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Crude Surges On News Europe Agrees To Ban Iran Oil Imports
As if the situation in the Gulf was not enough on edge, here comes Europe with news, via Reuters, that EU governments have reached a deal to ban Iranian oil imports. The only thing pending is the determination of the starting date and other details. The result, as expected, is another leg up in crude. Sooner or later, this relentless rise higher will spill through to the pump, which according to the Michigan Bizarro confidence indicator will sent consumer optimism to historic levels. And now, the escalation hot grenade is back in Iran's court. Expect more missiles to be fired into the water and more rhetoric about Straits of Hormuz closure in 5...4...3...
From Reuters:
European Union governments have reached a preliminary agreement to ban imports of Iranian crude to the EU but have yet to decide when such an embargo would be put in place, EU diplomats said on Wednesday.
Diplomats said that EU envoys held talks on the issue in the last days of December and that any objections to the idea, notably from Greece, were dropped.
"A lot of progress has been made," one EU diplomat said, speaking on condition of anonymity. "The principle of an oil embargo is agreed. It is not being debated anymore."
And the response:
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http://www.infowars.com/south-korea-disregards-us-oil-sanctions-on-iran/
France is US' new EU-BITCH.To Wit:
A) France took the USUK (US+UK, my term) 'bail-out banks, hedgefunds and the very rich' line - against Germany's 'investors, bondholders and banks need to lose like men' line -
B) France has been pushing EU to further sanction Iran and to freeze/seize Iran's Central Bank's EU assets and deposits -
US loves Frenchie again. Is it that Team Barry is better than Team Bush at seducing Frenchie?
Or is it that we are approaching a new American "Revolution" - with reciprocal ideological flow back across the pond - i.e. Barry's neo-con in disguise USUK lead hegemony guiding Frenchie toward literally right thinking - which feeds into Frenchie's historical longing for empire?
If so - the comedic "conflict" between UK and France just before Christmas was nothing but theatrics - and - a new alliance has been forced: USUKs+Frenchie against German lead continental EU - i.e. G-CON.
Congratulations to the Anglo-Saxon hedgefund & military hegemon plunderers. You won this one and particular financial battle. However, The BIG war is coming - so there will be countless more battles - and a lot of them could be far more challenging for USUK-F. For one, if G-CON has half a brain, they will align themselves even far more closely with Russia, and its abundant energy resources and territory.
For example, just imagine: G-CON and USUK-F competing for China's grace and favor.
Will Chi-merica continue its integration? Or - will it splinter, over Iran, trade, currencies, Asean, China South Seas etc? If CHi-merica splinters - G-CON+Russia easily aligns with China and USUK-F has nothing left but paper no one except their own central banks will buy. What then will Frenchie do? I think it is fair to bet it will run back to its continental cousins, exclaiming "Excuse Nous - Nous Venon" - and be once again a continental nation, France - not Frenchie, a USUK-Bicth.
These are the real, long term macro strategic considerations and block plays, of which Stratfor is blissfully unaware. Oh, that's right, Stratfor was hacked and downed a few weeks ago. Taken with their pants down. Presumably that happens when one is way busy pushing ideology, in Stratfor's case US' Israel-centric preoccupation.
AND NOW - For the grand conncection and Coup De Grace:
Consider: France has A) of later years become increasingly against Turkey's EU accession, and B) took the lead on bombing Libya to oust Gaddafi, and now C) serves the USUK agenda - all of which points to the fact that Stratfor is a but preliminary propaganda tool for the USUK & Likud-led-Israeli alliance's strategy to consolidate Anglo-Jewish financial hegemony and obliterate Austrian School Economics, as examplified by the German insistance of bondholder and bank haircuts on European bank and sovereign debt.
Tie this above observation to the current year US election - and it should be obvious to the now informed reader that this election if about a fundamental existential choice - the choice between empire and freedom.
If you believe in freedom - you cannot have empire. Empire is the antithesis to freedom. Empire is for the financial elite, and, granted, its henchmen and servants - whereas FREEDOM IS FOR EVERYBODY.
The personal existential questions before you, my reader and fellow observer and commentator, and before every American therefore are:
A) "Is it more important to me, whether the empire I serve - with or against my will - secures this or that blcok-ally - OR - whether I and my fellow US citizens have the freedom to pursue our happiness within the bounds of the US Constitution, to do with our bodies, time and resources as we wish - i.e. to be free from serving any over-lord, execuitive, military/corporate agenda?"
B) "Am i an individualist or a collectivist?"
C) "Should I stand for the truth - or settle for the "lesser" of two evils?
