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  • Rank:TAE Member
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  • From:USA
  • Register:12/17/2008 2:58 PM

Date Posted:06/09/2018 7:06 AMCopy HTML

Trump dumped a lot of his strategic reserves when oil was going for next to nothing. Now, oil prices are skyrocketing. How would it look to the world to see him in the same boat he drove the rest of us into as for oil investment? He would show the greatest lost from any US president in the USA's history. If you must, beg away to the Saudi's.

The rest of the world watched in amazement as Trump dumped the USA's strategic reserves for next to nothing. At the time, he appeared to want to show how much more income he could pump into the US economy compared to previous presidents. He went further with import taxes and other penalties. NAFTA out the window. Trade for other countries out the window. Now, reality sets in.  He would lose a lot of US tax payers' money to replace the strategic reserves at these oil prices. Should oil leap to $120 per barrel, he'd be up to his behind in questions from his opposition. The world would see him as a person that stepped on everyone only to lose money.

It's likely why he's calling out his closest allies as a threat to national security. He wants them to give him oil for next to nothing.

Most of the world watched in awe and liked him as president. But, the psychology of an losing investor can make that investor do crazy things. What will someone with his ego do next? The world is watching. 


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Hayekian Share to: Facebook Twitter MSN linkedin google yahoo #1
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  • From:USA
  • Register:12/05/2008 3:35 AM

Re:Trump and oil

Date Posted:06/10/2018 3:25 AMCopy HTML

I just reviewed the recent inventory of the Strategic Petroleum Reserve - The reduction in the reserved during 2017 was 30 million barrels, from 695 million to 665 million - less than 5%.  The amount in the SPR is still near 250 days of net imports - compared to 50 days as it was from 1998 (Clinton administration) through April, 2007 (Bush administration).  Check out https://www.eia.gov/dnav/pet/PET_SUM_CRDSND_K_M.htm 
Comment: Part of the present problem in Washington is the lack of compromise. Response: It's always better for the bully when the bullied does not resist, isn't it?
Aprildaze Share to: Facebook Twitter MSN linkedin google yahoo #2
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  • From:USA
  • Register:02/27/2015 11:01 PM

Re:Trump and oil

Date Posted:06/11/2018 10:12 PMCopy HTML

Geologist's risky bet pays off in big Alaska oil find

Armstrong Oil & Gas CEO Bill Armstrong on the company's big oil discovery in Alaska.

Sometimes risky bets pay off in a big way. The theory was tested by one small Denver-based petroleum producer, and proved to be true.

Bill Armstrong, the CEO Opens a New Window. of Armstrong Oil & Gas, told FOX Business Opens a New Window. he risked a big chunk of his own money on a hunch that he spotted a large pool of oil in Alaska.

“The North Slope of Alaska has been kind of left behind, everybody believed that all the big fields had been found,” he told Stuart Varney on “Varney & Co Opens a New Window. .” on Friday.  “And so my band of brothers and I kind of tore everything apart … and we went up there and said I think they left something behind that may be really, really big.”

If you permit yourself to become too open-minded, your brains could fall out.
WRS10 Share to: Facebook Twitter MSN linkedin google yahoo #3
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  • Register:12/04/2008 10:50 PM

Re:Trump and oil

Date Posted:06/14/2018 8:18 PMCopy HTML

The US is about to be the world's biggest oil exporter

Tim Daiss, OilPrice.com  May 6, 2018,

As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.

The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added..........>

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