Calculating a “break even price” is a fools errand, unless you make assumptions that the price for oil leases is fixed and the price for labor is fixed.

Refining our own crude is not “near impossible”, unless you are talking immediate term. As it is, it is more economical for the U.S. to export high quality light crude oil and import hi sulfur heavy oil from Canada and Mexico, because it is cheaper and a lot of our refineries can handle it. This strategy is optimum. But if economics change, refineries will invest money in relatively low tech fixes to run the lighter crude.

Competition is beautiful. I’m loving the $1.30/gallon price. Keep competing for my business boys.

Treating the symptoms and not the cause. There is an ancient term called usury, which is charging interest for non-productive loans. Examples include credit card debt, government debt, and college loans. Outlaw that, and the problem is cured. If we take the author seriously, the U.S. is better off carrying $24 TRILLION in federal debt than if the U.S. government had zero debt. You don’t need an economics degree to see the absurdity of this, just common sense.

That the government needs to support “general demand” is stupid. You need savers, through their banking representatives, to pick through investment ideas and invest in the most productive. Is this error free? No, there will be mistakes, but overall you will have more successes, far more than a blanket policy by the Feds.

Furthermore there is nothing wrong with a mild deflation, where prices slowly drop as productivity improves. I’m glad I now pay less for a new computer.

Viruses are not used as bio weapons. That is because they mutate and you’ll end up killing your own side. You use anthrax, which is delivered as spores and is fragile in sunlight.

Most likely this came from vaccine research and leaked out. China is covering it up because it makes them look like commie idiots, which they are.

Here’s another example. EVERYONE knew that Greece could not pay back its debt. And in fact the Greeks elected a government that was going to default on that debt. What happened? Once the new government got into power, they backed down and did not do this jubilee. Why?

Because having a jubilee on the government debt would require that the government balance its budget, which was politically impossible. It also meant going back to the drachma, which would quickly devalue and wipe out all retired people and cause huge price inflation.

There’s no such thing a free lunch. The damage is already done. Our parents already spent the money. Now comes the pain.

A couple of points:

Suppose a tatted up single mother with 5 kids from 7 Dads asks you for advise so she can have a normal married life. Your response would be: it’s too late.

I AGREE that usurious unproductive debt is a great evil. Unfortunately it’s too late. We went on a huge debt binge. To have a debt jubilee on the US Fed debt alone would mean printing $20 Trillion, and you’ve barely touched the debt at that point.

On the historic debt jubilees, what you all are missing is the EVERYONE KNEW IT. So debts were structured so that they would be paid off before the debt jubilee year (every 7 years). This was a great policy as it basically made usury (unproductive, unpayable debt) de facto impossible and thus prevents debt slavery. However you all are proposing a retroactive debt jubilee which will wipe out pensions and insurance, OR lead to $100 Trillion in money printing.

We have a major problem which may not have an answer. The first step is to balance the US and Sate budgets. After that, outlaw interest payments on usurious debts, outlaw issuing debt for stock buy backs, and get rid of credit cards. So if you have student debt, you’d pay back only the principle with zero interest. Then outlaw student debt going forward.

Didn’t address my argument, just emotional BS. If you grant a debt jubilee, the holders of debt, e.g. pensions and insurance companies, get wiped out. How would you deal with that?

“Debt Jubilee” is stupid. Go ahead and tell all the people on pensions and everyone with a life insurance policy they will get 50 cents on the dollar if they are lucky.

And if you don’t balance the US budget, the debt creation will continue.

Debt Jubilee “treats” the symptoms.

I’ll say this, the Fed should pump money to people. So if you give everyone $3,000, that’s $1 Trillion. Those in debt can pay off their debt, those who were responsible can save the money.

Then going forward, outlaw usury, which is charging interest on non-productive loans, like government debt, credit card debt, corporate debt to fund stock buy backs, and student loans. Of course this means governments will have to balance their budgets, people will have to quit buying on credit, CEOs will make less on their options, and student loans will disappear. All good things, but people won’t let it happen.

