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Ahoy! Oil Tankers Form Four-Mile Line In Persian Gulf As Iran Talks Stoke Supply Glut Fears
With the US set to run out of on-land storage in the space of just three months and with the Iran nuclear deal still stuck in “tentative,” “maybe/maybe not,” purgatory (i.e. “we agree on the outline of a plan which will pave the way for an agreement but aren't sure how much of the plan or hypothetical agreement we want to share”), interesting times lay ahead for crude which, in a likely preview of what’s to come, traded in “deal or no deal” mode throughout Thursday’s session. With Tehran sitting on 9% of the world’s proven reserves, the lifting of sanctions and opening of the country’s oil fields to foreign investment could trigger a dramatic decline in crude prices as an extra million bpd gets set to be unleashed on an already saturated market.
Meanwhile, crude exports from from Iraq are hitting three-and-a-half decade highs while production, at 3.7 million bpd, is humming along at a 50-year high despite the ISIS presence in the country. As Bloomberg reports, 5% of the world’s VLCC fleet is currently parked in the Persian Gulf outside the Basra Oil Terminal, where tankers are now waiting an average of 16 days driving shipping rates to multi-year highs in the process. Here’s more:
Iraq’s biggest oil exports in more than three decades and winter winds are helping to keep shipping rates at a six-year high as a four-mile line of supertankers waits to load the nation’s crude.
There are 22 of the industry’s biggest tankers, or almost 5 percent of the fleet, waiting to collect cargoes from the Basra Oil Terminal in the Persian Gulf, from where most of Iraq’s crude is shipped. The daily rate for supertankers transporting crude from the Middle East to Japan rose to $51,042 on Thursday, bringing the average for this year to $61,306, data from the Baltic Exchange in London show.
Iraq’s oil output is rising faster than any other nation in OPEC as supplies from its southern oil province expand even as Islamic State fighters seize parts of the north.
Tankers leaving Basra in the past week waited an average of 16 days, ship tracking data compiled by Bloomberg show. That compares with about 10 days normally, said Odysseus Valatsas, chartering manager at Dynacom Tankers Management in Glyfada, Greece.
“The fact is it will definitely affect the market,” Valatsas, whose company’s biggest tankers can transport about 28 million barrels of crude, said by phone Thursday.
“The more ships that are missing in the market, the higher the chance the market has to go up.”
Iraq’s crude exports jumped 15 percent last month to 2.98 million barrels a day, the highest in 35 years, Oil Ministry spokesman Asim Jihad said by phone from Baghdad on Wednesday. The nation pumped 3.7 million barrels a day in March, the most since at least 1962, according to data compiled by Bloomberg.
And supply from Iraq isn’t going to slow…
Iraq will increase its crude production capacity to 4.7 million barrels a day in 2020, from 3.7 million last year, the International Energy Agency said in a report on Feb. 10.
Against this backdrop, Deutsche Bank considers what happens to demand in the event a concrete deal with Iran is reached...
A potential deal could allow insurers to cover tankers transporting Iranian oil, thus paving the way for Iran to increase exports which have fallen 150% (from 2.5 mmbpd in mid-2012 to 1.0 mmbpd currently).
The implications for crude tankers, while difficult to quantify, could be significant in our view. Best case is we estimate an incremental 1.5 mmbpd of seaborne supply would translate to demand for 40 VLCCs on a voyage adjusted basis, equal to over 6% of the world’s VLCC fleet and having the effect of making an already tight supply picture even tighter.
...and then goes on to comment on the implications of this dynamic for crude prices and the floating oil storage play:
Another potential outcome from an Iran deal would be implications to oil prices. A sharp decline in spot and front month oil prices and potential resulting widening contango in the oil market could render the global floating storage trade profitable once again. So while we have said floating storage is very much “icing on the cake” rather than the central thesis to our positive view on the tanker space, the “risk” is very much to the upside in our view given the potential impact relatively minor levels of floating storage can have on spot rates (given already tight supply).
This echoes what we said last month: "...the important point here is that Soc Gen believes finding the level where this becomes economically viable (i.e. profitable) can serve as an important guide for where crude is headed. In other words, the bank is looking for the front end of the curve to fall until the contango is wide enough to make the floating storage play enticing."
* * *
All of the above comes at a time when, as a recent policy brief from Stanford points out, crude prices are likely to be constrained for the long haul by a confluence of factors including surging U.S. shale production, a weakening OPEC, the shale revolution spreading globally, efficiencies in drilling, and more natural gas substitution for oil.
