WTI Tops $70 For First Time Since Nov 2014 As Iran Deal Deadline Looms

With the Iran Deal looking increasingly fragile, front-month WTI futures have just traded above $70 for the first time since Nov 2014.

$70 just happens to be the 50% retracement from the Aug 2013 highs to the Feb 2016 lows...

As OilPrice.com's Tsvetana Paraskova notes, US President Donald Trump has another week to decide whether to waive the sanctions against Iran. Expectations that he would not waive the sanctions this time around have supported the price of oil over the past month, with Brent briefly breaching above $75 to its highest price level since November 2014.

Analysts are still struggling to quantify the impact of possible fresh sanctions on Iran and prices are expected to be volatile as the deadline for President Trump’s decision is getting closer.

The month of May could be a very important one for oil prices with geopolitical risks stacked and too close to call. Apart from the Iran sanctions waiver, the market will be looking to the Venezuela presidential election that socialist leader Nicolas Maduro has scheduled for May 20.

“The geopolitical landscape will therefore remain tense and price conditions volatile,” Stephen Brennock, an analyst at PVM Oil Associates, told Platts on Friday.

Commenting on the Iran sanctions waiver, Commerzbank analysts said in a note:

“This will be the main issue preoccupying the oil market, with fundamental factors such as stock levels and production data taking a backseat until this has been resolved”.

Even more worrisome, as OilPrice.com's Kent Moors writes, is that Trump walking away from the deal, and possibly re-imposing sanctions on Iran could throw the oil market into chaos.

An agreement is an agreement, or so it’s said.

Tensions are skyrocketing after Israeli Prime Minister Netanyahu’s claim that Iran has violated the Joint Comprehensive Plan of Action (JCPOA) agreement.

This is the deal that was meant to shut down Iran’s nuclear weapons program.

Whether Netanyahu is correct or not, it puts the ball in President Trump’s court. Remember, he has questioned the JCPOA since before his election.

But while the talking heads on TV will tell you that cancelling the JCPOA and renewing sanctions on Iran will drive oil prices up…

The truth is much messier. Here’s what’ll really happen…

Iran’s Restrictions are Extensive – and Controversial

As we await a Trump decision on whether to continue the Iranian nuclear accord, the uncertainty is beginning to have an impact on oil’s pricing volatility.

The accord signed during the Obama administration is officially called the JCPOA. It was agreed upon in Vienna on July 14, 2015 after some 20 months of negotiations.

Signatories include the five permanent (and veto carrying) members of the UN Security Council (U.S., UK, France, China, Russia), Germany and the European Union (P5+1+EU) on the one hand, and Iran on the other.

Under JCPOA, Tehran agreed to eliminate its stockpile of medium-enriched uranium, reduce its store of low enriched uranium by 95 percent, and decrease the number of gas centrifuges for 13 years by some 67 percent.

Additionally, for a period of 15 years, JCPOPA states that Iran would do the following:

  • Not enrich uranium beyond 3.67 percent, enough for energy use but well below weapons grade;

  • agree to forego the building of any new heavy-water plants, essential to control nuclear reactions, over the same period, and

  • limit enrichment to a single location employing first generation centrifuges for a period of 10 years.

In return, the P5+1+EU agreed to begin phasing out – subject to a sequence of verifications – economic and trading sanctions imposed by the U.N., the U.S., and the E.U.

However, during the 2016 presidential campaign Trump heavily criticized JCPOA and pledged to scrap the accord…

America Wants More from the Agreement

In President Trump’s view, matters not part of the agreement – such as Iranian support for global terrorism, continued development of ballistic missile programs, and support for enemies of Israel and Saudi Arabia in the Persian Gulf region – need to be added to the arrangement.

As a result, the White House announced in October of last year that it would not provide the periodic JCPOA certification as required under U.S. law.

However, the administration did not end the agreement.

This week, Israel released documents claiming that Iran has continued its nuclear program in violation of JCPOA. The presentation was less than compelling, including little tangible information about the post-accord environment.

Both the International Atomic Energy Agency (IAEA) and independent watchdog organizations have said that there is no evidence to support the contention that Iran is evading JCPOA. The IAEA has the responsibility under JCPOA to monitor Tehran’s compliance.

Now, my Iranian contacts were quick to note the obvious: Each of the new demands made by Washington are not part of what is covered by JCPOA.

