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Page added on April 28, 2019
US will not reissue waivers for Iran oil imports
The Trump administration on Monday told five countries – Japan, South Korea, Turkey, China and India – that they would no longer be exempt from US sanctions if they continued to import oil from Iran after their waivers ended on May 2.
“We’re going to zero. We’re going to zero across the board,” US Secretary of State Mike Pompeo told reporters after the White House made the announcement in a statement. “There are no (oil) waivers that extend beyond that period, full stop,” he said, adding that there would be no grace period for those economies to comply.
The United States which has engaged in a maximum pressure campaign against Tehran since Donald Trump came to office, had been giving the countries time to wean themselves off Iranian oil, but has decided that waivers would no longer be issued.
“The goal remains simply: To deprive the outlaw regime of the funds that it has used to destabilise the Middle East for decades and incentivise Iran to behave like a normal country,” Pompeo said.
The administration granted eight oil-sanctions waivers when it reimposed sanctions on Iran after Trump pulled the US out of the landmark 2015 nuclear deal. The waivers were granted in part to give those countries more time to find alternate energy sources but also to prevent a shock to global oil markets from the sudden removal of Iranian crude.
The White House said on Monday that the US, Saudi Arabia and the United Arab Emirates “have agreed to take timely action to assure that global demand is met as all Iranian oil is removed from the market”.
Saudi Energy Minister Khalid al-Falih said in a statement that the kingdom was closely monitoring the oil market and “will coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance”.
Tehran remained defiant over Washington’s decision, saying it was prepared for the end of the waivers, while the Revolutionary Guards repeated its threat to close the Strait of Hormuz, a major oil shipment channel in the Gulf, Reuters news agency reported, citing Iranian media. Such a move, the Trump administration said, would be unjustified and unacceptable.
Iran’s foreign ministry said the US decision had “no value” but that Tehran was in touch with European partners and neighbours and would “act accordingly”, Iranian news agencies reported.
It added that the sanctions were “illegal”.
“The waivers … have no value but because of the practical negative effects of the sanctions, the Foreign Ministry has been … in touch with foreign partners, including European, international and neighbours and will… act accordingly,” the agencies quoted the ministry as saying.
‘Won’t serve regional stability’
Since November, three of the eight countries receiving waivers – Italy, Greece and Taiwan – have stopped importing oil from Iran. The other five, however, have not, and have lobbied for their waivers to be extended.
NATO ally Turkey had made perhaps the most public case for an extension, with senior officials telling their US counterparts that Iranian oil was critical to meeting their country’s energy needs. They have also made the case that as a neighbour of Iran, Turkey cannot be expected to completely close its economy to Iranian goods.
On Monday, Turkey slammed the US decision, saying it would not serve regional peace and stability.
Turkey “rejects unilateral sanctions and impositions on how we build our relationship with our neighbours,” Turkish Foreign Minister Mevlut Cavusoglu tweeted. “The US decision … will harm Iranian people.”
Last week, presidential spokesman and senior adviser Ibrahim Kalin told reporters in Washington, DC, that “people should not expect Turkey to turn its back on Iran just like that”.
Turkey did not support US sanctions policy on Iran and did not think it would yield the desired result, Kalin said at the time, but added that Ankara would not want to violate sanctions if a waiver was not extended.
“We will look for alternatives in terms of transactions and other things. We don’t want to break or violate the sanctions but at the same time we don’t want to be deprived of our right to buy oil and gas from Iran,” Kalin said last week.
Geng Shuang, a Chinese Foreign Ministry spokesman, said at a daily news briefing in Beijing on Monday that it opposed unilateral US sanctions against Iran and that China’s bilateral cooperation with Iran was in accordance with the law.
South Korea’s Yonhap news agency quoted the foreign ministry as saying the South Korean government had been negotiating with the US at all levels to extend the waivers and that it would continue to make every effort to reflect Seoul’s position until the May 2 deadline.
In India, refiners have started a search for alternative supplies but the government declined to comment officially.
Embassies of India, China and South Korea in Washington, DC, did not immediately respond to requests for comment, along with Japan, whose Prime Minister Shinzo Abe will be in the US capital on Friday for an official visit.
Oil prices rise
Oil prices rose following the Trump administration’s announcement on Monday.
In morning trading, benchmark US crude surged $1.52, or 2.4 percent to $65.57 per barrel in New York. Brent crude, used to price international oils, jumped $1.84, or 2.6 percent to $73.80.
Ritterbusch and Associates, an oil trading advisory firm, said in a morning note that “a complete elimination of Iranian exports is nearly impossible and that a reduction beyond current levels will likely prove limited”.
It said that the overall effect “will hinge to a large degree on the Saudis’ response to what is likely to be some strong requests from the Trump administration to increase productions appreciably”.