Stepan Bandera, the man imprisoned by Nazis and sent to a German concentration camp? That guy?

You never use a virus as a bio weapon. You can’t control it and they readily mutate. You use stuff like Anthrax, which is fragile and delivered by spores. This limits it SPREADING and contains it to the target area.

I think the most likely source of Wuhan virus was vaccine research in Wuhan.

The holohoax is kept around for a “don’t blame the victim” defense. As in, the atrocities perpetrated by jews in Ukraine, Hungary, Lithuania, Poland, Bavaria, and Spain.

Polish mobs beat jews in reprisal for the jewish cooperation in the deaths of hundreds of thousands of Poles, shipped off to Siberia.

Research the Jedwabne massacre. The “Jewish Militia” rounded up 22,000 Poles in Jedwabne, Poland during the Bolshevik occupation in 1940, who were “deported”, according to Wikipedia. Interesting, sending residents away to Siberia is call “deported”. No, 22,000 Poles were sent to death camps in Siberia.

When the Germans freed the area there were retribution killings of 320 Jews by the surviving locals.

Question, does the term “massacre” refer to the killing of 22,000 Poles in death camps, or the retribution killing of 320 Jews? Guess.

The Poles remember how the Jews acted towards them when the Bolsheviks took over. Let the Jews pay $300 Billion in retributions to the surviving families in Jedwabne.

This guy is an idiot. An apologist for Israel. Israel lost to Hezbollah in 2006. This is why Israel created ISIS and tried to take out Syria.

US exploiting China and Russia? What a joke. China bought US politicians as far back as Bill Clinton. As far as Russia, that would be (((Browder))).

Israel is the problem. And yes they have control over the US government, sadly.

One thing to consider. Russia is really liking the rise in oil prices. Might want to factor that in.

And it will also force other Arab states in the region to rethink their hosting of U.S. soldiers, sailors, Marines and airmen due to the law of unanticipated consequences as it is now clear that Washington has foolishly begun a war that serves no one’s interests.

So the Sunni’s are going to be ticked off Trump took on Iran?

Iran started this with the tanker and oil facility attack. Most likely Trump is working with Saudi on this.

To be honest, we need to leave the Mid East, but Trump couldn’t let those attacks go unanswered.

“You know why it is now the other way round: because Venezuela has been raped, plundered by your masters in the United States and Europe.”

You are a liar or completely ignorant. Chavez destroyed that country long before sanctions. And what he didn’t destroy he stole. Communism destroyed what should be one of the richest countries in the world.

As far a Maduro, he is just a low IQ bus driver who should go back to driving buses.

Israel lost to Hezbollah in 2006. Israel and the US create ISIS to overthrow Assad. Russia backs Assad. The US through (((Nuland))) and (((Soros))) start a revolution in Ukraine to gain leverage over Russia. Russia checkmates them by taking over Crimea. And that’s where we are at today. And its also why people are very nervous about investigations into Ukraine.

I doubt Eastern Rite Catholics in Syria and Lebanon would refer to themselves as “Orthodox”.

1. I oppose SWAT raids to arrest someone accused of “kicking”. Give me a break.
2. The people supporting Blumental: Did you also protest over the treatment of 70 yr. old Roger Stone?
3. There is no good side in Venezuela. Maduro and the Chavistas have destroyed the country. The opposition does not appear to be any better. It’s a thoroughly corrupt country.

“JFK’s “best and brightest,” whose hour of power was “Camelot,” were broken on the wheel of Vietnam. After taking us into Southeast Asia, they had washed their hands of their own war and declared it immoral.”

Uh, that’s not actually what happened. JFK gave aid and advisors to Diem. The South Vietnamese did the fighting and had won the war by 1963. JFK had already worked with Diem to create a timetable to withdraw the advisors starting in 1964 and ending in 1965.

And then Harriman whacked Diem and Vietnam was destabilized from then on. JFK was whacked only 3 weeks later.