Whatever the case, what all of this suggests is that volatile times lay ahead for crude.
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Ukraine Price Inflation Rate: 111%
http://www.cato.org/blog/ukraine-worlds-second-highest-inflation
Let me guess, its Putin's fault?
Do I get a potato now?
arrrrrr the persian wenches spiggots were tappin garrrrrr
black gold is a flowwin thru them treacherous waters
soon they will beee moanin for a drone-in
garrrr
'Talk-like-a-pirate' day isn't until September, scallawag... Arrr, but September is when all the fun is supposed to begin anyway.
'Tie that scurvy dog to the yard-arm...'
forgive me lads but when i add to my stack of golden barnacles, i spark up my sea-weed and ravage my wench with my one-eyed sea monster and talk like this. make sure you get your hooks on yer golden treasure while its on sale...
We lined up some folks.
Sure glad we ran out of oil in 1976 like they warned.
Putchur damned thermostats back to 50 in the winter and 85 in the summer, fucktard.
Where's my Hummer when I need it.
Betchur glad you bought that Volt now, ain'tcha?
No, it's not the number of electric cars on the road doing this
Ahoy Polloi! ~ Oh wait, that dude got kicked off of ZH for correctly questioning the commonality between the last 3 FED chairs...
So..., did they say prices were going up, or down?
ask your local jew [price fixing] banker...
But be careful on how you TRADE on that advice...
FFS ~ These days, a couple of well positioned syllables from a fat assed jew grandma*, at a particular moment, & with ALGO's correctly positioned in advanced warning, have more weight than 4 fucking miles of supertankers ANYWHERE...
* YES ~ This is how LOW [what pretends to be] 'civilization' has lowered itself to [in order to fancy the counterfeitting money printers]... The sooner these fat assed, fork tongued, jackals are tossed into oblivion, the sooner a just & equitable planet may emerge...
I'm not the first person IN HISTORY to identify this dynamic...
wow, man - all those tankers lined up...so vulnerable, so convenient. Black Flag anyone?
US military could do one but of course theyve been flapping their piehole in public about going to war against iran irrespective of an agreement, so theiyve squandered their black flag opportunity through their lack of discretion and diplomacy.
sheesh. how fast is this empire collapsing if they cant even get a black flag right??
anyone smell a rat in iraq, highest production and who is behind the scenes.
the rat is _____. clue, we invaded under false pretense.
you're right, on the surface...
deep down in the core...(eh in the DUMB), somting else...
A potential deal could allow insurers to cover tankers transporting Iranian oil, thus paving the way for Iran to increase exports which have fallen 150% (from 2.5 mmbpd in mid-2012 to 1.0 mmbpd currently).
A quantative measure can increase by over 100% but not fall by over 100% since that would make it a zero. The fallen exports decreased by 60%. (2.5x.60=1.5mmbpd)
Someone needs to brush up on their math.
blame Chenney
how do you have an article....with a completely visual title....and no pictures. I got ripped off.
a,a,and 20 times more mean 80 mile-long line? Hummmm...
enough to plug up the gulf, no?
"how do you have an article....with a completely visual title....and no pictures"
Because the effin length of a Seawise Giant oil tanker is 1,504 ft...
So ~ assuming they were practically moored together, that's only a line of 14 tankers to equal 4 miles [less than 14 tankers assuming spacing]... Not a particularly alarming visual...
Vizualize this: 4 mile long line of tankers
a nice linear target for IS iL, or iS Is, or some terror group or eran to attack and sink then the war starts and prices rise Problem of the glut solved.
!!!!!CUE!!!!!! oil"price."com .......again...in 1 2 3
"No, it's not the number of electric cars on the road doing this"
Then it must be the fact that we lowered the speed limit to 55 for all those years that did it, huh?
We ravaged some wenches....
Sir, that would be ‘potatoe’ (ala Dan Quayle).
What a spud!
After Joe Biden a misspelled word doesn't seem like such a "gaffe."
I frown on anyone who can't spell a word more than one way. ---Mark Twain
Mark Twain never met Dan Quayle....
How about we belly up with Vlad to a shot Grand Teton potato vodka...?
No that would be the collective fault of the worlds CB's, and USA, trying to fuck Putin over for not playing fiat game. The bad thing, depending who you ask, is that massive unemployment is striking. You know the bellwether for the economy is copper... copper mines, the global leaders, are gearing up to shit can thousands of workers...