Peter Kiernan, an energy analyst at the Economist Intelligence Unit (EIU) said: “A severe loss in (Iranian) volumes will put pressure on the supply side, given the political uncertainty currently blighting other oil exporters, such as Venezuela and Libya.”
According to some analysts, ending the waivers was expected to hit Asian buyers, including China and India, the hardest.
Kim Jae-kyung of the Korean Energy Economics Institute said the move “will be a problem if South Korea can’t bring in cheap Iranian condensate (for) South Korean petrochemical makers”.
Takayuki Nogami, a chief economist at Japan Oil, Gas and Metals National Corporation (JOGMEC), said ending the waivers was “not a good policy for Trump”.
Nogami said he expected oil prices to rise further because of US sanctions and OPEC-led supply cuts.
So far in April, Iranian exports were averaging below one million barrels per day (bpd), according to Refinitiv Eikon data and two other companies that track exports and declined to be identified.
That is lower than at least 1.1 million bpd estimated for March, and down from more than 2.5 million bpd before the renewed sanctions were announced last May.
116 Comments on "US will not reissue waivers for Iran oil imports"
Cloggie on Tue, 30th Apr 2019 5:07 pm
BBC Newsnight suggests NOW that the coup failed.
Truth Buster on Tue, 30th Apr 2019 5:47 pm
The Real “Bombshells” Are About To Hit Their Targets
In the next several weeks, Inspector General Michael Horowitz is expected to issue his summation of the potential abuse of the Foreign Intelligence Surveillance Act by top officials in the Obama Administration and holdovers in the early Trump Administration who were overseeing the investigation of Donald Trump’s presidential campaign. And the perpetrators of the so-called FISAgate scandal now are scrambling for cover as the bad news looms.
But—to borrow a favorite term of the collusion truthers—the “walls are closing in” on the FISA abusers. Representative Mark Meadows (R-N.C.) and James Jordan (R-Ohio) recently met with Horowitz and offered some ominous news for Comey and company: “We anticipate the IG’s report will come out . . . in the next four to six weeks and I think it’s highly likely that we’ll see criminal referrals coming from them,” Meadows told Fox Business host Maria Bartiromo on April 14.
In response to her “Meet the Press” interview, Senator John Cornyn (R-Texas) tweeted that Yates’ actions “will certainly be part of forthcoming Senate Judiciary Committee oversight hearings on FBI/DOJ during Obama years in which she served as Deputy AG under Loretta Lynch.” The Horowitz report could do what the Mueller report could not: Find legitimate evidence of conspiracies between political operatives, Russian interests, and top government officials; uncover attempts to obstruct justice as the various investigations into misconduct proceeded; and expose rank corruption at the highest levels of a presidential administration.
Robert Inget on Tue, 30th Apr 2019 5:58 pm
Trump threatens ‘complete embargo’ (an act of war) and ‘highest-level sanctions’.
Why? Because Venezuela delivered oil to Cuba.
Question, Is Trump prepared to go to the Mattresses with all of VZ’s clients?
“President Trump Threatens Cuba With Complete Embargo If Cuban Troops Continue Operations in Venezuela”
http://time.com/5580763/trump-threatens-cuba-troops-venezuela/
Venezuela’s customers and lenders are BOTH
China and Russia.
If the Trumps still have ‘back channel’ w/Moscow,
now might be good time for a talk with Putin.
The point most observers are missing?
How IMPORTANT VZ CRUDE for survival.
Duncan Idaho on Tue, 30th Apr 2019 6:19 pm
The Fat Boy is in way over his head.
Cuba is probably smiling a bit.
Duncan Idaho on Tue, 30th Apr 2019 6:31 pm
Leopoldo López flees to Chilean Embassy–
interesting as chile was the home of pinochet… i can’t imagine the chilean people having a short memory of that.. they must recognize a cia con job when it is staring them in the face..
makati1 on Tue, 30th Apr 2019 6:34 pm
Duncan, “the fat boy” is destroying the US one day at a time. Using illegal tariffs, embargoes, and financial sanctions only points to desperation on his part. The Empire is dying. All he is doing is pointing out how desperate the US is to remain in control.
Weaponizing the dollar is the fastest way for it to be dumped by countries that want to control their own future, like China, Iran, Russia, and a growing multitude of others. More joining the “dump the dollar gang” every day.
He will likely win in 2020 and the second four years will be even more desperate as he need not be concerned about another election. The Greatest Depression? World War III? Civil War II? All three? Buckle up!
Duncan Idaho on Tue, 30th Apr 2019 6:39 pm
There is a good chance tRUMP will get a second term.
From the posts here, look at the political literacy of the average American.
Even at 35% rating, the Dims will probably put Biden, or some other loser as an opponent.
Might not be a bad thing– faster crash, and the survivors (if any) will have more resources.
