GREEN NEW DEAL = BLIZZARD OF LIES

[Jay McKinsey + 1,490]

2 minutes ago, Ecocharger said:

Here is the story in diesel markets, which are now relatively tight in spite of the markets downturn.

"...over the last 4-6 weeks, diesel and gas oil cracks have stabilised and recovered slightly, as inventories have remained lower than expected a few months ago:

• In Europe, distillate inventories had increased by +32 million barrels at the end of May 2023 compared with their low point at the end of June 2022, but were still -32 million barrels (-8% or -1.00 standard deviations) below the prior 10-year seasonal average.
• In Singapore, inventories had increased by +2 million barrels by early June 2023 compared with June 2022 but were still -2.5 million barrels (-23% or -1.16 standard deviations) below the 10-year average.
• In the United States, stocks had risen by +5 million barrels since June 2022 but were still -22 million barrels (-16% or -1.18 standard deviations) below the 10-year seasonal average."

Yet the price is just average when adjusted for inflation. That is the much more important metric for supply and demand. 

Edited June 25, 2023 by Jay McKinsey

[Ecocharger + 1,474]

5 minutes ago, Jay McKinsey said:

Yet the price is just average when adjusted for inflation. That is the much more important metric for demand.

No, the relative downturn in world markets is not affecting the diesel market due to persistent demand in Europe.

• In Europe, distillate inventories had increased by +32 million barrels at the end of May 2023 compared with their low point at the end of June 2022, but were still -32 million barrels (-8% or -1.00 standard deviations) below the prior 10-year seasonal average.

As we saw earlier, 87% of new vehicles for personal use in Europe are fossil fuel vehicles, many of them diesel, and this is adding to diesel demand.

Inventories of diesel are now 8% below the ten year average. That is attracting new investment into distillates.

Edited June 25, 2023 by Ecocharger

[Jay McKinsey + 1,490]

4 minutes ago, Ecocharger said:

No, the relative downturn in world markets is not affecting the diesel market due to persistent demand in Europe.

• In Europe, distillate inventories had increased by +32 million barrels at the end of May 2023 compared with their low point at the end of June 2022, but were still -32 million barrels (-8% or -1.00 standard deviations) below the prior 10-year seasonal average.

So supply is less than the 10 year seasonal average, which should drive the price above average, but price adjusted for inflation is at the 10 year average. That tells us that true demand is less than the 10 year average.

Edited June 25, 2023 by Jay McKinsey

[Ecocharger + 1,474]

5 minutes ago, Jay McKinsey said:

So supply is less than the 10 year seasonal average but price adjusted for inflation is at the 10 year average. That tells us that true demand is less than the 10 year average.

Price is good considering the general economic climate. Inflation/deflation cycles in the oil/distillate markets fluctuate rapidly and are not of great significance.

Fossil fuels are a relative bargain compared to renewable forms of energy.

Prices will sustain due to the rapid buildup of fossil fuel vehicles in the European and North American rolling stock. 87% of new personal vehicles in Europe are fossil fuel.

Edited June 25, 2023 by Ecocharger

[Jay McKinsey + 1,490]

1 minute ago, Ecocharger said:

Price is good considering the general economic climate. Inflation/deflation cycles in the oil/distillate markets flucuate rapidly and are not of great significance.

Price is average as is the global economy.

[Ecocharger + 1,474]

3 minutes ago, Jay McKinsey said:

Price is average as is the global economy.

The world economy is teetering due to the war against inflation and Chinese weakness.

That is true for everything.

But the persistence of  fossil fuel vehicles in the sales mix argues for continued strength in oil/distillate markets long term. Thus the increased investment recently into distillates.

Edited June 25, 2023 by Ecocharger

[Jay McKinsey + 1,490]

3 minutes ago, Ecocharger said:

The world economy is teetering due to the war against inflation and Chinese weakness.

That is true for everything.

But the persistence of  fossil fuel vehicles in the sales mix argues for continued strength in oil/distillate markets long term. Thus the increased investment recently into distillates.

Just moving deck chairs on the Titanic. It is a refining shortage, not higher demand:

LONDON, June 19 (Reuters) - Portfolio investors are rotating positions from crude oil to middle distillates – anticipating that the low level of distillate inventories will keep prices relatively firm even if the global economy and petroleum consumption slow.