If your existential choice is personal freedom, individualism and truth - you must now go to intellectual and moral war against US Empire and its MSM henchmen who declare Ron Paul un-electable - i.e. the over-lord servants who want you to settle and submit yourself to them.
Personally, I believe that US can have a renaissance - of personal freedom, independence, domestic manufaturing, R&D and education - which will render imperial block games meaningless and pathetic.
US does not need to be an empire. US does not need to Occupy The World. US can innovate and produce.
All we need to do is cast off the subservience to the local overlords and to their co-dependent alliances and submissions (there is no S without an M in S&M).
Forget and drop Chi-merica. Forget and drop USUK gun-backed paper-hegemony. Forget and drop US-Likud.
F R E E D O M N O W - BITCHEZ!
Ron Paul. Attack Romney and Mormonism. Play "Dirty"/put-the-facts-on-the-table- AND WIN - WIN - WIN.
It will be worth it !!!
... EU governments have reached a deal to ban Iranian oil imports. The only thing pending is the determination of the starting date and other details.
That most have gone over well with the EZ gentry .. " .. let them burn the news papers that their fish `n chips are wrapped with if they're unable to heat their stinky commoner hobbles."
Didn't we here something like that before .. like ... err .. along the lines of sumpin like:
Me thinks - unless the markets can shed a bunch of points that a bunch of bears got caught in the traps they set yesterday .. and this little spoon full of "hope in oil inflation" suspiciously smells like a break even cover turd for the overtly overly aggressive bears that got their paws stuck in the thraps THEY SET.
Just curious: How much do "Orwellian Rumor-Speak" specialists get paid? From the bouquet wafting off this greasy little flouta, minimum wage seems just a tad too high.
Was in San Antonio one time watching local news on the tube in a Marriott. During the break a commercial for a local bakery ran. It appears the bakers put a lot of yeast in the dough (bolio) - and the bread was full of air pockets. The holes in the bread, according to the commercial, were not really holes, they were "flavor cells".
There seems to be, but ain't saying fer sure, a lot of "flavor cells" in this when to disallow commoners fuel "story" sharted into the mainstream by the EZ paper money girls!
In other confidence game news: Turns out the MF Global, before it went officially bankrupt, sold a bunch of shit to Goldman (probably at the deep discounts Goldman's is so famous for bidding whenever the most predictable inevitably ever accompanies a company that engaged the Goldman to advise long and. then, as always, ends up popping like a toad on a hot summer afternoon from a good gigging on the short side by one of the Goldman's infamous (???? ???) Spanish Prisoner CDS's.
The world desperately needs, if it is to be saved, at least, for a few more weeks, a younger newer fresh approach in how to bait retail bulls with "flavor cells".
So if Iran can't export oil to the west, they will export it to China, right? ... is that supposed to be some kind of good thing?
Yep, EU doing the equivalent of banging a cast iron skillet on theiir collective heads.
They do have a buffer from Libya, perhaps that is why they feel they can?
The NATO oil company! NATOil, I like it.
ori
Europe is totally in the economic shape to start picking who to buy oil from.
this may be all the sheep need, 1 more invasion , to put ron paul in the drivers seat......one would think most americans are tired of senseless bullying and killing of other people...i could be wrong..
Wartime presidents are rarely defeated. It's an excellent strategy to get re-elected. Sincerely,
Dick Cheney
Didn't work for me.
-George HW Bush
I know, George, and I'm sorry. But I warned you about Dan Quayle as your VP. And at least your son was smart enough to let me run things. Gotta go, Santorum is on line 2. Sincerely,
Dick Cheney
Actually, Bush decided not to invade Iraq in order to avoid a prolonged occupation like his kid did. Therefore, We were not at war during his reelection. As a matter of fact at the time, it was the economy that doomed his campaign and his no new taxes broken pledge. Bush later commented that if Greenspan had lower interest rates 6 months earlier, He would had won a second term.
If the government can sell Iran as the aggressor and We go to war, then Obama would be re-elected based on historical evidence.
Now since Obama is in office... Chris Matthews, Rachel Maddow, & the entire MSM will flip to the side that Iran is inherently dangerous, and become flaming neo-cons dressed up as liberals...
The elites still control the media and the government. Same today as 10 years ago, or 50 years ago. They tell the "broadcasters" to jump, and they ask "how high"?
A bit OT- but Chris Matthews and Rachel Maddow could change clothes today and nobody could tell the difference.
"nobody could tell the difference"
OH YES YOU COULD!!! Her voice is deeper...............