“One does not revise an international arrangement after the fact to pander to one’s own internal politics,” a source in the Iranian National Oil Company said over the weekend.

There is also strong support from other permanent UN Security Council members, Germany, and the EU to continue the agreement.

Yet all other parties are very aware that JCPOA will not survive if the U.S. pulls out.

And neither will the current oil environment…

The Future without the JCPOA Is Bleak

The global pricing of crude oil is now feeling the impact of the politics swirling about Washington.

I expect that the current intent inside The Beltway is to develop evidence to support the Israeli claims. But there seems to be little leverage to accomplish such an objective, even if the administration can figure out what it wants to add.

This is an exceptionally dangerous play with no clearly identifiable upside beyond delivering on a campaign pledge and a few tweets.

Trump may have made a threat to scrap JCPOA a central theme for his political support base and has said that a better replacement is needed, but that development has a very low probability.

Throwing out JCPOA will certainly put Iran back into full weapons development with a corresponding rise in geopolitical uncertainty.

And there will be a direct impact on oil prices.

Renewal of U.S. sanctions will increase the cost of Iran’s crude exports, cut Tehran off from easy access to global banking and capital, and in all likelihood reduce the country’s predictable export volume.

These are factors that would contribute to an upward pressure on international global oil prices.

But there are other things to consider – factors that could be even stronger and ultimately drive prices in the other direction.

For one thing, Iran would certainly stop any pretense of abiding by the OPEC-Russia production cuts. That, in turn, would prompt defections by others.

Moreover, the enticement for a spike in production will be almost irresistible for U.S. companies – which are both the quickest sources of additional oil coming into the market, and the main source not subject to production caps.

But the main destabilizing factor emerges from the acceleration in volatility itself.

Any perception of additional security challenges in the Persian Gulf – and make no mistake, the end of JCPOA will heighten tensions between Iran and Saudi Arabia – will contribute to a near-term rise in global prices.

The resulting uncertainty will quickly give way to a widening application of competing short and long plays, which, in a whipsaw effect, will result in higher highs and lower lows in the oil price band and make genuine pricing determinations more difficult.

Ask any trader.

Predictability is more important than anything else. Ending JCPOA thrusts the Iranian factor into the center of the equation.

And that will not be a preferable development.


FireBrander beepbop Sun, 05/06/2018 - 23:21 Permalink

How high does oil have to go before Ford reconsiders 10mpg Trucks as their only source of income? oh, and not just the price of oil should concern Ford...China is sticking it to farmers hoping Trump will cave to save them...I don't think Trump is going to cave and farmers are going to take it in the shorts for a while...farmers buy a lot of trucks; we'll they did in the past...

In reply to by beepbop

bshirley1968 Slack Jack Mon, 05/07/2018 - 00:54 Permalink

There is no oil "market". It is simple price manipulation to tax the public when needed.

Oil is one of the many tools they use to tap into the pockets of the sheeple. Just another "tax". They try not to go to it all the time or raise it enough to cause a riot, but it is reaching a point where to much higher will kill their attempts to stoke the economy as the sheeple are tapped out.

In reply to by Slack Jack

Brazen Heist bshirley1968 Mon, 05/07/2018 - 07:47 Permalink

Getting tired of the world constantly pandering to the sensitivities and insecurities of Jews. These people are not chosen, they're not special and they don't deserve so much attention.

Why did they develop nuclear weapons in secret without telling anyone? They don't even confirm or deny their weapons, the vaunted "policy of ambiguity". Why are they not a signatory to the nuclear non-proliferation treaty? What are they hiding? They even have a Samson option. Talk about a threat to security. So why should they be above the rules? Fuck them and the constant pandering to them. This behaviour clearly constitutes dishonesty, non-transparency and a threat to regional security.

Jews want their monopoly on nuclear power in the region, having attained theirs unscrupulously, and they constantly tug at Uncle Sam's cloak to do their bidding. Pathetic.

In reply to by bshirley1968

Slack Jack boattrash Sun, 05/06/2018 - 22:57 Permalink


So, why was the first world war planned and executed?

To establish Israel.

The plan was already well known in 1853.

"The subversion of the Turkish Power will evidently occasion, as all seem to anticipate, a fearful general war. This war will, I believe, be the last under the present order of things. It will commence, indeed, in Europe: but,... it will pass into Palestine.... and, in the course of its evolutions, Israel will be restored."

