USA: 50 years since the beginning of the oil embargo

[DrBeer]

Just the Facts:

Bloomberg: oil prices fall for the third week in a row
World oil prices are falling for the third week in a row, despite the record demand for fuel, the reduction of supplies by Saudi Arabia and fears of rising prices due to the conflict between Israel and "Hamas". Bloomberg draws attention to this. Saudi Arabia's Energy Minister Prince Abdul Aziz bin Salman blamed speculators for the price drop.

The price of benchmark Brent crude fell to a three-month low of $80 a barrel today, but the price has fallen about 5% in a week. The average WTA price is in the neighborhood of $76. Prices rose yesterday, November 9, following a statement from Saudi Arabia's energy minister that was similar to his criticism of speculators in May, weeks before the kingdom cut oil production.

The price of Brent crude has fallen about 13% in the past three weeks amid rising demand from China, the U.S. and Europe. Hedge fund manager Pierre Andurand points out that oil inventories were higher than expected due to production in the US and Iran.

http://www.bloomberg.com/news/articles/2023-11-10/latest-oil-market-news-and-analysis-for-nov-10

[arimamib]

https://www.bbc.com/russian/international/2013/10/131016_us_oil_embargo_anno
"October 17, 2023 marks 50 years since the start of the 1973 Arab oil embargo. On the eve of this anniversary, it was announced that the United States is about to become the main producer of oil and gas on the planet, leaving behind the current champions - Russia and Saudi Arabia.

The embargo was declared on October 17, 1973 in response to US President Richard Nixon's order for Operation Nickel Grass, which supplied US weapons to Israel. The latter was at that moment repelling attacks from Egypt and Syria, who intended to return the territories captured by the Israelis during the Six-Day War of 1967."

I think everyone has long forgotten about this story, but after it the United States began to accumulate oil reserves.
The situation in the world is very difficult now, but do you consider repeating such a scenario in 50 years?

We already saw it happen again just a few years ago. When it appears that OPEC was abusing it's stranglehold on the price of oil, America ramped up it's work on fracking and they were forced to bring prices back down again to compete - or even push the fracking industry back out of business. There is a very fine line where they are able to use their vast reserves, up until they make it so uncomfortable that countries start looking to other methods or even extracting it in more difficult ways. The world has come a long way since those days however, with the Middle East holding more power in the equation and having other places that it's possible to sell their oil, like China, but it'll always be at a cheaper price for the foreseeable future.

well yeah.. the global energy landscape has been significant transformations in recent years, and the dynamics between OPEC and the fracking industry have evolved. OPEC's influence on oil prices has degraded somewhat due to the rise of fracking in the United States and other countries. As you mentioned, the surge in fracking production in the US forced OPEC to adjust its strategy and bring down oil prices to remain competitive. This suggests that OPEC's control over the prices is not absolute and can be challenged by technological advancements and alternative energy sources.

The Middle East still holds substantial power in the global oil market, with major oil reserves and big influence over production levels. China's growing energy demand has opened up new markets for OPEC oil, but it also means that OPEC have to compete with other regions for Chinese contracts. This competition can keep the prices lower than they might otherwise be.

[serveria.com]

Just the Facts:

Bloomberg: oil prices fall for the third week in a row
World oil prices are falling for the third week in a row, despite the record demand for fuel, the reduction of supplies by Saudi Arabia and fears of rising prices due to the conflict between Israel and "Hamas". Bloomberg draws attention to this. Saudi Arabia's Energy Minister Prince Abdul Aziz bin Salman blamed speculators for the price drop.

The price of benchmark Brent crude fell to a three-month low of $80 a barrel today, but the price has fallen about 5% in a week. The average WTA price is in the neighborhood of $76. Prices rose yesterday, November 9, following a statement from Saudi Arabia's energy minister that was similar to his criticism of speculators in May, weeks before the kingdom cut oil production.

