Russia Deploys Exotic New Weapon: A “Budget Surplus”

By John Rubino – Re-Blogged From Dollar Collapse

The price of oil is rising, which is obviously good news for those who sell it to the rest of us. Russia in particular seems to be enjoying the current trend, so much so that — if I’m understanding this correctly – Moscow is now receiving more in taxes than it’s spending. This is producing something called a “budget surplus,” which is a kind of currency war weapon that can be deployed to improve a country’s geopolitical position. Here’s a quick overview:

Russia To See Oil Revenues Jump Fivefold

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Soaring Fuel Costs, Falling Crop Prices Punish Global Farmers

By Thomson Reuters – Re-Blogged From Newsmax

Farmers worldwide are feeling the pinch as fuel costs rise to near four-year highs just as they plant and harvest their fields, eroding agricultural income already hamstrung by depressed crop prices.

The agricultural sector from the United States to Russia, and Brazil to Europe, is seeing profits harmed by the rise in diesel prices. The global oil benchmark, Brent crude, touched $80 a barrel for the first time since late 2014 on Thursday.

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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 #315

By Ken Haapala, President
Brought to You by www.SEPP.org The Science and Environmental Policy Project

Where’s the Water Vapor? Tim Ball was a student of H.H. Lamb, who pioneered the modern study of climate change before it was taken over by those promoting dangerous global warming caused by carbon dioxide (CO2). Ball has worked with the wealth of meteorological data compiled by the naturalists employed by Hudson Bay Company. These data cover much of inland Canada as well as the Hudson Bay, roughly from the early 1700s to the late 1800s. They demonstrate that climate change is not unusual. These data are ignored by the UN Intergovernmental Panel on Climate Change (IPCC) and its followers such as the US Global Change Research Program (USGCRP).

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Fund Managers Predict the Decline of Oil, But We’ve Heard This Before

By Steve Goreham – Re-Blogged From Washington Examiner

The sun begins to rise behind a pump jack and oil storage tanks near Williston, N.D.
The sun begins to rise behind a pump jack and oil storage tanks near Williston, N.D.
(AP Photo/Eric Gay)

The 1970s All Over Again?

BY John Rubino – Re-Blogged From http://www.Gold-Eagle.com

For most Americans the geopolitical/financial crises of the 1970s happened so long ago that they’re about as relevant as the Revolutionary War or the Reformation.

But for seasoned citizens who were around back then and paying attention, the similarities to today are becoming both eerie and scary. Consider:

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China is the Big Wild Card in Trump’s Iran Decision

Trump announces withdrawal from Iran deal.

President Donald Trump put Iran back in the penalty box on Tuesday — but the impact on the oil market could be determined by how China responds.

China, a voracious consumer of oil, holds great sway because it’s Iran’s biggest customer. Almost one-third of Iranian oil shipments this year have gone to China, according to energy research firm Genscape.

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