jetch17 said:

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Early trading with WTI at $125 ahead of Monday

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It was as high as $130.

All-time record is 147.27 I believe ...

Brent was almost to 140 earleir, up to about 130 now.

This is fun.

Psaki with the gaslighting. Thread.

1. Production is up, rising, and approaching records, yet Russia’s actions still leave our consumers vulnerable. It’s a reminder that real energy security comes from reducing our dependence on fossil fuels

— Jen Psaki (@PressSec) March 6, 2022

Oil, Coal, Wheat... Ouch.

This is not oil, a meme stock or even a shitcoin. It’s wheat pic.twitter.com/6Wd1CzEakR

— Not Jerome Powell (@alifarhat79) March 6, 2022

aginlakeway said:

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jetch17 said:

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Early trading with WTI at $125 ahead of Monday

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It was as high as $130.

All-time record is 147.27 I believe ...

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But that as when the dollar was real money.

will25u said:

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Get ready for the pain at the pump. Highest since 2014.

U.S. oil prices have spiked to a seven-year high of $90, reaching their highest rates since @BarackObama was in the White House.https://t.co/TPsp3l0iu0

— Real America's Voice (RAV) (@RealAmVoice) February 8, 2022

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27 days…

We had no idea we were living in the good ol' days 27 days ago.

Average here in my part of GA is ~$4. Seen as high as $4.30.

Go around begging for more oil, they said...

🚨 🚨 scoops -> President Biden’s advisers are discussing a possible visit to Saudi Arabia this spring to help repair relations and convince the Kingdom to pump more oil, Axios has learned. https://t.co/Xfzl57agv8

— Jim VandeHei (@JimVandeHei) March 6, 2022

So dumb. Would be much easier to expedite review and issuance of new drilling permits in the United States.

Also, get Congress to approve loan guarantees for permanent financing and directly originate zero interest construction loans for new nuclear power plants and for projects that extend the operational life of existing ones. And streamline / expedite permits.

Oil traders believe the ongoing Russian-Ukraine war and its international fallout could drive up prices this month, with some optimistic traders eyeing a price over $200 per barrel

Www.foxbusiness.com

ABATTBQ87 said:

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Oil traders believe the ongoing Russian-Ukraine war and its international fallout could drive up prices this month, with some optimistic traders eyeing a price over $200 per barrel

Www.foxbusiness.com

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Man $200/barrel will absolutely crush the economy.

Why Biden is still even in office is beyond me. Our leadership will destroy this country before 2024.

So about 5p on Friday gas was around $115. This weekend it shot up to $130. Since then, it has retracted back to $115 this morning, and is now starting back upwards. $121 currently.

will25u said:

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Go around begging for more oil, they said...

🚨 🚨 scoops -> President Biden’s advisers are discussing a possible visit to Saudi Arabia this spring to help repair relations and convince the Kingdom to pump more oil, Axios has learned. https://t.co/Xfzl57agv8

— Jim VandeHei (@JimVandeHei) March 6, 2022

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why does this dementia patient constantly hug his folders and notebooks??!?!

At 6.00 per gallon, it costs me $90.00 to fill my tank. It used to cost me $30. I used to spend $175 each week at the grocery store. My bill has been over $225 for roughly the same stuff.

There is no way any Democrat should be elected to any federal office ever again.

— Steve (@oldguy_steve) March 7, 2022

Coping mechanism for Dementia.

I'm betting on $200 by end of March. Maybe by the end of next week.

So is the next revolution just going to be ignoring a dude in an office that says you can't work/produce?

After a slight reprieve, oil is headed back up today.
$110/bbl

The Russians have called the US ambassador to the kremlin, and are threatening to drive prices to $300.

If they do in fact cut off Europe and the US, I could see it happening (but they will have to maximize shipments to China/India etc.)

nortex97 said:

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The Russians have called the US ambassador to the kremlin, and are threatening to drive prices to $300.

If they do in fact cut off Europe and the US, I could see it happening (but they will have to maximize shipments to China/India etc.)

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Saudi Arabia is responsible for about 16% of global oil production with Russia sitting at 14%.

If Russia completely turns off the spigot, oil goes to the moon. Even just cutting off Europe and North America could easily reach $300.

Meanwhile there are people I'm seeing that seriously argue that it's worth it to pay these prices so we can help put it to Putin. They have zero idea the destruction that the pricing we're already experiencing will bring to the economy (much less what is possible if it goes up) or they're so far gone into partisan politics that they are beyond redemption.

I'd do it it I were Putin. The temporary cash hit for him would be much less painful than a cold and dark Germany. The Germans would capitulate quickly IMO.

annie88 said:

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At 6.00 per gallon, it costs me $90.00 to fill my tank. It used to cost me $30. I used to spend $175 each week at the grocery store. My bill has been over $225 for roughly the same stuff.

There is no way any Democrat should be elected to any federal office ever again.

