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The Oil Price as Rope in A Tug-of-War
Remember when the oil price shot up to an unprecedented level of nearly $150 a barrel a decade ago, right in the middle of the Global Financial Crisis? Odd timing, huh? How, during that general fiscal fear & mayhem, this manic run-up in price of the most important industrial commodity on earth forced you to feel serious pain at the fuel pump alongside property prices dropping, only to then watch as the oil price plummeted more than 70% within six months?
Pure supply & demand, was it all? Or something else? And why, after over a year and a half of oil’s price remaining below $60 a barrel, has the price started to rise in the fashion that it has again over the past year? Any coincidence between this oil price spike and the fact that the stock market is starting to correct as it did ten years ago?
No, correlation – whether tight or loose - doesn’t equal causation, yet neither are oil’s prices in Brent or WTI futures purely market driven, either. As we’ve said, the oil price is a key geopolitical tool. Certain mega-banks do quite well during high oil prices, based simply on what the petrodollar standard itself even is. Some of those banks were also in pole positions to hoover up merging or consolidating assets during & after the ’08 Crisis. They’ll certainly want to buy stuff on the cheap this time around as well, and presumably after fresh rents from higher oil prices.
In this 32nd episode of Money & Fear, and as always, in the program’s cited Show Notes listed under the videos on our website, we’ll erect a bookend to the earlier episode back in May of this year on the politicized nature of the oil price, the players involved, and certainly global pricing & trading platforms seeking to sustainably rival the dollar-based regime which accounts for such video-game-like periodic volatility in black gold’s stated value.
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Show Notes
How the United States manipulates global oil prices
Qatar, Russia defend OPEC, deny manipulation of oil prices
Oil Price History With Highs and Lows Since 1974: What Makes Oil Prices So Volatile
It’s Time To Talk About Petrodollar Flows
The Strange Tale of the “Phantom Oil” Glut – and Why It’s About to Vanish
The IEA’s Warning To Oil Producers
More than ever, big oil exporters must diversify economies: IEA
Banks expected to share tiny proportion of mammoth Saudi Aramco IPO
Economic Watch: China increases agricultural imports to benefit itself, the world
David Stockman: Stocks will plunge 50% in this 'daredevil market'
If History Repeats Itself – The Next Financial Crisis is Around the Corner
Opinion: What the Fed doesn’t know about inflation could cost you your job
The Fed Is Serious - It Wants Higher Inflation
Today, inflation. Tomorrow, crisis?
Key facts about the great oil crash of 2014
Targeting Iran Deconstructed: What They Don’t Want You to Know
The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret
Petro-yuan may prove a bigger headache to US than trade wars
Can China really become a rival to Brent and WTI?
The History of Crude Oil Prices Since the 1900s
Crude Oil Prices - 70 Year Historical Chart
The Oil “Price” Is A Key Political Tool
BP says Iran oil bans to trigger extreme price volatility
What countries are the top producers and consumers of oil?
Saudis may seek funding in Chinese yuan
Spotlight: Chinese yuan rises in global oil markets as Saudi seeks funding in RMB
OPEC 'powerless to prevent' oil prices jumping toward $100 a barrel this year
Goldman Sachs: Brent To Hit $80 Before Year-End
Trump tells UN General Assembly OPEC is 'ripping off' the world
United Kingdom Government Debt-to-GDP
With Russia Already Onboard, Saudi Arabia Key to Petro-Yuan Success
OPEC and Russia shrug off US pressure to cut oil prices
Exclusive: Saudi Arabia, Russia agreed in September to lift oil output, told U.S.
Shanghai International Energy Exchange
Chinese yuan rises in global oil markets as Saudi seeks funding in RMB
Rise of petro-yuan provides dilemma for Saudi Aramco
Saudi Arabia Reportedly Puts its Aramco IPO on Hold
The Next U.S. Clash With China Will Be All About Iran’s Oil
U.S. Expects China to Buy Even More Iranian Oil After Sanctions
China keeps buying Iranian oil, and the trade war adds a reason to defy US sanctions
China Stops Buying U.S. Oil, Two Months After Record Total
Are Russia And China Trying To Kill The Dollar?
Look How the Big Banks are Manipulating Oil Prices Now
Russian energy minister Novak: No need to freeze or cut oil output levels
Emerging economies stockpiling gold in expectation of US dollar banking system collapse – analysts
Can Russia stop using the US dollar?
Putin backs plan to de-dollarize Russian economy
Papers
The Most Dangerous Idea in Federal Reserve History: Monetary Policy Doesn’t Matter
Videos
How Oil Companies Manipulate Oil & Gas Prices
What's behind the falling price of oil? - Inside Story
Taleb Says World Is More Fragile Today Than in 2007
‘Petrodollar’ Exposed: The Root of Special US-Saudi Relationship
Books
The Gold Cartel: Government Intervention on Gold, the Mega Bubble in Paper, and What This Means for Your Future by Dimitri Speck
A Century of War by F. William Engdahl
*For additional footnotes and links refer to the Newsbud article link above
