Global Events & Politics Überthread

[chop2chip]

Oh it isn't?

China finally paying market (above market rates) now for their oil while prices are significantly less for America. We are getting buy in from our allies that policing the lunatic muslims requires a global approach.

Meanwhile, Venezuela is ramping up and production in the states is increasing. Have fun globe trying to industralize with rocketing energy costs. Also, have at it with Ukraine and Russia now that you don't want to help us with something else.

Americans are not paying less for oil

whether Venezuela pumps oil that Chinese consume or Americans consume, has little to effect on oil prices. It’s a global commodities market and arbitrage enforces a near equilibrium.

The bigger problem is the global supply of oil is down significantly because of this War err ummm I mean “bombing to the Stone Age”. Until that problem is resolved, it’s a disaster.