A global energy crisis is coming. There's no quick fix

[RandomGuy]

London (CNN Business)Astronomical increases in natural gas prices. Skyrocketing coal costs. Predictions of $100 oil.

A global energy crunch caused by weather and a resurgence in demand is getting worse, stirring alarm ahead of the winter, when more energy is needed to light and heat homes. Governments around the world are trying to limit the impact on consumers, but acknowledge they may not be able to prevent bills spiking.

Further complicating the picture is mounting pressure on governments to accelerate the transition to cleaner energy as world leaders prepare for a critical climate summit in November.
In China, rolling blackouts for residents have already begun, while in India power stations are scrambling for coal. Consumer advocates in Europe are calling for a ban on disconnections if customers can't promptly settle what they owe.

"This price shock is an unexpected crisis at a critical juncture," EU energy chief Kadri Simson said Wednesday, confirming the bloc will outline its longer-term policy response next week. "The immediate priority should be to mitigate social impacts and protect vulnerable households."

In Europe, natural gas is now trading at the equivalent of $230 per barrel, in oil terms — up more than 130% since the beginning of September and more than eight times higher than the same point last year, according to data from Independent Commodity Intelligence Services.

In East Asia, the cost of natural gas is up 85% since the start of September, hitting roughly $204 per barrel in oil terms. Prices remain much lower in the United States, a net exporter of natural gas, but still have shot up to their highest levels in 13 years.
"A lot of it is feeding off of fear about what the winter's going to look like," said Nikos Tsafos, an energy and geopolitics expert at the Center for Strategic and International Studies, a Washington-based think tank. He thinks that anxiety has caused the market to break away from the fundamentals of supply and demand.

The frenzy to secure natural gas is also pushing up the price of coal and oil, which can be used as substitutes in some cases, but are even worse for the climate. India, which remains extremely dependent on coal, said this week that as many as 63 of its 135 coal-fired power plants have two days or less of supplies.
The circumstances are causing central banks and investors to worry. Rising energy prices are contributing to inflation, which already was a major concern as the global economy tries to shake off the lingering effects of Covid-19. Dynamics over the winter could make matters worse.
No easy solution
The crisis is rooted in soaring demand for energy as the economic recovery from the pandemic takes hold, and a carefully calibrated system that's easily disrupted by weather events or mechanical problems.
An unusually long and cold winter earlier this year depleted stocks of natural gas in Europe. Soaring demand for energy has impeded the restocking process, which typically happens over the spring and summer.

China's growing appetite for liquified natural gas has meant LNG markets can't fill the gap. A decline in Russian gas exports and unusually calm winds have exacerbated the problem.

"The current surge in European energy power prices is truly unique," energy analysts at the Société Générale bank told clients this week. "Never before have power prices risen so far, so fast. And we are only a few days into autumn — temperatures are still mild."
The dynamics are reverberating globally. In the United States, natural gas prices have risen 47% since the beginning of August. The scramble for coal is also triggering a spike in the price many European companies have to pay for carbon credits so they can burn fossil fuels.
Additionally, the energy crunch is supporting oil prices, which hit seven-year highs in the United States this week. Bank of America recently predicted that a cold winter could push the price of Brent crude, the global benchmark, past $100 per barrel. Prices haven't been that high since 2014.

---------------------------------

https://www.cnn.com/2021/10/07/business/global-energy-crisis/index.html

[Winehole23]

Spain has proposed one solution: clawing back energy companies windfall profits and rebating ratepayers.

[RandomGuy]

Spain has proposed one solution: clawing back energy companies windfall profits and rebating ratepayers.

Seems fair to me.

I would note that energy price spikes preceded the last real estate bubble bursting.

Think China, which depends on energy to continue building shit (concrete, steel). price spike there means they can't keep building and borrowing to fund more building. given vacancy rates... ish.

[Winehole23]

power rationing in China will effect production and hence international trade

https://www.shine.cn/news/nation/2110046016/

[Winehole23]

US saber rattling and Biden's continuation of Trump's trade war with China make things...complicated

[DMC]

Called it

[boutons_deux]

energy suppliers making windfall profits will bribe legislatures for protection and continuation of their profits

[Winehole23]

desperation, tbh

there's little the US can do to stanch commodity inflation.

1445954564872617985

[Winehole23]

interesting wrinkle

1446122019884437516

[ElNono]

desperation, tbh

there's little the US can do to stanch commodity inflation.

1445954564872617985

:tu bad ass joe, promises made, promises kept

[Winehole23]

failed to invest in renewables and handcuffed the country with the 2nd most estimated natural gas reserves


Another big reason for the natural gas shortage is that the US strangled Iran’s natural gas industry and prevented Total and Shell from developing it. The US forestalled major Iranian gas production even after it signed the 2015 Joint Comprehensive Plan of Action with the other UN Security Council members. Despite agreeing to lift US unilateral sanctions, the US did not do so because the Republican Party refused to legislate sanctions relief. The US Treasury Department went on threatening billions of dollars of fines on any company that developed Iranian gas. Under Trump the United States breached its treaty with the UN Security Council and Iran entirely and imposed a financial and trade embargo on Iran that further debilitated its gas industry.


The US Energy Information Agency (https://www.eia.gov/international/content/analysis/countries_long/Iran/pdf/iran_exe.pdf) notes,



“Iran exports natural gas by pipeline to Turkey, Armenia, Azerbaijan, and Iraq, and it receives imports from Azerbaijan. In 2020, Iran exported about 590 billion cubic feet (Bcf) and imported 7 Bcf of natural gas via pipelines (Figure 8). Iran’s natural gas imports decreased substantially after 2015, but exports rose sharply because of Iran’s increased natural gas production from several new South Pars projects since 2014 and increased exports to Iraq. Iran stopped importing natural gas from Turkmenistan in 2019 because higher production and more pipeline coverage made it possible for domestic supplies to reach the northeastern region.”


The EIA also says, “Iran’s estimated proved natural gas reserves were 1,200 trillion cubic feet (Tcf) as of December 2020, second only to Russia . . . ”


In other words, if the US had not stunted Iran’s economy, Iran could be producing triple what it does in the way of natural gas, matching Russia.


Personally I am all for keeping it in the ground. But you can’t take most of Iranian gas, the world’s second largest reserves, off the international market and then blame renewables for the shortfall.
https://www.juancole.com/2021/10/renewables-strangling-iranian.html

[Thread]

That mother fucker hadn't even crouched into a good squat in there when he sent gas up a buck-a-gallon...

President Trump: $2.29 a gallon.
Mother fucker Biden: $3.29 a gallon.

[boutons_deux]

failed to invest in renewables and handcuffed the country with the 2nd most estimated natural gas reserves

https://www.juancole.com/2021/10/renewables-strangling-iranian.html

The shitshow with Iran is, as is very common for master of ceremonies USA, blowback from imperial USA fucking around in Iran 70 years ago.

[Winehole23]

1447451397717434368

[Winehole23]

1447754445136216067

[Winehole23]

industrial shut downs

1447805697786269698

[Winehole23]

1445719002181877773

[RandomGuy]

This may accelerate the bursting of the chinese real estate bubble.

[Winehole23]

This may accelerate the bursting of the chinese real estate bubble.would dovetail with the current political objective of reining in rich folks and financialization in China

[Thread]

That mother fucker hadn't even crouched into a good squat in there when he sent gas up a buck-a-gallon...

President Trump: $2.29 a gallon.
Mother fucker Biden: $3.29 a gallon.

Now, it's...

President Trump: $2.29 a gallon.
Mother fucker Biden: $3.50 a gallon.

[Thread]

The shitshow with Iran is, as is very common for master of ceremonies USA, blowback from imperial USA fucking around in Iran 70 years ago.

The Shah: .17 cents a gallon.
Mother fucker Biden: $3.50 a gallon.

[pgardn]

The Shah: .17 cents a gallon.
Mother fucker Biden: $3.50 a gallon.

Take a bus.
Texas makes it easy for companies to just burn off natural gas. As I write we burn off fuel.
"business friendly"

So get your ass on public transportation if you dont like it.

[Thread]

Take a bus.
Texas makes it easy for companies to just burn off natural gas. As I write we burn off fuel.
"business friendly"

So get your ass on public transportation if you dont like it.

I have to walk 3 miles to get to it.

