Sadly you are correct , and sadly most east of the lake head have no clue .
Oil is Dead
- Thread starter mentalfloss
- Start date
Pipeline Project Losses Raise Questions About Industry's Future
The setbacks for the oil and gas industry come during a time when its future is increasingly unclear due to the coronavirus pandemic and public pressure over climate change.
https://www.usnews.com/news/nationa...losses-raise-questions-about-industrys-future
"We are in the midst of an energy shift," Hammond says. "Watching the energy companies navigate that shift, the ones who may survive, I think, are the ones that view the future as one of renewable energy and energy solutions as opposed to relying on fossil fuels simply as long as they can."
Hammond believes the projects need to also answer calls for environmental and social justice as well as corporate accountability.
"It's not just that the oil and gas industry is vulnerable to a pandemic," Hammond says. "It's that a pandemic might have been the final straw, given its other vulnerabilities on the bases of justice and accountability."
The setbacks for the oil and gas industry come during a time when its future is increasingly unclear due to the coronavirus pandemic and public pressure over climate change.
https://www.usnews.com/news/nationa...losses-raise-questions-about-industrys-future
"We are in the midst of an energy shift," Hammond says. "Watching the energy companies navigate that shift, the ones who may survive, I think, are the ones that view the future as one of renewable energy and energy solutions as opposed to relying on fossil fuels simply as long as they can."
Hammond believes the projects need to also answer calls for environmental and social justice as well as corporate accountability.
"It's not just that the oil and gas industry is vulnerable to a pandemic," Hammond says. "It's that a pandemic might have been the final straw, given its other vulnerabilities on the bases of justice and accountability."
Shifted eh? Big oil wanting to be Big Energy is surprising? Not really. What is surprising is people like Hymie and Flossy cheering it on.
Crude Oil Shortages Beginning To Bite In Key Markets
The coronavirus pandemic has caused global oil demand to fall off a cliff, with U.S. consumption falling to levels last seen nearly four decades ago. With global oil production at record highs, supply quickly overwhelmed demand leading to an acute storage crunch that triggered the historic oil price crash into negative territory.
Oil prices have recovered ever since but remain a long way off the $60/bbl level they were trading at last December. The current oil price of ~$40/bbl could be around the breakeven that Russia needs to balance its books but far from satisfactory for Saudi Arabia, which needs ~80/bbl or majority of U.S. shale producers who need $50-$55 per barrel to break even.
https://oilprice.com/Energy/Crude-Oil/Crude-Oil-Shortages-Beginning-To-Bite-In-Key-Markets.amp.html
The coronavirus pandemic has caused global oil demand to fall off a cliff, with U.S. consumption falling to levels last seen nearly four decades ago. With global oil production at record highs, supply quickly overwhelmed demand leading to an acute storage crunch that triggered the historic oil price crash into negative territory.
Oil prices have recovered ever since but remain a long way off the $60/bbl level they were trading at last December. The current oil price of ~$40/bbl could be around the breakeven that Russia needs to balance its books but far from satisfactory for Saudi Arabia, which needs ~80/bbl or majority of U.S. shale producers who need $50-$55 per barrel to break even.
https://oilprice.com/Energy/Crude-Oil/Crude-Oil-Shortages-Beginning-To-Bite-In-Key-Markets.amp.html
Weren't you the guy that claimed oil is dead? Now you say there is a shortage.
If the east votes turdOWE in again there will be significant growth in western separation.
He saying conventional oil jackpumps arent pumping fast enough. This will spark a drilling boom.
A while back flossy was claiming that oil was dead and now replaced by unicorn farts and solar wind powered cars.
The west has the East by the balls when it comes to Green Energy.
We have the sun, wind, water and isotopes to export terrawatts.
IMO we need to be serious about separation to get a real seat at the National table
True if Alberta and Saskatchewan turn there backs on Peter MacKay and his red Conservative party and elect a passel of separatists we may see some movement . Imagine that two separatist parties holding the balance of power in a minority parliament.
The Oil Bulls Betting On $150 Crude
By Tsvetana Paraskova - Jul 10, 2020, 9:00 AM CDT
Analysts are basically divided into two camps – the ones predicting high oil prices because of the pandemic and the resulting severe underinvestment in new oilfields, and the ones saying that life in the new normal will mean that demand may never return to pre-COVID-19 levels.
In the bulls’ camp, Trevor Woods, chief investment officer of Ohio-based hedge fund Northern Trace Capital, told the Journal:
“We could hit $150 pretty easily by 2025.”
