GREEN NEW DEAL = BLIZZARD OF LIES

[Ecocharger + 1,380]

3 hours ago, notsonice said:

Coal and Oil....terminal decline...

 

Peak Coal and Peak oil already happened..... China is in a bad bad deep recession which will last for years until they can figure out what to  do with 65 million empty apartments. The only bright spot in China is the building of Solar and Wind Farms and Pumped storage and Nuclear.....No need for more coal.......Coal prices are crashing fast with the lack of demand....Oil prices.....$70 Brent by August 1

Enjoy the transition to renewables and EVs

 

Wall Street Turns Bearish As China's Economic Recovery Stalls

By Alex Kimani - Jun 18, 2023, 6:00 PM CDT

• Despite relaxed Covid-19 measures, China's economic recovery has been less impressive than anticipated, with a weak industrial recovery and lower-than-expected demand for oil impacting global prices.
• Beijing is considering a package of stimulus measures to boost the economy, with Wall Street responding with growing bearishness about the oil price outlook due to increased supply and recession fears.
• The oil markets are experiencing significant volatility as they balance bullish and bearish factors, including higher U.S. crude production and the potential resumption of oil exports from Iran.in Our Community

Last December, Beijing announced the most sweeping changes to its strict Covid-19 guidelines, including relaxing testing requirements and travel restrictions. As the world’s largest importer of crude, most commodity experts were optimistic that the country's economy would recover quickly and give a healthy boost to oil demand, with some even touting a swift return to $100 oil.

Unfortunately, China’s recovery has been less than impressive, and the initial excitement in the oil markets has been tamped down by a harsher reality. China’s industrial recovery has not been up to par and has fared worse than consumer-facing sectors. The transport sector has also been unimpressive with trucking activity failing to pick up as expected. Jet fuel demand has been disappointing with international flights from China only at 39% of pre-pandemic levels.

Immediately after the Covid rules were relaxed, Chinese refiners went on a crude oil buying spree betting on a quick return to downstream demand. But that has failed to materialize leading to onshore inventories climbing to a two-year high.

The current economic outlook is not good, either. Bloomberg has reported that China’s credit demand weakened in May as the economy’s recovery lost steam. Aggregate financing fell to 1.6 trillion yuan ($224 billion) in May, considerably lower than the median estimate of 1.9 trillion yuan.

 

Aggregate financing, a broad measure of credit, was 1.6 trillion yuan ($224 billion) in May, the People’s Bank of China said Tuesday, lower than the median estimate of 1.9 trillion yuan. Other economic data points also point to a slowing economy: inflation remained close to zero, exports contracted for the first time in three months, manufacturing activity also contracted and a rebound in home sales slowed. Meanwhile, private investment in the first four months of the year came to a halt despite a rapid expansion in money supply.

Beijing is now considering deploying a broad package of stimulus measures in a bid to boost the economy. Last week, PBOC Governor Yi Gang hinted at more flexibility in monetary policy, including “counter-cyclical adjustments” that will support the economy, with some analysts saying this signals more easing. 

Wall Street Growing Bearish On Oil

Whether these measures will work as intended and help boost the sputtering economy remains to be seen. Unfortunately, Wall Street is growing increasingly bearish about the oil price outlook. Last week, Goldman Sachs' oil ultrabull Jeff Currie once again lowered his Brent forecast for December, this time to $86 a barrel from $95 and $100 before that. Currie cited increasing supply from Russia, Iran and Venezuela; growing recession fears and persistent headwinds to higher prices from higher interest rates for his growing bearishness.

Analysts at Citi are also quite bearish, recently saying the Saudi cuts are unlikely to sustain a gain into the high $80s or low $90s thanks to lackluster demand and stronger non-OPEC supply by year-end.

However, the oil markets have received some reprieve after the Fed’s decision to pause interest rate hikes. At 9:50 a.m. EST, WTI was trading up 1.2% at $69.34, for a $1.02 gain on the day while Brent crude was trading up 1.57% at $74.36, for a $1.16 gain on the day. The gains have been rather muted after the Fed signaled another half percentage point increase in interest rates by the end of this year. China’s disappointing economic outlook is also giving the bulls a pause.

Overall, oil markets have become highly volatile in the current week as traders try to make sense of a mix of both bullish and bearish drivers. Oil prices rallied mid-week  after the latest EIA report showed crude refining has hit the highest level since August 2019 in anticipation of strong summer demand. However, the same report revealed that U.S. crude production has hit the highest levels since April 2020 while crude exports have declined.

