Zephyr Global Report

La corruption de chaque gouvernement commence presque toujours par celle des principes.

The corruption of a government commences, almost always, with the decay of principals.

Les républiques finissent par le luxe; les monarchies, par la pauvreté.

Republics end in opulence, and monarchies end in poverty.

(Opulence equals Obama million dollar plus Limos, of which he has multiple, and Air Farce 1.)

Charles de Montesquieu

TGIF. I want to thank the Lord who by a series of miracles helped me keep this blog up while under IT assault all week. I humbly acknowledge his grace and help. There are many people who would like to silence my pen and wish me haste to the next world.

No use wasting time as the week is spent, and the English traders in London were just not at their desk at London’s opening and only drifted in for a while. There were some enormous payouts announced to the banksters of England and I suppose they were celebrating Lord Osborne gutting Granny’s Pension as well last night. Mr. and Mrs Goldsmith would do well to heed Montesquieu. The FT lead with an attack on Spain’s budget and economic woes this morning and London ran the CDS spreads , and 10 years up to 5.5 pc,  and they closed their trade out. England grows nothing and they produce nothing, so all they have is tourism , and piracy aka the City of London, or theft. Even Cameron says ‘we are a trading nation’ to the EU Parliament.

Gold as the ZGR mentioned yesterday loves economic weakness in a time of money printing. Ironic that Bernanke is holding a conference to peddle the notion QE is not inflationary today. The FED sent the hawks out before the housing data to talk up the FED’s inflation fighting bona fides, although the FED is inflation ,along with the POO (price of oil) which is highly manipulated up by London. The Feb. new housing data made the FED hawks look like fools or gold manipulating shills, especially as the Jan. data was revised downward. Despite a gold buyers strike in India the paper gold shorts were forced to a near 20 dollar retreat as gold surged to 1660+ on weak USE data.  Silver kept its head above $ 32. They may hit it in the thin after hours e-access but the ZGR will be put to bed. I suspect the Bernanke conference is really to determine how they can continue to print and smash gold.

In gold shares, Randgold and Iamgold, seemed to hit their bottom and the most naked shorted stock-thanks to the corrupt Canadian Markets, which Ferdi even admitted in 2006 were naked shorting the stock- GBG  lead the leader board in short covering as it rose to a lofty 70c! In the Jr share market, Gravity followed Egold and sold some very valuable property in the Newton’s Apple trend. They got a great price and 2 pc NSR. There was a bidding war between ARC and the main miner on that belt. Still Arc has a far superior land position to N in that trend. So we know why ARC raised the extra money. This selling of such great property by Egold and Gravity tells you Goldman and JPM and Barclays etc are squeezing the venture capital market for resource stocks for capital as well as naked shorting them to death. May the Lord Recompense the evil people like Blythe Masters from England who engage in this.

Bill Gross came out said the UST market was in a multi-year bear market. Of course with QEn who knows when that will become tradable? Obummer nominated Kim Jong Ill..er Jim Yong Kim to the WB CEO in a move to placate the BRICs who despite their ‘demands’ have not paid up in Gold and dollars to run the IMF/WB like the USA has. He thwarted three demanding Hebrews, Larry Summers whom the Hebrews in London say he is literally a “Prince’, Jeffery Sachs from ‘that’ Sachs family, and the fat-ugly Lesbian Rockefeller in-law ,Shillary. He is a medical Doctor. The WB has had a lot of reform since Stiglitz was there, it the IMF run by the French -Hebrew and Jacob Rothschilds protege Lagarde that has the power. More disappointing Earning previews hit the markets after the close yesterday. JPM came out and admitted it settled a fraud case for near $350 million with the large mutual fund AIM that was swept to the very, very back page of the NYT. I’m continually amazed Dimon and Blankfien, both Hebrews, are not in jail for mortgage gate along with the Hebrew Corzine.