[pgardn]

I have to walk 3 miles to get to it.

And the problem is what?
You can put strap your bike to the bus if you cant walk.

[Winehole23]

And the problem is what?
You can put strap your bike to the bus if you cant walk.some people have mobility problems a bicycle won't fix

[Thread]

And the problem is what?
You can put strap your bike to the bus if you cant walk.

There's a bum living in the damn thing. I pass by that bus stop for 5 years and he's always in there. I'd have to walk another mile to get to the next one up.

And can you see me trying to finagle that bike in that trap thingy? Oh, yeah, that'd work alright. I'd try my damnest, and fail, he'd toot the horn, I'd yell..."Trump President, not Clinton!!!" and he'd drive off without me.

I'll just have to plunk down the $4.00 a gallon that's comin' up like shit thru a Xmas goose. My lone salvation, peeg? You'll be plunkin down that $4 a gallon as well.

[Winehole23]

coal shortages in India


On Saturday, the Delhi chief minister had also written a letter (https://scroll.in/latest/1007344/delhi-may-face-a-blackout-in-two-days-unless-coal-supply-increases-says-power-minister) to Prime Minister Narendra Modi, demanding that adequate amount of coal should be supplied to plants such as Dadri-II and Jhajjar TPS that provide power to Delhi.

Kumar also admitted that the shortage of coal is currently a problem, according to ANI. “As per our requirement, either we get it from NTPC [National Thermal Power Corporation] or from private companies,” he said. “But the supply is affected now.”

Kumar added that the problem is not limited to Bihar, but exists elsewhere as well.

The statements by the chief ministers came as Union Home Minister Amit Shah held a meeting with Power Minister RK Singh and Coal Minister Pralhad Joshi. In the meeting, the ministers discussed the availability of coal for power plants and the current demand for electricity, according to PTI.

Coal generates about 70% of India’s electricity (https://scroll.in/latest/1007368/coal-shortages-amid-fear-of-blackouts-states-look-for-alternatives-take-steps-to-cut-power-usage). Shortages of the fuel have left multiple states with supply enough to generate power only for a handful of days. In normal situations, states have a stock for 15 to 30 days.

In the past few days, governments in Punjab, Tamil Nadu and Rajasthan have imposed power cuts (https://scroll.in/latest/1007368/coal-shortages-amid-fear-of-blackouts-states-look-for-alternatives-take-steps-to-cut-power-usage) in parts of the states.
https://scroll.in/latest/1007482/coal-shortages-arvind-kejriwal-nitish-kumar-raise-concerns-amit-shah-holds-meeting-with-ministers

[pgardn]

There's a bum living in the damn thing. I pass by that bus stop for 5 years and he's always in there. I'd have to walk another mile to get to the next one up.

And can you see me trying to finagle that bike in that trap thingy? Oh, yeah, that'd work alright. I'd try my damnest, and fail, he'd toot the horn, I'd yell..."Trump President, not Clinton!!!" and he'd drive off without me.

I'll just have to plunk down the $4.00 a gallon that's comin' up like shit thru a Xmas goose. My lone salvation, peeg? You'll be plunkin down that $4 a gallon as well.

You could LEARN to get your bike up on it. Its not that difficult. If they saw an old man struggling someone from the blue team would probably help you.

Im not griping about it.
Especially if it gets more people off the road.
Where I kayak Id love gas to go up so the damn air boats and such would be priced out and they too would have to actually use some muscles and be much quieter on the water. Bring it on... more Bikes, Kayaks, Public transportation. Im in. and Old people driving by the medical center area in SA are dangerous. Have their relatives help them or get on that public transportation.

[pgardn]

some people have mobility problems a bicycle won't fix

Thread lost his legs in an Abbott like accident?

[Winehole23]

Thread lost his legs in an Abbott like accident?who knows?

[Winehole23]

Rising demand, underinvestment and net zero commitments present an "energy straitjacket"


A Global Oil Shortage Is Inevitable (https://oilprice.com/Energy/Crude-Oil/A-Global-Oil-Shortage-Is-Inevitable.html)“On current trends, global oil supply is likely to peak even earlier than demand,” Morgan Stanley’s research department wrote in a note this week carried by Reuters.


“The planet puts boundaries on the amount of carbon that can safely be emitted. Therefore, oil consumption needs to peak,” analysts at Morgan Stanley said.

[Winehole23]

Gazprom (apparently) throws Europe a bone

1453619518874529795

[Winehole23]

Just plain crazy prices

1464248263532593157

[Winehole23]

1464949278829420556

1472211604775264257

[Winehole23]

Brent crude near $140/bbl, DJIA futures down 400.

Bit of noise about cutting Russian oil and gas, hard to see how that wouldn't cause a demand shock -- recession. We could end up in a recession over energy prices regardless. As pointed out in the thread, prices present affordability problems for both industry and consumers.

1500753868719804423

[Thread]

Brent crude near $140/bbl, DJIA futures down 400.

Bit of noise about cutting Russian oil and gas, hard to see how that wouldn't cause a demand shock -- recession. We could end up in a recession over energy prices regardless. As pointed out in the thread, prices present affordability problems for both industry and consumers.

1500753868719804423

Ruh, roh...

MARKETS (https://www.foxbusiness.com/category/markets)
Oil traders eye $200 per barrel this month (https://www.foxbusiness.com/markets/oil-traders-200-per-barrel-report)

[Winehole23]

Iranian oil may not be a safety valve


Russia (https://www.scmp.com/topics/russia?module=inline&pgtype=article) has threatened to torpedo an imminent agreement to revive the Iran (https://www.scmp.com/topics/iran?module=inline&pgtype=article) nuclear deal by linking it to Western sanctions imposed after the invasion of Ukraine (https://www.scmp.com/topics/ukraine?module=inline&pgtype=article).



Speaking in Moscow late on Friday, Foreign Minister Sergey Lavrov (https://www.scmp.com/author/sergey-lavrov?module=inline&pgtype=article) said Moscow had asked Washington to guarantee that Russia’s future trade with Iran would not be subjected to Ukraine-related sanctions.



Otherwise, the Kremlin would not endorse the prospective Iran nuclear deal, he said, raising the spectre of a Russian veto if and when an agreement is presented to the United Nations (https://www.scmp.com/topics/united-nations?module=inline&pgtype=article) Security Council for approval.

https://thewire.in/world/possible-end-to-dollar-dominance-permanent-alterations-to-the-world-order-post-ukraine

[Winehole23]

this is the price to commercial, not residential users

https://pbs.twimg.com/media/FNQSwZYXIAYAl7Z?format=png&name=small

[Millennial_Messiah]

Thanks entirely to the dummycrats for shutting down the hyper-efficient Keystone XL pipeline because of ":cry muh environment :cry :cry"

[ChumpDumper]

:lmao "hyper efficient"

[DarrinS]

1500865514985381893

[Winehole23]

1500865514985381893The UAE, Kuwait and the KSA say hello.

[SnakeBoy]

1500865514985381893

Sleepy Joe is getting desperate

Remember he freaked out and released from the SPR when oil was.....$80 :lol

[Thread]

Iranian oil may not be a safety valve

https://thewire.in/world/possible-end-to-dollar-dominance-permanent-alterations-to-the-world-order-post-ukraine

Now beside MBS and Mad down in Ven. Biden has to kiss Uraini, I mean Iranian ass. Not a year ago he swore up and down he was going to play hard ball, and make 'em like it. Not a year later, he'll put hat-in-hand and go beggin'..."I'm sorry for what President Trump did, but you'll find me much easier. Por favor?"

[CosmicCowboy]

:lmao "hyper efficient"

compared to hauling the same oil by train.

[Will Hunting]

Thanks entirely to the dummycrats for shutting down the hyper-efficient Keystone XL pipeline because of ":cry muh environment :cry :cry"
:lmao the Keystone Pipeline that Biden shut down wasn't going to be delivering any additional oil until 2030 at the earliest.

[SnakeBoy]

:lmao the Keystone Pipeline that Biden shut down wasn't going to be delivering any additional oil until 2030 at the earliest.

Fact is

Joe Biden shut down Keystone!

[Will Hunting]

Fact is

Joe Biden shut down Keystone!
And that has zero impact on what energy prices are right now, but Republican voters and failing to comprehend nuance are a duo that goes back like hot wheels and race tracks.

