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  2. First I've heard of that but I won't argue the point - another blow to the viability of renewable energy..
  3. Yesterday
  4. Manifa makes absolutely no sense. Maybe it made sense in the 50s? Obviously someone thought so, but why they thought so is unclear to me. Was it because there was no other oil available to tap? Is it because they want to tap every ounce of oil the country has? Was it because they wanted to experiment (in a very expensive way) with drilling technology in order to be able to tap other hard-to-get oil in the future? Sounds like I'm preaching to the choir, but Manifa is a complicated monstrosity. Of course, as @energyeconmentioned above, much of the costs are sunk already and shouldn't be considered going forward. But at some point you are throwing good money after bad. The conspiracy-theorist in me is struggling to come up with a fantastic reason for keeping on keeping on here, but alas, I cannot. Where is @Marina Schwarz 's creative brain when you need it? As an aside, didn't this project hit a roadblock late last year? Somewhere I remember reading about how whatever it was (maybe it's what you were talking about, @NickW) had affected the amount of oil they could get out of the project longer-term. Of course, who really knows, what with all of Aramco's lack of transparency and all.
  5. Global investment in renewables fell 7% to $318 billion last year with the decline set to continue into 2018, threatening energy security, climate change and air pollution goals, according to IEA. Fossil fuels increased their share of energy supply investment for the first time since 2014, to $790 billion, and will play a significant role for years on current trends.
  6. Bitcoin has suddenly exploded over 10% higher, smashing through its 50-day moving average, above $7000 for the first time since early June. BTC is now testing up towards its 100DMA, ramping over $600 in 30 minutes.
  7. So far as know, lithium cannot be recycled and is as undesirable as nuclear waste.
  8. Well, as far as I know, other manufacturers are already putting money to make it happen. https://electrek.co/2018/01/29/mercedes-benz-electric-vehicle-production-global-battery-network/
  9. There has never been progress in a country where there is permanent political instability especially perpetrated by enemies of that country.God protects.
  10. China was built on "theft". They steal the labor of their people, while stealing the technology of foreign countries. Regime.
  11. It has had an effect on prices just mentioning the sell-off of as much as 30 million barrels ... (or more)
  12. So, now Putin has offered to help America with regard to oil prices ... Does anyone see a problem with that?
  13. I'd be looking at the frac sand plays here. There's also a land rush on this because it makes a lot of sense--much more than transporting all that frac sand from Wisconsin, for instance.
  14. Also would pay attention specifically to Lukoil here ... I think they are getting it worse than the other giants in terms of protests.
  15. sure .. and indications are that they're offering up extra volume to clients in Asia, beyond contractual agreements. Not sure if anyone's taking them up on it yet, but ...
  16. Exactly, Economic Partnership Agreement that brings less tariffs, common high standards, safe data transfers for 74’000 EU companies already exporting to Japan. A win-win that will bring jobs and growth to the EU and Japan...Good deal.
  17. I hate to say this, but, I rest my case, the jury has spoken, 5 min recess.
  18. Wolf Blitzer angry with Senator. Wolf acting out of his form. https://www.infowars.com/rabid-wolf-blitzer-flips-out-on-rand-paul-for-standing-with-trump-questioning-u-s-intel/ Swap creatures in their habitat https://www.youtube.com/watch?v=GiUWtQCndNQ
  19. I dont really think the situation could be exactly like this, and people got tired of the many deaths already being a toll after past protests having led nowhere and to nothing else than the destruction of the opposition. Regime change will come in another way in my view, something unexpected, unpredicted.
