Wednesday, August 5, 2015

The Crock of @#$% Report v.023

August 5, 2015
Global Oil Supply More Fragile Than You Think

More fragile than I think? Perhaps the author is blissfully unaware that I watched Jarhead last night, lol. Sigh.

Perhaps it is just me, but those look like some pretty frickin' fragile oil wells. Since war is not mentioned anywhere in the article, and war seems to be the long-term plan for the Middle East, then perhaps the global oil supply is more fragile than the author thinks.

“It’s a monumental challenge to offset the impact of a 50% drop in oil price,” Fadel Gheit, an analyst with Oppenheimer & Co., told the WSJ. “The priorities have shifted completely. The priority now is to discontinue budget spending. The priority is to live within your means. Forget about growth. They are now in survival mode.”

Oil executives are starting to think just like me, a retired anonymous blogger who is very concerned about our long-term future. Uh, oh. Things are clearly worse than I thought.

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