4,133
 

Jun 27 - Oil prices wreak economic havoc worldwide



ADVERTISEMENT
 
topics gone triple plat - Number 1 spot 3X PLAT


most viewed right now
  90
28 replies  @gear


section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook

section news
  
 2 months ago '06        #1
1917 page views
97 comments


RAZAH CUTS  topics gone triple plat - Number 1 spot x84
avatar
Props total: 71365 71 K  Slaps total: 10021 10 K
Jun 27 - Oil prices wreak economic havoc worldwide
 

 
image

A graphic designer in San Francisco is cutting back on dining out. A motorcycle taxi driver in Vietnam turns off his ride-hailing app rather than burn fuel during rush hour. A retiree in Germany says he is ready to give up his car. Around the world, consumers are feeling the sting from soaring gas prices, said Daniel Niemann in The a*sociated Press. For the first time, the average cost for a gallon of gasoline in the U.S. was over $5 last week, and it's worse in much of the world: a gallon would cost you more than $10 in Hong Kong, $7.50 in Germany, and $8 in France. Gasoline has been "a key driver of inflation," and it's already changing spending habits. Much of the blame has been pinned on Russia's invasion of Ukraine, which "jolted energy markets that were already facing tight supplies."

The global oil industry also completely underestimated "the speed with which demand" would rebound after the pandemic, said Irina Slav at OilPrice, "and how resilient this demand would be." Russia's invasion of Ukraine was certainly a massive "wild card" for the oil markets, but "even the known cards have refused to play into the a*sumptions by analysts." OPEC, the 13-nation oil cartel, has missed its own quotas, while "pent-up post-COVID demand" has been stubbornly resistant to high prices, creating "a perfect oil storm." Oil traders are waging heavily on gas prices remaining elevated into next year, said Javier Blas in Bloomberg. "The refining sector represents another problem," because "the world has effectively run out of space to turn crude into usable fuels." A global pivot away from fossil fuels has left owners wary of restarting operations or making costly upgrades. The shortage of refiners means that consumers are paying even more "to fill their tanks than oil prices suggest."

Meanwhile, oil money keeps flowing into Russia's coffers at a blistering pace, said Bryan Pietsch and Ellen Francis in The Washington Post. Moves by Western powers to ban Russian oil imports were supposed to be crippling. Instead, while "the volume of Russia's fuel exports fell 15 percent in May compared with the period before the invasion," sky-high oil prices mean "Russia may be making more revenue." The Center for Research on Energy and Clean Air recently found that Russia made $97 billion from fossil-fuel exports in the first 100 days of the war, and its export prices "were on average 60 percent higher than last year."

No president can do much to control oil prices, but President Biden "has to try," said Clifford Krauss in The New York Times. He will meet Crown Prince Mohammed bin Salman in Saudi Arabia in July, a trip that's painfully reminiscent of Jimmy Carter's flight "to Tehran in 1977 to exchange toasts with the shah of Iran." The White House has "also been in talks with Venezuela and Iran." Any deal with either country is "politically perilous." But it's the rock or the hard place for Biden, knowing voters are just as likely to "turn against presidents who seem unwilling or unable to bring" gas prices down.


visit this link https://theweek.com/econo .. avoc-worldwide
+2   



best
worst
97 comments
 

 2 months ago '17        #2
Skrr 
Props total: 7610 7 K  Slaps total: 1320 1 K
You were warned in the 80s when the Arab's squeezed our nuts and sent Americans panicking to the pump.

You did nothing and doubled down on large SUVs and trucks

Now it's expensive again and there's the same complaints as 40 years ago

In 30 years there will probably be another squeeze and the same large car owners will be crying yet again
+25   

 2 months ago '18        #3
DUCEDUCE  topics gone triple plat - Number 1 spot x2
Props total: 86348 86 K  Slaps total: 8819 8 K
But isn’t this Bidens fault only Trump could save us…..
+1   

 2 months ago '04        #4
d.c. supreme  topics gone triple plat - Number 1 spot x1
Props total: 33803 33 K  Slaps total: 1585 1 K
the dumb a*ses in the current state department blinken and co. insulted the saudis by bringing up khashoggi and they refused to take biden's call a month or so back. obviously what they did was fu*ked up but this is big boy politics you can't deal with gangsters and cartels like that when you actually need them. i think the admin got too c*cky thinking the build back better would get through and we'd all magically transition within a year () to electric and not need the saudis anymore. galaxy brain sh*t, complete fu*k up by the admin there. feel like MBS is going to clown biden further from here to make a point because he has the leverage, u.s. is going to have to up their ante weapons wise or something to even get close to making them budge on more production.

