GREEN NEW DEAL = BLIZZARD OF LIES

[Jay McKinsey + 1,489]

1 hour ago, Ecocharger said:

The world oil market is not controlled by one player, you are really confused about that. Other producers are responding to powerful demand for oil and production has increased.

You skipped Industrial Organization courses?

My entire answer to you was that it is not controlled by one player. There are many players and they are filling the vacuum.

If demand were increasing then why are the Saudi's cutting production?

Edited October 30, 2023 by Jay McKinsey

[Ecocharger + 1,384]

EVs are having a rough ride now with the economic realities biting down on frustrated climate agitators.

The realities are that EVs do nothing to reduce CO2 emissions and are so costly that few will be able to afford them...the result will be voter revolt against the deceiving politicians who launched this miserable disaster.

https://oilprice.com/Energy/Energy-General/The-Political-And-Economic-Implications-Of-The-EV-Transition.html

"The so-called superchargers offer, instead of overnight fueling, 80% charge in 30 to 40 minutes. This is only fast if it’s not compared to the 3 to 4 minutes it takes to fill up a gasoline tank. Long refueling times will translate into long lines at EV fueling stations as well as the need for five to 10 times more charging ports than fuel pumps.

That won’t be convenient, simple, or cheap. Each supercharger costs two to three times more than a gasoline pump. And, because superchargers necessarily operate at 100 times the power level of an overnight home-charger, that translates into staggering requirements for grid infrastructure upgrades. Today roadside fuel stations have the electric demand of a 7-Eleven; but convert those to EV fueling station and every one of them will have the electric demand of a steel mill – and highways will need thousands of them."

Edited October 30, 2023 by Ecocharger

[Ecocharger + 1,384]

37 minutes ago, Jay McKinsey said:

My entire answer to you was that it is not controlled by one player. There are many players and they are filling the vacuum.

If demand were increasing then why are the Saudi's cutting production?

Demand is obviously increasing, just look at the market...inventories below average..

And production is increasing. And prices solid.

With the failure of EVs, demand for good old gasoline is ramping up.

 

Edited October 30, 2023 by Ecocharger

[TailingsPond + 505]

37 minutes ago, Ecocharger said:

Demand is obviously increasing, just look at the market...inventories below average..

And production is increasing. And prices solid.

With the failure of EVs, demand for good old gasoline is ramping up.

You constantly say that EV's make up a trivial portion of active vehicles.  How do non-existent EV's change oil demand?

Prices are "solid" due to OPEC+ control. Do you still think we will hit $100 by year end?  Yes, you wrote that.  Currently $82.31 and falling.

 

Edited October 30, 2023 by TailingsPond

[Ecocharger + 1,384]

34 minutes ago, TailingsPond said:

You constantly say that EV's make up a trivial portion of active vehicles.  How do non-existent EV's change oil demand?

Prices are "solid" due to OPEC+ control. Do you still think we will hit $100 by year end?  Yes, you wrote that.  Currently $82.31 and falling.

 

You mean that I quoted someone who said that? Check what I quoted above.

World Bank sees oil demand strong going forward and probably higher oil prices.

https://oilprice.com/Energy/Energy-General/World-Bank-Major-Escalation-In-Israel-Hamas-War-Could-Send-Oil-Soaring-To-157.html

"The World Bank sees oil prices averaging $81 per barrel in 2024 if there isn’t a major disruption due to the Israel-Hamas war.

If the Israel-Hamas war were to escalate into a major regional conflict, the World Bank believes prices could climb as high as $157.

The World Bank’s other scenarios in which the escalation in the region isn’t as drastic have oil trading anywhere from $93 to $121."

[Jay McKinsey + 1,489]

3 hours ago, Ecocharger said:

Demand is obviously increasing, just look at the market...inventories below average..

And production is increasing. And prices solid.

With the failure of EVs, demand for good old gasoline is ramping up.

 

If demand were increasing then why are the Saudi's cutting production?

[TailingsPond + 505]

3 hours ago, Ecocharger said:

You mean that I quoted someone who said that? Check what I quoted above. []

If the Israel-Hamas war were to escalate into a major regional conflict, the World Bank believes prices could climb as high as $157.

