Lebanon, Iraq, Iran call out Israel's 'declaration of war' after it bombs 3 COUNTRIES in one weekend -- https://www.rt.com/news/467354-israe...non-iraq-iran/ - Bibi's back!
Just faidin away!
Lebanon, Iraq, Iran call out Israel's 'declaration of war' after it bombs 3 COUNTRIES in one weekend -
Anarchic Wild Child
Oh yeah right - that's why rocket man is testing again ..Originally Posted by austingtir
And you'd be third behind husaberk and laava to get a "free" helicopter ride.
Feeling a little threatened are you? A little agitated ? Pushed too many of you buttons did I?
Sheesh - little willie - harden up (or sorry - not worth it )
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
L-Plate Rider
^^
Theres a big difference between testing nukes and firing off the odd rocket.
Every well established country on the planet tests rockets (if they are smart enough). Which NK imo isnt. Which begs the question where did they get their rocket and nuke tech from? (hint: Sneaky Bill Clinton and co had a hand in that!)
And thats just kims annual response to the USA and South koreas annual war games....
Just more msm brainwashing that you've been eating up.
Anarchic Wild Child
Whose bullshit have you been brainwashed by little willie ?
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
Geriatric hoon
Some of the crap he comes out with is absolutely astounding. Im not going to ask where he gets it because I really dont want to know.
There is a grey blur, and a green blur. I try to stay on the grey one. - Joey Dunlop
L-Plate Rider
^^ We all know where you get your crap from. FAKE NEWS!!!
Anyway now that we have grownups running the show in the USA they are about to give a lesson in how to control Russia and every other tinpot dictatorship around the world.
The US is about to send a lot more oil into an already oversupplied world market
The U.S. is about to boost its status as a major oil exporter.
New pipelines are coming online to transport oil from a bottleneck in the Permian Basin to the Gulf Coast where it can be shipped to the world.
The U.S. is turning the Gulf Coast into a major export hub, and that could one day make U.S. crude an international benchmark, according to Citigroup’s Ed Morse.
Citigroup says U.S. oil exports of 3 million barrels a day could grow by a million barrels a day this year and another million next year.
The oil market is already struggling with too much supply, and the U.S. is about to flood the world with a lot more.
In the last decade, the U.S. has more than doubled oil production to 12.3 million barrels a day, making it the world’s largest producer. But the infrastructure needed to transport that crude out of Texas oil fields and onto the world market has been lacking.
This month marks a big change for the industry with the start of the Plains All American Pipeline’s Cactus II, a 670,000 barrel a day pipeline, connecting the Permian Basin to Corpus Christi, Texas, and from there to the world. That pipeline, and another, named Epic, are just the start, with more to follow.
The new pipelines are expected to take more Texas crude to the Gulf Coast, and from there it can be shipped out to the world, but the world is now well supplied, and even more U.S. oil could help depress prices, especially if the trade wars continue to suppress demand.
According to Citigroup, the new pipelines could help grow U.S. oil exports from the current 3 million barrels a day by 1 million barrels more by year-end and another million barrels next year. Exports have already grown by an average 970,00 barrels a day this year over last year, according to Citigroup.
“It will be 4 million barrels a day by six or eight months. Four million barrels a day is a lot bigger than the North Sea as a whole. That crude oil is going to go everywhere. It goes to Asia, Europe, to India,” said Edward Morse, Citigroup global head of commodities research. “If the U.S. gets to 6 million barrels a day in three years, it will be hands-down the world benchmark.”
The surge in pipeline capacity will help unlock a bottleneck of oil in the Permian Basin, which Citi has forecast could double its production to about 8 million barrels a day by 2023.
As the pipelines are being built, there will be a need for increased export capacity. Shipping facilities are being expanded all along the Gulf Coast, in Texas and in Louisiana. The U.S. will soon have the export capacity for 6 million barrels a day, and even more is planned, according to Citi.
“Until now, it’s been an issue of getting oil from the Permian down to the Gulf Coast. Now it’s going to be getting out of the Gulf Coast to the world market,” said Francisco Blanch, head of Bank of America commodities and derivatives research. “The ability to move all that oil is going to improve over the course of the next 18 months.”
New world order?
All of this new oil creates a dilemma for OPEC. Saudi Arabia, de facto leader of OPEC, and its partner Russia, have cut back on oil production to help stabilize prices. Even with the loss of much of Venezuela’s oil and 2 million barrels a day from Iran, there is plenty of oil with U.S. oil production growing at more than 1 million barrels a day this year and demand growing at about the same pace.
“OPEC has lost 1% of market share per annum, every year for the last seven years,” said Blanch.
Oil prices have been range bound, with West Texas Intermediate crude futures well off the one-year high from October of $75 per barrel. The price fell to a low of $42 on Christmas Eve, as risk markets sold off, and has been in the mid-$50s lately. Brent futures, the international benchmark, has traded on both sides of $60 per barrel this month.
While OPEC has intentionally curbed production, simple economics have contained U.S. production growth, which has been flattish in recent weeks, after rising from 11 million barrels a day a year ago.