This article sucks because it is all over the place. So which is it? The people live in slums, which is bad. Check. Efforts to grow industry is bad. Check. What do you want? For the government to call the magical socialist unicorn to sh!t skiddles for the people?

And do you know why there is a huge demand for palm oil? Bio Diesel to “combat global warming”.

As far as Cambodia and Vietnam, those were French IndoChina, which meant they had a heavy Western influence. Indonesia is moslem.

The betrayal of Mihailovic needs further study. The massive infiltration of (((commies))) into the U.S. State Department is well documented and also led to the loss of China.

Another vote that this article is 180 degrees wrong. Most likely this was an effort to get out in front of all the corruption of the US politicians, (((Soros)), (((Pinchuk))), and (((Kolomoyskyi))) in the Ukraine that Trump was going to expose. Guiliani investigated all of that, but Lee Stranahan was reporting on this at least 2 years ago.

But assuming that this was not a deep state effort to “project” to get out in front of the scandal, then I suspect Hillary first. If not her, Warren. If not them, then the DNC in general to get Biden out because he has lost it cognitively.

,

Trump and Putin are buds. Trump is trying to unf**k the mess left him by ZOG. So far he has held off invasions over (2) false flag chemical attacks and the drone shoot down, among others.

I’m hopeful if he gets reelected in 2020 we’ll see an alliance between the US and Russia.

First where I agree. Those gamma America haters screaming about how the Patriot system failed, etc… have no idea what they are talking about. As the Saker points out, even the S-400 would fail. And also as he points out the defense would be the Pantsir system, i.e. cannon fire.

Where I disagree is that the damage caused to the 4 heavy walled light naphtha tanks was done by “drones”. Those are precision hits done by a Harpoon type missile, likely the Russian or Chinese equivalent. Furthermore even if this was a “drone” strike, they were similar to cruise missiles (what’s the difference?) and not the cheap drone the ZOG terrorists are using against Russia.

One last thing, Russia and the US should be Christian allies. China and ZOG are the threat. Trump is working with Russia, have some hope.

Dems are in a bind on this one. I think the DNC orchestrated the leak to take out Biden who is clearly losing it. But Biden’s strength was his “so called” pro-labor appeal, and there’s no one to take up that mantle. “So Called” because Biden sold out labor on the TPP with China in exchange for $1.5 Billion to Hunter.

The replacement is the problem. Warren ain’t it. Watch the Fake News Media and see who they start promoting. Yes Warren can win the primary, but free medical to illegals means she’s toast.

Also keep an eye on Michelle Obama.

Yeah, because Trump completely let us down on SCOTUS. Wait….

Hatread of Jesus Christ and envy of his followers.

Not very incisive. If you want to defend against cruise missiles you have to have your air defense up and running, which means any aircraft in the area will be destroyed. That’s because you have less than a minute. Saudi Arabia is not going to do that in fear of shooting down passenger planes. Furthermore the missiles have to be launched and controlled from somewhere.

Point being, in a war with Iran their launch sites and air defenses would be taken out first. They have the same problems that the Saudi’s had: they can’t keep their air dense active unless they want to shoot down everything that flies.

The bigger point is the geopolitics. The second Vietnam War (after 1963) could have been won in a few weeks by carpet bombing North Vietnam, destroying their dams, and mining their harbors. Why didn’t we do that? Taking out Iran is not particularly difficult (lot’s of oil and gas infrastructure), but then you’d have a problem with Russia and China.

So yes drones and missiles do change things, but these missiles have been around for a long time (the naphtha tanks were taken out be missiles from the photos). The pin point accuracy with GPS is new, I’ll grant that.

Marxism was crafted by a man who wrote poetry to the devil. Google it.

Marxism is pure evil and killing commies is a good thing. Compare Chile, where the “gringos” killed commies to Venezuela.

The big problem in the third world is statism. And there is a constant rivalry between statists. On one side is the fascist dictator, and on the other side are the commie utopians who want to spill rivers of blood to create their utopia. That’s the choice and is why the third world will never improve.