A War with Iran and surging prices at the gas pump could certainly be the tipping point for alot of people.
I used to have an inflation/deflation debate with a guy I know in Texas. I text him every so often when prices moon shot and he texts me every time PMs get monkey hammered. It's all in good fun.
I texted him yesterday and asked him where my deflation was ... and said that 100+ is going to completely fuck the economy.
This crap with Iran is reaching a fever pitch and if a kinetic conflict starts ...
Oh, now is when folks should be touching up those dried stocks of beans, rice, flour, baking reagents (salt, soda, pepper, spices, bullion cubes, etc) among other necessities ... I can not see how this ends peacefully and fuel prices are going to go ape shit.
Regards,
Cooter
Shoes. Don't forget good shoes. I could walk around stark naked, I don't care as long as I have my well-made hiking boots.
I love that indestructible feeling that I get when I put them on. With them I'm set on shoes for 5-10 years. You remind me I need to get some more wax, though.
For more casual, comfortable use I swear by my vibram five fingers. My first basic pair lasted me a year and a half of intense use; now I'm looking at the tougher sport versions like VFF Trek. If I was sedentary I'd definitely stock up on a handful of pairs, especially if I had a weirdass shoe size like 13 (46 in EU).
Whatever floats your boat, though, next time you go shopping for a pair of shoes, buy high quality ones, 2 pairs. And do it soon.
Only in America could you get some shoes called "Vibram Five Fingers".
Smlbizman-I'm afraid you could be wrong. Besides March Madness is almost here.
cyrano....i will get back to you as soon as springer is over....
Just a free float of some 5% of the IPO of NATOIL could save `their` world for the umpteenth time on ever shorter years to come...good on you ORI
You got it exactly right.
Oil is a global product. If Europe doesn't buy, but Asia does, then Iran loses nothing at all.
That goes to show You how crazy these governments have become. With so many financial problems, They still do stupid shit like this. They still see the world as their colonies.
What is playing out today is the result of policies that have been in place for decades. We won't stop until we control Iran's oil, and that is all there is to it. We're following the same script as the one we followed when we overthrew their president in 1953. We've spent trillions to build the empire we have and we're not ready to give anything back, let alone allowing Iran sell it's oil for yuan.
Hasn't China got rather a lot of US Treasuries it could pay with?
Yes....it's a good thing for China. For us it means we pay more at the pump. Great move EU douchebags....Thanks!
I guess the EU doesn't know what fungible means.
http://dilbert.com/strips/comic/2006-02-19/
In other news, allegedly Europeans have agreed to freeze in order to teach those crazy Persians a lesson. Or perhaps they just torch all of the useless cars to stay warm?
China is also exporting funding to the EU - which may explain why the EU is delaying "the" ban on Iran:
China's New Role in the Making of Europe (David Gosset Jan 4, 2012)It looks, just looks mind you, that Amerika is being isolated - our DC employees are beginning to believe their own bullshit so much that they accept a tacit nod of the head and a "sure, anything you say" as though it be a conformation written in stone (more like play dough if ya axe me).
In mid-2009 China made a real free-trade arse of itself as it placed as much political pressure as it could on Australian miners to try and force the new annual iron ore contract to as low as $37 per tonne for Beijing.
Which would then make their iron ore supply about 40% cheaper than that Japan and South Korea had already contracted to buy it (about $60 per tonne, which was already a huge discount over the previous 2008 iron ore contract pricing).
i.e. Beijing wanted to use the global financial crisis and its rising status to gain an unfair trade advantage over all of its manufacturing competitors in order to collapse their market share and steal (steel) it, and to try and force commodity exporters to sell at a global price dictated by China.
They completely failed of course, and consequently now pay about three or four times as much for Iron ore.
But the affair showed that if you give the 'new' and 'rising' China special access to cheaper oil (or iron) than its competitors can get it at ... guess what China will do with that advantage?
And yes, Beijing will indeed fight a proxy war to maintain a cheaper long-term oil supply from Iran, why wouldn't they?
So Beijing will be very pleased indeed to make financial and trade deals with Iran!
Just what the do the idiots in Washington think they're going to do about, it if they do?
Nothing is what.
Currency war, Trade war, then combat.
China will be happy.
"China will be happy."
........................
Russia will be more happy...
I wonder if this allows the present purchasers of Iranian Oil to negotiate sharper prices?
Pretty much. Most Iran oil goes to China, not the EU, though Greece will be stressed. No one else will front them oil. Now they'll be pay in advance.