In Europe we can be sure this Toulouse incident was all the focus and rage of the Hebrew community and took up all the attention of Europe in the press. I will provide more intelligence on this tonight the Lord willing. Sarkozy got a near 5 pc bounce in the polls and wants to jam the same police state they have in England upon the French. Clearly Sarkozy is as evil and as  mad as Cameron and Obama and must be thrown out office. Le Pen’s support fell the most in the polls. This was clearly an operation run by French Intelligence whom Sarkozy has stuffed with Hebrews , contacts tell me. Baroness Ashton of England is in deep trouble with her cousins for pointing out this was no different than Hebrews who shoot Palestinians in the head , in not such direct terms. Hebrew supremacism is so overt and distasteful and violent some of the French blogs  I read seemed to think this was long over due blow-back. None seemed to comprehend how cynical Sarkozy is, and how desperate the English Rothschilds are to keep him in power.

Some very corrupt Swiss -French currency trader  is actually suing JPM in London as they made a typo of on his contract and offered him 3.1 million a year as a base salary when they meant to offer him .31 million a  year. Actually he has a name common to the Swiss Hebrews. London appears very sympathetic to his case. These Hebrews know where to go to apply Talmudic law to their cases-London!!

I covered the world oil supply situation in depth last night. Anyone who believes the market is not very well supplied is simply conned by these many people like  ZH, who appeared to take the lead from London to attack APPL stock today. Actually Russia’s Ural blend is so similar to Iran’s biggest selling blend ,Iran could easily send that oil to Russia through traders, and  then it could be resold as Russian oil. Still contracts have to be hammered out. Iran is going to fight like made to retain its customers. That said the Sauds are drilling like England is going to wipe Iran off the map. In 24 more months they will have 5 MBPD capacity over the 10 MBPD they are pumping at ,  and will be at 14-15 MBPD. So it looks like the London powers plan to wipe Iran out, just not yet. 24 months from now.

I don’t know why people think they can lecture me about the petroleum market given the amount of seismic I shot, wells I logged and flow tested in the middle east and the number of professional journals and rags like PWI I subscribe to. I know where it all is in Iran, Iraq,Saudi, Libya, Egypt, Sudan and Somalia as that was ‘home base’ for a long time. Arabia has so much oil you giggle at the theft of 120 dollar Brent and how the masses are conned into thinking oil is scarce with this peak oil nonsense. BP is gouging the world for with their corner in London that is it pure , plain and simple.When even the Presidents of XOM/RDS/CVX say oil should be at 70 a barrel you people should learn to shut up and listen to your betters and not the peak oil horror-core clowns.

Come back when you get you PHD in Petroleum engineering and have worked 10 major basins in the middle east. Oil right now is about redirecting tanker fleets and finding capacity for the Arabs sour and relatively lousy oil. Just like the Americans in the Bakkens are jammed up and cant get to global market and refineries, so the Sauds oil is a bit jammed up as they look for tankers and refiners. Tanker and refiner supply contracts take a long time to negotiate. I’m really, really sick of these peak oil bulls. Professionals look at you people either as clowns or evil ZH/Goldman Sachs/BP shills. 99 pc of all people would do better to invest in technology than natural resources. People promoting peak oil are doing Prince Charles and Al Gores dirty work and helping BP with their corner. BP is a hedge fund not an oil company. There job is to set the world oil price with the banksters. Please spare me your BS that Americans through Europe under the Bus. Cameron leads the war madness and impose the global sanctions. Europeans screwed themselves but not having the engineering horse power like we Americans to refine sour oil efficiently. Actually Europeans tossed Americans under the Bus as Cameron, Sarkozy and Berlusconi, the three Hebrews murdered their  kin Qaddaffi. The Libya war was a Hebrew civil war. Anyone whose worked in Libya knows Qaddfi had a Sephardi-Italian father and Libyan Sephardi mother. It was the Arab joke of North Africa 40 years ago. Americans had ZERO oil interest in Libya and Al Qaddafi was deep in bed with Prince Andrew and Nate Rothschilds and BP, and Sarkozy and Total and ENI and Berlusconi. Al Qaddafi ‘taxed’ the USA multinationals out of business around 4 years ago to move their fields to England to replace the declining North Sea. Europeans ‘royally’ screwed and blamed Americans for their mess in Libya and tossed Americans under the buss like they did in WW1 and WW2. Even AEP admits his father ran Libya for the Crown. Qaddafi is a Sandhurst boy. He was a made man by his Hebrew Kin in England. MI6 wrote his sons PHD thesis  at the LSE!  Can  I make it any clearer? Let me know what you don’t understand about oil and the politics thereof!

