oil

The Saudi Arabia-Russia oil war against U.S. oil producers

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Two of Donald Trump’s favorite autocrat buddies, Mohammad Bin Salman Al Saud of Saudi Arabia and Vladimir Putin of Russia, have decided to engage in a price war over oil in an effort to capture market share in Asia, and to force American shale oil producers out of business to reduce American market share. Nice … Read more

GOP payoff to the Carbon Monopoly: Keystone Pipeline

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Tea-Publicans like to claim that they are free market conservatives, let the “invisible hand” of the free market determine the winners and losers in the marketplace.

Only we have a real world example right now that this claim is total bullshit. Tea-Publicans are the servants to the Carbon Monopoly: oil, gas, and coal.

KeystoneThe first confrontation the new GOP Congress wants to pick with President Obama is over the Keystone XL Pipeline, at a time when the global price for sweet crude oil is in free-fall, dropping below $50 barrel today. Oil Price: Latest Price & Chart for Crude Oil – NASDAQ.com.

The “tight oil” from tar sands and shale oil are only profitable to extract and to refine when the price of oil is at $100 barrel or more. In short, the economics law of supply and demand is driving “tight oil” out of the marketplace (more on this below). So currently there is no market-based demand for the Keystone XL pipeline at the moment.

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