GREEN NEW DEAL = BLIZZARD OF LIES

[Ecocharger + 1,383]

Just now, Jay McKinsey said:

US numbers for Nov:

Plug-In Vehicle Sales

A total of 112,421 plug-in vehicles (89,082 BEVs and 23,339 PHEVs) were sold during November 2023 in the United States, up 30.6% from the sales in November 2022. PEVs captured 9.23% of total LDV sales this month.

Cumulatively, 1,262,963 PHEVs and BEVs have been sold in 2023. In total, 4,544,680 PHEVs and BEVs have been sold since 2010.

Jay, you are dodging the issues.

The point is that about 99% of the transportation sector is fossil fuels. 

I guess that your dumbstruck leader has nothing to say about that.

Biden & Co. are too busy emitting record amounts of intellectual pollution.

[Ecocharger + 1,383]

The post mortems for COP28 show that reality is now being acknowledged, fossil fuels still rule and will going forward.

https://oilprice.com/Energy/Energy-General/A-Big-Oil-Reality-Check-for-the-Energy-Transition.html

"The participating nations in COP28 have managed to come up with a final agreement that calls for the ‘orderly’ transition away from fossil fuels.

What many of the proponents of a fast phase-out of fossil fuels appear to have realized is that another course of action is impossible for oil-producing countries.

Oil and gas demand is going nowhere anytime soon unless, of course, governments bite the bullet and mandate lower energy consumption."

 

"Exxon and Chevron, two of the world's biggest oil companies, recently announced higher capital spending plans for 2024, with most of the additional spending going into upstream activities, which usually translates as higher production.

Shell, BP, and Total have also signaled they have pretty ambitious plans for their core business, even as they invest increasingly in alternative energy such as wind and solar."

Edited December 14, 2023 by Ecocharger

[Ecocharger + 1,383]

Renewable dedicated funds are in a bad way.

This was a foolish idea to begin with, it has now degenerated further.

https://oilprice.com/Energy/Energy-General/ESG-Managers-See-Big-Oils-Climate-Pledge-as-Insufficient.html

"...in the third quarter of 2023 alone, investors pulled $2.7 billion from U.S. sustainable funds, continuing a trend of net withdrawals that started in the fourth quarter of 2022, per data from Morningstar Direct. Over the past year, investors have withdrawn a total of $14.2 billion from U.S. sustainable funds, the data showed."

Edited December 14, 2023 by Ecocharger

[Rob Plant + 2,648]

18 hours ago, Eyes Wide Open said:

First sign of addiction..DENIAL

Revealed: Brits are paying the highest electricity bills in the entire world

https://www.cityam.com/revealed-brits-are-paying-the-highest-electricity-bills-in-the-entire-world/

 

Higher UK energy bills here to stay, warns oil company boss

Equinor chief says bills won’t return to levels seen before Ukraine invasion given windfall taxes and move to greener energy

While in recent weeks wholesale gas prices have returned to pre-Ukraine war levels, Opedal said that with the Russian war prompting a “rewiring’ of the energy system, bills would not return to historic levels of an average of about £1,300 annually.

https://www.theguardian.com/business/2023/jan/16/higher-uk-energy-bills-here-to-stay-warns-oil-company-boss#amp_tf=From %1%24s&aoh=17024913935466&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2023%2Fjan%2F16%2Fhigher-uk-energy-bills-here-to-stay-warns-oil-company-boss

Much more to come on the below statement...much more.

While in recent weeks wholesale gas prices have returned to pre-Ukraine war levels, 

European gas prices fall to pre-Ukraine war level

 

https://www.theguardian.com/environment/2022/dec/29/european-gas-prices-fall-to-pre-ukraine-war-level

 

Blimey youre dim!

You post an article thats a year old for Gods sake. The ridiculous electricity costs were because of the ridiculous price of NG at the time HOW MANY MORE TIMES???

Our electricity prices have plummeted since it normalised.

