I just came across this channel and love it! I am in the process of expanding my commercial/politic and economic awareness. If I combine your videos with current events that are happening and are talked about in the newspaper, i feel like it is an interesting way of learning. Keep it going. I am probably going to slowly watch all your videos 🙌. The thing i like about your videos is how well-explained and tailor for people who might not have a high level of knowledge on the topic. Well done!
“Oil and Gas Industry makes $3 billion dollars a day in pure profit. Generates over $4.3 trillion dollars a year in revenue. It is the seventh largest industry in the world, ranked ahead of food production, automobile production, coal mining, and at 1.4 trillion, the pharmaceutical industry doesn't even crack the top ten. The industries listed ahead of oil and gas are completely dependent on oil and gas. The more they grow, the more we grow. That's the scale. That's the size of this thing. And it's only getting bigger.” -Tommy from Landman
And yet all these vulnerabilities and wars and instability still can't spur these blocs to invest in renewable like their geopolitical security depended on it, climate change notwithstanding. Everything is about oil, but only because oil is about money and corruption.
It is more or less open knowledge in Europe that it was ukrainians who blew up the north stream. The question is if it was ordered by zelensky and his commanders or if the ukrainians who hired the boat went rogue.
The Ukrainians? Please, even saying that it was Russia (which makes no sense given that they did not benefit from that sabotage) makes more sense given their capabilities. Imagine, the NATO fleet (Ships, submarines...) guarding those waters, do you think they would not have detected anything? At the very least, it can be doubted that Ukraine has the capacity to carry out such an operation, which would obviously be quite complex At this point, we can or should agree that the CIA had a lot to do with it At least it would explain the political issue
Russian fleet is operating with transponders on and being insured by non-western companies, thats how price cap is avoided. Research on this topic was not done by author.
The major flaw in the "Drill Baby Drill"; "unleash American energy" plan; is that we can not process the oil we produce here. It would take decades to convert the refineries that are here in the U.S.. This is the reason we still import 70% of our oil from other countries and opec. What is under our feet is the wrong kind of oil and way more expensive to refine. The companies that refine the oil we use; are global multinationals they are not going to do what leads to less profit for them I fear they would pack up and move operations to another country if we leaned on them to convert to processing domestic oil.
your numbers are way off. we import 25% of our oil from canada and little from opec. we export about 4 million barrel/ day of high priced sweet oil and buy about 3.5 million barrel per day of cheaper sour oil from canada .
You’re wrong, the oil we have is actually much cheaper and easier to refine but the issue is that our refineries are all set up to refine the stuff that’s harder. But that’s to our benefit because the easy stuff sells higher as a raw good so we sell the easy stuff abroad and we buy the cheap hard to refine stuff and do it here which is much more value adding
@ really does not matter since we don’t have the infrastructure capacity to be self sustaining off it. Basically we are lucky we are in this situation.
The US should have turned off the air defenses when the Houthis fired a missle at one of these Russian shadow ships. The environmental damage would have been unfortunate, but the cost to the Russian wallet would have been huge since the ships aren't insured.
They are. Just not by the west. It would also have blocked a lot of other shipping. In any case the Houthis aren't targeting them. Indeed the Chinese avoid that problem entirely, despite it being speculated that their attacks would especially hurt it and so they would join western efforts against them, by simply broadcasting their identity to the Houthis. They then leave those ships alone.
QQQ: how do the ghost ships avoid pirates (e.g., looking for ransom, or state-sponsored hijacking)? Or hostile submarines: takes sinking only 1 to scare the rest.
Using extralegal methods to disrupt Russia's shadow fleet would open the Russians to respond in kind. This would be much worse for global trade than even what the Houthis could achieve.
They're not traveling through an active warzone, so no military weasel will attack them, since that would initiate a likely war. As for pirates, they're mainly a problem in some areas around Africa to my knowledge, which is where these tankers don't have to utilize ghost mode. They only need to ghost when bring Russian crude from Russia to anywhere it gets refined, which is mainly India. Once it's refined in India, shipping it to the EU is perfectly legal, so they can transmit location data again which grants them protection and rescue from pirates by the maritime powers that be.