venezuela and iran are ready to deal but the venezuelan industry is completely decrepit it'd have to be re-started and re-funded. that isn't happening any time soon that sh*t takes years. iran they have more leverage because of the nuclear deal but that won't be but a drop in the ocean of supply needs the u.s. and other nations are facing they don't have enough production capacity to make any significant dent in the problem.

just a colossal fu*k up all around by the global leadership yet again, just like how they handled covid in the first place. dog sh*t leadership all around. putin stupidly getting bogged down in ukraine and xi is running china into the ground too all these guys have completely missed the forest from the trees.

another thing that is crushing other countries right now too is the rise of the $ dollar. it's at $104 right now. it hasn't been this high since 2002. which means every other country that has to deal in dollars for global trade or acquiring oil etc. are getting obliterated right now. there's going to be bad famine, riots, political upheaval, coups and all that sh*t in the near future. the world is down bad.
+16   

Top 10 most slapped recently  2 months ago '22        #5
Booda Sack  topics gone triple plat - Number 1 spot x2
Props total: 7185 7 K  Slaps total: 4079 4 K
 DUCEDUCE said
But isn’t this Bidens fault only Trump could save us…..
Well when you sanction Russia one of the largest oil suppliers, you cut relations with Saudi another main oil producer, you sanction Venezuela a top oil producer, you stop leases on new drilling domestically, and you tell the markets the goal is to end the oil industry and then the investments stop, yea global oil prices will raise. The US buys oil based on global market price and US politics highly dictate oil price as the US dollar is tied to oil.


Last edited by Booda Sack; 06-27-2022 at 01:42 PM..
+12   

Top 10 most slapped recently  2 months ago '22        #6
Booda Sack  topics gone triple plat - Number 1 spot x2
Props total: 7185 7 K  Slaps total: 4079 4 K
 d.c. supreme said
the dumb a*ses in the current state department blinken and co. insulted the saudis by bringing up khashoggi and they refused to take biden's call a month or so back. obviously what they did was fu*ked up but this is big boy politics you can't deal with gangsters and cartels like that when you actually need them. i think the admin got too c*cky thinking the build back better would get through and we'd all magically transition within a year () to electric and not need the saudis anymore. galaxy brain sh*t, complete fu*k up by the admin there. feel like MBS is going to clown biden further from here to make a point because he has the leverage, u.s. is going to have to up their ante weapons wise or something to even get close to making them budge on more production.

venezuela and iran are ready to deal but the venezuelan industry is completely decrepit it'd have to be re-started and re-funded. that isn't happening any time soon that sh*t takes years. iran they have more leverage because of the nuclear deal but that won't be but a drop in the ocean of supply needs the u.s. and other nations are facing they don't have enough production capacity to make any significant dent in the problem.

just a colossal fu*k up all around by the global leadership yet again, just like how they handled covid in the first place. dog sh*t leadership all around. putin stupidly getting bogged down in ukraine and xi is running china into the ground too all these guys have completely missed the forest from the trees.

another thing that is crushing other countries right now too is the rise of the $ dollar. it's at $104 right now. it hasn't been this high since 2002. which means every other country that has to deal in dollars for global trade or acquiring oil etc. are getting obliterated right now. there's going to be bad famine, riots, political upheaval, coups and all that sh*t in the near future. the world is down bad.
We pointed out the same time why oil prices are high and it's Biden retarded a*s policies fault, yet they keep saying "The president doesn't set the price it's high all over the globe."

 2 months ago '18        #7
DUCEDUCE  topics gone triple plat - Number 1 spot x2
Props total: 86348 86 K  Slaps total: 8819 8 K
 Booda Sack said
Well when you sanction Russia one of the largest oil suppliers, you cut relations with Saudi another main oil producer, you sanction Venezuela a top oil producer, you stop leases on new drilling domestically, and you tell the markets the goal is to end the oil industry and then the investments stop, yea global oil prices will raise. The US buy oil based on global market price and US politics highly dictate oil price as the US dollar is tied to oil.
Right sanctioning Russia was out of the blue, and Venezuela was sanctioned by Biden, and yes Biden stopped drilling ..
-8   

 2 months ago '05        #8
youngvito18 
Props total: 31153 31 K  Slaps total: 5484 5 K
 Skrr said
You were warned in the 80s when the Arab's squeezed our nuts and sent Americans panicking to the pump.