Come join us for free at www.gunsgrubandgold.com
For all your survival needs!
http://www.bloomberg.com/news/articles/2015-03-24/freeport-mcmoran-cuts-...
It's all part of the Communty Organizer's recovery.
(Ukraine inflation 111%.) AFTER the TPTB flew Ukraine's gold out of the country? Duh. Whocouldafigured? :-)
Doesn't Iran have a bunch of tankers lined up offshore filled with hi sulphur crude it couldn't sell for diesel full production? I read sometime back that was from the sanctions and is that now headed to market
The Iranian oil is like the thick crap from Venezuela. If there is a glut of light sweet crude, no one is going to buy it.
Interesting that you do NOT hear about Libyan oil exports versus a few years ago. Libyan oil is the good stuff.
"If there is a glut of light sweet crude, no one is going to buy it."
Refineries buy the type of crude they're set up to process. Switching grades is an expensive proposition and would only be done if a significant and reliable future stream of light crude became available.
So, how likely is that?
Couldn't resist. https://youtu.be/f2c-tMZSZtY?t=1m45s
I think there is a civil war in Libya and they are not exporting anything right now.
Remember a few months back when bullishness was rampant, even here on ZH? Still laughing my ass off, and I bet lots of dumb money is still holding losing positions in futures and/or oil ETF's.
I'm guessing most traders on ZH either threw in the towel in 08, or cut their exposure to a fraction of what it was prior. I did, and there's nothing special about me that I'm aware of, so I take that as average. Maybe I'm wrong, but there comes a point when the odds are so stacked against you that the only winning strategy is to not play.
Curious to know what others feel about this.
I'm 10 -15% In... The rest is on "the sidelines"
o percent, after my last two strikes, china schells and small oilys, got whole (30K gain back).
it was wild days of 5k moves. closed all accounts and have no broker accounts. cold turkey, ha...
Got out in 2010 when I racked up a 10K loss and my wife made me swear I wouldn't invest a nickle again without asking her first. That hurt.
Your mistake was telling your wife about your trading, can't get rich without taking some risk. what hurt more, losing 10k or getting neutered? Let me guess... your have a lot of new furniture since 2010?
I tried trading based on what I perceived to be reality, rather than with the Fed and the trend til 2013, and eventually gave up. Losing money sucks.
If I do it again, I'll just play along with the crowd.
I'm in about 40%
I refuse to buy shares in any financial company, hedge funds, or any company that is using leverage as a means to prop up their share price. I strictly invest in companies that have a solid prospectus and balance sheet. No IRAs, no mutual funds. Customer service is where it's at. People need things like hotels, flights and food.
It's been playing out pretty well actually. Up 10% since Feb 1st.
Proudly out of every market for roughly sixteen years. It has done me good!
http://www.startribune.com/politics/national/298533931.html
A gathering of all Vampires in one room...Hmm opportunity knocks.
Problem: income inequality
Reaction: tax the rich
Solution: communism
Claim: increase taxes on the rich
Reality: increase taxes on the middle class
Perhaps the plan is to, under the guise of tax the rich, put in place a fairly progressive tax schedule that really socks it to the higher earners. The "rich" get all sorts of loop holes, so they don't really have to pay it. Then the Fed debases the money to such a point that "we are all millionaires now".
Tada! Everyone is in a 40+ percent tax bracket. Bring on bigger government!
Regards,
Cooter
Does Claim = Clam?
All taxes come from the end consumer, no matter where along the chain they are placed.
They raise my tax, I raise your price.
It's as simple as that.
Indeed. But maybe a little perspective is in order:
http://www.indexmundi.com/energy.aspx?country=iq&product=oil&graph=produ...
hmmm, what are the chances a ton of capital will soon be spent on builder more super oil tankers and having them come to market just as the depression takes hold and demand of oil drops 10%. sound familiar?
None, zero, zip, Nada, zilch, the big goose egg, a no hitter, a perfect game, running the table, breaking the bank, taking down the casino, taking out Milwauikie
AND
BALLDERDASH!
Yep, that's why they call it a cyclical industry.
Long strippers/escorts willing to rappel from helicopters.
Is there a investment fund for that?
There's an ETF* for that. With a Futures Market. ;-),
* Ejaculation-Traded Fun.
First the Baltic Dry Index now this. Some Economic Recovery Huh? No one is buying anything.
CarMax reported good numbers this week.
High end luxury cars moving earnings up.
This new economy excludes tens of millions.
A tale of two economies is emerging.
This should get interesting.