The quote is from George Faber's 1853 book on the downfall of the Turkish power and the return of the ten tribes.

It mostly came true:

"The subversion of the Turkish Power [the Ottoman Empire] will evidently occasion, as all seem to anticipate, a fearful general war [the first world war]. This war will, I believe, be the last under the present order of things [a new world order]. It will commence, indeed, in Europe [with the assassination of Archduke Franz Ferdinand in 1914]: but,... it will pass into Palestine [western troops entered Palestine early in 1917].... and, in the course of its evolutions [the second world war in 1939], Israel will be restored [Israel was created in 1948]."

In reply to by boattrash

Slack Jack Slack Jack Sun, 05/06/2018 - 23:02 Permalink


There are no ancient Jewish cities in Israel,...
but there are lots of ancient Greek cities.

What is weird is this; that 2000 years ago, it seems that there were no people even resembling Jews, in Israel.

It turns out that there is not a single ancient Jewish city in what is now called Israel. There is not a single ancient city where Hebrew characters are used on the statues and buildings. There is not a single ancient city where the buildings are in the ancient Jewish architectural style. In fact, there is not even a category of "ancient Jewish architectural style".

Of course, the Hebrew characters that are desired, are those of the Dead Sea scrolls (supposedly from 2000 years ago), which are essentially the modern Hebrew characters without points.

If you check out all the ancient cities in Israel from 2000 years ago, they are all Greek, and their ruins are still there for you to visit. Their inscriptions are in the Greek script and the buildings are in the ancient Greek architectural styles.

Here is a list of some of the known ancient Greek cities in (and near) Israel; Ecdippa, Seleucia, Ptolemais, Taricheia Arbela, Asochis, Sepphoris, Hippos, Dion, Sycaminum, Bucolon Polis, Itabyrium, Gadara, Abila, Dora, Comus, Gephrus, Crocodilion Polis, Caesarea, Straton's Tower, Narbata, Scythopolis, Pella, Samaria, Amathus, Ragaba, Gerasa, Apollonia, Sicima, Pegae, Joppa, Arimathea, Jamnia, Port of Jamnia, Lydda, Modiin, Aphaerema, Philadelphia, Birtha, Gazara, Beth Horon, Dok, Jericho, Samaga, Esbus, Medaba, Ladder of Tyre, Azotus, Port of Azotus, Accaron, Jerusalem, Ascalon, Anthedon, Gaza, Marissa, Beth Zur, Hebron, Adora, Engeddi.

The ancient Jewish cities in Israel are,....... well there aren't any. Not even one.

Here's an interesting example of a first century BC Greek inscription (i.e., in Greek letters) from Jerusalem's Temple Mount forbidding the entry of strangers to the Temple precinct.


The pictured stone was found in 1935. It was actually the second such warning-stone to be found, the first being discovered by Charles Simon Clermont-Ganneau in 1871. This stone was deemed so dangerous to the "Jews inhabited Israel 2000 years ago" theory, that it completely disappeared for 13 years before resurfacing in Istanbul, where, it was correctly calculated, it would not attract much attention.

From: https://www.timesofisrael.com/ancient-temple-mount-warning-stone-is-clo…

The first Jerusalem Temple Mount warning-stone, now found in the Archaeology Museum, Istanbul, is pictured below:


It says (in Greek): "No stranger is to enter within the balustrade round the temple and enclosure. Whoever is caught will be responsible to himself for his death, which will ensue."

The oldest synagogue in Israel (is a Greek synagogue).

The word synagogue = ΣΥΝΑΓΩΓΗ is a Greek word for a gathering of people, assembly, or meeting place.

It is exceedingly strange that Jews should have chosen a Greek word to name their churches.

Here is a photo of the dedication stone of the oldest (once existing) synagogue in Israel.


Note that the inscription is in Greek letters.

The stone is known as the Theodotus Inscription. The building that the stone was once part of, has not survived. The stone was discovered by Raimond Weill in 1913 at Mount Ophel in Jerusalem. It was found dumped in a cistern. The style of the Greek characters dates it to the first century B.C.