You did nothing and doubled down on large SUVs and trucks

Now it's expensive again and there's the same complaints as 40 years ago

In 30 years there will probably be another squeeze and the same large car owners will be crying yet again
This is the only thing i dont get

Everytime war happens gas prices go crazy

Why arent we pushing to get the fuk out of oil
+1   

 2 months ago '13        #9
wallace45 
Props total: 11936 11 K  Slaps total: 1701 1 K
Meanwhile in Russia...











These idiots running this country really think the sanctions are hurting Russia

Sad thing is they probably can't stop the sanctions now or they'll look even dumber... I guess they really didn't see this coming


Last edited by wallace45; 06-27-2022 at 01:20 PM..
+11   

 2 months ago '15        #10
Fantastic 
Props total: 16250 16 K  Slaps total: 6096 6 K
 d.c. supreme said
the dumb a*ses in the current state department blinken and co. insulted the saudis by bringing up khashoggi and they refused to take biden's call a month or so back. obviously what they did was fu*ked up but this is big boy politics you can't deal with gangsters and cartels like that when you actually need them. i think the admin got too c*cky thinking the build back better would get through and we'd all magically transition within a year () to electric and not need the saudis anymore. galaxy brain sh*t, complete fu*k up by the admin there. feel like MBS is going to clown biden further from here to make a point because he has the leverage, u.s. is going to have to up their ante weapons wise or something to even get close to making them budge on more production.

venezuela and iran are ready to deal but the venezuelan industry is completely decrepit it'd have to be re-started and re-funded. that isn't happening any time soon that sh*t takes years. iran they have more leverage because of the nuclear deal but that won't be but a drop in the ocean of supply needs the u.s. and other nations are facing they don't have enough production capacity to make any significant dent in the problem.

just a colossal fu*k up all around by the global leadership yet again, just like how they handled covid in the first place. dog sh*t leadership all around. putin stupidly getting bogged down in ukraine and xi is running china into the ground too all these guys have completely missed the forest from the trees.

another thing that is crushing other countries right now too is the rise of the $ dollar. it's at $104 right now. it hasn't been this high since 2002. which means every other country that has to deal in dollars for global trade or acquiring oil etc. are getting obliterated right now. there's going to be bad famine, riots, political upheaval, coups and all that sh*t in the near future. the world is down bad.
China is starting a yuan reserve with 5-6 other countries, the plan is to remove the us dollar as reserve currency, which pretty much every other country besides us wants. Years ago everything had to be paid in us currency but that tide is changing. Russia wouldnt even take dollars from finland i think, they wanted them to convert to rubles. Its all a huge mess and americans will be paying for this. Oil and energy will most likely remain high for the time to come as well as stagflation. Economy pretty fu*ked all bc of some woke flu virus to scare everyone, that pandemic started all of this and the blowback will continue to get worse. The federal reserve will most likely fu*k sh*t up soon to f*ght inflation but fu*k i think we might see 20%.

China russia and who else are def colluding to destory the american hegemony
+2   

Top 10 most slapped recently  2 months ago '22        #11
Booda Sack  topics gone triple plat - Number 1 spot x2
Props total: 7185 7 K  Slaps total: 4079 4 K
 DUCEDUCE said
Right sanctioning Russia was out of the blue, and Venezuela was sanctioned by Biden, and yes Biden stopped drilling ..
Venezuela was not done by Biden you are correct. However with Russia this is the consequence of meddling in other countries affairs. The sanctions didn't even work due to the limited supply Russia is making more money being able to sell at a higher price.

Also yes he canceled drilling leases

Top 10 most slapped recently  2 months ago '22        #12
Booda Sack  topics gone triple plat - Number 1 spot x2
Props total: 7185 7 K  Slaps total: 4079 4 K
 youngvito18 said
This is the only thing i dont get

Everytime war happens gas prices go crazy

Why arent we pushing to get the fuk out of oil
Because we have no replacements, Renewable energy can't sustain our energy needs, Electric vehicles starts off at 50k, we have not invested in nuclear energy due to environmentalist. Even if electric vehicles become cheaper we don't have the infrastructure to support them and they aren't even available due to the chip shortage globally.