Davy on Tue, 30th Apr 2019 6:46 pm
“From the posts here, look at the political literacy of the average American.”
So I take it that you, the great Idaho, are politically literate? Idaho, you got a hard on is all you got. You and makato belong together.
Davy on Tue, 30th Apr 2019 6:48 pm
“Might not be a bad thing– faster crash, and the survivors (if any) will have more resources.”
Wow, aren’t you compassionate. I take it you think you are going to be one of those with more resources. You know because you are so literate.
Davy on Tue, 30th Apr 2019 7:06 pm
“Nitrogen Crisis: A neglected threat to Earth’s life support systems”
https://tinyurl.com/yyl85ntq climate and capitalism
“Globally and in most ecosystems, the availability of reactive nitrogen has limited the amount of biomass on Earth, and natural selection has favored organisms that use it efficiently. But in the past century, three major processes have disrupted the balance between fixation and denitrification, by adding unprecedented amounts of reactive nitrogen to the biosphere: Industrial production of ammonia for fertilizers and explosives, using the Haber-Bosch process; Large-scale cultivation of rice, soy beans and other crops that promote production of reactive nitrogen; Burning fossil fuels, which, in addition to CO2, produces the gases nitrogen dioxide and nitric oxide — (NO2 and NO). Those processes now produce more reactive nitrogen than all natural terrestrial systems combined — and there has been no corresponding increase in denitrification. As a result, biogeochemist James Galloway writes, “we are accumulating reactive nitrogen in the environment at alarming rates, and this may prove to be as serious as putting carbon dioxide in the atmosphere.”
makati1 on Tue, 30th Apr 2019 7:07 pm
Delusional Davy, the Missouri Jackass, is braying again! No rebuttal, just putdowns.
Heeeeee Haaaaaw!
makati1 on Tue, 30th Apr 2019 7:09 pm
Too ignorant/lazy to actually comment on your cut and paste jobs, Davy? No one reads them.
Davy on Tue, 30th Apr 2019 7:14 pm
Delusional Davy, the Missouri Jackass, is braying again! No rebuttal, just putdowns.
rebut what, makato? Stupidity?
Davy on Tue, 30th Apr 2019 7:15 pm
“Too ignorant/lazy to actually comment on your cut and paste jobs, Davy? No one reads them.”
shut up makato, If I make a comment you whine if I don’t you whine. The reference above is relevant to issues discussed here. It is much more on topic than your anti-American puke.
makati1 on Tue, 30th Apr 2019 7:38 pm
“The weaponisation of the US dollar is the end of its economic ascendancy in Asia – with China’s yuan ready to fill the void
Hawkish US sanctions on Iran have had an unanticipated side effect – they’re helping to promote the formation of a new informal Asian monetary bloc centred on the yuan, at the expense of the US dollar.”
https://www.scmp.com/week-asia/economics/article/3007906/weaponisation-us-dollar-end-its-economic-ascendancy-asia-chinas
The power is moving East. The dollar is dying along with it’s promoter, thanks to Trump.
GO TRUMP! TRUMP IN 2020! lmao
union-of-muzzie-lovers-of-america-AKA-fmr-paultard on Tue, 30th Apr 2019 7:50 pm
the union of orthordox muzzie lovers of america and corporation of broadcasting of muzzie propaganda would like to wish supertard an excellent and safe spring when mating season is in full swing and aggression level is off the chart.
when kufar do an NZ on muzzies, muzzies got to be protected.
When muzzies do a sriLanka on kufar, muzzies got to be protected.
and AOC tweeked 25 million times on NZ and zero on siri lanka
the Union always congratuae newly minted supertard sis
peas
Republicon Conspiracy BS 9.0 on Wed, 1st May 2019 1:01 am
Oh sure, LOL, right after PizzaGate and HillaryGate and Seth Rich Gate Democratic Voter Fraud Gate (oops it was the RepubliCONS who got caught stuffing ballot boxes in North Carolina- ignore this news)
“The Real “Bombshells” Are About To Hit Their Targets
In the next several weeks, Inspector General Michael Horowitz is expected to issue his summation of the potential abuse of the Foreign Intelligence Surveillance Act by top officials in the Obama Administration and holdovers in the early Trump Administration who were overseeing the investigation of Donald Trump’s presidential campaign. And the perpetrators of the so-called FISAgate scandal now are scrambling for cover as the bad news looms.”