Allright - just to keep it interesting...read the linked article below and discuss peak oil production...please wait to junk away only after reading the article
http://econimica.blogspot.com/2015/04/why-would-corporations-nations-leave.html
It's not just economic. It is becoming two separate species. Walk around a Walmart for an hour and then walk around a Wegmans for an hour. The "people" at Walmart are large, round, walk with limps or use motorized carts to shop. The woman at Wegman's all wear yoga pants to highlight their perfectly tight little asses. Complete bifurcation of the human race happening in real time in good ol' America!
I was all set to use your info to go check out some hot babes, 'til I saw I'd have to go to NY/the Northeast. No thanks. I'll stay in Dallas.
Check out Target or Whole Foods.
Yoga pants and Milfs oh my!
Makes me think of Breaking Bad, and the lady driving a sporty Bentley who used to be partner and lover of Walter White.
At first, I thought that said Carl Marx reported good numbers. And I was like, well, DUH, the asswipe and his administration report jacked up number every time.
OPEC, gotta love'em......
How does Iraq go from 3.7 million barrels per day to 4.7 million barrels per day in 2020, if oil is going to be priced at $20 and there is no capex?
Or can we assume that the US debt (at least $25 Trillion by 2020), won't be noticed, and the dollar will stay strong?
Lowest cost production on the planet (not counting "security"), thanks to geography, so I hear.
25 Trillion You have taken the red pill I see.
Good news! The Iraqi "government" has "liberated" Tikrit. Oh, but then this report:
Iraqi provincial council head says Shi'ite paramilitaries are looting in Tikrit, sees out of control situation - @ReutersNow I thought only the ISIS Sunny islams were looting Iraqi treasures. Looks like the Shits want in on the booty as well.
How FUBAR can a place get? Oh, as a side note, what is actually left of "Tikrit"? Probably about the same as Kobani.
We need some of that action here.
Soon.
Reuters? Seriously WTF.
exactly, it always needs to be repeated: you can't trust everything from reuters.
I remember that 2003 Gulf War: Iraq was going to be producing 12M barrels per day by now.
it is a record? If Obama didn't screw up the winning of the war.....it would probably be even higher
In and out, quick and dirty for about eighty five billion.
Bullseye there, too.
The CEO of Maersk Line, the world’s largest shipping company, warned that global trade growth is slowing. Søren Skou told the Financial Times yesterday that the sluggish global economy is having a “huge impact for us as an industry.”
http://www.globaldeflationnews.com/deflationary-forces-creating-global-s...
" We sluggished some folks. "
Wait didn't the media/liberals make fun of Cheney and Bush about Iraq oil output?
Iraq’s oil output is rising faster than any other nation in OPEC
That can happen when you start from a low base.
it is an ALL TIME RECORD!
And it will be keep rising for a long time. But it's a record first reached 35 years ago. Perspective.
Since Lehman...?
Cheney and Bush were accused of wanting Iraq's oil by some liberals. Since all the public justification for the invasion were known to be wrong, lots of people were grasping to straws to find the 'real' reason.
It was liberals who were made fun of for claiming that the Iraq would become a mess and create a nation of terrorists.
We should take their oil and give the proceeds to Veterans, then dump the rest on D.C..
You mean neoliberals. And it was neocons who made it a mess. It's no longer a nation. It's a territory.
The line is miles long, but each tanker is nearly a quarter mile long in itself and there are only a dozen actual boats waiting.
A dozon tankers is still a lot of storage floating idle in one place,
target rich environment...
might be more profitable to fill those tankers with water and send them to Califoreignia
Well, except for the fact that Cali is bankrupt part.
yes but fourteen generations from now there's some spare debt capacity, so they can pull it forward
ZH has lost its intellectual honesty on this issue. I would have assumed the Austrians here would deal with real industry cost curves. The price of oil is set at the margin. The marginal substitution is very low cost traditional field output depletion against very expensive marginal shale/tight oil (whether domestic or international) over time. There is ZERO question that the price of oil will increase materially relative to virtually all other goods and services absent a world changing energy innovation to displaced liquid fuel transportation (which we happen to be working on... Trying to do what we can to prevent a vicious spiral).
Demand also sets marginal price. If shale oil costs $200 to produce today, would the price of oil be $200 or would demand collapse? If the people don't have money for $10/gal gas, then it's not going to happen. There would be a huge depression which could cause demand destruction.
See what 4 dollar gas did.
That was more to do with ObumfuckCare, methinks.
Which part of relative to other goods and services wasn't clear?