Last edited by Booda Sack; 06-27-2022 at 01:32 PM..
+4   

 2 months ago '17        #13
Willy Boban  topics gone triple plat - Number 1 spot x11
Props total: 66706 66 K  Slaps total: 15060 15 K
 Booda Sack said
Because we have no replacements, Renewable energy can't sustain our energy needs, Electric vehicles starts off at 50k, we have no invested in nuclear energy due to environmentalist. Even if electric vehicles become cheaper we don't have the infrastructure to support them and they are even available due to the chip shortage globally.
Vehicle Electrical power stations will eventually charge just as much. Like $50 to power up. Plus they're going to make it to where you can no longer charge from a regular wall socket. So becareful my guys.

+2   

 2 months ago '11        #14
awww  topics gone triple plat - Number 1 spot x7
Props total: 68881 68 K  Slaps total: 48338 48 K
who care you n*ggas will be still driving if its 50 dollars so stfu complaining
-2   

 2 months ago '13        #15
wallace45 
Props total: 11936 11 K  Slaps total: 1701 1 K
 Fantastic said
China is starting a yuan reserve with 5-6 other countries, the plan is to remove the us dollar as reserve currency, which pretty much every other country besides us wants. Years ago everything had to be paid in us currency but that tide is changing. Russia wouldnt even take dollars from finland i think, they wanted them to convert to rubles. Its all a huge mess and americans will be paying for this. Oil and energy will most likely remain high for the time to come as well as stagflation. Economy pretty fu*ked all bc of some woke flu virus to scare everyone, that pandemic started all of this and the blowback will continue to get worse. The federal reserve will most likely fu*k sh*t up soon to f*ght inflation but fu*k i think we might see 20%.

China russia and who else are def colluding to destory the american hegemony
We did it to ourselves... I'm sure this probably would've happened eventually but bidens administration doing this definitely didn't help other countries seen this sh*t and probably got worried about it happening to them if they did something the west didn't like





Top 10 most propped recently  2 months ago '20        #16
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 68102 68 K  Slaps total: 12520 12 K
We got spoiled on that cheap oil the Pentagon stole for years in the Middle East & now we have to pay up . Please forward y'all worries to Washington because i heard they have $200 billion to give away to weaken China & Russia
+6   

Top 10 most slapped recently  2 months ago '22        #17
Booda Sack  topics gone triple plat - Number 1 spot x2
Props total: 7185 7 K  Slaps total: 4079 4 K
 Willy Boban said
Vehicle Electrical power stations will eventually charge just as much. Like $50 to power up. Plus they're going to make it to where you can no longer charge from a regular wall socket. So becareful my guys.

Facts it's cool now but you you think when half the cars on the street are electric these grocery stores will let you just charge up for free? Also lets not even get started on the electric company mafia and how they going to make sure they get the piece when every home will be charging up their car and the surge changes they going to hit us with.
+3   

 2 months ago '15        #18
PineappleOG  topics gone triple plat - Number 1 spot x2
Props total: 49930 49 K  Slaps total: 9537 9 K
We're getting fu*ked because our justice department refuses to enforce anti trust laws, fu*k the saudi's we have plenty of our own oil, leases going unused and price gauging under the guise of inflation. Both parties are complicit.
+9   

 2 months ago '13        #19
wallace45 
Props total: 11936 11 K  Slaps total: 1701 1 K
 Xiox said
We got spoiled on that cheap oil the Pentagon stole for years in the Middle East & now we have to pay up . Please forward y'all worries to Washington because i heard they have $200 billion to give away to weaken China & Russia
If it was actually weakening them nobody would care but from the looks of it we are feeling it more than Russia... sh*t crazy the agenda is clear if they really cared about Ukraine and their ppl the best option is to call for peace talks to end this war it benefits the world more than seeing Ukraine get destroyed and their ppl dying they hate Russia that much

 2 months ago '15        #20
donnyyy  topics gone triple plat - Number 1 spot x18
Props total: 34519 34 K  Slaps total: 4126 4 K
Nobody was driving during the pandemic and they had so much oil that they didn't have anywhere to put it, and the oil stock crashed.

