institute, an astonishing 96 percent of NOAA’s temperature stations fail to meet the agency’s own “uncorrupted placement” standards. Instead, most of them are located near objects that trap or produce heat, tainting their readouts. On June 17, 2022, two career physicists who have specialized in radiation physics and dynamic heat transfer for decades emphatically stated in comments to the SEC that fossil fuels and CO2 (carbon dioxide) cause no climate risk. Their words were in reaction to the SEC’s proposed rule “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” Calling climate science literature “a joke,” Emeritus Professors William Happer and Richard Lindzen call the false data “pal review, not peer review.” They add that “climate science is awash with manipulated data, which provides no reliable scientific evidence to support the proposed rule.” [IMAGES and SHORT VIDEO] RESTAURANT SHOW CARBON COST OF FOOD. In their 28-page declaration to the SEC (which is seeking to impose massive and onerous ‘climate change’ reporting requirements on public companies), Happer and Lindzen clarify that CO2 is essential to our food and thus to life on earth. The pair, who declare that “misrepresentations, exaggeration, cherry picking, or outright lying pretty much covers all the so-called evidence,” state they are shocked “that anyone could get away with such sophistry and downright dishonesty.” They explain: “We owe our existence to green plants that, through photosynthesis, convert CO2 and water, H2O, to carbohydrates with the aid of sunlight, and release oxygen. Land plants get the carbon they need from the CO2 in the air. Other essential nutrients—water, nitrogen, phosphorus, potassium, etc.—come from the soil. Just as plants grow better in fertilized, well-watered soils, they grow better in air with several times higher CO2 concentrations than present values. As far as green plants are concerned, CO2 is part of their daily bread—like water, sunlight, nitrogen, phosphorus, potassium, and other essential elements. Without CO2, there would be no photosynthesis, no food, and no human or other life.” Happer and Lindzen’s comments to the SEC are part of a much broader scientific revolt by many scientists alarmed at the corruption of science—ignored by mainstream media—to advance the command-and-control Net Zero agenda, which is part of the World Economic Forum’s Great Reset. Experts in their fields, Happer from Princeton and Lindzen from MIT, have a combined nearly 100 years of intense focus on atmospheric science. Speaking of the proposed SEC rule, they stand firm that fossil fuels and CO2 cause no climate-related risk. They add that this truth applies to Net Zero, which, when fully implemented, will lead to “massive falls in living standards.” They write: “Contrary to the incessant attack on fossil fuels, affordable, abundant fossil fuels have given ordinary people the sort of freedom, prosperity, and health that were reserved for kings in ages past.” Shockingly, Happer and Lindzen point out that the almighty Intergovernmental Panel on Climate Change (IPCC), where Lindzen was an early lead author, is government-controlled and only issues government-dictated findings. Thus, it provides no reliable scientific evidence for the proposed SEC rule around climate change. Elaborating on this egregious catastrophe further and noting that “no government has the right to decide on the truth of scientific principles,” the pair shared: “Unknown to most, two IPCC rules require that IPCC governments control what it reports as “scientific” findings on CO2, fossil fuels, and manmade global warming, not scientists. IPCC governments meet behind closed doors and control what is published in its Summaries for Policymakers (SPMs), which controls what is published in full reports.” As governments ban fertilizer under the guise of climate change, like what is occurring in the Netherlands, Happer and Lindzen insist that reducing fossil fuels and CO2 would have “disastrous consequences” on everyone, including the poor, for generations. According to the duo, the current 415 parts per million (ppm) of atmospheric CO2 is not dangerously high. In fact, it is near a record low, adding that 600 million years of CO2 and temperature data “contradict the theory that high levels of CO2 will cause catastrophic global warming.” [MORE IMAGES and VIDEOS] The demon that is the climate change hoax is immoral. The children of our future do not deserve a fate rooted in fear and entrapped in technology. We are at battle and need to support brave souls like Lindzen, Happer, and those who have courageously held on to freedom during COVID-19. As China manipulates weather and mainstream media downplays promising news at Australia’s Great Barrier Reef, the omission of positive data that doesn’t serve the authoritarian agenda of the Great Reset—which president Joe Biden is heavily pushing—is a reckless and severe violation of scientific method. The propaganda train behind the climate change narrative is the same one humanity has been fighting surrounding COVID-19 for almost three years. There is no option but to keep fighting.
