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Trump fosters market uncertainty and then complains about it

The predictability of Trump’s unpredictability is truly predictable

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Oil prices are on the rise, and Trump is not happy about it. This past Wednesday, Trump took to Twitter to express his displeasure with the rise in the price of oil, a price increase that is partly due to the sanctions that he himself imposed on the oil producing nation of Iran.


While the oil market can expect that the output realized from Iran will go down, a certain amount of uncertainty regarding the supply of oil throughout the remainder of 2018 remains. With a certain amount of supply exiting the forecast going forward, via less oil being supplied by Iran, and the uncertainty of the exact quantity being supplied over the course of the next few months, together with uncertainty over how Trump’s policies are going to affect it, oil prices are therefore increasing.

Associated French Press reports:

Just nine days before a big OPEC meeting, US President Donald Trump joined the oil-market fray on Wednesday, blaming the group for high prices.

“Oil prices are too high, OPEC is at it again. Not good!” the US president said on Twitter.

Trump’s grousing follows reports suggesting the oil exporters group was already planning to open the spigots, an outcome the International Energy Agency hinted at in its monthly report released earlier Wednesday.

“Statements by several parties suggest that action in terms of higher supply could be on the way,” said the IEA, which represents the US and other oil-consuming nations.

The IEA suggested the June 22 OPEC meeting in Vienna would need to boost output because of a political crisis in Venezuela that has pinched petroleum output and Trump’s decision to exit the Iran nuclear pact, which is expected to result in lower production from the Middle Eastern country.

Under one scenario weighed by the IEA, output from Venezuela and Iran by the end of 2019 could be 1.5 million barrels per day lower than it is today.

“To make up for the losses, we estimate that Middle East OPEC countries could increase production in fairly short order by about 1.1 mb/d and there could be more output from Russia on top of the increase already built into our 2019 non-OPEC supply numbers,” the IEA said.

OPEC flows were already higher in May, led by Saudi Arabia, the IEA said, adding that the oil kingpin was still in compliance with the Vienna deal caps.

Citing “people briefed on the discussions,” Bloomberg on Wednesday said Saudi Arabia had floated several oil output hike plans to fellow cartel members.

On the sidelines of the opening match of the World Cup on Thursday, President Vladimir Putin and Saudi Crown Prince Mohammad bin Salman will meet to discuss oil policy, Bloomberg added.

– Higher gasoline prices –

Trump’s complaints about OPEC come amid expectations of a more costly US summer driving season. A gallon of regular gasoline is currently $2.91, up 25 percent from the year-ago level.

Analysts attribute the rise in prices in part to OPEC’s action to defend prices.

OPEC and non-OPEC producers struck a deal in late 2016 to trim production by 1.8 million barrels per day to reduce a global glut that had sent prices crashing. Key producers, including Saudi Arabia and Russia, have reaffirmed the deal since then.

But Matt Smith, director of research at ClipperData, said Trump himself is responsible for some of the pressure due to the decision to exit the Iran deal.

“It’s confusing why the president would come out with a statement like this now,” Smith said. “The real catalyst for the recent rise in prices is the sanctions on Iran.”

US oil benchmark West Texas Intermediate for July delivery finished up 28 cents at $66.64 a barrel on Wednesday, while European benchmark North Sea Brent oil gained $1.06 to $76.74 a barrel.

While the world turns its eyes on the Vienna OPEC meeting, oil market watchers are also monitoring activity in Trump’s home market, where higher prices are feeding more production of American shale oil.

US production of oil came in at 10.9 million barrels per day last week, according to data released Wednesday by the US Energy Information Administration, up nearly 17 percent from the year-ago level.

OPEC itself spotlighted US output in its own monthly report on Tuesday, citing the growth of non-OPEC supply as one of several question marks hanging over the situation.

Various sources show that “considerable uncertainty as to world oil demand and non-OPEC supply prevails,” OPEC said, leading to a wide range of estimates for the remainder of 2018.

The Trump effect on markets is not merely how his present policies are going to shape market conditions, but whether he will even stick with them, and what he may or may not do going forward, as Trump reshapes market conditions frequently, sometimes just through a tweet. Meanwhile, Trump complains about it, of course, on Twitter. The predictability of Trump’s unpredictability is truly predictable.

 

 

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tibetan cowboyJohn R Balch Jr Recent comment authors
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I believe all of Venezuela’s oil is now being sold to China, with China also assisting Venezuela with loans and expertise in their infrastructure developments (ports, pipelines, shipping, etc.). Venezuela and China are not using the petro dollar for business anymore. Venezuela has developed their own trade system with bitcoin currency. China is now using their gold-based Yuan more and more as they dump dollar based trading, a major international movement that is growing away from dollar denominated oil business. This loss of dollar trade will contribute significantly to the economic crash and depression on the American horizon.

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HAY Trump, Gas always goes up in the summer time because people are traveling more and going on vacations. Not like you who has everything handed to you.

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World War I Homage – A Triumph of Lies and Platitudes

The unilateral, lawless imperialism that engendered World War I and 20 years later World War II is still alive and dangerously vigorous.

