Tag Archives: OPEC

Thoughts on the crash in oil prices


crew-2231Comment by Jim Campbell, Citizen Journalist, Oath Keeper and Patriot.

 

 

This just crossed my desk this morning so I asked the writer if we could post it as him being today’s guest editor.

He goes by speeddcpa, I’ve known him since high school, he’s a recovering CPA and currently and options trader making the big bucks in retirement. 

When I have a question about taxes or money, he is the guy I ask to help me sort things out.

Thanks amigo and welcome to the show.

 

OPEC-Logo12

 

Before reading this month-old post on the Business Insider blog (which I follow with a grain of salt),  I leaned toward the theory that OPEC was influenced by President Obama to not cut oil production (and thereby pressure oil prices to the downside) to punish Russia.

Secondarily, my thought (and hope) was that the oil cartel was finally failing because they couldn’t control enough of the world’s oil producers to make it work.

 

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The primary benefit provided by price fixing is it creates a windfall to the first participant to violate the fix.

I discounted (without much conviction) the theory that OPEC’s motive was to destroy or hurt the US shale oil industry, because they (OPEC) hadn’t done that in the past 40 years.

As the BI post I refer to above indicates, OPEC claims they failed to cut production because they couldn’t get Russia and Mexico (non-members) to join in the cuts (ie the oil price fix).

That appears to support my second favorite cause (that the cartel was finally failing).

However, their stated reason would in fact punish Russia (and Mexico and US shale production) and be consistent with Saudi following BHO orders or simply putting the squeeze on its competitors.

 

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Now that I’ve read the Saudi explanation, my conclusion is that the jury is still out, and all theories remain on the table.

 

 

 

Your thoughts? 

 

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GOP Rep Allen West is Outraged By $70 Hummer … Fill-up


HyperVocal

Wall Street Journal
There are a number of reasons to want Congressman Allen West to lead our country. Among the his is an intelligent man of principle and refuses to go for the well documented hoax of CO2 induced climate change.  As Newt has pointed out, when we get rid of this guy, we will have gasoline prices back to around $2.50 per gallon.
Gas prices are really high. Newt Gingrich, in fact, has turned his struggling campaign into a referendum on President Barack Obama’s inability to control soaring prices at the pump. But he’s not the only one who speciously believes the president single-handedly controls how much you pay for petrol.
That’s my story and I’m sticking to it, I’m J.C. and I approve this message.

Outspoken, oft-outraged congressman Allen West (R-FL) took to Facebook on Thursday to eviscerate the president over his most recent fill-up. You see, Rep. West paid $70 at the pump for gas, which is absolutely insane considering he drives such a fuel-efficient as a … wait, does that say Hummer H3?

 

West’s Hummer (via Broward Palm Beach New Times via BuzzFeed)

Uh huh. The Party of Personal Liberty and Freedom is unwavering in its belief that freedom and liberty shouldn’t come with consequences. You want to buy a vehicle that gets 15 miles per gallon to fill a 23-gallon tank? Great! But don’t come crying when it costs $70 to fill the tank, man. The equation is simple for guys like West: FREEDOM + CHOICE – CONSEQUENCES = OBAMA SUX.

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Iraq: OPEC to maintain oil output


Comment by Jim Campbell

 

When we finally crush the Green Weenies and the rest of the administration we will tell the rag headed OPECKER’s to eat sand. 


These pathetic weasels should be sent to Iran, not many trees to cry about, let them tell the Mullah’s oil is bad, very-very bad. 

That’s me story and I’m sticking to it, I’m J.C. and I approve this message.

VIENNA – OPEC agreed on Wednesday to maintain current oil production of 30 million barrels per day, citing an uncertain outlook for world energy demand while the cartel chose Iraq to be its president in 2012.

 

OPEC Secretary General Abdullah El-Badri


“In light of the foregoing and given the demand uncertainties, the conference decided to maintain the current production level of 30 million barrels per day, including production from Libya, now and in the future,” OPEC said in a communique after a ministerial meeting in Vienna.

    The Organisation of Petroleum Exporting Countries, whose dozen members together pump about one third of the world’s oil supply, added that Iraq would take over the cartel’s rotating presidency from Iran in 2012.

