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What are the odds of that?
Three Random Fires Happen at Three Separate Oil Refineries in Mexico on Same Day
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The energy playing field is shifting. It’s fascinating geo politics. Seems like the EU and Americas going one way and Asia, Russia and Middle East another. Japan might be the odd man out.
I think we are holding an extremely weak hand with our leadership and I include Canada and the EU. A bunch of green fools are running the show. Where did they come from? And our adversaries know we’re in a corner.
Some scores are going to be settled including that Nord Stream Pipeline. I hope they put the breaks on this mess PDQ.
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Re: geopolitics, I’ve been listening to this guy lately. I don’t know if he’s full of it, but he’s sure entertaining:
How Stable Is the Russian Oil Industry? – Zeihan on Geopolitics
A Ukraine War and the End of Russia—Repost – Zeihan on Geopolitics
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Larry Kudlow did a segment last week going over the numbers. He said Russia is still selling 10 million barrels a day – same as a year ago. Up until that point the price was around $6o/barrel pre covid Trump years. That same barrel gets $80 today. China and our friend India make up the lost EU revenue. Today’s price gets Putin $295 Billion/year as opposed to $219 billion pre war. That’s plus $75 Billion a year. Enough to fight a war with some left over. Putin is playing with house money but we are the house. Pre Covid we were at 13 plus million barrels a day. Right now we are at 12. That is Biden’s war on oil. Putin saw the opening last year when oil hit $100 and walked into Ukraine. He did exactly the same thing in 2008 when oil went over $100 and took most of Georgia. He did the same thing in 2014 when oil hit $100 and picked off Crimea.
WE are subsidizing HIM and drawing down our strategic reserves.
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