Why Oil Prices Have Remained Stable Despite The Israeli-Hamas-Hezbollah-Iran War

On Tuesday, mrcTV posted an article about oil prices–they have remained relatively stable despite the unrest in the Middle East.

The article reports:

Sudden, violent, disruptive events in the Middle East cause big oil price jumps and front-page headlines about gasoline prices – don’t they? But, not lately. Like the dog that did not bark, why not?

Russia, one of the world’s three largest oil producers, invaded Ukraine and started a war which has been going for two-and-a-half years now. Europe imposed sanctions on Russian oil and gas supplies and caused re-arrangement of oil and gas supply relationships worldwide. Hamas, an Iranian subsidiary, attacks Israel and initiates Israeli military action in Gaza. Houthis in Yemen, another Iranian subsidiary, supplemented Hamas’ efforts by attacking shipping coming down from the Suez Canal into the Red Sea.

Hezbollah, a third Iranian subsidiary, fired missiles into Israel from its bases in Lebanon. Those attacks increased in recent months. Israeli Defense Forces crossed into Lebanon and are reducing Hezbollah’s ability to threaten them.

Israel killed leaders of Hamas and Hezbollah. Iran fired 160 missiles into Israel. Everybody wondered: How will Israel respond? Reportedly, the Biden-Harris Administration demanded that Israel not attack Iran’s oil export or refining facilities or their nuclear facilities. Israel struck Iranian military, Iran Revolutionary Guard, and weapons manufacturing facilities.

All this turmoil and disruption is in the Middle East, which produces over 30% of the world’s oil.

No big change of oil prices, however. No front-page screaming headlines (or today’s online equivalent) about oil or gasoline price increases. Television talking heads do not mention oil prices. They are down a bit.

After years of oil and gasoline price sensitivity to Middle East instability, what is different? The United States oil industry rode to rescue the world economy from its hostage status to Middle East and Russian producers. United States oil production increased from about five million barrels/day (mb/d) to over 13 mb/d over the past 20 years. The U.S. is now the world’s largest oil producer. That eight mb/d increase is more than twice the Iranian production rate and is all actively marketed. That production increase developed a five mb/d surplus capacity in OPEC producers alone.

Energy independence makes a difference. We are not drilling enough to bring the prices down to where they were in 2020, but we are drilling enough to keep oil prices stable when the Middle East is at war (or when a country simply raises the price).

Oil prices never really go back to where they were–the 40-and-50-cents-a-gallon prices before the Arab oil embargo are never coming back, but at least we are producing enough oil to avoid the price hikes of an embargo.

The Numbers On Child Abuse

I don’t know if I am a minority or a majority, but I believe that gender reassignment surgery or drugs given to children under 21 is child abuse. A child can’t buy cigarettes or alcohol until they are 21, why are they allowed to make a decision that will make them a major medical patient for the rest of their life? Gender reassignment is not a one-time thing–the body keeps producing the hormones and testosterone that correspond with the person’s actual sex, so drugs have to be prescribed to overcome nature. The person becomes hooked on prescription drugs for life.

On October 8th, MRCTV posted an article about the number of children who are undergoing gender reassignment procedures in America.

The article reports:

Nearly 14,000 minors nationwide have had gender reassignment procedures performed on them in the past four years, according to a new first-of-its-kind database published Tuesday.

Do No Harm, a coalition of 13,000 doctors, nurses physicians, and concerned citizens across all 50 states and 14 countries, created the database as part of its mission “to safeguard healthcare from ideological threats.”

The study examines gender reassignment procedures – such as puberty/hormone blockers and gender reassignment surgeries like mastectomies and penile reconstruction – performed on minors (under 18), including one seven-year-old child.