“Obviously, companies are cutting back. They’re cutting back in terms of investment and activity. You see the rig count coming down. You still see production efficiencies driving growth, but you’ll have a slower rate of sequential growth from here,” said Blanch. He noted that U.S. rig count was down 12% from year-ago levels at the middle of August.
Morse said he expects Russia and OPEC to stay together, and an economic slowdown would encourage them to continue their partnership.
“A recession scenario makes it easier for them to believe in what they’ve been saying,” he said, noting the producers have held oil from the market to stabilize supplies.
When demand drops, prices fall and U.S. producers would no longer find it makes economic sense to pump as much oil. An economic downturn would only slow the trend, not stop it.
“We agree there’s going to be an overabundance for the next two to three years. We see prices being challenged for the next two to three years. We see Brent in the low $50s, and WTI in the high $40s, which is not an environment where there’s going to be much as much reinvestment, as there is,” Morse said. “We’ll have to modify our expectations for production growth, given the increased likelihood that global GDP is going to be low and even without a recession, demand will be lower.”
52.9% of Russian exports are mineral fuels including oil. 82% of Irans exports is crude petroleum.
USA is going to crush one big economic competitor with tariffs, and some others by flooding the market that they get most of there income.
4D Chess once again boyos.
And what would be cheap gas for my v8 if it wasnt for Comrade Jacinda and co..... And where are all these halfwits that were telling us the world was going to run out of oil???
Anarchic Wild Child
Probably get cheaper petrol - soemthign else wousd rise to off set the income lost through lower petrol taxes ..
You don't seriously believe there is an unlimited supply of oil in the ground do you?And where are all these halfwits that were telling us the world was going to run out of oil???
Yeah - I'll bet you do little willie ..
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
L-Plate Rider
Did I say theres an unlimited supply?
The Saudi's alone have got hundreds of trillions of barrels of oil (more than enough to last until your grandchildren's grandchildren are dead) Dan Pena knows ("running out of oil is 100% BULLSHIT!!")
Hardcore Biker
Next time, would you just post the link (or acknowledge the source):
https://www.cnbc.com/2019/08/27/the-...ed-market.html
Thanks.
Hardcore Biker
Well, dare I say it, but that comment may have a degree of truth. Not
unlimited, but certainly much more than earlier believed.
Peak Oil Theory
Back in the 1950's, Hubbert proposed a theory of "Peak Oil" - which was
subsequently disputed by Russian geologists (see abiotic or abiogenic
oil source in the following links):
http://www.williamengdahl.com/englishNEO31Dec2018.php
https://principia-scientific.org/rus...k-co2-science/
So the abundance of oil is likely much greater than was earlier believed.
That said, it does not mean that it is physically accessible or economically
retrievable.
Discovery of New Oil and Gas Sources
As expected, new oil and gas reserves are being discovered on an ongoing
basis.
An example is shale gas, which once extracted can be equated with natural
gas (in terms of processing and local distribution). Export would typically
require liquefication followed by re-gasification after receipt in-market.
while the discovery of shale gas within the US has led to the situation
where the US may now have the largest gas reserves, the shale gas life
cycle will still be subject to factors such as:
- the need to continually drill new wells (because of rapid gas depletion)
and hence the need for continual capital investment;
- the issue of fracking and its environmental side-effects (water pollution;
earth quakes; methane emissions), plus the need for an abundant supply
of ground water in drilling areas;
- cost of transport to and reticulation of product within intended markets;
- being able to realise an adequate price and ROI (in light of a potential
over-supply in a world market);
- other factors such as trade wars and sanctions.
https://oilprice.com/Energy/Energy-G...n-Success.html
https://www.checkpointasia.net/china...eecaps-us-lng/
So, having large reserves is one thing. Getting a refined product to market
and realising a decent price (and profit) is another.
[Edit]
https://www.checkpointasia.net/ukrai...e-for-its-gas/
Saudi Oil Reserves
Hundreds of trillions of barrels ? I'm not sure if Donald said that, but maybe
a little optimistic:
https://en.wikipedia.org/wiki/Oil_re...n_Saudi_Arabia
L-Plate Rider
Time traveller trump on China and Climate Cult in 2012....
Rasta Ratskins
Only a Rat can win a Rat Race!
Rasta Ratskins
Only a Rat can win a Rat Race!
The Majestic Metal Wizard
And yet, He beat out Hilary. He got North Korea to the Negotiating table. He's not started any more shooting Wars. He repeatedly gets the extremist left to show their true color.s
Either the mans repeated success is the worlds biggest and longest lucky streak, Or there's more to him than appears.
Physics; Thou art a cruel, heartless Bitch-of-a-Mistress
Bogeyman
Yes, it is true that sometimes unusually intelligent and sensitive children can appear to be stupid. But stupid children can sometimes appear to be stupid as well. I think that's something you might have to consider.
― Douglas Adams, The Long Dark Tea-Time of the Soul
I miss Douglas Adams.
Go soothingly on the grease mud, as there lurks the skid demon
There are currently 2 users browsing this thread. (0 members and 2 guests)
Posting Permissions
Bookmarks