However, crude oil inventories at the WTI pricing hub at Cushing, Oklahoma, rose for the seventh consecutive week and are currently close to the five-year average. The w/w crude oil balance shows unusually large swings in exports and imports. However, the most bearish piece of news came outside the U.S. market with reports that Iran might soon officially resume oil exports with nuclear talks with the U.S. progressing at a faster-than-expected clip.

"Oil prices are caught in a clash between two opposing forces, bearish asset allocators who point to monetary contraction and bullish oil speculators expecting lower inventories in 2H23. The bearish allocators will maintain the upper hand for now, as oil prices struggle to rally until the Fed eases money supply," Bank of America Global Research's Francisco Blanch said in a note.

 

Again you are running from the point...Chinese demand for coal is increasing, despite your nonsense claim above.

You must have skipped Economics 101, your knowledge of market composition is strictly kindergarten.

[Ecocharger + 1,380]

The Green transition is faltering  with battery brigades in violent retreat.

https://oilprice.com/Latest-Energy-News/World-News/UK-Battery-Maker-Sees-Shares-Crash-As-It-Needs-To-Raise-Funds-Within-Weeks.html

"Lithium-ion and battery producer AMTE Power’s shares crashed more than 70 per cent today, following an announcement that the company needed to raise new funds within the next few weeks.

AMTE Power – who are currently set to build a £200m gigafactory in Dundee – said in the announcement that it needed to raise more cash in “no less than four weeks,” and that discussions with investors were ongoing.

 

It warned that without further funding the “recovery of value” by shareholders “would be uncertain.”

The group had previously said in December that it would need to raise more capital by April, in order to meet its operating costs."

Edited June 19, 2023 by Ecocharger

[Rob Plant + 2,635]

On 6/16/2023 at 9:49 PM, footeab@yahoo.com said:

The question is if any of those "other sources" are actually installed and producing power enabling coal to be turned off.   Unless you have NG, the coal is not going to be turned off.  Unless you have equivalent in pumped hydro storage the coal is not going to be turned off.  All you have is excess power potential whenever the sun shines and the wind blows and zero infrastructure can be turned on and off whenever the sun shines and the wind blows.  Solar is more useful than wind by and large as it is fairly well predictable and meets daily maximums in power... so in actuality, solar does not displace coal, it can displace NG.

Oh look

This is where China's powergen comes from and where its going

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/020123-china-to-maintain-renewables-growth-pace-in-2023-despite-uncertainty

From 2025 onwards a definite decline in coal usage.

New build powergen will be almost exclusively renewables.

[turbguy + 1,405]

6 hours ago, Ecocharger said:

Again you are dodging the point, which is that Chinese demand for coal has increased, contrary to the off-topic irrelevancies you are emitting. That is intellectual pollution.

Watch what happens.

Even in China, for every watt-hour supplied by wind and solar, there is one less watt-hour supplied by fossil fuels of all types.

Edited June 19, 2023 by turbguy

[Eyes Wide Open + 3,542]

4 hours ago, Rob Plant said:

Oh look

This is where China's powergen comes from and where its going

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/020123-china-to-maintain-renewables-growth-pace-in-2023-despite-uncertainty

From 2025 onwards a definite decline in coal usage.

New build powergen will be almost exclusively renewables.

Indeed Mr Plant...powering there ghost cities I assume...fascinating is it not! A entire country built on IP theft, ghost cities powered by Green Energy..

 

https://www.cnn.com/2021/10/14/business/evergrande-china-property-ghost-towns-intl-hnk/index.html

 

Ghost towns’: Evergrande crisis shines a light on China’s millions of empty homes

Edited June 19, 2023 by Eyes Wide Open

[Rob Plant + 2,635]

4 minutes ago, Eyes Wide Open said:

Indeed Mr Plant...powering there ghost cities I assume...fascinating is it not! A entire country built on IP theft, ghost cities powered by Green Energy..

 

https://www.cnn.com/2021/10/14/business/evergrande-china-property-ghost-towns-intl-hnk/index.html

 

Ghost towns’: Evergrande crisis shines a light on China’s millions of empty homes

Thought we were discussing power generation in China not their "ghost cities"??

Not much power of any sort needed for them.

[Eyes Wide Open + 3,542]

5 minutes ago, Rob Plant said:

Not much power of any sort needed for them.

Exactly Mr.plant this green energy infrastructure you speak to is powering those cities. Which is as described "Nothing"

There automotive EV's are now be exposed for there true use...there being crushed. Just more propaganda.

Edited June 19, 2023 by Eyes Wide Open

[Rob Plant + 2,635]

1 minute ago, Eyes Wide Open said:

Exactly Mr.plant this green energy infrastructure you speak to is powering those cities. Which is as described "Nothing"

No its powering their industry, how can it be powering their ghost cities when those cities as we have both said don't need any power??? Jeez!

