The coming "Grab for Oil"
It is hugely premature to talk of tapping the US Strategic Petroleum Reserve (SPR), yet incredibly that is what is reportedly (read Reuters) being discussed in the Bedlam that is Barack Obama's White House.
Two factors maintain the myth of Global Energy Security. The first is Saudi Arabian spare productive capacity and the second is the SPR. The highly successful decades long propaganda campaign regarding Saudi reserves cannot withstand any evidently effective Days of Rage, (read AEP in the Telegraph this morning), while the SPR is clearly finite.
The Quantatitive Easing Revolts (or Bernanke Bankruptcies) now sweeping the world, might soon arrive in the industrialised West, if some Government, somewhere, does not quickly get a grip.
Two factors maintain the myth of Global Energy Security. The first is Saudi Arabian spare productive capacity and the second is the SPR. The highly successful decades long propaganda campaign regarding Saudi reserves cannot withstand any evidently effective Days of Rage, (read AEP in the Telegraph this morning), while the SPR is clearly finite.
The Quantatitive Easing Revolts (or Bernanke Bankruptcies) now sweeping the world, might soon arrive in the industrialised West, if some Government, somewhere, does not quickly get a grip.
Labels: Bernanke Bankruptcies, QE Revolts, Quantitative Easing
posted by Martin at 8:49 AM
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