Texas Oil Surge Threatens OPEC

By Bloomberg – Re-Blogged From Newsmax

The map lays out OPEC’s nightmare in graphic form.

An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30 a barrel.

OPEC’s bad dream only deepens next year, when Permian producers expect to iron out distribution snags that will add three pipelines and as much as 2 million barrels of oil a day.

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Markets Unprepared For $80 Oil Shock

By James Puplava – Re-Blogged From http://www.Silver-Phoenix500.com

The summer driving season is just around the corner and this year motorists are facing steeper prices for fuel, up from an average of $2.19 a gallon in 2016 to $2.87 today. By this summer, analysts are projecting gas prices to top $3 a gallon on average for the first time in 10 years.

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Weekly Climate and Energy News Roundup #272

By Ken Haapala, President, The Science and Environmental Policy Project

Brought to You by www.SEPP.org

Destroying the Planet? President Trump did the unthinkable for many – he announced that the US will withdraw from the Paris Agreement (Accords). The reaction of the horrified was predictable. How dare he? A bit of history is useful in explaining the reaction.

During World War I, Germany, France, the U.K. the U.S., and others effectively used propaganda on their citizens to build sprit (morale) and reinforce the need for the War, including demeaning their opponents. (The U.S. had the U.S. Committee on Public Information under Walter Lippmann.) The effectiveness of the propaganda can be seen by the failure of many responsible and reasonable Germans to accept the fact that the German military had collapsed. Instead, these Germans became susceptible to claims that they had been betrayed, “sold-out.” Hitler used this “betrayal” effectively against the Jews.

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OPEC ‘No Longer in Control’ of Oil Prices

By Matt Egan – Re-Blogged From http://money.cnn.com

For decades, OPEC’s sway on oil prices was unparalleled.

But the cartel’s immense influence has been dealt a huge blow by the dramatic boom in US shale.

“Saudi Arabia and OPEC are no longer in control,” Douglas Rachlin, managing director at Neuberger Berman’s Rachlin Group, said on Wednesday at the SALT Conference in Las Vegas.

The emergence of US shale as a key global player that can pump even during low oil prices means OPEC can no longer “manipulate prices,” Rachlin said. “The shale revolution has changed a lot of things.”

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End FED Manipulation of Interest Rates

cropped-bob-shapiro.jpg   By Bob Shapiro

When interest rates are kept low artificially, as has been the FED’s policy for at least the last 10 years, some benefit while others are hurt. Many times, those who are hurt don’t even know it is happening to them.

An insurance company, for example, collects premium money from policy holders, and then it invests that money. The actuaries working for the company are charged with figuring out the odds of a claim so that the premium can be set to very closely offset the money paid out in claims (plus the overhead).

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