Here are today’s scores. USA prices are around at  1600 EST.

Asia

Nikkei 225

10,011 -116 -1.14%
Hang Seng

20,669 -233 -1.11%
Shanghai

2,461 -27 -1.10%
S&P ASX

4,361 -4 -0.10%

Sensex

17,362 +165 +0.96%

Europe

FTSE 100

5,855 +9 +0.16%
CAC 40

3,476 +4 +0.11%
DAX

6,996 +14 +0.21%
FTSE MIB

16,485 +35 +0.21%

IBEX 35 IDX

8,282 -72 -0.86%

USA

Dow

13,082 +35 +0.27%
Nasdaq

3,062 -1 -0.05%
S&P 500

1,396 +4 +0.26%
GlobalDow

2,001 +1 +0.06%
Gold

1,664 +22 +1.31%

Oil

107.08 +1.73 +1.64%
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10 Responses to Zephyr Global Report

  1. vino says:

    the rest of the article agrees with your assessment of the oil supply situation..But bernanke looks to have already begun his march from the federal reserve. He has made the cover of the Atlantis is it with HERO embellished in big bold letters beside his image.. I suspect the new appointee from the military industrial complex to the federal reserve board aka the carlyle guy is in the process of cleaning up house as the money print bernanke has initiated is going to destroy america unless it is stopped… Note how evidence of corzines lying about transferring $200 million or whatever to JPM has surfaced in the media as well. A purge is going on behind the curtains and bernanke looks to be victim numero one…Oh sure he’ll go out a hero … what else are they going to say he destroyed america with his crazy delusions about money printing being the be all and end all and the very only solution to dealing with depressions.. No.No Bernanke has to go but the the rest of the elite don’t want to be sucked down with him… so a hero he will be just like the psychopath who preceded him as head of the federal reserve..

    We don’t know exactly how much fiat the Fed has printed and won’t know until a full and comprehensive audit is done but that the amount is at the very least in the tens of trillions

    http://www.alt-market.com/articles/650-the-oil-conundrum-explained

    We all understand that the Federal Reserve has been engaged in non-stop quantitative easing measures in one form or another since 2008. We don’t know exactly how much fiat the Fed has printed in that time, and won’t know until a full and comprehensive audit is finally enacted, but we do know that the amount is at the very least in the tens of trillions (be sure to check out page 131 of the GAO report below to find their breakdown of Fed QE activities. This is just the money printing that has been ADMITTED TO, in excess of $16 trillion):

    http://www.gao.gov/assets/330/321506.pdf

    The dollar is being thoroughly squashed. Why is this not showing in the dollar forex index? The dollar index is yet another example of a useless market indicator, being that it measures dollar value relative to a basket of world fiat currencies, ALL of which also happen to be in decline. That is to say, the dollar appears to be vibrant, as long as you compare it to similarly worthless paper currencies that are being degraded in tandem with the greenback. Once you begin to compare the dollar to commodities, however, it soon shows its inherent weakness.

    The dollar’s only saving grace has long been its status as the world reserve currency and its use as the primary trade mechanism for oil. This, however, is changing.

    Bilateral trade agreements between China, Russia, Japan, India, and other countries, especially those within the ASEAN trading bloc, are slowly but surely removing the dollar from the game as these nations begin to replace trade using other currencies, including the Yuan. I believe commodities, especially oil, have been reflecting this trend for quite some time. The consequences of the dollar’s ties to oil are detrimental to all nations that consume petroleum, and they are clearly moving to insulate themselves from further devaluation.

    Even after the release of strategic oil reserves back in the summer of 2011 in an effort to dilute prices, and the announcement of an even larger possible release of reserves this month, oil has not strayed far from the $100 per barrel mark. High Brent crude price have held for years, even after numerous promises from government and media entities admonishing what they called “speculation”, and promises of a return to lower energy costs. Not long ago, $100 per barrel oil was an outlandish premise. Today, it is commonplace, and some even consider it “affordable” compared to what we may be facing in the near future, all thanks to the steady deconstruction of the last pillar of the U.S. economy; the dollar, and its world reserve label.

