BIDEN’S LETTER TO EXXON RE HIGH GAS PRICES AND EXXON’S RESPONSE
Thursday, June 16th, 2022
BIDEN’S LETTER TO EXXON REGARDING HIGH GAS PRICES
EXXON’S RESPONSE TO BIDEN’S LETTER
Archive for the ‘Oil Industry’ Category
SAUDI ARABIA CONSIDERS ACCEPTING CHINESE YUAN INSTEAD OF DOLLARS FOR CHINESE OIL SALES
Wednesday, March 16th, 2022
This is a potentially huge negative issue for the U.S. Tucker Carlson was also talking about this development on his show tonight. Nancy
THE WALL STREET JOURNAL
Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales
Talks between Riyadh and Beijing have accelerated as the Saudi unhappiness grows with Washington
Updated March 15, 2022
Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia.
The talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom, the people said.
The Saudis are angry over the U.S.’s lack of support for their intervention in the Yemen civil war, and over the Biden administration’s attempt to strike a deal with Iran over its nuclear program. Saudi officials have said they were shocked by the precipitous U.S. withdrawal from Afghanistan last year.
China buys more than 25% of the oil that Saudi Arabia exports. If priced in yuan, those sales would boost the standing of China’s currency. The Saudis are also considering including yuan-denominated futures contracts, known as the petroyuan, in the pricing model of Saudi Arabian Oil Co. , known as Aramco.
It would be a profound shift for Saudi Arabia to price even some of its roughly 6.2 million barrels of day of crude exports in anything other than dollars. The majority of global oil sales—around 80%—are done in dollars, and the Saudis have traded oil exclusively in dollars since 1974, in a deal with the Nixon administration that included security guarantees for the kingdom.
China introduced yuan-priced oil contracts in 2018 as part of its efforts to make its currency tradable across the world, but they haven’t made a dent in the dollar’s dominance of the oil market. For China, using dollars has become a hazard highlighted by U.S. sanctions on Iran over its nuclear program and on Russia in response to the Ukraine invasion.
China has stepped up its courtship of the Saudi kingdom. In recent years, China has helped Saudi Arabia build its own ballistic missiles, consulted on a nuclear program and begun investing in Crown Prince Mohammed bin Salman’s pet projects, such as Neom, a futuristic new city. Saudi Arabia has invited Chinese President Xi Jinping to visit later this year.
Saudi Foreign Minister Faisal bin Farhan met Chinese Foreign Minister Wang Yi in China in January.
PHOTO: ANONYMOUS/ASSOCIATED PRESS
Meanwhile the Saudi relationship with the U.S. has deteriorated under President Biden, who said in the 2020 campaign that the kingdom should be a “pariah” for the killing of Saudi journalist Jamal Khashoggi in 2018. Prince Mohammed, who U.S. intelligence authorities say ordered Mr. Khashoggi’s killing, refused to sit in on a call between Mr. Biden and the Saudi ruler, King Salman, last month.
VIDEO-KASH PATEL-RUSSIA/UKRAINIAN WAR
Saturday, March 5th, 2022
VIDEO – KASH PATEL
“[Putin] does not care about what America might do.” American national security prowess has suffered a “precipitous downfall” on the global stage, says Kash Patel. “That’s not good, and I don’t know how we get that back in the near term.”
In this episode of Kash’s Corner, we discuss the Russia-Ukrainian war and President Biden’s remarks in the State of the Union.
THANK ENVIRONMENTALISTS FOR UKRAINE INVASION
Friday, February 25th, 2022
Nolte: You Can Thank Environmentalists for the Invasion of Ukraine
By John Nolte February 24, 2022
It is the West’s wacko environmentalists who handed Russian President Vladimir Putin the leverage and money to invade Crimea in 2014 and Ukraine this week.
Without these wackos, Putin would be just another gangster in charge of a crumbling country, and maybe one on the verge of a revolution to depose him.
But the facts are the facts are the facts, and the facts are these… Thanks to the West’s environmentalists, those smug greenies who are more concerned with carbon output than world peace, this gangster controls much of the energy going to the European Union (E.U.). Per Statista, here are the countries most dependent on Russia for natural gas. The percentages tell us just how dependent:
- North Macedonia (100 percent)
- Finland (94 percent)
- Bulgaria (74 percent)
- Slovakia (70 percent)
- Germany (49 percent)
- Italy (46 percent)
- Poland (40 percent)
- France (24 percent).
It gets worse.
As of 2019, a full 27 percent of the European Union’s crude oil, 41 percent of its natural gas, and 47 percent of its solid fuel (mostly coal) come from Russia.
Why?