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Authored by Finian Cunningham via Strategic Culture:


World leaders gathered in Paris on Sunday under the Arc de Triomphe to mark the centennial anniversary ending World War I. In an absurd way, the Napoleon-era arc was a fitting venue – because the ceremony and the rhetoric from President Emmanuel Macron was a “triumph” of lies and platitudes.

Among the estimated 70 international leaders were US President Trump and Russian counterpart Vladimir Putin, each sitting on either side of Macron and his wife. German Chancellor Angela Merkel was also given pride of place beside the French president.

Macron’s address to the dignitaries was supposed to be a call for international multilateralism. He urged a “brotherhood” for the cause of world peace. He also made a pointed rebuke of “nationalism” as posing a danger to peace – a remark which seemed aimed at Donald Trump who recently boasted of his politics with that very word.

But, ironically, everything about the ceremony and Macron’s speech resonated with jingoistic French nationalism, not his avowed multinationalism. As the politicians sat under the Arc de Triomphe, Macron walked around its circular esplanade in a salute to assembled French military forces bearing assault rifles and bayonets. The French anthem – The Marseillaise – was played twice, once by an army brass band, the second time sung by an army choir. There was also a military plane flyover displaying the blue, red and white tricolor of the French national flag.

In his speech, Macron talked about soldiers coming from all over the world to “die for France” during the 1914-18 Great War. He even said at one point that the war was fought for “the vision of France” and its “universal values”.

This was fluent drivel, French-style. No wonder Russia’s Putin momentarily gave a look of boredom as Macron waxed lyrical.

The speechifying and commemoration was completely detached from current realities of conflict and international tensions.

Among the “brotherhood” whom Macron was appealing to were Israeli Prime Minister Benjamin Netanyahu whose military forces continue to bomb and slaughter Palestinian civilians in illegally occupied territory. Also present was Ukrainian President Petro Poroshenko whose armed militias continue to terrorize the people of eastern Ukraine with the blatant objective of instigating a war between the US-led NATO alliance and Russia.

Listening to Macron one would think that World War I erupted mysteriously from no specific cause and that an estimated 10 million soldiers were all killed in heroic battles for noble principles.

There was, of course, no mention by Macron of imperialist warmongering and the barbaric sacrifice of humans as slaves in the service of national capitalist power interests.

Grotesquely, as the world leaders donned solemn faces and mouthed pious platitudes for peace, the whole occasion was a triumph in burying reality and the ongoing causes of wars, as well as whitewashing the very culprits responsible for wars. Among the war criminals wearing a mournful black suit was former French President Nicolas Sarkozy who launched the NATO blitzkrieg on Libya in 2011.

While the empty, self-indulgent rhetoric was ringing out, one couldn’t help but recall some of the most glaring contemporary contradictions that were blocked out with awesome Orwellian efficiency.

Just this week, reports emerged of the horrific civilian death toll from the American air force bombing the Syrian city of Raqqa. The city was razed to the ground by US air strikes last year – supposedly to defeat the ISIS terror group. Some 8,000 bodies of civilians, mainly women and children, have now been recovered by Syrian government forces. And that’s only from clearing away a tiny area of rubble for the whole city.

What the Americans did in Raqqa was a monumental war crime, all the more criminal because US forces, along with their NATO partners Britain and France, are illegally present in and assaulting sovereign Syrian territory.

As Macron was telling world leaders about “the vision of France”, hundreds were being killed in Yemen in a battle to strangle the entire population by taking the port city of Hodeida. The genocidal war on that country – which is putting up to 16 million people at risk from starvation – has been fully backed by France, the US and Britain, from their supply of warplanes and bombs to the Saudi and Emirati aggressive forces.

We could mention other specific conflicts where the culprits are clearly identified. For example, the multi-million-dollar support from Washington for the Azov Battalion and other Neo-Nazi militias in Ukraine, which openly emulate the genocidal conduct of Hitler’s Third Reich to exterminate ethnic Russians.

We could mention how US-led NATO forces continue to expand towards Russian territory with outrageous provocation. The mounting earlier this month of the biggest-ever NATO war drills since the Cold War in the Arctic region adjacent to Russia’s northern border was a brazen threat of rehearsing invasion. The announced tearing up of yet another nuclear arms control treaty unilaterally by Washington is a reckless undermining of global security.

Washington threatens China with naval forces marauding near Beijing’s maritime territory in the South China Sea. Washington blockades Iran with illegal economic warfare and openly agitates for regime change. Washington declares Venezuela, Nicaragua and Cuba a “troika of tyranny” and reserves the right to threaten each of these countries with military invasion at any time.

Meanwhile, this weekend, Russia hosted peace talks in Moscow between the warring parties of Afghanistan. It was seen as a major breakthrough in trying to bring peace to the Central Asia country which has been wracked by 17 years of violence since US forces began their ongoing military occupation – allegedly to defeat terrorism.

Elsewhere, Russia has engaged with Turkey, Germany and France to convene a summit for peaceful reconstruction of Syria. The latest summit held in Ankara at the end of last month follows several other such meetings in Astana and Sochi, largely at the behest of Russian leader Vladimir Putin, to find a political settlement to the nearly eight-year war in Syria – a war that was fomented covertly by Washington and its allies for regime change.