@@badluck5647Follow up Q: since Russia doesn't/can't acknowledge the shadow fleet's existence, wouldn't any destruction be like Israel destroying Parchin, i.e., can't retaliate for something they deny exists?
@@42ndGoofFollow up Q: Would knowing these vessels exist create the incentives for hijack? Also, assuming these vessels can't go through the Suez, wouldn't going around the Horn of Africa to India make them vulnerable? Can they sail far away from the African coast to get to the Indian Ocean? Thank you.
Love your channels!! But it cannot be said that "*Obama* lifted 40 year export ban on [U.S.] oil exports"(06:20). Repubs and Dems negotiated each getting a freebee in the bill. Repubs chose lifting oil export ban. Dems chose incentives for wind and solar. Obama signed spending bill but had nothing else to do with lifting ban. That was pure Repub.
One correction, US oil production is not as high cost as you're suggesting. The break-even for most shale wells is well below global average, so if Saudi Arabia wanted to hurt the US, it would need way more production spikes and it would hurt most other oil producers more than it would hurt the U.S. most of OPEC apart from Saudi Arabia would suffer from that before the US oil producers would. It would probably hurt Russia more since many of their fields are in the permafrost and if they have to shut those in, they would freeze up and they would have to redrill them, so undoing that potential damage would take years.
You are missing some context. In the 2010s, there was little focus on profitability compared to volume, so American frackers were pumping oil from expensive reserves. After OPEC crashed the price, many of these frackers went out of business, and many of these low yielding reserve became untouchable. If you also look into how leveraged some of these capital-intensive projects are, then you would better understand the danger of the Saudis dumping oil on the market.
@@badluck5647 I don't see how anything you said clashed with what I said. Inefficient drilling operations going bust is not an indicator of overall US production. A Saudi oil dump would obviously cull the weakest US oil producing wells, but the majority of production would be fine, firms would consolidate, and it would just be only a bad quarter. US shale and Saudi Arabia have some of the lowest break-even production cost fields in the world. Sure, it would hurt, but almost everyone else would be hurting WAY more.
So the west could accelerate the transition to EVs (like China is) to reduce long-term dependency on Russian and Saudi oil in line with the decline in US shale production. This could reshape global energy markets and the international order.
The increase of EV's hasn't shown any decrease in any nations overall oil needs yet. China's reduction in oil imports is specifically due to an economic slowdown caused by capital flight due to increased competition in SE Asian labor markets and higher education standards across the entire region. In the Western hemisphere, Mexico has almost completely replaced China in all but the lowest value-add markets. Infrastructure parity is also an issue for China but that's mostly a good problem for a nation to have. China has broadly built the necessary public works needed for the next 50 years. Once all the dams, roads and power plants are built, energy imports drop significantly but for China it's become a labor issue that's hitting the Chinese people hard. I have a lot of colleagues there trying to get int visas approved to work in neighboring countries but they're being slow rolled on both ends. It's tough there right now. The Chinese govt hasn't exactly been making friends with nations they share a boarder with, Pakistan excluded. Things aren't as friendly with Russia as everyone would like us to believe either. That's a relationship of convenience that serves the Chinese much more than the Russians. You won't see China sending troops to Russia anytime soon. But you will see China buy reduced cost Russian oil and even sell Russia weapons and gear to fill the gaps, while Russia transferers technical knowledge for aerospace and other extremely expensive R&D endeavors that take decades and whole percentages of GDP to realize. Most of China's electric power delivery infrastructure is fueled by coal, something China has a lot of. The US no longer mines coal since US refining capacity for dirty oil is massive and well maintained, so US electric power will continue to be generated using oil unless nuclear power makes a comeback, which may be in progress. But coal just isn't profitable in the US anymore. The US is an exporter on the global market so extraction and refining capacity won't necessarily affect import levels so much as they'll inflate American bank accounts.