It states: "Theodotus, son of Vettenus, priest and archisynagogue, son of an archisynagogue, grandson of an archisynagogue, built the synagogue for the reading of the Law and the teaching of the commandments, and guest-house and the rooms and the water supplies for the lodging of strangers in need, which his fathers founded and the Elders and Simonides."

Note that Theodotus has a Greek name.

Note that his father Vettanos has a Greek name.

The word archisynagogos means "leader of the synagogue". So, it seems that three generations of Greeks headed the oldest (known) synagogue in Israel.

I wonder why the early "Jews" hated Hebrew and loved Greek.

Slack Jack's CHALLENGE:

Name ONE ancient city (that existed in what is now called Israel) where the building inscriptions are all in Hebrew, and the buildings are constructed in the ancient Hebrew architectural style (whatever that may be).

Then give a summary of "the ancient Hebrew architectural style" (you will have to make this up as it does not yet exist).

Then give links to photos of the ancient building inscriptions which show that they are written in Hebrew.

Then show that the buildings are constructed in the ancient Hebrew architectural style (that you have just invented).


It's been MANY MANY MANY months now and still no one is up to the challenge.

So, no one can provide solid evidence that even ONE ancient city in what is now called Israel, was unequivocally Jewish, 2000 years ago.

In reply to by Slack Jack

Mr. Ed Slack Jack Sun, 05/06/2018 - 23:08 Permalink

Oh blah, blah, blah...

What we are seeing is one more geo-political trick over-layed on the legacy of Tillerson (Secy of State from the oil patch!)

How did he do it?  Crude purchases to drive up "demand" with under-the-table rebates to the co-conspirators?

How do you explain the phoney demand?  The synchronized global growth story is a fiction, but I guess that's not enough - we need war tensions and sanctions on top of it to kill supply.

Does it help that the futures market trading is 25 TIMES the size of spot market trading?

I was pumping gas today and thinking about how many new Mercedes would sit in the desert and rust... the MBS plan for a new Saudi society... yeah right.  Bunch of Arabs just like always.

But of course this will help pay for all the Saudi weapons purchases that will create MIC jobs in the USA!  One hand washes the other, right?  ...while US motorists get the shaft.

USA! USA! USA! USA! ...makes me cringe every time I drive past a gas station.

Of course, Tillerson and his oil-exec buddies are happy.

I don't go into a major rant too often but this whole crude thing stinks to high heaven!

In reply to by Slack Jack

FireBrander Slack Jack Sun, 05/06/2018 - 23:27 Permalink

There are no ancient Jewish cities because the Jews have been assholes since day one..everything they've ever built has been destroyed a 100 times over.

..and since you like LONG POSTS, try this one:

135 B.C
Antiochus Epiphanes desecrates Second Jewish Temple; leading to Hasmonean Revolt against the Greeks.

70 A.D.
Titus took Jerusalem - second revolt. Over one million Jews killed.

136 A.D.
580,000 men destroyed, 985 towns destroyed - third revolt.

300 A.D.
Purim festival celebrating God's deliverance to Mordecai and the Jews through Esther and the fasting. Lies spread that Jews kill Christians for sacrifice. Emperor Severus also said the Jews purchased 90,000 Christians to kill them.

306 A.D.
Council in Spain banned Christians & Jews meeting or marrying.

325 A.D.
Constantine changed the celebration of Easter on the calendar so that it did not coincide with the Jewish Passover.

379 A.D.
Vicious writing by St. John Chrysostom and St. Ambrose in Milan who said: "The Jews are the most worthless of all men. They are lecherous, greedy, rapacious. They are perfidious murderers of Christ. They worship the Devil. Their religion is a sickness. The Jews are the odious assassins of Christ and for killing God there is no expiation possible, no indulgence or pardon. Christians may never cease vengeance, and the Jew must live in servitude forever. God always hated the Jews. It is essential that all Christians hate them." He was called the Bishop with the Golden Tongue. St. Ambrose, Bishop of the Church offered to burn the synagogue himself.

395 A.D.
St. Gregory of Nyssa in sermons and writings characterized Jews as assassins of the Prophets, companions of the Devil, a race of vipers, a Sanhedrin of Demons, enemies of all that is beautiful, hogs and goats in their lewd grossness.

415 A.D.
ACCUSATION of Ritual murder by the Jews during Purim. Christians confiscated synagogues in ANTIOCH.
These were not hooligans but Church Fathers!
AUGUSTINE, JEROME, AMBROSE AND LESSER SAINTS AS ST. CHRYSOSTROM AND CYRIL, added to untruths the new ones that Jews were dishonest and prone to sexual perversions.

