Reuters: OPEC+ sees no need to meet U.S. call for more supply, sources say
LONDON, Aug 16 (Reuters) - OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to check an oil price rise, four sources told Reuters.
The price of international benchmark Brent crude has risen 35% this year towards $70 a barrel, driven by economic recovery from the pandemic and supply restraint by the Organization of the Petroleum Exporting Countries and its partners in the alliance known as OPEC+.
Last week, U.S. President Joe Biden's administration urged the producer group to boost output to tackle rising gasoline prices it sees as a threat to the global economic recovery.
OPEC+ agreed in July to boost output by 400,000 barrels per day a month starting in August until its current oil output reductions of 5.8 million bpd are fully phased out.
Read more ....
WNU Editor: So much for President Biden's demand that OPEC pumps more oil .... Biden demands OPEC boost oil production amid rising gas prices (NYPost).
Update: This is a sobering read on how vulnerable the U.S. is right now on oil supplies .... Rabobank: The World's Biggest Oil Consumer Showed Its Political Vulnerability To Higher Oil Prices And Skyrocketing Inflation (Zero Hedge).
2 comments:
Want to know how much the Afghanistan war cost you, the tax payer?
There's 150 million people who earn an income that's taxable in the US
The total cost of the Afghanistan war as of today is 2.2 trillion dollars
Divide this by the number of people who pay taxes and it's nearly 15,000USD that you paid for this senseless war.
But wait, it gets better
The costs are still increasing, as thousands US soldiers got injured and killed and maimed. That cost is another few billion right there
But wait.. the biggest bit of fun is this: you/ the US government didn't pay for it in cash.. no no
The banks, who wanted that war, LOANED the US treasury that money. Private banks, governed by globalists
Now, you only pay a couple percent interest rate, that's the advantage of being the top dog of the World and owning the global currency... BUT.. this is changing, and the banks will want the added inflation (that and the interest is how they make their money.. they profit off inflation by using their other investment arm to buy property from underneath you)
So you're easily ending up with a 20,000USD/ household cost.
And you'll pay for it through inflation, higher costs of living and taxes
And you'll keep paying the bankers and globalists until you have had it, and learned that it's just a system to enslave you... BUT... then the bankers come up with a new system they like even better, where you cannot even hang them for their crimes against humanity
That system is called the great reset
Oh and just to drive home the message
LOCs
Lost opportunity costs
Wars are not only expensive, they add little to the economy, they'r not wealth multipliers like infrastructure and education
So of course the US falls behind in every metric, from infrastructure to education, because your rulers are absolute demons
And even if you're a war hawk, as others have pointed out here, with 2.2 trillion USD over 20 years you could have manufactured 200+ of the best aircraft carriers. China would have no chance to catch up ever. Instead, your leaders (purposefully) destroy your economy through theft/ corruption, wars and lockdowns
And they won't discuss the great reset with you either. It's a plan decades in making and it's goal is to put China at the top of the food chain and let them run your rights.
It's happening in your lifetime, so you better get interested in what's happening because if we don't stop it and hold these traitors accountable, your and my children will live in Hell on Earth.
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