[ChumpDumper]

1500865514985381893

Can't force US producers to produce.

Is that what you're demanding, Darrin?

[ChumpDumper]

compared to hauling the same oil by train.The hyper efficient tar sand oil?

[CosmicCowboy]

The hyper efficient tar sand oil?

your strawman, not mine.

[CosmicCowboy]

just paid $4.19 a gallon for premium here in SA.

[SnakeBoy]

And that has zero impact on what energy prices are right now, but Republican voters and failing to comprehend nuance are a duo that goes back like hot wheels and race tracks.

blah blah words blah blah words

Joe Biden cancelled the Keystone Pipeline

That is a fact

[ChumpDumper]

your strawman, not mine.We're talking HYPER EFFICIENCY here.

[CosmicCowboy]

We're talking HYPER EFFICIENCY here.

No we were talking about oil pipelines being more efficient and safer than transporting oil by train. Try to keep up.

[ChumpDumper]

No we were talking about oil pipelines being more efficient and safer than transporting oil by train. Try to keep up.The 8% completed pipeline?

Still not seeing the HYPEREFFICIENCY.

[CosmicCowboy]

The 8% completed pipeline?

Still not seeing the HYPEREFFICIENCY.

wasn't my claim dildo.

[DMC]

I thought Solar was going to save the world.

[BackHome]

Ask Germany how is all that Solar helping them during the winter?

[ElNono]

Ask Germany how is all that Solar helping them during the winter?

And Wind, lots of wind. Helping a ton, and so they're committed to increase it. They couldn't have scrapped that Nordstream 2 pipeline 10 years ago, tbh...

[Winehole23]

I've seen the figure for Russian oil imports to the US cited as around 3%. I sure wish newspapers would link their sources.


The U.S. is expected to announce as early as Tuesday that it will ban imports of Russian oil, a move that would cut about 8% of America’s annual supply.


The news of the upcoming announcement, confirmed to CNBC by a person familiar with the matter, sent oil markets soaring (https://www.cnbc.com/2022/03/08/americans-are-paying-the-most-at-the-pump-on-record-amid-a-surge-in-energy-prices.html).
https://www.cnbc.com/2022/03/08/us-expected-to-announce-ban-on-russian-oil-as-soon-as-today-nbc-news-reports.html

[Winehole23]

oil/petroleum products accounts for the discrepancy


In 2021, the US imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia, according to the (https://www.afpm.org/newsroom/blog/oil-and-petroleum-imports-russia-explained) American Fuel and Petrochemical Manufacturers (AFPM) trade association.

This represented three percent of US crude oil imports and one percent of the total crude oil processed by US refineries. By contrast, the US imported 61 percent of its crude oil from Canada, 10 percent from Mexico, and six percent from Saudi Arabia in the same year.

According to the AFPM, imports of Russian crude oil have increased since 2019, when the US imposed sanctions on Venezuela’s oil industry. US refiners also temporarily boosted Russian imports last year after Hurricane Ida disrupted oil production in the Gulf of Mexico.
https://www.aljazeera.com/news/2022/3/3/how-much-oil-does-the-us-import-from-russia

[RandomGuy]

hyper-efficient Keystone XL pipeline

:lmao

Are you really that dumb?

[RandomGuy]

The hyper efficient tar sand oil?


your strawman, not mine.

... and that is where nuance sails right over you and MM's heads.

Sure pipelines are efficient at transporting liquids/gases.

Critical thinking question: Are all products in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?

[RandomGuy]

Ask Germany how is all that Solar helping them during the winter?

It will make nuclear finally acceptable in Germany.

[RandomGuy]

blah blah words blah blah words

Joe Biden cancelled the Keystone Pipeline

That is a fact

Indeed.

So what, Lazyboi?

[DMX7]

just paid $4.19 a gallon for premium here in SA.

The ban is just political suicide. I've been a strong supporter of Biden's decisions so far but it's stupid as f**k to ban Russian imports that are just going to get redirected somewhere else.

[RandomGuy]

I've seen the figure for Russian oil imports to the US cited as around 3%. I sure wish newspapers would link their sources.

https://www.cnbc.com/2022/03/08/us-expected-to-announce-ban-on-russian-oil-as-soon-as-today-nbc-news-reports.html

Crude oil:
https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_a.htm

Total crude oil and products:
2021 245k/3090k = 7%

Crude only:
2021: 72k/2230k = 3%

[RandomGuy]

The ban is just political suicide. I've been a strong supporter of Biden's decisions so far but it's stupid as f**k to ban Russian imports that are just going to get redirected somewhere else.

He knows that. The people advising him know that.

Most people don't understand the word "fungible" so it is a messaging play.

Harder to defend the fact we are sending money to Russia for them to kill Ukranians. "Someone else can, but we will not."

Time to buy more Tesla stock. That and stock in whoever is making windmills.

Bans on Russia's oil/gas will accelerate decarbonization.

[Thread]

He knows that. The people advising him know that.

Most people don't understand the word "fungible" so it is a messaging play.

Harder to defend the fact we are sending money to Russia for them to kill Ukranians. "Someone else can, but we will not."

Time to buy more Tesla stock. That and stock in whoever is making windmills.

Bans on Russia's oil/gas will accelerate decarbonization.

Please..."Vlad, uh, Mr. President, uh, we'll take that percentage that America just quit if you'd be so gracious. Just don't tell on us. Danke." - German Chancellor Kohl

[SnakeBoy]

Time to buy more Tesla stock.

'22 is oil, '23 is EV's. I like Ford over Tesla. Potentially 4x gain ahead if they execute. Hopefully they get hammered back to single digits by eoy first.

[CosmicCowboy]

... and that is where nuance sails right over you and MM's heads.

Sure pipelines are efficient at transporting liquids/gases.

Critical thinking question: Are all products in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?

Of course, water, shit, gas, oil, etc. all have different units of energy. All transported by pipelines.

What a fucking stupid "nuance" from RG.

[Thread]

Of course, water, shit, gas, oil, etc. all have different units of energy. All transported by pipelines.

What a fucking stupid "nuance" from RG.

...he's off the deep end AGAIN.

[DarrinS]

1500809417612148741

[DMC]

Of course, water, shit, gas, oil, etc. all have different units of energy. All transported by pipelines.

What a fucking stupid "nuance" from RG.

He has to flex his intelligence muscle. Probably increased the group IQ by double digits when he was ETS'd.

[Thread]

Biden announces ban on Russian energy imports

By Kaitlan Collins (https://www.cnn.com/profiles/kaitlan-collins), Jeremy Diamond (https://www.cnn.com/profiles/jeremy-diamond), Kevin Liptak (https://www.cnn.com/profiles/kevin-liptak-profile), Phil Mattingly (https://www.cnn.com/profiles/phil-mattingliy-profile) and Kate Sullivan (https://www.cnn.com/profiles/kate-sullivan), CNN
Updated 11:33 AM ET, Tue March 8, 2022

The US will make the move unilaterally

...You GD rights they will CNN.

[pgardn]

Whiny babies...

A war is actually affecting my driving habits? :cry
Im not supposed to feel anything and have my coffee per usual.
Its others that should suffer, not me.

[Thread]

Whiny babies...

A war is actually affecting my driving habits? :cry
Im not supposed to feel anything and have my coffee per usual.
Its others that should suffer, not me.

..."by the end of the year." - Biden

It's the first week of fucking March! LMAO!

If I were TeddyKGB I'd counter Biden toot sweet..."Nyet! Not another drop." & no refunds..."Don't give that man his money."

[SnakeBoy]

Poor people are whiny babies

Today's libs smh

[SnakeBoy]

Indeed.

So what, Lazyboi?

If you're explaining, you're losing. Politics 101

Joe Biden cancelled Keystone

It's a fact

[pgardn]

Prices are going up along with oil during a war:

"This damn war is affecting ME?
It does not work like this, I am supposed to be fine."

[Thread]

Prices are going up along with oil during a war:

"This damn war is affecting ME?
It does not work like this, I am supposed to be fine."

...well, except for the flights into Dover every now and again the 21 year war with Afghanistan had negligible effect on (Prices). A fortnight into this and we're heading for 5 bucks a gallon like a bat outta hell.

[boutons_deux]

Can't force US producers to produce.

Is that what you're demanding, Darrin?

