Does everybody feel better about the price of eggs yet?Jeff Currie from Goldman Sachs is probably the best person I know regarding commodities.
— QE Infinity (@StealthQE4) March 14, 2026
His take on oil prices: pic.twitter.com/OyQFUbo6Xc
(I posted that, and then listened to it carefully. (Now you know how I work.) The 400 million barrels to be released from reserves can only be released at the rate of 2 million bbl a day. Again, my back of the envelope context is the Permian Basin, expecting to produce 6 million barrels per day.
So, yeah, the price of oil is not going down soon. That 400 million is going to trickle into the market, not flood.
Add to that the shutdown fields which will have to be repressurized to be productive. It ain’t just a matter of opening a valve. The recovery from this, when it starts, will be long term, not immediate.
The country that wanted this war was Israel. And Israel doesn’t give a wet snap about the rest of the world, which is now bearing the cost of this excellent adventure. Well, cost in treasure. Despite American deaths, Iran is still paying the highest cost in blood. Which, I guess, pleases Bibi. Israel, after all, has “a right to exist.” Fuck the rest of the world. Right?)
I don't know about anyone else but I didn't think about what this is going to do to the "AI" bubble that has been fueling the markets up till now.
ReplyDeleteYou know those energy hog, water hog places that are throwing People out of work already and destroying the environment.
What will $100+++ prices for oil do to that bubble?
America's greatest conman led around on a leash by Netanyahu and Putin. Kinda odd how the reality of "America First", whether it was Charles Lindbergh's or Donald Trump's, is to stooge for countries that have almost nothing to offer America in return.
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