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Re: US dollar and oil [Re: white17] #8155692
06/15/24 07:52 PM
06/15/24 07:52 PM
Joined: Apr 2010
Posts: 1,091
South Central Wisconsin
N
Nelly Offline
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Nelly  Offline
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Joined: Apr 2010
Posts: 1,091
South Central Wisconsin
Originally Posted by white17
MBS, the Saudi crown prince, has been shifting their economy away from oil for the last few years. It makes sense to diversify their economy as much as they can so that not all of their foreign reserves are held in dollars. That is part of the impetus driving central banks to buy gold with their dollars and Euros. That reduces the west's ability to impose sanctions on rogue nations.

The BRICS are unlikely to become much of an economic force in the world since their individual nationalist goals do not remotely align with one another. None of them is willing to relinquish national sovereignty to the degree needed to be successful as a group. Certainly none of them trust each other. Their attempts to establish competition to the World bank and the IMF have been a laughingstock.

https://www.wsj.com/articles/a-bank...h4&reflink=desktopwebshare_permalink

Other than oil and the gold that they have accumulated as a result of it,Saudi Arabia doesn't have much else to sell.
It takes a lot of desert to graze the few sheep that are their only other asset.
Unless things have changed since I was there in 90-91.


I'm just a soul whose intentions are good. O Lord please don't let me be misunderstood.
Re: US dollar and oil [Re: NonPCfed] #8155694
06/15/24 07:54 PM
06/15/24 07:54 PM
Joined: Dec 2006
Posts: 18,785
Rodney,Ohio
SNIPERBBB Offline
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SNIPERBBB  Offline
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Posts: 18,785
Rodney,Ohio
Originally Posted by NonPCfed
Quote
The U.S. will never allow it, not going to happen if it threatens the status of the reserve currency, IMO


That's exactly right. The powers to be in the good ole US of A (some are not on our land) can't let go of the reserve currency because the debt-based financial system house of cards WILL COLLAPSE. The Wiemar Republic in Germany didn't last long but it was a view of what might happened here. The Germany of the early 1920s didn't have all the social issues that we have now. No, the war in Ukie land is mostly not about Ukrainian "democracy" but about challenges to global financial hegemony. And we're along for the ride...

Pretty sure some if not most of those powers to be actually do want that system to collapse so they can remake the usa and the world .

Re: US dollar and oil [Re: MJM] #8155695
06/15/24 07:55 PM
06/15/24 07:55 PM
Joined: Apr 2010
Posts: 1,091
South Central Wisconsin
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Nelly Offline
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Nelly  Offline
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Joined: Apr 2010
Posts: 1,091
South Central Wisconsin
The only thing that makes oil worth anything is what industrial economies can use it for.


I'm just a soul whose intentions are good. O Lord please don't let me be misunderstood.
Re: US dollar and oil [Re: SNIPERBBB] #8155700
06/15/24 08:11 PM
06/15/24 08:11 PM
Joined: Feb 2016
Posts: 3,995
Kentucky
ky_coyote_hunter Offline
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ky_coyote_hunter  Offline
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Joined: Feb 2016
Posts: 3,995
Kentucky
Originally Posted by SNIPERBBB

Ukraine is/or was given the the war with pooty-poot, the major breadbasket of europe.

As for the USA being able to stop this...by what means would we have for this that our current administration have(and be willing to use)to do so?

Well for starters, to ensure their control & political survival every military option on the table will be utilized...Manpower, they would sacrifice every able bodied person without hesitation, pay close attention to future requirements for any draft registration.

Food, water sabotage, leveraging other countries for support, intelligence assets, bio warfare, etc....There are no limits, nothing they won't do out of desperation, it will be a fight for all the chips, IMO... Winner takes all.



Member - FTA
Re: US dollar and oil [Re: MJM] #8155701
06/15/24 08:17 PM
06/15/24 08:17 PM
Joined: Dec 2006
Posts: 18,785
Rodney,Ohio
SNIPERBBB Offline
trapper
SNIPERBBB  Offline
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Posts: 18,785
Rodney,Ohio
To quote Elrond from the LoTR movies..."Our list of allies grows thin". Which imaginary allies do we have that would be willing to go along with us?

Last edited by SNIPERBBB; 06/15/24 08:17 PM.
Re: US dollar and oil [Re: ky_coyote_hunter] #8155710
06/15/24 08:29 PM
06/15/24 08:29 PM
Joined: Jan 2018
Posts: 4,900
MN
D
Donnersurvivor Offline
trapper
Donnersurvivor  Offline
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Joined: Jan 2018
Posts: 4,900
MN
Originally Posted by ky_coyote_hunter
Originally Posted by SNIPERBBB

Ukraine is/or was given the the war with pooty-poot, the major breadbasket of europe.

As for the USA being able to stop this...by what means would we have for this that our current administration have(and be willing to use)to do so?

Well for starters, to ensure their control & political survival every military option on the table will be utilized...Manpower, they would sacrifice every able bodied person without hesitation, pay close attention to future requirements for any draft registration.