717 A.D.
Jews had to wear special yellow garb. Originated in Islam.

1012 A.D.
Emperor Henry II of Germany expels Jews from Mainz, the beginning of persecutions against Jews in Germany.

1096 A.D.
First Crusade. Crusaders massacre the Jews of the Rhineland.

1144 A.D.
First recorded blood libel. In Norwich it was alleged that the Jews had "bought a Christian child before Easter, tortured him with all the tortures wherewith our Lord was tortured and on Friday hanged him on a rood in hatred of our Lord." (England)
This notorious allegation that Jews murder non-Jews, especially Christians, in order to obtain blood for the Passover or other rituals is a complex of deliberate lies, trumped up accusations, and popular beliefs about the murder-lust of the Jews and their blood-thirstiness, based on the conception that Jews hate Christianity and mankind in general. It is combined with the delusion that Jews are in some way not human and must have recourse to special remedies and subterfuges in order to appear at least outwardly, like other men. The blood libel led to trials and massacres of Jews. Its origin is rooted in ancient almost primordial, concepts concerning the potency and energies of blood. It is one of the most terrible expressions of human cruelty and credulity. These blood rituals are expressly forbidden in Judaism. (See Leviticus 17;11 etc.)

1190 A.D.
Massacre of Jews in England.

1215 A.D.
The Jewish badge introduced.

1240 A.D.
Talmud burned in France.

1290 A.D.
Jews expelled from England.

1298 A.D.
Massacre of thousands in Germany, in 146 localities.

1306 A.D.
Expulsion from France.

1348 A.D.
JEWS blamed for the BLACK DEATH. Charge laid to the Jews that they POISONED the wells to kill CHRISTIANS.

1389 A.D.
MASSACRES in Bohemia, Spain.

1421 A.D.
270 JEWS BURNED AT THE STAKE. In the 14th and 15th centuries the Inquisition was more intense because the Church and State joined forces. Just being Jewish guaranteed persecution

1480 A.D.
Inquisition in Spain - Jews and Christians burned at the stake.

1483 A.D.
EXPULSIONS from Warsaw, Sicily, Lithuania, Portugal.

1492 A.D.

1506 A.D.
Murders in Lisbon - 4000, "conversos", men, women, and children thrown from windows to street mobs below, due to preaching by Dominicans against the Jews.

1510 A.D.
EXPELLED from Brandenburg, Germany.

1516 A.D.
Venice initiates the ghetto, the first in Christian Europe.

1544 A.D.
The Reformation. At the end of Martin Luther's life the German reformer vilified the Jews in violent pamphlets which could not fail to exert their influence. But because Calvinists were steeped in Old Testament theology, the Dutch people respected the Jews as "the Chosen" people; and were not anti-Semitic in their faith. The reformation was a time of turmoil as the Roman Church and feudalism lost their supremacy. There was a rising up of Nationhood and Luther was a German nationalist. The Talmud was seized and burned everywhere by Papal authority. Jews in Catholic countries and Polish Jews suffered greatly. Luther's anti-Semitic writings were later used in anti-Semitic literature.

1553 A.D.
Rome seized and burned the Talmud by order of the POPE.

1559 A.D.
12,000 copies of Talmud burned in Milan.

1569 A.D.
POPE PIUS V ordered all Jews out of the Papal states.

1593 A.D.
EXPULSIONS from Italy and Bavaria.

1598 A.D.
Ritual murder charge that sent three Jews to their deaths. Execution of the supposed guilty was done by QUARTERING. (In his book the "Birth of the Prison" Michel Foucault describes at length the quartering of a condemned man in 1757. It was done eventually by six horses instead of the four original ones and other means had to come in to play due to the failure even of six horses as the prisoners limbs were tied to ropes harnessed to the horses. Each horse pulled in a different direction. One horse fell to the ground unsuccessfully. Knives had to be used for severing...)