US big oil has said they will not increase production this year and to increase capitalistic wealth extraction from the citizens

[pgardn]

...well, except for the flights into Dover every now and again the 21 year war with Afghanistan had negligible effect on (Prices). A fortnight into this and we're heading for 5 bucks a gallon like a bat outta hell.

Hell...

We could get shot or bombed next.

[RandomGuy]

If you're explaining, you're losing. Politics 101

Joe Biden cancelled Keystone

It's a fact

Indeed. You showed me, that's for sure.

03GYzR0LyQM

[RandomGuy]

Today's libs smh

Todays neo-fashies smh

jmT7nLDinhY

[Thread]

Hell...

We could get shot or bombed next.

Putin doesn't want to bomb us, nuclear, or otherwise. He can get to us/Biden just by bombing (them) conventional, or otherwise. Christ, in a fortnight he's driven Biden to begging men/countries he swore to execute if he got a hold of 'em not 6 months ago.

Putin has Biden snortin' somethin' awful, which if not Putin's lone goal (it's mine, yes) then it's a sweet by-product of said lone goal.

[Thread]

Biden turns to countries he once sought to avoid to find help shutting off Russia's oil moneyBy Kevin Liptak (https://www.cnn.com/profiles/kevin-liptak-profile), Phil Mattingly (https://www.cnn.com/profiles/phil-mattingliy-profile), Natasha Bertrand (https://www.cnn.com/profiles/natasha-bertrand-profile), MJ Lee (https://www.cnn.com/profiles/mj-lee) and Kylie Atwood (https://www.cnn.com/profiles/kylie-atwood), CNN
Updated 11:28 AM ET, Tue March 8, 2022


State run media CNN is much too kind here..."once sought to avoid"

That's a hoot. He sought to murder Mad down in Ven, and almost threatened MBS with the same fate before Hussein warned him off, instead just beating MBS to the ignore instead of threatening to kill him every other day. A sectioned journalist was nary big deal after all.

[pgardn]

Putin doesn't want to bomb us, nuclear, or otherwise. He can get to us/Biden just by bombing (them) conventional, or otherwise. Christ, in a fortnight he's driven Biden to begging men/countries he swore to execute if he got a hold of 'em not 6 months ago.

Putin has Biden snortin' somethin' awful, which if not Putin's lone goal (it's mine, yes) then it's a sweet by-product of said lone goal.

Sarcasm by me on Americans not feeling true war.
War for us has become a financial inconvenience.
Im thinking we need to really suffer to understand. Because war is something that happens far off... no skins in the game. Unless you are there or have kids or parents involved. And then we say "thanks for your service" to many guys who just wanted it to be a job and did not want to see killing or be killed.

[DarrinS]

Whiny babies...

A war is actually affecting my driving habits? :cry
Im not supposed to feel anything and have my coffee per usual.
Its others that should suffer, not me.


Price of fuel goes up --> price of everything goes up

Whiny poors!

[ElNono]

1500809417612148741

Rather get it from Iran and Venezuela, tbh

[Thread]

Sarcasm by me on Americans not feeling true war.
War for us has become a financial inconvenience.
Im thinking we need to really suffer to understand. Because war is something that happens far off... no skins in the game. Unless you are there or have kids or parents involved. And then we say "thanks for your service" to many guys who just wanted it to be a job and did not want to see killing or be killed.

Yes, and Putin know this like the back of his hand. He feels no danger nor pressure from the U.S.. That's a great relief for him, enormous even. He knows we'll never go first again, not after Japan. So, he'll never hit us with it. All we can do is watch via CNN, that's our/Biden's punishment as Putin incinerates Ukr like, well, kinda like we incinerated Nagasaki and Hiroshima.

What Biden would love to do would be to take Putin out of commission, off the playing field once and for all, and this is the perfect opportunity, he's set up properly by State run media here for it. Even China would be peeved, but would stand the gaffe with just some back sass, but no action, none.

How to get to him is the question. Something like Godfather III, where the hit man is sent in wearing eye glasses, gets close enough to his quarry/Putin for instance, needs to whisper the deal he has come with, breaks the glasses and gouges the fellows windpipe. Something along those lines.

He'd/Biden would be hailed like nobody else. He's be canonized and held up as a deity for all time. Me? I'd be destroyed, completely kaput, not worth a tinker's dam, so low I could play hand ball off the curb in front of the house, lower than skunk shit. You get the idea.

ADDENDUM:::Got it a little off the kilter. The victim was wearing the eyeglasses, same culmination though...


https://youtu.be/5uK3wYrl3aU

[Winehole23]

blah blah words blah blah words

Joe Biden cancelled the Keystone Pipeline

That is a factWall Street keeping its checkbook in its pocket is also a fact. Fracking never turning a profit is another one.

1501260031378923523

[ElNono]

Yes, and Putin know this like the back of his hand. He feels no danger nor pressure from the U.S.

He should just open the stock market in Russia then...

[RandomGuy]

Price of fuel goes up --> price of everything goes up

Whiny poors!


I will take up arms, accept rationing of fuel and food and everything to fight fascism


:cry why is gas so expensive :cry


when will you quit embarassing us?


Quit embarrassing us, Darrin.

[ChumpDumper]

wasn't my claim dildo.THEORETICAL FUTURE HYPEREFFICIENCY

[RandomGuy]

... and that is where nuance sails right over you and MM's heads.

Sure pipelines are efficient at transporting liquids/gases.

Critical thinking question: Are all products in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?


Of course, water, shit, gas, oil, etc. all have different units of energy. All transported by pipelines.

What a fucking stupid "nuance" from RG.

(patiently)

I was not as clear as I could have been, my bad, and apologies. It seems you didn't quite understand the nature of my question.

to re-phrase:

Are all energy products, such as barrels of oil in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?

Put another way:

Are some barrels of oil less efficient in terms of the amount of energy required to get them out of the ground and turn them into usable energy than other barrels of oil?

[ChumpDumper]

1500809417612148741

Texas unwilling to produce any more than it already is.

[DarrinS]

Just buy an EV, you whiny poors


1501236857673338883

[SnakeBoy]

Texas unwilling to produce any more than it already is.

All the Texas producers are increasing production

[ChumpDumper]

All the Texas producers are increasing production

If that's true, then the initial tweet from your side was complete bullshit.:tu

Can't have it both ways.

[Thread]

Texas unwilling to produce any more than it already is.

Cutting off their own & Joe's nose to spite all of our faces. If they increase the pump then Joe benefits, and I'm annoyed.

Don't pumpPERIOD

[Thread]

Texas unwilling to produce any more than it already is.


All the Texas producers are increasing production

C'mon, give me the straight poop!

[BD24]

Honestly if people weren’t such dumb asses/pussies about nuclear energy we wouldn’t be in this spot

[SnakeBoy]

C'mon, give me the straight poop!

They are increasing production slowly. Cash flowing capex, paying legacy debt, providing returns to shareholders, stock buybacks etc. So far they've shown great capital discipline. Barring demand destruction (global recession) WTI will settle around $80-90 in 2023. A global recession would put them back in the hole if they went balls out producing right now. They know that, and they know it's possible.

Still, Joe Biden cancelled the Keystone pipeline. That's a fact.

[ChumpDumper]

boy is explaining, so he admits he's losing

[SnakeBoy]

boy is explaining, so he admits he's losing

I'm not the party in power

[Thread]

They are increasing production slowly. Cash flowing capex, paying legacy debt, providing returns to shareholders, stock buybacks etc. So far they've shown great capital discipline. Barring demand destruction (global recession) WTI will settle around $80-90 in 2023. A global recession would put them back in the hole if they went balls out producing right now. They know that, and they know it's possible.

Still, Joe Biden cancelled the Keystone pipeline. That's a fact.

Texas should not pull Biden's fat outta the fire now. Let-it-burn.

[SnakeBoy]

Texas should not pull Biden's fat outta the fire now. Let-it-burn.

Bottom line, Peepaw is stuck between a rock and a hard place. He's just going to keep getting squeezed and I'm going to enjoy every minute of it.

In other news, I got stopped out of my OXY play today for 100% gain. 2022 is in the bag for me. Until the smoke clears, I'm just sittin' here watchin' the wheels go round and round...I really love to watch them roll.

[Thread]

Bottom line, Peepaw is stuck between a rock and a hard place. He's just going to keep getting squeezed and I'm going to enjoy every minute of it.