Woods motivated his prediction with upcoming massive pressure on producers for funding new developments.
Christyan Malek, JP Morgan’s head of oil and gas research for Europe, the Middle East, and Africa, also thinks that oil could hit $100 per barrel, due to the dramatic decline in investments.
According to the International Energy Agency (IEA), the oil and gas sector will see the steepest decline in investment this year compared to last year. Investment in oil and gas is set to plunge by $244.1 billion, or by nearly one-third, in 2020 compared to 2019.
“Could we see oil move to $100 over the next two years?” “Absolutely,” JP Morgan’s Malek told the Journal, reiterating a similar bullish estimate from last month.
Citigroup, however, doesn’t believe that crude oil prices will return to three-digit levels ever again.
The idea of oil at $100 or higher, “has far more fantasy than reality at its heart,” Citigroup commodity analysts said in a note earlier this month, adding that over the long term, $45 per barrel of Brent was a far more likely oil price scenario than $60 a barrel.
In more pessimistic news, the Citi analysts said, “Oil product demand growth will falter significantly, change its contours and never return to pre-covid-19 rates of growth.”
By Tsvetana Paraskova for Oilprice.com
By Tsvetana Paraskova - Jul 10, 2020, 9:00 AM CDT
Analysts are basically divided into two camps – the ones predicting high oil prices because of the pandemic and the resulting severe underinvestment in new oilfields, and the ones saying that life in the new normal will mean that demand may never return to pre-COVID-19 levels.
In the bulls’ camp, Trevor Woods, chief investment officer of Ohio-based hedge fund Northern Trace Capital, told the Journal:
“We could hit $150 pretty easily by 2025.”
Woods motivated his prediction with upcoming massive pressure on producers for funding new developments.
Christyan Malek, JP Morgan’s head of oil and gas research for Europe, the Middle East, and Africa, also thinks that oil could hit $100 per barrel, due to the dramatic decline in investments.
According to the International Energy Agency (IEA), the oil and gas sector will see the steepest decline in investment this year compared to last year. Investment in oil and gas is set to plunge by $244.1 billion, or by nearly one-third, in 2020 compared to 2019.
“Could we see oil move to $100 over the next two years?” “Absolutely,” JP Morgan’s Malek told the Journal, reiterating a similar bullish estimate from last month.
Citigroup, however, doesn’t believe that crude oil prices will return to three-digit levels ever again.
The idea of oil at $100 or higher, “has far more fantasy than reality at its heart,” Citigroup commodity analysts said in a note earlier this month, adding that over the long term, $45 per barrel of Brent was a far more likely oil price scenario than $60 a barrel.
In more pessimistic news, the Citi analysts said, “Oil product demand growth will falter significantly, change its contours and never return to pre-covid-19 rates of growth.”
By Tsvetana Paraskova for Oilprice.com
The stock market for renewables is higher than for fossil fuels.
Where there is hope, there is money.
Where there is hope, there is money.
It's future in Canada is in doubt because of asswipes like you. Yep, the oil industry is pretty much dead. Which is why Norway issued 68 oil exploration licences this year with at least 1/3 of them having licence to begin drilling if/when they find a pocket. They also just recently announced it will be exploring the Arctic for oil deposits. Yep, sounds like a real dead industry.
I also like how you've waffled on about the price of Western Select signifying that it's so low because no one wants it. Wrong. It's because we can't get it to f*cking market effectively or efficiently. THAT is what has kept the price down on it. Not a lack of demand but a lack of transport capacity because stupid little f*ckweeds like you would rather see Norway, the UK, the US, Mexico, Russia and all the Mid-east oil producers supplying the world.
Hammond is clearly a moron like the rest of the leftards in the West who seem to be under the f*cked up impression that oil is only used for power generation and making cars go "zoom". Who else but a f*ck-witted leftard could whine about justice and accountability in the oil industry while ignoring the massive damage the so-called Gree" movement is already causing, with no justice for those negatively affected and no accountability for those causing it.
500,000 gallons. That's how much water it takes to make 1 measly ton of lithium. Figure that your typical EV requires around 100 lbs of lithium carbonate. So, doing the math it takes 500,000 gallons of water to make enough lithium for 20 EVs. Now, considering there's supposed to be a global water shortage that is supposed to be getting worse, do you really think 500,000 gallons of water is a good investment to make just 20 cars? Are you fine with the farmers downstream of the South American lithium mines having their farmland turn to dust because all that water is needed for your stupid f*cking little green dream?
You stupid c*nts are no different than the capitalists you whine about. Destruction of the 3rd world because you want stuff.