I can guarantee you the opposite. Sooner or later the right wing terrorists will attack again.
Biden admin cancels plan to refill emergency oil reserve amid high prices
- Thread starter ExpressLane
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I can guarantee you the opposite. Sooner or later the right wing terrorists will attack again.
The NeoCons are in the Republican Party, not Biden's cronies. Biden has not advocated for attacking Iran, like much of the trump administration did.
Contrails are produced by jet engines. Burning fuel creates humidity that condenses quickly when it cools. It is called science.
I guess anyone can "project" the price, but the markets are not predicting that. The average prediction of the WTI futures is $80 for the end of the year. 95% of the predictions are between $50 and $120.
If you really believe it will go to $130, invest as much money as you can in futures. You can make a fortune... If it does go to $130. If it does not, you will lose everything.
We've already been through this, Walt. Neocons side with any politician who is in favor of US global dominance, and support of israel at any cost. War instead of diplomacy. There is not a neocon war Biden did not support. His voting record is public information. That's why he was selected as a scapegoat for neocon atrocities.
You are like trump. You support the NeoCons until they fail, and then suddenly you are claiming you were always against them.
Your adhoms shows me when you realized you lost the argument. What are the odds of oil going to $130 a barrel in 2024?
The market is pricing the odds of oil going to $130 in 2024 at less than 1%.
The Global South is developing at a much faster rate than the US is willing to admit. Market forecasts don't account for what's happening in the real world. That's why we can never agree on anything. There are only 9 months left in 2024 so we'll get to see for ourselves.
The best guess is that global economic growth will be 3.1% this year. Part of the reason for that is China(part of the global south) is having terrible growth compared to what it usually has. America is one of the best growing economies. And China is going electric at an insane rate.
Besides, the global south is willing to buy cheaper Russian oil. That keeps the price down.
You might be right, and everyone else might be wrong... But the odds are against that.
U.S. Tax Revenue by Year
Here's a record of income for each fiscal year since 1962. Tax receipts fell off during the recession but started setting new records by FY 2013.3
Congressional Budget Office. "Historical Budget Data."
FISCAL YEAR REVENUE
FY 2022 $4.90 trillion
FY 2021 $4.05 trillion
FY 2020 $3.42 trillion
FY 2019 $3.46 trillion
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.78 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion
FY 2009 $2.11 trillion
FY 2008 $2.52 trillion
FY 2007 $2.57 trillion
FY 2006 $2.41 trillion
FY 2005 $2.15 trillion
FY 2004 $1.88 trillion
FY 2003 $1.78 trillion
FY 2002 $1.85 trillion
FY 2001 $1.99 trillion
FY 2000 $2.03 trillion
FY 1999 $1.83 trillion
FY 1998 $1.72 trillion
FY 1997 $1.58 trillion
FY 1996 $1.45 trillion
FY 1995 $1.35 trillion
FY 1994 $1.26 trillion
FY 1993 $1.15 trillion
FY 1992 $1.09 trillion
FY 1991 $1.06 trillion
FY 1990 $1.03 trillion
FY 1989 $991.1 billion
FY1988 $909.2 billion
FY 1987 $854.3 billion
FY 1986 $769.2 billion
FY 1985 $734.0 billion
FY 1984 $666.4 billion
FY 1983 $600.6 billion
FY 1982 $617.8 billion
FY 1981 $599.3 billion
FY 1980 $517.1 billion
FY 1979 $463.3 billion
FY 1978 $399.6 billion
FY 1977 $355.6 billion
FY 1976 $298.1 billion
FY 1975 $279.1 billion
FY 1974 $263.2 billion
FY 1973 $230.8 billion
FY 1972 $207.3 billion
FY 1971 $187.1 billion
FY 1970 $192.8 billion
FY 1969 $186.9 billion
FY 1968 $153.0 billion
FY 1967 $148.8 billion
FY 1966 $130.8 billion
FY 1965 $116.8 billion
FY 1964 $112.6 billion
FY 1963 $106.6 billion
FY 1962 $99.7 billion
U.S. Tax Revenue by Year
Here's a record of income for each fiscal year since 1962. Tax receipts fell off during the recession but started setting new records by FY 2013.3
Congressional Budget Office. "Historical Budget Data."
