Oil's Mos Eisley of Thanksgiving Dinners

November 24, 2023

Gobble gobble.

What the turkey does . . .

Gobble gobble.

What we do to the turkey . . .

If I were the turkey?

I’d probably make a different sound.

Still, be thankful to the big beautiful bird.

Getting baked and stuffed to feed your herd.

It’s Thanksgiving after all, and we’re in a festive mood.

So much to be thankful for, so plentiful the food.

Let’s fill our hearts with gratitude galore,

gather ‘round the table and give thanks once more,

We give thanks to the Saudi’s, leading OPEC’s house,

Quieting Angola/Nigeria, those two peeping mouse.

Asking for increased quotas can be quite baffling,

to those who see your production is flagging.

The Zoom meeting’s set for November 30,

longer OPEC cuts means next year gets purty.

It’ll reduce supplies to balance things out,

swell prices higher like Thanksgiving gout.

We give thanks to shale who’ve overproduced.

Surprising even us, with all of their juice.

Something to be said for efficiency gains,

even as rigs dive, production’s not lame.

Is it sustainable? Is it our savior?

Sustainability’s tough, when you’re on best behavior.

We’ll have to see if they keep it up,

don’t bank on it to fill our cup.

Why do we doubt when data don’t lie?

Physics and falling rig counts . . . they will belie.

We give thanks to Iranians, those rascally bunch.

They pound the table while spiking the punch.

Splashing proxy battles here and there,

instability abounds, forcing us to care.

All the fires we tackle diverts our attention,

from Iran’s goals and Middle East ascension.

Still, we don’t want a fight, we’ll turn a blind eye.

A kinetic conflict we don’t want to try.

Exports are up, nearly 2M barrels a day.

If you add on 400K from their black ship foray.

In the meantime, please pass the sour crude like gravy,

With all your darkened transponder navy.

We give thanks to the Russians, that mafia bunch,

A kleptocracy that eats people’s lunch.

We’ve sanctioned them hard as we’ve explained,

but exports are higher as they’ve made it rain.

Oil and products falling out of the sky,

like Putin critics committing “suicide.”

We’ve put that in quotes because we’re being sarcastic,

Like Western “sanctions” that are just so fantastic.

It appears production’s peaked in the near term we see,

constrained by OPEC’s agreement and field intensity.

Despite supplies coming, as far as we see.

We give thanks to the table surrounding thee.

We need them because the world is a bit short,

so with these baddies we’re forced to consort.

Because demand isn’t bad, in fact it’s quite good,

you wouldn’t know it from where prices stood.

Just remember that things are now stable,

but it took everyone’s effort, even those we enable.

We accept their unruliness in exchange for oil,

as we shun our own industry here in our soil.

It’s what we must do to preserve OUR way of life,

one dependent on cheap energy to avoid social strife.

As inventories decline, it’s the bottom of the barrels,

with whom we dine with and then sing carols.

Into the year-end, here we go.

We’re still optimistic even if no one knows.

Why the blind faith with what we see?

We’ve already seen this table of villainy.

So give thanks to this Mos Eisley of Thanksgiving meal,

a wretched hive with whom we must deal.

We’re going higher, because that’s the path,

We’ve forsaken it all, so prepare for oil’s wrath.

Happy Thanksgiving.

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