    Ultimately, no matter how manipulated and overindulged the stock market becomes, no matter how many fiat dollars are injected to prop up our failing system, the price of oil is the great game changer. As inflation is reflected in its price, and energy costs burn out of control, the Dow will begin to fall, regardless of any low volume or quantitative easing. In all likelihood, this conundrum will be blamed on as many scapegoats as are available at the moment, including Iran, or China, or Russia, or Japan, etc. Each and every American, and especially those involved in tracking the economy, will have to remind themselves and the public that at bottom, it was the Federal Reserve that created the conditions by which we suffer, including currency devaluation and high oil prices, NOT some foreign enemy.

  2. arthurburns says:

    I worked that basin extensively in both north dakota and alberta. the usa invented the technology you Canadians were gifted with-so you’re welcome. we can always invade Canada the water and oil resources make for great barter with the chines. the usa has plenty of gold reserves in the ground and oil reserves to back its currency. the usa has the lowest oil royalties in the world . the usa fiscal situation will only be fatal if obummer gets a 2nd term. After ww2 we had a debt /gdp of 120 pc. you’re smoking david rockefellers crack pipe if you believe the con of 70 trillion in unfunded SS liabilities. the dollar fast crashed in the 70s usts were going for 50c/dollar. the oil markets boomed and i was there and in your fair country teaching your people how to work and drill. the dollar is slow crashing. you should look at canada m3 sometime it is not like what rightfully belongs to native americans is much better in the great white north. you’re beginning to sound like AEP. bob chapman you mean the bob chapman that said gold was going to 3300 dollar right ahead of the smack down from 1900. yeah thats another good source. i have a good source for UST action and it is not anywhere close to what bob claims although it may get there if obama gets a 2nd term.

  3. arthurburns says:

    i have no idea what they are going to do.

    we do know the blacks in africa have his real birth certificate and are going to take him down if he tries to go after the new oil strikes in uganda, ghana, etc for the BP gang with Africom.

    he is backing off on iran and russia but yeah POO and POG are the ultimate weapons, POG being the inverse of buying USTs. Dumping UST is the ultimate WMD.

    hard to say with romney. we might get the mormon mafia not the neocons, although if mittens has to take jeb bush, it will be as you describe.

    we do know the ptb are very happy with obama in england and dont want romney simply as they have no dirt on him hes not CFR, trilateralist and mormons tend to be nationalist and not want to destroy the usa,.

    obama was groomed for a long time to be this commie world dictator and destroy the USA and put us into ww3, which i dont see happening until 2015, when they have enough oil capacity to nuke iran. hopefully by then iran will have improved its defenses.

    persians produce a lot of brilliant phd and with high performance computing available to anyone, that is the great equalizer. you cant design anything without massive computing powers. the problems for the mullahs is if a person is bright enough to get a PHD in engineering they leave iran. bright people just don’t like religious fanatics.

    last time i voted for ralph nader, this time as ron paul seemed to put some effort in i will write in him although i m no big ron paul fan.

    jimmy carter taught me my lesson of compromising. now he did do a good job of holding kissinger off but rockefeller was too powerful and stuffed his administration with southern masons and carter appointed the hebrew-rockefeller best freind, paul volcker to the fed with his 20 pc interest rates and near 10 pc real interest rate which started to deindustrialize the usa. volcker kept me working overseas for a decade until the economy recovered from his madness.

    i thought reagan like all republicans since big Abe would run the debt cards up. i don’t know why people like that guy. he was a horrid president. i guess he could act well ? he allowed bush sr to essentially put in the police state and rockefeller jr bill clinton finished off what pappy started.

    z is an academic. that is the ultimate place to learn politics so he probably has far better insights than me.

    i had a friends kid finish has phd at 21 in engineering, which is very very young. even though he was world class, he simply could not take the politics at the universit. some people love that machiavelli/disiraeli game of the university.