There was mention of ECB gold reserves going up, purchase of gold from a member central bank.
Spain or Greece, hmmmm
Libya contributed too.
oil ban bitchez! Bullish on gasoline prices!
Now is always the right time to buy or lease a new Chevy Suburban!
15 mpg city / 21 mpg highway
GM shares up 1.28% on the news!
Does anyone in the ZH community know if the European refineries the shut down recently due to financing ... used a significant supply of Iranian crude as feedstock?
Not that a reply post is admissible in court, but I would love to hear something one way or the other if someone is close enough to those businesses to have some insight.
Thanks in advance,
Cooter
I seem to recall that the Greek refineries are were run on nearly 100% Iranian oil.
Yes, but I was specifically interested in the refineries in Europe that got shutdown due to lack of financing.
The consensus was that market demand were too soft for the refineries to be profitable, but I wanted to be able to scrub the idea that an Iranian shortage was known ahead of time ... and the banks yanked the credit to cover their ass.
Just a side conspiracy of mine that I do not think has any merit ... but I did want to ask the community. :-)
Regards,
Cooter
Bankers are always notified of any military action.
Bankers are always notified of making money by financing any military action.
In this case, they get to squeeze both Greeks and Iranians. Brilliant!
.
Chevy Suburban? My town is overrun with new 49cc motor scooters. Streets around here look like they are all set for a giant Easter Egg Hunt with every color imaginable.
I suppose they use very little gas but their acceleration from stop lights is sloooowwww and top speed is about 35mph. The law in this state is that to own/ride a scoot less than 50cc is legal without a motorcycle endorsement on drivers licsense.
IMO... these riders are probably going to get hurt by faster traffic. I wish them well.
BTW, I have a 1980 Honda Trail 110cc on/off road motorcycle that has a top speed of about 50mph and gets nearly 90mpg on the highway. Still too dangerous to ride on high speed roads but fine around town.
Fine Bug Out vehicle. Any dual in working order is a keeper.
Get a map. Know your logging roads.
Even better, pre-cash some supplies in sealed and buried PVC.
Remote is good.
flattrader... I have done all you suggest, and much more, years ago. Friends have done likewise. I have another, complete, Honda 110 for parts plus tires, tubes, etc.
There are many thousands of miles of state and national forrests around here that receive very little use... and lots of springs with good fresh water.
Thanks for the response and Happy New Year.
Good post.How much should one pay for a used motorcycle on a limited budget?
One more step towards war. And it's already seen at the pump in Canada.
And that also means below-market-prices-oil for China... real good move there Europe... NOT.
Remind me again, what exactly have these people done to deserve this?
Oh, right. They'd like, if they could, to trade oil in a currency other than USD. Death ensues.
European leaders are never dumber than when licking the American arse.
If there are 'sanctions' against Iran, it should be for a real reason, like how in Iran they hang petite women from cranes and let them slowly strangle to death for more than half an hour ... or how they bury women up to their necks and then bash in their heads with thrown stones.
The great Muslim theologian Tariq Ramadan has a campaign requesting all Muslim nations to suspend the death penalty and all physical penalties of torment and mutiliation on people's bodies ... following on how ancient Jewish rabbis declared the death penalty immoral more than a thousand years ago.
And there should be sanctions against the US for its death penalty and torturing people too.
The EU needs to cut out of Nato and say good-bye to the torturing, tormenting, executing, murdering, war-mongering, war-making USA.
Correct. My country has been taken over by really, really bad guys.
Mustafa from Brussels, here's a suggestion:
Let Europe take back its European banking families and the Federal Reserve Bank they forced on the American people, as well as all of the European social engineers and their offspring who came to the US to escape from "fascism", and the American people will do our best to restore this country to its former potential.
They pray too often.
but not to the "god" of commerce, light, reason and logic... lucifer's minions frown on this.
They don't lick Goldman Sachs boots like we do?
It takes years to get to the boots, they make you start much higher up...
Not that I support this course of action ... but ... human history has this tendency of killing/conquering a group of people for their resources. Let me quote Mr G. Khan.
On that note, this is precisely why a beefy national defense and gun rights are very important.
Regards,
Cooter
http://www.youtube.com/watch?v=hikLjcwFdD8
So Iran was the only one left selling oil to Greece and now EU-dictatorship has banned that. Time to start tearing down those porches to get some wood to burn.
Good point.
Austrian Wood Gas works would be good for stationary engines.
And about time Europe stood up. And oh boy are they gonna pay. (Not like they are already with the 12 dollar US Gallon gas or equivilant.)
