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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 8032 times)

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AGelbert

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    • Renwable Revolution
The VERY recent 600,000 BPD decline from  Canada electing to idle tar sands piggery operations because 80,000 people were evacuated from a town nearby will help MKing and friends achieve there feverish hopes for a rise in oil prices in the short term.

But it won't last, no matter how much the speculators scheme to jack up the price in the commodity futures market(s) in a move TOTALLY UNRELATED to fundamentals, as occurred last month when MKing was crowing about oil prices "rising on increased demand".

Quote
Speculator bets on higher Brent prices reached record highs last week as Brent futures gained 21.5 percent in April, their largest monthly advance in seven years.  Bets on WTI futures and options also rose, to 10-month highs, feeding investor views that prices may have risen too far, too fast.

"The recent rally in oil prices that took WTI above $46 a barrel appears to have little to do with fundamentals, only partially with financial factors, and possibly more to do with sentiment  ;)," BNP Paribas oil strategists Harry Tchilinguirian and Gareth Lewis-Davies said.

http://www.marketbeat.com/stories.aspx?story=http%3a%2f%2ffeeds.reuters.com%2f%7er%2freuters%2fbusinessNews%2f%7e3%2fKRsJG-pnYz0%2fus-usa-puertorico-default-idUSKCN0XT171
 

Quote
New Report Shows ‘Natural Gas Increasingly Becoming an Unnecessary Bridge to Nowhere’

SUN DAY Campaign | April 28, 2016 10:13 am

Setting a new lopsided quarterly record, renewable sources (i.e., wind, solar, biomass and hydropower) outpaced—in fact, swamped    —natural gas by a factor of more than 70:1 for new electrical generating capacity placed in-service during the first three months of calendar year 2016.

According to the most recent data provided by the U.S. Energy Information Administration (EIA), actual net electrical generation from utility-scale renewable energy sources totaled about 14.3 percent of total U.S. electrical production as of January 31, 2016 (see: http://www.eia.gov/electricity/monthly).

However, this figure understates renewables’ actual contribution because neither EIA nor FERC fully accounts for all electricity generated by  distributed, smaller-scale renewable energy sources such as rooftop solar (e.g., FERC acknowledges that its data just reflect “plants with nameplate capacity of 1 MW or greater”). 




Peak oil DEMAND will continue to fall as new Renewable Energy comes online. Mking ASS-U-MEs that all that money invested in oil piggery will be defended because it's "such a great investment". 

I think RE has, on numerous occasions   ;D, tried to explain to MKing that throwing good money after bad DEBT is brain dead, as well as wishful thing on MKing's part.

the money put into oil and gas with wall street that either has to go back to the investors, or be spent in oil and gas. The number runs into the 12 figures.

No, it doesn't.  It can completely dissapear down a Black Hole of irredeemble debt.  The "money" being issued out here is debt money.  If the underlying assets used as collateral do not have the value that was attributed to them at the time the debt was issued, the difference between the debt money issued and the collateral devaluation is entirely lost money.  It never really existed  actually, it was just notional money based on future promises.

RE


But as for MKing's "world class fossil fuel worshipping geochemist views" about the future of the fossil fuel industry and the "soon recovery" of oil and gas prices (also desperately hoped for by such banking pigs as JPM that have their asses in the wind for loaning out so much money to the now cratering oil and gas corporations), SEE BELOW:

Rob not the poor, because he is poor: neither oppress the afflicted in the gate:
For the Lord will plead their cause, and spoil the soul of those that spoiled them. Pr. 22:22-23

 

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