The price of Brent crude has fallen about 13% in the past three weeks amid rising demand from China, the U.S. and Europe. Hedge fund manager Pierre Andurand points out that oil inventories were higher than expected due to production in the US and Iran.

http://www.bloomberg.com/news/articles/2023-11-10/latest-oil-market-news-and-analysis-for-nov-10

What's the point in posting this over and over again? Fuel prices tend to fluctuate most of the time. They're going down now, in a few days they're going back up. I'm more concerned about retail prices at gas stations which are not falling but in some countries (Germany) they're doing just the opposite. In other words, common folks are feeling the pain while in fact sponsoring your country. 

[DVlog]

Nations have no friends.
Some said once, I guess Winston Churchill was that. And its true. 

No nation has friends only interests. _{_Charles de Gaulle}

This term is true in global politics. Nations don't have any internal allies or friends. Their agreement and cooperation are only based on their interests. No nation will give another nation something without any interest no matter how close a relationship they have. The sole purpose of a nation is to seek help or provide aid in any emergency because they also expect the same when they face similar scenarios.

PS The basis is the Israeli-Emirati peace treaty, also the Abrahamic Treaty, - a treaty on normalization of relations between the State of Israel and the United Arab Emirates, signed on September 15, 2020. The UAE chooses development and the rules of the civilized world.

Yeah the development comes from supporting a country that is responsible for the deaths of thousands of children. What Israel is doing has been ignored by the West. Occupying west bank and murdering children is also a terrorism act. Hamas is not the only one doing the terrorism acts in this region.

[DrBeer]

.....
Yeah the development comes from supporting a country that is responsible for the deaths of thousands of children. What Israel is doing has been ignored by the West. Occupying west bank and murdering children is also a terrorism act. Hamas is not the only one doing the terrorism acts in this region.

You probably meant to say GROUPING. That's right - only the Hamas terrorist group and its "puppeteers," who live in luxury, far from what they "ordered," are to blame for the massacre and its aftermath. And the Palestinians have become hostages of the terrorists' morbid fantasies, their living proof, and material for the cruelest productions.

By the way, why do you gloss over the fact that Palestine was occupied for many years by Egypt and Jordan, and only Israel freed the Palestinians from the oppression of these invaders. And at the same time it gave Gazans jobs, full rights, the opportunity to live and build a future. And "brotherly" countries - categorically reject rescue and granting asylum on their territories to Palestinians? I would be glad to hear explanations !

Well and most importantly - in the economic topic, maybe we should not push propaganda, and still talk about the topic ?

What's the point in posting this over and over again? Fuel prices tend to fluctuate most of the time. They're going down now, in a few days they're going back up. I'm more concerned about retail prices at gas stations which are not falling but in some countries (Germany) they're doing just the opposite. In other words, common folks are feeling the pain while in fact sponsoring your country. 

That's because I love reality and truth. And some people try to manipulate data and information by pushing fairy tales about "you will all freeze and cease to exist without our oil and gas"

I will also add about gas, which is supposedly wildly expensive in the EU, which refused gas from Russia, enjoy the graph, from the real world :



The bottom line is that there will be no new global embargo and wild price rises. No matter how much anyone would like to ! Many countries in the region realized that they were being dragged into someone else's game to solve someone else's problems (rogue countries) and turned away from their support.

[DVlog]

.....
Yeah the development comes from supporting a country that is responsible for the deaths of thousands of children. What Israel is doing has been ignored by the West. Occupying west bank and murdering children is also a terrorism act. Hamas is not the only one doing the terrorism acts in this region.

You probably meant to say GROUPING. That's right - only the Hamas terrorist group and its "puppeteers," who live in luxury, far from what they "ordered," are to blame for the massacre and its aftermath. And the Palestinians have become hostages of the terrorists' morbid fantasies, their living proof, and material for the cruelest productions.

By the way, why do you gloss over the fact that Palestine was occupied for many years by Egypt and Jordan, and only Israel freed the Palestinians from the oppression of these invaders. And at the same time it gave Gazans jobs, full rights, the opportunity to live and build a future. And "brotherly" countries - categorically reject rescue and granting asylum on their territories to Palestinians? I would be glad to hear explanations !

Well and most importantly - in the economic topic, maybe we should not push propaganda, and still talk about the topic ?

