Krasnov Fucked Up

[gab13by13]

Krasnov's one big economic policy is to devalue the dollar and strengthen crypto. Krasnov has made 3 billion dollars from crypto so far in his 2nd reign.

The bombing of Iran has jettisoned the price of oil and it has strengthened the dollar. Krasnov is actually pleading to keep oil prices low, pleading to drill baby drill, pleading with OPEC to release more oil.

The rising cost of diesel fuel means the rising cost of goods, means higher inflation, means that Jerome Powell will not lower interest rates which would, you guessed it, weaken the dollar.

Krasnov's economic plan is solely about strengthening crypto.

[ananda]

1. How long before we're drilling on all the public lands they're selling?

hmm???

[progressoid]

7. There is no reason to drill

https://theweek.com/business/economy/big-oil-drill-trump-production-output-energy-fracking-gas

[ananda]

8. I don't think that matters to Trump.

His mind is too fried, and his interests are simple.

Take control of all the land, and let his cronies get richer.

[IbogaProject]

22. The current oil boom started w Obama

The GOP are too chaotic wheras we pursue an "all sources" energy policy. The markets respond to gradual shifts in incentives. Carter had us on track to need zero fuel imports by 2000 using 1970s tech. But our messaging hasn't reflected our policy strengths.

[progressoid]

27. Yep. There was endless bullshit right wing propaganda about the US losing energy indepence under Biden

When in fact the opposite was true.

[Wounded Bear]

17. Sadly, there is more coal in those areas than oil...

Why do you think he was trying to boost coal production as well?

[pwb]

2. He is busy choosing prime building spots

in Israel. People may want hybrid or electric cars even more now. Yeah he fucked up.

[marble falls]

3. Kraznov does not want cheap oil, and if he did, the US petrolum companies do not want cheap oil ....

When oil is cheap, they buy foreign oil, when it's expensive they sell US oil. The BIG money is in refinement, not production. a good thing if you own the largest reserves, and produce more oil than anybody else by a huge margin and refineries out the ying yang.

Prices go up with "instability" and speculators who concentrate on "crisis" futures investment.

https://www.forbes.com/sites/rrapier/2024/07/05/us-oil-production-extends-massive-lead-over-russia-and-saudi-arabia/

U.S. Oil Production Extends Massive Lead Over Russia And Saudi Arabia

ByRobert Rapier,

Senior Contributor.
Robert Rapier is a chemical engineer covering the energy sector.
Jul 05, 2024, 04:03pm EDTJul 06, 2024, 01:44pm EDT


https://www.eia.gov/todayinenergy/detail.php?id=61545

In-brief analysis
March 11, 2024
United States produces more crude oil than any country, ever

https://www.eia.gov/todayinenergy/images/2024.03.11/main.svg

The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of 12.3 million b/d, set in 2019. Average monthly U.S. crude oil production established a monthly record high in December 2023 at more than 13.3 million b/d.

The crude oil production record in the United States in 2023 is unlikely to be broken in any other country in the near term because no other country has reached production capacity of 13.0 million b/d. Saudi Arabia’s state-owned Saudi Aramco recently scrapped plans to increase production capacity to 13.0 million b/d by 2027.

Together, the United States, Russia, and Saudi Arabia accounted for 40% (32.8 million b/d) of global oil production in 2023. These three countries have produced more oil than any others since 1971 (counting production in the Russian Federation of the Soviet Union prior to 1991), although the top spot has shifted among them over the past five decades. By comparison, the next three largest producing countries—Canada, Iraq, and China—combined produced 13.1 million b/d in 2023, only slightly more than what was produced in the United States alone.


https://www.eia.gov/todayinenergy/images/2024.03.11/chart2.svg

[gab13by13]

14. Krasnov does want cheap oil,

cheap oil weakens the dollar and strengthens crypto. Costly oil strengthens the dollar.

Krasnov wants whatever benefits himself and cheap oil benefits him. Jerome Powell lowering interest rates would benefit him. His tariffs benefit him.

Weak dollar = strong crypto.

[marble falls]

24. No. He wants to be seen as wanting cheap energy because that is what he and his noncritically thinking supporters want .

Do you remember the rumor that went around the US until the eighties that there was a 400 mpg carburetor that the oil companies bought the patent and buried it. Sounds plausible until one thinks critically. If there were carburetors that that improved miles per gallon by 10 times, Big Oil would try to give one to everybody and raise the price per gallon by a factor of 11.

The oil companies are not known for giving the public any breaks at all, ever. If prices are high they pump oil, if prices are low they buy someone else's oil and bump prices up. The barrel price in Texas determines if the grasshoppers are working or at rest. They only work after a certain price per barrel goes over a certain bench mark price, it's been $40/barrel and been as high as $80/barrel.

