Tag Archives: Oil Prices

Saudi Arabia Did This To Itself | Abqaiq Attack | Yemen 19

I dislike reacting to events quickly, the way that this video does. But this channel obviously couldn’t let the attack on the Abqaiq refinery go uncommented on. Saudi Arabia is sort of my bread and butter, and this could very well be the biggest thing that has happened to Saudi Arabia since it’s idiotic decision to invade Yemen back in 2015. Two weeks later, I’m pretty pleased with my coverage. In the video I referred to my surprise that the oil price spike had been so small. My surprise has only grown.

As of today, the price of Brent Crude oil fell back below the 60 dollars a barrel mark. Two weeks after an attack disrupting half of Saudi Arabia’s production, oil prices are back where they were before the attack, but the oil market has changed irrevocably. In the comments, and unfortunately in the video itself, there is a lot of emphasis on how quickly or slowly Saudi production resumes. That’s important, but it’s not that important. Two weeks later, it’s still not entirely clear what the on the ground impact is. The important thing is that the market no longer seems to really care that much. Reading articles on outlets like www.oilprice.com has gotten seriously depressing. It’s become clear that high prices, not really seen since 2014, are not returning any time soon. I said it in the video, and I’ll say it again now, with two weeks of reinforcement: This is HUGE. Ten years ago, even if Saudi Arabia restored full production the within hours, prices would have spiked, and wouldn’t have come down for months. The attack itself would have sent a message of risk and worry that would jack up prices for weeks.

Now that the worst has happened, and prices haven’t gone up at all, a different message is being sent, loud and clear: Saudi Arabia just doesn’t matter that much anymore.

If you’d like to earn my undying gratitude, please click where 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…

Continue reading

Columbus Day Is An SJW Holiday

US immigration history is hilarious. And also more than a bit tragic. New groups arrive. A new set of yahoos comes out of the woodwork, spouting the same hogwash as similar defenders of “Real America”, decades or even centuries before. Rinse, Repeat. Today’s video on Columbus Day peels those layers back a bit. 100 years ago, US bigots weren’t worried about Muslims or Mexicans, it was the Italians, and to a lesser extent the Slavs and the Jews. If you look back at this earlier era of bigotry, the arguments are almost exactly the same. The fear of change, “being swamped by multitudes” and having our culture changed never fades away. It’s never been justified either.

We’re in a weird panic transition moment in the United States today. Both of the great “threats” hyped by our modern morons, “Islamic Terrorism”, and the “Mexican Invasion” are fading away. As I predicted years ago, lower oil prices mean that there is less Gulf money for extremism. Also, Muslim countries outside of the gulf are getting rich enough to liberate themselves from the Saudi-CIA corruption of their versions of Islam. As I have also talked about at great length, migration from Mexico is basically done, and the few tens of thousands coming from Central America will never amount to the same sorts of numbers. Affirmative Action may keep the idea of a distinct Latin identity a little stronger than Italian-American distinctiveness, but in practical terms, the distinct group of Mexican migrants is already assimilating away.

The entrepreneurs that profit off of these old bigotries are still profiting, from YouTube to the White House. These panics are always strongest after the phenomena in question have passed, but savvier operators can already see them fading away. The Pentagon has now abandoned “terrorism” as a threat and they are now trying to push “great power rivalry” though that doesn’t really exist yet either. Forward Thinkers!

I don’t know who the next group to be panicked about will be. My hunch is that it will probably be Africans, as that continent is the only one that will be offering surplus population in the decades to come. Perhaps it will be Chinese or Indians, as the rising wealth of those countries, or perhaps a crisis in one of them leads to more migrants. We can be sure, however that there will be a new group for morons to panic about. This is profoundly sad of course, but it’s also a bit reassuring. We’ve seen these waves of bigotry before, and they’ve receded before. There is nothing new under the sun.

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…

Continue reading