Halls of Shrewd'm / US Policy
No. of Recommendations: 17
"It becomes clearer with each passing day that the people who took us to war with Iran had and have no idea what they’re doing — that they’re adolescents who think they’re playing video games while thousands die and the world careens toward economic crisis. The New York Times reports that Trump officials dismissed warnings that attacking Iran could disrupt world oil supplies. Among other things, the Times reports that
Mr. Trump, both publicly and privately, has been arguing that Venezuelan oil could help solve any shocks coming from the Iran war.
In 2024 Venezuela produced 900,000 barrels of oil per day; normally 20 million barrels a day transit the Strait of Hormuz. But arithmetic has a well-known woke bias." —Paul Krugman, Winner of the Nobel Prize in Subtraction
No. of Recommendations: 3
In 2024 Venezuela produced 900,000 barrels of oil per day; normally 20 million barrels a day transit the Strait of Hormuz. But arithmetic has a well-known woke bias." —Paul Krugman, Winner of the Nobel Prize in Subtraction
Trump the God said it openly: Shinyland gets first dibs on every drop from Venezuela. According to the net sifter, the US imports 6.5Mbpd. About 4.3 comes from Canada, and that oil has no other means of getting out of Canada, as the one pipe to the Pacific is already running near capacity. Add all the output from Venezuela, and, throw in a bit from the SPR, and the US is golden. By the time the SPR runs dry, Venezuelan and US production will be ramped up.
But...while the US will not be short of oil, USians will be paying the global price, because big oil profits are more important than "affordability".
Bubblevision showing WTI around $95 and Brent around $100 at the moment.
Steve
No. of Recommendations: 4
Paul Krugman is Keith Oblerman, but with a Noble Prize in Economics.
No. of Recommendations: 16
Paul Krugman is Keith Oblerman, but with a Noble Prize in Economics.
Donald Trump is a clown.... but with a flame thrower.
No. of Recommendations: 8
"Paul Krugman is Keith Oblerman, but with a Noble Prize in Economics." - Marco the Russian Clown
Both of them are smarter than some dumb Russian sitting in a Moscow bunker trying to avoid being shipped to Ukraine.