France’s Macron talks about “multilateralism” for world peace, yet the two countries which have arguably supported and implemented multilateralism in practice are Russia and China in their calls and policies for global partnership and economic development.

And yet it is Russia and China that are being harassed with American and European sanctions, and US military provocations.

The unilateral, lawless imperialism that engendered World War I and 20 years later World War II is still alive and dangerously vigorous. We only have to look around the present world to realize that. But when the culprits indulge in a triumph of bullshit then we also know that the world is once again in very grave danger.

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Creepy Porn Lawyers’ disgusting assault on Tucker Carlson and his 19 year old daughter (Video)

The Duran Quick Take: Episode 14.

Alex Christoforou

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Days after ANTIFA targeted Fox News’ Tucker Carlson’s home, trying to intimidate and scare the TV host into curbing his free speech against totalitarian mob rule propagated by ANTIFA and their paymasters, it appears that the SJW establishment swamp is going after Tucker with everything they got…sending in the expendable, and always eager to get publicity, Creepy Porn Lawyer, Michael Avenatti, to try and ensnare Carlson in some sort of racist assault scandal.

The entire event appears to be a staged, purposefully hitting upon all the right identity politics buttons…so as to maximize full SJW pressure on Tucker and Fox News.

The Gateway Pundit reports that Tucker Carlson has denied Michael Avenatti’s charges of assault, and explains that his actions were prompted by an unhinged gay man calling his daughter a wh*re and a c**t…

Creepy porn star Michael Avenatti made headlines again this weekend with trumped up charges of assault against FOX News host Tucker Carlson.

On Saturday Avenatti released video of Tucker Carlson in an argument with a crowd of people at a country club in Virginia.

Avenatti claims Tucker assaulted a gay Latino immigrant for no reason.

Avenatti posted this video made the allegations on Saturday.

RT CrossTalk host Peter Lavelle and The Duran’s Alex Christoforou take a quick look at the SJW swamps’ latest attempt to smear Tucker Carlson, by going after his 19-year old daughter, in a disgusting display of misogyny and hate towards the very women that establishment liberal claims to defend.

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Here’s Carlson’s full statement about the incident:

“On October 13, I had dinner with two of my children and some family friends at the Farmington Country Club in Charlottesville, Virginia. Toward the end of the meal, my 19-year-old daughter went to the bathroom with a friend. On their way back through the bar, a middle aged man stopped my daughter and asked if she was sitting with Tucker Carlson. My daughter had never seen the man before. She answered: ‘That’s my dad,’ and pointed to me. The man responded, ‘Are you Tucker’s whore?’ He then called her a ‘f—— c—.’

“My daughter returned to the table in tears. She soon left the table and the club. My son, who is also a student, went into the bar to confront the man. I followed. My son asked the man if he’d called his sister a ‘whore’ and a ‘cunt.’ The man admitted he had, and again become profane. My son threw a glass of red wine in the man’s face and told him to leave the bar, which he soon did.

“Immediately after the incident, I described these events to the management of the Farmington Country Club. The club spent more than three weeks investigating the incident. Last week, they revoked the man’s membership and threw him out of the club.

“I love my children. It took enormous self-control not to beat the man with a chair, which is what I wanted to do. I think any father can understand the overwhelming rage and shock that I felt seeing my teenage daughter attacked by a stranger. But I restrained myself. I did not assault this man, and neither did my son. That is a lie. Nor did I know the man was gay or Latino, not that it would have mattered. What happened on October 13 has nothing to do with identity politics. It was a grotesque violation of decency. I’ve never seen anything like it in my life.”

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Former Hillary Clinton Advisor: She’s Running Again in 2020

Clinton admitted that while she doesn’t want to run again — she would “like to be president.”

The Duran

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Via The Gateway Pundit…


Hillary Clinton’s former adviser Mark Penn is warning the public that we should brace ourselves for another run from the power hungry sore loser in 2020.

Penn co-wrote in a Sunday op-ed for the Wall Street Journal that she “won’t let a little thing like two stunning defeats stand in the way of her claim to the White House.”

“True to her name, Mrs. Clinton will fight this out until the last dog dies,” the op-ed that Penn authored with Andrew Stein claims. “She won’t let a little thing like two stunning defeats stand in the way of her claim to the White House.”

Like a cockroach that just won’t die, or the final boss in a video game that keeps obnoxiously coming back after each defeat — Clinton just won’t go away.

Penn said that by “reinventing herself as a liberal firebrand, Mrs. Clinton will easily capture the 2020 nomination.”

“You can expect her to run for president once again,” he said. “Maybe not at first, when the legions of Senate Democrats make their announcements, but definitely by the time the primaries are in full swing.”

Last month, Clinton admitted that while she doesn’t want to run again — she would “like to be president.”

Even some of her closest allies want her to give it a rest though.

“She’s more likely to win Powerball,” Philippe Reines, Clinton’s longtime adviser, told The Hill.

While nobody really wants to hear that woman’s voice ever again — at least the right can recycle all their best memes from 2016.

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