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Re: For GRG55
Commodity trader Trafigura estimates crude oil demand is down 35 million barrels per day. That's about a 1/3 slice off global consumption in a matter of weeks.Originally posted by Mega View Post
With 75% of the world's commercial aircraft fleet grounded, an enormous decline in global seaborne shipment and huge swaths of the world's population confined to their homes, nobody should be surprised about this. Transportation fuel is the most valuable market for liquid petroleum.
Mrs. GRG55 and I typically consume ~150 litres of gasoline (petrol to you Brits) a week in our vehicles (my office is a 110 km round trip from the bunker). We are down to less than 25 litres a week now. Multiply that across the private-vehicle-heavy developed economies.
The system is backing up and breaking down.
When this is over the global petroleum industry will further concentrate into the hands of the state-owned National oil companies and the major multi-nationals such as Exxon, Chevron, BP and Royal Dutch Shell. The intermediates, such as France's Total and Italy's ENI, will only survive with their national government support (exactly what Mark Carney and the climate change cohort are trying to discourage). The independent intermediates, such as Apache Corp, will likely disappear in the next M&A wave.
There's an old adage that the solution to low oil prices is...low oil prices. I don't see anything has changed in that regard.
Last edited by GRG55; April 12, 2020, 12:45 PM. -
Re: For GRG55
Looks like this IS going to be a Muti-year thing..............
OIl/Gas etc.............I might be tempted to invest in Shell (They got everything covered).....not sure I have the Balls for BP.Comment
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Re: For GRG55
Nobody actually knows how long it will take the international airline and travel industry to recover. It's a pure crap shoot.Originally posted by Mega View Post
Looks like this IS going to be a Muti-year thing..............
Lufthansa's Executive Board is dealing with the same imperfect information and foggy outlook situation everyone else is. And making the decision to slash fixed costs on the basis that domestic, short-haul travel will recover before long-haul international travel recovers (hence parking the A340s, A380s and aging Boeing 747-400s in its fleet).
They don't know for certain, but they cannot "do nothing".
Getting fixed costs down is the key to survival for every business, everywhere, right now. Parking airplanes, cancelling leases, cancelling in-motion flight insurance, reducing fuel contract volumes and such are logical for any airline at the moment, if they want to be around when this latest Chinese virus export to the world finally gets past its "best before" date.
BP in my opinion is the better run company. RDS spends too much money on dead-end "science projects".Originally posted by Mega View Post
Mike, my advice to you is to take the amount you plan to invest in oil and gas and divide it equally between 4 or 5 companies - a basket of RDS, BP, Chevron, Exxon and maybe Total. Tuck it away for a couple of years and collect the dividends. At this moment it's still to early to buy any of them imo. Wait to see if the dividends are going to be reduced first. And wait to see how long this viral lockdown is going to last.Last edited by GRG55; April 12, 2020, 01:38 PM.Comment
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Re: For GRG55
OK, but remember:-
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Re: For GRG55
Mike: When you buy a new EV then, and only then, will I become a believer.Originally posted by Mega View Post
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Re: For GRG55
Mostly there!
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Re: For GRG55
Performance Model 3 he talks about in the video typically sells for £56,900 in the UK (base price is £52,000, but nobody buys one of those with no options). That's about US $71,000. A bit of a jump from Musk's heavily promoted $35,000 "everyman's car".Originally posted by Mega View Post
Look forward to getting a ride in yours Mike, cause I can't afford one of my own.
And when this virus shutdown is finally over, I expect there will be a lot fewer people (including your much hated buy-to-let crowd) that feel flush enough to buy one of these on credit.
Last edited by GRG55; April 12, 2020, 03:24 PM.Comment
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Re: For GRG55
Oh I ment the TEC is almost there..........I love the model 3 as its put a cat among the pigeons .......even if the cat is a Tax payer fraud.
Tesla is there to force Car producers to go EV, simple as that.