Well, it’s very simple. Russia is not stupid. Putin is not stupid. He drills and digs and fracks while Western countries pat themselves on the back for closing coal mines, refusing oil leases, and shuttering nuclear power plants. And in doing so, even at the expense of giving the gangster Putin leverage over them, these Western countries pat themselves on the back for decreasing their carbon footprints and going green…
Russian President Vladimir Putin (Vyacheslav Prokofyev, TASS News Agency Pool Photo via AP)
Meanwhile, Putin is given control over the very thing that allows Western Civilization to remain Western Civilization: energy.
VIDEO – MONOPOLY- WHO OWNS THE WORLD
Saturday, October 30th, 2021VIDEO – MONOPOLY – WHO OWNS THE WORLD?
STORY AT-A-GLANCE
- A handful of mega corporations — private investment companies — dominate every aspect of our lives; everything we eat, drink, wear or use in one way or another. These investment firms are so enormous, they control the money flow worldwide
- While there appear to be hundreds of competing brands on the market, like Russian nesting dolls, larger parent companies own multiple smaller brands. In reality, all packaged food brands, for example, are owned by a dozen or so larger parent companies
- These parent companies, in turn, are owned by shareholders, and the largest shareholders are the same in all of them: Vanguard and Blackrock
- No matter what industry you look at, the top shareholders, and therefore decision makers, are the same: Vanguard, Blackrock, State Street and/or Berkshire Hathaway. In virtually every major company, you find these names among the top 10 institutional investors
- These major investment firms are in turn owned by their own set of shareholders. One of the most amazing things about this scheme is that the institutional investors also own each other. They’re all shareholders in each other’s companies. At the very top are Vanguard and Blackrock. Blackrock’s largest shareholder is Vanguard, which does not disclose the identity of its shareholders due to its unique structure
Until recently, it appeared economic competition had been driving the rise and fall of small and large companies across the U.S. Supposedly, PepsiCo is Coca Cola’s competitor, Apple and Android vie for your loyalty and drug companies battle for your health care dollars. However, all of that turns out to be an illusion.
Since the mid-1970s, two corporations — Vanguard and Blackrock — have gobbled up most companies in the world, effectively destroying the competitive market on which America’s strength has rested, leaving only false appearances behind.
Indeed, the global economy may be the greatest illusionary trick ever pulled over the eyes of people around the world. To understand what’s really going on, watch Tim Gielen’s hour-long documentary, “MONOPOLY: Who Owns the World?” above.
VIDEO – KASH PATEL AND RIC GRENELL
Saturday, October 30th, 2021
Serbia-Kosovo Peace | Kash’s Corner
In this two-part special on Kash’s Corner, Kash Patel sits down with Richard Grenell, the former Acting Director of National Intelligence, for an intimate, unfiltered, and wide-ranging conversation.
In part one, they discuss Russia, NATO, building peace between Serbia and Kosovo, and Grenell’s personal battles with cancer.
In part two, they reflect on their work together in the intelligence community and in the Trump White House. Part two will be released on Nov. 5, 2021, at 8 p.m. ET.
Besides leading the Office of the Director of National Intelligence, Grenell has also served as the U.S. ambassador to Germany and as special presidential envoy for Serbia and Kosovo peace negotiations.
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THE FANTASY OF GREEN ENERGY
Saturday, May 15th, 2021
by Thomas Lifson May 13, 2021
International Energy Agency report shows that green energy transition is a fantasy because of dependence on key rare minerals
A prestigious intergovernmental organization created by the world’s advanced economies is pointing out the bottleneck in the plans to substitute so-called green energy for hydrocarbon-based energy: the availability of key minerals necessary for battery storage, wind farms, solar panels, and other gizmos necessary for the switchover. Simply put: the world can’t provide the quantity of those minerals that would be necessary, and the environmental and social impact of trying to mine them in sufficient quantities would be devastating.
The cure, in other words, is worse than the disease.
You can download the 287-page report here.
The International Energy Agency is an intergovernmental organization founded by the OECD [Organization for Economic Co-operation and Development] in the wake of the 1973 oil crisis to provide information and policy suggestions to help the advanced economies cope with energy needs. It currently is focused on the green energy transition so desired by many of the world’s most powerful special interests.
The report on minerals is part of a larger project on the green energy transition. Mark P. Mills cites some of its most important findings in the Wall Street Journal.
The IEA assembled a large body of data about a central, and until now largely ignored, aspect of the energy transition: It requires mining industries and infrastructure that don’t exist. Wind, solar and battery technologies are built from an array of “energy transition minerals,” or ETMs, that must be mined and processed. The IEA finds that with a global energy transition like the one President Biden envisions, demand for key minerals such as lithium, graphite, nickel and rare-earth metals would explode, rising by 4,200%, 2,500%, 1,900% and 700%, respectively, by 2040.
BIDEN’S 57 EXECUTIVE ORDERS
Sunday, March 28th, 2021
President Biden’s Executive Orders
Executive Order: Biden signed an order on March 8, 2021 ‘Guaranteeing an Educational Environment Free From Discrimination on the Basis of Sex, Including Sexual Orientation or Gender Identity.’