FISCAL YEAR REVENUE
FY 2022 $4.90 trillion
FY 2021 $4.05 trillion
FY 2020 $3.42 trillion
FY 2019 $3.46 trillion
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.78 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion
FY 2009 $2.11 trillion
FY 2008 $2.52 trillion
FY 2007 $2.57 trillion
FY 2006 $2.41 trillion
FY 2005 $2.15 trillion
FY 2004 $1.88 trillion
FY 2003 $1.78 trillion
FY 2002 $1.85 trillion
FY 2001 $1.99 trillion
FY 2000 $2.03 trillion
FY 1999 $1.83 trillion
FY 1998 $1.72 trillion
FY 1997 $1.58 trillion
FY 1996 $1.45 trillion
FY 1995 $1.35 trillion
FY 1994 $1.26 trillion
FY 1993 $1.15 trillion
FY 1992 $1.09 trillion
FY 1991 $1.06 trillion
FY 1990 $1.03 trillion
FY 1989 $991.1 billion
FY1988 $909.2 billion
FY 1987 $854.3 billion
FY 1986 $769.2 billion
FY 1985 $734.0 billion
FY 1984 $666.4 billion
FY 1983 $600.6 billion
FY 1982 $617.8 billion
FY 1981 $599.3 billion
FY 1980 $517.1 billion
FY 1979 $463.3 billion
FY 1978 $399.6 billion
FY 1977 $355.6 billion
FY 1976 $298.1 billion
FY 1975 $279.1 billion
FY 1974 $263.2 billion
FY 1973 $230.8 billion
FY 1972 $207.3 billion
FY 1971 $187.1 billion
FY 1970 $192.8 billion
FY 1969 $186.9 billion
FY 1968 $153.0 billion
FY 1967 $148.8 billion
FY 1966 $130.8 billion
FY 1965 $116.8 billion
FY 1964 $112.6 billion
FY 1963 $106.6 billion
FY 1962 $99.7 billion
So you discovered the population grows every year. Congratulations.
There quote was about nobody paying taxes. Duh! Look up^^^
Add in the wars in Ukraine and Gaza, along with the terrorist attack on the Crocus City Hall and Iran's diplomatic facility in Damascus. Will Iran close the Strait of Hormuz or bomb Saudi oilfields?
Will Russia retaliate?
There are too many unknowns for the markets to say what will happen with the price of oil. Things change quickly in times of war.
Iran is in desperate need of money, so will not close the Strait of Hormuz. This is nowhere near as bad as the Iran-Iraq War where the Persian Gulf was a war zone, and both sides regularly attacked oil shipments.
It is highly doubtful that Iran will directly attack the Saudi oilfields, but the Houthis might. When trump was president, the Houthis attacked Saudi oil processing facilities, knocking out 5% of global production, and the effect was ... ALMOST NOTHING!!! The Saudi's have so much capacity that they are not using that you can destroy huge amounts of it, and they will just turn on capacity they were not using to replace it.
Neocons have wet dreams about war with Iran. Biden is their perfect scapegoat. It's going to be a long hot summer. israel will continue goading Iran until they retaliate. That's when we'll see the price of oil go way up.
"Biden is too pro-Iran... or too anti-Iran... or maybe both..." It is getting silly.
Biden isn't in control of his own bowel movements. He surrounded himself with war mongers who've wanted to get their hands on Iran oil for 115 years. Where do you think BP came from?
Biden is a thin guy, and is clearly not wearing diapers. trump is wearing puffy diapers, because he is actually not in control of his bowel movements. It was so puffy that people thought he was wearing his pants backwards.
Actually, he surrounded himself with the same people who created the previous peace agreement with Iran. They are the opposite of war mongers.
trump surrounded himself with oil men and war mongers.
Today is Eid al-Fitr, so tomorrow we'll see if Iran retaliates for their consulate being bombed. I'm sticking with $130 a barrel, but if the US gets even more involved, oil could double in price.