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Previously: After Flying to Saudi to Beg Them for Oil, Boris Johnson is Denied His Request
What we need here is more windmills.
To heck with the birds.
We need a very strong source of energy immediately, and the only solution is to cover the entire United States with windmills.
Every time you look at these windmills and want to kill yourself because they are so ugly, remember that you’re sticking it to Putin.
As Boris Johnson flew to the Gulf this week to ask for more oil to replace supplies from Russia, he was accused by the Labour leader, Keir Starmer, of “going cap in hand from dictator to dictator”.
At the same time, a report produced by the International Energy Agency (IEA) underlined just how limited the options are for any economy seeking to replace Russian crude and other oil products.
It says global oil demand is projected to be nearly 100m barrels per day (bpd) this year, lower than previously forecast because of the shock to global growth caused by the war in Ukraine. Russia produces about 10m bpd and exports about half of that plus about 3m bpd of oil products. It is unclear, however, how much of that supply might now be at stake.
The IEA thinks that at least 1.5m bpd of oil and 1m bpd of oil products are likely to be lost from Russia, from April until at least the end of the year, as buyers either reject supplies voluntarily or do so to avoid breaching sanctions. It says: “These losses could deepen should bans or public censure accelerate.”
“In reality, no one country can plug the hole that Russia would leave in the market in the event of a global ban,” says Sophie Udubasceanu, global crude oil expert at energy market analysts ICIS. So where can the world try to source anything up to 5m extra barrels of oil a day?
The IEA reckons Iran has about 1.2m bpd of spare capacity in theory but there are some serious caveats. The first is the need for sanctions to be lifted, via a resolution in talks between Tehran and western economies about reviving the 2015 deal on Iran’s nuclear ambitions. Even then, the IEA says, it is likely to take another six months at least before 1m bpd from Iran could be factored in.
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Like Iran, Venezuela remains subject to US sanctions that would have to be lifted if its production was to increase. A return to 2015 output would mean an extra 1.8m bpd eventually but that would trickle through very gradually.
“A few hundred-thousand barrels would be the initial impact with a continued recovery likely to take years and billions of dollars of new investments,” says Hansen.
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Nigeria is still 0.4m bpd below its 2019 peak output, says Hansen. Restoring that level would require investment from major oil companies and greater political stability. The IEA also cites Canada and Argentina as potential contributors via their own US-style shale resources, but nothing that would move the needle. It does not even mention the North Sea in its assessment of alternative supply sources.
Once again: yes, this is part of a Great Reset agenda.
But who is great resetting who?
Russia is going full autarky, China is sucking up the global economy like a like a Russian skank sucking a golfball through a garden hose, and you’re going to starve or freeze to death.
