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has the US still enough friends left to deflate the oil price at will , in the coming year
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From IEA data, the only significant spare oil production capacity exists in:
Saudi Arabia = 3.19 million barrels per day
UAE = 0.96 mmbpd
Iraq = 0.48 mmbpd
Kuwait = 0.28 mmbpd
Nigeria = 0.23 mmbpd
Anything outside that group is individually and collectively minor.
over9k
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Hence why saudi decisions are so significantFrom IEA data, the only significant spare oil production capacity exists in:
Saudi Arabia = 3.19 million barrels per day
UAE = 0.96 mmbpd
Iraq = 0.48 mmbpd
Kuwait = 0.28 mmbpd
Nigeria = 0.23 mmbpd
Anything outside that group is individually and collectively minor.
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And why China is trying to get them to join the BRICS.
Knobby22
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Getting off point: if the USA stop supporting Ukraine then that will prove to many countries that they are an unreliable ally which will greatly benefit China (and Russia) to get many BRICS members including Pacific nations.
Dona Ferentes
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and ...., that may be proven to be outdated, with what's going down in Israel right now
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Sorry I thought we were talking about inflation and the affect of oil and impact the Saudis had on it, my mistake, I think.
The RBA has issued a stark warning about the number of Australians at risk of financial despair in the months ahead, with a spike in homeowners falling behind on mortgage repayments.
Skyrocketing interest rates and the cost-of-living crisis have decimated household budgets over the past 18 months, seeing many forced to deplete their savings to get by.
An estimated six million Australians have a mortgage on their homes. If three quarters are on a variable rate, and five per cent have expenses exceeding their income, that equates to a staggering 225,000 people.
Skyrocketing interest rates and the cost-of-living crisis have decimated household budgets over the past 18 months, seeing many forced to deplete their savings to get by.
An estimated six million Australians have a mortgage on their homes. If three quarters are on a variable rate, and five per cent have expenses exceeding their income, that equates to a staggering 225,000 people.
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like carbon dioxide all interconnected are very important to some
very cheap energy takes the sting out of inflation ( some of the compounding factor )
instability in the Middle East while not completely catastrophic seriously impacts oil/gas distribution
although if Russia builds pipelines to India and China ( and their refineries) that might solve the shipping lanes issue ( South America has the potential to be self-sufficient in fossil fuels )
the Saudis are important while they have a stable regime , for example Iran and Iraq could probably fill the gap if working together ( and their plant modernized ) and you have a currently dysfunctional Libya which might become sovereign again
HOWEVER there is an agenda to banish the use of fossil fuels , and withered nuclear power market the only real hope of replacing fossil fuels ( in the near/mid term )
this is a totally orchestrated and planned disaster
over9k
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HAMAS attacks have bounced oil about 4%. All other markets/futures are in the red. Will be interesting to see how long this bounce takes to melt.
over9k
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gas has mooned too
over9k
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Meanwhile:
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They probably could but it's a bit like saying Brisbane and Adelaide could between them absorb the population of Sydney.
They could but if they did it within 20 years most would consider that pretty impressive.
Any replacement for Saudi oil won't happen quickly.
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extremely impressive i lived mostly in the 'greater Brisbane area until late April
took them over 100 years to build a rail line between Petrie and Redcliffe
Fewer than one-third of predicted passengers use new Redcliffe rail
Despite predictions of 21,000 train passengers a day, only 6451 passengers a day are using the $1.2 billion Redcliffe rail line.
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Redcliffe Peninsula rail line opened
Redcliffe Peninsula rail line opened
On October 3, Australia’s PM Malcolm Turnbull has officially opened Redcliffe Peninsula rail line, Moreton Bay’s biggest public infrastructure. The [...]
www.railwaypro.com
The Redcliffe Peninsula Line is a 12.6 km dual-track passenger rail line between Petrie and Kippa-Ring, including 6 rail stations at Kallangur, Murrumba Downs, Mango Hill, Mango Hill East, Rothwell and Kippa-Ring.
“The new rail line will deliver more than 650 train services a week between Kippa-Ring and Brisbane, with trains running every six to 12 minutes in morning and afternoon peaks, and every 30 minutes in off-peak periods and during weekends,” Turnbull said.
over 100 years in the making , not enough trains , not enough drivers , not enough passengers etc etc
we couldn't even organize a tent city for half of Sydney in 20 years
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oh and they would have to walk or use those tiny electric scooters there isn't even enough bike paths/lanes
over9k
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RBA's kent now talking about possible further tightening. Also observes that mortgage payments are now at a record percentage of household income.
Dona Ferentes
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mean while
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yes and plenty of dangers to come
disruption of shipping , to workforce , international payment systems , disruption by political decree ( sanctions, export bans etc etc )
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