David Tagal, president of Margaret Capital, predicts an oil crisis over the next 3 years. He said the world would face a severe shortage of raw materials, which would restore its status as "oil." He said it on the broadcast of Fox Business. The energy expert also said he expects oil prices to reach $100 a barrel by the end of 2021.
Tavel believes that by the end of the year, oil — not only in terms of inflation, but also on the demand side — will certainly grow significantly. Usually, high demand fades with supply because many oil producers have reserves. But now that doesn't work. In the Netherlands, for example, a court ordered Shell to "drastically reduce carbon emissions". In response, Shell began selling assets.
The president of Margrain Capital said the oil giants are trying to pull out of the big oil game as soon as possible, and the trouble is coming from the White House. As soon as Biden ascended to the presidency, he banned the leasing of state land under new oil and gas production contracts.
As Fox Business describes, the situation with U.S. oil production looks pretty bad. Biden's green energy solution has suspended drilling of new wells in Louisiana, Alabama, Alaska, Arkansas, Georgia, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Texas, Ute and West Virginia. In fact, it was a powerful blow to shale oil production.
The judge's only concern is that the U.S. government does not have the authority to terminate oil and gas leases in the territories of the states without congressional approval. Among Republicans, however, there are also Greens, and in short, the White House has a good chance of achieving its own plan.
<h1 class="pgc-h-arrow-right" data-track="18" > Biden's New Deal on Green Energy</h1>
Biden's climate policy in the United States has been dubbed the "kiss of death" by small and medium-sized oil companies. Meanwhile, political analysts noted that a road of no return had passed at the recent G7 leaders' summit, and they pledged to achieve net-zero emissions for their countries by 2050. One is a green revolution that reduces emissions and seeks to limit global temperature rise to 1.5 degrees Celsius. Commit to net zero emissions no later than 2050 and halve collective emissions in the G7 countries over a two-decade period between now and 2030.
Biden has proposed up to $100 billion a year in climate change funding under the Paris Agreement.
It is estimated that drilling on state land accounts for about 9% of U.S. production, which is considered small and easily offset by OPEC+. Biden, however, believes the United States should follow the example of other countries and do the same.
The United States has begun a green storm, including in many forums. Fox Business provides a platform for upset Americans.
Many U.S. oil companies sell their mineral assets for a penny. They know that tighter regulation is just one step in making these assets risky. When the Green Party and government begin to fail in the implementation of climate policies, someone buys back assets at half price. The world will continue to need oil and petrochemicals.
Theoretically, if $100 a barrel is negative for wealthy Americans, then for poor Russians, it's hope of returning to the affluence period. Especially since the prediction of the president of McGran Capital has actually become a reality. The New York Mercantile Exchange has signed the first Contract for West Texas Intermediate Crude Oil at an execution price of $100 per barrel, but will be delivered in December 2022.
There have been reports that the G7 climate conference is a meeting of fools led by American psychopaths. Experts say that at least until the end of the 21st century, there will be no alternatives to oil and gas. At this time, it is not realistic to mention green emission reductions.
If we analyze the G7 statement that it intends to abandon hydrocarbon feedstocks in its national energy sources in the 2030s, we can find references to incentives and enforcement measures. The first is to encourage countries to reduce greenhouse gas emissions, and the second is to punish oil-exporting countries on the planet, including those that produce and sell oil and gas. This is equivalent to the Americans giving Russia a heavy pebble.
Russia is highly dependent on the oil economy, and it will take 10 to 20 years to jump off the oil hand. In response, the Kremlin will have nothing to do because the Group of Seven is acting in the interest of the planet.
That's why Russia calls the Group of Seven a meeting of fools led by america's elderly psychopaths.
Oil prices suddenly began to shift to $100 a barrel, and the most unbearable thing was definitely the United States. After the Group of Seven (G7), watching Biden as confused and confused as an old man with amnesia, did any voters regret voting for him?