The article includes the following list:

Top 10 Most Gender Reassignment Procedures Performed on Minors (Per Capita, 2019-23)

    1. Oregon 899
    2. Vermont 6,183
    3. Washington 1,082
    4. Delaware 8,918
    5. Massachusetts 9,790
    6. New Hampshire 10,678
    7. Ohio 11,568
    8. Michigan 13,053
    9. Alaska 13,334
    10. Maine 13,761

Unless parents stand up to this insanity it will continue, and much of what is being done to these children is irreversible. When you allow your 15-year-old daughter to become your son, have you considered that at 30 she might want to have children? That probably won’t be possible. Think carefully before you support the idea that a child can intelligently decide to change their sex.

The Growing Federal Budget Deficit

On Friday, MRCTV reported that the federal deficit has grown dramatically during the first eight months of Fiscal Year 2023.

The article reports:

The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2023 (FY23), nearly three times higher than it was in the first eight months of fiscal year 2022 (FY22), the Congressional Budget Office (CBO) reported Thursday.

From October 2022 through May, the FY23 federal deficit was $1.161 trillion – $735 billion higher than $426 billion shortfall recorded the previous year, even after $63 billion of expenditures were shifted into FY22.

In May alone, the federal deficit was $236 billion, CBO estimates – $170 billion higher than the amount recorded in May 2022. Revenues were $81 billion lower this May than they were in 2022. Outlays increased by $89 billion.

In the first eight months of FY23, revenues were 11% lower and expenditures were 9% higher than in the same period year-earlier. Receipts were $380 billion lower (a larger decline than the CBO says it expected), while expenditures were $355 billion higher.

“Outlays for the largest mandatory spending programs increased by a total of $193 billion,” a 12% increase, the CBO reports.

In particular, interest paid on the public debt rose by $112 billion (up 34%), “mainly because interest rates are significantly higher.”

Expenditures rose in other key categories, as well:

    • Spending for Social Security benefits rose by $85 billion (11%),
    • Medicare outlays increased by $77 billion (17%),
    • Medicaid outlays increased by $31 billion (8%),
    • Outlays of the Federal Deposit Insurance Corporation (FDIC) rose by $53 billion, as a result of facilitating the resolution of bank failures in the spring of 2023.

On the revenue side, federal government collection of individual income and payroll (social insurance) taxes together declined by $299 billion (10%) and collections of corporate income taxes increased, on net, by $5 billion (2%).

The Biden administration’s economic policies have been a disaster for the government, the private sector, and the American citizen. Americans are dealing with rampant inflation, corporate layoffs, and rising taxes. Meanwhile, cities are trying to cope with inflation without imposing crippling tax hikes. Unless something changes, America’s economic future does not look good.

Would Anyone Actually Want This Job?

On Tuesday, MRCTV reported that the United Nations has an interesting job listing on its website. The listing is for a “Partnership Specialist” to bring gender equality to Afghanistan.

This is a portion of the listing:

UN Women, grounded in the vision of equality enshrined in the Charter of the United Nations, works for the elimination of discrimination against women and girls; the empowerment of women; and the achievement of equality between women and men as partners and beneficiaries of development, human rights, humanitarian action and peace and security.

UN Women is dedicated to advancing gender equality and women’s empowerment in Afghanistan. Staff and consultants of the Afghanistan Country Office (ACO) are expected to contribute to a professional working environment in which the strengthening of national capacities and human potential is prioritized. Respect for diversity and human dignity is required, as is the active pursuit of a collaborative and inclusive approach to both internal and external stakeholders, including colleagues and partners.

Under the direct supervision of the Country Representative, the Partnerships and Reporting Specialist will be responsible and accountable for the effective and efficient provision of donor-related support services to senior management, programmes and operations units within the Afghanistan Country Office (ACO). The donor related support services include external relations and resource mobilization coordination, coordinating the preparation of proposals and donor reports and maintaining a working relationship between UN Women and donors.

