TailingsPond + 495 GE August 18, 2023 (edited) https://www.msn.com/en-ca/money/topstories/oil-prices-hit-two-week-low-on-china-fears-hawkish-fed-outlook/ar-AA1fn3Vv?rc=1&ocid=winp1taskbar&cvid=5e0b5dc43ace4935e3a449d45dbe2026&ei=27 "Oil prices fell to a two-week low in Asian trade on Thursday, extending recent losses as markets fretted over an economic slowdown in China, while strength in the dollar also weighed amid continued signs of a hawkish Federal Reserve. A bigger-than-expected draw in U.S. inventories largely failed to pull oil prices from a three-day tailspin, as Energy Information Administration (EIA) data also showed that U.S. production came near pre-COVID highs in recent weeks." Edited August 18, 2023 by TailingsPond Quote Share this post Link to post Share on other sites
turbguy + 1,413 August 18, 2023 It is rare in the modern record to have a tropical system move through Southern California. If Hilary makes landfall in California, it would be the first tropical storm to do so in the state since 1939. The ocean water off the Mexican coast is much warmer than normal. Pray for the Southwest. https://www.msn.com/en-us/weather/topstories/for-1st-time-in-84-years-a-tropical-storm-may-make-landfall-in-california/ar-AA1foPpb Quote Share this post Link to post Share on other sites
turbguy + 1,413 August 18, 2023 (edited) WOW! More than $5 per KWh in Texas! Edited August 18, 2023 by turbguy Quote Share this post Link to post Share on other sites
turbguy + 1,413 August 18, 2023 (edited) In the meantime, the Southwest Power Pool is importing to Texas, about 800 MW, with their system price of about $0.35 per KWh. What a deal! Edited August 18, 2023 by turbguy Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP August 18, 2023 7 hours ago, turbguy said: WOW! More than $5 per KWh in Texas! Why is the price so high in Texas and so low in the S.West pool? What are the drivers for this? Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP August 18, 2023 India Approves $7B Electric City Bus Scheme https://oilprice.com/Latest-Energy-News/World-News/India-Approves-7B-Electric-City-Bus-Scheme.html Quote Share this post Link to post Share on other sites
turbguy + 1,413 August 18, 2023 4 hours ago, Rob Plant said: Why is the price so high in Texas and so low in the S.West pool? What are the drivers for this? Greed. Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP August 18, 2023 23 minutes ago, turbguy said: Greed. Wow, isnt there some kinda watchdog against power companies ripping off the consumer? Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL August 19, 2023 (edited) On 8/17/2023 at 8:38 PM, TailingsPond said: You removed the last sentence from that paragraph; I wonder why? Do not cherry pick pieces you like and ignore the rest. In reality they think China demand is going to drop way off (to less than 50% of this year peak). Here is the full paragraph: "World oil demand is scaling record highs, boosted by strong summer air travel, increased oil use in power generation and surging Chinese petrochemical activity. Global oil demand is set to expand by 2.2 mb/d to 102.2 mb/d in 2023, with China accounting for more than 70% of growth. With the post-pandemic rebound running out of steam, and as lacklustre economic conditions, tighter efficiency standards and new electric vehicles weigh on use, growth is forecast to slow to 1 mb/d in 2024." When you start to forecast beyond twelve months to two years, the value of the forecast is reduced due to unforeseen circumstances. What is known is that oil demand is at an all-time high and the markets are still hot for oil and gasoline. That is something which can be stated without qualification. Edited August 19, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
turbguy + 1,413 August 19, 2023 On 8/18/2023 at 8:00 AM, Rob Plant said: Wow, isnt there some kinda watchdog against power companies ripping off the consumer? It's called "the free market". Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP August 21, 2023 On 8/19/2023 at 3:52 PM, turbguy said: It's called "the free market". Oh dear! Quote Share this post Link to post Share on other sites
turbguy + 1,413 August 22, 2023 Nothing to see here. Move along... How a Small Group of Firms Changed the Math for Insuring Against Natural Disasters https://www.nytimes.com/2023/08/16/business/reinsurance-global-crises.html?unlocked_article_code=MJRhefHhs4WkNGMrko9N5dV1if7KoCcVgEEvzL7JyJkeUAnoUm7Wrk-CoH3reRjdiOu8pBplZltI8QmTbjCe76ddFEZu8vk11zEBvN6KiSdZ_gdtap2h5ffqibweCDviCz7o9RP_LVKGRsMm-O6ymBBE-t2Be1bG5CeV3pUl7Ii7FL5SGkWrFS1Y4C8P8OZNWAO4kNc_Q1uKz2ABGc1su5P0iKtLJaHjKtJ3wRvU8eeJLv3ASTM0Nsgl3C8GI0jrVJr6NYX7OzyQEN-FDCKM_sShLruLq3K4OtTBnEPDPK6lzYuS2PhBsl7yGQ1gwFXxUWp6j6j_abaqnBcvsT_Xaa8a5i4&smid=url-share Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL August 22, 2023 (edited) 7 minutes ago, turbguy said: Nothing to see here. Move along... How a Small Group of Firms Changed the Math for Insuring Against Natural Disasters