OPEC Will Likely Balance The Oil Market By Next Month

19 hours ago, JJCar said:

Google "electric vehicle battery technology" .  You will find a half dozen but all financed by Venture Capital.  Many large auto co's developing there own.  Tough to call a winner new technology and mfg process changing.  Mfgers will be leapfrogging each other for a while.  Today's leader could be tomorrow's loser.

Well no, they will not be leap frogging each other.  There is no new battery technology even on the horizon.  Its all centered around 30 year old Lithium ion battery tech and bringing it to market.  Small tweaks is all there is. 

On a related note: I wonder how many homes will burn down as those TESLA powerwalls age and the batteries start to short out due to loss of capacity...

Best battery on the market today is carbon foam gel battery by Firefly.  It has by FAR and away the best $$$/KWh and reliability. 

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(edited)

9 hours ago, Old-Ruffneck said:

Don't waste your time, looking like Adam and Auson are the same trolls. 

Old-Ruffneck said 3/9/2019 at 7:48 AM, Wastral said: Uh, we are a net importer because we have the largest refinery complex on earth and export a gigantic chunk of it. If oil was cut off tomorrow, everyone in the USA would not know the difference. WTI would not change in price. A few refineries would be having large problems as their oil got cut off. Even that would be temporary until the NG got ramped up offloading even more of the plastics etc from oil feed stock which is already happening in a massive way. But yes, any headline you read is almost 100% a lie, a massive lie, or an outright massive lie.

Adam Jackson said really? How much does America consume and how much does America produce? You know it's a net importer and so does any one with any knowledge of oilOn 3/10/2019 at 2:36 PM, Adam Jackson said: Ow really? How much does America consume and how much does America produce? You know it's a net importer and so does any one with any knowledge of oil.

Old-Ruffneck said look at the charts and you tell me. Yer such a smart guy I am quite sure you you can understand the numbers given. https://www.eia.gov/dnav/pet/pet_sum_sndw_dcus_nus_w.htmOn 3/10/2019 at 4:55 PM, Old-Ruffneck said: Look at the charts and you tell me. Yer such a smart guy I am quite sure you you can understand the numbers given.

Adam Jackson said: America consumes around 20 million barrels a day and produces 12 million although I don't believe they produce 12 million but lower. USA doesn't consume 20mbd.

Old-Ruffneck said: you not understanding that we import crude and run it through refinery and ship it back out as a finished product? You obviously aren't educated in Input/output processes. Please get some education and come back here.On 3/10/2019 at 5:58 PM, Old-Ruffneck said: USA doesn't consume 20mbd. Are you not understanding that we import crude and run it through refinery and ship it back out as a finished product? You obviously aren't educated in Input/output processes. Please get some education and come back here.

Adam Jackson said: 7.28 billion barrels of oil USA consumes, consumes as in uses. that works out at around 20 million barrels a day. https://www.google.com/search?q=usa+oil+consumption+per+day&oq=usa+oil+consumption+per+day&aqs=chrome..69i57j0l3.8448j0j4&sourceid=chrome&ie=UTF-8

Old-Ruffneck said: Well, I got numbers from EIA not google, so maybe 12mbd is not correct, but I have a feeling its higher now. 12mbd + 8.9mbd import equals 20.9mbd but exports 8.272mbd. My math isn't good but maybe we really are using 20mbd?My math isn't good but maybe we really are using 20mbd?

Adam Jackson said: That is from EIA.

Old-Ruffneck said: thanks for the info

Edited by Adam Jackson

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Solid State batteries are is not a tweak.

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13 minutes ago, Wastral said:

Well no, they will not be leap frogging each other.  There is no new battery technology even on the horizon.  Its all centered around 30 year old Lithium ion battery tech and bringing it to market.  Small tweaks is all there is. 

On a related note: I wonder how many homes will burn down as those TESLA powerwalls age and the batteries start to short out due to loss of capacity...

Best battery on the market today is carbon foam gel battery by Firefly.  It has by FAR and away the best $$$/KWh and reliability. 

Solid State batteries are not a tweak.

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(edited)

40 minutes ago, JJCar said:

Solid State batteries are not a tweak.

They are worse than a tweak.  They are a step in reverse.  Lower power density(half NMC).  Lower longevity.  Lower reliability. EDIT: Better durability though.  At least your car will not explode in a fireball. 

Edited by Wastral

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59 minutes ago, Adam Jackson said:

Adam Jackson said: That is from EIA.

Old-Ruffneck said: thanks for the info

 

Kid: Learn what sarcasm is...  He was laughing at your ignorance

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8 hours ago, Wastral said:

Kid: Learn what sarcasm is...  He was laughing at your ignorance

Cut kids (like me) some slack plz. Although not sure where the confusion was to begin with. Only the last line of link below explains everything. Net supply = net demand -> rest is just fill in the blanks. US producing (approx) 15mbd of oil/ngls - net imports of around 2.5mbd so net local consumption of 17.5mbd. Further around 1mbd of renewables (this was interesting dataset for me).

https://www.eia.gov/petroleum/supply/monthly/pdf/table4.pdf

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On 3/8/2019 at 11:27 AM, Dan Warnick said:

What evidence is there that OPEC is curbing oil exports to the U.S.?  I question this because that would entail a scenario where a U.S. concern wishes to purchase OPEC oil and OPEC refuses to sell some or all of what the concern wishes to purchase.  Another scenario would be where a U.S. concern's PO is sent and a tanker shows up at the OPEC port for delivery and the OPEC supplier turns the tanker away empty.  Are either of these scenarios happening?  Or is it being reported that less OPEC oil is being received in U.S. ports?  If there was no order, or less orders, that would result in less oil being received in U.S. ports.  You see, this isn't as straight forward as it would seem.  And I think William would agree.

I would argue that OPEC saying they are going to curb oil exports to the U.S. results in speculators taking advantage of such announcements and buying or selling futures contracts to their own (hopefully, it IS speculating) advantage.  Don't forget, speculative futures contracts actually get filled and delivered, or not made and therefore not delivered, as the case may be.

You are correct, Dan, I do agree. The facts support the notion that the Saudis cut because they had to, not because they wanted to. They were smart enough, however, to believe that the traders and the media were dumb enough to buy their story.

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