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Old 06-14-2017, 08:20 PM   #421
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More positive progress!

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Most of the 300 to 400 oil field workers found jobs installing solar panels beneath the hot and abundant West Texas sun.
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Old 06-14-2017, 08:23 PM   #422
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The US’s first new coal mine in years, heralded by president Donald Trump as a fulfillment of campaign promises, will employ 70 people.

That’s significantly fewer than the 92 jobs created by the opening of one American supermarket on average (based on 2015 numbers from industry groups and and the US Bureau of Labor Statistics).
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Old 06-15-2017, 09:49 AM   #423
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Bangladesh, the largest SHS market worldwide, now has more than 4 million units installed,” said the just released “Renewables 2017 Global Status Report”.
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The report observed that the cumbersome process of providing electricity access through grid extension alone is becoming obsolete, as new business models and technologies enables the development of off-grid markets.

The 4 million units installed in Bangladesh so far have all taken place in areas beyond the reach of the national grid.
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Old 06-15-2017, 01:10 PM   #424
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For those that haven't seen this, thought I would share again. It's 3 years old, but is still relevant today. We must do all that we can to switch to renewables, I hope this will inspire you.

Do the Math - The Movie

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Old 06-16-2017, 03:29 PM   #425
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Another article that quite nicely summarizes different areas and puts it all in one place. The article makes a good point about how value destruction precedes quantity destruction.

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The costs of electric self-driving cars will be so low, it will be cheaper to hail a ride than to drive the car you already own.
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Old 06-16-2017, 03:51 PM   #426
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Members of the congressional committee responsible for the Environmental Protection Agency's budget—Republican and Democrat alike—made clear Thursday they have no intention of approving the White House's proposal to slash the agency's spending.
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Old 06-18-2017, 08:38 PM   #427
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Interesting that someone like Wells Fargo is seeing roughly the same thing....

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$100 per barrel oil remains a pipe dream” due to “massive overproduction,” real estate strategist John LaForge said in a note this week. Barrels price will bounce between $30 and $60 in the coming years, according to top bank’s diagnosis.

At the $40-$50 price range, crude prices will likely crater, LeForge said, “but [oil producers] are having a hard time restraining themselves from producing.
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Old 06-19-2017, 12:15 AM   #428
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Great segment about coal on John Oliver last night.

Fuck you, Bob Murray!
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Old 06-19-2017, 08:26 AM   #429
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Originally Posted by gweeps View Post
Great segment about coal on John Oliver last night.

Fuck you, Bob Murray!
That was great! Thanks for the heads-up.

For those that don't want to have to search for it:

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Old 06-19-2017, 08:37 AM   #430
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To piggy back off the John segment:

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The utility figured it could have saved $38.5 million last year buying power on the open market rather than expensive electricity generated by coal from Navajo Generating Station.
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We are surrounded by utilities abandoning coal faster than rats escaping the Titanic. In Colorado, Xcel Energy has dropped its coal portfolio by half in the last decade. In Arizona, Colorado and New Mexico, all the big utilities are fleeing coal.
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Old 06-20-2017, 08:03 PM   #431
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Another bank.......

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Like BofA, Fereidun Fesharaki, chairman of oil and gas consultancy FGE, on Monday said that oil prices could plunge to US$30 a barrel in 2018 and maintain that low price for some two years, if OPEC fails to make steeper output cuts.

Oil prices are “most definitely” heading to US$40 and are likely to slip into the upper US$30s, John Kilduff, founding partner at energy hedge fund Again Capital, told CNBC’s Squawk Box on Tuesday.
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Old 06-20-2017, 08:10 PM   #432
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If we and others are pumping at a fast rate right now and demand has been falling this year, what do you think is about to happen starting the last half of this year when Tesla starts cranking out the cheaper Model 3?

What happens next year when they produce at least 500,000 EVs and a million by 2020? And then there's all the other auto companies getting into the EV game around 2020-2022.....

What happens to the value of all the oil reserves.........think.about.it.....

Oil industry....bye-bye.....

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U.S. refineries are producing record levels of product, even as U.S. demand for gasoline sinks and stockpiles build.
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“We’re refining a whole lot more and there aren’t as many mouths to feed because demand isn’t as strong this year.”
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Old 06-21-2017, 03:31 PM   #433
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Old 06-23-2017, 02:02 AM   #434
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Fuck you, Bob Murray!

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Old 06-28-2017, 01:57 PM   #435
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Interesting development from the oil company Statoil:

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This ‘dual-peaking’ also occurs in Statoil’s latest run of the Reform scenario – coal demand peaks in 2020 while oil demand follows sometime in the 2020s.
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The shift in perspective with regards to oil demand appears to be largely down to electric vehicles (EVs). The Reform scenario models the impact if EVs achieve cost-parity with internal combustion engines (ICEs) by 2025. From this point onwards, EVs appear to penetrate at pace leading to 200m on the road by 2030 and 1 billion by 2050.
Agreeing with Carbon Tracker and everything else I have read, I believe cost parity will hit around 2020 though, which makes for an even more aggressive timeline.
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Old 06-29-2017, 09:46 AM   #436
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This is why "clean coal" doesn't work - it's not economical.

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The 582 MW plant was designed to convert locally-mined coal into a synthetic gas and capture over half of its carbon emissions. But years of cost overruns and construction delays led Mississippi regulators to direct the utility to draw up a plan for the plant to run solely on natural gas, prompting Southern's decision.
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By 2013, those cost estimates had ballooned to $3.4 billion amid more delays, and last year the utility estimated the cost would be $6.6 billion. The most recent estimate put the plant's total cost at over $7 billion, though a regulatory decision limited the costs to ratepayers at $2.8 billion.
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An analysis of the project’s economics by the Mississippi PSC indicated the project would only be economic if natural gas prices rose considerably.
See that bold part? That's what the American people get to pay for as a wasted project. That money and time could have been spent on solar/wind/battery storage to help the community and would have saved money in the long run....