China will take it. All of it. Russia might want some too if she can sell it for higher prices later this year during wartime.
My wife keeps bitching to buy more gasoline now. And SHE does not know ANYTHING yet. I say we have plenty for now.
I talked big heap hubris, now it's time I shut up and put up.
Yes, nice arbitrage opportunity for oil-producing countries that are too big to give a shit... buy oil from Iran at a discount, then sell it as your own at full price.
If Iran keeps up the tension with all their war-talk, maybe oil prices will rise more than their discount and everybody's happy!
Except us consumers, of course, and ZOG.
Good "work" if you can get it.
Yes, good point... maybe this will increase pressure on Greece to butt out of Europe? Nothing like an energy shortage to focus minds.
Isn't there some special meeting today with Petroplus?
TIA
The Poopy-doo spreads...
So we'll force Iran to sell to the Chinese at a steep discount to market prices. I'm not sure in who's interests western leaders are acting on behalf of, but it is certainly not westerners.
Exactly. These f.cking IDIOTS. China is gonna buy it all. European consumers are going to pay more at the pump.
Which is why I think (under uber-plan "not to be outdone") the US Navy should close the Straits of Hormuz and blow up all the ships first! It falls under the "Animal House theory of geo politics" namely: "you can't do that to our oil Iran. Only WE can do that to our oil!"
http://www.youtube.com/watch?NR=1&feature=fvwp&v=q7vtWB4owdE
Regards,
Cooter
Idiots are the Europeans, the Germans, the Austrians and the Swiss and all of them, that keep electing pro-sionist governments
most europeans dont care about anything outside their daily life
The current leader are by no means idiots !!! The know exactly what their agenda is, their agenda is to stay by the sionist US government and keep sucking the dicks of the jews, no matter what the price for the average European would be.....
Only politically correct gets waivers,,,,and or western bankers needing oil to keep credit debt machine going.
http://www.reuters.com/article/2012/01/04/turkey-iran-sanctions-idUSL6E8C40DW20120104
Wed Jan 4, 2012 4:37am EST
ANKARA Jan 4 (Reuters) - Turkey will seek a waiver from the United States to exempt its biggest refiner Tupras from new U.S. sanctions on institutions that deal with Iran's central bank, a Turkish energy ministry official told Reuters on Wednesday.
U.S. President Barack Obama signed the new sanctions into law on New Year's Eve, which if implemented fully would prevent most refineries from paying for Iranian crude, the first Western measure that could have serious impact on Iran's oil industry.
The law would strip any financial institution dealing with Iran's central bank from access to the U.S. financial system.
However, the law allows Obama to issue waivers to firms in countries that significantly reduce dealings with Iran, or at any time when it is either in the U.S. national interest or necessary for energy market stability.
U.S. officials have said they will discuss with allies how to implement the law without causing havoc in oil markets.
Cue Donkey Kong pic (photoshopped riding an uparmored longrange camel). William?
UGH, UUUGGGHHH.. OHHH MAN...
Reaches for the Bromo.
I stick with the Shires big enough to carry a English knight thank you.
And gold should be up about 380 bucks by the end of the month.
Silver maybe back to 45 or so by the end of the month.
I don't think it will go any higher, that 50 dollar barrier is one of the strongest I have ever seen.
I have nerves of steel, but touching this Silver right now prior to war is like trying to mate with a catcus.
And "because it's Silver" you're gonna go for it anyways aren't ya...
Holding my savings in fiat currency is much more nerve wrecking. real assets give you a peace of the mind. A percentage of savings stored in Ag is one of the things to do, to have that peace of the mind..
Remember, that $50 price was walked up during the Aisan trading sessions (thin market), then JPM used the peak to put the shorts on in the fatter Crimex sessions.
Not so much a barrier as they just chose that big round number as a leverage point in their pump and dump, giving them just a few more bullets to survive until the next round of appreciation.
Gold popped up $20 since 9am.
http://finviz.com/forex.ashx
How dumb are these idiots? So now Iran will be forced to be outside of the USD hegemony for oil? Isn't that where they want to be anyways?
I would.
pods
Does it really matter?
They stuck it to us with the Arab oil embargo back in the 70's now we say "Up yours" we aint buying and financing our own fiery death by nuclear fire or a slow one by ground shine.
watching fox news is hazardous for your mental health.
Yeah but this time, the middle-east countries want a war against Iran... Because :
- They hate Iran for religious reasons
- It will make the price of oil rise
- $$$
If I were Iran, I would place special forces in Iraq, Afghanistan, Saudi Arabia, Bahrain, Kuwait, Europe and the US. If Iran is attacked, they would have orders to destroy oil facilities/assassinate political/oil/defense contractors figures, organize the resistance in those countries to cause a shitload of trouble...
