GREEN NEW DEAL = BLIZZARD OF LIES

[Ecocharger + 1,474]

33 minutes ago, notsonice said:

the inevitable price adjustment will occur.????

which is happening right now.....

price is crashing as demand goes soft

brought to you by the green agenda in your beloved China

PS and you are the one who claimed within the past month that Oil demand is hot and getting hotter.......

and yet sales are heading south...Enjoy Reality brought to you by EV sales in China

According to OilPrice.com, China's domestic EV manufacturers have been aggressively lowering prices, which has led to a surge in EV sales in the country. In the second quarter of 2024, EVs reached a record market share of 46.6% in China, with a 64% increase in plug-in EVs and a 16% increase in battery EVs. In contrast, traditional internal combustion-engine vehicles (ICEVs) saw a 23% decline, even with record-high dealer discounts. 

 

 

96% of Chinese cars are fossil fuel and over 99% of the China transportation sector is fossil fuel...sorry buddy,

[Rob Plant + 2,756]

On 7/28/2024 at 11:08 AM, Ecocharger said:

You really do have a hard time with numbers, I guess those math courses you skipped are hurting your capabilities on this.

I gave you this data already but it slipped through your mental receptors like water through a sieve.

https://oilprice.com/Latest-Energy-News/World-News/Chinas-Coal-Production-Hits-Six-Month-High.html

"Chinese coal production stood at 405.38 million metric tons in June, the highest volume since December 2023 and a 3.6% rise compared to June last year, according to data from China’s National Bureau of Statistics (NBS) reported by Reuters on Monday.  

Earlier this year, Chinese coal output was weaker, due to numerous safety inspections at mines following deadly incidents, and lowered production in the province of Shanxi, China’s top coal-producing area, which accounts for nearly 30% of domestic output. "

https://www.reuters.com/world/china/chinas-june-coal-output-hits-six-month-high-safety-inspections-ease-2024-07-15/

"The six-month high was calculated by averaging out January-February production, since NBS reports the two months in a combined data release to smooth out the effects of the lunar new year holiday which falls in either month.

Analysts at Galaxy Futures attributed the higher output in June to seasonal effects from the Northern Hemisphere summer increasing demand for air conditioning as temperatures rise. They also cited an improvement in the rate of deadly mining accidents allowing some mines to restart operations."

"Average daily output in June rose to 13.5 million tons, according to Reuters' calculations using the NBS data, also the highest since December."

Eco you continually mix up consumption and production numbers which must be why youre so confused. It all comes back to your lack of comprehension of the English language in my opinion.

If you have a dictionary then check out the meanings of those 2 words and then you might be able to understand what Notsonice is talking about!

[Boat + 1,324]

Just for fun. I am amazed how the narritave went from the Permain had used up its best well areas and decline in production was inevitable. Turns out fewer wells producing every year leads to more production. Another tech revolution that almost matches the phone and tv. lol

[Boat + 1,324]

The Permian rig count has declined nearly 15% from last year’s April high to 309 currently, and is 30% lower than its 2018-2019 average, Goldman Sachs has revealed. GS has predicted that Permian rig count will be below 300 by the end of 2024.

However, Goldman says that output per rig will keep growing, “as industry consolidation increases the share of more productive rigs, and as technologies improve”. 

“This year, every stage of a well’s building cycle in the Permian was 20-50 percent faster than in 2019, with the total average time from rig to production decreasing by a third to 63 days. This acceleration will boost the share of new and productive wells amid the stock of declining wells,” according to Yulia Grigsby, an energy economist at Goldman Sachs, as reported by Reuters.

[TailingsPond + 1,008]

7 hours ago, Ecocharger said:

Prices can fluctuate wildly in the short term, but eventually the reality of the marketplace prevails and there is a sudden snapback in the price.

Any day now?  Put a date on it?

Really you don't have to wait for "the reality of the marketplace" the real marketplace is happening right now!  I think you are confused about how the value of things works.  There is very little intrinsic value in most commercial products.  You seem to think that there is a "right" price for things and that is not how the marketplace works.  Some products or services that are downright bad for you and society command high prices (drugs, alcohol, fast food, handguns, cigarettes, prostitution, coal, gambling, etc.).  People are stupid, follow the money.

Clean air, water, and food have real value. 

WTI down more to $74.80 in just a few hours...

