Wednesday, January 13, 2021

For The Archives -- Peter Schiff Archives -- Oil Moving Higher -- January 13 ,2021

Link here. For the archives. I'm not sure Peter Schiff understands unconventional oil. That's fine. I don't understand Peter Schiff.

OPEC basket price:

A Musical Interlude

I never cared for Simon and Garfunkel. I like this song but never S&G. I never thought to check if someone else sang it ... and then I found this ...

Yma Sumac

And the connecting link? Savage Rose:

Savage Rose

Notes From All Over

Wow, I'm in a good mood. I just connected several dots. The Great Lebowski and the trampoline scene and Yma Sumac and Ataypura. It's so much more fun connecting dots this way than the way I learned to do it in high school. LOL. 

And then this, an Apple commercial and Yma Sumac.

I may just stay up all night. The evening is absolutely wonderful for star gazing. Moderate temperature -- cool, but not cold and no wind, not even a breeze. Very comfortable and not a cloud in the all day and none tonight. I saw Orion for the first in a long time tonight. I spotted Mars right away. I think I saw Sirius. 

I did a few Spanish lessons with Sophia tonight on Duolingo. Wow, she is picking it up very, very nicely. Since we started a few months ago, we haven't miss one day -- at least one lesson every day. I forgot to note, but I think we have 114 days in a row without missing a day. If we are not together, Sophia can log in with her sister and catch a lesson. 

Politics: I avoid for the most part (although some readers have told me I write too much about politics. Whatever). It's important that some politics is covered for the archives; to put things in perspective.

Sports. I think I can go back to NFL and college football. I have no desire to watch basketball any more except maybe high school basketball. I'm not even watching PGA golf any more. NASCAR? Eager to see the season get going again. 

The market? I find it absolutely fascinating. 

Weather? As noted above. So far we've had no winter here in north Texas. Hope it stays that way.

PSA: if something doesn't download "correctly" try switching browsers. I use Firefox 90% of the time; Apple's Safari 8% of the time; and Alphabet's Chrome 2% of the time. Sometimes something won't download on Fox but will show up on Safari. I never touch Microsoft. 

And Before We Leave ... One More

Savage Rose

Gone, Daddy, Gone, Gnarls Barkley


  1. Not sure what Peter is thinking. Is he losing it? We hit $100 in 2008-9 and were importing 9-10MM bopd then. Later we hit $100 from about 2011-2014 and were importing 10 MM bopd, declining to 8 MM bopd.

    Right now we are only importing 5-6 MM bopd. And then if price goes to $100, obviously US supply would take off and cut that, given any reasonable response time (and the market will anticipate that).

    See here:

    P.s. Note that the situation is even less dire if you look at "total liquids" (e.g. counting propane as "oil"), where we are currently a slight net exporter. But even if you just look at C&C, the situation is the opposite of what Schiff says.

    1. Thank you for providing perspective. I normally don't post "Peter-Schiff-like" tweets on the blog, but in this case, things are moving quickly and this might be interesting for the archives, looking back four years from now.