Tag Archives: ConocoPhillips

Trump Is the OPEC President | Venezuela 3 | Libya 3 | Iran Sanctions 3

Some videos come pretty easy, and today’s video is one of them. I really like it when new ways of looking at stuff pop into my head. The more I think about it though, there are other aspects to this I should have included. The shift in the oil market here is pretty extraordinary. It’s actually the birth of a sort of “Super OPEC”. It’s also an OPEC that’s a lot more dangerous for its members. With a US president in charge, especially a US president listening to Texas oilmen, military operations become a potent tool of market making.

The world, and the US, used to have a minimal investment in the stability of petro-states. In the long term, these places should be happier without US supported perma-leaders, but the short term looks increasingly grim. As oil demand peaks, the ballooning US petroleum industry will need to be protected. The US can do this by knocking off competitors one by one. This could be an underappreciated aspect of Libya’s permanent oil crisis since 2011. Petro-states on each side of the conflict have no incentive to get their proxies on the same page and producing more. Venezuela is being knocked out. So is Iran. Destabilizing Iraq would be very easy. Saudi Arabia is super shaky. A broader war in the Middle East would be horrible, but it would be pretty great for the new head of OPEC… The US president.

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Video Transcript after the jump…

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How One US Oil Company Is Wrecking Venezuela

Today’s video was super tough to put together. Back in the early days of this channel I had a gloriously scatter-shot approach. I would just put up a video on whatever bugged me that week. I would jump around from exciting poverty solutions in Colorado, to how much I disliked Rick Santorum and Mike Huckabee, to in depth theories about the fascist underpinnings of Batman V. Superman. I’m honestly a bit surprised by how well all of these hold up. I think it’s because so much of how issues (and films!) are covered is so surface and superficial, that bringing any context at all to them makes for pretty good videos. That said, I’ve got a video or two, on Iraq specifically, that I don’t think holds up all that well.

In recent years the focus of the channel has changed. I dive in deep on what’s going on in certain countries like Turkey, Saudi Arabia, Syria or Yemen. This new, in depth approach has been great for the channel, and I think it also makes for much better videos. When something comes up with one of those countries, I usually have a pretty good idea of what I want to say, and I usually have some good, under-covered context to add to the conversation. Writing those scripts rarely takes more than 5 or 6 hours. My research on those countries is constantly on-going, and I don’t have to think too hard to put together something I’m proud of.

This one was different. I don’t claim to be an expert in anything, I only promise to do a better job than any cable news channel. This is super easy with the countries I’ve been covering for years. Venezuela is new for me. For years I’ve wanted to do more Latin America coverage, but I haven’t had the time to do the in depth reading that is necessary. It’s impossible to avoid having an opinion on Venezuela of course, but they are not really “MY” opinions. It’s what I’ve been force fed by other news sources. That made writing this one super tough. I had to try to cut through the layers of bullshit and say something original. The story of what’s really behind Venezuela’s drop in oil production was one I’ve wanted to tell since May, but the framing was super difficult. I just don’t have the necessary context, which I hope I made clear… Today’s video went through multiple drafts over multiple weeks. I hope you think it was worth the wait!

If you’d like to earn my undying gratitude, please click here to support this project through Patreon. Please do reach out to us through Twitter, Facebook, Youtube, or our e-mail newsletter.

Video Transcript after the jump…

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