The duties and responsibilities include:

Build and maintain effective external relations, strategic partnerships and support resource mobilization:

    • Develop the resource mobilization strategy/plan for the Afghanistan Country Office (ACO) and coordinate implementation;
    • Undertake ad-hoc donor studies, research, and other activities to identify funding opportunities; update the resources mobilization strategy as needs emerge;
    • Develop a prospective donor profile database that includes prospective donor funding areas, geographical and sectoral preferences, criteria, and policies with a view to identifying funding opportunities;
    • Monitor calls for proposals related to UN Women ACO mandate;
    • Initiate Resource Mobilization meetings and presentations to prospective donors in Afghanistan and outside, including preparation of briefing notes;
    • Design and implement effective advocacy strategies and methods for proactive and strategic targeting of partners and donors.
    • Convene and facilitate donor working group on gender to
    • Manage and coordinate relationships with key partners; provide technical inputs to senior management’s efforts to develop new and innovative partnerships;
    • Develop and implements strategies for maximizing potential for existing trust funds and regional projects and other sources;
    • Provide technical support the drafting and review of partner-specific Framework Arrangements and Cost Sharing Agreements.

The job posting notes:

Note:

In July 2010, the United Nations General Assembly created UN Women, the United Nations Entity for Gender Equality and the Empowerment of Women. The creation of UN Women came about as part of the UN reform agenda, bringing together resources and mandates for greater impact. It merges and builds on the important work of four previously distinct parts of the UN system (DAW, OSAGI, INSTRAW and UNIFEM), which focused exclusively on gender equality and women’s empowerment.

MRCTV notes:

The members of the Security Council called for an immediate end to the violence in Afghanistan, the restoration of security, civil and constitutional order, and urgent talks to resolve the current crisis of authority in the country and to arrive at a peaceful settlement through an Afghan-led, Afghan-owned process of national reconciliation. They underscored that a sustainable end to the conflict in Afghanistan can only be achieved through an inclusive, just, durable and realistic political settlement that upholds human rights, including for women, children and minorities. The members of the Security Council called on parties to adhere to international norms and standards on human rights and put an end to all abuses and violations in this regard.

Somehow I don’t think the actions of the United Nations Security Council will have any results. You really can’t make this stuff up.

The Woke Crowd Is Targeting Monopoly

MRCTV reported yesterday that the woke police have gone after the Monopoly game.

The article quotes a Fox Business article:

Hasbro will change all 16 of Monopoly’s “community chest” cards to remove outdated concepts. The company said the classic versions of the cards, which included prompts referencing beauty contests and holiday funds, were “long overdue for a refresh.”

New community chest cards will focus on topics that emphasize “community.” Hasbro asked the public to vote on potential replacements, with rewards for in-game actions such as rescuing a puppy or shopping local among the options. Other cards would penalize players for forgetting to recycle or blasting music too late at night.

The only good thing I can say about this is that it will make the game more relatable for younger generations who did not grow up playing the game. However, how many of the younger generation still play board games instead of video games?

 

This Is Not A Surprise To Most Of Us

MRCTV is reporting today on an interesting choice of words by Vice-Presidential candidate Kamala Harris during a broadcast targeting Hispanic voters in Arizona.

The article reports:

Kamala Harris may have just let out a Freudian slip – and if anyone’s upset by it, it won’t be her political opponents.

The California senator, who is running to be Joe Biden’s vice president should the pair win the election in November, seemed to momentarily place herself at the top of the ticket in an odd moment during a virtual round table Monday, encouraging voters to cast their ballot for “A Harris administration, together with Joe Biden.”

“A Harris administration, together with Joe Biden as the president of the United States…the Biden/Harris administration will provide access to $100 billion in low-interest loans and investments from minority business owners,” Harris awkwardly claimed.

If Joe Biden is president, why is it the Harris administration? Who is pulling the strings?

Steven Hayward at Power Line Blog notes:

I’m betting the Secret Service is taking resumes of food tasters right about now.

The article at MRCTV concludes:

Harris’ mix-up between herself and the man who is actually running for president is also in line with many concerns on the right over Biden’s age, mental acuity and physical ability to do the job of POTUS, with many saying that a vote for Biden is really a vote for Harris if and when Biden becomes unable to hold the office.

When you consider Kamala Harris’ record as California Attorney General, the thought of her in the White House is troubling. Her prosecution of cases was very uneven and often appeared to be politically motivated.