You even say so yourself which means it was all about the NG price and yet you keep harping on that it was because the UK has loads of renewables and that was the cause. 

You cant have it both ways EWO either the sky high prices were a direct correlation to the sky high NG costs or it was renewables like you keep saying. Why dont you go away, lie down, have a think about it for a while and then come back to us with what you come up with!

I'm sure your reply will be illuminating for us all 😄

Edited December 14, 2023 by Rob Plant

[Rob Plant + 2,648]

9 hours ago, Ecocharger said:

I don't have to project anything, the numbers speak for themselves.

All-time high oil production..mmmm.

That does not compute in your own little world.

No you don't have to make projections/predictions BUT YOU DID and did so several times on here and mocked people who disagreed at the time.

All time high oil production???? NO that is only in USA, globally it isn't, did you miss the latest OPEC+ cuts in production?? Try again!

OPEC : Several OPEC+ countries announce additional voluntary cuts to the total of 2.2 million barrels per day

World Crude Oil Production (ycharts.com)

"That does not compute in your own little world." No it doesnt because I look at the world numbers not just USA figures, it is you that lives in his little world as you think this ends at the US border!

It is you that looks foolish now don't you think?

[Rob Plant + 2,648]

16 hours ago, Eyes Wide Open said:

First sign of addiction..DENIAL

Revealed: Brits are paying the highest electricity bills in the entire world

https://www.cityam.com/revealed-brits-are-paying-the-highest-electricity-bills-in-the-entire-world/

 

Higher UK energy bills here to stay, warns oil company boss

Equinor chief says bills won’t return to levels seen before Ukraine invasion given windfall taxes and move to greener energy

While in recent weeks wholesale gas prices have returned to pre-Ukraine war levels, Opedal said that with the Russian war prompting a “rewiring’ of the energy system, bills would not return to historic levels of an average of about £1,300 annually.

https://www.theguardian.com/business/2023/jan/16/higher-uk-energy-bills-here-to-stay-warns-oil-company-boss#amp_tf=From %1%24s&aoh=17024913935466&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2023%2Fjan%2F16%2Fhigher-uk-energy-bills-here-to-stay-warns-oil-company-boss

Much more to come on the below statement...much more.

While in recent weeks wholesale gas prices have returned to pre-Ukraine war levels, 

European gas prices fall to pre-Ukraine war level

 

https://www.theguardian.com/environment/2022/dec/29/european-gas-prices-fall-to-pre-ukraine-war-level

 

cost of Powergen in the UK over the last 12 months!

Get it now?

[Ecocharger + 1,383]

5 hours ago, Rob Plant said:

No you don't have to make projections/predictions BUT YOU DID and did so several times on here and mocked people who disagreed at the time.

All time high oil production???? NO that is only in USA, globally it isn't, did you miss the latest OPEC+ cuts in production?? Try again!

OPEC : Several OPEC+ countries announce additional voluntary cuts to the total of 2.2 million barrels per day

World Crude Oil Production (ycharts.com)

"That does not compute in your own little world." No it doesnt because I look at the world numbers not just USA figures, it is you that lives in his little world as you think this ends at the US border!

It is you that looks foolish now don't you think?

Rob, you have trouble reading simple numbers. Oil demand and production are still growing as we speak, just at a slower rate.

In case you did not know, growth means increasing. That is what is happening to oil demand, it is increasing.

https://oilprice.com/Latest-Energy-News/World-News/IEA-Raises-Its-2024-Oil-Demand-Growth-Forecast.html

Demand growth is slowing down this quarter, the agency said in its Oil Market Report for December, and revised down its Q4 consumption growth forecast by nearly 400,000 bpd, with Europe making up more than half of the downward revision.

“Evidence of a slowdown in oil demand is mounting, with the pace of expansion set to ease from 2.8 mb/d y-o-y in 3Q23 to 1.9 mb/d in 4Q23,” said the agency, which advocates for a faster energy transition.