    most all of this nwo intellectual outline comes from cambridge and oxford then it is sent down stream to harvard/yale/princeton/darthmouth/duke /stanford. the english bought faculty at UCB off by ‘donating’ 500 million as it was a holdout school.

    imo the ‘real’ sharks are at the universities. keynes after all was an academic as was darwin, bertrand russell.

    we need a home schooling program to get a phd away from the madness of the cambridge and oxford diseases of politcally correctness and central bank and communist madness that has inflicted our modern universities.

    i could not get out of grad school fast enough to get away from the ivory tower people, although it took me a couple more years than my friends kid. school was harder back then to. you have to know about 1/3 of what you do know to pass your orals in engineering or physics. i was really impressed with how rigorous the education was in the hard sciences back then.

    you cant teach darwin, keynes, russell, dewey, without a lot of deliberate dumbing down and putting up stooges like larry summers to run harvard.

    every time i have to go out to UC or Sir Allens school, i think ‘what a bunch of stupid !%@s’. look at sir allens school -donnie rumsfeld is professor emeritous and it gave us Commie Rice.

  4. vino says:

    prozac for the american gas guzzlers.. the iranians may be kicking our butts on the gasoline prices now but tomorrow weeze going to have so much energy.. Don’t worry the worlds greatest super power is not getting its ass kicked because the israeli firsters and their neocon marionettes led us into imperial over reach with their iranian sanctions…. Don’t worry if we slowly back off we won’t force the chinese to end the $$$s role as the world reserve currency… don’t worry when we print tonnes and tonnes of money and loan it to the banks so they can buy up the treasuries …. that is not quantitative easing… That about 70% of treasuries according to chapman are being bought by the fed in one way or another. That is both new treasuries and roll over treasuries… Not too many nations have a trade surplus nowadays so how are these very few countries recycling their money into US treasures. This is especially so as china is not buying them… Have some prozac and dream of the great energy growth to take place in america after the economic collapse huh?

    http://business.financialpost.com/2012/03/23/why-north-america-is-the-new-middle-east-citibank/?__lsa=0eb76e25

    Why North America is the new Middle East: Citibank
    Yadullah Hussain Mar 23, 2012 – 4:17 PM ET

    Matthew Staver/Bloomberg
    An oil drilling rig stands on the Bakken formation in Watford City, North Dakota, U.S., on Wednesday, Oct. 12, 2011. The productive Bakken formation stretches from South Dakota into Canada’s province of Saskatchewan.
    Comments Email Twitter
    inShare
    1
    Canadian, U.S. and Mexican oil and gas production is set to add a staggering 11 million barrels per day over the next 10 years, transforming the continent into an energy powerhouse.

    In fact, the United States alone is on course to become the largest liquid producer in the world and looks almost certain to overtake Russia and Saudi Arabia before the decade is over, writes Ed Morse, Managing Director and the Head of Global Commodities Research at Citibank, in a note to clients.

    The North American crude oil and natural gas liquids base appears to have the potential to nearly double from 15.4 million bpd in 2011 to almost 27 million bpd by 2020, says the U.S. bank, as oil sands and shale oil and production ramps up.

  5. Arb says:

    Oh, and if empty-suit Romster wins?
    Look for half his senior admin to be former shrub Zs and neocons.

  6. Arb says:

    Thanks for valuable and civil discourse on poo.
    Obummer will need to do more than perp walk the other Don and blnk.
    He will need a Rico case v goldie and jam.
    We know the odds os that, can you spell j hinckley.

    Question fir both.
    Will different factions in the powerz use oil and gold to unseat the dark king from his thrown.
    The bush team knows a bit about poo, and a $5 price tag for gas could do it on the second Tuesday after the first Monday. So will rising unemployment as SM Bz is forced to cutback amid a drastic drop in consumer spending as gas eats up discretionary inc.
    Gold.
    Any country favoring Romney is incented to add the metal to cb reserves confident of it’s value. There are many, some with big cbs, nearly all w ability to print or sell USTs to pay.
    Best cover for the king to higher poo, gold and unemp is a war with Iran, maybe Syria IF they can contain it and no other country seconds Syria.