No country wants to have permanent refugees, and why do the Palestinians need to live their lives in another country when they have been living in that land for generations? Why is Israel building its infrastructure in the West Bank by occupying Palestinian land? Israel freed the Palestinians from the oppression of Egypt and Jordan by becoming oppressors themselves! I admit what hamas is doing is not right but how do you explain the deaths of thousands of children and the bombing to civilians? Hamas actions can not justify their deaths. Israel has to take full responsibility for their action and the West needs to act like they do against russian operations in Ukraine.

[Juse14]

What's the point in posting this over and over again? Fuel prices tend to fluctuate most of the time. They're going down now, in a few days they're going back up. I'm more concerned about retail prices at gas stations which are not falling but in some countries (Germany) they're doing just the opposite. In other words, common folks are feeling the pain while in fact sponsoring your country. 

This is a strategy, this is a step and this is an effort made by countries in the Middle East to suppress the power of western countries, so that they do not behave as they please. And indeed, related to the oil embargo and soaring oil prices, this will trigger long-term turmoil in the global oil market and will only cause suffering for society.

And what happened fifty years ago is very different from what is happening today, where the economy and trade continue to change, but oil remains the most dominant energy in the world. And every year regarding the demand and use of petroleum, from year to year it continues to increase.

[DrBeer]

.....
Yeah the development comes from supporting a country that is responsible for the deaths of thousands of children. What Israel is doing has been ignored by the West. Occupying west bank and murdering children is also a terrorism act. Hamas is not the only one doing the terrorism acts in this region.

You probably meant to say GROUPING. That's right - only the Hamas terrorist group and its "puppeteers," who live in luxury, far from what they "ordered," are to blame for the massacre and its aftermath. And the Palestinians have become hostages of the terrorists' morbid fantasies, their living proof, and material for the cruelest productions.

By the way, why do you gloss over the fact that Palestine was occupied for many years by Egypt and Jordan, and only Israel freed the Palestinians from the oppression of these invaders. And at the same time it gave Gazans jobs, full rights, the opportunity to live and build a future. And "brotherly" countries - categorically reject rescue and granting asylum on their territories to Palestinians? I would be glad to hear explanations !

Well and most importantly - in the economic topic, maybe we should not push propaganda, and still talk about the topic ?

No country wants to have permanent refugees, and why do the Palestinians need to live their lives in another country when they have been living in that land for generations? Why is Israel building its infrastructure in the West Bank by occupying Palestinian land? Israel freed the Palestinians from the oppression of Egypt and Jordan by becoming oppressors themselves! I admit what hamas is doing is not right but how do you explain the deaths of thousands of children and the bombing to civilians? Hamas actions can not justify their deaths. Israel has to take full responsibility for their action and the West needs to act like they do against russian operations in Ukraine.

Huge numbers of Palestinians have been taken in by "foreigners" in Europe!  And fellow believers categorically refuse to accept them. The EU supports the Palestinians, pays allowances, and provides assistance. In response, however, they get mass riots. Probably you are right - it is time for Palestinians to go to their homeland and live there !

You have not answered the question - why do you have no claims to Jordan and Egypt, from the occupation of which the Palestinians were saved by Israel?

PS watch less Hamas propaganda, with fakes and dramatizations. And if you ask a question about civilian casualties, ask yourself a question - and who set them up, does not let them leave the war zone, cover themselves with them, fire from residential neighborhoods .... And please don't forget about Israeli casualties, because your opinion looks so one-sided.

Well, back to the topic of this section!
It is significant that more and more countries in the Middle East are blaming Hamas and their supporters for this massacre, soberly and objectively assessing what is happening!

This is good news because... attempts by Hamas and their masterminds to cause a collapse in the oil market are now clearly failing

[DVlog]

.....
Yeah the development comes from supporting a country that is responsible for the deaths of thousands of children. What Israel is doing has been ignored by the West. Occupying west bank and murdering children is also a terrorism act. Hamas is not the only one doing the terrorism acts in this region.