you could have added the reaction of the saudi prince to delegation from USA and from russia. they are clearly pissed at americans with their moves. they basically helped russia fight the war
Wah,, sangat mudah,, yg penting siapkan mental untok bisnis global tercepat dan tepat & garansi ❤❤❤❤❤ 🌍🌏🌐🎉🎉🎉,, Cuma segitu aja,, betapa mudahnya soal valuta apapon,, malah masih banyank yg memake kon sep kolonialisme yg sangat bodoh😂 padahal ada solusi yg padti mengapa, mereka tetap ngotot pileh jadi orang bodoooh?... 😂😂😂😂❤❤❤ padahal INFRASTRUKTOR JUGAMUDAH, ta'ada yg sulit bagi TUHAN❤❤❤
Ukraine is important to Russia due to having very few port options that do not freeze over in winter. The port city of Baltiysk is Russia's only port on the Baltic Sea that remains ice-free in winter. Then Crimean Peninsula allows Russia to move cargo year round that is a major reasoning for Russian control. It was all Russia's till the Ukrainian independence in the 90's. USSR Russian money built all of Ukraine.This is why they don't mind tearing it down. If I can't have it; then you can't either thinking.
This is becoming less and less important each year thanks to global warming. In just a couple of years, northern sea routes will be for the whole year, without massive icebreakers. This, plus the thawing of massive permafrost land is why Russia doesn't care about climate change. The benefits outweighs the drawbacks for the upper class.
Weapons of Mass Destruction (WMD) is a term for three types of weapons, Nuclear, Biological and Chemical (NBC). Gen Powell was a military man who knew what the term WMD meant Iraq used chemical weapons against Iran and against the Kurds. That proves Saddam had WMD and that he was willing to deploy WMD It is easy to find web links for these Do a little research before accusing America of lying about Saddam’s WMD.
You’ve had lots of spelling errors recently and it damages your credibility at least a little bit. Maybe fire whatever editor you hired from lord knows where and just type the text yourself lol.
Agreed! Isreal/Israel + Quesitons/Questions. What else did i miss? Creating such a video or one for the main channel is so much work, surely someone should proofread one last time before uploading. Come on!
Now THIS is what I expected from the channel. The economics in the main channel and the geopolitics of the same economic topic here
Calling Palestinians Arabians is kinda funny tho
Happy to see this channel back. Hope to see more content
I enjoyed that. Thank you. Videos here are very rare, but worth the wait.
Now this is Energy economics explained I love the global feel of your videos. Do more please
I just came across this channel and love it!
I am in the process of expanding my commercial/politic and economic awareness. If I combine your videos with current events that are happening and are talked about in the newspaper, i feel like it is an interesting way of learning.
Keep it going. I am probably going to slowly watch all your videos 🙌.
The thing i like about your videos is how well-explained and tailor for people who might not have a high level of knowledge on the topic. Well done!
“Oil and Gas Industry makes $3 billion dollars a day in pure profit. Generates over $4.3 trillion dollars a year in revenue. It is the seventh largest industry in the world, ranked ahead of food production, automobile production, coal mining, and at 1.4 trillion, the pharmaceutical industry doesn't even crack the top ten. The industries listed ahead of oil and gas are completely dependent on oil and gas. The more they grow, the more we grow. That's the scale. That's the size of this thing. And it's only getting bigger.” -Tommy from Landman
4:19 OPEC has a pretty great logo. It never even occurred that they would have one until now. Makes sense though.
Very happy to see a new video from y'all!
Glad to see a new video here, I like this style more than the previous videos, hope for more in the same direction
I actually prefered the older style, I really liked the videos on invasion plans and tactics. This one could have been an EE video.
Power over Spice, is power over all.
Much better! Glad it's back!
Really happy to see another video, I hope this channell makes it!
