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THE 2022 OIL CRISIS:
On the most basic level, the United States uses almost 20 million barrels of oil, every single day…which, makes us the number-one consumer of oil in the world…but, there’s catch: since we only PRODUCE 18.6 MILLION barrels of oil per day…we’ve become reliant on OTHER COUNTRIES to fill that deficit.
Now, this isn’t inherently a bad thing, because financial speaking, foreign oil is WAY CHEAPER than we pay to manufacture locally here in the United States - but, that means we're subject to price volatility should there be any disruptions.
In terms of how they intend to bring prices down:
1. NOPEC
This bill - if signed into law - would allow the United States the option to sue Opec - and its members - for fixing and manipulating the price of oil, similar to how they work to dissemble monopolies who gain too much control within a specific sector.
However, the downside is that - it might be near impossible to enforce any decisions against a foreign nation, it’s heavily opposed by the US-Based Oil Companies - and, if they actually pursue this further - there could be serious consequences from other nations who could make the situation worse.
2. OIL RESERVES
15 million barrels are currently scheduled to be released in December. As they say: “The upcoming oil reserve release is aimed at ensuring there's enough oil on the market to ensure gasoline prices don't spike up.
3. MORE PRODUCTION
According to the US Energy Secretary, “the U.S. was working to identify at least 3 million barrels per day of new global oil supply, with assurances from several high-level oil and gas executives that their companies were set to dramatically increase investments and bring online new rigs.”
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*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: http://www.public.com/graham
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The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF
THE 2022 OIL CRISIS:
On the most basic level, the United States uses almost 20 million barrels of oil, every single day…which, makes us the number-one consumer of oil in the world…but, there’s catch: since we only PRODUCE 18.6 MILLION barrels of oil per day…we’ve become reliant on OTHER COUNTRIES to fill that deficit.
Now, this isn’t inherently a bad thing, because financial speaking, foreign oil is WAY CHEAPER than we pay to manufacture locally here in the United States - but, that means we're subject to price volatility should there be any disruptions.
In terms of how they intend to bring prices down:
1. NOPEC
This bill - if signed into law - would allow the United States the option to sue Opec - and its members - for fixing and manipulating the price of oil, similar to how they work to dissemble monopolies who gain too much control within a specific sector.
However, the downside is that - it might be near impossible to enforce any decisions against a foreign nation, it’s heavily opposed by the US-Based Oil Companies - and, if they actually pursue this further - there could be serious consequences from other nations who could make the situation worse.
2. OIL RESERVES
15 million barrels are currently scheduled to be released in December. As they say: “The upcoming oil reserve release is aimed at ensuring there's enough oil on the market to ensure gasoline prices don't spike up.
3. MORE PRODUCTION
According to the US Energy Secretary, “the U.S. was working to identify at least 3 million barrels per day of new global oil supply, with assurances from several high-level oil and gas executives that their companies were set to dramatically increase investments and bring online new rigs.”
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
Again ppl started talking about this “25 days left” story about 10 days ago…so ummm..10 days left
Imagine if we put half the money that ends up going to Exxon share buy backs into R&D for alternatives.
After November 8th ish is really gonna hit the fan
This is the worst administration in history. It’s self inflicted… by making America not energy independent anymore by fighting against fossil fuels and pushing a green agenda… this administration has deliberately caused inflation and the impending recession. Let their deliberate destruction of America be known by casting your ballot for the right candidates in this midterm.
Shouldn't have ever shut down the keystone. Fuggets.
This is going on and our president is concerned about concert ticket upcharges
Keep voting Democrat losers🤙
sound like a third world war to me
Graham forgot to mention the democrats are doing everything they can to cut production and use up all out supply
Remember that time we had a president who fixed all this and then someone came into office and stopped all drilling in 🇺🇸, I can’t think of his name
Solar and wind are not the answer. Nuclear is the answer. We need to stop living in the 70's; scared of nuclear power.
Really? First it's the plague, then its stocks, then it's the housing market, then it's stocks again, a worldwide recession, no wait depression! then gas, then nuclear war, then inflation, then grain, then nuclear war, now gas again. I genuinely, from the bottom of my heart, will not be spending one more single second of my life sifting through catastrophizing youtube channels in an effort to "stay informed." Let the world burn gloriously while I play my fiddle along it's parapets.
Just go hydrogen like Japan is doing.
Your video is fake news from fake news the leader of OPEC looks like Macaulay Culkin
Good job Joe Biden, you've single handedly brought America down to it's knees before it's enemies.
If the US says it only has 25 days of diesel supply. I don't believe it. It's like Zimbabwe saying they only have $25 on their forex reserves. It's all just a propaganda.
Don't forget biden cancelled keystone xl which provided American a lot of oil from Canada..
Roach is a liar
We didn't "use" the oil we pulled out of the Strategic Oil Reserve, we sold it to China, which is literally insane.
how in the world are u supposed to save when prices of EVERYTHING are breaking your bank graham???
Economic Ninja talked about this a couple days ago.. wonder if that’s where they got this idea for a video.
You can say many bad things about Trump but he would never let it happened
Gee, Graham if the US exports oil according to the unpredictable excess supply then no one would import on such an unpredictable basis unless they are desperate. Most countries has a buffer to deal with excess and short supply of oil. If the US produces an unsuitable oil then why not make a refinery to do just that, it would make a lot of sense. The US exports oil on a contract basis to pay debts or to honor the oil investments of other countries or some other political reasons. The world's oil consumption is constant and fairly predictable. If there are abnormal demand per month being less or more it's because the world is in recession or in a state of war.
Current Renewables are so unreliable and expensive, if millennials all bought EV's then everyone would experience Electricity/gas/coal shortages and rising electricity prices and air pollution, otoh Nuclear is clean and cheap.
Do you really believe in electric cars?
If I will be very generous, there is enough lithium for 500 years? Then what, reinvent car energy source again.
I work in the oil and gas industry I think you missed a couple things on your research so here in Texas when we had that big storm we lost 14% of our energy right off and all of that was renewable the windmills were frozen over they also added a lot of regulations in the US in 2020 that cut back Productions also the fact that they cannot drill on Federal Land anymore unless they pay this outrageous fee
I know you don’t like to interject politics but you failed to state the influence the present administration being against the oil industry in general, & therefore endangering us all with an energy crisis before an alternative is sufficiently available.
Next few months? Graham I think people are going to need to weather the storm much longer than a few months
how I solved the problem of high petrol prices: I sold my 2017 car (at a very good price) and bought an old but working wreck for €600 😀 I invested the remaining money in an oil company, the dividend covers the petrol consumption of the whole family 😁 one day we will save the planet, but not today 😂
Globalization has fucked us over a lot over the years. And this war… everyone knew it was coming
You are missing a big part of all this. The current government cutting off the gas production, and the current government selling our reserves to China just recently. Green is great but not when you cut your throat doing it. Otherwise it was pretty good.