An agreement on Friday June 22nd caused oil prices to increase by the largest one-day jump since OPEC agreed to reduce output at the start of 2017. At the beginning of 2017 OPEC and 10 other oil-producing countries agreed to reduce their combined output by 1.8 million barrels a day, roughly 2% of global output. The 2017 deal was a reaction to the massive over-supply that brought prices down significantly since late 2014 when Saudi Arabia led the Organization of the Petroleum Exporting Countries to allow market prices to dictate their output. While the 2017 deal called for a reduction of only 1.8 million barrels a day, many countries reduced output even further resulting in 150% compliance of the planned quotas, or nearly 3 million fewer barrels of oil a day. Some members of OPEC had faced unexpected production outages whereas others simply chose to withhold their stockpile but the result was the same: oil prices were rising and global stockpiles were being used up to avoid a dangerous price spike.

The new agreement, taking effect in early July, aims to reign in the over-compliance of the 2017 deal and add more barrels of oil to the global market by returning to 100% compliance. To go from 150% compliance to 100% compliance, roughly 1 million barrels a day of crude oil would be added to the global market. However, some producers may be unable to increase their output for various reasons resulting in an expected increase of only 600,000 barrels a day. Russian Energy Minister Alexander Novak claims the $80 a barrel threshold hit in May of 2018 reflects the global inventory of surplus crude oil being reduced to a point where the oil market can rebalance itself. Saudi Arabia's Oil minister Khalid al-Falih promises his country will increase oil sales gradually starting in July. Iranian Oil Minister Bijan Zanganeh had reservations about any deal because economic sanctions from the US put them in a position whereby the increased output of others may take over Iran’s market share. Oil producing countries have to weigh the risk that big consumers may invest in renewables as well as produce their own oil, when available, if prices rise too quickly.

Leading up to this decision, the price of oil steadily fell from the $80 tipping point in late May with the expectation that OPEC and affiliated oil-producing countries would flood the
market similar to the 2014 decision. While supply will increase due to this new deal it is a far cry from the amount many investors had feared - and consumers had hoped for - therefore the price of crude saw a 3% increase due to the news instead of decreasing further. The month-long anticipation of increased supply lowered the price of crude oil but the end-result of the deal caused a market correction as speculation was replaced by the true figure. While the agreed-upon figure is an additional 1 million barrels a day, the expectation is that only 600,000 barrels will be added a day however some countries wish to produce an even greater amount of oil to take advantage of the high prices while they last. Such an over-correction could still happen in the coming weeks leading to a drop in oil prices but investors believe their fears of another 2014 crash is averted.

Without this boost to supply, OPEC feared prices could spike to surpass $100 a barrel which would drastically reduce global demand and severely cut into the profit of oil-producing
countries who rely on the revenue from companies exporting oil. Many worried the supply increase would cause American oil prices to drop below $30 a barrel again, which caused
massive unemployment in the industry and a huge loss of revenue. From 2014 to 2016, as much as $4 billion in American employee wages was lost in the oil industry.

Countries like Saudi Arabia and Russia have the ability to produce oil at a far lower opportunity cost than most other countries, giving them a comparative advantage in the global oil
market. During the 2014-2016 period of oil surplus that brought US prices below $30 a barrel, American producers had to develop the technology to continue production despite the nearly 200,000 oil workers who lost their jobs in the shale industry. US producers made good on that pressure and were able to maintain production gains through more efficient extraction and refining methods. The relatively loose regulations on hydraulic fracturing, or fracking, provided a much needed advantage to US producers who were able to leverage that technology and avoid Saudi Arabia's attempt in 2014 to shut small firms out of the market.

Avoiding a spike in oil prices in excess of $100 a barrel is beneficial to producers and consumers as demand would quickly plummet despite the short-term gains by companies such as Exxon Mobil Corp. and Chevron Corp as well as countries such as Russia hoping to capitalize on the high prices. Spikes in oil prices turn consumers away from their unhealthy dependence on oil in favor of renewables and alternatives to plastics; invites pressure from big consumers such as the United States who aren’t afraid of imposing reactionary economic sanctions; and benefits countries such as Russia whose major exports are oil. Massive increases in supply have the effect of hurting the governments who rely heavily on high oil prices to make their profit as well as hurting the small oil producers that struggle to produce efficiently when oil prices drop. With oil prices rising by over 40% since early 2017 due to geopolitical risks to supply causing unexpected shortages and the increasing demand matching increased economic growth, the global oil supply needed a moderate boost.

The United States exported a record high of 3 million barrels a day during the week of the Friday June 22nd deal - producing 10.9 million barrels a day. Progressing from exporting no oil to exporting more oil than all but three OPEC countries pump out of the earth is not solely the result of US efficiency - some analysts say a portion of the record-breaking exports was sourced from US stockpiles. Maintaining this level of oil exporting is not only unsustainable, it is hitting US consumers in the wallet at a time where oil prices are on the risk of surging to a new high for 2018 - perhaps even surpassing the triple digits per barrel. This may be viewed as the United States attempting to force smaller members of OPEC and most non-OPEC producers out of the world market for oil as this export record comes at a time when most countries have finally expended the last dregs of their stockpiles. Countries that can afford to increase output considerably include the United States, Russia, and Saudi Arabia - and the former two appear very eager to commit to flooding the market without a care for the resulting over-corrections of the market which would send the pendulum of oil prices swinging back and forth causing international uncertainty especially for countries heavily dependent on the oil industry.