The Model 3 Duel Motor can cut it with ALL German High Performance stuff, it requires little maintance & cheap running costs.
GM are going ahead with their new platform & a new battery tec that users 70% less Cobolt .
In the meantime VW are almost here with the ID3 & its a Golf sized car that has Passat size interior .......the new ID1 is likely to be a Polo size car with almost Golf size interior. Small battery version under £20,000...........cheaper EV's are coming & Business users face NO Tax's if its an EV.
Thus Ex fleet in a few years will be a source of second hand ID1/ID3 & others.....at affordable prices for the Plebs.
This is what I want:-
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Re: For GRG55
The Biggest problem for the EV is it don't make the right noises ...........ICE cars are living breathing things, we need air..............so do they.
I know you can fake the sounds but its not the same thing............
My dream car............Ford RS 200e and remake of the 1980's group "B" Rally car with EV Power
0-62 in 9 secs & 90 MPH is Plenty for the unwashed
Last edited by Mega; April 12, 2020, 04:06 PM.Comment
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Re: For GRG55
Battery EV may prove a limited use technology. I don't think the incremental advances in battery tech are going to deal with the inherent limitations of vehicle weight and size, and battery storage limitations, including the range and charge time issues. Peanut sized, jelly-bean "cars" running around the inner city of London might work well with batteries. Not so convinced anything much bigger or heavier, like the Cybertruck, or even another Model S sized sedan will.
The EV that might work may be fueled with H2.
China Orders Loop Energy’s Fuel Cell Range Extender
April 8, 2020
Loop Energy, a mobile-power company providing hydrogen fuel cell solutions for the medium- to heavy-duty vehicle market, has received a purchase order from a bus manufacturer in China to support the Nanjing municipal government’s objective of replacing its existing 7,000-unit battery-electric bus fleet with an improved battery-hydrogen hybrid alternative that offers all-season, long-range and higher passenger-capacity operation...
Everfuel Orders Hydrogen Distribution Systems From Hexagon Purus
April 7, 2020
Hexagon Purus, a provider of Type 4 high-pressure cylinders and fuel systems for hydrogen, has been awarded an order from Everfuel to deliver two new-generation X-STORE high-pressure hydrogen distribution modules.
The modules have a nominal payload capacity of 958 kg of compressed hydrogen at 300 bar and will be produced at Hexagon Purus’ production and assembly facility in Kassel, Germany. They will be used to transport hydrogen to refueling stations serving hydrogen fuel cell electric taxis and buses in Denmark...
BMW Group Commits to Hydrogen Fuel Cell Technology
April 7, 2020
The BMW Group has committed to producing hydrogen fuel cell technology to offer customers emission-free mobility...
...“The hydrogen fuel cell technology could quite feasibly become the fourth pillar of our powertrain portfolio in the long term. The upper-end models in our extremely popular X family would make particularly suitable candidates here,” he adds...
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Re: For GRG55
Quite Happy if we use Fuel Cell, but I yet to see a Fast/quick production car.
WE need & might get a Jump with new Battery chem.......we see.
Just in case...............
https://www.wsp.com/en-GB/news/2019/...rogen-pipeline
MikeComment
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Re: For GRG55
What we need for them is sort of an EV version of these cars
Ah Yes:-
Last edited by Mega; April 13, 2020, 12:32 PM.Comment
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Ah................"Freedom" Motherf*ckers ;)
One can understand they might be a bit "reluctant" to jump ship from their 10-20 year old ex fleet BMW/Audi/Merc 130 mph+ Turbo-diesels......thus they will require "encouragement" via urban clean air taxes
MikeLast edited by Mega; April 13, 2020, 01:03 PM.Comment
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Re: For GRG55
Here you go. Royal Dutch Shell just cut their dividend by 2/3. Their first dividend cut since WWII.Originally posted by GRG55 View Post
Posted on zerohedge: https://www.zerohedge.com/energy/she...e-world-war-ii
Be kinder than necessary because everyone you meet is fighting some kind of battle.Comment
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