OMGoodness

 

Oil prices are surging toward $100 a barrel. Here's what that means for you

(As usual, my comments are below the article excerpts in parenthesis) 

"Russia is one of the world's largest producers of oil and natural gas, accounting for 17% of the world's natural gas and 12% of its oil."

"The Biden administration, which is worried about high energy prices, so far has seemed reluctant to directly target Russia's energy exports, a move some foreign policy commentators have called for despite the potentially profound global impacts.

But other sanctions, like financial sanctions, could indirectly reduce Russian oil and gas sales. Russia could also throttle energy exports in retaliation for sanctions.

Any of these outcomes would take supply off the market, while also fueling greater uncertainty, which also tends to elevate prices."

"Meanwhile, publicly owned companies have been under pressure from their shareholders to deliver returns, rather than pump as much oil as possible.

And companies have done just that, meaning supply has been smaller than many observers would otherwise expect."

"The biggest burden would fall on lower-income families, since they spend a larger percentage of their household budget on gasoline."

(Revelation 6:6: And I heard what sounded like a voice from among the four living creatures, saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius, and do not harm the oil and wine.”  Means the rich get richer and the poor get poorer basically. Usually I reference this with low wages or not paying people what their labor is worth but inflation has the same exact effect as lower wages, decreased purchasing power.)

"Meanwhile, rising natural gas prices could raise electricity and home heating bills. The increasing costs for transportation, power and heat would all contribute to inflation, which is already at its highest rate in 40 years in the U.S, though there is debate about how long the impact would be."

(Like I said this AM, the FED can't even tell you what is driving inflation and they gonna be the ones to fix it? Maybe there was a reason for all that insider trading among  FED members.)

"The U.S. and other countries have been discussing alternative sources of natural gas and oil to compensate for a Russian shortfall, but it's not clear how much could be made available to Europe, given the tight global market."

(Not much)

A partial list of products made from Petroleum (144 of 6000 items)

One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like:

Solvents Diesel fuel Motor Oil Bearing Grease

Ink Floor Wax Ballpoint Pens Football Cleats

Upholstery Sweaters Boats Insecticides

Bicycle Tires Sports Car Bodies Nail Polish Fishing lures

Dresses Tires Golf Bags Perfumes

Cassettes Dishwasher parts Tool Boxes Shoe Polish

Motorcycle Helmet Caulking Petroleum Jelly Transparent Tape

CD Player Faucet Washers Antiseptics Clothesline

Curtains Food Preservatives Basketballs Soap

Vitamin Capsules Antihistamines Purses Shoes

Dashboards Cortisone Deodorant Shoelace Aglets

Putty Dyes Panty Hose Refrigerant

Percolators Life Jackets Rubbing Alcohol Linings

Skis TV Cabinets Shag Rugs Electrician’s Tape

Tool Racks Car Battery Cases Epoxy Paint

Mops Slacks Insect Repellent Oil Filters

Umbrellas Yarn Fertilizers Hair Coloring

Roofing Toilet Seats Fishing Rods Lipstick

Denture Adhesive Linoleum Ice Cube Trays Synthetic Rubber

Speakers Plastic Wood Electric Blankets Glycerin

Tennis Rackets Rubber Cement Fishing Boots Dice

Nylon Rope Candles Trash Bags House Paint

Water Pipes Hand Lotion Roller Skates Surf Boards

Shampoo Wheels Paint Rollers Shower Curtains

Guitar Strings Luggage Aspirin Safety Glasses

Antifreeze Football Helmets Awnings Eyeglasses

Clothes Toothbrushes Ice Chests Footballs

Combs CD’s & DVD’s Paint Brushes Detergents

Vaporizers Balloons Sun Glasses Tents

Heart Valves Crayons Parachutes Telephones

Enamel Pillows Dishes Cameras

Anesthetics Artificial Turf Artificial limbs Bandages

Dentures Model Cars Folding Doors Hair Curlers

Cold cream Movie film Soft Contact lenses Drinking Cups

Fan Belts Car Enamel Shaving Cream Ammonia

Refrigerators Golf Balls Toothpaste Gasoline

Not even there yet and everybody is flipping out already...

Romans 10:9-10

If you declare with your mouth, “Jesus is Lord,” and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you profess your faith and are saved.

Well looky here:

TUESDAY, MAY 5, 2020

Very

"So the prices on everything are basically gonna go through the roof.here before much longer.

Add in 30+ million unemployed

and tariffs on goods from China,

some rampant

inflation from the central banks printing to much money

(because they will before switching over to cryptocurrencies)

Throw in a some war here and there:"

Maybe somebody was in the library for a reason? Maybe?