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Obama and the IEA - Egg on the face
On June 23 I wrote
about the Obama/IEA decision to intervene in the global crude market. I
hated the plan. One of the points I made against it was this:
Is (the IEA intervention) about
teaching a lesson to OPEC? I am concerned that this is a factor. The US
wanted OPEC to up production. That didn’t happen. So the bad boys who
produce oil just got a shot across the bow.
Watch
if this angle on the story gets “play”. It would piss off those bad
boys and they will retaliate. Does O really think he can take on the
world oil market?
-OPEC will respond. “We” will pay a price for this.
Bloomberg has a story out just now that Saudi Arabia is not so happy
about this and some cut backs in production just might be in order. From
the article:
Oil rose in New York, extending the biggest gain in six weeks, amid concern OPEC may reduce output in response to the International Energy Agency’s move to release oil stockpiles.
“If IEA countries are releasing stockpiles Saudi Arabia won’t increase production as much as expected,” said Hannes Loacker, an analyst at Raiffeisen Zentralbank Oesterreich in Vienna.
“There are concerns Saudi Arabia will cut production” in response to the IEA move, said Roland Stenzel, an oil trader at E&T Energie Handelsgesellschaft mbH, said from Vienna.
Oil is on a tear as a result of this (and other factors). If the end result is that OPEC cuts off production by a percent or two the ultimate cost to global consumers will be measured in the hundreds of billions.
I also said this last week. I’m now certain that I was right:
-Obama will get some egg on his face with this one.
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Never fight with someone who has less to lose than you do.
Best regards,
RF
think pro wrestling bruce
More like: Never pick a fight you aren't willing to win.
It's time to "triple dog dare" the administration...but this time big O should tell the public we'll release everything from the SPR, we'll go "POT" in this pocker game til we see $1 gasoline again...and anybody who calls us gets an aircraft carrier on their doorstep (or in the case of S. Arabia...we simply step away and bar the doors...wonder how long that will last?!?).
That's the kind of solution based leadership we need if we're going to get this WWIII kicked off properly...it's time we bring this whole game back to our wheel house, war making. Take advantage of our strongest export.
Can't win? You don't think the "west" can take the ME?
All part of the plan...make it "their fault" we went to war. You know...like Ft Sumter... We'll force a war for oil because they're not giving us enough...they're hurting our nation deliberately...that kind of shit. Or war with Iran. Whichever comes first. Either way..we're getting control of that oil...we must...to survive. We can't last with $100 oil...and those who "own" it...won't let it go for under that. We NEED $50 oil...there's only one way to get that...take it.
We could *destroy* the Mid-East, but we couldn't *annex* it.
Destroying it doesn't get us the oil.
You're not real bright, are ya?
Maybe oil wouldn't be so high if there weren't multiple wars going on in the oily countries? but you're right, lets bully them into giving us our oil and if they don't we can bomb the sh!t out of them and watch the price per bbl rise to $150!
...
"egg"? Make it plural -actually just add one more.
And make them hairy.
If the Bilderberg/EconoHitMen/TBTF/TPTB/VampiroTeuthis Set offered you a small seat at the far end of the table when the SHTF in exchange for turning the oil spigot and taking an egg to the face, would you turn the spigot?
That's the real fight that can't be won.
Sweet!
Armageddon is back on again!
This is not "egg" on their faces. It is the same thing on the chins of Hope & Change voters.
The german wehrmacht is already under alert and ready to mobilize and seize Norway's oil fields.
1) It's called Bundeswehr.
2) No, we won't attack Norway, we are not currently under alert, we will not seize their oil fields. This isn't the 1940s. If we wanted to seize oil fields, we probably would have joined France, GB and the USA against Libya.
3) German people don't want another war or any war at all. We've already troops in Afghanistan to support our American ally.
4) German economy is booming right now. Unlike USA and GB we still have manufacturing - something we got ridiculed for 4 years ago by American and British economists. Sure, not everything is perfect here, no unicorns and flowers, and more hardship for the middle class.
5) And this is coming from a guy with a Panther tank avatar!
Exporting stuff that the world needs as a basis for an economy? Good luck with that.