Ever wondered where the United States imports its oil from? Howmuch.net came out with some infographics to show that from 2000 to 2015. What we would highlight here is the notable shift from the U.S. depending heavily on Middle East countries and Mexico, to depending more on America's neighbor to the north, Canada.
Central bankers have the unchaperoned power to create the greatest fortunes ever known to mankind at will and to invest that money wherever they want. With trillions of dollars at their disposal and trillions more whenever they want to conjure it into existence, what is to stop them from controlling the oil market just as they have stocks and bonds?
For the past few months, we have been shown the massive crowds of millennials flooding Bernie Sanders rallies, and the dyed in the wool democrats who have been flocking to Hillary's. The narrative has been that the Democrats have really generated some enthusiasm this year that hasn't been seen in the past. As is often the case, however, propaganda is much different than reality.
UnitedHealth made its divorce with Obamacare complete when it announed plans to exit most of the Affordable Care Act state exchanges where it currently operates by 2017. During a conference call with analysts Tuesday, CEO Stephen Hemsley noted that "next year we will remain in only a handful of states."
Obamacare Exodus Accelerates: After Georgia And Arkansas, Biggest Health Insurer Exits Michigan And OklahomaSubmitted by Tyler Durden on 04/18/2016 15:36 -0400
Two weeks ago it was Georgia and Arkansas, then over the weekend Michigan, and moments ago UnitedHealth, the largest US halth insurer announced it would exit the Michigan And Oklahoma Obamacare markets. This is just the beginning
Today the stock of CHK is surging following the good news that contrary to some expectations, it did not lose access to its $4 billion line of credit. However, that came at a cost: to preserve its full $4 billion availability, Chesapeake was forced to pledge almost all of its natural gas fields, real estate and derivatives contracts. In addition to most of its gas and oil reserves, Chesapeake pledged as collateral all hedge contracts, property, deposit accounts and securities, subject to certain undisclosed carve-outs, according to the regulatory filing. In other words, the entire company.
While we all very capable of discerning the 'recovery' facts from the peddled recovery fiction throughout President Obama's reign, a close up over the last six months suggests things are getting worse in a hurry. As The Economic Collapse blog's Michael Snyder details, while most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, that is not true at all.
- U.S. readies bank rule on shell companies amid 'Panama Papers' fury (Reuters)
- Co-Founder of Mossack Fonseca Defends Law Firm at Center of ‘Panama Papers’ (WSJ)
- Fed's Cautious Approach on April Rate Hike Raises Stakes for June (BBG)
- Dollar sinks again after Fed remains cautious (Reuters)
- New Tax Rules on Inversion Deals Are Met With Protest (WSJ)
- Fed Chairs Since 1979 Offer Peek Into Central-Bank Philosophy (BBG)
The result of the recent mega short squeeze in oil, has been a significant revulsion to shorting oil directly or indirectly, either by way of the underlying commodity or energy stocks, many of which have soared in tandem. And yet the shorts remain, and continue to press their bets on the troubled energy sector. However, instead of directly shorting crude and various first-derivative oil and gas companies, short sellers - burned by the recent squeeze - have changed their strategy and shifted their sights to secondary exposure, namely those regional banks that do business with the industry.
Following Portugal’s model, Hawai`i could become the first state in the U.S. to decriminalize all drugs - including cocaine and even heroin.
Whatever one may think of Donald Trump, his campaign has done us a service - exposing the underbelly of a decaying establishment whose repudiation by America’s silent majority is long overdue.
"A Dreaded Scenario For Oil Bulls Is Becoming A Reality" Reuters Warns: U.S. Production Is Coming Back On LineSubmitted by Tyler Durden on 03/21/2016 09:24 -0400
With oil surging above the critical $40 new "floor" price, as Reuters put it moments ago, "a dreaded scenario for U.S. oil bulls might just be becoming a reality." The reason: some U.S. shale oil producers, including Oasis Petroleum and Pioneer Natural Resources Co, are activating drilled but uncompleted wells (DUCs), which is sure to bring back more crude to a saturated market and dampen any sustained rebound in prices.
Price forecasts are always wrong, and often wildly off the mark. While it is difficult, if not impossible, to accurately predict price movements, especially a year or two out, it is impossible to argue with the sky-high levels of oil sitting in storage. Even if U.S. oil production continues to decline, the greater than 500 million barrels of oil inventories – a record high – need to start declining in a substantial way before the oil markets will see a sustained rally.
Today at 11:00, President Obama will announce Merrick Garland as his nominee for the Supreme Court seat left vacant by the death of revered Justice Antonin Scalia.
So far in 2016, Oklahoma has seen six quakes of magnitude-4.0 or higher, including a 5.1. The largest earthquake ever recorded in Oklahoma was in November 2011, a magnitude-5.7 and is believed to be the largest quake induced by fluid injection in the U.S., and is likely one of the largest induced quakes ever. USGS has taken notice - "The more small quakes you have, the higher the chances for a larger quake to occur."