That's the only use for special ops. Special ops in face of overwhelming air power will be useless.
The middle eastern countries per se do not want the war.Their NWO installed puppet Govt do.
I think that our death will be from something alot closer to home.
Between DC and the City of London proxy called NY we have far more to fear then from the brown people halfway across the world who are sitting on top of our oil.
pods
"Our oil" ??
Because everyone knows "the fundamentals of our economy are strong" right now and completely immune to cost-push price shocks from a vital resource.
Can't think of anything in '67 that might have made their actions in the early 70s more likely?
Do you really want to ride a bike to work?
Brilliant! Trade your oil for renmibi and whatever the hell North Korea is using for currency these days.......fantastic idea, because THAT will help finance your dreams of power.
Hate the dollar all you want, it is still the tallest midget.
The dollar is the tallest midget simply because it is traded throughout the world. You need gazillions of dollars for world commerce precisely because it is so used.
Guess what happens when a large part of the world no longer needs to trade in those dollars?
They come home.
pods
" Guess what happens when a large part of the world no longer needs to trade in those dollars? "
we start bombing the ever-living-fuck out of you?
establish perment military bases in your backyard to prevent attacks from aliens, alciada, and lemonad stands without permits?
stomp on your "leaders" nuts until they cough up blood and agree to open new branches of BoA and walmarts?
take your pick, or feel free to go, a la carte.
Casus belli, bitchez!
Well that is the model that we have been using. But the debt increase needed for that is just not possible now without the FED.gov extending itself too much. The leverage would be too great and we would collapse due to our own weight. Numerous nations would start making deals outside the USD, and we cannot bomb them all.
When the government says we are over- extented, they do not mean our military forces, they really mean our debt capacity. Just not much room to go before everyone runs away from treasuries. If the debt starts to dwarf GDP, which it will, we will implode. Along with the added drag to GDP from higher oil prices, we got nothing.
pods
"Sooner or later, this relentless rise higher will spill through to the pump"
Probably sooner. I woke up to gas prices 35 cents higher than they were when I drove home from work yesterday.
Same here. From $2.99 to $3.19... not quite $.35 but $.20 is still a pretty significant 12 hour increase.
I wouldn't be surprised to be tossing aroudn $3.50-$5 by the end of the month if not definitely through the summer.
This is probably the year gasoline squeezes the last penny out of every average americans bank account.
http://www.pickensplan.com/news/2011/12/08/us-spent-367-billion-on-foreign-oil-in-november/
In his monthly update on the level of foreign oil imports in the U.S., energy expert T. Boone Pickens said that based on the latest figures from the Energy Information Administration, the U.S. imported 59 percent of its oil, or 332 million barrels in November 2011, sending approximately $36.7 billion, or $851,221.30 per minute, to foreign countries, including OPEC nations that ultimately threaten U.S. national security.
Importantly, the monthly cost of foreign oil has grown over $10 billion in the last two years, as the U.S. paid $26.4 billion in November 2009 and $28 billion in November 2010. The $36.7 billion the U.S. spent on foreign oil in November 2011 represents a 31% year-over-year increase.
Commenting on the November oil numbers, Pickens offered the following statement:
“It was recently revealed that the U.S. has become a net exporter of oil products. Accordingly, some are falsely proclaiming that our energy problems are cured. This rhetoric could not be more misleading. While the absolute level of imports has dropped from 2007, the total amount of money spent is higher because price continues to climb.”
“In 2007, OPEC provided 44 percent of our imported oil. In 2011, so far, we are still depending on OPEC for 43 percent of our imported oil. The national security risk of importing OPEC oil is as high now as it has ever been.”
“Meanwhile, we continue to sit on vast untapped reserves of domestic natural gas, which can transform our economy and also happens to be cheaper, cleaner, and more abundant than oil. However, the transition to natural gas hasn’t naturally occurred in the market due to a quagmire produced by our oil dependency: there are a small number of natural gas vehicles (NGVs) because there are so few fueling stations – but nobody will invest in fueling stations until there are more NGVs.”
“The NAT GAS Act solves this dilemma by providing a modest, fully paid-for tax exemption for a limited period of five years for those purchasing NGVs or converting to natural gas engines. The exemption will cost the government nothing and will spark American NGV manufacturing – immediately creating at least 400,000 good jobs as well as cutting our dependence on OPEC by half.”