In other news, I got stopped out of my OXY play today for 100% gain. 2022 is in the bag for me. Until the smoke clears, I'm just sittin' here watchin' the wheels go round and round...I really love to watch them roll.

It's been nice seeing Biden get deeper and deeper into it.

[CosmicCowboy]

(patiently)

I was not as clear as I could have been, my bad, and apologies. It seems you didn't quite understand the nature of my question.

to re-phrase:

Are all energy products, such as barrels of oil in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?

Put another way:

Are some barrels of oil less efficient in terms of the amount of energy required to get them out of the ground and turn them into usable energy than other barrels of oil?

You seem to be assuming a false premise that oil is only burned for energy.

[SnakeBoy]

You seem to be assuming a false premise that oil is only burned for energy.

28% is not burned. It's turned into things like electric vehicles and whatnot.

[DMC]

Bottom line, Peepaw is stuck between a rock and a hard place. He's just going to keep getting squeezed and I'm going to enjoy every minute of it.

In other news, I got stopped out of my OXY play today for 100% gain. 2022 is in the bag for me. Until the smoke clears, I'm just sittin' here watchin' the wheels go round and round...I really love to watch them roll.

Careful. Remember what happened to the last one who did that.

[ChumpDumper]

I'm not the party in powerExplaining again.

Loser.

[BackHome]

It will make nuclear finally acceptable in Germany.

Agreed the future should be Nuclear heck I think even Finland is building a Nuclear plant that will produce 14% of there electricity.

[ElNono]

Just buy an EV, you whiny poors

1501236857673338883

Of course it should motivate us to get away from oil. It's not going to be overnight, but absolutely.

[FuzzyLumpkins]

You seem to be assuming a false premise that oil is only burned for energy.

Natural gas is hardly the only way to isolate N. Nevermind the fucking mess making all that ammonia entails.

[RandomGuy]

Explaining again.

Loser.

:lol Well played.

[RandomGuy]

... and that is where nuance sails right over you and MM's heads.

Sure pipelines are efficient at transporting liquids/gases.

Critical thinking question: Are all products in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?



Of course, water, shit, gas, oil, etc. all have different units of energy. All transported by pipelines.

What a fucking stupid "nuance" from RG.


(patiently)

I was not as clear as I could have been, my bad, and apologies. It seems you didn't quite understand the nature of my question.

to re-phrase:

Are all energy products, such as barrels of oil in those pipelines equally efficient in terms of [units of energy to produce]/[units of energy from product]?

Put another way:

Are some barrels of oil less efficient in terms of the amount of energy required to get them out of the ground and turn them into usable energy than other barrels of oil?


You seem to be assuming a false premise that oil is only burned for energy.

I'm not. A significant percentage goes to the chemical industry for various things. Still, most oil does go to fuel of various types. You already know this, I would wager, and you are being unfair to me, which you also know.

Now that we have established that, let's return to our critical thinking question.

Are some barrels of oil less efficient in terms of the amount of energy required to get them out of the ground and turn them into usable energy than other barrels of oil?

[CosmicCowboy]

I'm not. A significant percentage goes to the chemical industry for various things. Still, most oil does go to fuel of various types. You already know this, I would wager, and you are being unfair to me, which you also know.

Now that we have established that, let's return to our critical thinking question.

Are some barrels of oil less efficient in terms of the amount of energy required to get them out of the ground and turn them into usable energy than other barrels of oil?

Of course. I'm not sure what your point is. Every oil project has a "cost/price per barrel" break even point. If your objection is to tar sands oil specifically I can accept that there can be reservation due to environmental degradation...It's a nasty ass process. Just be intellectually honest about it and don't try to justify it by cost. Same with the people blaming gas prices on keystone not being completed. That's bullshit. Even if the pipeline was 100% done it wouldn't affect gas prices as that ultra heavy tar sands oil is great for asphalt, shingles, chemical and plastics applications etc. Not so much for gasoline.

[Winehole23]

1501808767729606657

[Winehole23]

blast from the recent past

1402698321463058432

[boutons_deux]

Of course it should motivate us to get away from oil. It's not going to be overnight, but absolutely.

because Europeans pay so much for gasoline they have adopted electric cars at a much higher rate than Americans

[boutons_deux]

Remember when trash was encouraging the Saudis to raise the price of oil

[Thread]

Remember when trash was encouraging the Saudis to raise the price of oil

No, all I remember is this...

President Trump: $2.29 a gallon.
MF Biden: $4.29 a gallon.

[Blake]

No, all I remember is this...

President Trump: $2.29 a gallon.
MF Biden: $4.29 a gallon.

Yeah, that's what simpletons remember.

[Thread]

Yeah, that's what simpletons remember.

Please, Blake if it were reversed, you'd be me and I'd be,,,you?

tee, hee.

[SnakeBoy]

Oil Dips as Inflation Adds to Concerns Over Demand Destruction
https://www.bloomberg.com/news/articles/2022-03-09/oil-edges-higher-as-wild-market-recovers-following-huge-slump

[boutons_deux]

Yeah, that's what simpletons remember.

For this asshole and similar assholes, simpleton is a compliment.

[boutons_deux]

Yeah, that's what simpletons remember.

For this asshole and similar assholes, simpleton is a compliment.

[Winehole23]

Energy bills to hit £3,000 in October, warns Scottish Power boss who fears 10M homes will be unable to afford heating this winter https://www.dailymail.co.uk/news/article-10796701/Energy-bills-hit-3-000-October-warns-Scottish-Power-boss.html

[Winehole23]

no quick fix for this

1524401637317558273

[SnakeBoy]

Citi says oil should be around $70 as demand drops and recession looms
https://markets.businessinsider.com/news/commodities/oil-price-outlook-citi-70-demand-drops-recession-looms-brent-2022-6

Rock, Ol Joe, Hard Place

[spurraider21]

manchin finally starting to realize that its pointless to negotiate with terrorists

Scoop: Manchin's bipartisan energy talks crumble, paving way for Democrat-only deal (https://www.axios.com/2022/06/02/manchin-energy-build-back-better-bipartisan?utm_source=twitter&utm_medium=social&utm_campaign=editorial&utm_content=politics-manchinenergy)

[koriwhat]

The quick fix is to kick all our do-nothing-politicians out of office and tear the red tape up on all those damn regulations. It'll at least fix our energy crisis and you know it will because it's been proven true a few yrs back.

[SnakeBoy]

manchin finally starting to realize that its pointless to negotiate with terrorists

Scoop: Manchin's bipartisan energy talks crumble, paving way for Democrat-only deal (https://www.axios.com/2022/06/02/manchin-energy-build-back-better-bipartisan?utm_source=twitter&utm_medium=social&utm_campaign=editorial&utm_content=politics-manchinenergy)


tick tock

and green energy tax credits :lol

[Winehole23]

IEA predicts that the supply oil will fall short of demand next year as well.

1536990116052443136

[Winehole23]

At a similar price per barrel of oil, gasoline was around 3 bucks a gallon, now it's five bucks.

1537426600756621313

[Winehole23]

1537888842203529223

[Winehole23]

Looking at OPEC+’s own production targets, the group has not been producing at agreed levels for months. At the Middle East and North Africa-Europe Future Energy Dialogue in Jordan, UAE’s Al Mazrouei said that OPEC+ was running 2.6 million barrels a day short of its production target. That means a potential shortage in the market, which could increase even further if internal turmoil causes further production decreases. For July-August, OPEC+ agreed to increase output by another 648,000 bpd, which would mean that the total output cut during COVID-19 pandemic of 5.8 million bpd has been restored. Whether or not OPEC+ is able to reach that level in the coming weeks remains very uncertain.


Pressure will build in the coming days, as Al Mazrouei’s remarks seem to rebuke claims of a spare capacity shortage, but as always “where there is smoke, there is a fire”. A possible spare production capacity shortage, or non-availability at all, combined with an expected force majeure of Libya’s NOC in the Gulf of Sirte, and a suspension of Ecuador’s oil output (520,000 bpd) in the coming days due to anti-government protests, are likely to lead to an oil price spike.