Cloggie on Wed, 1st May 2019 1:02 am
Monroe just died, the return of Europe to North-America (you ain’t seen nothing yet):
https://www.dailymail.co.uk/news/article-6975871/Venezuelas-Juan-Guaido-calls-military-revolt-final-phase-overthrowing-President-Maduro.html
“Venezuela’s President Maduro ‘had a plane on the tarmac’ yesterday and was ready to flee to Cuba before RUSSIA intervened to stop him leaving, US claims after tens of thousands of people hit the streets in support of his rival Juan Guaido sparking violent clashes with military”
Cloggie on Wed, 1st May 2019 1:15 am
Russia-meddling-one-can-believe-in:
https://www.dailymail.co.uk/news/article-6976843/Its-Ladies-night-Theresa-Cabinet-rivals-Brexit-feud-one-London-hotel.html
“Revealed: Russian Oligarch’s wife paid £135,000 for dinner with Theresa May and SIX female cabinet ministers to be pictured with them at a hotel that is the favourite of Royals”
Putin-Russia supports Brexit… so it can take the place of Britain in the EU.
https://www.forbes.com/sites/jamesrodgerseurope/2018/12/10/brexit-is-russia-getting-what-it-wanted/#53c2f5c04cc7
“Brexit: Is Russia Getting What It Wanted?”
Spoiler: ID DOES!
PBM means: Europe back at the top of the world, where it belongs on the grounds of its immense heritage, at the cost of Anglo-Zionism and Brexit, Russian neo-Gaullism, US-Chinese rivalry for the #1 spot and US white nationalism-CW2, are going to deliver just that.
https://www.rt.com/op-ed/457819-charles-degaulle-france-president/
https://deepresource.wordpress.com/2014/09/19/putin-confirms-ambition-paris-berlin-moscow-alliance/
Cloggie on Wed, 1st May 2019 1:21 am
Chuka and his diverse Change UK Remain party and his Londinistan leftist want Europe, but we don’t want you, Chuka, get lost, don’t spoil Godsent Brexit:
https://www.dailymail.co.uk/debate/article-6978825/Changing-politics-making-naffer-HENRY-DEEDES-sees-Chukkas-party-unveil-new-candidates.html
“Changing politics – by making it naffer: HENRY DEEDES sees Chuka’s party unveil its ‘diverse’ new candidates”
Cloggie on Wed, 1st May 2019 1:29 am
Stick them in your *rse, DJT. It was America’s war, YOU created ISIS:
https://www.dailymail.co.uk/news/article-6977699/Trump-demands-European-countries-1-800-ISIS-fighters-captured-collapse-caliphate.html
“Trump demands European countries take back astonishing total of 1,800 ISIS fighters captured in collapse of the caliphate”
makati1 on Wed, 1st May 2019 1:57 am
Cloggie, it all depends on whose propaganda you are reading re Venezuela. Anything from the UK is US propaganda regurgitated. I have read nothing that suggests Maduro is losing. Zero. But then, I do not read USMSM or even UK bullshit. The UK is so far up the US ass that the sun doesn’t shine.
Theedrich on Wed, 1st May 2019 2:26 am
So we’re now into regime-change in Venezuela. But don’t call it a “coup.” (No, rather, it’s a Putsch.) After all, the U.S. is virginal, and the current president of VZ is bad, bad, bad. Besides, he has all that oil that we want. Never mind that the majority of the U.S.-generated rioters and hirelings are using teargas canisters that probably came from the CIA. Or that our agents are supplying all kinds of support to the anti-VZ provocateurs. Or that we are using “calculated ambiguity” about militarily attacking that country if it doesn’t install our puppet as overlord. After all, as we like to say, “we’re not taking any options off the table.”
Alas for Washington, the economic destabilization of VZ is going nowhere. So, next step after failed coup: use mercennaries. Remember: we really, really need that oil. And with our stooge Guaidó in charge, we can not only block Russia from continuing its petroleum alliance with VZ, but can also have the new marionette stiff Russia for all the billions they have loaned that country. Yup, have the Latin country “turn over a new leaf.” Two birds with one stone.
Cloggie on Wed, 1st May 2019 2:27 am
That’s true mak, but you always need to know what the enemy thinks. One of them, the BBC, said yesterday that the coup failed and I believe them, because it is not in the empire interest. And I would not exclude the possibility that Russia did indeed encourage Maduro to stay. If the US can rake in the Ukraine, why not Russia and China rake in oil-rich Venezuela?
makati1 on Wed, 1st May 2019 4:53 am
Cloggie, they already have. And as for Ukraine, that is a loser country that is fast losing it’s eastern Russian speaking population to Russia.
“Kiev condemns Russia offer of easy passports to east Ukrainians
Kiev urges residents not to apply for the Russian documents after Moscow streamlines the process for east Ukrainians.”
https://www.aljazeera.com/news/2019/04/kiev-condemns-russia-offer-easy-passports-east-ukrainians-190425062954511.html
Kiev is powerless to stop it. LOL
Davy on Wed, 1st May 2019 6:13 am
“PBM means: Europe back at the top of the world, where it belongs on the grounds of its immense heritage, at the cost of Anglo-Zionism and Brexit, Russian neo-Gaullism, US-Chinese rivalry for the #1 spot and US white nationalism-CW2, are going to deliver just that.”
