President Biden’s Nuclear Option Against OPEC+ - Waste of Time

[Muhammad Rashid + 5]

President Biden’s Nuclear Option Against OPEC+ - Wasting of Time - Legal Assertions. No Implications on International Law - Opec + does not equal to standard oil.

[notsonice + 1,266]

4 minutes ago, Muhammad Rashid said:

President Biden’s Nuclear Option Against OPEC+ - Wasting of Time - Legal Assertions. No Implications on International Law - Opec + does not equal to standard oil.

Opec + does not equal to standard oil.???? yep, OPEC is much worse than Standard Oil....Criminal organization that uses oil as a weapon

Edited December 1, 2021 by notsonice

[Muhammad Rashid + 5]

What'd you think about Duetche Bank ?

 

[Muhammad Rashid + 5]

Are you a banker? 

Three major US banks make up half of 2020’s $11.39bn fine total

[Tomasz + 1,608]

Well OPEC+ saved the ass of the American shale oil last year so that it would not go bankrupt and ended the US shale oil bond saga as as  a new second Leman Brothers Bank to big to fail and now someone  is now talking something about the nuclear option against OPEC?

Take a final decision for Gods sake in the US whether OPEC is cool or not but not with every US new government team there is a 180-degree change in atitude.

Whole world now know the whole history about Iran nuclear dea.? For Obama it was cool for Trump it was disaster for Biden it seems to be cool but for second Trump it will a reason for nuclear war?

Sorry but US is no longer a reliable worldpower anymore.

Edited December 4, 2021 by Tomasz

[Piotr Berman + 82]

As actual nuclear issues are on international agenda, some involving OPEC members, I had to use a web search.

By ARI NATTER on 11/18/2021

WASHINGTON (Bloomberg) - Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly.

The “No Oil Producing and Exporting Cartels Act” -- known as NOPEC -- would allow the U.S. government to sue members of the Organization of Petroleum Exporting Countries for manipulating the energy market, potentially seeking billions of dollars in reparations.

The legislation faces difficult odds amid concerns about diplomatic fallout that has led the State Department to oppose it in the past. But the House Judiciary Committee did approve the latest iteration by a voice vote in April. A Senate version has attracted sponsors from across the political spectrum, from Iowa’s conservative Republican Chuck Grassley to Vermont’s liberal Democrat Patrick Leahy. No floor votes have been scheduled.

“We’ve been talking to a number of members about it,” Leahy said in an interview Wednesday. He said he intended to discuss the legislation in a floor speech.

---------------

It is hard to ascribe "good intentions" to the authors of the laws mentioned here.  They believe in "rules based world order" where rules are defined by USA, for the benefit of USA as perceived by the elite, all too often myopic.  "Potentially seeking billion of dollars in reparations" that are defined by "impartial" judges in USA.  If the lawsuit are toothless, they make USA looking toothless, even worse, some teeth may be lost in the process.  But suppose that USA can size assets required to "pay reparations".  The conclusion of the victims would be to refrain from having foreign assets that can be confiscated, thus cutting down on oil exports when the prices are high, and on consumption when the prices are low.  Not as convenient as parking abroad profit in the fat years and consuming them in the lean years, but safer.  But that would have a very depressive impact on the world economy, including USA.

But it is even worse for USA.  Parking profits in countries that solemnly promise not to confiscate them under the pretense of reparation would be OK, so in the fat years it would be OK to sell more and on better terms to countries that make "no reparations" promise, and cut to other countries.  That would create a structural disadvantage for USA and allies that would cooperate with USA on that issue.

My scenarios are speculative, but enormous unwanted consequences are bound to happen, would enforcement of NOPEC laws actually happen.  

 

[ronwagn + 6,290]

On 12/3/2021 at 7:03 PM, Tomasz said:

Well OPEC+ saved the ass of the American shale oil last year so that it would not go bankrupt and ended the US shale oil bond saga as as  a new second Leman Brothers Bank to big to fail and now someone  is now talking something about the nuclear option against OPEC?

Take a final decision for Gods sake in the US whether OPEC is cool or not but not with every US new government team there is a 180-degree change in atitude.

Whole world now know the whole history about Iran nuclear dea.? For Obama it was cool for Trump it was disaster for Biden it seems to be cool but for second Trump it will a reason for nuclear war?

Sorry but US is no longer a reliable worldpower anymore.

Who do you think is a reliable world power? Russia, nibbling at territory with stealth wars, pretending to have historical rights? China, who has taken over Tibet, Mongolia, Hong Kong, Xinjiang, and Manchuria. 

There would be no free Russia today if they did not have nuclear weapons. Putin is an idiot to challenge the West when Russia should be an ally as in WW2. He may be able to nibble more but the price will be too great. Europe should stand in solidarity with Ukraine. https://en.wikipedia.org/wiki/History_of_Ukraine

https://www.globalsecurity.org/military/world/russia/images/map-russian-expansion-1.jpg

Edited December 6, 2021 by ronwagn
reference

[Andrei Moutchkine + 828]

On 12/1/2021 at 7:18 PM, notsonice said:

Opec + does not equal to standard oil.???? yep, OPEC is much worse than Standard Oil....Criminal organization that uses oil as a weapon

Criminal cartels "using oil as a weapon" used to be OK when they were your criminals?

https://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)

Used to control 85% of world's oil reserves before 1973. Today, only about 7%, with 65% controlled by governments of nations where the oil is actually extracted. More pigmys wisen up and reject your shiny beads. Tough luck. Evolve or croak.

[Andrei Moutchkine + 828]

22 hours ago, ronwagn said:

Who do you think is a reliable world power? Russia, nibbling at territory with stealth wars, pretending to have historical rights? China, who has taken over Tibet, Mongolia, Hong Kong, Xinjiang, and Manchuria. 

There would be no free Russia today if they did not have nuclear weapons. Putin is an idiot to challenge the West when Russia should be an ally as in WW2. He may be able to nibble more but the price will be too great. Europe should stand in solidarity with Ukraine. https://en.wikipedia.org/wiki/History_of_Ukraine

https://www.globalsecurity.org/military/world/russia/images/map-russian-expansion-1.jpg

AFAIK, there was never a specific imperative to expand territoriality or at least there isn't now. We've got space. If the Ukrainians turn around. they might still be accepted back. Or not, being way broke. Nobody is forcing them. Those who wanted to return, have spoken, both in Crimea and Donbass.  If there is any truth to the current scare about impeding Russian attack, somebody is trying to get Ukraine to launch an all-out attack on LDNR, get Russia to intervene , than make it look like Russia attacked first. I surely hope that Ze is not stupid enough to fall for that one.

You stand united with Ukraine in what, exactly? Murdering their own citizens? Not fulfilling a single point in the Minsk agreements they signed? Sure, you are welcome to, but you will be are the ones sponsoring the party more and more. Say, what's the big deal about Ukrainian gas transit moving to North Stream 2? Aren't they officially not buying any since like 2015? I am certain I heard they are buying at the Dutch TTF hub prices, as a "virtual reverse". This means, they tap the Russian gas going to Europe the regular way, pay the TTF spot to some shell companies of their own and that stick regular Ukrainians with the new tariffs. With the difference pocketed by a few local oligarchs and their Western handlers. What if they'll have to actually reverse the pipe to get the gas from Europe, and actually pay the TTF for it, with no spread to pocket? What a calamity!

Putin was very right at challenging the West. We should arm up and increase our current lead in weapons tech. More and more Russians are waking up to the fact that the West is not our friend. Never was, and never will be. Feeling comfortable Asiatic.