— Steve (@oldguy_steve) March 7, 2022

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No Lies Detected

LMCane said:

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will25u said:

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Go around begging for more oil, they said...

🚨 🚨 scoops -> President Biden’s advisers are discussing a possible visit to Saudi Arabia this spring to help repair relations and convince the Kingdom to pump more oil, Axios has learned. https://t.co/Xfzl57agv8

— Jim VandeHei (@JimVandeHei) March 6, 2022

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why does this dementia patient constantly hug his folders and notebooks??!?!

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Idiot.

You know how to make the Saudis pump oil? Scare them with the US re-emerging as the world's swing producer where they again lose control of the market. It's really not that difficult. Use some of the massive amounts of stimulus floating around to execute hedges with producers so they can lock in a floor on pricing for whatever time it takes to make a reservoir or we'll economic. There'd be a flood of US oil within 6 months, but it probably wouldn't even take that long for the Saudis to decide it's best to make those hedges expensive for the US government or hold off the policy all together by ramping production now.

If you want the policy to force the Saudis and OPEC to manage a ceiling on oil prices, set it up so the hedging program can be utilized by producers whenever prices rise about $90/bbl (or whatever price you want to set.)

I'm not surprised but he has clearly learned nothing by the stranglehold Russia currently has on Germany.

Gerhard Schroeder is still on the Gazprom board. The Germans basically said they can't cut off Russian gas/oil just today, full surrender monkey style.

GERMAN GOVT SPOKESPERSON SAYS GOVERNMENT MAINTAINS STANCE THAT GERMANY CANNOT DO WITHOUT OIL IMPORTS FROM RUSSIA

— *Walter Bloomberg (@DeItaone) March 21, 2022

And imagine the indirect influence Putin would exert over the EU with Germans sitting in the dark until sanctions are dropped and the EU disconnects Ukraine from the European power grid.

The damage to Germany's economy would probably be as bad as what sanctions are doing to Russia's. And Putin really has nothing to lose now that Germany is executing long term supply agreements with others. Putin's going to lose Germany as a primary customer so might as well use that influence while he has it.

Putin will rip Europe in two if he cuts off their oil and gas.

The Germans will be forced into a position of having to try to block EU and nato contributions to Ukraine and the Poles will tell them to go to hell.

Sounds like a good strategy if you're Putin

annie88 said:

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At 6.00 per gallon, it costs me $90.00 to fill my tank. It used to cost me $30. I used to spend $175 each week at the grocery store. My bill has been over $225 for roughly the same stuff.

There is no way any Democrat should be elected to any federal office ever again.

— Steve (@oldguy_steve) March 7, 2022

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get ready to hear "Putin's gas spike" about 1,000 times between now and November 5

LostInLA07 said:

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LMCane said:

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will25u said:

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Go around begging for more oil, they said...

🚨 🚨 scoops -> President Biden’s advisers are discussing a possible visit to Saudi Arabia this spring to help repair relations and convince the Kingdom to pump more oil, Axios has learned. https://t.co/Xfzl57agv8

— Jim VandeHei (@JimVandeHei) March 6, 2022

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why does this dementia patient constantly hug his folders and notebooks??!?!

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Idiot.

You know how to make the Saudis pump oil? Scare them with the US re-emerging as the world's swing producer where they again lose control of the market. It's really not that difficult. Use some of the massive amounts of stimulus floating around to execute hedges with producers so they can lock in a floor on pricing for whatever time it takes to make a reservoir or we'll economic. There'd be a flood of US oil within 6 months, but it probably wouldn't even take that long for the Saudis to decide it's best to make those hedges expensive for the US government or hold off the policy all together by ramping production now.

If you want the policy to force the Saudis and OPEC to manage a ceiling on oil prices, set it up so the hedging program can be utilized by producers whenever prices rise about $90/bbl (or whatever price you want to set.)

I'm not surprised but he has clearly learned nothing by the stranglehold Russia currently has on Germany.

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Yea, well he is a SFB, so, doubt he and his handlers can think like that.

Quote:

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https://www.zerohedge.com/markets/russia-demand-hostile-states-pay-rubles-gas

Russia To Demand "Hostile States" Pay In Rubles For Gas

During an address to the nation moments ago, Vladimir Putin said that Russia will demand that countries it has labeled "unfriendly" (which includes U.S., U.K., and European Union countries) must pay in rubles for Russian gas, Interfax reported. As a result, Putin ordered the central bank and government in a week's time to determine the scheme of ruble payments for Russian gas, and also ordered Gazprom to make corresponding changes to gas contracts.

Putin also said that Russia will continue supplying contracted volumes, will only change payment currency.

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It's going to be interesting to see where oil and gas go from here.

He's got Germany and others in the EU by the balls.....
option 1: suck it up and pay in rubles
option 2: turn off their industrial gas supply, buy LNG from the US and pay through the roof.