https://www.nytimes.com/2023/08/16/business/reinsurance-global-crises.html?unlocked_article_code=MJRhefHhs4WkNGMrko9N5dV1if7KoCcVgEEvzL7JyJkeUAnoUm7Wrk-CoH3reRjdiOu8pBplZltI8QmTbjCe76ddFEZu8vk11zEBvN6KiSdZ_gdtap2h5ffqibweCDviCz7o9RP_LVKGRsMm-O6ymBBE-t2Be1bG5CeV3pUl7Ii7FL5SGkWrFS1Y4C8P8OZNWAO4kNc_Q1uKz2ABGc1su5P0iKtLJaHjKtJ3wRvU8eeJLv3ASTM0Nsgl3C8GI0jrVJr6NYX7OzyQEN-FDCKM_sShLruLq3K4OtTBnEPDPK6lzYuS2PhBsl7yGQ1gwFXxUWp6j6j_abaqnBcvsT_Xaa8a5i4&smid=url-share Sure, insurance and reinsurance costs have risen, so have the costs of everything else...it's called "inflation". Some reality at the end of this article putting things into perspective, "But not all reinsurers have backed away from insurers in areas facing increasing risk from natural disasters. The reinsurance business of Berkshire Hathaway, the conglomerate owned by Warren E. Buffett, recently made a $1 billion deal with Florida’s state-run insurer, Citizens Property Insurance Corporation. It is Citizens’ largest coverage agreement to date with a single company for traditional reinsurance. Mr. Powers said that reinsurance prices could come down sooner than most people were expecting, and that reinsurers would stay away only for so long before they started to feel that they were missing out. “People realize the sky hasn’t fallen,” he said, “and they want to make money.”" Edited August 22, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL August 22, 2023 (edited) Insurance companies have considered stopping business insurance in California. Probably not because of "climate change" but because of change in the political climate in California. https://www.newsweek.com/store-retail-violence-robbery-theft-stealing-california-1804565 "San Francisco has been gripped by a crimewave that has seen Whole Foods close its downtown location after just a year of business, with bosses saying they were unable to "ensure the safety" of their staff in the city. Nordstrom followed suit by leaving the city this month, but many smaller businesses have had no choice but to remain, despite attacks on their premises. The proposed new laws come as stores have blamed shoplifting for hitting their businesses, with Target issuing a statement in November blaming "organized retail crime" for an eye-watering $400 million loss in its profits in 2022." Edited August 22, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
Eyes Wide Open + 3,545 August 22, 2023 (edited) 41 minutes ago, Ecocharger said: Insurance companies have considered stopping business insurance in California. Probably not because of "climate change" but because of change in the political climate in California. https://www.newsweek.com/store-retail-violence-robbery-theft-stealing-california-1804565 "San Francisco has been gripped by a crimewave that has seen Whole Foods close its downtown location after just a year of business, with bosses saying they were unable to "ensure the safety" of their staff in the city. Nordstrom followed suit by leaving the city this month, but many smaller businesses have had no choice but to remain, despite attacks on their premises. The proposed new laws come as stores have blamed shoplifting for hitting their businesses, with Target issuing a statement in November blaming "organized retail crime" for an eye-watering $400 million loss in its profits in 2022." The progressive liberal dogma has literally destroyed Portland Oregon..financial collapse has arrived. Everybody hates Portland: The city’s compounding crises are an X-factor this year https://www.opb.org/article/2022/05/13/portland-oregon-crime-homelessness-gloom-election-politics/ Portland exodus cost Multnomah County $1 billion https://www.axios.com/local/portland/2023/08/16/portland-migration-leaving-cost-multnomah-county-1-billion It's a hollowed out shell': Portland business owners say they're fleeing crime-ridden Dem-led city en masse after it turned from the 'crown jewel of the West Coast' into criminal-run city Public data shows that since the pandemic, more than 2,600 downtown businesses have filed changes of address with the U.S. Postal Service to leave their downtown ZIP codes. https://www.dailymail.co.uk/news/article-11807717/Portland-business-owners-say-theyre-fleeing-city-en-masse-crime.html#:~:text=Public data shows that since,leave their downtown ZIP codes. Edited August 22, 2023 by Eyes Wide Open 1 Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE August 22, 2023 Climate change deniers are far right politically, what a surprise (not). Thankfully for the planet the alt-right people are losers with no power. The world will carry on without listening to them. 2 Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL August 22, 2023 (edited) 41 minutes ago, TailingsPond said: Climate change deniers are far right politically, what a surprise (not). Thankfully for the planet the alt-right people are losers with no power. The world will carry on without listening to them. You mean that the alt-right folks are the only