Why in the world would the richest industry cut prices lower than they can gouge?

[misanthrope]

28. Refinement is the bottleneck they utilize

They set the price from that point.

[rsdsharp]

4. In other news: Water Is Wet.

[orangecrush]

5. Money launderingrus

[IronLionZion]

6. Then he'll intentionally cause a recession to lower demand for oil and goods

Cut all social programs including SS and Medicare, forcing down wages.

[Nigrum Cattus]

9. Yes, and crypto is the biggest ripoff ever

It's all just a bunch of really big prime numbers.
Zero real value
You give me real money and I give you a worthless number !

[txwhitedove]

20. Agree. I'm horrified this administration is anywhere near the Treasury with his crypto crap. Book

I am reading now is Wise Gals by Nathalia Holt, about the women working intelligence in OSS during WW2, which then morphed into CIA. Many historical references and issues have lept off the page:

Nazis were printing mass quantities of counterfeit money. "the Nazis were hoping to induce havoc. Their plan: flooding American and English markets with convincing-looking fake dollars and pounds, thereby plunging the economies of both Allied nations into chaos and tanking their currencies."

Crypto

[Wednesdays]

26. In the 1980's I watched "Private Schulz" on PBS

It was a miniseries that depicted just what you're talking about, where the Nazis were promising full pardons to convicted counterfeiters in exchange for their help with "Project Bernhard," the scheme to flood Britain with forged currency in order to damage their economy. I couldn't watch it through to its conclusion, but I remember the scene where the counterfeiters were pointing out how difficult the task would be, because of the rarity of the ink and paper used in producing British paper currency.

[haryn]

10. When...

..has he EVER NOT fucked up? The difference now is that the consequences don't just send him into bankruptcies, and law suits, but threaten the entire country/world as we know them.

[BumRushDaShow]

11. As noted upthread

If the oil price is "too low" it will basically put the U.S. frackers out of business due to their new well "breakeven" costs.



(from here - https://www.hartenergy.com/exclusives/us-shale-basins-boast-54bbl-average-breakeven-price-204563)

[FakeNoose]

13. Yes this has been their plan all along

They have to keep the price of oil high enough to cover the costs of fracking. Even back in the 1970's and 80s when the OPEC nations seemed to be calling the shots. They were playing the long-game just as the US oil companies wanted them to. OPEC increased the price of oil & gasoline to American consumers and they became the "bad guys" for doing so. So the oil companies had always held off on fracking until the price of oil was high enough to support the investments.

The longest game of all is to use up the Mideast oil supplies until they run out altogether. THEN who's in the catbird seat? Why the American oil companies, who will charge any price they want. Henry Kissinger helped put this plan together over 50 years ago.

[gab13by13]

15. You are looking at this for what benefits the fossil fuel industry.

I am looking at this for what benefits Krasnov.

Krasnov could care less if frackers went bankrupt.

[Hornedfrog2000]

18. Wrong

He does have to keep other billionaire, oligarchs happy, to an extent. He may try to play them like Elon, but I am guessing he sold Elon on something so that is why he is behaving for now.

[BumRushDaShow]

16. Well we have been hearing about "peak oil" for a long time

and that seemed to have faded away as they keep uncovering more and more.

I think the sooner we move away from it, the better!

[IbogaProject]

23. We are crossing the peak

A recent analysis forecasts we may be hitting peak oil production in either 2024 or 2025. Production may plateu for a few years but demand is shifting away rapidly. So having oil to sell will slowly become less valuable. Unfortunately there will be numerous armed conflicts to stifle the suppies worldwide as demand slowly declines. Energy effeciency, solar, batteries, next-gen nuclear plus slowing growth will all put pressure on fossil energy firms.

[BumRushDaShow]

25. I ran into an article the past week

that mentioned French Guiana (in reference to the oil boom and maneuvering with Guyana) - Have Oil Majors Given Up On French Guiana?

This was related to the finds in the area, currently being exploited by Guyana - A tiny rainforest country is growing into a petrostate. A US oil company could reap the biggest rewards

Of course putting all that out there will depress the prices and with any decrease in demand, it won't be worth pulling and thus it all won't be "used up" any time soon.

[Blue Full Moon]

12. Absolutely

[liberalla]

19. I also think he'll be sorry he chose to side with Bibi instead of putin... in regards to Iran.

Putin did NOT want Iran bombed. He's possibly the one who gave Iran advance notice...

Krasnov Is forgetting his biggest obligation!

[oasis]

21. Crypto, gypto, klepto.

[Evolve Dammit]

29. He wants to replace the dollar with crypto. Pretty obvious but not (as usual) well thought out. n/t

[Bev54]

30. That is why he is declaring there is a cease fire

He doesn’t want oil prices to go up.