There is still some optimism in markets about a real demand-supply crunch, as high inflation levels and a possible global economic slowdown could lead to lower demand. Until now, however, that optimism has not materialized at all, demand is still increasing, even though gasoline and diesel prices are breaking historical price levels. The re-opening of the Chinese economy, a natural gas shortage globally, and higher temperatures in the coming weeks, combined with the normal peak in demand due to the US and EU driving season, all look set to push oil prices higher.
https://oilprice.com/Energy/Energy-General/Oil-Markets-Could-Face-A-Doomsday-Scenario-This-Week.html

[Winehole23]

There is no quick-fix solution to the current oil market crisis, even the lifting of sanctions on Venezuela or Iran will not result in substantial volume increases. At the same time, increased Western political interference in the already struggling market will hit volumes too. The growing call in the USA, UK, and EU, to put a windfall tax on oil and gas companies will not only constrain further investments in upstream but will also lead to higher prices at the pump. Consumers are not going to feel any positive price effects and can expect steadily increasing energy bills in the coming months.

[Winehole23]

Russia gas halt could deal 12.7% hit to German H2 performance (https://www.reuters.com/business/energy/russia-gas-halt-could-deal-127-hit-german-h2-performance-2022-06-28/)

[Thread]

^^^^^^^^^
Please!!!
President Trump: $2.19 a gallon.
Fake President Biden: $5.00 a gallon.

[Thread]

Russia gas halt could deal 12.7% hit to German H2 performance (https://www.reuters.com/business/energy/russia-gas-halt-could-deal-127-hit-german-h2-performance-2022-06-28/)



Germany fucked up.
Germany found out.
Germany gonna find out again come winter.

https://d.newsweek.com/en/full/449548/lavrov-putin.jpg

[SnakeBoy]

1542155379450302466

[Winehole23]

According to Rystad Energy analysis, global recoverable oil now totals an estimated 1,572 billion barrels, a drop of almost 9% since last year and 152 billion fewer barrels than 2021’s total. Recoverable oil corresponds to the industry term “remaining technically recoverable crude oil and lease condensate”, i.e. expected volumes including fields, discoveries and risked future discoveries.
The drop in reserves is driven by the 30 billion barrels of oil produced last year, plus a significant reduction in undiscovered resources, to the tune of 120 billion barrels. The US offshore sector has contributed the largest total to that drop, where 20 billion barrels of oil will remain in the ground, largely thanks to leasing bans on federal land.



Looking at the longer-term picture, Rystad Energy has updated our estimates for total undiscovered oil from 1 trillion barrels in 2018 to 350 billion barrels in our latest report, due to a rapid collapse in investor appetite for exploration exposure, leading to fewer government leaseshttps://www.rystadenergy.com/newsevents/news/press-releases/total-recoverable-oil-worldwide-is-now-9-lower-than-last-year-threatening-global-energy-security/

[boutons_deux]

Americans Prepare For $10 Gas

JP Morgan says crude could rise to $380 a barrel,

if Russia takes revenge against the West for its participation in the war in Ukraine.

Oil prices at $380 would push gas prices above $10 a gallon, and perhaps toward $15.

https://247wallst.com/energy-business/2022/07/03/americans-prepare-for-10-gas/

[Thread]

Americans Prepare For $10 Gas

JP Morgan says crude could rise to $380 a barrel,

if Russia takes revenge against the West for its participation in the war in Ukraine.

Oil prices at $380 would push gas prices above $10 a gallon, and perhaps toward $15.

https://247wallst.com/energy-business/2022/07/03/americans-prepare-for-10-gas/


& if I were Putin I'd do precisely that.

[SnakeBoy]

European Union Labels Natural Gas and Nuclear Energy "Green" Wednesday, July 6, 2022 The European Parliament has now "endorsed labeling some gas and nuclear energy projects as 'green.'" This designation will now enable these energy projects to have "access to hundreds of billions of euros in cheap loans and even state subsidies."

[ElNono]

European Union Labels Natural Gas and Nuclear Energy "Green" Wednesday, July 6, 2022 The European Parliament has now "endorsed labeling some gas and nuclear energy projects as 'green.'" This designation will now enable these energy projects to have "access to hundreds of billions of euros in cheap loans and even state subsidies."

:tu

[Winehole23]

1549380843621302280

[Winehole23]

Some tender feelings there, for sure

1550059716008714242

[Winehole23]

1551577574463225859

[Winehole23]

Germany is already deindustrializing


More and more companies are giving up their production in Germany or have restricted their business operations due to the sharp rise in energy prices. This is the result of a DIHK preliminary evaluation of the annual energy transition barometer among around 3,500 companies from all sectors and regions nationwide.



According to this, a total of 16 percent of industrial companies feel compelled to react to the current energy situation by reducing production or at least partially giving up business areas. According to their own statements, almost a quarter of them have already done so, and another quarter are in the process of doing so. About half of these companies state that they are still planning corresponding steps.


"These are alarming numbers," says DIHK President Peter Adrian. "They show how strongly permanently high energy prices are a burden on our location. Many companies have no choice but to close down or relocate production to other locations."



https://www.dihk.de/de/themen-und-positionen/wirtschaftspolitik/energie/erdgas-als-druckmittel-wege-aus-der-krise/stark-gestiegene-energiepreise-gefaehrden-produktion-in-deutschland-76516

[Winehole23]

Germany's BASF (BASFn.DE) (https://www.reuters.com/companies/BASFn.DE), the world's largest chemical company, is cutting ammonia production further due to soaring natural gas prices, it said on Wednesday, with potential ramifications from farming to fizzy drinks.

Germany's biggest ammonia maker SKW Piesteritz and number four Ineos also said they could not rule out production cuts as the country grapples with disruption to Russian gas supplies.

Ammonia plays a key role in the manufacturing of fertiliser, engineering plastics and diesel exhaust fluid. Its production also yields high-purity carbon dioxide (CO2) as a byproduct, which is needed by the meat and fizzy drinks industries.

"We are reducing production at facilities that require large volumes of natural gas, such as ammonia plants," BASF Chief Executive said in a media call after the release of quarterly results, confirming an earlier Reuters report.
https://www.reuters.com/business/energy/basf-considers-more-ammonia-production-cuts-gas-supply-crunch-sources-2022-07-27/

[SnakeBoy]

https://www.reuters.com/business/energy/basf-considers-more-ammonia-production-cuts-gas-supply-crunch-sources-2022-07-27/


https://www.youtube.com/watch?v=ZOCeahjOmbE


https://www.youtube.com/watch?v=Cm_fPN-yeJc

[SnakeBoy]

Shale Profits Finally Blossoming After Decade of Steep Losses
https://www.energyconnects.com/news/oil-and-gas/2022/july/shale-profits-finally-blossoming-after-decade-of-steep-losses/#:~:text=Shale%20Profits%20Finally%20Blossoming%20 After%20Decade%20of%20Steep,days%2C%20reversing%20 nearly%20a%20decade%20of%20debt-fueled%20losses.

https://www.energyconnects.com/media/r2zduik1/bloomburgmedia_rfn6rdt0g1kw01_31-07-2022_16-00-10_637948224000000000.png?width=1050

[ElNono]

Shale Profits Finally Blossoming After Decade of Steep Losses
https://www.energyconnects.com/news/oil-and-gas/2022/july/shale-profits-finally-blossoming-after-decade-of-steep-losses/#:~:text=Shale%20Profits%20Finally%20Blossoming%20 After%20Decade%20of%20Steep,days%2C%20reversing%20 nearly%20a%20decade%20of%20debt-fueled%20losses.

https://www.energyconnects.com/media/r2zduik1/bloomburgmedia_rfn6rdt0g1kw01_31-07-2022_16-00-10_637948224000000000.png?width=1050

Whatever it takes :tu

[Winehole23]

1554457214290739206

[Winehole23]

French nuclear power shitting the bed


France has been delivering just a fraction of its energy production potential in recent months, and overnight the situation got worse when French power producer EDF announced another three power plants would curtail (https://www.theguardian.com/business/2022/aug/03/edf-to-reduce-nuclear-power-output-as-french-river-temperatures-rise) output because of rising temperatures. Rivers have become too hot in the latest heatwave to be used to cool the reactors.