Higher interest rates feeding through the real economy and a very soft European demand amid a broad manufacturing and industrial slump were the reasons for the downward revision for this quarter, which also led to the IEA adjusting its 2023 demand growth forecast down by 90,000 bpd. The agency now sees this year’s growth at 2.3 million bpd."

"Next year, oil consumption growth “is expected to ease significantly,” to 1.1 million bpd, the IEA said.

But its 2024 demand forecast from today is around 130,000 bpd higher than the estimated growth of 930,000 bpd for next year in the November report. 

Edited December 14, 2023 by Ecocharger

[Rob Plant + 2,648]

1 hour ago, Ecocharger said:

Rob, you have trouble reading simple numbers

Do I?

I seem to recall reading $100/b by the end of this year several times on this thread, pretty sure you wrote those very words!

Time to eat crow as you say over there!

[Jay McKinsey + 1,489]

Watch the Fed chairman admit that I was right, he is an idiot and it was all about supply:

https://youtu.be/gaJ8wkndmSo?t=1070

I just love how he meekly says inflation is where it is expected to be. Yep, expected by those Fed economist supply side reports I highlighted. He even says GDP growth could have been higher, that is because he is acknowledging that they raised interest rates too high. All talk now is about reducing rates fast.

So Eco what does all that crow taste like? 

 

 

Edited December 15, 2023 by Jay McKinsey

[Ecocharger + 1,383]

11 hours ago, Rob Plant said:

Do I?

I seem to recall reading $100/b by the end of this year several times on this thread, pretty sure you wrote those very words!

Time to eat crow as you say over there!

Trying to change the subject? Rob, you claimed that oil was in decline and you got called out for  your mistake.

Just politely apologize and move on.

Sure, $100 was predicted by some, but we have been going into recession. Not a surprise.

However, the numbers show that you are flat wrong and ignorant about oil production. Live with it.

Despite a slowing economy, with falling prices for EVs.

Edited December 15, 2023 by Ecocharger

[Ecocharger + 1,383]

7 hours ago, Jay McKinsey said:

Watch the Fed chairman admit that I was right, he is an idiot and it was all about supply:

https://youtu.be/gaJ8wkndmSo?t=1070

I just love how he meekly says inflation is where it is expected to be. Yep, expected by those Fed economist supply side reports I highlighted. He even says GDP growth could have been higher, that is because he is acknowledging that they raised interest rates too high. All talk now is about reducing rates fast.

So Eco what does all that crow taste like? 

 

 

You mean that the Fed followed the monetary approach to controlling inflation, just like every responsible central bank on this planet?

And it worked. So I guess that you are out of touch, as usual, Jay.

Supplies of excess EVs continue to pile up on sales lots, so where do you see the supply problem there, Jay? That is simply a lack of demand for those unattractive items. Prices in free fall for EVs.

 

Edited December 15, 2023 by Ecocharger

[Jay McKinsey + 1,489]

5 minutes ago, Ecocharger said:

You mean that the Fed followed the monetary approach to controlling inflation, just like every responsible central bank on this planet?

And it worked. So I guess that you are out of touch, as usual, Jay.

 

That is not what he said you economic imbecile. He said it was all about supply and that it could have been better but they screwed up with too high a rate hike. He stated over and over that the solution was supply, not monetary policy.

Edited December 15, 2023 by Jay McKinsey

[Ecocharger + 1,383]

3 minutes ago, Jay McKinsey said:

That is not what he said you economic imbecile. He said it was all about supply and that it could have been better but they screwed up with too high a rate hike. 

He followed the monetary approach and it worked.

Just like every other central banker on the planet.

Edited December 15, 2023 by Ecocharger

[Jay McKinsey + 1,489]

1 minute ago, Ecocharger said:

He followed the monetary approach and it worked.

Not according to him. 

[Ecocharger + 1,383]

Just now, Jay McKinsey said:

Not according to him. 

