WE APPRECIATE IT, GREAT UPDATE.
FOLKS HERE IS ANOTHER LITTLE
TAKE ON THIS STORY.
WITH ALL THE HOOPLA SURROUNDING
PRESIDENT JOBE JOE’S’S TRIP TO
POLAND, MEETING IN KYIV, MEETING
PRESIDENT ZELENSKYY, MORE
BRAVADO FROM PUTIN, DROPPING OUT
OF THE S.T.A.R.T. TREATY WITH
THE US, THE INSULTING STATE
STATE AND SUCKING UP TO VLADMIR
PUTIN, HERE IS NO ISSUE NO ONE
SEEMS TO BE TALKING ABOUT AT THE
MOMENT.
THAT ISSUE IS OIL.
SO LET’S TALK ABOUT OIL.
JOE BIDEN HATES OIL.
VLADMIR PUTIN LOVES OIL.
XI XINPING LOVES PUTIN’S OIL.
NOW REMEMBER ALL OF THE
SANCTIONS FROM THE U.S., THE EU,
NATO SANCTIONING THE RUSSIAN
CENTRAL BANK, SANCTIONING THE
RUSSIAN OIL PRODUCERS,
SANCTIONING BANK LENDERS,
INSURANCE COMPANIES, ALL THAT
AROUND THE WORLD, REMEMBER ALL
OF THAT STUFF?
WELL GUESS WHAT?
RUSSIA TODAY IS STILL SELLING
ROUGHLY 10 MILLION BARRELS OF
OIL PER DAY AND THAT IS
BASICALLY WHAT THEY WERE SELLING
A YEAR AGO.
HOW IS THIS POSSIBLE YOU MIGHT
ASK?
WELL THAT WOULD BE A VERY GOOD
QUESTION.
IT MAY BE UNANSWERABLE.
SANCTIONS REALLY HAVE NOT WORKED
BUT FOR SURE CHINA AND INDIA
HAVE BEEN BUYING UP ANY RUSSIAN
OIL PRODUCTION SLACK CREATED BY
REDUCED EUROPEAN DEMAND.
THAT IS BY THE WAY, REMEMBER OUR
GREAT FRIEND INDIA.
I DON’T KNOW WHAT THE U.S.
NUMBERS ARE.
I SINCERELY HOPE THEY’RE WAY
DOWN.
HERE IS A THOUGHT AND I THINK IT
IS AN IMPORTANT THOUGHT, WITH
RUSSIA STILL SELLING
10 MILLION BARRELS A DAY, THE
BASIC BALLPARK OIL PRICE RIGHT
NOW $80 A BARREL THAT IS
$800 MILLION A DAY FROM OIL
SALES AND, THERE IS 365 DAYS IN
A YEAR.
THAT COMES TO $292 BILLION, FOR
THE YEAR.
NOW THAT’S ENOUGH TO FIGHT A
WAR.
EVEN IF YOUR ARMY IS TERRIBLE
AND YOU’RE BUNGLING THE WAR LEFT
AND RIGHT, YOU STILL HAVE
292 BILLION.
OF WHICH BY THE WAY IS PROBABLY
SKIMMED OFF THE TOP AND STOLEN
BY PUTIN AND HIS CRONIES BUT
THAT’S A DIFFERENT SEGMENT.
NOW CONSIDER THIS, THE UNITED
STATES, FOR THE THREE YEARS
PRE-COVID UNDER FORMER PRESIDENT
DONALD TRUMP THE AVERAGE PRICE
OF OIL WAS ABOUT $60 A BARREL.
NOW IF THAT WERE THE SELLING
PRICE FOR PUTIN’S
10 MILLION BARRELS A DAY, THAT
WOULD COME TO $600 MILLION.
THAT TIMES 365 DAYS IN A YEAR,
THAT COMES TO $219 BILLION FOR
THE YEAR.
SO, LET ME COMPLETE THE
EXERCISE.