1614 A.D.
JEWS attacked and driven out of Frankfurt, Germany.

1624 A.D.
GHETTO established in Ferrara, Italy.

1648 A.D.
Leader of the Cossacks, in the Ukraine massacres 100,000 Jews and destroyed 300 communities.

1655 A.D.
Massacres of Jews in war against Sweden & Russia by Poland.

1715 A.D.
POPE PIUS VI issues edict against Jews.

1768 A.D.
20,000 Jews in Poland killed.

1805 A.D.
MASSACRE of Jews in Algeria.

1840 A.D.

1853 A.D.

1858 A.D.
THE MORTARA CASE: Catholics abduct a 7 yr. old Jewish child. A Catholic servant baptized a Jewish child when the child was seriously ill and the church of Rome seized the child. Outcry had no effect on the POPE.

1879 A.D.
Word anti-Semitism comes into existence.

1881 A.D.
POGROMS BEGAN. The word is of Russian origin. It designates attack, accompanied by destruction, looting of property, murder, rape. There were three major outbreaks in Russia. The word designates more particularly the attacks carried out by the Christian population. Each pogrom surpassed the other in savagery.
KIEV, ODESSA; Here murder of whole families was a common occurrence. Partial data are available for 530 communities in which 887 major pogroms and 349 minor pogroms occurred. There were 60,000 dead and several times that many were wounded.

1882 A.D.

1894 A.D.
ALFRED DREYFUS TRIAL in France. Details follow further on in this summary.

1903 A.D.
APPEARANCE of a new issue of the PROTOCOLS OF THE ELDERS OF ZION. In Russia.
This spectre of a worldwide Jewish conspiracy aiming at reducing the Gentiles to slavery or extermination loomed up in the medieval Christian imagination and grew out of legends about well poisonings and plague spreading. It was concocted in Paris by an unknown author working for the Russian secret police. It was an alleged conference of the leaders of World Jewry. It was translated into all the world languages. In 1963 a Spanish edition was published. During World War II, the Protocols of the elders of Zion became an implicit justification for the GENOCIDE of the Jews and Nazi propaganda relied on them until the last days of the Third Reich. Smaller pamphlets of it have been distributed in B.C. 1983 published in California... Required reading in most Arab countries, in schools, to this day.

1905 A.D.
Russian pogroms continue. Also in Morocco, Ukraine, 300 dead.

1919 A.D.
3000 Jews killed in Hungarian pogroms.

1920 A.D.
Appearance of ADOLPH HITLER. Also Henry Ford the 1st believes the Protocols; and publishes anti-Jewish articles in his newspaper, the Dearborn Independent.

1925 A.D.
MEIN KAMPH appears. Hitler's Plan published in Germany.

1933 A.D.
HITLER appointed chancellor in Germany.

1935 A.D.
Hitler writes his Nuremberg Laws which lead to his Final Solution.

1938 A.D.
Burning in AUSTRIA & GERMANY of Synagogues. Jews sent to concentration camps. Beginnings of the Holocaust.

1939 A.D.
Germany overruns Poland.

1940 A.D.
Gassing, shootings in Polish Ghettos (Jewish).

1941 A.D.
EXPULSION of Jews from the German Reich to Poland. Riots against Jews in Iraq.

1942 A.D.
Mass transports of Jews to Belgium & Holland.

1944 A.D.

1945 A.D.
HOLOCAUST Final Count: 6,000,000 Jews slaughtered.

1946 A.D.
Pogroms in Poland - 42 Jews murdered.

1948 A.D.
BIRTH OF THE STATE OF ISRAEL. Also Jewish intellectuals shot in Russia.

1952 A.D.
Jews murdered byCommunists, and others disappear. Prague trials. Murder of Yiddish intellectuals in Russia and many sent to work camps..

1956 A.D.
Jews expelled out of EGYPT.

1967 A.D.
SIX DAY WAR. Also new publication of Elders of Zion in Arabic.

1968 A.D.
Emigration of last remaining Jews in Poland.

1969 A.D.

1970 A.D.
Beginning of imprisonment in Russia of PRISONERS OF CONSCIENCE. ("Refuseniks")

1980 A.D.
Russian imprisonments carry on throughout the 70's to the 80's.

1982 A.D.
War in Lebanon begins

In reply to by Slack Jack

Lie_Detector FireBrander Mon, 05/07/2018 - 09:50 Permalink

Whatever you say or do (concerning Israel) the Lord God Himself said He will do it to YOU (even nations). If you bless Israel (as I bless Israel) you will be blessed. If you curse Israel YOU will be cursed. God said it in His Word, not me. He sent His only Son (Jesus) through the bloodline of Abraham, Isaac and Jacob. God said in His Word thousands of years ago in the last days he would bring the Jewish people back to their homeland that HE gave to them. You can't foretell anything in the future. Only God can as He is eternal. When you reject Israel you reject Jesus. EVERY knee WILL bow to Him. If you don't repent remember on that day that you were warned here. The decision you make now will effect all of eternity. As for me and my house, we bless Israel and trust Jesus. 