Edited July 30 by TailingsPond

[TailingsPond + 1,008]

2 hours ago, Boat said:

Just for fun. I am amazed how the narritave went from the Permain had used up its best well areas and decline in production was inevitable. Turns out fewer wells producing every year leads to more production. Another tech revolution that almost matches the phone and tv. lol

I don't think it is so much of a technology revolution, it is just better management. 

They figured out that spending more time doing high-quality prospecting and drilling fewer wells is a better strategy than poking the earth goddamn everywhere and crossing their fingers. 

 

[Old-Ruffneck + 1,246]

5 hours ago, TailingsPond said:

Any day now?  Put a date on it?

Really you don't have to wait for "the reality of the marketplace" the real marketplace is happening right now!  I think you are confused about how the value of things works.  There is very little intrinsic value in most commercial products.  You seem to think that there is a "right" price for things and that is not how the marketplace works.  Some products or services that are downright bad for you and society command high prices (drugs, alcohol, fast food, handguns, cigarettes, prostitution, coal, gambling, etc.).  People are stupid, follow the money.

Clean air, water, and food have real value. 

WTI down more to $74.80 in just a few hours...

Eco said,

12 hours ago, Ecocharger said:

Prices can fluctuate wildly in the short term, but eventually the reality of the marketplace prevails and there is a sudden snapback in the price.

The word "eventually", why does he need a date? He didn't say "Any day now".

What is downright bad in owning a handgun? Fast food in moderation is okay. Alcohol? Lots of ppl can drink beers or shots and walk-away not touching another drop for weeks. Your post seems highly socialist. 

 

[Old-Ruffneck + 1,246]

5 hours ago, TailingsPond said:

I don't think it is so much of a technology revolution, it is just better management. 

They figured out that spending more time doing high-quality prospecting and drilling fewer wells is a better strategy than poking the earth goddamn everywhere and crossing their fingers. 

 

You have no f*cking idea how rigs work and might want to research. Technology is a big part of how rigs operate now. I haven't the time to type pages of the operations of setting rig in place to spudding in, drilling multiple holes from one rig on same location, to final completion. If your young enough, get a job as a floor-hand. 

[TailingsPond + 1,008]

14 minutes ago, Old-Ruffneck said:

Eco said,

Prices can fluctuate wildly in the short term, but eventually the reality of the marketplace prevails and there is a sudden snapback in the price.

The word "eventually", why does he need a date? He didn't say "Any day now".

What is downright bad in owning a handgun? Fast food in moderation is okay. Alcohol? Lots of ppl can drink beers or shots and walk-away not touching another drop for weeks. Your post seems highly socialist. 

 

The point was you don't have to wait for the market to reach "reality."  The market is very real right now.

I consume and do all sorts of things that are bad for me; the difference is I don't lie to myself and say it's good.

 

Edited July 30 by TailingsPond

[TailingsPond + 1,008]

12 minutes ago, Old-Ruffneck said:

You have no f*cking idea how rigs work and might want to research. Technology is a big part of how rigs operate now. I haven't the time to type pages of the operations of setting rig in place to spudding in, drilling multiple holes from one rig on same location, to final completion. If your young enough, get a job as a floor-hand. 

LOL what are you so busy doing old man?

Fact is fewer wells, high production is better management.  You didn't really provide any counter argument.

Directional drilling and fracking has been around a long time.  What tech is so new?

Edited July 30 by TailingsPond

[TailingsPond + 1,008]

14 minutes ago, Old-Ruffneck said:

The word "eventually", why does he need a date? He didn't say "Any day now".

 

Putting a date on a prediction is the only way it has value. 

I can predict with 100% certainty you will die some day.  Notice how that prediction is worthless?  If I could put an accurate date on it that would be very valuable. Even if you don't want to know your expiration date that information would be very valuable to your bank and insurance company.

[TailingsPond + 1,008]

26 minutes ago, Old-Ruffneck said:

What is downright bad in owning a handgun?

Statistically, you and your family members are much more likely to die if you own a handgun.

Most gun fatalities are suicides, followed by murder, then accidents.   A very tiny portion is self defence.

The owner may be mentally stable, trained, and responsible; but his son might go shoot up a school.

[Old-Ruffneck + 1,246]

10 minutes ago, TailingsPond said:

LOL what are you so busy doing old man?

Old? 65 not old, and I own a construction business, 35 years now. So yes, busy days, and into evenings alot. Such is life.

