Oil price is driven by a market.
Growth is driven by inexpensive energy.
Capitalism is driven by growth (the return of capital + interest)
There can be no growth without inexpensive energy
There can be no inexpensive energy if it’s scarce (or if the market believes it’s scarce)
There can be no capitalism without growth.
115,000,000 barrels per day
60.00 per barrel
6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000 6,900,000,000
That's just 31-days
That's March
Do that for 365 days
Now Facebook and Google are free to you because you are not the consumer
You are the product
And there is more money selling 'you' than there is selling oil
The people who buy 'you' are the people selling 'stuff'
We can transition capitalism from buying /selling oil
To buying/selling you
There's only one catch
You have to stop consuming oil
But keep consuming 'stuff'
Keep going with this
But let me add a few data points to integrate
First Point
Modern Monetary Theory (MMT) is based on the theory debt is unimportant at the sovereign level. It’s all about the velocity of money.
Last year it took around $5 of debt to buy $1 of GDP. This year it’ll be much worse. You can’t just give it away. You gotta spread it around and light it on fire hoping you get some growth. They’re gonna add $8-10 in debt and it’s uncertain they hit on gdp.
Second point
Price of oil has nothing to do with how much is in the ground. Oil is roughly drive by a 21-day supply window (not exactly, but it correlates nearly 100%). Basically, if there’s 18-days of supplies in the worlds supply chain, the price goes to infinity. If there’s 25-days of supply the price goes to zero (or less).
Supply is getting crushed. Cantarell field in Mexico is in terminal decline. Ghawar field in Saudi Arabia in decline. US shale was plummeting before. Now its dead.
So, demand had to be reduced. It was crushed by Covid. WTI went negative for a time.
Point Three
Everything’s a Ponzi scheme. Web 2.0 fails unless you accelerate the transition to online shopping. Everything online that’s free is because you are the product not the consumer. Facebook is selling ‘you’ to online merchants. It (Web 2.0) was growing too fast. Had to accelerate that transfer to maintain the value of ‘you’ to the people buying data. Covid accelerated that xfer by 20yrs.
Think about this.
The world was consuming around 115 million barrels of oil every day before Covid. But the money buying/selling ‘you’ was greater. Your data is only valuable if you consume. The internet economy only works if you consume. Online.
Sorry, not very coherent. 4:30 AM. Little drunk.
Keep going though. Everything is bullshit and Covid is the most bullshit thing ever.
Trump won. By a lot. Miss him every day
Also, it’s alleged that the nytimes story was run to alert the blackmailer that there was a sting operation in place to catch him receiving cash for his extortion
In other words, someone in the fbi who knew about the plan to snare the blackmailer leaked the story to the nytimes alerting him
If you know someone with Verizon, send this from your email to their phone using their mail-to-SMS automated gateway: (substitute their phone number for the one in the examples)
To: [email protected] Subject: Test 1 Message: https://patriots.win/p/12i3lHYZFg/
To: [email protected] Subject: Test 2 Message: https://othersite.com/p/12i3lHYZFg/
At the moment, in New York, only Test 2 will arrive to your friends phone.I have repeated this test dozens of times over several days. It started happening early November. I assume it has been continuous.
If you perform this test, please share the area code along with the time & location. I would like to determine if we have a class action.
I have been sending to area code 917 Queens, NY
Just to be clear: there are many ways to share content from this glorious site. The issue however, is that a multibillion dollar global communications company with headquarters in the US, operating under the oversight of the US Federal Communications Commission, US Federal Trade Commission, and the Public Utilities Commission and whose core business depends on the licensed use of public airwaves...
Is monitoring and censoring private communications between US citizens based on their political viewpoint.
Dude, everyone knows about the standard hotel. The question is the specific time reference and Jarrett. It’s common knowledge about Schiff raping a dead African American boy at the hotel. Only a myth so far without evidence. Your post implies evidence. Or maybe, you’re just learning about the myth?
Is this true? If so, I would love the source. What a great factotum!