I just got word that we are cutting oil production

[Don Alaska]

I just got word from the people who work on Alaska's North Slope, that we are cutting production by 30% from there. This is an interesting turn as the price is up and the Strait of Hormuz is effectively closed. People are being laid off left and right here. The only thing I can think of is that we are trying to put the squeeze on China to make them force Iran to keep the Strait open. I have said before that I have been told that much of Alaska's oil is going to China for refining since the environmentalists don't want it refined in Washington state where it has been processed in the past. Perhaps the Administration is afraid China will simply keep much of the oil instead of shipping the refined products back. In any case, it is a bit of a puzzle considering the oil situation in the world right now.

 

[Ed Wilson]

I just got word from the people who work on Alaska's North Slope, that we are cutting production by 30% from there. This is an interesting turn as the price is up and the Strait of Hormuz is effectively closed. People are being laid off left and right here. The only thing I can think of is that we are trying to put the squeeze on China to make them force Iran to keep the Strait open. I have said before that I have been told that much of Alaska's oil is going to China for refining since the environmentalists don't want it refined in Washington state where it has been processed in the past. Perhaps the Administration is afraid China will simply keep much of the oil instead of shipping the refined products back. In any case, it is a bit of a puzzle considering the oil situation in the world right now.

I wonder if it's a seasonal change. I watch Ice Road Truckers, and the spring thaw makes transportation difficult if not impossible.

 

[Jacob Petersheim]

I don't see the strategy, so perhaps China is the issue.

 

[Don Alaska]

I wonder if it's a seasonal change. I watch Ice Road Truckers, and the spring thaw makes transportation difficult if not impossible.

No, this is not a seasonal change. It is something else. Everything is still well-frozen. People who have never been laid off are losing their jobs now. Something else is behind it but it is not clear what.

 

[Marie Mallory]

I wonder if it's a seasonal change. I watch Ice Road Truckers, and the spring thaw makes transportation difficult if not impossible.

We watched Ice Road Truckers for a couple years. That was several years ago now though.

 

[Ken Anderson]

I wonder what that's about? That's certainly not the impression we're being given.

 

[Don Alaska]

I wonder what that's about? That's certainly not the impression we're being given.

I don't know and this is coming from the oil workers in Prudhoe Bay. It only started yesterday according to them. I can only think oft he China link. Oil production and gas production may be up in Texas, Oklahoma, Louisiana, Pennsylvania, Ohio and such, and they are supposedly releasing from the Strategic Oil Reserve here and elsewhere. I just don't get it.

 

[Ken Anderson]

@Don Alaska, you may be right. China is pressuring Iran.

 

[Tony Page]

I don't know and this is coming from the oil workers in Prudhoe Bay. It only started yesterday according to them. I can only think oft he China link. Oil production and gas production may be up in Texas, Oklahoma, Louisiana, Pennsylvania, Ohio and such, and they are supposedly releasing from the Strategic Oil Reserve here and elsewhere. I just don't get it.

Sounds like a interesting mystery. I wonder if the fact that Mr Trump said he will be taking oil from the reserves, has any bearing on it?

 

[Tony Page]

I don't know and this is coming from the oil workers in Prudhoe Bay. It only started yesterday according to them. I can only think oft he China link. Oil production and gas production may be up in Texas, Oklahoma, Louisiana, Pennsylvania, Ohio and such, and they are supposedly releasing from the Strategic Oil Reserve here and elsewhere. I just don't get it.

Looking for info on line. There are a few reasons in reduction of oil production.
Wells are not producing
Cost is 2x other wells
Investors not interested

The well were at their peak production in 1988, they have been declining while cost has been going up.
Trump tried to auction off some land for oil production. He got no bids.

Headline from internet

‘Too Expensive, Too Risky’: Why Trump’s Alaska Oil Auction Drew Zero Bids​

 

[Marie Miller]

No lay offs and/or well closings according to friends.

 

[Jacob Petersheim]

Hmm...

Iran War - An Engineered Crisis to Bury the Petrodollar and Usher in a New Monetary Order.

Very rambling, but basically suggesting the 1970s energy crisis was engineered and that another one is underway now.