In reply to by FireBrander

LetThemEatRand Sun, 05/06/2018 - 22:24 Permalink

I remember driving through Arizona when gasoline hit $4/gallon.  At the time I was making enough money that I didn't care, but it was still shocking to put $50 in the tank of the rental car.  It wasn't long after that the shitstorm of 2007 began.

BobPaulson Oldwood Sun, 05/06/2018 - 23:18 Permalink

There's plenty of oil if you're cool making 5% return on investment. The problem has never been whether there is oil left. There is plenty of that. We're also only harvesting about one 10000th of the available solar energy hitting earth. Does that mean there is an untapped bonanza of solar energy out there?

In reply to by Oldwood

ReturnOfDaMac Sun, 05/06/2018 - 22:59 Permalink

Fucking reloonicans, every time these assholes are in charge, oil goes up.  Goddamit, Barry finally got that shit down to the $30's and it didn't take this ignorant fucker a good year to double it.  And the ignorant, mindless, dumbass tRumptards and conservatards cheer as they send more and more loot to KSA for their trip to work.  These dipshits are cheering as money is taken out of their own kids future and put into the pockets of KSA oligarchs.  Such dumb dipshits that they don't even see that this is not MAGA but M-KSA-GA.  I want my dolla king again.  Oil back in the mid 30's bitchez.  Leave the damn Persians alone, let Iran pump suckas.  I want cheap oil.

3-fingered_chemist ReturnOfDaMac Sun, 05/06/2018 - 23:33 Permalink

Seem to recall that OPEC was pumping a lot to try to put the frackers out of business at the time. That still hurt OPEC's bottomline with a large glut of oil on the market. This is the flipside, but now the frackers have started up again. 

Nonetheless, the price of crude is really determined by refining capacity. We could pump crude until blue in the face, but if there is a bottleneck in being able to crack the crude into usable products, the price will fluctuate a lot. US hasn't built a refinery since the 70s if I recall correctly. Seems almost by design.

In reply to by ReturnOfDaMac

mc888 3-fingered_chemist Mon, 05/07/2018 - 00:19 Permalink

Seem to recall that OPEC was pumping a lot to try to put the frackers out of business at the time.

That's the mainstream narrative. Just a coincidence they were trying to cripple Russia's economy at the same time. Low oil prices were meant to "punish" Russia after the Ukraine coup but they wound up hurting SA. Prices rose again after Trump and MBS formed their new alliance.

In reply to by 3-fingered_chemist

crossroaddemon Mon, 05/07/2018 - 00:02 Permalink

Fucking crazy. No policy that will lead to an increase in the price of...well... anything... is in our best interests. If you're going to be stupid enough to vote, at least have the sense to vote with your wallet. I don't care if Iran has nukes, and I don't give a fuck if the frackers go under. Oil should be  between 30 and 40 dollars per barrel.

whatamaroon Mon, 05/07/2018 - 00:13 Permalink

President Trump got partially elected on the fact that if it weren't for pictures of pallets of various foreign currencies secretly showing up in Iran, and the Obama admin. being caught red handed doing shit underhanded the American public would never have known. President Trump rightly called it out as WTF?. Big red flags that the so-called "Iran deal" was a bunch of bullshit! The MSM was desperate to give the half-breed lawn jockey a success with Iran.  The 'agreement' was never presented as a treaty and never fully disclosed.

boostedhorse Mon, 05/07/2018 - 01:34 Permalink

Obviously he'll stay in the deal. Why else would have Macron patted him on the back when they left the stage after their press conference. And he is a politician after all and absolutely cannot afford higher oil prices right now.

lizzoilz Mon, 05/07/2018 - 04:19 Permalink

The analysts from Shepwave are the only ones to correctly predict the moves in oil and stawks. Last two weeks of volatile moves in the markets will continue 


Keep it up