 

No you used your own words.  You did not predict this war either. 

Do you support the Israel-Hamas war just because it will bloat oil prices?

 

Edited October 31, 2023 by TailingsPond

[Eyes Wide Open + 3,550]

17 hours ago, TailingsPond said:

Do you support the Israel-Hamas war just because it will bloat oil prices?

You are perhaps one of the most vile personalities I've have yet encountered.   Darkness truly resides within you.

Edited October 31, 2023 by Eyes Wide Open

[Rob Plant + 2,656]

1 hour ago, Eyes Wide Open said:

You are perhaps one of the vile personalities I've have yet encountered.   Darkness truly resides within you.

TailngsPond never said he supported the war, he was in fact asking ECO if he did, as it artificially raises oil prices and therefore supports his comments. He never said Eco did support the war.

Lets be honest here nobody in their right minds wants an Israel/Hamas war.

[Old-Ruffneck + 1,178]

10 hours ago, Jay McKinsey said:

If demand were increasing then why are the Saudi's cutting production?

Demand IS increasing........do your own investigating, Saudi cuts are to "prop up prices" as with all of OPEC. Oil as of this morning is UP, Demand has been on the rise for last few years, Covid slowed it temporarily but 100mmb/day now around 102mmb/day. And still increasing. 

[Jay McKinsey + 1,489]

8 hours ago, Old-Ruffneck said:

Demand IS increasing........do your own investigating, Saudi cuts are to "prop up prices" as with all of OPEC. Oil as of this morning is UP, Demand has been on the rise for last few years, Covid slowed it temporarily but 100mmb/day now around 102mmb/day. And still increasing. 

If demand is increasing then you don't need to cut production to prop up prices.

[Ecocharger + 1,384]

20 hours ago, Jay McKinsey said:

If demand were increasing then why are the Saudi's cutting production?

I have shocking news for you...the world markets for oil consist of more than Saudi production, and demand for oil is a world market.

[Ecocharger + 1,384]

World needs for oil will continue to be robust as oil and other fossil fuels contiinue to be the most essential energy source.

https://oilprice.com/Energy/Energy-General/How-Todays-Energy-Bottlenecks-Could-Bring-Down-Major-Governments.html

"Energy scarcities, especially in diesel and jet fuel, threaten food production, transport, and economic stability.

While green energy offers partial solutions, it cannot wholly replace the critical roles of fossil fuels.

Historical energy bottlenecks have led to civilizational collapses; our increasing system complexity may exacerbate vulnerabilities."

Edited October 31, 2023 by Ecocharger

[TailingsPond + 505]

10 hours ago, Old-Ruffneck said:

 Oil as of this morning is UP

$81.02

Down another buck+.

Oil dips as global supply concerns ease (msn.com)

"We've taken some of the war premium out of the prices," said Phil Flynn, analyst at Price Futures Group."

 

Edited October 31, 2023 by TailingsPond

[Jay McKinsey + 1,489]

38 minutes ago, Ecocharger said:

I have shocking news for you...the world markets for oil consist of more than Saudi production, and demand for oil is a world market.

In fact the oil cuts are for OPEC+ not just Saudi. So that is most of the world's oil production.

OPEC and OPEC+ countries combined produced about 59% of global oil production, 48 million b/d in 2022, and so influence global oil market balances and oil prices now more than ever.

If demand were truly increasing then OPEC+ would not need to cut production to increase prices.

[Old-Ruffneck + 1,178]

1 hour ago, Jay McKinsey said:

In fact the oil cuts are for OPEC+ not just Saudi. So that is most of the world's oil production.

OPEC and OPEC+ countries combined produced about 59% of global oil production, 48 million b/d in 2022, and so influence global oil market balances and oil prices now more than ever.

If demand were truly increasing then OPEC+ would not need to cut production to increase prices.

Is world oil production increasing?

 

 

World oil output rose 270 kb/d in September to 101.6 mb/d, led by higher production from Nigeria and Kazakhstan. The Israel-Hamas conflict has not had any direct impact on oil flows. Driven by non-OPEC+ growth, global output will increase by 1.5 mb/d and 1.7 mb/d in 2023 and 2024, respectively, to new record highs.Oct 10, 2023

 

Oil Market Report - October 2023 – Analysis - IEA

iea.org

https://www.iea.org › reports › oil-market-report-october.