  18. (circa 2006) Gary Franchi interviews Chicago Federal Reserve Bank’s Jerry Nelson. One of the questions asked was: “People have often questioned about the Federal Reserve being a private bank or a private corporation. Is that in fact true?” ANSWER: “It is. …We are literally owned by the banks in our district….” QUOTES “…the insatiable foreign demand for our $100 dollar bills. They don’t use them as a medium of exchange overseas. They use them as a store of value. (countries listed)…” “…a hundred dollar bill costs us 7 cents…in the interim, American commerce and industry doesn’t give them away. We are getting 100 dollars worth of something…Belgium chocolate, French wine…for something that costs us 7 cents. It is not a bad markup…They can have all they want. Almost none never comes back….” (15 MINUTE VIDEO) If you watch Corbett Report’s Documentary “Century of Enslavement: The History of The Federal Reserve” you would find out more about the owners and controllers of money supplies. -
  19. Last week
  20. Not as bad as the Kurds, why you would even put the Saudis in your response is laughable
  21. A Worrying Signal From Oil Traders Of A European Recession by Tyler Durden Saturday, Aug 13, 2022 - 07:10 AM Authored by Irina Slav via, While politicians and economists might debate exactly what constitutes a recession, the reality of an economic slowdown is impossible to ignore. The most recent signal that Europe may soon face a recession comes from oil traders, who are selling European gas oil futures while buying U.S. diesel futures. It is not surprising that Europe is more at risk of a recession than the U.S. as it is hugely vulnerable to an energy shortage and will have to pass the high prices on to consumers. Recession has always been a politically sensitive word. Today, it has become so sensitive that some economists and politicians are trying to redefine it to make it lose some of its sting. The reality of a recession, however, is impossible to redefine. In Europe in particular, consumers are feeling the slowdown in economic growth in their wallets, and so are traders. There is one big difference between the two though. When a recession is looming, consumers curb spending. Traders, on the other hand, begin selling. Reuters’ John Kemp reported in his latest hedge fund column that hedge funds and other institutional traders sold the equivalent of 1 million barrels of European gas oil futures over the past three weeks. While this may not sound like a lot, over the last six weeks, total sales have added up to 20 million barrels. A significant reduction in the net position of traders. Across the Atlantic, hedge funds and money managers have been buying U.S. diesel futures and options, increasing their position by 13 million barrels over the last three weeks. Kemp suggests this is a signal that the economic outlook of U.S. traders is brighter than that of their European peers. It might be that U.S. traders are simply looking to profit from the diesel shortage Kemp himself wrote about earlier this month. He noted that U.S. distillate fuel inventories have fallen to critical levels, and it would take a recession to remedy things by destroying demand. Otherwise, diesel prices will only continue rising and traders would buy diesel futures. Be that as it may, the danger of recession in Europe is certainly a lot more serious from an energy perspective. Unlike the U.S., which is rather self-sufficient when it comes to natural gas, Europe has revealed itself to be as embarrassingly dependent on imports of the commodity. A dash for gas has followed, where Europe is scouring the world for friendly gas, under a spot contract, if possible. It has not always been possible. As a result of this, Europe is now diverting cargoes from Asia, which is not making it any friends there, and trying to consume less energy. Thanks to excessive prices, it is consuming less energy. Germany is preparing for energy rationing for industrial users and encouraging household austerity. Spain is mandating air-conditioners be kept at 27 degrees or above. And Norway just announced that it would curb its electricity exports to the EU. Norwegian electricity normally goes to the UK, Germany, the Netherlands, and Denmark. However, hydropower output, which accounts for the bulk of Norway’s total electricity output, has been low this year, and the country is trying to secure local sufficiency. More bad news for struggling Europe, where renewable power output remains uneven. The picture is not pretty, and earlier this month, the IMF signaled it could become even worse as it advised European governments to pass on the additional energy costs to consumers to encourage energy savings. The fund argued that financial aid only keeps energy consumption high when it should be going down. Meanwhile, Nomura analysts recently forecast that the eurozone, along with the UK, the U.S., South Korea, Australia, and Canada, are among the countries facing recession in 2023. “Right now central banks, many of them have shifted to essentially a single mandate — and that’s to get inflation down. Monetary policy credibility is too precious an asset to lose. So they’re going to be very aggressive,” Nomura’s head of global markets research, Rob Subbaraman, said last month. Add to this central bank aggressiveness the equally aggressive stance the EU is taking in its standoff with Russia, and there’s a recipe for recession right there. Reuters’ Kemp predicted that at least four European economies will fall into a recession before the year’s end. Unfortunately, it’s the four largest - Germany, France, Italy, and Britain - which means the pain will be felt across the bloc and the rest of Europe, too. The silver lining: fuel prices might begin to fall once a recession settles in.
  22. Why Solar Power Is Failing Amid Record-Breaking Heat By Felicity Bradstock - Aug 12, 2022, 5:00 PM CDT Solar panels work optimally at around 25oC. This summer brought record-breaking heat, with temperatures reaching as high as 40oC in the UK. Solar panels become less efficient as temperatures rise.
  23. One of the problems with the energy market is latest cheapest product can be cannibalized long before their life cycle is reached. Mother Nature and Putin types can give the popular nat gas a bad name. Let’s say a 33% more efficient solar panel is invented. All your existing panels you can yank and trash. Who said investing is easy. Is there a report on how many wind turbines make it 25 years without being obsoleted or upgraded. We pick on coal but most energy is replaced except maybe old nuke and hydro dams.
  24. Phase 2 of project approvals is great boost to jump start carbon capture, but all projects are needed if UK is to meet climate goals, industry body OEUK says. View the full article
  25. Exxon Mobil Corp. renewed two deepwater leases in Nigeria for 20 years, among the first permits granted under the country’s new oil and gas law. View the full article
  26. The World Oil judging team selected finalists for each of the 18 categories from a pool of 303 nominations. The winners will be announced at the 2022 World Oil Awards ceremony on Oct. 13 in Houston, Texas. View the full article
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