Reply With Quote
Commiserating with KW, huh? You're kind of his level now so its cool he has a compadre and friends considering how sad his life is
You were the guy pointing out this wasn't Biden's fault in another thread when you broke character for two seconds
Commiserating with KW, huh? You're kind of his level now so its cool he has a compadre and friends considering how sad his life is
(fighting for the underderp)
Seemed like a fair warning. Pretty sure Kori Ellis doesn't want the SS snooping around these forums and bring heat down on the site owners.
You still have a job? You seem upset.
What's happening in the oil patch is years in the making. Biden is POTUS tho.
"It's not my fault" rarely works in politics.
Besides, I'm not sure I buy the $100+ oil idea. Theoretically possible but then again pumpers pump.
Nissan Lays Out $17.6 Billion Plan To Electrify Its Future
Nissan has announced plans to spend around $17.6 billion over the next five years to accelerate the roll-out of electric vehicles. "And to emphasize that point, Nissan unveiled a pack of delightful EV concepts, including an adorable pickup truck, an outdoorsy SUV, and a sleek sports car," reports The Verge. From the report: Nissan said it will produce 23 new electrified models by 2030, 15 of which will be fully electric. The company is targeting a 50 percent electrification mix for its Nissan and Infiniti brands by the end of the decade. In the US, Nissan plans to take things a little slower, only targeting 40 percent of its sales to be EVs by 2040. On batteries, Nissan is pursuing what it calls "all-solid-state batteries (ASSB)" by 2028. The company is preparing a "pilot plant" in Yokohama, Japan, for early 2024. Solid-state batteries could theoretically charge faster, hold more power, and last longer than traditional lithium-ion batteries, which use liquid electrolytes to move energy around. While solid-state batteries have eluded researchers for years, some companies claim that a breakthrough is nearly at hand.
Nissan says that solid-state batteries will help make EVs more affordable by reducing the price of battery packs down to $75 per kWh by 2028. The company aims to bring it further down to $65 per kWh to achieve cost parity between EV and gasoline vehicles in the future. To underline its commitment to an electric future, Nissan revealed a handful of EV concepts: a small pickup truck called Surf-Out; a boxy crossover called Hang-Out; a compact SUV called Chill-Out; and a convertible sports car called Max-Out. [...] It's an impressive commitment, but Nissan notably stopped short of making the same promise that other automakers have to phase out the production of gas-powered vehicles. For example, Volvo and General Motors have vowed to become EV-only companies by 2030 and 2040, respectively.
Elon Musk - "hold my beer"
Poor quality and unsafe, tbh
Because of the reckless left wing keynesian government spending bull over the past 2 years causing the massive inflation that shouldn't have existed in the first place to "adjust for".
Hopefully getting rid of the dems in all except the very most blue areas/states and appreciating the value of my hybrid camry even as the years go by
"supply and demand" doesn't exist anymore in Trump nomics.
Boomers
I remember filling up my car with $5 and getting a free set of dishes
Place your bet
On his dime? Bull .
Same estimate from gas buddy has a sharp drop after the summer going towards the end of 2022.
Those estimates must be from high priced gas stations off highway or downtown areas (where they overcharge, bigly) as it is $2.85 at local Costco here in VA.
The prices for Sacramento have lowered a good 30 cents or so per since this recent quote.
Most other sources I've seen have gas prices peaking about 50 cents less than gasbuddy's estimates tbh.
My understanding is that it’s a projection based on the typical increased demand during the summer months, based on current prices. I don’t think the model assumes govt intervention, now or in the summer, so while it’s useful in otherwise normal times, it might be a bit skewed now.
https://oilprice.com/Energy/Oil-Pric...r-In-2022.htmlLong-suffering Americans grappling with runaway inflation are finally enjoying some reprieve. After a relentless climb, prices at the pump have been heading south, with national average gas prices tumbling to a 10-week low of $3.28 a gallon, according to AAA. Fuel prices started leveling out after President Joe Biden announced on November 23 the biggest-ever release from the Strategic Petroleum Reserve, though experts have dismissed it as a mere band-aid. Whereas many people have placed the blame for high gas prices on the Biden administration, the real culprit has more to do with Wall Street than Pennsylvania Avenue.
The genesis of today’s high gas prices can be traced back to financial pressure on oil companies from a decade of devastating losses and poor shareholder returns that have forced them to dramatically alter their business models. For years, Wall Street has pressured oil and gas companies to cut capex, and shift their cash to financial goals like boosting dividends and buybacks, paying down debt, as well as decarbonization, after the fracking revolution left the U.S. shale patch bleeding cash and deeply indebted.
Consequently, investment in new wells has crashed 60% since its peak in 2014, causing U.S. crude oil production to plummet by more than 3 million barrels a day, or nearly 25%, just as the Covid virus hit, and then failed to recover with the economy.
According to the IEA, crude consumption is expected to improve to 99.53 million barrels per day (bpd), up from 96.2 million bpd this year, leaving it just a hair short of 2019's daily consumption of 99.55 million barrels. That will, of course, depend on the world bringing the new Omicron variant of Covid-19 quickly under control.
Higher oil demand will put pressure on both OPEC and the U.S. shale industry to meet demand. But let's not forget that numerous OPEC nations have already been struggling to add to output, while the U.S. shale industry has to deal with investor demands to hold the line on spending. So far, the U.S. shale industry has not responded to higher oil prices as they had done previously, with overall U.S. production averaged 11.2 million bpd in 2021 compared with a record of nearly 13 million bpd in late 2019. U.S. production is expected to only increase by 700,000 b/d in 2022 to 11.9 b/d, according to Rystad Energy's senior vice-president of analysis, Claudio Galimberti.
Canada, Norway, Guyana, and Brazil could try to bridge the supply-demand gap, but several Wall Street punters are betting it will not be enough and oil prices will remain elevated.
In fact, Barclays has predicted that the WTI contract price will increase from the current rate of $73 to an average price of $77 in 2022, noting that the Biden administration's sale of oil from the Strategic Petroleum Reserve isn't a sustainable way to bring down prices. Barclays says prices could go even higher than that forecast if COVID-19 outbreaks are minimized and thus allow demand to grow more than expected.
Goldman Sachs shares that bullish outlook and has predicted a Brent price of $85 per barrel by 2023 compared to the current $76.30.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