[notsonice + 1,255]

12 minutes ago, Ecocharger said:

The world economy is teetering due to the war against inflation and Chinese weakness.

That is true for everything.

But the persistence of  fossil fuel vehicles in the sales mix argues for continued strength in oil/distillate markets long term. Thus the increased investment recently into distillates.

Pirce of Brent today.....$73 and change and slowly heading to $70.......

Saudis cutting production (Again)

SPR releases have ended

 

EV's sales are picking up speed......ending the chance of any  long term gain for an increase in oil consumption

But the persistence of  fossil fuel vehicles...reality   fossil fuel vehicles sales are on the decrease

Demand is in the dumpster and will be forever unless you can stop EVs from taking over (ha ha ha)

Bears have the upper hand...Why???? China China China....Evs Evs Evs)

continued strength????? if this was true Oil would be at over $100

instead adjusted for inflation, Oil is worth 15 percent less today than in 2018

 

 

 

 

 

The Bears Still Rule Oil Markets

By Alex Kimani - Jun 24, 2023, 6:00 PM CDT

• China’s industrial recovery has not been up to par and has fared worse than consumer-facing sectors.

Edited June 25, 2023 by notsonice

[Boat + 1,324]

18 hours ago, Ecocharger said:

That was caused by the failure of Green energy. A real knock against the Green dream nonsense.

I guess you missed that debate, but Texas is still in trouble due to Green dependence.

Texans are in trouble because of simple mismanagement. Let’s call it the Republican effect. Only a Republican would rely on renewables for winter power when there is less sun because of shorter days. That and electricity demand is higher in the winter. Republicans don’t know that because facts are not required in decision making. 

[turbguy + 1,544]

8 hours ago, Eyes Wide Open said:

Now might you explain how a wind turbine prop can spin with a imbalanced load?

An "imbalanced load" on synchronous 3-phase AC generating equipment is called negative phase sequence current condition, where the current from each phase is not sufficiently equal.  An excessive load imbalance condition will "french fry" the generator, but it will still spin. Very few wind turbines are synchronous machines, so that does not apply to them.

If you meant a mechanical imbalance within the rotating system, where the mass center of gravity is not coincident with the design center of rotation, again it is subject to the amount of imbalance.  Excessive imbalance loads will damage the mechanical system if permitted to continue spinning.

So, they can still spin.

Just not a wise idea to permit it to do so.

[Ecocharger + 1,474]

7 hours ago, Boat said:

Texans are in trouble because of simple mismanagement. Let’s call it the Republican effect. Only a Republican would rely on renewables for winter power when there is less sun because of shorter days. That and electricity demand is higher in the winter. Republicans don’t know that because facts are not required in decision making. 

Texans are in trouble due to over-reliance on wind and solar.

We saw that last week and expect more of the same going forward.

Edited June 25, 2023 by Ecocharger

[Jay McKinsey + 1,490]

1 hour ago, Ecocharger said:

Texans are in trouble due to over-reliance on wind and solar.

We saw that last week and expect more of the same going forward.

In trouble because they shut down Bitcoin mining for a few hours....😀😃😄😆😅😂🤣

[Ecocharger + 1,474]

9 hours ago, Jay McKinsey said:

In trouble because they shut down Bitcoin mining for a few hours....😀😃😄😆😅😂🤣

Bitcoin  is big mining...if you have to shut down a major operating business, that is trouble.

[Jay McKinsey + 1,490]

1 minute ago, Ecocharger said:

Bitcoin  is big mining...if you have to shut down a major operating business, that is trouble.

No it isn't. The entire model for the electrical grid from the beginning was that high demand electrical industries would take advantage of low electricity costs but shut down when the electricity was needed for the general populace. It has been like that since long before you were born.

 

[Ecocharger + 1,474]

2 minutes ago, Jay McKinsey said:

No it isn't. The entire model for the electrical grid from the beginning was that high demand electrical industries would take advantage of low electricity costs but shut down when the electricity was needed for the general populace. It has been like that since long before you were born.

 

Overstressed electrical supply with no excuse....failure in spades.