The majority of France’s 56 nuclear reactors are currently throttled down or taken offline due to a combination of scheduled maintenance, erosion damage (worryingly, mostly at the newer plants of the ageing fleet) and cooling water shortages due to recurring heatwaves and droughts (https://www.theguardian.com/business/2022/aug/03/edf-to-reduce-nuclear-power-output-as-french-river-temperatures-rise).
The problems with nuclear have caused wholesale electricity prices – both spot and forward contracts – to soar in France because it has become a net importer rather than exporter. Northern Italy, another grid heavily dependent on French nuclear supplies, has also suffered badly, and has spilled over into other markets.
https://535485.smushcdn.com/698061/wp-content/uploads/2022/08/Europe-power-prices-860x500.jpg?lossy=1&strip=1&webp=1 (https://reneweconomy.com.au/wp-content/uploads/2022/08/Europe-power-prices-scaled.jpg)
https://reneweconomy.com.au/frances-troubled-nuclear-fleet-a-bigger-problem-for-europe-than-russia-gas/

[Winehole23]

“We could be facing a period of 10-20 years when France becomes structurally unable to produce its own electricity in full, and has to rely on imports from neighbouring countries, reversing the pattern of the past 30 years and straining the whole European power markets,” he writes.

[CosmicCowboy]

Rivers have become too hot in the latest heatwave to be used to cool the reactors

:lmao

[CosmicCowboy]

That is an incredibly stupid statement.

[Winehole23]

That is an incredibly stupid statement.How so? Is France shitting us? Engineering problems assume certain temperature tolerances, English power generation has had some recent temperature related problems too.

[CosmicCowboy]

How so? Is France shitting us? Engineering problems assume certain temperature tolerances, English power generation has had some recent temperature related problems too.

Its really pretty simple math. Nuclear power plants use heat exchangers between the water that cools the rods and the water used to cool that water. These heat exchangers are sized based upon the difference in temperature between the two (called the delta t ) and the flow. Everything is always engineered with a safety factor and in something as critical as this would be at least 50%. The flow is constant if the system is in operation. Water coming back from the rods is typically 600F while cooling water in the summer from a river would be what 80F? Let's be overly aggressive and say the heat wave raised the cooling water temperature to 100F. Thats. Delta change from 520F to 500F. Thats an increase of only 3.3% which would be well within any safety factor calculations.

The sentence was written specifically to insinuate global warming was making the nuke plants inoperable

Later (way in the bottom of the article) in the srticle it contradicted the original statement and said water SHORTAGES were keeping some plants from operating. Thats a whole different issue with many competing factors.

[Winehole23]

Its really pretty simple math. Nuclear power plants use heat exchangers between the water that cools the rods and the water used to cool that water. These heat exchangers are sized based upon the difference in temperature between the two (called the delta t ) and the flow. Everything is always engineered with a safety factor and in something as critical as this would be at least 50%. The flow is constant if the system is in operation. Water coming back from the rods is typically 600F while cooling water in the summer from a river would be what 80F? Let's be overly aggressive and say the heat wave raised the cooling water temperature to 100F. Thats. Delta change from 520F to 500F. Thats an increase of only 3.3% which would be well within any safety factor calculations.

The sentence was written specifically to insinuate global warming was making the nuke plants inoperable

Later (way in the bottom of the article) in the srticle it contradicted the original statement and said water SHORTAGES were keeping some plants from operating. Thats a whole different issue with many competing factors.Perhaps you're right about the temperature of river water wrt nuclear power generation, what you're saying sounds reasonable. But it's hard to see how you can definitively rule out climate change as related to extreme temperatures and draught, and hence to the water shortage impacting French nuclear power, unless you're biased against the possibility.

Whatever one may think about particular weather events, on our current trajectory the earth will be hotter by the end of the century than it has been at any time in the last ~2.5 million years. By probability, it stands to reason we'll see a lot of extreme/unusual weather between now and then.

[Winehole23]

DOE applies gentle pressure to refiners on low domestic inventories

1563178679756558342

[BackHome]

It’s going to be interesting to see what happens to Germany/France/Italy this coming winter. If the War continues and they keep up the embargo on Russian Oil and Gas I don’t think their economy will be able to sustain itself and as they go so does most of Europe.

[Winehole23]

It’s going to be interesting to see what happens to Germany/France/Italy this coming winter. If the War continues and they keep up the embargo on Russian Oil and Gas I don’t think their economy will be able to sustain itself and as they go so does most of Europe.will be challenging, for sure

https://pbs.twimg.com/media/FbHWz9FVUAEJTDr?format=jpg&name=large

[Winehole23]

1563435834619047936

[DMC]

:lmao

But boats run ok in them :lol

[Winehole23]

But boats run ok in them :lolnot so for the Rhine and the Po, which European rivers did you have in mind?

https://www.cnbc.com/2022/07/05/italy-declared-a-state-of-emergency-because-of-drought-in-the-po-river.html

https://www.cnn.com/2022/08/12/economy/rhine-water-levels-german-economy-intl-hnk/index.html

[Winehole23]

https://www.reuters.com/world/europe/frances-river-loire-sets-new-lows-drought-dries-up-its-tributaries-2022-08-17/

[Winehole23]

Vienna

1564143648555634688

[DMC]

not so for the Rhine and the Po, which European rivers did you have in mind?

https://www.cnbc.com/2022/07/05/italy-declared-a-state-of-emergency-because-of-drought-in-the-po-river.html

https://www.cnn.com/2022/08/12/economy/rhine-water-levels-german-economy-intl-hnk/index.html

Not because the water is too hot, dillweed. Fight for that shadow of a w.

[Winehole23]

Not because the water is too hot, dillweed. Fight for that shadow of a w.I wasn't aware there was a dispute. Who's winning?

[Winehole23]

Oh, except of course about boats not running so great in certain civilizationally important European rivers because they're running dry in an historic drought/heatwave.

[Winehole23]

related to the river water being hot, n'est-ce pas?

[Winehole23]

Gazprom throttles gas to France, Germany upbeat on energy security:


German Chancellor Olaf Scholz said Tuesday that his country is well-prepared to tackle a possible energy shortage because of Russia's squeeze on European gas supplies, even as fears grow about the juggernaut of rising prices that will likely hit consumers across the continent this winter.


Scholz spoke at the start of a two-day government retreat, attended also by Spanish Prime Minister Pedro Sánchez, which will focus on the impacts of Russia’s invasion of Ukraine on the energy supply in Europe.

Scholz cited Germany's decisions to reactivate oil and coal-fired power plants, mandate the filling of natural gas storage facilities and lease floating liquefied natural gas terminals. A decision on extending the operating life of Germany's three remaining nuclear power plants is also expected soon.


“All of this and many further measures have contributed to us being in a much better situation as far as supply security is concerned than could have been foreseen a couple of months ago,” Scholz told reporters at the government’s guest house in Meseberg, north of Berlin.

https://www.wral.com/germany-upbeat-on-energy-security-russia-cuts-gas-to-france/20438804/

[Winehole23]

EU price caps coming?

(Price caps are already in place for Spain and Portugal.)


Tinne Van der Straeten said gas prices should be frozen and not used to dictate the price of electricity.

EU states have been struggling with huge energy price hikes since key gas supplier Russia invaded Ukraine in February, triggering sanctions.

Countries backing Ukraine are trying to cut imports of Russian gas and oil.

Russia, which supplied the EU with 40% of its gas last year, has in turn restricted supplies.

As well as gas, electricity prices have reached record highs.

Natural gas is still widely used to generate electricity. Because gas prices have risen, this costs more.

Significantly, this price is used when buying electricity wholesale even when it comes from much cheaper renewable resources.

"We have to stop this madness that is happening right now on energy markets," Austria's Chancellor Karl Nehammer said.

"We cannot let [Russian President Vladimir] Putin determine the European electricity price every day," he added.

EU Commission President Ursula von der Leyen also criticised the method used to price electricity being sold on the EU market.

Speaking to reporters in Slovenia, she said the bloc was preparing "structural" emergency reforms that would tackle high costs - but did not give further details.


https://www.bbc.com/news/world-europe-62710522

[DMC]

I wasn't aware there was a dispute. Who's winning?

Maybe don't quote me and respond as if you were aware.

[DMC]

WH shows over and over that he rarely even reads the shit he posts. When called out on the veracity of a claim in a linked article, he flips like a cockroach.

[Winehole23]

Maybe don't quote me and respond as if you were aware.I'll file that recommendation with the rest of your free advice, thanks.

[Winehole23]

WH shows over and over that he rarely even reads the shit he posts. When called out on the veracity of a claim in a linked article, he flips like a cockroach.what claim?

what flip out?

you're trippin, dude.