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Old 07-02-2017, 08:26 PM   #437
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Just wanted to give a visual reminder of what the annual CO2 ppm is:

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The dashed red line with diamond symbols represents the monthly mean values, centered on the middle of each month. The black line with the square symbols represents the same, after correction for the average seasonal cycle.


So let's look at the annual averages for atmospheric CO2 ppm.

year mean unc
1959 315.97 0.12
1960 316.91 0.12
1961 317.64 0.12
1962 318.45 0.12
1963 318.99 0.12
1964 319.62 0.12
1965 320.04 0.12
1966 321.38 0.12
1967 322.16 0.12
1968 323.04 0.12
1969 324.62 0.12
1970 325.68 0.12
1971 326.32 0.12
1972 327.45 0.12
1973 329.68 0.12
1974 330.18 0.12
1975 331.11 0.12
1976 332.04 0.12
1977 333.83 0.12
1978 335.40 0.12
1979 336.84 0.12
1980 338.75 0.12
1981 340.11 0.12
1982 341.45 0.12
1983 343.05 0.12
1984 344.65 0.12
1985 346.12 0.12
1986 347.42 0.12
1987 349.19 0.12
1988 351.57 0.12
1989 353.12 0.12
1990 354.39 0.12
1991 355.61 0.12
1992 356.45 0.12
1993 357.10 0.12
1994 358.83 0.12
1995 360.82 0.12
1996 362.61 0.12
1997 363.73 0.12
1998 366.70 0.12
1999 368.38 0.12
2000 369.55 0.12
2001 371.14 0.12
2002 373.28 0.12
2003 375.80 0.12
2004 377.52 0.12
2005 379.80 0.12
2006 381.90 0.12
2007 383.79 0.12
2008 385.60 0.12
2009 387.43 0.12
2010 389.90 0.12
2011 391.65 0.12
2012 393.85 0.12
2013 396.52 0.12
2014 398.65 0.12
2015 400.83 0.12
2016 404.21 0.12
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Old 07-04-2017, 09:48 AM   #438
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Hope everyone has an awesome 4th! Just doing some reading before the festivities begin tonight and thought I would share this one.

Also, since it's independence day, have you thought of your plan to become independent of oil for your transportation needs?

---------------------------------------------------------------------------------------------------------------------------------------------------------------------
This is great to see and another sign that things are changing in the O+G industry:

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The future of the oil sands is to forget about growth, manage assets well and become a yield play.”

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“We’ve decided to let the shareholders see the cash,” Chief Executive Steve Williams said in an interview. “We can continue this model for a lot longer.”

Suncor’s run, which has slowed in the past month as crude prices fell, is a testament to changing investor appetites for oil companies. A decade ago, a promise not to invest in a company’s core business “in the foreseeable future,” as Mr. Williams assured investors in February, might engender a lack of confidence.

But in a world where uncertainty looms due to questions about price swings, demand, new technology and climate regulations, a pledge to give cash to shareholders rather than spend it has been welcomed.

Suncor is a top pick among energy analysts at Goldman Sachs Group Inc. and is recommended as a “buy” by 81% of analysts, more than any other big oil producer. Including reinvested dividends, the company’s U.S. shares returned 18% to shareholders from June of last year to May 31. That’s better than every other major North American oil company in that time.
The cash cost of Suncor’s oil sands operations has declined by 30% to 40% since 2009 and reached $17 a barrel in April, according to Wolfe Research. That is competitive with some of the lowest-cost production in the U.S.

Mr. Williams says Suncor will be able to cut costs further in ways that will also reduce emissions. The company is testing autonomously driven mining trucks in certain operations. Suncor and others also have begun using solvents instead of steam—requiring less energy and lower emissions—to make the tar-like oil easier to extract, process and ship.
Royal Dutch Shell PLC, Statoil AS A,Marathon Oil Corp. and ConocoPhillipshave disposed of Canadian assets in the past year, and analysts expect others to follow.

Production in Alberta’s oil sands tends to be more expensive and carbon intensive due to the added energy needed to make the heavy oil flow. The higher emissions stemming from such techniques have made Canadian crude a target of environmental activists.

The big oil exodus from Canada has come as low prices force companies to favor operations that turn a profit quickly and require less upfront investment. Being a low-cost producer will be an advantage if oil demand falls and prices remain depressed for years.

“Growth will be very difficult,” given potential caps on carbon emissions and the flight of capital to other areas, said Rafi Tahmazian, senior portfolio manager at Canoe Financial Corp., a Calgary-based investment fund with about $700 million in energy investments. “The future of the oil sands is to forget about growth, manage assets well and become a yield play.”
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Old 07-05-2017, 10:07 AM   #439
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Since 2000, heavy trucks have accounted for 40 percent of the total growth in oil demand, on par with the share for passenger vehicles. Trucks burn about 17 million barrels of oil per day (mb/d), or about one-fifth of total global demand.
What the IEA study seems to missing is the fact that Tesla is about to unveil their new all electric, autonomous Semi in September. Tesla will not only be disrupting the passenger car segment starting this year, but the heavy truck segment in the next year or two.

The wind is shifting.....
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Old 07-05-2017, 10:21 AM   #440
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I love inspirational videos, this one deals with Tesla and SpaceX. This is exactly why I've believe in what Tesla has been doing since 2012 - Elon Musk never quits.

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