Directional drilling I think you meant. Yes, has been around a long time, but todays methods are not anything like late 70's through mid 80's when the market took a crap and I went to work for a construction company in Odessa, TX.  Now I am In Central Illinois. 

So 1 well producing 6-8 holes lazer guided can produce more than 1 hole straight down. I worked on a rig that we drilled 7days to 12960 feet and stopped. A finishing crew or now called Completion crew finishes the fracture and sets the well head. Google Andrews TX and you will see many hundreds or wells all lined up and the distance apart. I worked on about 75% of those wells. Every 8 days spudding in a new well.

[Ecocharger + 1,474]

28 minutes ago, TailingsPond said:

Putting a date on a prediction is the only way it has value. 

I can predict with 100% certainty you will die some day.  Notice how that prediction is worthless?  If I could put an accurate date on it that would be very valuable. Even if you don't want to know your expiration date that information would be very valuable to your bank and insurance company.

No, in the oil markets if you see inventories plunging down that is a clear signal that at some point there will be a sudden moment of realism when market participants understand that the fog of climate propaganda is not the true story and the market fundamentals require a higher price. That is just how market psychology works, realism ultimately prevails over propaganda.

Oil  and oil products  are experiencing rapid declines in inventories, and that trend, if continued, means higher prices will come into the market at some point. Not in your grandchildren's time, but within this coming year.

https://oilprice.com/Latest-Energy-News/World-News/API-Reports-Large-Draw-in-Crude-Inventories.html

"Crude oil inventories in the United States fell again this week, this time by 4.495 million barrels for the week ending July 26, according to The American Petroleum Institute (API), after analysts predicted a smaller 2.333 million barrel draw.For the week prior, the API reported a 3.9 million barrel draw in crude inventories. This week marks the fifth week in a row of API-estimated inventory draws for crude oil, for a total loss of 24 million barrels during that time."

"Gasoline inventories also fell this week, by 1.917 million barrels, adding onto last week’s 2.8-million-barrel decrease. As of last week, gasoline inventories are 2% below the five-year average for this time of year, according to the latest EIA data.

Distillate inventories shrunk this week by 322,000 barrels, on top of last week’s 1.5-million-barrel decrease. Distillates were about 9% below the five-year average for the week ending July 19, the latest EIA data shows.

Cushing inventories finished out this week’s losses, losing 929,000 barrels, according to API data, on top of the 1.6-million-barrel drop in the previous week."

 

Edited July 30 by Ecocharger

[TailingsPond + 1,008]

8 minutes ago, Old-Ruffneck said:

Old? 65 not old, and I own a construction business, 35 years now. So yes, busy days, and into evenings alot. Such is life.

Directional drilling I think you meant. Yes, has been around a long time, but todays methods are not anything like late 70's through mid 80's when the market took a crap and I went to work for a construction company in Odessa, TX.  Now I am In Central Illinois. 

So 1 well producing 6-8 holes lazer guided can produce more than 1 hole straight down. I worked on a rig that we drilled 7days to 12960 feet and stopped. A finishing crew or now called Completion crew finishes the fracture and sets the well head. Google Andrews TX and you will see many hundreds or wells all lined up and the distance apart. I worked on about 75% of those wells. Every 8 days spudding in a new well.

You have old in your username.

I live in Alberta, it is essentially the Texas of the north. Oil and gas stuff is everywhere - no need to Google wells.  

[Old-Ruffneck + 1,246]

16 minutes ago, TailingsPond said:

Statistically, you and your family members are much more likely to die if you own a handgun.

Most gun fatalities are suicides, followed by murder, then accidents.   A very tiny portion is self defence.

The owner may be mentally stable, trained, and responsible; but his son might go shoot up a school.

I am not sure where your getting these statistics?  Suicide by gun. well if the gun isn't available, the person may walk out in front of a semi.

Most school shootings involve unlocked Rifles. Not Handguns. Yes, I do believe in the U.S 2nd Amendment. 

[Old-Ruffneck + 1,246]

5 minutes ago, Ecocharger said:

Distillate inventories shrunk this week by 322,000 barrels, on top of last week’s 1.5-million-barrel decrease. Distillates were about 9% below the five-year average for the week ending July 19, the latest EIA data shows

This is true, not from Trucking but Airlines are at capacity right now. 