Hilarious fantasy of a one tracked mind dripping with a combination of narcissism, hollow nationalism, and racism. That is the cloggo platform. Everything he believes in lies there. What a loser.
Davy on Wed, 1st May 2019 6:20 am
“I have read nothing that suggests Maduro is losing. Zero. But then, I do not read USMSM or even UK bullshit. The UK is so far up the US ass that the sun doesn’t shine.”
Makato, you haven’t seen the condition Venezuela is in? Basically now it 100 Russian troops and some loyal Venezuelan troops that keep Maduro in power. Most are just waiting for a real alternative. Guaido is not a legitimate alternative unfortunately. There is no real force of change in Venezuela except slow collapse. China and Russia will not sink much more money into Venezuela. The country is self-destructing and you think Maduro is winning. This is just an example of your binary mind of your anti-American agenda.
Davy on Wed, 1st May 2019 6:31 am
“Monroe just died, the return of Europe to North-America (you ain’t seen nothing yet)”
“US Troops In Syria For “Long Haul” Atop “A Lot Of Oil Resources”: Pentagon Official”
https://tinyurl.com/y65o9sho zero hedge
“A high level Pentagon official has admitted that US forces will be in Syria for “the long haul” and coupled his statement by declaring the territory contains “a lot of the oil resources and arable land.”
“Mulroy said “we have a very capable partner” — in reference to the primarily Kurdish Syrian Democratic Forces (SDF) — and quickly noted the US-trained SDF happens to occupy key regions in eastern Syria with “a lot of the oil resources and arable land,” and added that, “we are there with them”. The Pentagon official further vouched for the think tank’s new feature policy recommendations on Syria which call among other things for continuing to “maintain a presence in over one-third of the country.”
“Meanwhile, the majority of Syria’s population is now under the Syrian government, now reeling from the worst fuel shortage in the nation’s history as a result of new oil sanctions targeting Damascus and its ally Iran. Even with the Islamic State’s territorial caliphate now long gone, major oil and gas sites like al-Omar oil field in Deir Ezzor province in Syria’s east remain controlled by the SDF and its US backers, something which Damascus has repeatedly condemned before the United Nations as an illegal violation of its sovereignty.”
Davy on Wed, 1st May 2019 6:49 am
“Bosch Partners With Powercell On Co-Development Of PEM Fuel Cell Stack”
https://tinyurl.com/y27onpr5 clean technical
“Bosch is entering the market for mobile fuel-cells and is pushing ahead with their commercialization,” Bosch board member Dr. Stefan Hartung said of the new partnership. The new agreement will see Bosch partnering with Swedish Powercell to co-develop polymer-electrolyte membrane (PEM) fuel-cells. After the initial development, Bosch will manufacture and bring the new fuel-cell stacks to market in 2022 ‘at the latest’, according to the press release about the new partnership. The company is not only exploring options for different onboard energy storage technologies, it is actively working to develop fuel cells with different technologies. In August of last year, Bosch entered into an agreement with UK-based solid oxide fuel cell (SOFC) developer Ceres to co-develop and manufacture fuel cells. These larger fuel cells are well-suited for stationary energy storage solutions and Bosch envisions a future where neighborhoods, industrial facilities, and campuses can install a fuel cell on the order of 10kW. These smaller units would provide local energy storage and peaker generation capabilities, directly replacing their natural gas counterparts. “Bosch believes that the highly efficient fuel cell, with its very low emissions, has an important role to play in energy systems’ security of supply and flexibility,” Hartung said when the Ceres deal was announced. SOFCs bring the potential for higher combined heat and power efficiencies, but with a longer startup time and higher operating temperatures than the more traditional PEM stacks used in the automotive space.”
Davy on Wed, 1st May 2019 7:06 am
Cloggo’s white, male, colonial, nationalistic, racist, and Euro chauvinistic PBM empire has competition. They will likely cancel each other out.
“Only a mass socialist, feminist, internationalist, pro-peasant, anti-racist, indigenous, and anti-colonial movement can save humanity”
https://tinyurl.com/yx8stfzf climate and capitalism
“A RED-GREEN MANIFESTO FOR THE 21ST CENTURY”
“This declaration was drafted by Daniel Tanuro and adopted by the national leadership of Belgium’s Gauche Anticapitaliste. Translated for Climate & Capitalism by Richard Fidler, who blogs at Life on the Left, with light editing by Ian Angus.”
Davy on Wed, 1st May 2019 7:19 am
More RedGreen ecosocialism works. I post this because this new synthesis will likely be a rallying point of fake green younger generation that want something for nothing but do have legitimate concerns for the destruction of the planet. Increasingly as the social fabric decays from declining economies and a degraded planet the young will likely embrace this platform. I would expect a radicalization of RedGreen in the near future.