Food, water sabotage, leveraging other countries for support, intelligence assets, bio warfare, etc....There are no limits, nothing they won't do out of desperation, it will be a fight for all the chips, IMO... Winner takes all.



I've been hiring and firing 18-30 year old men, if we have to count on the coming generation to pick up a gun and fight a war we're in for a rude awakening. You can draft them all you want but only about 10% will be of any real use, most the rest can't handle raking a yard or splitting wood.

Re: US dollar and oil [Re: MJM] #8155713
06/15/24 08:35 PM
06/15/24 08:35 PM
Joined: Feb 2016
Posts: 3,995
Kentucky
ky_coyote_hunter Offline
trapper
ky_coyote_hunter  Offline
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Joined: Feb 2016
Posts: 3,995
Kentucky
Originally Posted by Donnersurvivor
Originally Posted by ky_coyote_hunter




I've been hiring and firing 18-30 year old men, if we have to count on the coming generation to pick up a gun and fight a war we're in for a rude awakening. You can draft them all you want but only about 10% will be of any real use, most the rest can't handle raking a yard or splitting wood.

I don't know about that. You been paying attention to those military age men coming across the border?...You fight and you get citizenship.

The domestic ones who don't pan out would still draw fire & pull down the opposing forces ammo.

Mercenaries, etc...There is nothing that can't be arranged when you control the purse strings.


Member - FTA
Re: US dollar and oil [Re: SNIPERBBB] #8155716
06/15/24 08:51 PM
06/15/24 08:51 PM
Joined: Feb 2010
Posts: 9,048
Henderson, N.Y. Jefferson Co.
W
walleyed Offline
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Posts: 9,048
Henderson, N.Y. Jefferson Co.
Originally Posted by SNIPERBBB
To quote Elrond from the LoTR movies..."Our list of allies grows thin". Which imaginary allies do we have that would be willing to go along with us ?


I'm sure BOCO and his Canadian Immortals would be with us !!! laugh

w


"Provisional/Interim" member of NYSTA

"I Support Non-Resident Trapping"



Re: US dollar and oil [Re: MJM] #8155722
06/15/24 09:00 PM
06/15/24 09:00 PM
Joined: Aug 2010
Posts: 11,197
Asheville, NC
C
charles Offline
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Asheville, NC
I confess that I haven't read all the posts above. If the US produces more oil than any other country, can't we dictate the price per barrel for our oil? Seems like we would be in the driver's seat. I know the Saudi government has a lot of clout, but they need our expertise to extract their oil.
Russia has obsolete technology I think.

My daughter in Denver is employed by a large oil producing company. She says our US oil is harder to refine, and our refineries are designed around lighter foreign oil. We export our fracked oil because it is difficult to refine.

Why don't we build compatable refineries where the oil is? We wouldn't need to send our crude through a pipeline to New Orleans, and then pump gasoline and Diesel back to our home locations? Nobody wants a refinery in their neighborhood. There you have it.

Re: US dollar and oil [Re: ky_coyote_hunter] #8155723
06/15/24 09:01 PM
06/15/24 09:01 PM
Joined: Dec 2006
Posts: 18,785
Rodney,Ohio
SNIPERBBB Offline
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SNIPERBBB  Offline
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Posts: 18,785
Rodney,Ohio
Originally Posted by ky_coyote_hunter

I don't know about that. You been paying attention to those military age men coming across the border?...You fight and you get citizenship.

The domestic ones who don't pan out would still draw fire & pull down the opposing forces ammo.

Mercenaries, etc...There is nothing that can't be arranged when you control the purse strings.

Do you really want to rely on conscripts and mercenaries? The russia-ukraine war is a good recent example of why those ideas are bad.

Re: US dollar and oil [Re: SNIPERBBB] #8155728
06/15/24 09:08 PM
06/15/24 09:08 PM
Joined: Feb 2016
Posts: 3,995
Kentucky
ky_coyote_hunter Offline
trapper
ky_coyote_hunter  Offline
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Joined: Feb 2016
Posts: 3,995
Kentucky
Originally Posted by SNIPERBBB
Originally Posted by ky_coyote_hunter

I don't know about that. You been paying attention to those military age men coming across the border?...You fight and you get citizenship.

The domestic ones who don't pan out would still draw fire & pull down the opposing forces ammo.

Mercenaries, etc...There is nothing that can't be arranged when you control the purse strings.

Do you really want to rely on conscripts and mercenaries? The russia-ukraine war is a good recent example of why those ideas are bad.

Heck no, that wouldn't be the best scenario...But is it possible if things get dicey?...You better believe it.


Member - FTA
Re: US dollar and oil [Re: white17] #8155881
06/16/24 09:14 AM
06/16/24 09:14 AM
Joined: Dec 2010
Posts: 11,774
Armpit, ak
D
Dirt Online content
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Dirt  Online Content
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Armpit, ak
Originally Posted by white17
MBS, the Saudi crown prince, has been shifting their economy away from oil for the last few years. It makes sense to diversify their economy as much as they can so that not all of their foreign reserves are held in dollars. That is part of the impetus driving central banks to buy gold with their dollars and Euros. That reduces the west's ability to impose sanctions on rogue nations.

