Trump dusted off an old Cold War playbook today: Section 303 of the Defense Production Act.
A law born out of the Korean War in 1950, it was originally used to requisition factories and produce ammunition.
Today, it’s being used to give oil the green light: oil production, refining, pipelines, storage, and marine terminals are all being classified as “essential to national defense,” with the federal government directly providing financial support.
The original proclamation is pictured here. The gist is just three points:
First, oil is the lifeblood of the U.S. military and industry. Without federal action, national defense capabilities could face disruptions.
Second, securing the resilience of domestic oil production, refining, and logistics is central to defense preparedness.
Third, the scope covers exploration and extraction, pipelines, storage, and terminals—the entire industry is on the table.
I think the real point of this whole show has very little to do with the words “national defense.”
The timing is awfully convenient: on one hand, there’s the shadow of war with Iran; on the other, the oil-price bill looming ahead of the midterm elections. He just called Iran “manipulating oil prices and fabricating attacks,” and now he’s handing federal subsidies to domestic oil wells. He’s playing both sides of the oil-price card.
There’s a crypto angle, too: lower oil prices ease inflation expectations, fuel hopes for rate cuts, and give risk assets some breathing room. BTC is currently at $81,662, barely moving over the past 24 hours, clinging just above the $80,000 mark and waiting for precisely this kind of macro catalyst.
So here’s the question—
Do you believe this is an “essential national defense need,” or a price-stabilization show for an election year?
$BTC
#川普 #Oil
A law born out of the Korean War in 1950, it was originally used to requisition factories and produce ammunition.
Today, it’s being used to give oil the green light: oil production, refining, pipelines, storage, and marine terminals are all being classified as “essential to national defense,” with the federal government directly providing financial support.
The original proclamation is pictured here. The gist is just three points:
First, oil is the lifeblood of the U.S. military and industry. Without federal action, national defense capabilities could face disruptions.
Second, securing the resilience of domestic oil production, refining, and logistics is central to defense preparedness.
Third, the scope covers exploration and extraction, pipelines, storage, and terminals—the entire industry is on the table.
I think the real point of this whole show has very little to do with the words “national defense.”
The timing is awfully convenient: on one hand, there’s the shadow of war with Iran; on the other, the oil-price bill looming ahead of the midterm elections. He just called Iran “manipulating oil prices and fabricating attacks,” and now he’s handing federal subsidies to domestic oil wells. He’s playing both sides of the oil-price card.
There’s a crypto angle, too: lower oil prices ease inflation expectations, fuel hopes for rate cuts, and give risk assets some breathing room. BTC is currently at $81,662, barely moving over the past 24 hours, clinging just above the $80,000 mark and waiting for precisely this kind of macro catalyst.
So here’s the question—
Do you believe this is an “essential national defense need,” or a price-stabilization show for an election year?
$BTC
#川普 #Oil