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l drawn down about 100 million barrels occurred between april 17 and june 17 as we ll see the timing of that drawn down to the period between april 17 and june 17 is important the draw down coincided when the price of crude oil hovered consistently around 100 per barrel the spr oil company profit scam when the us government releases crude oil supply from the spr it doesn t charge the oil companies anything for the oil they get the oil for free no cost they then can sell it for export at the then prevailing market price i e 100 per barrel or more if april to june 17 or they can refine it and sell it in the us domestic market again at the 4 50 gallon price instead of prior 2 92 gallon in both cases there s no costs of production for the drilling and other pre refinery production and if for export no costs of production at all lower or no cost mean windfall profits in the first quarter of 2026 the 27 major us oil companies reported windfall profits of 40 billion that was before the iran war and the price escalation soon they ll report second quarter 2026 profits analysts except that to be 60 to 80 billion additional profit windfall so the us big oil companies in just the first half will realize more than 100 billion further profit from the iran war while the us consumer puts out 69 billion and cuts other spending and or his savings by that amount who says war is not profitable and who wants it to continue and this is not to mention the weapons companies of the military industrial complex or the financial speculators who got pre notice of trump s market price manipulation announcements which include his friends and family businesses who placed speculative bets on oil price swings since february 2026 the spr oil company profits scam where they wait to take spr free oil at 0 dollar cost until it reaches 100 per barrel and more and then sell it at 100 profit is just one of many ways that capitalists of various ilk have been exploiting the war defenders of the spr scam will argue the oil companies don t realize 100 profit they have to return the free oil from the spr at a higher rate that they received typically they are required to return 1 2 barrels for every 1 barrel they take true but they can wait up to two years to replace the 1 2 barrels so they wait until the price per barrel falls more than 20 in order to pump their own oil to send to the spr this is not unlike short selling stock market shares by speculators in a short sale the financial speculator capitalist takes possession of a share of stock and technically sells it when the price of the stock then collapses he buys the stock at the much lower price so he buys it low and pre sells it high the difference is the speculative profit he doesn t actually take possession of anything it s all an accounting manipulation except for the profit at the end which he gets to bank in his account that s real in similar fashion the oil company waits until the price per gallon is high only then takes the oil from the spr sells it at the peak market price then waits until the price collapses and replaces the oil at the low market price even if the replacement is 1 2 to 1 the profit difference is when the lower replacement price is less than 20 us oil companies took and sold spr oil at 100 or more per barrel they have two years to replace it at less than 80 the difference is pure profit should a recession occur within two years the price per crude will certainly fall to 50 or less other evidence of no oil shortage the oil companies in the meantime gouge the us consumer at the retail level for gasoline home heating oil and diesel if there was a true supply shortage why has us crude oil production not changed at all during 2026 and the war from our same sources on february 27 daily us crude oil production in the us was 13 7 million barrels on april 17 13 6 on june 26 it was 13 8 since june it has been steady at 13 8 million barrels so the shortage is not due to us crude oil production and as we saw not due to oil company commercial crude oil reserves so where has the spr oil supply 100 million barrel draw down april june gone try us oil companies us oil exports the dollar value of those exports rose from 7 8 billion for the month of february 2026 before the iran war to 17 1 billion in april 2026 to 19 1 billion in may june is not yet available but almost certainly will exceed 22 billion an argument can thus be made the spr release plus the us companies crude output increase has gone to exports while some of the dollar value increase is no doubt due to the rising price of us crude exports some of that is also due to the increase volume of crude exports and not just crude oil exports refined oil product exports have risen in quantity and price as well us refinery capacity rose from 89 in february 2026 to 96 in july that increase in refinery output should have increased the supply of gasoline distillates etc and thus reduced the price for consumers at the pump but didn t more supply means lower price gasoline and distillate inventories fell slightly despite the us refinery production rise from 89 to 96 capacity according to the wall st journal of july 9 2026 us gasoline inventories fell from 253 million barrels on february 27 to 212 million on july 9 and distillate inventories from 120 to 103 million barrels in both cases not much a decline or shortage from prior five year average levels but certainly not enough of a supply shock to justify a 50 increase or more in the cost per gallon for gasoline and diesel fuel conclusions the data for both us crude oil production and reserves commercial or spr simply don t indicate there s been a crisis in oil supply shortage in the us us crude production and commercial reserves don t support that view the us spr release is actually a profits scam to enrich the oil companies who will have realized windfall profits of more than 100 billion in just the first six months of 2026 in contrast us households have paid out of pocket 69 billion us businesses more much of the spr free oil was likely re exported by the us oil companies at significant profit us oil companies refinery output should have increased the supply of gasoline and distillates but didn t that moderate refined oil output increase was also likely mostly re exported there is not now nor has there been a supply shortage of either crude oil or refined oil products in the us it s all a trump media mic misrepresentation of facts to justify a grand scale rip off and exploitation as all wars are now that the iran war has resumed as a hot war in july the process of exploitation of consumers oil price manipulation and speculation and oil company profits windfalls will repeat in the second half of 2026 jack rasmus july 24 2026 copyright 2026 posted in uncategorized tagged gasoline iran war mou oil price oil profits strategic petroleum reserve trump us crude oil us oil exports us oil inventories leave a comment scenarios us economy 2026 28 updates iran ukraine wars july 18 2026 by jackrasmus today s show focuses on likeliest scenario for us economy under trump s remaining term including pentagon and total us war spending non defense spending cuts deficits national debt interest payments on the debt tariffs inflation fed interest rates financial markets real gdp and wages and likely forecast of recession after 2026 also updates on why the mou with iran collapsed and why trump now sides with europe and ukraine favoring