I hate when normies try to talk about something they know nothing about. I don’t go to MD forums and discuss brain surgery procedures, so why do normies comment on the oil industry? Think about it.

The only factual part of this article was the requirement for S.A. to invest in US Treasuries in exchange for defense. The whole “petro dollar” story beyond this is B.S. FX markets are extremely liquid, so pricing oil in dollars is merely a convenience, that is all. You can exchange those dollars to yen in the blink of an eye. The requirement for the Saudis to invest in Treasuries was the key piece, and that was more of a deal done on defense.

As for the other points, guess what, because of the oil industry we no longer give a crap about the Mid East, except from a global economic view. The Mid East is the headache for China, India, Korea, and Japan. Our imports come from Canada. Why is this? Because the oil industry was allowed to drill baby drill. In the near future, we have ANWR and the elephant field off of Guyana coming online.

As far as global warming, the satellite data, now a 50 yr. record, shows 1.3 degrees per century, which is what it has been since the ice age. No global warming.

“But they are not alike. Johnson is a literate, witty product of Britain’s finest educational institutions, Eton and Oxford, who down-plays his erudition and upper class roots. Trump is just the opposite.”

Total B.S. Trump graduated from Wharton and he does not “play-up” upper class roots. He comes across as a Queens businessman.

What exactly does it mean that the UK will become an appendage to the U.S.? That the U.K. gets to stay out of the Euro army? That we’ll set up sweat shops in London and force Brits to work in them? WTF.

On trade, remember that goes both ways dumb @$$. If you ever lived in the real world, you’d know you have to start the negotiation from a position of strength. Boris is telling the EU “We’re leaving. Period.”. That’s the start. The EU has to decide what kind of trade deal it wants for selling German cars and French agriculture.

In the meantime, English fisherman can go back to fishing and selling their catch.

This article is crap.

LOL. Jewish woman pissed a good looking blond shiska takes out a jew boy. This is funny.

I’m not a fan of zio-Ivanka, May, and certainly not La Garde, but this hissy fit is funny. Out of the three La garde is probably the greatest evil, heavily in bed (figure of speech only) with the banksters. May destroyed England fatally. It is a decade or two away from joining the Caliphate. Ivanka is pretty bad, getting the US sucked into Israeli BS. La Garde is the worst however.

Someone mentioned it earlier, but I want to go into it further: the “global cities” are blood sucking ticks being fed by Central Banks. From economics we know that people who get the money first in an inflation benefit, while the late comers only see rising prices.

NYC is rich because the Fed was pumping cash to the banksters, who rehypothecated paper junk while taking their large skim. This free loot then filters down to other financial service companies and lawyers.

London and Paris? BoE and ECB doing the same thing.

So yeah, park yourself near the money spigot and you can do well. For people that actually produce value, you are screwed.

This guy has been to Ven. Yeah, many an American marriage was ruined when a man got assigned to a project in Ven.

Also, the author fails to mention the horrendous inflation under Maduro. The B went from 7/$ to 2000/$. Can’t blame embargoes and sanctions for that. Pensioners on fixed incomes got wiped out. The reason the author doesn’t mention this is because he knows absolutely nothing about Ven.

Another article from an author who knows nothing about Venezuela.

Yes, there is an elite, more European class that was running things. This was based on IQ. Chavez originally kicked out European companies and the elite Venezuelans. His oil production went to crap and never came back. He was forced to bring back the Euro/American service companies just to maintain production, but the “elite” hi IQ Vens never came back, because they had a high enough IQ to read the tea leaves.

Another point, the price of oil was around $8/bbl. right before Chavez. He ruled when oil was 10 times higher. However he blew all of the money on socialism and his oil fields got neglected. Venezuela sits on untouched elephant fields and insanely huge gas fields, but can’t develop them. Because the country is now run by idiots.

Last story, when Chavez nationalized the upgraders in Jose, he had a huge problem. The evil Europeans and Americans were paying THREE TIMES the wage rate over PdVsa. He cut their wages. When that happened the workers left. I know of one worker who went to the coast and got a job in a restaurant. The Euro tips made the job much more lucrative.

