Tag Archives: Energy Independence

Trump Won’t Make Peace With Russia

Trump won’t make peace with Russia. Simply put, he can’t. Too many of his donors, and too many of his campaign promises are riding on his amping up US oil and gas production. He can’t keep that production up if he crashes prices, and that’s what would be necessary to get peace with Russia. I got annoyed enough at these simple facts being left out of all the coverage over the past week that I went ahead and made an unproduced video on the topic.

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Saudi Arabia Goes To War | Coronavirus 2 | Oil Endgame | Markets Are Dumb 11

This Coronavirus thing impacts everything. The oil market is no exception. I’ve committed to some pretty strong predictions about the future of the oil market and how it means the end of the current regime in Saudi Arabia. I still stand by all of those predictions, but it’s hard to say whether this current crisis accelerates the timeline, or slows it down. Starting March 6th, Saudi Arabia went to war against every other producer in the world.

I believe that the US oil industry will be the most prominent victim. The sustained period of low oil and gas prices we are about to experience may bring us to an inevitable future more quickly. Saudi Arabia will be the last oil producer. The crucial question remains the price at which they are able to sell that oil for. It’s now possible to envision a future where Saudi Arabia controls price again… but only briefly. Today’s video explains…

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Video Transcript after the jump…

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