  20. Eventually, they will run out of gas 🙂
  21. Hum... After the Helsinki Press Conference the winner seems to be ... Vladimir Putin. The EU is not finished. What is really finished now is European confidence in the US. While Trump was showing his love to Putin in Finland, there was a EU-China summit in China. Given the erratic trumpian policy, it seems that on many matters the EU is now closer to China than to the US (climate change, trade, Iran deal...). http://www.consilium.europa.eu/media/36165/final-eu-cn-joint-statement-consolidated-text-with-climate-change-clean-energy-annex.pdf
  22. The point to remember when you try to predict oil news, is you could be right in the future, but first it will go the other way a couple to times, enough of a move, to make your news prediction obsolete, so this is the big danger with oil, its large fluctuations, you could be right, but still lose your shirt, so the way to make it in the oil business if you are using lots of loans, is to invest in an uptrend, never in a downtrend, or invest in a downtrend if you have large pockets, like BP, XOM, etc., but hope that the downtrend will have an expectation of reversing in the future. From what I wrote here, this means that no matter what your opinion is, as some point you will be right.
  23. Charts speak louder than words. What the fundamental news item will be, I have no clue, it can be anyone's guess. I am sure there will be lots of guesses after it moves up. We may even get a news event after the fact, well I am sure we will. Stay tuned, Oil is like watching a TV spook series, full of surprises. I will say this, this is my opinion from the charts, I sometimes don't read it right, but it's very rare. Do not use this or any of my posts as trading advice,I am not a qualified adviser. Who knows they may even try very hard to take out the $76 high. You can't underestimate the bulls.
  24. Last week
  25. Not really. Coal assets can be sold off at any time as long as coal has a profitable future. And it will - and not simply for coking coal for steel-making. The real future value in coal is as a precursor chemical for the manufacture of diesel. Coal diesel is remarkably pure, it burns very cleanly, and you don't get those NOx pollutants. For years the Governor of Montana would drive around in a Volkswagen Jetta diesel running on coal distilled diesel, he would rave about it to anyone and everyone. (At that time the Jetta was just about the only passenger car with a diesel engine.) Remember that in 2020 the IMO (the marine regulatory agency) has Regulations requiring all ocean ships to run on 0.5% sulfur fuels, and bunker does not meet that spec by a long shot. While efforts are being made to create a low-sulfur heavy fuel oil, how much will be available is murky - probably not nearly enough. The substitute liquid fuel will be methanol, but that still requires conversion expenditures. So most ship owners will end up buying marine diesel, basically #2 heating oil and possibly some additives tossed in. Where is all this diesel going to come from? Nobody has it on tap, so it has to compete with, and crowd out, truck diesel. That means that the buyer with the deepest pockets gets to buy the diesel. Not the trucker. What all this does is create a huge new market demand for coal diesel. I anticipate that coal will be a valuable feedstock soon enough. The guys that bought those coal mines will have the last laugh. Big bucks coming in coal, give it a few years.
  26. Just remember there will be forces larger than life, trying to push the oil prices back up, if we are in a downtrend, they may succeed. So to hope for prices to go straight down, is a fantasy. These large trading vehicles are very volatile, and if you don't time it right, especially if you are heavily margin-ed, a MC will be in order. Therefore even if you know that prices are going up or down, if you don't time it right, you can still lose your shirt, arm or both.
  27. Here is the news that just came out on ExxonMobil, day after I said XOM would fall about 20%, or from $83 to $70s. But I didn't base it on any event, just the charts. I guess the even I did base on was simply that if OIl went down, their profits would go down, but it could have been any event. https://oilprice.com/Energy/Energy-General/Exxons-Papua-New-Guinea-Gas-Project-Is-Dead-In-The-Water.html another one bites the dust.
  28. Also, the plus and minus impacts differ widely across the country. In Texas, mostly a big Yahoo! with moderate oil price increases. Everyone loses if we go way high, accelerating a boom/bust. Every energy source in history previous to oil has lost dominance, and it's a better alternative that drives it. It's a when, not an if. Coal, for all the decline, still provides a lot of btus, but the jobs and profits aren't there like before. Oil and gas has a long run yet. But proportionally, other energy sources will probably grow. Even harnessing tides works with high price energy. The amount of energy waste in the world is staggering, and it's not because we hate the environment, it's cheap to waste, typically cheaper than conservation. Look at all the packing just to buy a phone. High prices drive change.
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