“New contributions to the theory and practice of Marxist Ecosocialism”
https://tinyurl.com/y29zsj6v climate and capitalism
Michael Löwy reviews two important books for ecosocialists: ‘Karl Marx’s Ecosocialism’ by Kohei Saito, and ‘Red-Green Revolution’ by Victor Wallis.
Michael Löwy was co-author, with Joel Kovel, of the first Ecosocialist Manifesto (2001). His most recent book is Ecosocialism: A Radical Alternative to the Capitalist Ecological Catastrophe. (Haymarket Books, 2015)
Kohei Saito: KARL MARX’S ECOSOCIALISM: Capital, Nature, and the Unfinished Critique of Political Economy (Monthly Review Press, 2017)
Victor Wallis. RED-GREEN REVOLUTION: The Politics and Technology of Ecosocialism (Political Animal Press. 2018)
Davy on Wed, 1st May 2019 8:09 am
“$1 Billion In Iranian Crude Is Stranded At A Chinese Port”
https://tinyurl.com/yxa3y7k8 zero hedge
“It’s no secret that Beijing has chafed at American audacity to try and dictate whom Chinese refineries can and can’t buy oil from. And in the latest example of just how aggravating the decision to end waivers for Iranian crude imports has been for the world’s second-largest economy, Reuters reported that some 20 million barrels of Iranian crude have been languishing at the northeastern port of Dalian for months, but because of the US’s decision to re-impose sanctions on Iran back in November, nobody wants to touch the oil. Even when the waivers were in effect, Chinese refineries couldn’t secure financing and insurance that would allow them to purchase the oil because of the uncertainty surrounding the future of the waivers. Iran sent the oil to China via the National Iranian Tanker Company before the sanctions were imposed as Iran struggled with a backlog of oil that had exhausted the country’s domestic storage capacity. So Beijing, the largest buyer of Iranian oil, allowed the NTCC to store some oil in so-called bonded storage tanks situated in the Dalian port. The oil has yet to go through Chinese customs. China filed a formal complaint with the US over its decision to end the waivers, but the US has refused to consider any exceptions to its plans to reimpose full sanctions. As one analyst told Reuters, no Chinese company will touch the oil unless specifically instructed to do so by the Chinese government.”
Robert Inget on Wed, 1st May 2019 9:40 am
Summary of Weekly Petroleum Data for the week ending April 26, 2019
U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week
ending April 26, 2019, which was 137,000 barrels per day less than the previous week’s
average. Refineries operated at 89.2% of their operable capacity last week. Gasoline
production increased last week, averaging 9.9 million barrels per day. Distillate fuel
production increased last week, averaging 5.1 million barrels per day.
U.S. crude oil imports averaged 7.4 million barrels per day last week, up by 265,000
barrels per day from the previous week. Over the past four weeks, crude oil imports
averaged about 6.8 million barrels per day, 19.2% less than the same four-week period
last year. Total motor gasoline imports (including both finished gasoline and gasoline
blending components) last week averaged 770,000 barrels per day, and distillate fuel
imports averaged 63,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) increased by 9.9 million barrels from the previous week. At 470.6 million
barrels, U.S. crude oil inventories are at the five year average for this time of year. Total
motor gasoline inventories increased by 0.9 million barrels last week and are about 2%
below the five year average for this time of year.
Finished gasoline and blending
components inventories both increased last week. Distillate fuel inventories decreased by
1.3 million barrels last week and are about 6% below the five year average for this time
of year. Propane/propylene inventories increased by 1.2 million barrels last week and are
about 21% above the five year average for this time of year. Total commercial petroleum
inventories increased last week by 12.7 million barrels last week.
Total products supplied over the last four-week period averaged 20.2 million barrels per
day, up by 0.5% from the same period last year. Over the past four weeks, motor gasoline
product supplied averaged 9.5 million barrels per day, up by 1.5% from the same period
last year. Distillate fuel product supplied averaged 3.8 million barrels per day over the
past four weeks, down by 9.6% from the same period last year. Jet fuel product supplied
was up 1.7% compared with the same four-week period last year.
Robert Inget on Wed, 1st May 2019 9:58 am
Last week’s consumption/inventory
report,
There’s something fishy here.
Extremely bearish energy inventory report
Following is all in mmbbls:
Oil was +9.93 vs est of +1.75
Gasoline was +0.917 vs est of (0.950)
Distillates (1.31) vs est of (0.750)
Well, these numbers are very hard to rationalize if you believe that Iran is under sanction, Venezuela is under Mad Max, a Russian pipeline at 750,000 b/d is under contamination, Nigerian oil is under force majeur, 250,000 barrels a day in Canada is under curtailment – – – yet we get a 10 million build in oil!? WTH is going on here?