Doesn't matter, he did what he had to do, take the monetary approach, just like every other central banker. Duh.

[Jay McKinsey + 1,489]

Just now, Ecocharger said:

Doesn't matter, he did what he had to do, take the monetary approach, just like every other central banker. Duh.

And now he is admitting his mistake. Duh.

[Ecocharger + 1,383]

Just now, Jay McKinsey said:

And now he is admitting his mistake. Duh.

Not a mistake, he did what he had to do. No choice there. Duh.

[Jay McKinsey + 1,489]

Just now, Ecocharger said:

Not a mistake, he did what he had to do. No choice there. Duh.

Now that he has acknowledged his mistake the plan is to cut rates dramatically:

Dow closes at record high after Fed signals it will cut interest rates in 2024

US central bank holds interest rates at 22-year high, but expects to cut rates three times next year as inflation continues to fade

[Ecocharger + 1,383]

Just now, Jay McKinsey said:

Now that he has acknowledged his mistake the plan is to cut rates dramatically:

Dow closes at record high after Fed signals it will cut interest rates in 2024

US central bank holds interest rates at 22-year high, but expects to cut rates three times next year as inflation continues to fade

"Expects" are worthless, we will see what the actual numbers are.

[Jay McKinsey + 1,489]

1 minute ago, Ecocharger said:

"Expects" are worthless, we will see what the actual numbers are.

HaHa, that is what the chairman said. Those reports you disregarded showed the proof of what has been happening and the Fed chairman has acknowledged it. Nowhere in his explanation does monetary policy get mentioned. All he can talk about is supply. Try listening to it again:

https://youtu.be/gaJ8wkndmSo?t=1071

[Ecocharger + 1,383]

28 minutes ago, Jay McKinsey said:

HaHa, that is what the chairman said. Those reports you disregarded showed the proof of what has been happening and the Fed chairman has acknowledged it. Nowhere in his explanation does monetary policy get mentioned. All he can talk about is supply. Try listening to it again:

https://youtu.be/gaJ8wkndmSo?t=1071

Judge him by what he does, not by what he says.

He does the same thing that every central banker in the world does, the monetary approach.

Live with it.

Edited December 15, 2023 by Ecocharger

[Jay McKinsey + 1,489]

1 minute ago, Ecocharger said:

Judge him by what he does, not by what he says.

He does the same thing that every central banker in the world does, the monetary approach.

Live with it.

Haha that is the best you have? He just acknowledged his mistake and a change of course.  

[Ecocharger + 1,383]

4 minutes ago, Jay McKinsey said:

Haha that is the best you have? He just acknowledged his mistake and a change of course.  

We will see what happens. He has so far followed the monetarist approach.

If he departs from monetarism, there could well be a resurgence of inflation and more pain ahead.

We have seen these patterns before.

Some people never learn.

Edited December 15, 2023 by Ecocharger

[Jay McKinsey + 1,489]

2 minutes ago, Ecocharger said:

We will see what happens. He has so far followed the monetarist approach.

If he departs from monetarism, there could well be a resurgence of inflation and more pain ahead.

We have seen these patterns before.

Some people never learn.

I agree that he has so far followed the monetarist approach and he just acknowledged that he was wrong in a public speech. The year could have had "potential growth higher" he said. So what held it back? The only thing holding it back was high interest rates.

Yes you never learn.

 

[Ecocharger + 1,383]

44 minutes ago, Jay McKinsey said:

I agree that he has so far followed the monetarist approach and he just acknowledged that he was wrong in a public speech. The year could have had "potential growth higher" he said. So what held it back? The only thing holding it back was high interest rates.

Yes you never learn.

 

If he reduces interest rates too quickly, we are back on the high inflation track and that means further pain down the road.

We learned those lessons before, but each generation has to learn them over again.

With the current guy in the White House, should we be surprised?

Edited December 15, 2023 by Ecocharger