And yet all these vulnerabilities and wars and instability still can't spur these blocs to invest in renewable like their geopolitical security depended on it, climate change notwithstanding.
Everything is about oil, but only because oil is about money and corruption.
you're the guy runs economics explained channel?
love both of them ❤️
The best way to not have a shadow tanker fleet is to ban selling ships to non insured customers
Do you know who the largest shipbuilder in the world is? China. The west is nowhere in that industry, except for cruise ships.
How are you going to ban other countries to sell their ships to non insured customers?
A comment to increase engagement for the algorithm God! Thx so much for this content!!
Same here! I really appreciate the channel quality andreally interesting information it has brought to me over the years.
6:00 - This could be called a myth. Most of the Iraqi oil field contracts after Saddam went to non-American companies, including Chinese.
War in Iraq could have been against the Euro as an oil currency
Interesting.
Failed to explain how Russian oil is more profitable than American oil per barrel because of cost of production and transportation.
Love it!
This should probably be posted on the main channel. The content is similar enough and would get 20 x more views.
The ever-inventive ways humans engage in despotism will likely never cease to amaze me.
Happy to see the channel back with improved scripts and a much better presenter.
It is more or less open knowledge in Europe that it was ukrainians who blew up the north stream. The question is if it was ordered by zelensky and his commanders or if the ukrainians who hired the boat went rogue.
false
The Ukrainians?
Please, even saying that it was Russia (which makes no sense given that they did not benefit from that sabotage) makes more sense given their capabilities.
Imagine, the NATO fleet (Ships, submarines...) guarding those waters, do you think they would not have detected anything?
At the very least, it can be doubted that Ukraine has the capacity to carry out such an operation, which would obviously be quite complex
At this point, we can or should agree that the CIA had a lot to do with it
At least it would explain the political issue
That a CIA Mossad job lol.
It's NORD stream pipeline.
Russian fleet is operating with transponders on and being insured by non-western companies, thats how price cap is avoided. Research on this topic was not done by author.
Selective research.
Bots ^
Россия без Путина. Если согласны - ответьте на этот пост, лайкните или дизлайкните его.
I love the Quesitons.
Cool
The major flaw in the "Drill Baby Drill"; "unleash American energy" plan; is that we can not process the oil we produce here. It would take decades to convert the refineries that are here in the U.S.. This is the reason we still import 70% of our oil from other countries and opec. What is under our feet is the wrong kind of oil and way more expensive to refine. The companies that refine the oil we use; are global multinationals they are not going to do what leads to less profit for them I fear they would pack up and move operations to another country if we leaned on them to convert to processing domestic oil.
What does it have to do with "Drill baby drill"?
your numbers are way off. we import 25% of our oil from canada and little from opec. we export about 4 million barrel/ day of high priced sweet oil and buy about 3.5 million barrel per day of cheaper sour oil from canada .
You’re wrong, the oil we have is actually much cheaper and easier to refine but the issue is that our refineries are all set up to refine the stuff that’s harder. But that’s to our benefit because the easy stuff sells higher as a raw good so we sell the easy stuff abroad and we buy the cheap hard to refine stuff and do it here which is much more value adding
@ really does not matter since we don’t have the infrastructure capacity to be self sustaining off it. Basically we are lucky we are in this situation.
The US should have turned off the air defenses when the Houthis fired a missle at one of these Russian shadow ships. The environmental damage would have been unfortunate, but the cost to the Russian wallet would have been huge since the ships aren't insured.
They are. Just not by the west. It would also have blocked a lot of other shipping. In any case the Houthis aren't targeting them. Indeed the Chinese avoid that problem entirely, despite it being speculated that their attacks would especially hurt it and so they would join western efforts against them, by simply broadcasting their identity to the Houthis. They then leave those ships alone.
Video begins at 06:50 or so. The first part is just padding.
1:50 slide says "quesitions. Aussie spelling now using 2 'i' ?
Holy!
NordStream 2 a „mystery“ 🤣😂
"Isreal"?