 

I believe the above statement is fairly correct........"to new rocord highs".

Quit being an ass Jay. You know/knew production has baen on the rise, your haven't been hiding under a rock.!!!!

Edited October 31, 2023 by Old-Ruffneck
add

[TailingsPond + 505]

14 minutes ago, Old-Ruffneck said:

Is world oil production increasing?

 

World oil output rose 270 kb/d in September to 101.6 mb/d, led by higher production from Nigeria and Kazakhstan. The Israel-Hamas conflict has not had any direct impact on oil flows. Driven by non-OPEC+ growth, global output will increase by 1.5 mb/d and 1.7 mb/d in 2023 and 2024, respectively, to new record highs.Oct 10, 2023

 

Oil Market Report - October 2023 – Analysis - IEA

iea.org

https://www.iea.org › reports › oil-market-report-october.

 

I believe the above statement is fairly correct........"to new rocord highs".

Quit being an ass Jay. You know/knew production has baen on the rise, your haven't been hiding under a rock.!!!!

From the same link you posted:

"Evidence of demand destruction is appearing with preliminary September data showing that US gasoline consumption fell to two-decade lows."

Death of gasoline = death of oil.

[Old-Ruffneck + 1,178]

1 hour ago, TailingsPond said:

$81.02

Down another buck+.

Oil dips as global supply concerns ease (msn.com)

"We've taken some of the war premium out of the prices," said Phil Flynn, analyst at Price Futures Group."

 

Yes, did drop some today, good for the consumer (me) as i burn alot of diesel. But in week or two, will rise.......just a guess!!

[Old-Ruffneck + 1,178]

3 minutes ago, TailingsPond said:

Death of gasoline = death of oil.

Uhhhhhhh  with gas well over 3.25 a gallon it's bound to slow down. Spare income is drying up and credit cards maxed.......no brainer. Your chant on death to oil......in about 30 years production will decrease as "green energy" will rise. 

[Ron Wagner + 649]

https://justthenews.com/politics-policy/energy/wind-companies-losing-billions-experts-say-federal-bailout-could-be-coming

 

Wind companies losing billions, prompting fears a federal bailout could be coming

Solyndra Redux? If the federal government’s history of throwing money at failing green companies is any indication, more taxpayer support to offshore developers is not implausible.

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By Kevin Killough

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Published: October 28, 2023 11:45pm

• Article
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Mounting financial losses in the wind industry over the last few months are taking a toll on the Biden administration’s clean energy drive. Despite the billions in subsidies that came down the pipeline in 2022 before the Inflation Reduction gave away even more money, energy experts don’t expect that the need for more money will deter the nationwide momentum to build more wind and solar farms.

Writing in his “Energy Absurdity” Substack, David Blackmon, an energy analyst with over 40 years of experience in the oil and gas industry, said that the lobbying for more renewable energy dollars is likely near.

“Everyone should prepare themselves to see an effort in Washington, DC to allocate billions more dollars to bail out Big Offshore Wind developers soon,” Blackmon wrote.

Since the Obama administration, the federal government has been pouring billions into projects to meet environmental goals, only to have the companies go bankrupt.
In 2009, the Obama administration co-signed $535 million in loans to solar panel manufacturing startup Solyndra. Two years later, the company went bankrupt, laying off 1,100 workers.

Another solar manufacturing startup, Abound Solar, received $400 million in federal government-backed loans to expand its Colorado and Indiana facilities. The company received further support from the U.S. Export-Import Bank, as well as property tax rebates in Colorado and Indiana.

In June 2012, the company filed for bankruptcy and left 405 people unemployed. It also left Colorado to spend millions to clean up hazardous waste it left behind.

Fisker Automotive received a $529 million green-energy loan from the Department of Energy for its luxury hybrid vehicles. The company spent $192 million of the loan before it was suspended in 2011 after the company failed to meet several sales milestones. Fisker filed for bankruptcy in 2013.

