Oil market caught in biggest shock since 1970s
Posted By: Dreadnought, 3/10/2022 8:51:04 PM
London - U.S. petroleum inventories are depleting to critically low levels as output fails to keep pace with the rapid rebound in consumption after the pandemic, putting intense upward pressure on oil prices. Petroleum inventories were depleting at an unsustainable rate even before Russia’s invasion of Ukraine and the disruption of Russia’s petroleum exports in response. U.S. inventories of crude oil and refined products outside the strategic petroleum reserve have fallen in 63 out of the last 88 weeks according to data from the Energy Information Administration (EIA). Commercial stocks have depleted by a total of 315 million barrels since the middle of 2020, more than offsetting the 204 million barrels accumulated
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New York City’s private employer vaccine mandate and the school mask mandate imposed on children five-and-under will remain in place indefinitely, the city’s new health commissioner announced Friday.
“I think it’s indefinite at this point,” Dr. Ashwin Vasan said at COVID-19 press briefing. “People who have tried to predict what will happen in this future for this pandemic have repeatedly found egg on their face, as they say. And I’m not going to do that here today.”
“I would love for me to sit here and say, I can give you a date or a data point for when we would lift those things,”
The Biden administration knows it has a looming “mass migration event” in the very near future when it ends the use of Title 42 at the southern border. The Department of Homeland Security (DHS) quietly set up the Southwest Border Coordination Center (SBCC) to coordinate its response. Think of it as a war room to game out the coming flood of illegal migrants to the southern border.
I say that SBCC was quietly created because before the reporting today by Axios, the war room wasn’t reported on in the media. The reason for the nervous preparation for a mass event is because with the pandemic essentially ending,
University of Pennsylvania swimmer Lia Thomas made history Thursday as the first openly transgender person to win a Division I national championship.
Thomas, a senior on the women's swim team, finished the 500-yard freestyle at the front of the pack in 4 minutes, 33.24 seconds at the McAuley Aquatic Center in Atlanta. "It means the world to be here," Thomas said in an interview after the win. Thomas competed against University of Virginia freshman Emma Weyant, University of Texas freshman Erica Sullivan, and Stanford University senior Brooke Forde. Thomas ended up finishing 1.75 seconds ahead of second-place Weyant.
Earlier this month a group of student protesters shut down a scheduled speech at UC Hastings College of Law in San Francisco by Ilya Shapiro. After about 30 minutes of rude interruptions, Shapiro gave up and the even was canceled. The school sent out a notice reminding students that shouting down speakers violated the school’s code of conduct but no one was ever punished for those violations. Last week there was a similar attempt to use the heckler’s veto during a panel at Yale Law School on the topic of free speech.
The March 10 panel, which was hosted by the Yale Federalist Society,
Food prices are already skyrocketing. Some — a lot — of this comes from inflation caused by runaway government spending over the past two years. Some is from supply-chain issues. But a new problem is rearing its head, and government officials seem as likely to make it worse as to make it better.
That problem is shortages of food and fertilizer brought about by the Russian invasion of Ukraine and the sanctions enacted by the West in response. Ukraine is a major wheat producer, but war is likely to ensure a poor spring planting and harvest. Russia is also a major grower, but sanctions and war will prevent it from exporting to most
We’ve known since 2020 that the Hunter Biden laptop was real. But liberal media did all they could to downplay the reality of it, even when you had video of Hunter on the laptop engaged in all kinds of disreputable things, because it was October 2020, just before the election and they wanted Joe Biden to win. You even had Twitter doing all they could to bury the story and block the URL of the NY Post story being spread on the platform. They variously tried to claim they were doing it because it was “hacked” material (it wasn’t) and/or that it was “Russian disinformation.”
Sorry, ABC: Politico/Morning Consult poll
shows majority support for Florida sex-ed limits 11 replies
shows majority support for Florida sex-ed limits 11 replies
And it’s not even close, despite Politico’s carefully crafted lead:
American voters are sharply divided over two contentious bills Florida’s state Legislature recently passed that deal with the teaching of race and gender identity, according to a new POLITICO/Morning Consult poll of registered voters.
“Sharply divided,” in this case, means majority support for the supposed “Don’t Say Gay” bill that Ron DeSantis has endorsed. That’s no narrow window either, but instead a 51/35 support level for restricting discussions of sexual orientation and gender identity below the fourth-grade level. An even slightly higher percentage, 52/37, support limiting such discussions at and above that level to “age-appropriate discussions.”
That isn’t just a GOP phenomenon either:
The Federal Reserve announced on Wednesday that it will raise interests rates by a quarter of a percentage point, hiking rates for the first time since December 2018 in an effort to curb rising inflation.