  7. zephyrglobalreport.com says:

    the oil markets were no more ‘tight’ in 2007 than they are now. in 2007 goldman squeezed a major hedger into bankruptcy and we got 150 oil. then oil collapsed to 35. what you tell me all this war talk gets no premium from Goldman and BP? give me a break as bill clinton says-look at the chart and what oil was at 80 dollars before this war talk started and china was moving a lost faster then. why would saudi pump anymore they cant sell it to anyone but the usa quickly as we are the only ones with sour refinery capacity at least until sauds mega refinery cranks up. it will take the Germans a good six months to retrofit their refineries to handle sour, and its closer to a year, ditto with the italians who will probably scour for sweet crude due to the cost to retrofit a refinery for sour oil. i’m not missing the big picture. iran is using oil as a weapon to retaliate against financial sanctions. they cut europe off, not vice versa. ha, ha the oil industry is a like super tanker, it takes forever to get up to speed, but look out when it does and if you ask it to turn on dime and reallocate production quickly, it cant. obama has no oil guys on his team. what he let CAMERON push him into was political suicide, now he kicks back , and after all he is english and they do want him to have a 2nd term as he exceeds even sir brian harper in licking the crowns arse. but thanks for the update. have a good weekend. yeah those fifty saudi rig are putting on line water wells, ha ha. i’ve been on a rig in Saudi, have you ever? ha, ha. tell me more professor.

  8. vino says:

    headline obama blames iran for high gasoline prices… headline lack of saudi spare capacity allows the iranians to humiliate europe israel and america into conceding iranian nuke threat is far off… It doesn’t take brain surgeon to realize that america stepped out on a ledge with its big iranian sanction campaign in both oil and with swift only to realize that it had shot itself in the foot… Imperial over reach has forced the worlds only super power to back down… This saudi 2.5 million barrels of spare oil capacity story is not even half as good as the one cameron floated about pumping oil from britains all but nonexistent strategic reserve….It was meant to staunch the growing anger of the american gas guzzler ..you’ve lost your perspective.. there is a bigger game going on here… The cushion of cheap oil and gasoline provided by futures contracts bought at closer to $80 a barrel is rapidly receding and reality of higher oil prices is busting through the veil of illusions …. and you can bet america scorfed up 100k barrels per day of the saudis best.. sour crude indeed..

    http://news.antiwar.com/2012/03/23/the-us-europe-israel-agree-on-solid-intel-iran-nuke-threat-far-off/

    US, Europe, Israel Agree On Solid Intel: Iran Nuke Threat Far Off
    Solid, in depth intelligence confirms with high confidence Iran has no weapons program, but peace is still rejected
    by John Glaser, March 23, 2012
    | Print This | Share This | Antiwar Forum
    The United States, European allies, and Israel all agree that Iran does not have a nuclear weapon, has not decided to build one, and is several years away from having a deliverable nuclear missile. Still, aggressive postures towards Tehran continue.

    In 2007, the U.S. intelligence community concluded that Iran had halted weaponization of its nuclear program back in 2003 and has not restarted it since. That conclusion has been repeatedly reaffirmed in recent years, but some further details of the secret intelligence have been released.

    According to Reuters, U.S. intelligence intercepted telephone and email communications from late 2006 or early 2007 in which Mohsen Fakhrizadeh, a leading figure in Iran’s nuclear program, and other scientists complained that the weaponization program had been stopped. This was one piece of the puzzle that led to the 2007 finding.

    According to reports, the U.S. has “significantly ramped-up American covert sabotage and non-proliferation campaign” inside Iran. Apparently “the CIA’s ops arm, the National Clandestine Service, along with the U.S. military” are “scrutinizing and seizing cargo shipments bound for Iran, tapping the black market for nuclear supplies and buying up spare parts, and maximizing the collection of Iranian signal traffic.” This has increased U.S. confidence in their assessments.

