Blogs

Ignoring Economic Reality

Trump and Hillary have come out with the obligatory “economic plans.” Neither them nor their advisors, have any idea about what really needs to be done, but this is of no concern to the media.

The presstitutes operate according to “pay and say.” They say what they are paid to say and that is whatever serves the corporations and the government. This means that the presstitutes like Hillary’s economic plan and do not like Trump’s.

New Well Productivity Triples in the Utica; Gasoline Supplies at a Summertime High

Wednesday's release of US oil data for the week ending July 15th by the US Energy Information Administration indicated that our oil imports rebounded back to above recent averages, that our refineries ramped back up to seasonal levels to use all of those extra imports, and as a result another small portion of our monstrous glut of crude oil was converted into a glut of refined products.

Oil Crashes on Brexit, Oil Imports at a 42 Month High, Record Gasoline Output and Usage

Oil prices crashed along with global financial markets on Friday following the British vote on Thursday to exit the European Union (typically referred to as "Brexit"), which is widely expected to precipitate a period of political instability in Europe.

What the EIA Doesn’t Tell Us When Comparing US Output to that of Russia & Saudi Arabia

On Monday of last week, the U.S. Energy Information Administration posted an article on their daily blog (Today in Energy) titled "United States remains largest producer of petroleum and natural gas hydrocarbons"..  The article featured a graph of our production of gas and oil vis a vis that of Russia and Saudi Arabia and went on to tell the familiar story about how fracking made it possible for our output of gas and oil to pass that of Russia in 2012

Oil Inventories Drop by 3.4 Million Barrels as EIA Fudge Factor Swings by 664,000 Barrels Per Day

This Wednesday's Petroleum Status reports for the week ending May 6th from the Energy Information Administration indicated that our crude oil production fell a bit once again and that our imports of oil were virtually unchanged, while US refineries saw another modest increase in the amount of oil that they used.

Bets Drive Oil Prices Up 20% In April Despite New Inventory Records Each Week

Oil prices, and prices for everything that is refined from oil, continued to head up last week, something you don’t need me to tell you if you've bought gasoline lately.  There has been no fundamental change in the global oversupply situation that would account for higher prices, however, but rather a change in the betting positions of oil speculators.

Corporate World Takeover Through Trade

The new trade deals Trans-Atlantic & Trans-Pacific “Partnerships” complete the corporate world takeover  As I have emphasized since these “partnerships” were first announced, their purpose is to give corporations immunity from the laws in the countries in which they do business.  The principle mechanism of this immunity is the granting of the right to corporations to sue governments and agencies of governments that have laws or regulations that impinge on corporate profits.

Crude Inventories Fall for 1st Time in 8 Weeks; Refined Products at Another Record

This week's oil data from the US Energy Information Administration showed that our oil inventories fell for the first time in 8 weeks, as our imports of oil also fell to their lowest in 8 weeks, and refiners used more crude than they had in any prior week this year.

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