Following their March meeting, Fed officials said in a statement that the Federal Open Market Committee would raise the benchmark federal funds rate in order to cool an overheated economy, bringing the rate to between .25 and .5 percent.
“With appropriate firming in the stance of monetary policy, the committee expects inflation to return to its 2 percent objective and the labor market to remain strong,” the Fed said in its March statement, adding that
Tokyo — A massive 7.3-magnitude earthquake struck near Namie, Japan, triggering a one-meter-high tsunami advisory in the region 11 years after it was devastated by a deadly quake.
The earthquake was reported just before 11 a.m. ET on Wednesday, which is around midnight Thursday in Japan. The Japan Meteorological Agency said the quake struck about 36 miles below the sea. Namie is a small town in the Fukushima prefecture. Police said there were no reports of injuries or damage from the initial quake, according to local news station NHK Fukushima.
Two aftershocks in Japan left seven people injured including six from falling objects, the station reported.
UK Defense Ministry: Russia's offense
has stalled as it struggles to replace
personnel losses 7 replies
has stalled as it struggles to replace
personnel losses 7 replies
If you read Allahpundit’s post earlier then you know there’s some speculation that the clock is ticking on the Russian invasion. Retired Lt. Gen. Ben Hodges estimates Russia can only sustain its current levels of deployment for about 10 more days before its troops and ammunition are depleted to the point they can’t really mount an effective fight. Hodges also pointed to the possibility of a Russian default as soon as tomorrow which would also create serious domestic problems that might keep Putin occupied.
Lt. Gen. Hodges was quick to say his view of the current situation was based not on any inside information or intelligence
Prices paid to U.S. producers rose strongly in February on higher costs of goods, underscoring inflationary pressures that set the stage for a Federal Reserve rate hike this week.
The producer price index for final demand increased 10% from February of last year and 0.8% from the prior month, Labor Department data showed Tuesday. That followed an upwardly revised 1.2% monthly gain in JanuaryThe median forecasts in a Bloomberg survey of economists called for a 10% year-over-year increase and a 0.9% monthly advance.
Two-year Treasury yields extended declines and U.S. stock futures rose after the data showed producer prices rose less than expected
White House Press Secretary Jen Psaki repeatedly shut down questions about President Joe Biden potentially cutting a deal to import oil from socialist Venezuela on Monday after rumors of such a move, fueled by a U.S. delegation to Caracas, prompted international outrage.
Psaki temporarily ruled out importing Venezuelan oil shortly after polling released in the past week showed a dramatic collapse in support to the Democrats from Hispanic Americans that began during the 2020 election, fueled by concerns that socialists friendly with, among others, the Venezuelan regime had become too powerful within the Party.
Most Active Articles (last 48 hours)
A nervous Fauci cites Benghazi probe to
say GOP likely to come after him if they
retake Congress 44 replies
say GOP likely to come after him if they
retake Congress 44 replies
Dr. Anthony Fauci is getting a little nervous.
The White House chief medical advisor, whose handling of the COVID-19 pandemic has drawn either abject endorsement or stinging rebuke depending on whom you ask, expects to face some tough questions come next year. In an interview with The Washington Post, a mouthpiece not known for its hostility to the good doctor, Fauci speculated that he’d likely be in the hot seat if Republicans take Congress in the upcoming midterm elections.“It’s Benghazi hearings all over again,” Fauci told the Post, an odd comment for a supposedly apolitical and neutral medical advisor and chief of the National Institute of Allergy and Infectious Diseases
Tulsi Gabbard ‘censored’: Google,
YouTube deem Fox News interview ‘inappropriate
or offensive’ 34 replies
YouTube deem Fox News interview ‘inappropriate
or offensive’ 34 replies
Google and YouTube have declared former Rep. Tulsi Gabbard to be inappropriate viewing.Ms. Gabbard posted a three-minute clip on Twitter on Wednesday evening, most of which was of an appearance by her on Fox News Channel’s “The Ingraham Angle.” (Tweet/Video) But she labeled the clip “this is what Google/YouTube doesn’t want you to say,” based on the first several seconds.The video shows someone logging in via Google and, before the Gabbard-Ingraham interview begins, the viewer is warned that “the following content has been identified by the YouTube community as inappropriate or offensive to some audiences.”