ones who support respect for businesses and oppose widespread theft and violence? I think that you are wrong about the man in the street, most of whom respect the law. The real climate change deniers are the ones who cling to the anthropogenic CO2 explanations of change in spite of the evidence to the contrary. That is extreme ostrich behavior. Edited August 22, 2023 by Ecocharger 1 Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE August 22, 2023 1 hour ago, Ecocharger said: You mean that the alt-right folks are the only ones who support respect for businesses and oppose widespread theft and violence? I think that you are wrong about the man in the street, most of whom respect the law. The real climate change deniers are the ones who cling to the anthropogenic CO2 explanations of change in spite of the evidence to the contrary. That is extreme ostrich behavior. The alt-right use much more violence. NRA gun nuts, "Proud boy stand by" and of course the deaths caused by the capitol riot. Watch history unfold and you will continue to see you side with the losers. The vast majority do not agree with you, and that is all that matters. Making fun of California, the richest state in the USA... 2 Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP August 22, 2023 Southeast Asia's $76 Billion Green Energy Push https://oilprice.com/Alternative-Energy/Renewable-Energy/Southeast-Asias-76-Billion-Green-Energy-Push.html Quote Share this post Link to post Share on other sites
Eyes Wide Open + 3,545 August 23, 2023 On 8/21/2023 at 8:09 PM, Ecocharger said: That is extreme ostrich behavior. Ya Don't say.. 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL August 23, 2023 On 8/22/2023 at 12:57 AM, TailingsPond said: The alt-right use much more violence. NRA gun nuts, "Proud boy stand by" and of course the deaths caused by the capitol riot. Watch history unfold and you will continue to see you side with the losers. The vast majority do not agree with you, and that is all that matters. Making fun of California, the richest state in the USA... I disagree. When stores are looted and businesses leave the state because they cannot get insurance, everyone becomes a victim. You will find that no reasonable person supports your crowd. 2 1 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL August 23, 2023 21 hours ago, Rob Plant said: Southeast Asia's $76 Billion Green Energy Push https://oilprice.com/Alternative-Energy/Renewable-Energy/Southeast-Asias-76-Billion-Green-Energy-Push.html Right now China is ramping up coal and oil demand...they have no intention of phasing out fossil fuels, that is just an empty rhetorical gesture. 1 2 Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP August 23, 2023 2 hours ago, Ecocharger said: Right now China is ramping up coal and oil demand...they have no intention of phasing out fossil fuels, that is just an empty rhetorical gesture. I agree they absolutely cant do without FF for the foreseeable future, however as they currently import the majority of FF it makes all the sense in the world to utilise other powergen sources such as renewables where they dont have that reliance on other nations resources. China would be very stupid to keep the status quo which is why they are looking at alternative sources and now implementing them wherever possible. https://www.theguardian.com/world/2023/jun/29/china-wind-solar-power-global-renewable-energy-leader if you look at the energy consumption by source in the link below you will see China's energy mix is far more diverse than it was in 2010, and coal consumption which was 70% of the energy mix in 2010 was only 55% in 2022. That being said I agree that China's demand for energy has increased massively so despite alternative energies now being adopted FF usage has still risen. https://ourworldindata.org/energy/country/china Quote Share this post Link to post Share on other sites
footeab@yahoo.com + 2,136 August 23, 2023 "alternative sources"... IN order of significance Hydropower(Still have 300GW to build out and they already have 700GW) Natural Gas Nuclear(huge amount coming online soon) Wind which may or may not even be tied to the grid and even by their own "data" has a capacity factor 50% lower than in the EU which itself does not have great wind resources but is pretending is economical but a great "jobs" program... Solar which may or may not even be tied to the grid Quote Share this post Link to post Share on other sites
footeab@yahoo.com + 2,136 August 23, 2023 On 8/18/2023 at 6:36 AM, turbguy said: Greed. Baloney, 98.7% of all power consumed is on fixed rate... Stop being a pedantic idiot quoting spot peak power plant prices This is embarrassing as it is based on next day predicted which by ERCOT's own admission they on AVERAGE overestimate by about 1-->2GW out of over 80GW peak standard. https://www.ercot.com/gridinfo/load/forecast Quote Share this post Link to post Share on other sites
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