Show me the collapsing demand. Seriously. Consumption has been rising domestically. And exactly how did that demand change so sharply starting when we needed to put additional pressure on RussIA?
Live Ship Tracker shows a different story. Whats up ZH? Checking sources as usual?
http://www.marinetraffic.com/en/ais/home/zoom:10/shipid:674100/mmsi:4415...
I went to the same site and found nothing. Ghost ships, Shaggy!
A Google search indicates there is a backup due to a storm in the Persian Gulf.
http://www.reuters.com/article/2015/04/01/us-iraq-oil-backlog-idUSKBN0MS...
Tyler click bait bullshit.
Must generate clicks for more hookers and blow.
Yup...I'm calling BS on the 4 mile long line of ships too. www.marinetraffic.com showed nothing.
Stealth tanker ships. With stealth technology. Being stealthy and all ninja-like.
Nah, it's just due to the glasses. The future so bright, we gotta wear these: http://www.mostly-harmless.de/joo.html
Just put them down for a moment, and you can see them tankers ... ;)
Even if it IS 4 miles long, it's only 22 ships. Not exactly much to get excited about.
Actually the problem when I checked was a lack of oil tankers.
That may be worse than a back up.
The article is from Bloomberg, so why are you calling bullshit on Tyler?
http://www.bloomberg.com/news/articles/2015-04-02/iraq-s-four-mile-line-...
Bloomberg the last word on truth...hahahaha
So where do you think ZH should get its news from? Hire their own reporters? They post news articles. You believe them or not. If you call bullshit, then it's Bloomberg's bullshit. Bloomberg reported on the plane crash in the Alps. Was that also bullshit?
If the information isn't sourced don't print it..I don't give a fuck where it comes from in the MSM..Do your own investigative activities. Bloomberg may have reported on a plane crash that still isn’t completely understood,,,,congrats...the jury is still out on the plane crash. This is what I believe from MSM a big fat fucking goose egg.. So why should ZH parrot this bs that was exposed by it's own reders in short order. I don't need MSM passed along by ZH I can get that from Huffington. For starters try this source...There are many others..
http://www.globalresearch.ca/
P.S.
Hire their own reporters?
Might be a good start..then they can take full responsibility.
ZH Has done some great work I just hope this is not a sign of slippage.
We are all living in the ultimate illusion..
https://www.youtube.com/watch?v=clnozSXyF4k
ZH is mostly consierded the mother of all bull shit.
You're considered the mother of all idiots
You suffer from the acult syndrome,,,no critical thinking,, ZH is my god...Calling people idiots ,,,very deep..
Acute Acult Syndrome.
I think they have workshops for that, run by fat lesbians.
I think they have workshops for that, run by fat lesbians.
This must be your concentration of expertise which I have no knowledge..
Cheers
The kill switch
I'm not sure Acute was formed for effect on my part but your need to use it is bolstering with no effect.
It was sourced from Bloomberg. If you choose not to believe this Bloomberg article then that's your choice. The media is full of truths, half-truths, and outright lies. ZH is a blog, not a media company. If you want to be a reporter, then go do your own investigative reporting. Every article you've read on ZH was sourced to the MSM or some other website. Now your getting mad about it after all these years? If ZH had their own reporters what makes you think everything they report would be accurate?
It was sourced from Bloomberg.
Please get real.
If ZH had their own reporters what makes you think everything they report would be accurate?
I rest my case.
Why should I believe you?
See how that works?
Why should I believe you?
Believe me?? Now your treading on dangerous ground. As long as I'm void of multiple sources and many footnotes you take your current events portfolio to a creeping death.
What's a sailor in a four mile long line of tankers to do in Basra? Go on a beer run.
http://gadling.com/2012/11/22/beer-run-in-basra/
Thanks for the website.
Good website, always buy your beer from a Christian in the Middle East!
That site: marinetraffic.com shows no backlog from shipping but 9 vessels VLCC,are due shortly, but various news sites show up to 30 vessels are waiting up to 21 days to load due to a big storm in the area.
I don't know what the Zionist criminals of the west have specifically in mind, but Iran, and the rest is falling for it.
Oh where oh where will the next Dancing Mossads show be?
The banksters need to repay us.
"See that building behind me, it has fallen and I am going to talk about it until it really falls."
LangleyInc, the executioners for MurderInc, are pissed at the House of Saud and now they are being sent to the slaughter via Yemen. The Saudi Royal's are running on very short time. Wait till that house falls; talk about Middle-East instability. Long XOM?