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Reid kicks off re-election campaign in Searchlight


By LAURA MYERSLAS VEGAS REVIEW-JOURNAL

This guy is such a loser that Sarah Palin brought more voters, 10,000 to Searchlight than ‘dingy’ Harry could muster at his first stop.  Be still my heart, he spoke to one thousand in Las Vegas.  Look for this fool to create another shovel ready job come November. Random thoughts while watching a grown man start to cry, I’m J.C.

SEARCHLIGHT — U.S. Sen. Harry Reid launched his re-election campaign Monday with a sentimental send-off from his hometown of Searchlight, cheered on by more than 100 close supporters.

“We love you Harry,” friends, neighbors and longtime Democratic Party backers shouted from inside the Searchlight Nugget where 86-year-old owner Verlie Doing and former U.S. Sen. Richard Bryan stood by Reid to help start his bid for a fifth term.

Only 100 people in my own hometown? WTF have we sent ACORN to canvas the grave yards?

Sen. Harry Reid, D-Nev., takes a call Monday while riding aboard his campaign bus south of Boulder City. During the next two days, Reid is expected to make stops in Minden, Carson City, Fallon, Fernley, Reno, Lovelock, Winnemucca and Elko.
John Locher/LAS VEGAS REVIEW-JOURNAL

SEARCHLIGHT — U.S. Sen. Harry Reid launched his re-election campaign Monday with a sentimental send-off from his hometown of Searchlight, cheered on by more than 100 close supporters.

“We love you Harry,” friends, neighbors and longtime Democratic Party backers shouted from inside the Searchlight Nugget where 86-year-old owner Verlie Doing and former U.S. Sen. Richard Bryan stood by Reid to help start his bid for a fifth term.

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Obama: A nuclear Iran inevitable


US president says “current course would provide them with nuclear capabilities.”

Says Barack Hussein Obama, destined to go down in history as a bigger wimp than Jimmy Carter. This guy seems to be conducting himself as a Muslim plant. We once called him the Manchurian Candidate.  Now we call him Mr. “My Muslim faith.”

By HERB KEINON AND JPOST.COM STAFF

Pat Dollard

It is inevitable that Iran will produce nuclear weapons, as things stand, US President Barack Obama said in an interview with The New York Times on Monday, seeming to indicate his administration was now resigned to a future including a nuclear-armed Iran.

One man seals the fate of Israel on his Leftist whim?

President Obama stated he was now convinced that “the current course they’re on would provide them with nuclear weapons capabilities,” though he gave no time line.

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Krauthammer Gives 20-Second ‘Correct Answer’ to Obama’s 17-Minute Long Response


Classic Dr. K

Obama’s List Of Failed Policy


J.R. Dunn

Over the past year and a half, we’ve seen much in the way of speculation of what Obama is really up to, what his true agenda might be behind all the soothing and meretricious rhetoric.

It was quite clear that “Obama” was a construct, a carefully manufactured image, as all politicians are to one extent or another. But Obama was an extreme example — all image, most of it having little or no connection with any discernable substance. The gap between what he said and what he would then proceed to do was wide and glaring.

This obvious and undeniable discontinuity is the major factor feeding all the conspiracy theories — the ones featuring George Soros as puppet master, or the claims of adherence to Islam and so forth. If only it were that simple! The past few weeks have clearly revealed that Obama is something at the same time entirely more commonplace while also being more obnoxious.

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CHRISTIANS AND JEWS NEED NOT APPLY FOR THE MUSLIM EXEMPTION TO OBAMACARE


I’m amazed that I missed this.  When it was originally announced back in March, the title was Amish, Muslims exempt from Obama Care.  I saw the word Amish and figured, they are exempt form just about everything. Random thoughts while observing the passing parade, J.C.

ObamaCare discriminates against Christians and Jews by denying them special exemptions extended to other religions.

If you are a mainstream Christian or a Jew, you need not apply to Opt Out of ObamaCare; that exemption is reserved for Muslims, Scientologists, Amish, Christian Scientists and Native American Indians who have a “conscientious objection” to insurance. A conscientious objection to theft committed by rouge politicians under the color of law with the threat of violence for non-compliance isn’t sufficient in America today to exempt average Americans from the stranglehold of government.


Believe it or not, if you are a Muslim you may claim a special religious exemption to Obama-Care that is denied to main-stream Christians and Jews. Or if you prefer a New-Age religion to Islam, you may become a Scientologist and Opt Out of ObamaCare’s mandatory pur-chase of health insurance. Or, if you happen to be of Native American Indian extraction you too can opt out of the insurance laws by which everyone else in America must abide.

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