You probably meant to say GROUPING. That's right - only the Hamas terrorist group and its "puppeteers," who live in luxury, far from what they "ordered," are to blame for the massacre and its aftermath. And the Palestinians have become hostages of the terrorists' morbid fantasies, their living proof, and material for the cruelest productions.

By the way, why do you gloss over the fact that Palestine was occupied for many years by Egypt and Jordan, and only Israel freed the Palestinians from the oppression of these invaders. And at the same time it gave Gazans jobs, full rights, the opportunity to live and build a future. And "brotherly" countries - categorically reject rescue and granting asylum on their territories to Palestinians? I would be glad to hear explanations !

Well and most importantly - in the economic topic, maybe we should not push propaganda, and still talk about the topic ?

No country wants to have permanent refugees, and why do the Palestinians need to live their lives in another country when they have been living in that land for generations? Why is Israel building its infrastructure in the West Bank by occupying Palestinian land? Israel freed the Palestinians from the oppression of Egypt and Jordan by becoming oppressors themselves! I admit what hamas is doing is not right but how do you explain the deaths of thousands of children and the bombing to civilians? Hamas actions can not justify their deaths. Israel has to take full responsibility for their action and the West needs to act like they do against russian operations in Ukraine.

Huge numbers of Palestinians have been taken in by "foreigners" in Europe!  And fellow believers categorically refuse to accept them. The EU supports the Palestinians, pays allowances, and provides assistance. In response, however, they get mass riots. Probably you are right - it is time for Palestinians to go to their homeland and live there !

You have not answered the question - why do you have no claims to Jordan and Egypt, from the occupation of which the Palestinians were saved by Israel?

PS watch less Hamas propaganda, with fakes and dramatizations. And if you ask a question about civilian casualties, ask yourself a question - and who set them up, does not let them leave the war zone, cover themselves with them, fire from residential neighborhoods .... And please don't forget about Israeli casualties, because your opinion looks so one-sided.

Well, back to the topic of this section!
It is significant that more and more countries in the Middle East are blaming Hamas and their supporters for this massacre, soberly and objectively assessing what is happening!

This is good news because... attempts by Hamas and their masterminds to cause a collapse in the oil market are now clearly failing

Palestinian refugees live in neighboring Arab countries more than they do in EUROPE. They are the ones who have created this mess by relocating European Jews to Palestinian lands. Now it's time to take them back.

Egypt and Jordan weren't at least bombing Palestinians from the sky or trapping them with fences. You didn't answer my question about how you want to justify Israel's murder of children? I am not supporting hamas but killing innocent people, especially women and children by giving the excuse of doing an operation against hamas won't justify Israel's operation.

From now on, we need to call oppressors liberators exactly like Russia wants us to think of them. Hamas is the only one spreading propaganda who lives in a tiny area and Israel is spreading god words who have the full support of western government and media! What an - irony.

[DrBeer]

.....
Yeah the development comes from supporting a country that is responsible for the deaths of thousands of children. What Israel is doing has been ignored by the West. Occupying west bank and murdering children is also a terrorism act. Hamas is not the only one doing the terrorism acts in this region.

You probably meant to say GROUPING. That's right - only the Hamas terrorist group and its "puppeteers," who live in luxury, far from what they "ordered," are to blame for the massacre and its aftermath. And the Palestinians have become hostages of the terrorists' morbid fantasies, their living proof, and material for the cruelest productions.

By the way, why do you gloss over the fact that Palestine was occupied for many years by Egypt and Jordan, and only Israel freed the Palestinians from the oppression of these invaders. And at the same time it gave Gazans jobs, full rights, the opportunity to live and build a future. And "brotherly" countries - categorically reject rescue and granting asylum on their territories to Palestinians? I would be glad to hear explanations !

Well and most importantly - in the economic topic, maybe we should not push propaganda, and still talk about the topic ?

No country wants to have permanent refugees, and why do the Palestinians need to live their lives in another country when they have been living in that land for generations? Why is Israel building its infrastructure in the West Bank by occupying Palestinian land? Israel freed the Palestinians from the oppression of Egypt and Jordan by becoming oppressors themselves! I admit what hamas is doing is not right but how do you explain the deaths of thousands of children and the bombing to civilians? Hamas actions can not justify their deaths. Israel has to take full responsibility for their action and the West needs to act like they do against russian operations in Ukraine.