[Eyes Wide Open + 3,542]

7 minutes ago, Rob Plant said:

Jeez

Indeed let's take a dive into that. Lmao the game is almost over. Actually we are on the very brink of war. 

https://www.forbes.com/sites/thebakersinstitute/2023/05/17/how-long-will-it-take-for-chinas-nuclear-power-to-replace-coal/?sh=34c5192f3b1b

How Long Will It Take For China’s Nuclear Power To Replace Coal?

Edited June 19, 2023 by Eyes Wide Open

[Rob Plant + 2,635]

Just now, Eyes Wide Open said:

Indeed let's take a dive into that. Lmao the game is almost over. Actually we are on the very brink of war. 

What?

You go from powergen and deflect to "ghost cities" and now youre on about going to war.

EWO youre smoking some weird shit for sure!

[Eyes Wide Open + 3,542]

54 minutes ago, Rob Plant said:

What?

You go from powergen and deflect to "ghost cities" and now youre on about going to war.

EWO youre smoking some weird shit for sure!

Time to open your Eyes...a monumental effort is being played out by US corporate leaders.

https://www.cnn.com/2023/06/16/business/bill-gates-china-xi-jinping-visit-intl-hnk/index.html

Live TV

 

START THE DAY HERE

Millions facing severe storms, heat warnings today. Blinken meets with China’s Xi Jinping. What’s open and closed on Juneteenth.

Markets 

DOW34,299.120.32%

S&P 5004,409.590.37%

NASDAQ13,689.570.68%

Fear & Greed Index

 

 

 

82

 

 

China’s Xi greets ‘old friend’ Bill Gates in first meeting with a US business magnate in years

By Michelle Toh, CNN

Updated 6:04 AM EDT, Fri June 16, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bill Gates asked if he's a 'hypocrite' for flying on a private jet. See what he said

01:28 - Source: CNN Business

 

Hong KongCNN — 

Bill Gates and Xi Jinping met Friday, marking the Chinese leader’s first known one-on-one meeting with a Western business figure in years.

Gates, the co-founder of Microsoft (MSFT) and world’s fifth-richest man, is in Beijing this week for his first trip to the Chinese capital since 2019, before the pandemic.

Ad feedback

During their meeting, Xi called on Gates to help promote US-China relations, greeting the tech tycoon warmly. “I am very happy to see you. We haven’t seen each other for more than three years … and you are an old friend of ours,” Xi said, according to Chinese state media.

Xi went on to tell Gates that he was “the first American friend I’ve seen this year.”

“I always believe that the foundation of the US-China relationship is in the people. I am placing my hope in the American people,” the Chinese leader was quoted as saying.

 

 

Microsoft co-founder Bill Gates meeting with Chinese leader Xi Jinping in Beijing on Friday.

Pang Xinglei/Xinhua/Alamy

The billionaire’s latest visit comes at a precarious time for US-China relations. Tensions are running high over the future of AI and advanced semiconductors, raids by Chinese officials on international companies, and heightened fears that China could attack Taiwan.

This is not the first time Xi has called on American business leaders to help improve relations between their two countries. In 2021, Xi wrote to Starbucks (SBUX)’ former chairman and CEO Howard Schultz, suggesting he help promote bilateral ties, according to Chinese state media.

https://www.reuters.com/world/china/musk-other-foreign-ceos-visiting-china-silence-is-golden-2023-06-07/

Analysis: For Musk and other foreign CEOs visiting China, silence is golden

https://time.com/5714267/china-green-energy/

China Is Bankrolling Green Energy Projects Around the World

Not only is China today the world’s largest producer of solar panels, wind turbines, batteries and electric vehicles, but it has also been the top investor in clean energy for nine out of the last ten years, according to the Frankfurt School of Finance and Management. Since 2014, Chinese equity investment has supported a total of 12,622 megawatts (MW) of wind and solar projects in South and Southeast Asia alone, according to new research by Greenpeace. That’s the equivalent of 21 standard coal plants or enough to power New York City. The shift from simply exporting to bankrolling green tech—driven by both a drying up of domestic subsidies in China and new incentives to invest abroad—is a boon since “it means China really cares about the future profitability of each project,” says Greenpeace campaigner Liu Junyan.

Beijing’s refocus from fossil fuels to renewable energy is a net positive for a myriad of reasons: protecting scarce resources, cutting carbon emissions that spur global warming, and boosting energy security by reducing reliance on costly fuel imports. While only a hatful of nations boast significant oil and gas reserves, nearly all have the potential to develop clean energy themselves, whether via solar, wind, tidal, geothermal or hydroelectric plants, mitigating geopolitical tensions by making the world less dependent on restive regions like the Middle East.