Today, the Biden administration is sending taxpayer dollars to offshore wind projects, and despite all the support, the developers and manufacturers are struggling to stay afloat.

Bloomberg reported in August that, during a conference call with analysts, General Electric’s CEO said that the company’s offshore wind operations expects to post annual losses this year of about $1 billion. German turbine manufacturer Siemens Energy is expecting a $5 billion net loss this year, also according to Bloomberg. The company is now in talks with the German government for nearly $16 billion USD in guarantees.

Chinese wind turbine maker, Xinjiang Goldwind Science & Technology Co. reported a net income of $1.28 million in the third quarter, which was down 98% compared to the same period in 2022.

A September Wall Street Journal editorial argued that, while green energy developers blame Russia’s invasion of Ukraine for causing the inflation that plagues the industry by driving up demand for renewable energy, the government mandates and subsidies, which they lobbied for, is a big driver of the demand.

The companies also blame rising interest rates, but quoting a report from the New York State Energy Research and Development Authority, the Wall Street Journal notes, “it does not appear reasonable for developers to have assumed that a low interest rate environment would persist throughout the period in which their projects were to be financed, given that the levels of interest rates witnessed today” have precedent.

New York regulators earlier this month denied a request from offshore wind developer Orstead to alter its long term contracts and raise purchase prices to a level that would have let them collect an additional $38 billion from ratepayers.

 

Then last week, New York Gov. Kathy Hochul announced that the state awarded contracts to three offshore wind companies, which includes $300 million to develop wind turbine and blade manufacturing facilities. Hochul is among six Democratic governors who urged President Joe Biden to provide even more subsidies to troubled offshore wind projects.

Blackmon noted in his Substack article that congressional Republicans are not likely to support a large bailout for the wind industry in a standalone bill. He predicts that Democrats will try to sneak such funding into any debt-ceiling compromise legislation in November.
“A federal bailout effort is coming. You can almost smell it in the wind,” Blackmon said.

[TailingsPond + 505]

13 minutes ago, Old-Ruffneck said:

Uhhhhhhh  with gas well over 3.25 a gallon it's bound to slow down. Spare income is drying up and credit cards maxed.......no brainer. Your chant on death to oil......in about 30 years production will decrease as "green energy" will rise. 

High gas prices will make EV's more desirable, but you are correct most everyone's budget is pretty tight right now. The holiday retail sales numbers will be telling on how broke people really are.

Oil producers need high oil to get decent profits and fund exploration, but high fuel prices increase green energy desirability.  They are playing a delicate balancing game.

 

[Ecocharger + 1,384]

4 hours ago, TailingsPond said:

$81.02

Down another buck+.

Oil dips as global supply concerns ease (msn.com)

"We've taken some of the war premium out of the prices," said Phil Flynn, analyst at Price Futures Group."

 

That can change in a hurry. High interest rates are impacting oil demand, but world politics remains turbulent.

[Ecocharger + 1,384]

4 hours ago, Jay McKinsey said:

In fact the oil cuts are for OPEC+ not just Saudi. So that is most of the world's oil production.

OPEC and OPEC+ countries combined produced about 59% of global oil production, 48 million b/d in 2022, and so influence global oil market balances and oil prices now more than ever.

If demand were truly increasing then OPEC+ would not need to cut production to increase prices.

If demand were truly increasing, oil production would be increasing, which is what is happening. Talk of "cuts" is consistent with increased production.

[Ecocharger + 1,384]

2 hours ago, TailingsPond said:

High gas prices will make EV's more desirable, but you are correct most everyone's budget is pretty tight right now. The holiday retail sales numbers will be telling on how broke people really are.

Oil producers need high oil to get decent profits and fund exploration, but high fuel prices increase green energy desirability.  They are playing a delicate balancing game.

 

Not really, EV sales have stalled or even decreased, as in the UK. The entire economy may stall due to high interest rates.

[Jay McKinsey + 1,489]

24 minutes ago, Ecocharger said:

If demand were truly increasing, oil production would be increasing, which is what is happening. Talk of "cuts" is consistent with increased production.

Only you could say up and down are the same thing.