Executive Order: Biden signed an order on March 8, 2021 establishing the White House Gender Policy Council.
Executive Order: Biden signed an order on March 7,2021 calling for federal agencies to promote voter registration.
Executive Order: On February 24, 2021 Biden signed an order repealing a series of executive orders previously signed by former President Trump on regulating the financial system, reducing poverty, deregulation, reviewing funds to cities harboring antifa, promoting beautiful architecture in federal buildings, and democratic accountability in agency rule-making.
Executive Order: Biden signed an order on February 24, 2021 to strengthen the resiliency of America’s supply chains.
Executive Order: Biden signed an order to revoke Trump’s order to expand apprenticeships in America.
WHAT HAVE WE DONE ? THE BIDEN PRESIDENCY
Saturday, January 30th, 2021What Have We Done? By E.P. Unum January 21, 2021
Joseph R. Biden was just inaugurated as the 46th President of the United States yesterday. I have nothing further to say about this historical event other than to say it was attended primarily by 26,000 National Guard Troops, FBI, NSA, CIA Operatives.
That fact alone is a very telling story. Apparently, additional security was deemed necessary for a President-Elect who ALLEGEDLY received 80 million votes; Far more than any other person in the history of our country. All of the “peaceful riots” throughout the summer and fall, where stores and businesses were looted and destroyed, monuments toppled and police and citizens were killed, did not require the assistance of armed troops to quell these “activities”.
I also will not comment on the 17 Executive Actions signed by our new President on his first afternoon in office. NONE of these offer any hope or unity nor are they of any benefit to the American people or to America. Indeed, they will drive us further downward.
But here are some lessons we can learn from the new change in leadership to the America we know:
This may sound a bit harsh but today’s ULTRA-LEFT media now owns the American voter. When, day after day all we hear is how bad things are, how evil our leaders are, we begin believing this utter nonsense. Now we begin to understand why there was NEVER any action against the Clintons or Obama, how they destroyed emails and evidence and phones and servers, how they spied and wiretapped, how they lied to the FISA Court, had conversations on the tarmac, sent emails to cover their rears after key meetings, how Comey and Brennan and Clapper never were brought to any justice, how the FBI and CIA lied, how the Steele Dossier, paid for by Hillary Clinton, was passed along, how phones got factory reset, how leak after leak to an accomplice corrupt media went unchecked, why George Soros is always in the shadows, why Mitt Romney and Paul Ryan and George Bush and John McCain were all involved, why they screamed Russia and pushed a sham impeachment, why no one ever goes to jail, why no one is ever charged, why nothing ever happens to those thugs at the top.
THE DIRTY SECRET OF ‘CLEAN’ ELECTRIC VEHICLES
Thursday, August 6th, 2020
The Dirty Secrets Of ‘Clean’ Electric Vehicles
I analyze energy economics and related public policy issues
The widespread view that fossil fuels are “dirty” and renewables such as wind and solar energy and electric vehicles are “clean” has become a fixture of mainstream media and policy assumptions across the political spectrum in developed countries, perhaps with the exception of the Trump-led US administration. Indeed the ultimate question we are led to believe is how quickly can enlightened Western governments, led by an alleged scientific consensus, “decarbonize” with clean energy in a race to save the world from impending climate catastrophe. The ‘net zero by 2050’ mantra, calling for carbon emissions to be completely mitigated within three decades, is now the clarion call by governments and intergovernmental agencies around the developed world, ranging from several EU member states and the UK, to the International Energy Agency and the International Monetary Fund.
Mining out of sight, out of mind
Let’s start with Elon Musk’s Tesla. In an astonishing achievement for a company that has now posted four consecutive quarters of profits, Tesla is now the world’s most valuable automotive company. Demand for EVs is set to soar, as government policies subsidize the purchase of EVs to replace the internal combustion engine of gasoline and diesel-driven cars and as owning a “clean” and “green” car becomes a moral testament to many a virtue-signaling customer.
Yet, if one looks under the hood of “clean energy” battery-driven EVs, the dirt found would surprise most. The most important component in the EV is the lithium-ion rechargeable battery which relies on critical mineral commodities such as cobalt, graphite, lithium, and manganese. Tracing the source of these minerals, in what is called “full-cycle economics”, it becomes apparent that EVs create a trail of dirt from the mining and processing of minerals upstream.
A recent United Nations report warns that the raw materials used in electric car batteries are highly concentrated in a small number of countries where environmental and labour regulations are weak or non-existent. Thus, battery production for EVs is driving a boom in small-scale or “artisanal” cobalt production in the Democratic Republic of Congo which supplies two thirds of global output of the mineral. These artisanal mines, which account for up to a quarter of the country’s production, have been found to be dangerous and employ child labour.