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Showing posts with the label WTO

The US Global Sour Crude Game

Why does the United States produce 1 million barrels of oil per day but sell almost all of it unrefined to other countries while at the same time importing 1 million barrels of oil from Canada, Venezuela and the Middle East? And why did Trump drop tariffs on Canadian oil but nothing else Canadian? In the latter case because someone told Trump that most of our oil refineries are set up to only refine heavy sour crude oil and they can't easily be reconfigured to refine light sweet crude, which is mostly what we produce. The United States has some heavy sour crude in the Southwest but we mostly produce just light sweet crude oil which can only be refined into different fuels, whereas heavy sour crude has more sulfur compounds and other impurities, and when those impurities are refined out of the oil they turn into base feedstock chemicals and acids that are used to produce plastics and an enormous amount of chemicals for the manufacturing industry that was created for the United State...

The Amercan Oligarch Soft Coup That Doubled Their Wealth

When Franklin Delano Roosevelt was elected he instituted the New Deal which included Social Security, and that made American Oligarchs like the Rockefeller, DuPont, and Pew families jealous of their counterparts in Europe that lived in Fascist countries and didn't have to share the wealth with peasants, so they launched what is known as the Business Plot to overthrow Roosevelt and his New Deal. They asked Major General Smedley Butler to lead a coup backed by the Army Reservists at least three times in the first year of FDR's presidency, but he refused and testified about the Business Plot before Congress in 1934. Though they failed to have an official coup, after FDR died in 1945 the American Oligarchs pulled off a soft coup by gaining control over both political parties and all US media. They created term limits, destroyed unions with "right to work" laws, and outsourced American jobs, which doubled the wealth of the top 1% from 10% to 21% of everything in America ov...