AT TODAY’S $80 WHERE PUTIN GETS
$292 BILLION VERSUS SEVERAL
YEARS AGO AT 60 BILLION WHERE
PUTIN WOULD HAVE ONLY GOTTEN
219 BILLION, THEN PUTIN HAS MADE
A TIDY PROFIT OF $73 BILLION FOR
THE YEAR, NOW HASN’T HE?
IN FACT THE OIL PRICE GOT WELL
OVER $100 A BARREL AT THE TIME
OF PUTIN’S INVASION OF UKRAINE
WHICH GREASED HIS POCKETS AND
HIS WAR MACHINE EVER MORE BUT
LET’S STAY WITH THE CURRENT
QUOTES.
THAT 73 BILLION-DOLLAR PROFIT MEANS THAT PUTIN IS PLAYING WITH
MEANS THAT PUTIN IS PLAYING WITH
HOUSE MONEY BUT IT’S OUR, U.S.
HOUSE.
PUTIN JUST STOOD THERE AND
WATCHED IT HAPPEN AND OF COURSE
FOUGHT A WAR AND OF COURSE
PROBABLY STOLE A GOOD CHUNK OF
IT ALSO.
NOW CONSIDER JOE BIDEN WHO HATES
OIL.
IF HE WEREN’T WAGERING WAR
AGAINST OIL VARIOUS PETROLEUM
PRODUCTS AND ALL FOSSIL FUELS,
WE MIGHT BE PRODUCING TODAY 14
OR 15 MILLION BARRELS A DAY.
RIGHT NOW INSTEAD OF THE ROUGHLY
12 MILLION BARRELS WE ARE US
PROKING.
14 OR 15 MILLION BARRELS A DAY
WHERE THE BEST ESTIMATES FROM
THE U.S. ENERGY DEPARTMENT A
COUPLE YEARS AGO.
THAT WAS ALL RIGHT BEFORE COVID.
WE WERE AT THE TIME OVER
13 MILLION BARRELS A DAY.
NOW I’M JUST BOEING TO MAKE A
GUESS, PURE GUESS.
I’M GOING TO SUGGEST THAT THE
WORLD PRICE OF OIL IF WE WERE
PRODUCING 14, 15 MILLION BARRELS
A DAY THAT WORLD PRICE OF OIL
WOULD COME IN SOMEPLACE GO TO
$50, JUST A GUESS.
I DON’T THINK IT WOULD BE 80 AND
ALMOST CERTAINLY I THINK A
PRETTY GOOD GUESS IT WOULDN’T BE
100.
SO JOE BIDEN’S GREEN NEW DEAL
RADICAL CLIMATE OBSESSION AND
THE GLOBAL PETROLEUM POLITICS
THAT GOES WITH IT AS REALLY PAID
OFF FOR, FOR, WAIT A MINUTE,
HANG ON JUST A SECOND, FOR
VLADMIR PUTIN AND HIS WAR
AGAINST UKRAINIAN FREEDOM.
NOW COULD PUTIN FIGHT A WAR AT
$50 A BARREL?
MAYBE BUT THAT IS NOT HIS
HISTORY.
HIS HISTORY IS WHEN OIL HITS
$130 A BARREL BACK IN JULY OF
2008 PUTIN FILCHED A BIG CHUNK
OF GEORGIA.
WHEN IT WENT ABOVE $100 A BARREL
IN FEBRUARY 2014 PUTIN PICKED
OFF CRIMEA AND ROUGHLY A YEAR
AGO WITH OIL ON TOP OF $100 A
BARREL PUTIN INVADED UKRAINE.
THINK ABOUT ALL OF THAT, PLEASE.
MORAL OF THE STORY?
PUTIN LIKES HIGH OIL PRICES,
DOESN’T HE?
SECOND MORAL OF THE STORY, WHY
IS THE BIDEN ADMINISTRATION
HELPING HIM WITH HIGH OIL
PRICES?
THIRD MORAL OF THE STORY, REOPEN
THE FOSSIL FUEL SPIGOTS HERE IN
THE U.S.
WE COULD SAVE THE UKRAINE AND IT
WILL SURELY BE AMERICA FIRST
AGAIN.
OKAY?
THAT’S MY RIFF.