QQQ: how do the ghost ships avoid pirates (e.g., looking for ransom, or state-sponsored hijacking)? Or hostile submarines: takes sinking only 1 to scare the rest.
Using extralegal methods to disrupt Russia's shadow fleet would open the Russians to respond in kind. This would be much worse for global trade than even what the Houthis could achieve.
They're not traveling through an active warzone, so no military weasel will attack them, since that would initiate a likely war.
As for pirates, they're mainly a problem in some areas around Africa to my knowledge, which is where these tankers don't have to utilize ghost mode. They only need to ghost when bring Russian crude from Russia to anywhere it gets refined, which is mainly India. Once it's refined in India, shipping it to the EU is perfectly legal, so they can transmit location data again which grants them protection and rescue from pirates by the maritime powers that be.
@@badluck5647Follow up Q: since Russia doesn't/can't acknowledge the shadow fleet's existence, wouldn't any destruction be like Israel destroying Parchin, i.e., can't retaliate for something they deny exists?
@@DixonLu You think plausible deniability would stop Russian retaliation?
@@42ndGoofFollow up Q: Would knowing these vessels exist create the incentives for hijack? Also, assuming these vessels can't go through the Suez, wouldn't going around the Horn of Africa to India make them vulnerable? Can they sail far away from the African coast to get to the Indian Ocean? Thank you.
What do you mean by dark fleet. It's russian oil tankers supplying oil to the countries that need them desperately.
Love your channels!! But it cannot be said that "*Obama* lifted 40 year export ban on [U.S.] oil exports"(06:20). Repubs and Dems negotiated each getting a freebee in the bill. Repubs chose lifting oil export ban. Dems chose incentives for wind and solar. Obama signed spending bill but had nothing else to do with lifting ban. That was pure Repub.
Cuma tess data economic explend ok?. ❤
Why is the world backward in the opening sequence?
One correction, US oil production is not as high cost as you're suggesting. The break-even for most shale wells is well below global average, so if Saudi Arabia wanted to hurt the US, it would need way more production spikes and it would hurt most other oil producers more than it would hurt the U.S. most of OPEC apart from Saudi Arabia would suffer from that before the US oil producers would. It would probably hurt Russia more since many of their fields are in the permafrost and if they have to shut those in, they would freeze up and they would have to redrill them, so undoing that potential damage would take years.
You are missing some context. In the 2010s, there was little focus on profitability compared to volume, so American frackers were pumping oil from expensive reserves. After OPEC crashed the price, many of these frackers went out of business, and many of these low yielding reserve became untouchable. If you also look into how leveraged some of these capital-intensive projects are, then you would better understand the danger of the Saudis dumping oil on the market.
@@badluck5647 I don't see how anything you said clashed with what I said. Inefficient drilling operations going bust is not an indicator of overall US production. A Saudi oil dump would obviously cull the weakest US oil producing wells, but the majority of production would be fine, firms would consolidate, and it would just be only a bad quarter. US shale and Saudi Arabia have some of the lowest break-even production cost fields in the world. Sure, it would hurt, but almost everyone else would be hurting WAY more.
Most other oil producers have lower costs than the us. Only a few like Norway or the UK have similar costs.
Will every video take an era to make? I even forgot that I was subscribed to this channel.
Don't be rude to him :(
Doing real research takes time. Most other channels will just repeat hearsay to save time.
So the west could accelerate the transition to EVs (like China is) to reduce long-term dependency on Russian and Saudi oil in line with the decline in US shale production. This could reshape global energy markets and the international order.
The increase of EV's hasn't shown any decrease in any nations overall oil needs yet. China's reduction in oil imports is specifically due to an economic slowdown caused by capital flight due to increased competition in SE Asian labor markets and higher education standards across the entire region. In the Western hemisphere, Mexico has almost completely replaced China in all but the lowest value-add markets.