[Jay McKinsey + 1,490]

Just now, Ecocharger said:

Overstressed electrical supply with no excuse....failure in spades.

No again, the electric supply and demand is a managed construct. It has been so since before you were born. How about you actually learn how the electricity market works?

[Ecocharger + 1,474]

1 minute ago, Jay McKinsey said:

No again, the electric supply and demand is a managed construct. It has been so since before you were born. How about you actually learn how the electricity market works?

This represents failure due to an overstressed electrical system...that is a failure in a big way, bad for the mining business. bad for anyone.

Just swallow hard and acknowledge the reality, Jay

[Jay McKinsey + 1,490]

10 minutes ago, Ecocharger said:

This represents failure due to an overstressed electrical system...that is a failure in a big way, bad for the mining business. bad for anyone.

Just swallow hard and acknowledge the reality, Jay

So how it worked when you were born, and continuing today, is that as power plants need to run at max for max efficiency they would contract with big electric demand companies to come online at 11:31 as the vast majority of people went to bed and they ran until 6 am when they got up. 

PS. The only people who care about Bitcoin are idiots and criminals.

Edited June 26, 2023 by Jay McKinsey

[Ecocharger + 1,474]

5 minutes ago, Jay McKinsey said:

So how it worked when you were born, and continuing today, is that as power plants need to run at max for max efficiency they would contract with big electric demand companies to come online at 11:31 as the vast majority of people went to bed and they ran until 6 am when they got up. 

If mining firms have to shut down when they want to run, that is trouble...and failure.

If you are saying that this is what you can expect from the electrical energy business, then that is not satisfactory.

Edited June 26, 2023 by Ecocharger

[Jay McKinsey + 1,490]

5 minutes ago, Ecocharger said:

If mining firms have to shut down when they want to run, that is trouble...and failure.

Why? They want the lowest electricity costs and that is all. They aren't willing to pay for the price of producing electricity just for them. They want the marginal difference between normal demand and low demand. 

We could shut down all of Bitcoin in the US and everyone would be better off. Well except for the idiots and criminals who are in Bitcoin.

Edited June 26, 2023 by Jay McKinsey

[Ecocharger + 1,474]

1 minute ago, Jay McKinsey said:

Why? They want the lowest electricity costs and that is all. They aren't willing to pay for the price of producing electricity just for them. They want the marginal difference between normal demand and low demand. 

You have just highlighted the problem with electricity energy, it is not available when needed.

It has failed the mining industry.

[Jay McKinsey + 1,490]

o

Just now, Ecocharger said:

You have just highlighted the problem with electricity energy, it is not available when needed.

It has failed the mining industry.

Well it has been like that before you were born and the crypto mining industry is a plague on society. 

[Ecocharger + 1,474]

4 minutes ago, Jay McKinsey said:

o

Well it has been like that before you were born and the crypto mining industry is a plague on society. 

You are just plain out of excuses, Jay.

Sure, electrical energy has been plagued with problems from its inception, but now those problems are being upgraded into damage to the economy due to over-reliance on wind and solar electricity.

If you want to rail against an industry which is a plague, try ranting against weed or cigarettes. I could even give you some support for those efforts.

Edited June 26, 2023 by Ecocharger

[Jay McKinsey + 1,490]

19 minutes ago, Ecocharger said:

You are just plain out of excuses, Jay.

Sure, electrical energy has been plagued with problems from its inception, but now those problems are being upgraded into damage to the economy due to over-reliance on wind and solar electricity.

If you want to rail against an industry which is a plague, try ranting against weed or cigarettes. I could even give you some support for those efforts.

The crypto industry does not want to pay for dedicated domestic electricity to run 24 hours a day. If they did then it would be built. You sound like a communist demanding that the electric industry provide for them. 

[Rob Plant + 2,756]

On 6/23/2023 at 11:16 PM, Ecocharger said:

Pollution? Like what?

Like these

https://www.gem.wiki/Air_pollution_from_coal-fired_power_plants

https://www.ucsusa.org/resources/coal-power-impacts

Check out the impacts of water pollution from coal ash in the second link.

Coal is never ever going to be anything other than pollutive, regardless of new "clean coal".