House of Saud are allies with Israel. Why would the US take them down?
Holographic tankers maybe? …
IF the tankers are physically there and IF they really are full of crude and IF they are Silverman style insured they sure would be a juicy targets for some bomb laden, HBUAP controlled, Boeing 777 or AN-32 coming from the general direction of Iran to get the ball rolling on the McIsrael war pretext /nuke deal squishing wish list.
The possibilities are positively endless.
Don’t think someone isn’t running them all through some war gaming super computer scenario set right this second either.
Let’s see what cartoon shit they can come up with and who benefits.
~ DC
Oh, and P.S. – You are correct; The banksters need to repay us.
And they said all those dead and permanently disabled Americans weren't worth it!
Parents should be charged with negligence for not doing everything possible to prevent their children from entering into an urban "Po-Lice" farce or U.S. military. There is no honor in MurderInc. However, the more that do, the less likely children will be forced to via "forced admission".
It's YachtFest in the gulf... Long Belgian caterers.
You should hedge that trade by going short chinese caterers ... FTMFW! ;)
Supply will be disrupted by June 1st by all means possible; otherwise the derivative implosion in the oil patch will cause a domino affect. War will be the supply disruptor of choice...the new terror group "OilOil" will arrive as a breakout group to radical for ISIS.
Who needs oil when there is no job to drive to?
All electric here and don't pay a dime because whole home is solar and charge my electric car and scooters from home. FREE. Long live Sun power
You must work in the retail market. Pouring a Starbucks cup of coffee. Ganger, you don't have a passport and don't leave your scooter in long term airport parking. Wearing a suit and tie is not required. Bathrobe or pajama pants to land your next VC investment at 45% ownership. You can continue to get tattoos, wear thrift clothes and run your business on short term gains until the money runs out. Then, VC owns all assets. We love the liberals selling rainbow pizzas. They're a broke baked business model.
Funny it was 8 years of bush republicanism that ended with Banks collapsed, Housing Collapsed, DOW 7600, and jobs lost at 800,000 a month. Just how exactly is that better.
The drive to out pace peak oil misnomer and crying for the lack of coal car infrastructure to rebuild a dead market demand. The administration thinks Americans will fund development costs to adhere to his Executive Order by our porch monkey President.
Not going to happen. Paris has clown cars, they just provided that they intend to sell you a golf cart. Again; recreating a smog crisis to force people to buy a new car. The old car no longer meets emissions requirements. The cycle of a debt slave. Keep buying so our GDP looks good.
Is this like the "rig counts don't matter" lie?
Anyone swallowing this one should ask themselves why Tyler still hasn't reported on the actual US January production numbers that fell by over 100k bpd.
There's an agenda here.
Of course there is an agenda...there is ALWAYS an agenda, one way or the other. The good fun is trying to piece it all together and figure it all out.
"Everybody talks their book."
Never forget that.
Disclaimer: I love ZH, clickbait and all.
wonder how many
zero hedge yacht club tee shirts
those tanker crews would buy....
How many freight companies are expecting to get paid with petrodollar's under a letter of credit banking agreement? Bet they wished Forward Freight Agreements (FFAs). They could dump shipments under a swap agreement. Fuck this banking bullshit. Free along side is another approach.
Oh yeah Iran's oil has been offline for years. How bout that oil price now?
THIS IS YOUR RECOVERY
This is a natural gas and oil pipeline dispute. Ask yourself about the surplus of NATGAS contracts.
Then ask yourself about the international fight on were the oil pipline is going to be placed. If still confused, what happened during the Keystone pipeline agreement between United States of America and Canada. Ask the nigger in the White House.
The only tax being asked for is fair taxation when a billionaire pays less than his secretary something has gone far wrong and is the cause of not being able to pay for society's necessity's.
That is bull shit.
Just flood the market as fast as possible so the shales will bankrupt and I can cash in my puts on them. Is that so much to mother fucking ask?
It just seems too easy. "OMG shale is gonna crash! We're boke! Liquidate!"
Next:
Continuing unrest in the ME today pushed oild back to 100USD/bbl.
If you're the one who downvoted me mother fucker, meet me in the parking lot after school and lets get this shit on bitch. You wanna fuck with me mother fucker????????
Bakken ND report. Huge slow down- hours being reduced and job losses, TONS of Heavy equipment going idle- sitting in lots... This is first hand info. I suspect that the shit is really going to hit the fan here in may, june and july.
Hit the fan in what way?