'Oil Surging Toward Maybe $150 A Barrel' As US, Canada Talk War With Russia

G.L.R. · Thu 24 Feb 2022

Oil prices are surging toward $100 a barrel. Here's what that means for you

February 23, 2022

Oil prices are swinging dramatically, with recent peaks pushing close to a major milestone: $100 a barrel. The possibility of Russia invading Ukraine is the driving force, but more is at play than the risk of war. And complicating predictions further, the possibility of a deal with Iran is hovering in the background. Brent crude prices surged to as high as $99.50 early on Tuesday, after Russia said it was sending troops to eastern Ukraine... U.S. and European countries are drawing up sanctions. Russia is one of the world's largest producers of oil and natural gas, accounting for 17% of the world's natural gas and 12% of its oil. And a sizable portion of Russia's natural gas exports, in particular, are carried to Europe through pipelines that pass through Ukraine. That means the outbreak of war could shut down much of Europe's supply of natural gas. In response to Russian President Vladimir Putin's recognition of separatist-held areas in Ukraine, the Biden administration has already issued sanctions against those regions, as well as against two Russian financial institutions. Russia could also throttle energy exports in retaliation for sanctions. Any of these outcomes would take supply off the market, while also fueling greater uncertainty, which also tends to elevate prices. Some Wall Street analysts are even eyeing the possibility of oil hitting as high as $150.

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Trudeau will try to scare the Russians

A fundamental mismatch between supply and demand was driving prices up well before the Ukraine-Russia tensions escalated...crude prices, the commonly used global benchmark, averaged less than $42 a barrel. In 2021, they averaged just under $71. Prices have spent most of February trading in the low $90s... Surging oil prices benefit oil producers... Gasoline prices in the U.S. are averaging more than $3.50 a gallon, the highest average since 2014. If crude prices should rise higher, gasoline prices would almost certainly climb more. The biggest burden would fall on lower-income families, since they spend a larger percentage of their household budget on gasoline. "I want to limit the pain that the American people are feeling at the pump," Biden said in a speech on Tuesday. "This is critical." Meanwhile, rising natural gas prices could raise electricity and home heating bills.

Biden might try to solve the oil crisis with just a signature

The increasing costs for transportation, power and heat would all contribute to inflation, which is already at its highest rate in 40 years in the U.S.... but a reduction in Russian exports would hit Europe much harder than the U.S., given European reliance on Russian natural gas. Because the pipeline is not yet functioning, this doesn't reduce Russian exports directly, but it suggests that at least some European leaders are willing to absorb potentially intense price increases for diplomatic reasons. The U.S. and other countries have been discussing alternative sources of natural gas and oil to compensate for a Russian shortfall, but it's not clear how much could be made available to Europe, given the tight global market.

There's no stopping the stupidity of the Biden Regime

World leaders have been calling for an urgent shift away from fossil fuels to reduce the devastating impacts of climate change. But that push comes at the same moment that they're desperate for more production of fossil fuels in the near term, to bring prices down and avoid public outrage. However, high prices provide a payday for oil companies and incentivize more oil production... A new nuclear deal with Iran. The U.S. exited the 2015 Iran nuclear deal during the Trump administration and hit Iran with punishing sanctions that — among other things — sharply limited how much oil it can export. Negotiations are underway to revive the 2015 deal. If successful, a lot of Iranian oil would be heading to global markets. Those Iranian barrels would logically bring prices down.

Oil prices are surging toward $100 a barrel. Here's what that means for you – Houston Public Media
https://www.houstonpublicmedia.org/articles/news/energy-environment/2022/02/23/419660/oil-prices-are-surging-toward-100-a-barrel-heres-what-that-means-for-you

Br.IanVonTurpie · Thu 24 Feb 2022

A B/S brother's war! Putin doesn't need to do this and worst of all get China's help!
Russia wants strategic ports in Ukraine, rumoured aincient technology in the Sevastopol pyramids. Europe's oil pipe line from the Middle East cuts across Ukraine, Europe doesn't want that cut off.

Perhaps the US can get all the muds and migrant caravan trash and put them in a boat from Alaska right now over the straights to Russia! Be a good time to do that I think! They couldn't be any madder with the West right now!

Rev.Cambeul · Thu 24 Feb 2022

Putin already gave the offer: Don't make the Ukraine part of NATO, and there's no problem.

NATO experts and Generals want nothing to do with the Ukraine. The Biden regime and its multiCULTi warhawks, however, are fixated on expanding NATO in order to provoke Russia as an escape from domestic issues. It's the way America has gone to war since their war with Spain.

And as for Australia and Britain ... just mindless automotons ready to follow America into wars of profit, because that's what their big business plutocracy dictates to the elected but mindless oligarchy.

The Cost of Oil would be a lot less for Americans and Australians if oil prices were not linked to the Arab states. MSM and politicians are already blaming Putin - but it's got f. all to do with the Russians, and is instead their own bloody globalist fault. Yeah, I know, it's just propaganda so the average person will curse the Russians for the cost of their fuel each day.

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And the Latest MSM War News

"War in Ukraine begins as Putin launches full-scale invasion: Missiles rain down on Kharkiv and tanks roll across border from Belarus as 'hundreds' of Ukrainians die, martial law is declared and five Russian jets are shot down"
https://www.dailymail.co.uk/news/article-10545389/BREAKING-NEWS-Explosions-heard-Ukraine-port-city-Mariupol.html

"Putin Announces 'Special Military Operation' 'De-Militarization and De-Nazification' of Country"
https://www.breitbart.com/national-security/2022/02/23/putin-special-military-operation-demilitarization-denazification-ukraine

"Thousands of people are fleeing Ukraine's capital Kyiv as explosions rock multiple cities, with Ukraine's president declaring martial law in response to Russian attacks."
https://www.news.com.au/technology/innovation/military/russia-ukraine-news-invasion-coming-at-any-hour-now-us-source-claims/news-story/a99d8387326902d544b1ad0e92275d0f[/left]

Br.IanVonTurpie · Thu 24 Feb 2022

What Putin is claiming is that if Ukraine joins NATO there will not be a Russia ?! He feels the West will encroach on Russia ? I don't think so. I just think they want to join the EU and NATO for security. Putin wants to "grab the goodies" while he can.
Ukraine is a sovereign state he shows no regard for, just thinks he can back a few pro Russian rebels and take places and then pop up and say he recognises these places as parts of Russia now?!

Rev.Cambeul · Thu 24 Feb 2022

The Ukraine is a pieceofshit nation that wouldn't join NATO, it would just accept NATO missiles and forces on its territory. ... But thinking about what you said, I guess you're right though. How dare that War-Mongering Mr Putin put his country in the middle of our missile sites.

@GLR Insert the required picture.

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'Oil Surging Toward Maybe $150 A Barrel' As US, Canada Talk War With Russia

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