(UnderTheRadar)
My take
In studying these reports for the last 13 years,
this one is the strangest.
That distillate fuels (HO and Diesel) consumption almost 10% lower is troubling, for sure.
Trucking, shipping, military, farming use the most diesel did farmers stop planting? Did semi truckers all go on holiday?
The only unreasonable man’splain must be US production must have almost doubled in a single week or EIA is making up for some past error.
union-of-muzzie-lovers-of-america-AKA-fmr-paultard on Wed, 1st May 2019 10:39 am
the orthodox union of muzzie lovers of america, pan americana, pan european, pan national borders would like to wish supertard a happy and safe spring mating season where tards are super aggressive. if you are being tailed, please pull over and let them go. if you see someone pulling over letting you go, it could be your tard truly.
we want to congratulate newly minted supertard sis
we want to alert u all to newly released video of supertard muzzie al-baghdadi with subtitles . you will find it on jihadwatch the post by newly minted imam “MARC”.
this has been a PSA. we’re tards we look out for one another.
Cloggie on Wed, 1st May 2019 11:12 am
More rumblings in the empire and bad news for empire dave:
https://www.dailymail.co.uk/news/article-6978451/Corbyn-faces-fresh-anti-Semitism-accusations-endorsement-book-claimed-Jews-run-banks.html
“Revealed: Jeremy Corbyn was billed as the headline act at the launch of anti-Semitic book that claimed Jews run banks and the press”
LOL! How dare he say that Jeff Bezos runs WaPo, etc., etc., etc.:
https://thezog.wordpress.com/
And then this:
https://www.dailymail.co.uk/news/article-6981063/Pictured-Sadiq-Khan-poses-Labour-councillor-called-anti-Semitic.html
“Pictured: Sadiq Khan poses with Labour councillor he called anti-Semitic over Facebook posts ‘blaming Zionist Jews for 9/11’ and claiming ‘Israel and the US created ISIS'”
Ohoooh, this is going entirely into the right direction. I may have a difference or two with Jeremy, but he absolutely has my blessing and I hope he becomes the next PM, in the interest of the ordinary working class Brit and NOT the oligarchs. Jeremy is going to clean out ZOG-UK for us, while we continentals have a good time in North-America.
Cloggie on Wed, 1st May 2019 11:32 am
Venezuela, the dissidents view:
http://thesaker.is/behold-the-breathtaking-weakness-of-the-empire/
https://www.moonofalabama.org/2019/04/venezuela-random-guyaid%C3%B3-launches-new-coup-attempt.html
https://www.rt.com/news/457985-venezuela-coup-fizzles-lopez-chile/
German empire outlet:
https://www.spiegel.de/politik/ausland/venezuela-juan-guaidos-neuerlicher-aufstand-ist-vorerst-in-sich-zusammengefallen-a-1265277.html
“He is still there”
Sure, but so is Assad. And the Mullahs.LOL
To be fair to the Americans, they do have their Jewish president in the Ukraine, point for them.
Robert Inget on Wed, 1st May 2019 1:33 pm
NY Post
Secretary of State Mike Pompeo said Wednesday that the US was prepared to take military action to stem the turmoil in Venezuela — and was scheduled to speak with his Russian counterpart to discuss the Kremlin’s role in the crisis.
“The president has been crystal clear and incredibly consistent — military action is possible — if that’s what’s required — that’s what the United States will do,” Pompeo said in an interview with Fox Business Network.
“We are trying to do everything we can to avoid violence … We’d prefer a peaceful transition of government there where (President Nicolas) Maduro leaves and a new election is held,” he said.
The top US diplomat added that he expects “lots of people taking to the streets today to defend their democracy.”
On Tuesday, President Trump threatened a “full and complete embargo” and sanctions against Cuba if its military did not “immediately” stop operations in Venezuela to shore up Maduro’s regime.
In addition to actions already taken by Team Trump to stop Cuba’s support, “there are more that we will continue to work on,” Pompeo said, adding that “we’ll do the same for the Russians.”
“As President [Trump] said — they gotta go — and the Russians need to have the cost for that race,” he said. “We are focused on making sure that we do we can to take this malign activity, which is undermining Juan Guaidó, who is the duly elected leader of Venezuela and take these supports out from underneath [Maduro] so that he will depart the country.”
National security adviser John Bolton said in interviews with CNN and Fox News on Wednesday that Pompeo planned to speak with Russian Foreign Minister Sergei Lavrov.
Bolton would not elaborate on what the US knew about Russian involvement affecting Maduro’s plans, but he made clear that the Kremlin’s interference was unwelcome.
“This is our hemisphere,” he told reporters outside the White House. “It’s not where the Russians ought to be interfering. This is a mistake on their part. It’s not going to lead to an improvement of relations.”