The BRICS are unlikely to become much of an economic force in the world since their individual nationalist goals do not remotely align with one another. None of them is willing to relinquish national sovereignty to the degree needed to be successful as a group. Certainly none of them trust each other. Their attempts to establish competition to the World bank and the IMF have been a laughingstock.

https://www.wsj.com/articles/a-bank...h4&reflink=desktopwebshare_permalink


It's another "La La La" " I'm Not Listening" day.
smile


Who is John Galt?
Re: US dollar and oil [Re: MJM] #8155942
06/16/24 12:18 PM
06/16/24 12:18 PM
Joined: Dec 2015
Posts: 6,760
se South Dakota
NonPCfed Offline
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se South Dakota
Quote
I confess that I haven't read all the posts above. If the US produces more oil than any other country, can't we dictate the price per barrel for our oil? Seems like we would be in the driver's seat. I know the Saudi government has a lot of clout, but they need our expertise to extract their oil.
Russia has obsolete technology I think.


No. Its sort of the difference between air supremacy vs air superiority. Air supremacy means that your side has pretty much destroyed the other side's ability to challenge you for air power. Air superiority means the other side(s) still have ability to shake things up, make things difficult, [possibly even reverse things but usually not in the historical context.

There's a lot of countries that produce oil and some can turn the cranks more if needed to either 1) affect the raw price or 2) change their competitive advantage. There are far fewer "whales" in oil consumption. These are pre- 'vid numbers and I haven't looked lately but there were only two countries that used more than 10 million barrels of oil a day in say 2019, the U.S. and China. The I think the Nipponese were in (distant) 3rd place at 4 million barrels a day. If the biggest current whale says we'll only buy in USDs, then most of the producers, especially smaller ones, stay in line. If that largest whale considerably loses its market share, then its ability to dictate the currency for oil buying of use diminishes.

If the world truly wants to wean itself from oil, then the next critical control is over the various "rare earths" that right now at least are needed for most of the alternative energy "machinery". So far, the Chicoms have everybody else, especially us, by the short hairs when it comes to rare earths. Its not that we don't have any, its that we simply don't mine them or refine them (most are a fairly nasty business in taking them from their raw state into useful components). Bad juju all around...


"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
Re: US dollar and oil [Re: charles] #8155971
06/16/24 01:17 PM
06/16/24 01:17 PM
Joined: Nov 2017
Posts: 11,539
Maine, Aroostook
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Maine, Aroostook
Originally Posted by charles
Why don't we build compatable refineries where the oil is? We wouldn't need to send our crude through a pipeline to New Orleans, and then pump gasoline and Diesel back to our home locations? Nobody wants a refinery in their neighborhood. There you have it.

Climate activists and an administration at war with carbon has more to do with it than the NIMBY folks. Too much money to invest and too many hurdles in an uncertain future.

Re: US dollar and oil [Re: MJM] #8155983
06/16/24 02:38 PM
06/16/24 02:38 PM
Joined: Dec 2015
Posts: 6,760
se South Dakota
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Besides, what it would cost even if there wasn't opposition to it. I suspect a major new oil refinery would cost multiple tens of billions $$ to create. We're living on past infrastructure in many ways.


"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground".
Genesis 1:26
Re: US dollar and oil [Re: Nelly] #8156084
06/16/24 07:32 PM
06/16/24 07:32 PM
Joined: Mar 2007
Posts: 35,741
McGrath, AK
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white17 Offline

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McGrath, AK
Originally Posted by Nelly
Originally Posted by white17
MBS, the Saudi crown prince, has been shifting their economy away from oil for the last few years. It makes sense to diversify their economy as much as they can so that not all of their foreign reserves are held in dollars. That is part of the impetus driving central banks to buy gold with their dollars and Euros. That reduces the west's ability to impose sanctions on rogue nations.

The BRICS are unlikely to become much of an economic force in the world since their individual nationalist goals do not remotely align with one another. None of them is willing to relinquish national sovereignty to the degree needed to be successful as a group. Certainly none of them trust each other. Their attempts to establish competition to the World bank and the IMF have been a laughingstock.

https://www.wsj.com/articles/a-bank...h4&reflink=desktopwebshare_permalink

Other than oil and the gold that they have accumulated as a result of it,Saudi Arabia doesn't have much else to sell.
It takes a lot of desert to graze the few sheep that are their only other asset.
Unless things have changed since I was there in 90-91.


They see biotech and pharmaceuticals as a possibility


Mean As Nails
Re: US dollar and oil [Re: spjones] #8156085
06/16/24 07:34 PM
06/16/24 07:34 PM
Joined: Mar 2007
Posts: 35,741
McGrath, AK
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white17 Offline

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Originally Posted by spjones
The recent “news” story about the 50 yr agreement coming to an end is fake news

There never was an agreement



Exactly right.

https://www.morningstar.com/news/ma...r-systems-demise-are-fake-news-heres-why


Mean As Nails
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