Huge numbers of Palestinians have been taken in by "foreigners" in Europe!  And fellow believers categorically refuse to accept them. The EU supports the Palestinians, pays allowances, and provides assistance. In response, however, they get mass riots. Probably you are right - it is time for Palestinians to go to their homeland and live there !

You have not answered the question - why do you have no claims to Jordan and Egypt, from the occupation of which the Palestinians were saved by Israel?

PS watch less Hamas propaganda, with fakes and dramatizations. And if you ask a question about civilian casualties, ask yourself a question - and who set them up, does not let them leave the war zone, cover themselves with them, fire from residential neighborhoods .... And please don't forget about Israeli casualties, because your opinion looks so one-sided.

Well, back to the topic of this section!
It is significant that more and more countries in the Middle East are blaming Hamas and their supporters for this massacre, soberly and objectively assessing what is happening!

This is good news because... attempts by Hamas and their masterminds to cause a collapse in the oil market are now clearly failing

Palestinian refugees live in neighboring Arab countries more than they do in EUROPE. They are the ones who have created this mess by relocating European Jews to Palestinian lands. Now it's time to take them back.

Egypt and Jordan weren't at least bombing Palestinians from the sky or trapping them with fences. You didn't answer my question about how you want to justify Israel's murder of children? I am not supporting hamas but killing innocent people, especially women and children by giving the excuse of doing an operation against hamas won't justify Israel's operation.

From now on, we need to call oppressors liberators exactly like Russia wants us to think of them. Hamas is the only one spreading propaganda who lives in a tiny area and Israel is spreading god words who have the full support of western government and media! What an - irony.

"Palestinians make up the bulk of the population in the territory controlled by the Palestinian National Authority (PNA) (3.761 million people) and in Jordan (2.1 million people[19]). In addition, they live in Israel (Israeli Arabs - 1.54 million people) and the rest of the states of the Middle East region - Syria (44 thousand people), Lebanon (405 thousand people) and others. According to the Palestinian Bureau of Statistics, the number of Palestinians in 2021 is 13.8 million, of which 6.2 million live in Arab countries."

Sounds close to your theory, but as always there are nuances - the Palestinians living in Arab countries are those Palestinians who got there when ? That's a question I'll leave to you and we'll soon find out the real picture

Promoting the propaganda narrative of "massacre of Palestinian children" will not solve the problem that Hamas caused by using the local population as human shields. And the Hamas top brass openly says that they don't care about the Palestinians, and that they are just a crowd for Hamas, which they use to realize their terrorist acts, without hiding their words. So let's discard the narratives and bloody propaganda of Hamas.

About Egypt ... So Israel BEFORE the Hamas TERRORISTS attacked, helped the Palestinians, gave them jobs, the benefits of civilization, essentially supported them. Or do you have a selective memory, and you don't remember anything about October 7, you only remember when the counter-terrorist operation began ? Such an approach... does not "help" the people of Palestine...

You would do better to think about the millions of Palestinians who are being manipulated by the EU into calling for riots - it is not out of the question that they may eventually be deported from the countries containing them. By the way, the question is why do Palestinians, en masse (at least 50%) go to Christian Europe, where there are foreigners, different faith, unacceptable laws and rules, and not, for example, to Iran? Or Kuwait, or Jordan ? Answer honestly, at least to yourself....


And most importantly - in a thread about 50 years of oil embargoes, is it really worth promoting Hamas propaganda narratives ? There are other threads.

I will return to the topic of a possible repeat of the embargo. If you watch the market and the statements of market participants - many openly or not openly support the pro-Israeli position, and blame the real culprits for what is happening - Hamas terrorists. Even Iran, which lives by the idea of destroying Israel, has turned its back on them, because Hamas' actions are considered so despicable by regional countries. So there will be no repeat embargo because of this bloody spectacle.  But it would be very interesting to know who is behind the scenario !