[Winehole23]

1564285790858928129

[CosmicCowboy]

EU price caps coming?

(Price caps are already in place for Spain and Portugal.)

https://www.bbc.com/news/world-europe-62710522

Seems like attempting to cap local prices on a global commodity would just lead to more shortages.

[Winehole23]

Seems like attempting to cap local prices on a global commodity would just lead to more shortages.short term, they're aiming to keep people from freezing this fall and winter.

if I've understood correctly, the EU will be considering delinking commodity prices from the price of electricity to consumers, hitting power plants instead of oil and gas producers. not sure how'd they'd pull that off without propping up domestic energy companies, but it might not lead to shortages. market is bound to be distorted somehow, we'll see.

[Winehole23]

US to return to JPCOA deal?


Oil tumbled as much as $6 a barrel on Tuesday, with global crude benchmark Brent falling beneath key $100 pricing, after a pro-Tehran television station out of London reported that Iran and the United States have reached a deal to revive a nuclear deal that could legitimately put the Islamic Republic’s oil back on the export market.


“Iran and the US have reached an agreement (on revival of JCPOA), and it will be announced in the next two or three weeks," a former IAEA official told Iran International, according to a news alert monitored by Investing.com.


Brent (https://www.investing.com/commodities/brent-oil) crude, the London-traded global benchmark for oil, was down $5.69 to $97.24 per barrel by 12:40 ET (16:40 GMT), after falling more than $6 earlier to a session low of $96.64.


New York-traded West Texas Intermediate crude (https://www.investing.com/commodities/crude-oil), the benchmark for US crude, was down $5.97 to $92.11 per barrel after a session low at $90.56.
https://www.investing.com/news/commodities-news/oil-tumbles-6-as-iran-tv-says-revival-of-nuclear-deal-agreed-2882738

[DMC]

what claim?

what flip out?

you're trippin, dude.

Exactly, you post shit so much you have zero idea what you're even posting or discussing and you've been busted on it countless times already.

[Winehole23]

Exactly, you post shit so much you have zero idea what you're even posting or discussing and you've been busted on it countless times already.Sometimes it's like you're talking to yourself, man. I have no idea what you're talking about.

Something topical, or is it all about me?

:lol

[Winehole23]

Sometimes it's like you're talking to yourself, man

welcome to the club

[Winehole23]

Officials in the Biden administration are signaling the plan to cap Russian oil prices could backfire, according to a report from Bloomberg (https://www.bloomberg.com/news/articles/2022-10-13/biden-team-s-russia-oil-price-cap-may-fail-after-opec-cut-officials-fear).


OPEC+'s cut to its production quota last week could end up undermining the effort to cap prices, sources told Bloomberg. The cartel's move has already added to volatility in markets, and a price cap on Russian oil could trigger a spike in crude, they said.


Officials also noted concern that Russian President Vladimir Putin could retaliate by slashing more supplies, sending prices higher. Putin has already signaled that the Kremlin will not sell oil to countries that participate in the price cap effort.
https://news.yahoo.com/biden-administration-officials-worried-opec-142047988.html

[Winehole23]

1580589391109828610

[Winehole23]

diesel crunch


Global diesel and other distillate fuel stocks have been on the decline for a while now, and there is no reversal of this trend in sight. Demand, on the other hand, has been growing, leading to a widening shortage.

The situation has become so grave that U.S. buyers have begun snapping up diesel cargos originally sailing for Europe.
Reuters reported (https://www.reuters.com/business/energy/traders-divert-europe-bound-diesel-us-race-re-stock-2022-10-14/) earlier this month that at least three tankers carrying diesel from the Middle East had changed their course mid-journey and were now traveling to the United States. And this new competition is about to intensify.

The foundation of the shortage is the gap between refining capacity and fuel demand. The pandemic saw a lot of refineries close, especially in the United States. It wasn’t just the pandemic itself—the anticipation of a boom in demand for EVs that would render a lot of refining capacity obsolete also had a part to play, as Reuters’ John Kemp noted (https://www.reuters.com/markets/asia/diesels-gloomy-message-global-economy-kemp-2022-10-14/) in a column last week.

This boom has yet to materialize, however. In the meantime, fuel demand remains robust, resulting in a shortage. In Europe, there have been contributing (https://oilprice.com/Energy/Energy-General/Europes-Diesel-Crisis-Is-Far-From-Over.html) factors, such as the French refinery workers’ strike, which has made the shortage much worse than it would have been otherwise, and the upcoming planned maintenance-related refinery closures
Europe is currently buying a lot of Russian diesel to fill the gap, but this will have to stop next February as the embargo on Russian fuels kicks in, further aggravating an already complicated situation with the supply of middle distillates in a major consuming region

Argus reported (https://www.argusmedia.com/en/news/2381339-europe-is-running-low-on-diesel-when-it-needs-it-most) this week that Europe is in for a major diesel supply shock because of low inventories and strong demand. And the level of inventories had a lot to do with the unplanned outages at European refineries before maintenance season, including the four-week drop in French fuel output amid the workers’ strike.

On top of that, the article quoted traders as saying there has been little incentive to build diesel inventories in the current market situation: diesel is strongly backwardated right now, so from the perspective of refiners and commodity traders, there is little sense in stockpiling.


In the United States, meanwhile, distillate stocks have fallen to 106 million barrels, which is the lowest since records of these stocks began back in 1982, Reuters’ Kemp reported. Europe is doing a little better, with distillate stocks at 360 million barrels at the end of September, the lowest seasonal since 2007.

The U.S. has been exporting a lot of diesel to troubled Europe, but now things are changing, and not just because cargoes are being diverted from Europe to the U.S. coast. Refiners in the United States are bracing (https://oilprice.com/Energy/Crude-Oil/US-Refiners-Are-Preparing-For-A-Potential-Fuel-Export-Ban.html) for a possible ban on fuel exports.

Floated earlier this year by the White House, the idea of banning fuel exports to secure supply for the local market prompted the CEO of the American Petroleum Institute and the head of the American Fuel and Petrochemical Manufacturers to warn against such a move.

A ban on exports could “decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices, and alienate U.S. allies during a time of war,” Mike Sommers from the API and Chet Thompson of the AFPM wrote (https://www.hellenicshippingnews.com/u-s-oil-refiners-see-gasoline-diesel-exports-threatened-amid-government-price-concerns/) to Energy Secretary Jennifer Granholm.

Yet right now, U.S. buyers are snapping up diesel cargos from Europe in a way similar to how Europe has been snapping up LNG cargos originally meant for Asian destinations. And supply is not going up fast enough because there is not enough refining capacity for it to go up fast enough or even meaningfully enough. And this spells a lot more trouble for both Europe and the U.S., especially in the inflation department.
https://oilprice.com/Energy/Crude-Oil/Diesel-Crisis-Deepens-As-Inventories-Fall-To-Dangerous-Levels.html

[Winehole23]

Heating oil reserves are backed up by LNG.

1582480898871607298

[boutons_deux]

The planet has been owned and operated by BigCorp, the Wealthy Class, operated into a shithole of environmental, economic disaster.

[Winehole23]

"Allocation" of heating oil has already started in New England.

1583675269466161158

[Winehole23]

German industry is buckling under high energy costs. Coming US industrial subsidies under the Inflation Reduction Act are already sharpening economic and political concerns in the EU.


One in four German companies is considering moving production to other countries amid the energy crisis, Tanja Gönner, CEO of the Federation of German Industries (BDI), told Die Welt am Sonntag news outlet.


“The high energy prices and the weakening economy are hitting the German economy with full force and are placing a great burden on our companies compared to other international locations. The German business model is under enormous stress…Every fourth German company is thinking about relocating production abroad,” Gönner stated.


Germany’s energy-intensive chemical industry is particularly affected by the crisis, Wolfgang Grosse Entrup, CEO of the German chemical industry association (VCI), told the news outlet.


“The brutal energy prices are knocking us out…Without a functioning price brake, the government is willfully accepting deindustrialization,” he warned, adding that if the chemical industry fails, other industries will follow, which “could be the knockout for Germany as a business location.”
https://thepressunited.com/updates/germany-at-risk-of-mass-exodus-of-companies-bdi/

[Winehole23]

Another very opportune warm weather spell.

1610279487987408898