Steel mills.

On tariffs raising prices, keep in mind that Trump slashed the corporate income tax rate. So follow me here: lower prices from lower corporate tax, higher price due to tariffs means it’s a wash. Except now there is more of an advantage for US based production.

Free Trade is like a religion. Ask yourself, would you trade a 0% corporate tax for a 10% flat tariff? If your answer is no, you are drinking the Kool aide.

On China, I know it makes you feel sophisticated to bash Trump, however China is the biggest threat the U.S. has. In fact many people who are in favor of closer relations with Russia point to this threat. Russia has more to fear than the U.S. due to geography, so we have a natural alliance with them.

China also is guilty of ripping off our patents are industrial espionage on a huge level. Trump is correct to go after China. His big failing is his policy on Russia, likely due to Israel being pissed about Syria.

Let’s summarize:

1. The U.S. put in a strongman in 1965 and Indonesia, like Chile, is a shining example of what capitalism can do. 5% GROWTH dude. This was because the Left was wiped out.

2. The moslem fundamentalists are screwing it up, or at least making it a crappy place to live.

So, lessons learned:
1. Unleash capitalism in the U.S.
2. Keep Somalis out of our country.

An article analyzing Britian’s future and Brexit doesn’t once mention moslems.

Inside the EU England will be flooded by third world savages that mutilate women and form rape gangs. Outside the EU, you can shut this down. The biggest problem for England is the moslem invasion. Full stop. The fact that this article doesn’t even notice the problem is all you need to know. Swill.

This is a pathetic article. Note the following:

1. Turncoat Andrew DOES NOT quote the question asked of Barr, but quote’s Barr’s reply.

2. The 4 page summary Barr issued WAS REQUIRED BY LAW.

Didn’t finish the article, but what I read didn’t mention the glaring problem of Fed pumping and Trade Deficits resulting in a huge current account surplus in China. When long bond yields crashed, the Chinese started buying other things, like Real Estate. To ignore the China influence in California and Vancouver is crazy.

Symptoms. The cause was the Fed pumping in Trillions. You get lax lending standards when the Fed has so destroyed the yield curve banks can’t make any return.

The next shoe to drop will be pensions, again a problem exasperated by the Fed (Dem politicians, e.g. Detroit, are the cause.)

Millennials get thrown under the bus by cultural marxist (and economic marxists) public schools and universities. They were taught that your feelings are the most important thing, hence their nickname: snowflakes.

It’s not a problem. Here’s why: The debts are owed to government banks. A government can do what the U.S. can’t do. The government can forgive debts, at least those that are owed to itself, without creating a political backlash. If a viable corporation has run up too much debt, the government can forgive it. This is better than letting the debt close down a factory or force it be sold to a predatory asset management firm as occurs in the United States.

Lost me there. WHY is the factory in so much debt? Usually because the managers are idiots. You are removing the discipline of the markets.

Also, no mention of Central Banking pumping TRILLIONS as a reason for high home prices (asset bubbles)? No, the reason is because …… banks lobby to keep property taxes low.

I couldn’t finish the article.

“Stabbing in the back” etc… did not reference the press conference. Something else went down. The BIG question is WHY doesn’t Justin cut a deal with the US? The trade deficit with Canada is tiny, so cutting a deal would be easy for both sides. We did one with South Korea in a few weeks, and have a much bigger deficit with them.

So what is going on with Canada? Is Justin virtue signaling by standing with Mexico over NAFTA? Is he trying to kiss-up to the EU? Canada’s actions don’t make any sense.

The jury is not out on “21st Century Socialism”. It’s called the Calculation Problem, and there is no way to solve it.

I agree with most of your article, but this is wrong. For the record, globalist capitalism and fascism (government/corporate alliance) are not the answer. A regulated Capitalism is very successful. We also have to look at fiat fractional reserve banking, but this comment would grow to book length.

As far as accusing Capitalism of causing spiritual problems, that’s allowing the churches off the hook.