Hey, forget the oil and gas. We have the big ballroom and a big June 14, 2026 UFC Freedom 250 fight coming.
I feel like they forgot the bread part of " the bread and circus "
Chevron as well.
Everything points to early to mid-July being a tipping point for fuel costs.
The higher the prices go the less people buy the product. There will be a point where EV’s reduce the demand, then the whole business collapses (unless we use fossil fuels to run generators that produce electricity to charge the EVs, but that would never happen…).
The military machine will remain powered by petroleum for the foreseeable future which will keep it propped up somewhat. Personal transportation is a considerable chunk of the customer base but so are plastics, pharmaceuticals, agriculture, and logistical/transportation industries like airplanes and diesel locomotives. It’s still a net positive impact and should lower prices overall with decreased demand for it.
Let me summarize the situation.
- There will be no deal. The US isn’t prepared to make an offer that Iran will agree to.
- Europe will run dry first and Russia will use this situation to extract massive concessions on Ukraine.
- The US will run dry by year’s end. Yankees, your politicians are lying to you. You’re not a net oil exporter, the balance is -7 million bpd and your SPR is half delpeted now.
Oh we know they’re lying. Even if the strait was declared fully open today:
-Still needs to be de-mined, which could take months.
-Ships need enough confidence and/or insurance coverage to actually start going through.
-Ships need to transit the Atlantic Ocean to start delivering oil, which takes another month.
-The refineries need to process the fuel into refined products and deliver it to stations, which also takes time.
The SPR is going to be hurting by the time all those things happen, if they happen at all. I’d say August maybe is when the US bans exports.
All I read is that an oil company will have more massive profits.