Infrastructure parity is also an issue for China but that's mostly a good problem for a nation to have. China has broadly built the necessary public works needed for the next 50 years. Once all the dams, roads and power plants are built, energy imports drop significantly but for China it's become a labor issue that's hitting the Chinese people hard. I have a lot of colleagues there trying to get int visas approved to work in neighboring countries but they're being slow rolled on both ends. It's tough there right now. The Chinese govt hasn't exactly been making friends with nations they share a boarder with, Pakistan excluded. Things aren't as friendly with Russia as everyone would like us to believe either. That's a relationship of convenience that serves the Chinese much more than the Russians. You won't see China sending troops to Russia anytime soon. But you will see China buy reduced cost Russian oil and even sell Russia weapons and gear to fill the gaps, while Russia transferers technical knowledge for aerospace and other extremely expensive R&D endeavors that take decades and whole percentages of GDP to realize.
Most of China's electric power delivery infrastructure is fueled by coal, something China has a lot of. The US no longer mines coal since US refining capacity for dirty oil is massive and well maintained, so US electric power will continue to be generated using oil unless nuclear power makes a comeback, which may be in progress. But coal just isn't profitable in the US anymore. The US is an exporter on the global market so extraction and refining capacity won't necessarily affect import levels so much as they'll inflate American bank accounts.
Unless potus has premonitions, there's no mistery regarding the nord stream
The sanctions were a brilliant idea, yes it may be de-industrializing the EU but it also made Putin angry so mission accomplished
0:30 *Israel not Isreal
Good catch! It also says Quesitons instead of questions just before the 2 minute mark.
Algorithm
you could have added the reaction of the saudi prince to delegation from USA and from russia. they are clearly pissed at americans with their moves. they basically helped russia fight the war
Time Come 🇯🇲
8:37 you either forgot to include 4 more provinces of russia since 2022 on your map or you don’t follow politics on a geopolitics channel…cmon man
Wah,, sangat mudah,, yg penting siapkan mental untok bisnis global tercepat dan tepat & garansi ❤❤❤❤❤ 🌍🌏🌐🎉🎉🎉,, Cuma segitu aja,, betapa mudahnya soal valuta apapon,, malah masih banyank yg memake kon sep kolonialisme yg sangat bodoh😂 padahal ada solusi yg padti mengapa, mereka tetap ngotot pileh jadi orang bodoooh?... 😂😂😂😂❤❤❤ padahal INFRASTRUKTOR JUGAMUDAH, ta'ada yg sulit bagi TUHAN❤❤❤
:)
yeah
Ukraine is important to Russia due to having very few port options that do not freeze over in winter. The port city of Baltiysk is Russia's only port on the Baltic Sea that remains ice-free in winter. Then Crimean Peninsula allows Russia to move cargo year round that is a major reasoning for Russian control. It was all Russia's till the Ukrainian independence in the 90's. USSR Russian money built all of Ukraine.This is why they don't mind tearing it down. If I can't have it; then you can't either thinking.
Also Odessa. They'd really like to have Odessa back too.
This is becoming less and less important each year thanks to global warming. In just a couple of years, northern sea routes will be for the whole year, without massive icebreakers.
This, plus the thawing of massive permafrost land is why Russia doesn't care about climate change. The benefits outweighs the drawbacks for the upper class.
Weapons of Mass Destruction (WMD) is a term for three types of weapons, Nuclear, Biological and Chemical (NBC). Gen Powell was a military man who knew what the term WMD meant
Iraq used chemical weapons against Iran and against the Kurds. That proves Saddam had WMD and that he was willing to deploy WMD
It is easy to find web links for these
Do a little research before accusing America of lying about Saddam’s WMD.
You’ve had lots of spelling errors recently and it damages your credibility at least a little bit. Maybe fire whatever editor you hired from lord knows where and just type the text yourself lol.
Agreed! Isreal/Israel + Quesitons/Questions. What else did i miss?
Creating such a video or one for the main channel is so much work, surely someone should proofread one last time before uploading. Come on!