Edited June 19, 2023 by Eyes Wide Open

[turbguy + 1,405]

47 minutes ago, Eyes Wide Open said:

Time to open your Eyes...a monumental effort is being played out by US corporate leaders.

Could you please expand on some details of what "monumental efforts" are being "played out"?

US corporate leaders are always playing out something.

Ford in the 1930's in Germany?

[Eyes Wide Open + 3,542]

3 hours ago, turbguy said:

Could you please expand on some details of what "monumental efforts" are being "played out"?

Ahh it seems you might be missing something here. Ok let us try it this way..perhaps you do a quick Google search. Make a list of the just who is there...At that point if the lights do not illuminate a "thought"  you might very well be suffering a green energy blackout...or the air is quite thin up there today.

Now the serious question would how does one fit so many egos into one visit..That is a extraordinary accomplishment!

[Ecocharger + 1,380]

10 hours ago, Rob Plant said:

Oh look

This is where China's powergen comes from and where its going

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/020123-china-to-maintain-renewables-growth-pace-in-2023-despite-uncertainty

From 2025 onwards a definite decline in coal usage.

New build powergen will be almost exclusively renewables.

2025 is well in the future and the current pace of coal development in China indicates that coal will continue to grow going forward.

Check the neutrality of your source here.

[Ecocharger + 1,380]

6 hours ago, turbguy said:

Watch what happens.

Even in China, for every watt-hour supplied by wind and solar, there is one less watt-hour supplied by fossil fuels of all types.

False. Both are growing simultaneously.

[Ecocharger + 1,380]

5 hours ago, Rob Plant said:

Thought we were discussing power generation in China not their "ghost cities"??

Not much power of any sort needed for them.

Coal demand is currently increasing in China, check the charts I gave you on the previous page.

[Ecocharger + 1,380]

5 hours ago, Eyes Wide Open said:

Indeed let's take a dive into that. Lmao the game is almost over. Actually we are on the very brink of war. 

https://www.forbes.com/sites/thebakersinstitute/2023/05/17/how-long-will-it-take-for-chinas-nuclear-power-to-replace-coal/?sh=34c5192f3b1b

How Long Will It Take For China’s Nuclear Power To Replace Coal?

Great article. Coal is certainly the King of China.

Here is a quote from above,

"...the contribution from China’s nuclear to the current electricity fuel mix remains minimal. As of November 2022, China held a total of 2,510 GW of installed capacity, 44% of which is coal, 16.3% hydro, 14.7% solar, 13.9% wind, 4.5% natural gas, and 18.4% other fuels. Nuclear only accounted for 2.2% of the total domestic capacity, the least of all sources. Regarding actual power generation, fossil-fuel-fired fleets (coal, natural gas, and petroleum) supplied almost 70% of the country’s electricity in 2022, whereas nuclear delivered only 5%."

Edited June 19, 2023 by Ecocharger

[Jay McKinsey + 1,489]

..

China to account for more than half renewable capacity rise, report says

The International Energy Agency projects global renewable power will rise by a third this year.

By Subel Rai Bhandari for RFA
2023.06.01
Bangkok

 

 

Beachgoers walk near wind turbines along the coast of Pingtan in Southern China's Fujian province, Aug. 6, 2022.

 AP

The speedy deployment of renewable power worldwide is set to lead the largest annual increase in new renewable capacity ever, a report released on Thursday said.

 

Renewable power capacity is expected to increase by a third this year and will continue to rise next year, primarily due to a stronger push by governments amid higher fossil fuel prices and energy security concerns, the International Energy Agency (IEA) said in its latest Renewable Energy Market update.

 

The Paris-based group said there would be a significant surge in the global addition of renewable capacity, with a record-breaking increase of 107 gigawatts (GW) expected in 2023, resulting in total renewable capacity of over 440 GW worldwide.

 

That is 24% more than projected six months earlier and double what the world added in 2019.

 

Furthermore, projections indicate that total global renewable electricity capacity will reach 4,500 GW, equivalent to the combined power output of China and the United States, by the following year.

 

China is expected to account for nearly 55% of global additions of renewable power capacity in both 2023 and 2024, consolidating “its position as the undisputed leader in global deployment,” the IEA said.

 

In 2022, China accounted for less than half of all new renewable power capacity worldwide. 

 

By 2024, the report projected that China will deliver almost 70% of all new offshore wind projects globally, as well as over 60% of onshore wind and 50% of solar photovoltaic (PV) projects. 

