Biden's Biggest Oil Blunder of 2023

At one point or another, I know you’ve come across the ancient proverb that says “the enemy of my enemy is my friend.” Today, we’re witnessing a twisted version of this idea play out in the global oil markets. [Energy and Capital Header] Practical Investment Analysis for the New Energy Economy Biden's Biggest Oil Blunder of 2023 Keith Kohl | Oct 17, 2023 "The enemy of my enemy is my friend." At one point or another, I know you’ve come across this ancient proverb. And although it wasn't officially recorded until the 18th and 19th centuries, the roots of this phrase comes from the Latin phrase Amicus meus, inimicus inimici mei. However, that’s not the origin of this traditional saying. For that, we’d have to go all the way back to the 4th century BCE, when it was authored by an Indian philosopher named Chanakya in a treatise on statecraft and written in Sanskrit. The concept is similar, in which a king with a neighboring enemy disputing control of a territory would find a natural ally in that enemy's neighbor. Today, we’re witnessing a twisted version of this idea play out in the global oil markets. Whether or not anyone told him, President Biden has decided to use a bastardized approach to it, opting to shout out to the world this week that the friend of his enemy is his friend… who is still his enemy. Sounds confusing? Don’t worry, so are his latest energy policies. There's $322 Billion Worth of Lithium in Northwest Alberta...Why Can't Anybody Touch It? For more than 40 years, an oil company has been working a 671-square-mile chunk of northwestern Alberta, producing its lifeblood using brine that’s kept in hundreds of massive storage ponds. These storage ponds have long been known to contain a massive lithium resource, totaling an estimated 4.3 million tons. Just recently a tiny Vancouver-based technology company, founded and headed by petrochemical industry veterans, figured out a way to extract the lithium from this brine, very quickly and very efficiently. So efficiently, in fact, that the company can filter this oil field brine, returning it to the pond after processing, with a better than 95% capture rate. Production of salable lithium will cost between $3,000 and $4,000 per ton, while market rates price lithium at $70,000 per ton. They know where the lithium is, they know how to extract it, and, as of now, they have an agreement in place to work this giant lithium-rich property. Commercial production is now projected to be in place by the middle of 2024, with buyers already lining up. [Interested? Enter here to learn more.]( BRICS vs. the West Over the last decade, global alliances within the oil industry have shifted. Russia has all but joined OPEC to curtail crude supply in response to a hostile Biden administration that has laid the blame for high oil prices on everything from OPEC to our own domestic oil companies. This unholy alliance has been a boon for Vladimir Putin, who recently hinted that not only will the OPEC+ output cuts extend into 2024 but may become even deeper. It’s a win-win situation for them, isn’t it? Higher oil prices have proven that the G7 price caps on Russian oil were toothless. Russian oil export revenues surged to $18.8 billion in September, which is the highest it's been since July 2022. Meanwhile, the House of Saud can sit back in smug satisfaction as President Biden pulls one desperate move after another to subdue prices. Last year, Biden drained half of our Strategic Petroleum Reserve to find short-term relief. When that failed and oil prices started rising again, the U.S. agreed to ease sanctions on Iran back in August. Bloomberg reported that U.S. officials have said that enforcement on Iranian oil sales relaxed, which helped push Iran’s oil exports to around 1.5 million barrels per day — the highest level since 2018. We know that hasn’t worked out so well today. The No. 1 AI Stock of Our Era Using artificial intelligence (AI), this obscure company has made what could arguably be the most impactful medical breakthrough of our lifetime... Reducing the time frame for drug discovery by 70%... Slashing the costs of drugs by 80%... And even leading the charge with a novel cancer treatment that's swiftly advancing through clinical trials! This firm, with its innovative use of AI, is the catalyst of what Morgan Stanley says is a "$50 billion opportunity" for investors. It’s precisely why big market players like Bill Gates, BlackRock, and Citigroup are heavily investing in this $5 stock. [Join them before it’s too late.]( The problem is that President Biden is backed up against a wall right now. The election cycle is going to reach a crescendo in 2024, and high energy prices are a death knell for a sitting president. So here we are, watching the Biden administration turn our enemy’s friend into a friend. In this case, it’s Venezuela. I guess enough time has passed that the average American has forgotten all about President Nicolás Maduro and his regime in South America… or that the U.S. declared his victory illegitimate in 2018 and significantly tightened its oil sanctions on the country a year later. Soon, the U.S. is going to announce a deal that will pull back some of those sanctions on Venezuela’s oil industry. For anyone who hasn’t forgotten the dismal state of Venezuela’s oil industry and the rampant corruption at its state-run PDVSA, it’s clear this is another desperate Hail Mary to boost global supply and hopefully put pressure on oil prices. Let me spoil this one for you: It won’t work. However, I don’t want you to think this story has to end badly. Fortunately for us, there’s a patch of land 250 miles wide and 300 miles long that holds more than 30 billion barrels of light, sweet crude waiting to be tapped. And next week, we’re going to look at the emergence of a new phenomenon in this oil patch. Stay tuned. Until next time, [Keith Kohl Signature] Keith Kohl [[follow basic]Check us out on YouTube!]( [youtube logo]( [Angelpub ARE site logo 100x100]@AngelInvestmentResearch Peace, War, and Wealth: World War III, AI Pilots, and Defense Stocks to Buy NOW Jason Simpkins returns to the Angel Research Podcast to discuss the Israel-Palestine conflict, why we've been fighting WWIII for 15 years already, and THE defense contractors to own for the foreseeable future...  [top nuclear stocks to buy now](       [Fb]( [Li]( [Tw]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Energy and Capital, Copyright © 3 East Read Street, Baltimore, MD 21202. Please note: It is not our intention to send email to anyone who doesn't want it. If you're not sure why you're getting this e-letter, or no longer wish to receive it, get more info [here]( including our privacy policy and information on how to manage your subscription. 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