The Oil Price as Rope in A Tug-of-War

Remember when the oil price shot up to an unprecedented level of nearly $150 a barrel a decade ago, right in the middle of the Global Financial Crisis?  Odd timing, huh?  How, during that general fiscal fear & mayhem, this manic run-up in price of the most important industrial commodity on earth forced you to feel serious pain at the fuel pump alongside property prices dropping, only to then watch as the oil price plummeted more than 70% within six months?

Pure supply & demand, was it all?  Or something else?  And why, after over a year and a half of oil’s price remaining below $60 a barrel, has the price started to rise in the fashion that it has again over the past year?  Any coincidence between this oil price spike and the fact that the stock market is starting to correct as it did ten years ago?

No, correlation – whether tight or loose - doesn’t equal causation, yet neither are oil’s prices in Brent or WTI futures purely market driven, either.  As we’ve said, the oil price is a key geopolitical tool.  Certain mega-banks do quite well during high oil prices, based simply on what the petrodollar standard itself even is.  Some of those banks were also in pole positions to hoover up merging or consolidating assets during & after the ’08 Crisis.  They’ll certainly want to buy stuff on the cheap this time around as well, and presumably after fresh rents from higher oil prices.

In this 32nd episode of Money & Fear, and as always, in the program’s cited Show Notes listed under the videos on our website, we’ll erect a bookend to the earlier episode back in May of this year on the politicized nature of the oil price, the players involved, and certainly global pricing & trading platforms seeking to sustainably rival the dollar-based regime which accounts for such video-game-like periodic volatility in black gold’s stated value.

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Show Notes

How the United States manipulates global oil prices

Qatar, Russia defend OPEC, deny manipulation of oil prices

Oil Price History With Highs and Lows Since 1974:  What Makes Oil Prices So Volatile

It’s Time To Talk About Petrodollar Flows

The Strange Tale of the “Phantom Oil” Glut – and Why It’s About to Vanish

The IEA’s Warning To Oil Producers

More than ever, big oil exporters must diversify economies: IEA

Banks expected to share tiny proportion of mammoth Saudi Aramco IPO

Economic Watch: China increases agricultural imports to benefit itself, the world

David Stockman: Stocks will plunge 50% in this 'daredevil market'

If History Repeats Itself – The Next Financial Crisis is Around the Corner

Opinion: What the Fed doesn’t know about inflation could cost you your job

The Fed Is Serious - It Wants Higher Inflation

Today, inflation. Tomorrow, crisis?

Key facts about the great oil crash of 2014

Targeting Iran Deconstructed: What They Don’t Want You to Know

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

Petro-yuan may prove a bigger headache to US than trade wars

Can China really become a rival to Brent and WTI?

The Fake Oil Crisis of 1973

The History of Crude Oil Prices Since the 1900s

Crude Oil Prices - 70 Year Historical Chart

The Oil “Price” Is A Key Political Tool

BP says Iran oil bans to trigger extreme price volatility

Oil Price Charts

What countries are the top producers and consumers of oil?

Saudis may seek funding in Chinese yuan

Spotlight: Chinese yuan rises in global oil markets as Saudi seeks funding in RMB

OPEC 'powerless to prevent' oil prices jumping toward $100 a barrel this year

Goldman Sachs: Brent To Hit $80 Before Year-End

Trump tells UN General Assembly OPEC is 'ripping off' the world

Oil hits record above $147

Russia Government Debt-to-GDP

United Kingdom Government Debt-to-GDP

USA Government Debt-to-GDP

With Russia Already Onboard, Saudi Arabia Key to Petro-Yuan Success

OPEC and Russia shrug off US pressure to cut oil prices

Exclusive: Saudi Arabia, Russia agreed in September to lift oil output, told U.S.

Shanghai International Energy Exchange

Chinese yuan rises in global oil markets as Saudi seeks funding in RMB

Rise of petro-yuan provides dilemma for Saudi Aramco

Saudi Arabia Reportedly Puts its Aramco IPO on Hold

The Next U.S. Clash With China Will Be All About Iran’s Oil

U.S. Expects China to Buy Even More Iranian Oil After Sanctions

China keeps buying Iranian oil, and the trade war adds a reason to defy US sanctions

China Stops Buying U.S. Oil, Two Months After Record Total

Are Russia And China Trying To Kill The Dollar?

Look How the Big Banks are Manipulating Oil Prices Now

Russian energy minister Novak: No need to freeze or cut oil output levels

Emerging economies stockpiling gold in expectation of US dollar banking system collapse – analysts

Can Russia stop using the US dollar?

Putin backs plan to de-dollarize Russian economy

Papers

The Most Dangerous Idea in Federal Reserve History: Monetary Policy Doesn’t Matter

The Great Inflation in the United States and the United Kingdom Reconciling Policy Decisions and Data Outcomes

Videos

How Oil Companies Manipulate Oil & Gas Prices

What's behind the falling price of oil? - Inside Story

Taleb Says World Is More Fragile Today Than in 2007

‘Petrodollar’ Exposed: The Root of Special US-Saudi Relationship

Books

The Gold Cartel: Government Intervention on Gold, the Mega Bubble in Paper, and What This Means for Your Future by Dimitri Speck

A Century of War by F. William Engdahl

*For additional footnotes and links refer to the Newsbud article link above

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