It didn't just disappear. I highly doubt Russia is the main cause of what you're seeing right now.
+2   

 2 months ago '13        #21
wallace45 
Props total: 11936 11 K  Slaps total: 1701 1 K
 PineappleOG said
We're getting fu*ked because our justice department refuses to enforce anti trust laws, fu*k the saudi's we have plenty of our own oil, leases going unused and price gauging under the guise of inflation. Both parties are complicit.
Do we even really have that much oil? I heard the oil we have isn't really good quality compared to what we import from other countries

I'm not a expert and the ppl running this country are idiots but maybe there's legit reasons why they won't use the oil we have

Top 10 most propped recently  2 months ago '20        #22
Xiox  topics gone triple plat - Number 1 spot x1
Props total: 68102 68 K  Slaps total: 12520 12 K
 wallace45 said
If it was actually weakening them nobody would care but from the looks of it we are feeling it more than Russia... sh*t crazy the agenda is clear if they really cared about Ukraine and their ppl the best option is to call for peace talks to end this war it benefits the world more than seeing Ukraine get destroyed and their ppl dying they hate Russia that much
Every One of those whyte G6 countries helped the man k*ll a million people in Africa & the Middle East
+3   

 2 months ago '19        #23
unit321  topics gone triple plat - Number 1 spot x30
Props total: 60012 60 K  Slaps total: 12101 12 K
 d.c. supreme said
the dumb a*ses in the current state department blinken and co. insulted the saudis by bringing up khashoggi and they refused to take biden's call a month or so back. obviously what they did was fu*ked up but this is big boy politics you can't deal with gangsters and cartels like that when you actually need them. i think the admin got too c*cky thinking the build back better would get through and we'd all magically transition within a year () to electric and not need the saudis anymore. galaxy brain sh*t, complete fu*k up by the admin there. feel like MBS is going to clown biden further from here to make a point because he has the leverage, u.s. is going to have to up their ante weapons wise or something to even get close to making them budge on more production.

venezuela and iran are ready to deal but the venezuelan industry is completely decrepit it'd have to be re-started and re-funded. that isn't happening any time soon that sh*t takes years. iran they have more leverage because of the nuclear deal but that won't be but a drop in the ocean of supply needs the u.s. and other nations are facing they don't have enough production capacity to make any significant dent in the problem.

just a colossal fu*k up all around by the global leadership yet again, just like how they handled covid in the first place. dog sh*t leadership all around. putin stupidly getting bogged down in ukraine and xi is running china into the ground too all these guys have completely missed the forest from the trees.

another thing that is crushing other countries right now too is the rise of the $ dollar. it's at $104 right now. it hasn't been this high since 2002. which means every other country that has to deal in dollars for global trade or acquiring oil etc. are getting obliterated right now. there's going to be bad famine, riots, political upheaval, coups and all that sh*t in the near future. the world is down bad.
India is importing Russian crude oil and other raw materials. They don't have a lot of options. Meanwhile, Germany has opened up coal-fired generators (the dirtiest of all fossil fuels) because they aren't importing oil from Russia.
+4   

 2 months ago '05        #24
4REAL  topics gone triple plat - Number 1 spot x4
Props total: 63417 63 K  Slaps total: 21458 21 K
But but Uncle Joe will save us from bad insult orange man.
-2   

 2 months ago '19        #25
unit321  topics gone triple plat - Number 1 spot x30
Props total: 60012 60 K  Slaps total: 12101 12 K
 wallace45 said
Do we even really have that much oil? I heard the oil we have isn't really good quality compared to what we import from other countries

I'm not a expert and the ppl running this country are idiots but maybe there's legit reasons why they won't use the oil we have
So, the Middle East has the best crude oil. The quality of crude oil affects how easy it is to refine the oil.
+2   



Sign me up
 
 

yesterday...


most viewed right now
+133online now  22
PPP Loan Update (You've Been Warned)
387 comments
21 hours ago
@wild'ish
most viewed right now
+18online now  17
Guy I did time with is back in for murder
77 comments
21 hours ago
@wild'ish
most viewed right now
+41online now  17
"Day Shift" starring Jamie Foxx, Snoop and Megan Good is a nice little movie t..
101 comments
1 day ago
@movies
most viewed right now
online now  12
Quando rondo a*sociate rapper nh skilo guilty of ppp fraud faces 30 years
132 comments
19 hours ago
@hiphop
back to top
register register Follow BX @ Twitter search BX privacyprivacy