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mike959959595Oil Executives Say the Great Fuel Crisis Is Here
Trump officials say the oil-market disruption is temporary, but Chevron’s Mike Wirth and others warn global supplies are running low, with no respite in sight.
Commercial fuel stocks around the world have been depleting for more than six months, and strategic crude reserves can’t be tapped much further. Attacks last week shut down a crucial crude pipeline in Saudi Arabia that bypassed the Strait, stranding at least 2.5 million barrels a day from an already tight global oil market, analysts estimate.
“All these mechanisms helped to mitigate the price and supply risk,” Chevron Chief Executive Mike Wirth said Friday at an energy conference in Austin, Texas. “Those have largely now played out, and we don’t have nearly the buffers in the system that we did when it began.”
It is hard to predict where oil prices will go, he added, but at the moment, it is difficult to envision prices coming back down quickly. “I wish I could tell you that I saw some reason why things would ease, but it’s difficult right now to see that happen,” he said.
Veteran energy advisers say that with no resolution to the Iran war in sight, the situation risks spinning out of control. Diesel prices have soared to a record $6.23 a gallon and gasoline prices, which slipped below $4 a gallon this summer, have rebounded to $4.32. Some energy analysts say they have been fielding investor questions about when consumers pinched by the high prices will start pulling back on new purchases.
The Trump administration has repeatedly promised Americans that prices at the pump would decline and that energy flows out of the Middle East would keep increasing.
Interior Secretary Doug Burgum 
said at a Houston G-20 event on Monday that “the prices in the prior administration were this high anyway” and that Americans would have paid those prices permanently because former President Joe Biden was “pursuing a policy of energy subtraction and shutting down refineries.”
Meanwhile, he said, diesel supplies are tight because of refinery outages following conflicts in the Middle East and Russia. Demand for the fuel is expected to increase as farmers that use it for heavy equipment enter harvest season. “Diesel has no easy solution,” Pickering said.
Trump has said Ukraine must halt strikes on Russia that endanger global supplies of diesel.
https://www.wsj.com/business/energy-oil … _lead_pos3
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Re: Oil Executives Say the Great Fuel Crisis Is Here
Without fuel they were nothing. They built a house of straw. The thundering machines sputtered and stopped. Their leaders talked and talked and talked. But nothing could stem the avalanche. Their world crumbled. The cities exploded. A whirlwind of looting, a firestorm of fear. Men began to feed on men.
On the roads it was a white line nightmare. Only those mobile enough to scavenge, brutal enough to pillage would survive. The gangs took over the highways, ready to wage war for a tank of juice. And in this maelstrom of decay, ordinary men were battered and smashed.
Except for one man armed with an AK-47, and a Honda full of silver.
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HydeParkerRe: Oil Executives Say the Great Fuel Crisis Is Here
wrote:
Without fuel they were nothing. They built a house of straw. The thundering machines sputtered and stopped. Their leaders talked and talked and talked. But nothing could stem the avalanche. Their world crumbled. The cities exploded. A whirlwind of looting, a firestorm of fear. Men began to feed on men.
On the roads it was a white line nightmare. Only those mobile enough to scavenge, brutal enough to pillage would survive. The gangs took over the highways, ready to wage war for a tank of juice. And in this maelstrom of decay, ordinary men were battered and smashed.
Except for one man armed with an AK-47, and a Honda full of silver.
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VP_Spiro_T_CheneyRe: Oil Executives Say the Great Fuel Crisis Is Here
Step 1: recognize that Trump is fuqing shyt up
Step 2: figure out how to profit from it
Day after day as energy soars and the overall markets shyt the bed, my tanker and midstream and producer stocks go up.
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Re: Oil Executives Say the Great Fuel Crisis Is Here
WTI up $5 so far today.
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Re: Oil Executives Say the Great Fuel Crisis Is Here
Trump has made millions (maybe billions) of dollars off oil stocks since taking office. That should enrage every single American to demand those stocks be divested or he be impeached.
But Baggers will tie themselves in knots to defend his corruption because Baggerism is a mental illness.
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Re: Oil Executives Say the Great Fuel Crisis Is Here
Oil executive says there's no oil left. BUY BUY BUY!
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Re: Oil Executives Say the Great Fuel Crisis Is Here
[n.b.: it was 91919595.]
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Re: Oil Executives Say the Great Fuel Crisis Is Here
wrote:
[n.b.: it was 91919595.]
I just remember the fridge full of ketchup bottles and DIY surgery. 
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Re: Oil Executives Say the Great Fuel Crisis Is Here
VP_Spiro_T_Cheney wrote:
Step 1: recognize that Trump is fuqing shyt up
Step 2: figure out how to profit from it
Day after day as energy soars and the overall markets shyt the bed, my tanker and midstream and producer stocks go up.
Yep. I buy about 2 tanks a month. Meanwhile my energy portfolio goes up by thousands.
Thanks commutertards!
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