Famous last words...Drill Baby Drill

[Jangle]

America is pumping so much oil that it's running out of places to keep it all.

The U.S. now has nearly 503 million barrels of commercial crude oil stockpiled, the Energy Information Administration said on Wednesday. It's the highest level of supply for this time of the year in at least 80 years.







The sky-high inventories are the latest sign that the U.S. oil boom is still alive and kicking. U.S. oil production is near all-time highs despite the epic crash in oil prices from $107 a barrel in June 2014 to just $30 a barrel now.

http://money.cnn.com/2016/02/04/inve...lut/index.html

[HL]

Good article!

[Jangle]

Famous last words.....

Senate GOP Unveils Russia Sanctions Bill

04/30/2014 12:15 pm ET | Updated Jun 30, 2014

At a Capitol Hill news conference, McConnell, Sen. Bob Corker, the top Republican on the Foreign Relations Committee, and a half dozen other Republicans assailed Obama's response, casting it as ineffective as his Syria and Libya strategies.

"Insufficient, tepid, too timid," said Sen. Kelly Ayotte, R-N.H.

"The president has an uncanny ability of underestimating every crisis and being late," said Sen. Lindsey Graham, R-S.C.

A day earlier, Treasury Secretary Jack Lew defended the administration and EU sanctions, saying there had been "quite a substantial deterioration in the Russian economy."


Thu, Feb 4, 2016, 8:05pm EST - US Markets are closed
The oil crash has darkened Russia's long-term economic picture

.

Business Insider
By Elena Holodny
11 hours ago

Back in November, it looked like the worst might finally be over for Russia's economy.

But the renewed drop in oil prices has analysts worried that Russia's looking at another rough year.

"The recent run of weak data, coupled with the latest fall in oil prices, has prompted us to revise our forecasts for Russia," wrote Capital Economics' Liza Ermolenko in a recent note to clients.

"We now expect the economy to contract by 1.3% this year and grow by just 0.5% in 2017, both of which are below the consensus. Meanwhile, inflation is set to remain in double digits for the best part of 2016," she added.

http://finance.yahoo.com/news/oil-cr...134300914.html

[HL]

And Putin still mired in Syria. Would love to know the co$t (so far) of that decision.

The FIFA WC is still slated for Russia. Will they have the re$ources to stage this event? I am thinking co$t for levels of security among other expenditures.....

The low cost in oil has crippled the Colombian paso and economy--just as it has done the Russian rouble.

Innerestin' world we live in!

[HL]

I am afraid the Russians have embedded themselves. This won't end soon.

http://www.msn.com/en-us/news/world/...MsI?li=BBnbcA1