Oil Archives - Granite Grok

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oil rig prices

War, Oil, Inflation, And Global Economy

War is no longer a battle between two foes while the world watches for the outcome, especially when the struggle involves countries in the Middle East. With Joe Biden putting the American petroleum industry in chains, the Middle East has regained prominence as the region supplying the majority of oil to much of the world.

oil rig prices

The Oil-Price Shock Is a Direct Consequence of Interventionism.

Oil prices are soaring, and, as always, we read in many articles that OPEC and Russia are to blame. However, if OPEC and its allies were almighty and the drivers of oil prices, why have Brent and West Texas Intermediate (WTI) crude plummeted in 2022? OPEC only reacts to demand, but it is not a price-setter. It is a price-taker. WTI …

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Donald Trump, Live in Alabama - Save America Rally

Why the Establishment Can’t Solve the Trump “Problem”

This week at the Republican Primary Debate, Nikki Haley referred to Donald Trump as the “most disliked politician in America”, apparently missing the irony of the moment given he didn’t attend the event because his popularity among the American voter is off the charts relative to her and the rest of the field. 

oil rig prices

It’s Another Biden Foreign Policy Success.

Both the U.S. government and OPEC are making price increase noises about crude oil. CNN and Morning Star Research are saying OPEC+ announced a cut in production of about 1.4 million barrels per day this week. The Saudi’s, by themselves, plan to cut 1 million barrels per day.