Confirmed. Arkansas Gas search shows 30 some cents increase in both regular and premium within the last.. 12 hours. They must have changed and set everything while we slept to the new price.
The sky is blue and it is a beautiful day to have a war while the sheep wonder what in hell is going on today with the gas price.
Between $4 per gallon gas and $4 per-pound-ground-up-downer-cows this train is fast approaching a derailment.
pods
We can withstand 16 per gallon gas, however we might be able to be better than that due to a overtime check that is coming.
Regarding meats, there are butchers around who will cut you some good cuts and decent ground sirloin or similar in bulk for 100 dollars. It's best to get one of those and store it in a 10+ cu ft freezer in your home and add to it as money allows.
Not just meat but other things like bread. We are in winter now so power outages are not a issue.
If you and your family can cook a portion on a plate for everyone with about... about a 8 ounce serving of meat (Pretty light I know) plus other staples and love, peace. That meat and food storage should last some time.
This is not the time to be gorging in the Ihop or stuffing faces at the waffle house or shoveling take out pizza to shut your whiny hungry family up. Hell we divide a pie into thirds and have a meal over three days.
I would disagree that as a nation we could withstand that price level for gas. Especially our JIT delivery system. Food prices would skyrocket with the added drag of transport sucking up whatever margins were left.
As for meat, our family is weaning itself off of meat and all processed foods.
http://www.drfuhrman.com/
pods
How do these useless fuck tards stay in power? I just don't get it. Surely they know there will be other buyers out there.
Strangely enough, people keep voting for them, sanctioning their evil ways.
Crazy, I know.
Norway has to love this shit.
Someone will eventually liberate all that oil from the unelected King and say we were just promoting democracy.
Maybe. Depends on his bloodline.
Norway (the North Sea) is way past Peak. They are pretty much coincident with Alaska. Production is way the fuck down from its maximum decades ago.
Norway won't care. They already have buyers for every relentlessly smaller drop they can extract from the ground.
This, btw, is the subtext for this whole affair. Iran is way past Peak too. They were doing 6 million barrels per day in the early 70s. Now they're at 4 and they drill frantically to at least hold it constant.
The Norwegians don't need oil to be wealthy. They are white, and can make socialism work.
At least I think this is what Trav said.
Time to start using all that never ending abiotic oil I suppose.
/sarc
you get all the ups for all the wrong reasons. Despite all the socialism and oil they are still sort of wealthy for being white.
This will surely help with people's living expenses and cause a surge in retail sales....
you mean retail theft?
see iran your not crazy
.
rick santorum is crazy man
Like the Wonders ,Rick has only one hit. The race is really between Ron Paul and Romney. Nobody in New Hampshire will vote for Rick.
Zooropa bans Iranian oil which will be sold to China so they won't dump Ts so Ben can "swap it like its hot".
Also consider analogy to the Volstead Act with respect to potential "subterranean" profit centers.
No worries. You'll still get fuel with your waiver card
issued by your esteemed leaders` executive order No. 0815
All others eat shit. But Sir, we make them eat it all the
time !?
Don`t you ever question me : we let them eat for the time being, and tax them to shit nonetheless, but rest assured that when WE LEAVE , there will be nothing left to burn!
If you think the shit is bad now, wait until you get a load of Santorum!
A B C Ration cards in world war two.
10 gallons a month to those deemed not necessary to the war effort.
I think we can do ten gallons a month on one vehicle but will have to cut a day or two off our work week to meet the total mileage range on 10 gallons.
no, you will just be walking.
Japan - China pact destroyed $ usage demand as they now settle trade in their own currencies. U.S needs a higher price of oil to make up for lost usage. China / Japan get their oil from Iran.
2 birds with 1 stone
Nice++
There will allways be someone who will buy your oil, especially if you sell it a few dollars under market price. Also they can't stop Iran from selling oil, Iran sells about 5% of the world's oil. Limiting oil supply by 5% would cause a lot of problems.
Man they are predictable.
But, but, but... Where is Greece going to buy their oil now? Their only crude creditor is now off-limits.
By the way, do you think that it´s a coincidence that the Iranian war games took place the same week as the Iowa caucus? I think not.My guess is the posturing will continue pretty much the same until the new POTUS is making his inaugural address. If it is Mitt/Santorum/Gingrinch making it the posturing stops that same minute, if it is Paul it will escalate. Think Iranian embassy hostages.
The US embassy in Tehran has been closed a long time.
Wut?!? When dat happen, bro?
Of course it is and it was the unorderly closing I refered to.