Barack Obama's daughters Sasha and Malia have cemented their status as true Los Angeles celebrities by ticking off another A-lister rite of passage: a grueling hike in the Hollywood heat. The former First Daughters - who both relocated to the West Coast earlier this year - were pictured working up a sweat while enjoying a scenic up-hill walk, just days after they were spotted dining out at an exclusive LA eatery with their mother Michelle. Sasha, 20, and Malia, 23, both put on a sporty display for their fitness-focused outing, with the younger Obama sibling donning a tiny pair of black workout shorts, which she paired with a black T-shirt
Woke Yale law students have been filmed threatening speakers and staff for attending a free speech event which saw a humanist speaker invited to debate a high-profile conservative on First Amendment rights. Police were forced to escort guest speakers from Yale Law School's free speech debate after more than 100 students intimated a conservative panelist and caused a riot in the auditorium by yelling and blocking exits out of the hall.The chaos broke out last week at the start of a panel featuring progressive Monica Miller from the American Humanist Association and conservative Christian Kristen Waggoner of the Alliance Defending Freedom (ADF) nonprofit.
University of Pennsylvania swimmer Lia Thomas made history Thursday as the first openly transgender person to win a Division I national championship.
Thomas, a senior on the women's swim team, finished the 500-yard freestyle at the front of the pack in 4 minutes, 33.24 seconds at the McAuley Aquatic Center in Atlanta. "It means the world to be here," Thomas said in an interview after the win. Thomas competed against University of Virginia freshman Emma Weyant, University of Texas freshman Erica Sullivan, and Stanford University senior Brooke Forde. Thomas ended up finishing 1.75 seconds ahead of second-place Weyant.
RINO Ben Crenshaw labeled Americans who don’t want to send their children to war with Russia in Ukraine, Putin apologists. When he did this on FOX News he was called out.
Ben Crenshaw was on FOX and Friends on Thursday. He told the audience how disturbing it was to him that anyone would oppose not going to war against Russia. When Rachel Campos-Duffy said most Americans question US involvement in such a war he lost it.
President Joe Biden called Vladimir Putin a 'murderous dictator and pure thug' in his St Patrick's Day speech on Thursday that started with the quip: 'I may be Irish but I am not stupid'. Biden ramped up his attacks on the Russian leader, a day after finally calling him a war criminal, in remarks that started with him going through his Irish heritage at the annual Friends of Ireland Luncheon. 'Father before I began, bless me, father I'm about to sin,' Biden cracked, making the sign of the cross as he addressed Rev. Thomas O'Connor while standing between Irish and American flags inside the wood paneled Rayburn Room
World War Two hero Audie Murphy, former Secretary of State Colin Powell and ex-President Dwight Eisenhower are set to have their names used on US military bases whose titles honor Confederate figures. Murphy, a former US Army soldier, became the most-decorated serviceman of World War Two. Powell was the first black person to serve as Secretary of State, between 2001 and 2005, and died last year. Eisenhower was a hero World War Two commander who later served as president between 1953 and 1961.
Jussie Smollett is back on the streets again
26 replies
Just five days after going to jail to begin his 150-day sentence, Jussie Smollett is a free man again. Considering what’s been happening in D.C. to people who, at most, trespassed, the whole Jussie saga has been disgusting and this is one more chapter to irritate or even enrage those who believe in the rule of law. However, much as I hate to say this, the appellate court that released him while his appeal is pending probably made the correct legal decision. (snip) Smollett’s attorneys had argued that he would have completed the jail sentence by the time the appeal process was completed
Start Walking: International Energy Agency
Calls for Urgent Restrictions on Domestic
Oil Supplies 23 replies
Calls for Urgent Restrictions on Domestic
Oil Supplies 23 replies
Give up your car and start walking. That’s an order. The International Energy Agency (IEA) on Friday directed global governments to urgently cut oil supply to domestic consumers and encourage compliance with its call for lowered consumption.
The IEA 10-point plan to drive “changes in the behaviour of consumers” and reduce gas demand at the pump includes reducing speed limits, working from home three days a week, more electric cars, car-free Sundays, more cycle lanes, cheaper public transport and greater use of long-distance trains over planes.
The IEA also called on the OPEC+ group of oil-producing nations led by Saudi Arabia
Food prices are already skyrocketing. Some — a lot — of this comes from inflation caused by runaway government spending over the past two years. Some is from supply-chain issues. But a new problem is rearing its head, and government officials seem as likely to make it worse as to make it better.
That problem is shortages of food and fertilizer brought about by the Russian invasion of Ukraine and the sanctions enacted by the West in response. Ukraine is a major wheat producer, but war is likely to ensure a poor spring planting and harvest. Russia is also a major grower, but sanctions and war will prevent it from exporting to most
Liberals in Congress are pressing President Joe Biden to invoke emergency powers to push ahead with Democrats' climate change agenda and to put new restrictions on fossil fuels, even while gasoline remains at its highest per-gallon price on record.
With legislation stalled in Congress, the nearly 100-member Congressional Progressive Caucus released a slate of policy recommendations Thursday for Biden to pursue, calling on him to use executive action to deal with a list of topics his "Build Back Better" agenda sought to address, including the development of more green energy technologies and placement of restrictions on new fossil fuel production.