Submitted by Arthur Berman via OilPrice.com,
The Keystone XL Pipeline (KXL) is a bet on much higher oil prices several years from now. It will take at least $85 oil prices to develop the new oil sand projects needed to fill the pipeline.
It is also a bet that U.S. tight oil output will continue to grow and will need heavy oil to blend for refining. Both bets are risky.
A Bet On Higher Oil Prices
Two weeks after China allegedly unveiled a new ICBM system "in response to Trump's provocative remarks", a report which however was subsequently denied by Chinese officials, China had no qualms about revealing another highly accurate ballistic missile in recent Rocket Force drills, which is capable of threatening not only Taiwan and the contested South China Sea islands, but also U.S. and Japanese bases in Asia.
Is The Trump Administration Already Over?
Paul Craig Roberts
Hopes for the Trump administration are not burning brightly. Trump’s military chief, Gen. Mattis, is turning out to be true to his “mad dog” nickname. He has just declared that Iran “is the single biggest state sponsor of terrorism in the world.” https://sputniknews.com/politics/201702041050338034-mattis-iran-terrorism/
He has declared Russia to be the number one threat to the US.
He has threatened intervention in China’s territorial affairs.
Back in November, when describing the perverse global fund flows in which record money creation out of the BOJ and ECB amounting to roughly $200 billion per month was being used indirectly, via spread differentials, to create demand for US Treasuries by foreign official and private investors - an observation first made by Deutsche Bank - we dubbed it "global helicopter money", and were surprised that "nobody has noticed" what is going on.
Having caused quite a stir domestically when in an interview with Donald Trump airing just before the Superbowl, Fox News host Bill O'Reilly described Putin as "a killer" as he tried to press the U.S. president to explain more fully why he respected his Russian counterpart, on Monday the Kremlin slammed O'Reilly's "factual statement" and said it wanted an apology from Fox News over what it said were "unacceptable" comments.
Kremling spokesman Dmitry Peskov