Edited June 19, 2023 by Jay McKinsey

[footeab@yahoo.com + 2,135]

On 6/18/2023 at 10:49 AM, turbguy said:

Here's some evidence shown below. 

Do you think coal plants get "turned on and off", or are they load-cycled to match the demand unmet by other sources?

Typically, thermal efficiency suffers if a fossil generating plant isn't operating "pedal to the metal".

It's hard to compete in a market if you have to buy and transport fuel, collect and dispose of operational wastes, move and use prodigious amount of water, when your competitors have figured out a way around all of that expense.  And those competitors use less heads per MWh to boot!

Yes, coal (and all other sources) are load-cycled.  The only source that "flat lines" is nuc.

 

😀  Gotcha, you are so conceited you actually copied the graph and played make believe you were answering it 🍭... but that is not the question/statement I answered or put forward now is it?

[footeab@yahoo.com + 2,135]

8 hours ago, turbguy said:

Watch what happens.

Even in China, for every watt-hour supplied by wind and solar, there is one less watt-hour supplied by fossil fuels of all types.

Well no, as Coal plants do not turn off.  ROI of said coal plant takes a hit when you arrogance demands that Coal plants get paid last and solar/wind first.  Solar/Wind would have to have Power storage and grid inertia capabilities they do not have to be able to sell to the grid, otherwise they would never be able to sell at all.  Only happens via government fiat that screws Coal/NG/Nuclear. 

Then the elephant in the room, just because a Watt is produced does not mean it is used or connected to the grid.  Graphs look pretty, but instead look up wasted watts instead by energy producer type.

Edited June 19, 2023 by footeab@yahoo.com
first to last

[footeab@yahoo.com + 2,135]

PS: IF our leaders in charge had a brain in their head, they would demand Aluminum smelters be built everywhere to stabilize the grid taking on the job of absorbing the ramp rate as their ramp rate is instantaneous and they can also be an excess load dump for all sources instantly. 

If solar wind truly were real sources of power they would have aluminum smelter plants being built right next to them just as they are built right next to hydro dams.  Guess what is NOT happening around the world...

[turbguy + 1,405]

26 minutes ago, footeab@yahoo.com said:

Well no, as Coal plants do not turn off.  ROI of said coal plant takes a hit when you arrogance demands that Coal plant get paid first, Solar/Wind would have to have Power storage and grid inertia capabilities they do not have to be able to sell to the grid, otherwise they would never be able to sell at all.  Only happens via government fiat that screws Coal/NG/Nuclear. 

Then the elephant in the room, just because a Watt is produced does not mean it is used or connected to the grid.  Graphs look pretty, but instead look up wasted watts instead by energy producer type.

Please use the correct units.

Every watt-hour generated by wind and solar is used, with almost zero watt-hours rejected as waste heat.

Every watt-hour generated by fossil (and nuclear) energy rejects about 2 watt-hours as waste heat.

Transportation uses of fossil fuels is even WORSE, rejecting about 3 watt-hours of waste heat.

Grid-forming inverters provide inertia, as do DFIG wind turbines.

Thermodynamics still applies to fossil-fueled heat engines.

"You can't even leave the game".

Edited June 19, 2023 by turbguy

[Boat + 1,315]

14 hours ago, Ecocharger said:

Again you are dodging the point, which is that Chinese demand for coal has increased, contrary to the off-topic irrelevancies you are emitting. That is intellectual pollution.

You should talk in numbers. Show us Chinese coal in a 10 year context. I look at world numbers and coal is down. Personally I look at US numbers, Texas numbers and world numbers. That’s where I live. But numbers are interesting from all over the world. I don’t have the time to chase them. Show me the charts. You have fibbed in the past so you need to work on your credibility. Or you can run for President. Trumps a liar and popular. Have you considered politics? 

[turbguy + 1,405]

36 minutes ago, footeab@yahoo.com said:

😀  Gotcha, you are so conceited you actually copied the graph and played make believe you were answering it 🍭... but that is not the question/statement I answered or put forward now is it?

Ahhhh....

Huh?

[Boat + 1,315]

China’s coal consumption increased by 4.3% in 2022, according to a National Statistics Bureau (NSB) communiquéreleased on 28 February. 

However, according to analysis by Lauri Myllyvirta in Carbon Brief, the true year-on-year rise may be closer to zero.

The communiqué shows that output in the (coal-intensive) steel and cement industries fell 2% and 11% respectively, and other official data states that coal-fired electricity generation only rose 0.9%.
 

So what does your report say. Did it look at cement and steel. Chinas overall growth may be close to zero gdp for first time in decades. Their management team seems to piss off all its neighbors. The great decoupling is accelerating?