Sources

https://www.cnbc.com/2018/06/27/us-oil-exports-boom-to-record-level-surpassing-most-opec-nations.html

https://www.wsj.com/articles/opec-meeting-starts-amid-detente-between-saudi-iran-1529661983?mod=hp_lead_pos3

https://www.economist.com/finance-and-economics/2016/12/03/opec-reaches-a-deal-to-cutproduction

https://www.forbes.com/sites/greatspeculations/2016/12/05/heres-what-oil-did-the-last-timeopec-cut-production/#6007220b38b3

https://www.economist.com/finance-and-economics/2016/12/03/opec-reaches-a-deal-to-cutproduction

https://www.nytimes.com/2008/12/18/business/worldbusiness/18opec.html

https://www.iea.org/oilmarketreport/omrpublic/

https://www.bloomberg.com/quote/CO1:COM

http://markets.businessinsider.com/commodities/historical-prices/oilprice/usd/1.1.2013_30.12.2017?type=wti

I always had a little problem with Laura Charles in this 1985 cult classic.

At the beginning of the movie, Laura's manager is begging her to play a tape. He tells her a man named Eddie Arcadian will hurt him if he doesn't get it played. He is literally terrified and begging. You can see he is terrified.

Laura actually says to him, "My life isn't filled with all that...... Drama." That's how she says it, she pauses before the word drama. Think about how dismissive that is. He is scared for his life and tells her as much, and she just says something that dismissive. Then she berates him like it is his fault he is in the situation. And the kicker is, she says her life isn't filled with all "of that drama" for two reasons. She liked the idea of it. The idea of thinking she was this person with no drama. And because she didn't care because it didn't affect her.

So the movie goes on. Now Laura is in danger of Eddie. It was all because Eddie wanted the tape played. There wasn't any "drama" in her life that caused it. But does she stop and realize that? Nope. Does she for one second think, "Gee maybe it wasn't my manager's fault he was in this situation. I wonder if he is okay?" Nope. She suddenly cares because it affects her.

And then everything in the end works out for her of course. And we never know if Eddie killed the manager or what happened to him. Laura never even looked for him to even just apologize, let alone make sure he wasn't dead.

What are your thoughts?

Partially inspired by the Abduction as Romance topic.

Both the Damsel in distress and Women in refrigerators tropes exists heavily in both written and screen media, especially in the comic book world, where women are reduced to easy plot devices to tell a man's story.

Women are "important" in that they matter to a man, usually the hero. They are mothers, daughters, girlfriends, but nothing more. They are defined purely by their relationships to the hero. If they are depowered, maimed or murdered, the tragedy is in the hero's loss, not hers.

People, men and women, do get hurt and die in fiction and in reality, and I'm definitely not saying this cannot be done on the page. A guy grieving his girlfriend's death doesn't automatically make her a "refrigerator girl".

For example, Gwen Stacy, who may or may not have been accidentally killed by Spiderman in his attempt to save her. Her death, and Peter's reaction afterwards has always been very organic and real to me. Her death didn't feel frivolous, and readers felt the loss as much as Peter.

As for an example of a damsel/refrigerator girl, (there are too many to choose from), let's go with Mr. Freeze's wife, Nora, who is literally in a fridge. I'm pretty sure there's no even passing Batman reader who doesn't know Nora. But do we honestly know anything about her?

Thoughts? Any common damsel/refrigerator girl that you think actually shouldn't be classified as such?

This place seems a bit sparse so lets have some comics talk.

Now Im no hard core Batman fan so Im looking at this from a casual lens but it seems to me that Bruce Wayne has the potential to do SO MUCH for Gotham with his billions but doesnt because he wants to run around at night reliving his revenge fantasy over and over.

Yeah he donates to charities and dedicates an orphans home every now and then but with his economic wingspan you'd think he could dump money into the city to improve it in all aspects.

Thoughts?

TLDR: Bruce Wayne is gotham's biggest villain. Change my mind.

A rant honestly, but I thought this might belong in tech since it's a bit more of a tech society thing for me. I'm sure other industries have this issue too, but tech definitely does. If others disagree, please feel free to move it.

So yesterday, we had two new hires show up and we were informed this in our weekly leads meeting, so this is a pretty private setting. When our manager gave a quick blur of one, it was "we expect a lot from him, he's a bit more knowledgeable, did well on our tech test", that kinda thing. And then, when discussing the woman, he kept referring to her as a "girl", so I pointed out that maybe we should use "woman" instead.

I got made fun of - "maybe we can use lady or female or ..." honestly started tuning it out, can't remember the rest. Also accused of nitpicking.

I've been in the industry for a while now and though in general things are good, every now and then something small like this happens and it makes you check the date (yes it's still 2018, I didn't go back 20 years).

To be fair, I know my manager was being funny, but it's easy to joke at someone else's expense.

Wondering, other's experiences on both sides. Have you noticed changes in your workplace, for better hopefully? Maybe other ways you were discriminated against or singled out?