Thanks to Vlad, crude oil or more directly “ the oil market” … oil has gone through the roof. Since it is the secret sauce to everything, I have few opinions, a recommendation, and a reality check.
First the reality, the players, there’s the raw material, then secondly an ”oil marketplace,(traders)”, thirdly there is over-dependence of said material, next, our human wastefulness, lastly and most sadly, as in agriculture, forestry, meat production, the vast number of our population are clueless, … we are so removed from where things come from, how much effort it takes to produce and process, we are so ignorant. I’m speechless. Not true, I’m never speechless.
The recommendation is really simple, go visit the Permian basin, you will love and hate the oil production business even more. It is an education, that everyone needs to have.
My opinions
- Keep oil prices high … it will create newer technologies and ring the in-efficiency from the system.
We are in part of that transition now, and Vlad is helping.
2. Definitely hoard our oil and get what we need from other countries, it is a horrific, messy, polluting business getting oil out of the ground. Go visit the Permian … if you think steak comes from a butcher, go see a Texas stock yard, then a slaughter house. Visit a chicken farm or a hog farm.… Vegetables, water and chemicals, so gross and wasteful.
3. The world has plenty of oil. If one thinks that we should use our own resources first, to be energy independent “so spikes like this” will not happen. The real issue is the “Trading Market”. They only need to talk scarcity or abundance and they can steer a market. Traders do this all the time in any commodity. They have lots of excuses too. War, supply chain, parts, environmental issues etc … ”the covid opening trade”. Fear Mongering is so easy.
Saudi Aramco – went public to try and put a value on whats in the ground, then paid a dividend, and can now ride a stock price and sell the raw material. Pretty brilliant.
Last opinion – not actually an opinion, our use of fossil fuels is like, slowly killing ourselves, maybe mother natures way of thinning the herd.