Meanwhile, Venezuela braced for protests Wednesday after the embattled Maduro and Guaidó appealed to their supporters to take to the streets a day after violent clashes left scores injured.
“Today we continue,” Guaidó, who leads the opposition-controlled National Assembly, wrote on Twitter early Wednesday. “We will keep going with more strength than ever, Venezuela.”
Guaidó has invoked the constitution to assume an interim presidency, arguing Maduro’s May 2018 re-election was illegitimate.
On Tuesday, Guaidó called on the armed forces to join the final stage of “Operation Liberty” and remove the socialist president from power.
While the opposition leader earned the backing of the US and most Western countries, the military has stood by Maduro, who has the support of allies like Russia, China and Cuba.
Maduro has remained defiant despite protests calling for his ouster, and described Guaidó’s supporters as a “small group” whose plans had failed.
Robert Inget on Wed, 1st May 2019 2:01 pm
Like I said the other day, Venezuela puts Trump in the middle. If he uses US military to “Stem the Turmoil” IOW’s Invade Venezuela, he’ll find out
just how unpopular US invention has become.
First of all: we will end up fighting almost all Venezuelans not just pro-government.
Second; Are we planning to occupy VZ?
(for how long)
Third; unless we deploy at least ten thousand troops, (to fight Cuban, Russian, Chinese military)
in a Spanish speaking foreign land.
Cuba, Ecuador, Mexico, while we are massing US invasion force can and will send in back-up-forces.
Trump knows almost nothing of the history of
US military in Latin America. He’s about to learn.
Watching Trump go up against his buddy Putin will be something worth watching.
This is Trump’s first real crisis (apart from legal).
In all my years of President watching (Since Truman) I’ve never seen any crisis of this sort
bungled so badly.
If it was the oil we wanted we could have locked it all up, as China and Russia has, with loans and ships loaded with grains and toilet paper.
Instead, we waited five years for Chavez to die or leave office. Now, another two years for Maduro
to leave town.
WE do business with all manner of dictators, China, Russia, Syria, Saudi Arabia, and on and on.
But not Venezuela.
Robert Inget on Wed, 1st May 2019 2:27 pm
Notice how China with nearly 47 BILLION $ stake
in Venezuelan oil has more or less stayed on the side-lines.
China NEVER asks dictators rude questions about ‘human rights’ or climate change or child labor or
elections etc.
China has quietly lent over a Trillion $ around S. America, Asia, Africa, NA, securing vital materials, developing markets for exports.
Before this “America First” bidness got going, the US did the same.
Robert Inget on Wed, 1st May 2019 2:41 pm
Check out price difference between gasoline and diesel.
https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_w.htm
(diesel needs HEAVY crude, gasoline does not)
By June we should begin to see genuine tightness
around Diesel
Gaia on Wed, 1st May 2019 3:51 pm
China is no threat to the world.
Gaia on Wed, 1st May 2019 4:25 pm
Coal is no threat to the climate
Gaia on Wed, 1st May 2019 4:39 pm
Demented Davy, I know it’s you using my name. STOP IT NOW!
makati1 on Wed, 1st May 2019 6:05 pm
Robert, the US pissed their pants when Putin sent two bombers to Venezuela. What will they do when it is 100? And maybe 10,000 troops, or more? Not to mention China. Perhaps these idiots in DC don’t remember the Cuban Missile Crisis? I do.
A war in Iran is 7,000 miles from the US.
A war in Venezuela is only 1,000 miles away.
So, does the empire go to war with Iran and/or Venezuela or…?
And what happens in the US when gas goes to $5+ and the body bags start coming home by the hundreds?
It could be a very “hot” summer in the land of the fee. ^_^
Duncan Idaho on Wed, 1st May 2019 7:03 pm
Venezuela – Guaidó Got Snookered – White House Starts Beating War Drums
https://www.moonofalabama.org/2019/05/venezuela-guaid%C3%B3-got-snookered-white-house-starts-beating-war-drums.html#more
Playing these idiots as fools is just too easy—-
Davy on Wed, 1st May 2019 7:17 pm
Gaia, I am not the one engaging in identity theft. JuanP is the one stealing your identity. Except you are JuanP Gaia, so guess what that makes you?
A sock playboy with mental issues.
Duncan Idaho on Wed, 1st May 2019 8:20 pm
Are we seeing the end of Pompeo and Bolton approaching after the humiliating failure of the latest coup d’état?
How long can Trump endure looking like à fool with these two incompetent advisors?
But we are dealing with Demented Donnie– so who knows?
Sissyfuss on Wed, 1st May 2019 8:34 pm
Gaia is no threat to pithiness.
makati1 on Wed, 1st May 2019 8:45 pm
Duncan, yes, who knows. We have a demented Missouri Jackass on here that should have been banned years ago, but…?