    One primary type of intelligence the U.S. has on Iran’s nuclear program is what is called “measurement and signature intelligence,” or MASINT. These are “sensors on satellites, drones, and on the ground” measuring “everything from the electromagnetic signatures created by testing conventional missile systems to disturbances in the soil and geography around a hidden nuclear facility to streams of radioactive particles that are byproducts of the uranium enrichment process.” The U.S. “knows what Iran has and doesn’t have,” writes journalist Marc Ambinder.

    These and other forms of intelligence have made current and former U.S. officials highly confident that Iran has no secret uranium-enrichment site outside the purview of U.N. nuclear inspections. While it was given hyperbolic treatment in the media, the IAEA’s November report helped confirm this in reporting that “the Agency continues to verify the non-diversion of [Iran's] declared nuclear material.”

    Hawks, mainly in the U.S. and Israel, have argued for waging preventive war on Iran in a unilateral attack aimed at crippling Iran’s legal civilian nuclear program before it can make it immune from bombing by building facilities underground and making the program sufficiently redundant throughout the country.

    But here again, U.S. intelligence has held that they would detect any move by Iran to restart weaponization activities. There is simply no evidence for a nuclear program and no sensible reason, or legal justification, to attack if a nuclear weapons program is the pretext.

    There are perfectly viable alternatives to sanctions, aggression, and war. If Israel, for example, agreed to sign the Nuclear Non-Proliferation Treaty and open up its nuclear program to international inspections, as Iran has, the tension would probably dissipate. Further, if Israel agreed to give up its vast stockpiles of nuclear weapons and to imposing a nuclear weapons free zone in the Middle East – a deal Iran has repeatedly proposed – the tensions would surely vanish, along with the pretext for war. But this remains out of the question for Tel Aviv and Washington.

  9. zephyrglobalreport.com says:

    you don’t listen and are not qualified to comment. saudi built their own 1 mbpd refinery or rather americans did for them and its about six more months from coming on line. oil is cornered by bp in london. i used to get to the bp office in london quite a bit , i know exactly what goes on there. some academic like you cant move me with your hyperbole. you don’t know squat about oil. in canada i have news for you bub, americans run it all up there we are the managers at your large firms. the usa is scarfing up 100k bpd of the sour saudi crude as we speak. the bakken is flowing. as i used to tell my professors when they got upset i had no interest in teaching and research in the university post doc, ‘those that can do, and those that can’t teach’. now teachers are important but not all of us can tolerate idiot and politics and pseudo truths like you academics. no doubt they are going to run oil up to 150 again, charlie rose told us that 18 months ago that rockefeller had green lighted 5/gas. ha, ha, you know more than the presidents of xom, cvx and shell usa who said oil should be around 70 a barrel right now. so the europeans are foa and like that light sweet african crude we have that in the bakken, let them come and sign 10 year supply contracts since EUROPE screwed libya up. although i admit berlusconi was very opposed to england and france murdering his good friend. after all he and the colonel were fellow italian-sephardis. if not for berlusconis sex problems he might have stopped that war. libya and italy go back 2200 years. england and france have no business there. dont’ get caught in oil brother when the bp corner fails. i had corporate training at our hedging and trading desk as part of my management training. come back when you have traded as many contracts as I have. you’re starting to annoy me. be nice and shutup and listen to your betters unless you can tell me something i dont know. people who can tell me something i dont know really, really impress me. ha, ha, saudi arabia is swimming with oil and are building a massive downstream to unlock the sour oil jam. its just about on line. I used to negotiate with the German refiners, and they cant handle squat. you have to deliver the best and sweetest oil to the germans or they dont buy except at a price you dont want to sell at. brent and wti are both high api and sweet although WTI is very sweet oil. brents just barely makes it as sweet oil. God bless, shut up and have a good weekend.

  10. vino says:

    The iranians finally shot back and took a lot of the 300,000 barrels steam out of your argument this morning huh?… Oil went up $3 per barrel on the iranian smack back…so how come the 2.5 million barrels of spare capacity the saudis have hasn’t driven the oil price the other way? Sour oil… How many refineries in the world are capable of handling that? Nobody would buy that stinking sour saudi crude whilst the libyan cutbacks were at its heights. This time there is no big whack of cheap oil bought in the futures market rescuing the world economy from the madness

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