Finally, the market is dropping -- I've been waiting for a buying opportunity and it looks like we're going to get it. Maybe the Dow (irrelevant) will fall another 150 points before the day is over. And since it's not Friday, we have all day tomorrow to think this through. Wow, what a great country.
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But that's not the real reason I'm in such a good mood. I'm in a great mood because it finally dawned on me that everyone is blaming the wrong "person" for hiding "spare capacity." LOL.
This is where the real problem lies, right down the line:
- landlocked Canada: Trudeau, Sir Saint Obama, Soros, Steyer, faux environmentalists have killed, deferred, delayed four pipelines that would have brought millions of bopd to the market -- and it was the "right" kind of oil (Northern Gateway, Keystone XL, Trans Mountain Expansion, Line 3)
- GoM: Sir Saint Obama pretty much slowed things down in the GoM
- US offshore, "the Florida syndrome": Florida, California, Virginia, North Carolina
- France: has banned fracking "forever"
- Venezuela: Bernie Sanders' socialism
- sanctions on Iran: I support the sanctions but the US can't blame OPEC for production shortages when the US bans oil from a major OPEC producer
- sanctions on Russia: ditto
- California: the left stymies domestic oil production
- Colorado activists trying to do the same in Colorado
- Brazil: Florida syndrome
- Mexico: see Venezuela