further escalation of war in ukraine https alternativevisions podbean com e alternative visions 7 17 26 posted in uncategorized 1 comment nato summit attacks on social democrats july 14 2026 by jackrasmus today s show focuses on the neocon trump strategy to escalate the war with russia why the august 2025 anchorage agreement between trump and putin was just a pr event and why trump s mou with iran last month was also just a tactical deception as well the empire s two forever wars now continue what s behind the recent gains by social democrats in recent dem party primaries and how both the dem party leaders and trump are gearing up to stop it https alternativevisions podbean com e alternative visions 7 10 26 posted in uncategorized 3 comments twilight of american imperialism book presentation june 22 2026 by jackrasmus watch my presentation on my forthcoming book later this summer the twilight of american imperialism during which i review and discuss the major themes and research on the decline of the american empire in the 21st century now accelerating why the empire is no longer affordable as currently structured how the practices of empire are not as successful as in past decades and what the institutions of empire are under performing why the empire can no longer fund its expanding costs from real economic growth and debt financing is also reaching its limits the focus is on the time period 1992 through 2026 the one hour presentation is followed by a half hour of q a with the audience to watch go to posted in uncategorized leave a comment iran deal political and economic fallout june 19 2026 by jackrasmus today s show reviews the recent deal announcement for ceasefire in the iran war what s a deal this is just an mou an outline of items to be negotiated over next 60 days a framework for negotiation is it the beginning of us retreat from middle east why did the regime change fail how do regime change ops succeed why not iran takeaways from the deal economic fallouts for us inflation military spending austerity us growth global economy impacts to come https alternativevisions podbean com e alternative visions iran deal and fallout economic political posted in uncategorized 1 comment latest us inflation jobs reports june 19 2026 by jackrasmus listen to my june 12 alternative visions show discussion of the june us inflation and jobs reports why more inflation is inevitable in july sept and jobs growth will slow why the may jobs report is inaccurate and will be corrected in august as has occurred the past two years showing 1 million more jobs lost than the monthly jobs reports show https alternativevisions podbean com e alternative visions latest inflation jobs reports ai bubbl posted in uncategorized 2 comments my interview on jimmy dore show june 6 2026 by jackrasmus watch my interview with host garland nixon on the jimmy dore show this past week as we discuss the us iran war s economic impact on the us and global economies the crisis and decline of the american empire trump and the november 2026 upcoming elections the threat of zionist us oligarch influence on american politics and threat to democracy posted in uncategorized 1 comment up the ukraine war escalation ladder latest us gdp numbers june 2 2026 by jackrasmus https alternativevisions podbean com e up the ukraine war escalation ladder latest us gdp numbers listen to my friday may 29 2026 alternative visions show which starts with review of latest us gdp inflation and income numbers showing inflation accelerating and gdp slowing sharply in latest 2 nd gdp numbers rest of show focuses on dangerous new events in the ukraine war as europe pushes drone attacks deep inside russia and russia public opinion demands more aggressive action by putin russia warns get out of kiev as something big coming soon russia talks directly about attacking baltics sites where drones are being launched into northern russia and warns will target drone production in the eu eu nato political leaders keep saying they re preparing for war with russia inevitably by 2030 posted in uncategorized leave a comment global bond rout as subprime mortgage 2 0 may 23 2026 by jackrasmus https alternativevisions podbean com e global bond rout as subprime mortgage 20 what s happening to bonds in us and global as interest rates surge to 2007 and 2023 levels precipitating financial crash events bond markets way bigger and more important than stock markets iran war re escalation expectations by investors with more inflation and federal reserve expected to start raising interest rates again consequences for stocks especially ai bubble what s impact of trump s just preventing all controls on ai negative impacts on jobs autonomous weapons development political system legitimacy and his family s ai investments trump s irs deal cuba next regime change before us elections posted in uncategorized 1 comment insider trading short sales on trump oil price swings may 10 2026 by jackrasmus my video interview explaining how us investors are using insider information from the trump administration to make 7 billion shorting oil price swings from march to may 7 alone posted in uncategorized 2 comments older posts dr rasmus on twitter click here to dr jack rasmus drjackrasmus jack s weekly radio show alternative visions click here to listen to the show on the progressive radio network new book while the capitalist system has undergone numerous restructurings throughout its history capitalist elites purpose in restructuring has remained the same to restore and or extend their hegemony the current restructuring operative since 1978 is called neoliberalism the book examines neoliberalism as both an idea and an historical practice composed of a particular mix of fiscal monetary trade industrial policies that began with the latest us capitalist restructuring in the late 1970s continuing to evolve to this day the book further explains the deeper material forces giving rise to as well as now undermining the neoliberal policy regime with special focus given to the crisis of neoliberalism in the wake of the 2008 09 global crash obama s failure to resurrect it and trump s current doomed effort to restore it in a new more aggressive form evidence why neoliberalism is destroying us democracy concludes the book s analysis new book describes how us federal governments often in cooperation with the largest us private banks introduced and expanded central banking functions from 1781 through the creation of the federal reserve act of 1913 based on an analysis of the evolution of the us banking system from pre 1781 through the 1787 us constitutional convention congressional debates on hamilton s reports to congress the rise and fall of the 1st and 2nd banks of the united states and through the long period of the national banking system form 1862 1913 the book shows how central banking in the us evolved out of the private banking system and how following the financial crash of 1907 big new york banks pushed through congress the federal reserve act of 1913 creating a central bank which they then managed for their interests book click on image central bankers is a comprehensive critique of central banks policies in the 21st century explaining why the massive injections of free money to the banking system since the 1970s enabled the creation of excess corporate debt that has led to financial bubbles and repeated crises the book addresses the growing contradictions of central banking why they are failing in th...