Here are the suppliers of oil to US:
http://205.254.135.7/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html
Venezuela (will see what happens with Exxon compensation rulling), Nigeria (war there already limiting production) and Russia (in case of war doesn't look too good either)
It's about that time to run up oil to the highs and beyond.
double post
How does fascism taste, america?
Occupy-":January 3rd will be a spontaneous show of people power in reaction to Obama’s treasonous signing of the National Defense Authorization Act. Not only does this act violate our first, third, fourth, fifth and sixth amendments, as well as the Universal Declaration of Human Rights and the International Covenant on Civil and Political Rights, but this Act was signed quietly this past New Years Eve violating what little trust remained between the people and their established government. We see what’s happening here, and we will not stand for it."
same day-
"Global Revolution, the team that has been doing media coverage for Occupy Wall Street since the first day of occupation, has been evicted from space it had in Brooklyn. The group was evicted from the building they were using by NYPD for “safety reasons,” however, other individuals using the building were not told to “vacate.”
It will be challenged by constitutional lawyers and will be overturned. I would not want to be the poor US citizen who gets this case brought to the Supremes but rather his banker.
cant be challenged, that the real nasty part of this, once declared an enemy combatant, you or any american will have no standing in our court systems. This cant be challenged, no one will ever get standing.
I agree to a point. Constitional lawyers though will challenge this on the grounds of enemy combatant being too broad including US citizens and at some point it will get overturned. We shall see though. Way too much freedom on the line to let this slide by unchallenged.
by the time those court challenges receive a final decision, the damage will be done.
isn't a plaintiff necessary? how are you going to get a plaintiff if all the potential plaintiffs are abducted or killed without notice to anyone to know if they are even a plaintiff this is a brilliant piece of legalese. it is unchallengable.
"I would like to file this constitutional challenge to the indefinite detention clause in the NDAA bill."
"And you are...?"
"An attorney specialising in constitutional law, acting on behalf of the ACLU."
"I see... come this way, please, sir."
*footsteps, sounds of door opening and then closing, muffled shouts and of hood being drawn over attorney's head*
If Americans get rounded up under whatever charges and sent to a FEMA camp ,then do they fall under the Geneva convention as POW,s , and if so allowed the red cross.
so all this will do is either:
make Iran push that much harder to get their nuke program in place
or
it sets in motion a showdown, that could cause a world war and collapse of economies.
do these policy makers even think? oh right... they dont.
Do they really think this latest move will make Iran say, oh, ok we are sorry, we will bow to you. I mean really.
Yes, they THINK....they think about fulfilling their evil, Lucirerian, Malthusian, Georgia Guidestone plans...
Long on depopulation, bitchez!
gold looks like it broke away today
January 2, 2012. Jerusalem. In one of the most blacked-out stories in America right now, the US military is preparing to send thousands of US troops, along with US Naval anti-missile ships and accompanying support personnel, to Israel.
It took forever to find a second source for confirmation of this story and both relatively mainstream media outlets are in Israel. With one source saying the military deployment and corresponding exercises are to occur in January, the source providing most of the details suggests it will occur later this spring. Calling it not just an “exercise”, but a “deployment”, the Jerusalem Post quotes US Lt.-Gen Frank Gorenc, Commander of the US Third Air Force based in Germany. The US Commander visited Israel two weeks ago to confirm details for “the deployment of several thousand American soldiers to Israel.” In an effort to respond to recent Iranian threats and counter-threats, Israel announced the largest ever missile defense exercise in its history. Now, it’s reported that the US military, including the US Navy, will be stationed throughout Israel, also taking part.
So they will move from Bahrain to Israel?
No time.
They need to get assets into place to prevent a classic Tet Type Offensive combined with a horrendous amount of saturation air attack via missile and perhaps other creative ways.
Now is the time to check those holes and make sure they are in good order for our troops.
But I am not in charge. The Joint Chiefs are and am pretty sure the local US Commanders and Officers are keenly aware over there.
Israel is awful small. Only about a hour or so fighter jet from Iran.
so when does russia tell the eurotrash they are gonna freeze this winter if they don't pay in rubles or renmimbi
PURIMFEST 2012!!!!
is this the cover for economic collapse and reset? blame it on the terrorist muslims because the zionists are the good guys? doing god's work? or are they just plain, everyday, ordinary fn out of their minds?
anyway, japan will pay dearly for their deal with china.
Crude Surges On News Europe Agrees To Ban Iran Oil Imports
...and EURUSD crashes.
Those Euro-morons are paying a high price to suck Obama cock.