Did the Iran War Force Peak Oil?
Something weird is happening in China.
President Donald Trump said one reason that the U.S. will “run” Venezuela and “indefinitely” control its oil sales is because "years ago" Venezuela "took our oil away from us" and "stole our assets." That’s an oversimplification of what happened when Venezuela assumed greater control of its energy sector.
Something weird is happening in China.
"You can debate whether that’s going to hit those really low levels in two weeks or three weeks. Once you get to that point, then you’ll see price shoot up.”
Strategic petroleum reserves are declining rapidly as countries release emergency crude supplies to cushion the economic impact of the Middle East conflict.
The White House declared last week that President Trump finally "broke OPEC" after the United Arab Emirates withdrew from the cartel.