Biden Admin: 25 Days Left BEFORE Economic Collapse

we have just 25 days left of before the

collapse of our economy says Tucker

Carlson let's listen to the clip and

here's the reality we have 25 days to

avert economic catastrophe catastrophe

is what will happen if we run out of

diesel fuel according to data from the

Energy Information Administration by the

Monday of Thanksgiving week that's 25

days from now there will be more no more

diesel

so what's going to happen then well

everything will stop that means trucks

and trains and barges all unable to move

farm equipment will shut down there will

be no deliveries because there will be

no trucks there'll be no diesel

generators and then inevitably our

economy will crash because everything

runs on diesel fuel so is Tucker Carlson

correct that we could have no trucks

trains barges farm equipment diesel

generators or potentially even jet fuel

completely leading to catastrophe in our

economy in 25 days well if we review

exactly what is going on in our diesel

markets we know the following that

Reuters is reporting critically low

levels of storage and price spikes very

likely within the next six months for

diesel unless of course the economy in

consumption slowed down when we look at

earnings calls or reports in general

from companies about diesel consumption

and demand we get information like this

Bloomberg's nef tells us that diesel

appears scarce heading into winter

thanks to under investment by the nation

exacerbated by Refinery closures and

disruptions it's worth noting that we

had about 700 to 800 Wells drilling for

oil in America right before the pandemic

that number is presently sitting at

about 612 and has very slowly been

ramping back up Goldman Sachs is also

reporting warning signs for a diesel

demand and Diesel Supply Exxon who

reported earnings this morning also says

that diesel demand continues to be

strong despite downward pressure on

gasoline demand so gasoline demand is

falling but diesel demand from

manufacturing and Industry continues to

be strong on top of that we have the

lowest stockpile of diesel fuel we have

seen since

1982 at just 106 million barrels well

below the seasonal average a lot of this

is of course being blamed on the Biden

administration's closing of the Keystone

pipelines restricting of refineries

something very common by the way in

California when I ran for governor in

California one of the clearest and most

immediate problems that I noticed

especially before coming in third place

in the election which I thought was a

pretty good showing but one of the

problems that I noticed was California

as an example is the kind of state that

says hey you know what we want to go

green but rather than taking our 1970s

style oil and gas refining

infrastructure and making it more

efficient let's just say we're not

allowed to make any changes to the old

crappy refineries unless those changes

are a hundred percent green

but wait a minute you can't make a

Refinery 100 green you could make it 30

percent more efficient by allowing

improvements but no that would be

California politicians supporting

refineries how dare you make them more

efficient let them stay dirty so that

way people are truly forced over to

electric and Greener products which is

substantially more expensive than if we

would just reduce prices and increase

Supply by actually increasing the

efficiency of the refineries that we

already have but of course politicians I

like those in California like to stand

in the way of that it's not just

California though or the United States

China is also scaling back production as

their economy slows down and we're

seeing a really slow ramp up by

companies like shell Exxon Chevron BP

even though they have record profits but

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below now these record profits you'd

think might be leading to record

investments into more rigs but that's

not the case because a lot of these oil

and gas companies know that these record

profits won't last so what are they

doing they're using the excess Capital

to pay off debt and pay dividends to

their shareholders to prop up the stock

so that if they ever need to do a

capital raise again in the future they

have a higher or larger well to draw

from for Capital raise so BuyBacks and

dividends and debt reduction are a big

priority of a lot of the refining

producers right now and some of this of

course has to do with our political

environment as well that does make it

harder for oil and gas companies to

actually increase localized production

however and in the meantime exxon's

earnings for the year are are so large

that if you combine the earnings of

Amazon Procter and Gamble and Tesla all

three of their estimated earnings

combined for 2022 are expected to be

less than the combined earnings of just

Exxon mobil's divisions this is

remarkable in fact these companies have

made and reported so much money in

profits that just looking at Exxon they

have just reported the highest profit in

152 years and Chevron just had its

second largest quarter ever

so what do we think is this demand going

to subside well not according to

Refinery CEO from the company Saras this

Refinery CEO says demand is extremely

robust for 2023 and they've quote been

able to sign contracts for 2023 at very

high premiums so obviously refining

productivity is not as high as it should

be to provide the actual diesel

resources we need and Bloomberg is

reporting that we expect diesel prices

to jump while gas prices actually are

expected to fall so with all of these

factors leading to a massive shortage of

diesel is it true that we're likely to

be 25 days away from collapse and trucks

and trains and barges just won't have

access to diesel anymore well this is my

opinion but my opinion is no we will not

run out of diesel that is my expectation

and the reason we won't run out of

diesel in my opinion is we'll simply see

the short-term price of diesel Spike to

high levels making the inflationary

problems in shipping in manufacturing

and in Freight worse for all of the

companies in America and worsening and

prolonging our inflationary disaster

remember there's an old economic theory

that has always been proven correct and

it's likely to be the same for diesel

and that theory is we will never run out

of landfill space that's the argument

the argument is we will never run out of

landfill space and individuals say how

could that be possible at some point

we'll just have so much trash we won't

have landfill space anymore the argument

is simple prices will go up to such a

high level that people will simply by

Price be compelled to recycle more or

create less trash by either reusing or

otherwise maybe even burning their trash

whatever they need to do to get rid of

it the same is true when it comes to a

Commodities demand like diesel if diesel

shortages are so strong you might see

local diesel rationing like you see in

States like New York or areas that

really rely on diesel for heating

however you're unlikely to see an

impossibility of a of actually getting

diesel you'll just see the price go up

substantially so a price spike Could

Happen which is inflationary and bad for

our economy where we actually run out

probably not could there be government

interventions that set price ceilings

yes but generally price ceilings only

exacerbate supply shortages as the

market then can't reap the benefit of

higher prices hopefully leading to more

investment but then again politicians

might say hey higher prices haven't been

leading to more investment at oil and

gas companies now so why would they

later either way do I think we're about

25 days from collapse absolutely not do

I think we've got a big red flag coming

up with a massive diesel shortages and a

likely spike in diesel during this

winter absolutely yes and will that

contribute to headline inflation

absolutely will it contribute to core

inflation possibly that's because even

though Gas and energy are stripped from

core those increase increases in Freight

and uh and essentially manufacturing

expenses will flow through to goods and

service products in the actual core

sector of CPI potentially helping

Elevate CPI prices and this is

unfortunate given that we have our

fingers crossed for inflation to be

coming down not going up so Tucker's on

the right track are we 25 days away from

collapse I personally don't think so but

he's not wrong about some of the things

and concerns that he's bringing up