Be kinde to folk. This changeth the whole habitat.
- Manlobbi
Halls of Shrewd'm / US Policy
No. of Recommendations: 7
I maintain, it was *not* a coincidence that Trump the Conqueror seized Venezuela's oil reserves, before starting the war with Iran.
US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war
The Treasury issued a broad authorization allowing Petróleos de Venezuela S.A, or PDVSA, to directly sell Venezuelan oil to U.S. companies and on global markets, a massive shift after Washington for years had largely blocked dealings with Venezuela’s government and its oil sector.
The U.S. license provides targeted relief from sanctions, but does not lift the penalties altogether. The license allows companies that existed before Jan. 29, 2025, to buy Venezuelan oil and engage in transactions that would normally be banned under American sanctions, reopening trade for a major oil producer to global markets.
Payments cannot go directly to sanctioned Venezuelan entities such as PDVSA, but must be sent instead to a special U.S.-controlled account. In other words, the U.S. will allow the oil trade but will control the cash flow.https://www.msn.com/en-us/money/markets/us-eases-v...Steve
No. of Recommendations: 10
I maintain, it was *not* a coincidence that Trump the Conqueror seized Venezuela's oil reserves, before starting the war with Iran.
To believe that you would also have to believe that Trump is capable of making strategic decisions and following through with a plan, which seems terribly unlikely based on history.
But more to the point, while Venezuela has slightly increased production, it is barely a drop in the world market. In 2023 it was producing about 750,000 bbls daily. 2024: 800,000. 2025: 900,000. So far in 2026 it fluctuates between 950,000 and 1.1m. The infrastructure is so degraded and it has been mismanaged for so long it would take serious investment and time to significantly improve that production.
By contrast, the world daily production is between 85 million and 105 million bbl, so you’re looking at an increase of one-tenth of one percent (0.1%) in daily stocks of oil. Someday Venezuela could be a big enough producer to influence things, it sits atop some of the largest proven reserves on the planet - but for now, pfft.
No. of Recommendations: 4
To believe that you would also have to believe that Trump is capable of making strategic decisions and following through with a plan, which seems terribly unlikely based on history.
I assume God and Savior Trump has the best advice money can buy. There is persistent chatter that, in the summer of 2024, Trump the God offered big oil "everything it wants", for a $1B "donation". I expect he has been receiving "advice" ever since. I expect the upcoming meeting chaired by Vance, hosted by the API, will offer more "advice" to the regime.
By contrast, the world daily production is between 85 million and 105 million bbl, so you’re looking at an increase of one-tenth of one percent (0.1%) in daily stocks of oil.
Thanks to the constraint on supply, the profit gain will be wildly disproportionate to the volume gain. And, keep in mind, the crude inventory "much higher than expected" increases over the last several weeks. Big oil has capacity to increase domestic production, as well as increasing production in VZ. As soon as Trump the Conqueror bought off the VZ regime, Chevron said it could increase production significantly, with little additional work. These increases in US controlled production may be minor, compared to global production, but the profits won't be minor.
In the distant past, "Rant #1" held that the objective of invading Iraq was to take their production off line, to tighten supplies, to increase prices and profits, for the big oil cronies of the Bush junta. Trump the Magnificent is doing an even better job, blowing up the entire Persian Gulf.
Steve
No. of Recommendations: 1
In the distant past, "Rant #1" held that the objective of invading Iraq was to take their production off line, to tighten supplies, to increase prices and profits, for the big oil cronies of the Bush junta. Trump the Magnificent is doing an even better job, blowing up the entire Persian Gulf.
But then - how will Rep Congress members be reelected if energy prices go through the roof?
No. of Recommendations: 3
But then - how will Rep Congress members be reelected if energy prices go through the roof?
As offered in another thread, the price of fuel, or anything else, is only a political problem if there is a "free and fair" election this fall.
Steve
No. of Recommendations: 2
But then - how will Rep Congress members be reelected if energy prices go through the roof?
1) cheat
2) steal
Like Trump has taught them.
Did you see that dunderhead Mullin refusing to say that Biden had won the election in 2020? Trump will tolerate no underling who does not support his very BIG LIE.