[TailingsPond + 1,008]

2 minutes ago, Ecocharger said:

No, in the oil markets if you see inventories plunging down that is a clear signal that at some point there will be a sudden moment of realism when market participants understand that the fog of climate propaganda is not the true story and the market fundamentals require a higher price. That is just how market psychology works, realism ultimately prevails over propaganda.

Oil  and oil products  are experiencing rapid declines in inventories, and that trend, if continued, means higher prices will come into the market at some point. Not in your grandchildren's time, but within this coming year.

 

You still think there is some intrinsic real value to products.  Only clean air, water, food and shelter have real value.  I guarantee if you were dying of thirst you would trade your i-phone for a bottle of water; your car for another breath when suffocating.

So within this year! Sweet we have a date set, now how high will it go?  Remember your $100 oil by new years prediction? Last year....

[TailingsPond + 1,008]

9 minutes ago, Old-Ruffneck said:

Suicide by gun. well if the gun isn't available, the person may walk out in front of a semi.

You are right, people can attempt suicide by other means.  The difference is guns are very effective at killing; lots of people take pills or cut their wrists and fail to kill themselves, get help, and go on to live normal lives. 

Edited July 30 by TailingsPond

[Ecocharger + 1,474]

1 minute ago, Old-Ruffneck said:

This is true, not from Trucking but Airlines are at capacity right now. 

Yes, the last time I checked the airlines were using fossil fuel aircraft.

My wife and I will be taking off into the blue in a couple of weeks to visit South Korea, Japan, and finally friends in California.

I intend to see just how bad the Demos have driven California into the dust of monumental state debts and budget deficits, while at the same time creating tent cities on city sidewalks littered with outdoor self-injectors...great policy mix for the deadhead Gov.

[Ecocharger + 1,474]

9 minutes ago, TailingsPond said:

You still think there is some intrinsic real value to products.  Only clean air, water, food and shelter have real value.  I guarantee if you were dying of thirst you would trade your i-phone for a bottle of water; your car for another breath when suffocating.

So within this year! Sweet we have a date set, now how high will it go?  Remember your $100 oil by new years prediction? Last year....

I guess you never took an Economics course...yes, of course, the point is that markets move towards equilibrium as information is evaluated, inventories of products are assessed, and propaganda is discarded. That is how markets work.

Economics predictions depend on who wins elections and the policies they bring in. Tell me that and I will give you more precision.

I will give you one solid prediction, CO2 will never be a significant greenhouse gas, nor will methane.

Edited July 30 by Ecocharger

[TailingsPond + 1,008]

3 minutes ago, Ecocharger said:

Yes, the last time I checked the airlines were using fossil fuel aircraft.

My wife and I will be taking off into the blue in a couple of weeks to visit South Korea, Japan, and finally friends in California.

I intend to see just how bad the Demos have driven California into the dust of monumental state debts and budget deficits, while at the same time creating tent cities on city sidewalks littered with outdoor self-injectors...great policy mix for the deadhead Gov.

You have preconceived notions.   You "intend to see things" instead of looking with an impartial eye.  Make sure you tell your Californian friends they are idiots, be a grump and complain about politics.

South Korea and Japan are probably close to home, terrorist. We should probably alert the authorities a spy is coming to the USA.

[TailingsPond + 1,008]

5 minutes ago, Ecocharger said:

I guess you never took an Economics course...yes, of course, the point is that markets move towards equilibrium as information is evaluated, inventories of products are assessed, and propaganda is discarded. That is how markets work.

Economics predictions depend on who wins elections and the policies they bring in. Tell me that and I will give you more precision.

 

The markets are at work right now and near equilibrium.  If there was an erroneous market price in need of correction investors would gobble that up within minutes not hours or days.  Have you ever traded equities?   

Why do I have to tell you election results?  You are the grand wizard of economics!  Good economists say they can predict elections not the other way around.

[TailingsPond + 1,008]

18 minutes ago, Ecocharger said:

Economics predictions depend on who wins elections and the policies they bring in. Tell me that and I will give you more precision.

Why not just predict all possible outcomes?  There are not that many options.

What will happen if Trump wins?

What will Happen if Harris wins?

Alternate GOP wins?

Alternate Dem wins?

Edited July 30 by TailingsPond

[notsonice + 1,255]

And demand for Crude..........down down down

Brent now under $79

that is  a drop of $9 in less than one month

and no end in sight on the drop as demand in China is going down down down

Thanks to EVs

Enjoy the Green Agenda.....

Peak Oil already happened