That Christianity gives joy and breadth is also a thread that runs through my whole life. Ultimately someone who is always only in opposition could not endure life at all.
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Red Ryder , Bob, Gareth
So, the US military will be very active in securing oil the US may need or want, but will also prevent other nations from accessing their oil.
The big reserves in Venezuela become very enticing now.
And poor Iraq definitely will have to fight a war against the US. Syria already knows it will be fighting soon to get control of its oil.
Logically, the easiest thing for the US is to dump the Kingdom and take the Saudi oil.
Lots of options for the Hegemon.
Trump's maxim: Take the Oil, soon will be national security policy. America First! MAGA. And all that Exceptional stuff.
Posted by: Red Ryder | Apr 11 2020 18:48 utc | 1
...
US Shale industry will not be allowed to collapse completely. If no deal with OPEC can be reached, look for war in the Persian Gulf. That would drive oil prices back up to where US Shale would be profitable again and it would avoid the unraveling of the derivative bomb.
US moves towards Venezuela and it consolidation of its forces in Iraq should be seen as preparatory moves for a war with Iran. The math has now changed in Washington...
Posted by: Bob | Apr 11 2020 18:52 utc | 2
...
The banks will take over ownership of the oil wells and be simultaneously bailed out. The large oil companies will also be bailed out. The small companies will be SOL.
Posted by: Gareth | Apr 11 2020 19:23 utc | 5
What is certain is that the Covid-19 recession allows for bailouts for shale oil companies and other which were going bankrupt which would certainly hardly have been politically expedient to do before the recession.
I expect much governent money being poured in to keep these zombie shale companies alive.