JohnDB
Platinum Member
- Jun 16, 2021
- 7,497
- 4,451
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OK....this is complicated.
Back during the Trump Administration Trump was capable of doing the impossible. He negotiated a peace and trade deal between the UAE and Israel.
(Palestinians felt betrayed by this)
Currently OPEC is trying to punish the UAE for making the peace and trade deal.
The oil infrastructure of the OPEC+ nations is aging...they are needing upgrades and maintenance on a regular basis...the UAE did a bunch of upgrades and capacity upgrades to cover while the others took their turn doing the same. But it's expensive and they need an increase in percentage of contracts to pay for it.
However... according to the Moslem religion if Israel exists then Mohammed was a false prophet and they are believing in a lie. So who did the UAE make a treaty with? Religious beliefs make a huge sector of the economy of Moslem nations.
Now the current Biden administration is looking to curtail "domestic" production...not anywhere else in truth...they don't care if Russia or the North and Central African coast are pumped dry of Oil. Really unconcerned about South and Central America pumping themselves dry either. (Cares about Canada for whatever reason)
So....
OPEC+ is going to have a difficult time coming to an agreement for a while...and their capabilities are getting worse... except for the UAE.
Brent Crude is still pumping and exploring...still refining and pumping offshore everywhere. So we won't see oil get really expensive for very long. We can always take the vast vast reserves of worthless soft yellow coal and turn it into diesel for roughly $75-90/barrel. (Old technology)
And OPEC is keeping an eye on our efficiency technologies... because we actually use lower petroleum products vs GDP ratio than any other nation. (We are extremely efficient and clean vx others)
Back during the Trump Administration Trump was capable of doing the impossible. He negotiated a peace and trade deal between the UAE and Israel.
(Palestinians felt betrayed by this)
Currently OPEC is trying to punish the UAE for making the peace and trade deal.
The oil infrastructure of the OPEC+ nations is aging...they are needing upgrades and maintenance on a regular basis...the UAE did a bunch of upgrades and capacity upgrades to cover while the others took their turn doing the same. But it's expensive and they need an increase in percentage of contracts to pay for it.
However... according to the Moslem religion if Israel exists then Mohammed was a false prophet and they are believing in a lie. So who did the UAE make a treaty with? Religious beliefs make a huge sector of the economy of Moslem nations.
Now the current Biden administration is looking to curtail "domestic" production...not anywhere else in truth...they don't care if Russia or the North and Central African coast are pumped dry of Oil. Really unconcerned about South and Central America pumping themselves dry either. (Cares about Canada for whatever reason)
So....
OPEC+ is going to have a difficult time coming to an agreement for a while...and their capabilities are getting worse... except for the UAE.
Brent Crude is still pumping and exploring...still refining and pumping offshore everywhere. So we won't see oil get really expensive for very long. We can always take the vast vast reserves of worthless soft yellow coal and turn it into diesel for roughly $75-90/barrel. (Old technology)
And OPEC is keeping an eye on our efficiency technologies... because we actually use lower petroleum products vs GDP ratio than any other nation. (We are extremely efficient and clean vx others)
