Putin On The Ritz: Reality-challenged Vladimir Putin has signed the new Russian budget for 2015, which assumes oil will sell for $100 a barrel. At the same time, officials in the Kremlin who didn't get the memo said that Russia will fall into recession in 2015 because of oil's low price. Russian hookers, ultimate economic realists, have hiked their prices as the value of the ruble falls.
Immigration: Republicans claim Obama is an out of control dictator ruling by executive order. But his immigration rules not only broke no laws, they didn't even set a precedent. All Obama did was tell the federal enforcement agencies to concentrate on those illegal immigrants who are a danger to the public, not those who are working, paying taxes and raising their American children. But the Republicans want to split up millions of families to preserve our sacred family values.
Futility, Exercise In: A UN resolution wants to force Israel to give up all of the nuclear weapons it has illegally developed and stockpiled.
Humpty Dumpty: Permits for new drilling new shale oil and gas wells have fallen by nearly 40% in the last month. In 60-90 days production from fracking will begin to fall, because output from these wells decline significantly in the first year and new wells (drilled in ever less lucrative areas) do not produce as much as those they replace. Fewer wells, producing less. Who could have guessed? Okay, besides the Saudis?
Dumbroll: Republicans, ever on the lookout for ways to express how very outraged they are at President Obama
The Way-Black Machine: The NYX cop who choked Eric Garner to death was not indicted, but the black bystander who recorded the incident was. Milwaukee police officer Christopher Manney will not face charges for shooting a mentally-ill black man 14 times from behind and above. A Fox commentator wants Michael Brown's stepfather charged with his death because he failed to teach the boy appropriate servility to white authority.
Castor Oil: In a push to increase corporate profits, ship more jobs overseas and lower pay in the US, Obama is urging labor unions to commit suicide by supporting 'free trade' agreements.
Want To Get Fried With That? Burning petroleum – in cars, planes, trains and ships – is generally thought to be Very Bad for the climate. And it is. But growing meat for our tables is worse. We may cut back on our electrical use and our aimless driving, but eat less meat? Oh please.
Self-fulfilling Profits, See: The Saudis say that $60 a barrel will be just fine, thank you, because they are rich enough to be able to wait out those little frackers in the US. Don't mess with the junk yard dog.
4 comments:
your lead story notes Putin's delusion that oil will sell for $100, and three stories down you note that fracked oil could go into declines soon. See any connections there?
PS: Read you everyday.
Everything, nearly, is connected to oil. My to-do (well, to read and the do) pile is full of authoritative but speculative blather on oil, plus one or two items with Actual Data.
I may take a day or two off soon and concentrate on oil/economy/the end of life as we know it and politics.
Meanwhile, sure, the Russian budget charade and the fantasyland of a fracking cornucopia are connected...
Sorry but Putin is not delusional. He is fully aware that the US has declared war on Russia, using the dollar monopoly as a weapon as it knows it cannot win militarily.
You really should stop reading MSM if you want to have any credibility.
If the Russian budget is, as reported, based on the assumption of $100 oil during 2015, its drafters and those who approved it are... delusional.
That Putin understands the US is committing acts of aggression (the sanctions, the games with and in Ukraine) in order to limit and confine Russia is not up for discussion. But that doesn't explain the assumptions behind the 2015 budget.
Only if the value of the ruble soars could this be plausible, and that is implausible given current facts on the ground. Now if their budget depends on an assumed collapse of the US economy, maybe they're on to something...
And the only MSM I routinely read is Reuters.
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