Debt Rattle November 29 2014
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DPC The Mammoth Oak at Pass Christian, Mississippi 1900 • Market Rout As Oil Slide Rocks Energy Groups (FT) • Could Oil Collapse Cause Next Credit Cri
[See the full post at: Debt Rattle November 29 2014]What a gorgeous oak tree; it takes my breath away…
On another note; SNAFU! Situation Normal, All Fucked UP!
On yet another note; FUBAR!Ain’t it grand? 25°c last night after a 33°c day. Wonderful, wonderful, wonderful. No aircon in the tropics, just nature and not surrounded by concrete and asphalt. Trees to the south and north (we’re at 13°N latitude) and a house (an extremely modest dwelling) shaded. It only took 5 years for nature to provide the natural aircon…
Sorry, just a wee bit burned out on western newsflood…THE MOST IMPORTANT SENTENCE IN THE WORLD!!!
Green Energy is our solution to Climate Change, but Climate Change is only just One out of a total of Six Direct Drivers that are leading the world towards The 6th Great Mass Extinction.∴ GREEN ENERGY WILL NOT STOP THE 6TH GREAT MASS EXTINCTION !!!
► The 6 Direct Drivers of Mass Extinction are:
… 1) Invasive Species
… 2) Over-Population
… 3) Over-Exploitation
… 4) Habitat Loss
….5) Climate Change
….6) PollutionGREEN ENERGY BLUES
► In just 13 years, we will “lock in” an inevitable near term 6°C earth temp rise because we continually exceed the worse-case emissions scenario set out back in 2007 says climate scientist, Dr. Michael Jennings.
► Energy demands to increase 100% by 2060 says the IEA.
► Emissions have to decrease 80% by 2030 says climate scientist, Kevin Anderson.
► To power England with 100% solar & wind, requires 25% of its land says physicist, David MacKay.
► 40% Green Energy requires 200% more copper says John Timmer of Ars Technica.
► Peak copper hits 2030 – 2040 says Ugo Bardi.
► Post peak copper production cannot accelerate at any price says Dave Lowell.
► This is true of any post peak mineral production.
► There is no real substitute for copper says Mat McDermott of Motherboard.
► We mined 50% of all the copper in human history in just the last 30 years.
► 100% green energy requires 500% more copper.
► Peak minerals includes more than just copper.
► By 2050, expect to be past peaks for tin, silver, cadmium and more.
► We now move 3 billion tons of earth per year to get 15 millions tons of copper.
► We can’t afford to mine 500% more copper at ever lower concentrations.
► We cannot recycle it into existence.
► We cannot conserve it into existence.
► Substituting aluminum for copper takes 5X the energy and is less safe.
► Google’s own green energy experts say renewable energy simply won’t work…. https://www.theregister.co.uk/2014/11/21/renewable_energy_simply_wont_work_google_renewables_engineers/PAINT BY NUMBERS
► 90% of Big Ocean Fish gone since 1950.
► 90% of Lions gone since 1993.
► 90% of Monarch Butterflies gone since 1995.
► 75% of Riverwater & Riverbank Species gone since 1970 = 75,000 U.S. dams.
► 50% of Great Barrier Reef gone since 1985.
► 50% of Human Sperm Counts gone since 1950.
► 50% of Fresh Water Fish gone since 1987.
► 30% of Marine Birds gone since 1995.
► 28% of Land Animals gone since 1970.
► 28% of All Marine Animals gone since 1970.
► 93 Elephants killed every single day.
► 2-3 Rhinos killed every single day.
► Bees die from malnutrition lacking bio-diverse pollen sources.THE RUNDOWN
► Humans and livestock were 0.01% of land vertebrate biomass 10,000 yrs. ago.
► Humans and our livestock are now 97% of land vertebrate biomass.
► Humans and our livestock eat over 40% of land chlorophyll biomass.
► 50% of vertebrate species died off in the last 50 years.
► 50% of remaining vertebrate species will die off in the next 40 years.
► +50% = Unstoppable Irreversible Catastrophic Cascading Extinctions Collapse.
► 75% Species Loss = Mass Extinction.
► Ocean acidification doubles by 2050, triples by 2100.
► in just 13 years, we will lock in a near term 6°C earth temp rise..
► World Bank says we have 5-10 years before we all fight for food and water.Our Hi-Tech world absolutely requires Rare Earth Elements and mining them is a dirty-dangerous dirty business no holds barred. We will soon not be able to mine Rare Earth Elements without Thorium Power because mining Rare Earth Elements produces Thorium as a radioactive waste by-product that we can’t afford to handle safely. We can’t have one without the other. In other words, we can’t have a Hi-Tech Green Energy world without digging up the radioactive Thorium with which we don’t know what to do. India and China are on a crash course race to the moon of Apollo proportions to be the first to produce commercial Thorium Power. China wants at least 400 Gigawatts of nuclear power by 2050 (400 power plants in 35 years) and they are going to git it one way or t’other. I guar-r-rantee it.
But, why is China so important?
► 60,000 U.S. factories moved to China in the last 10 years.
► China has produced 6 gigatons of cement in just the last 3 years.
► America has produced just 4 gigatons of cement in the last 100 years.
► China’s banks have produced $15 trillion in debt in the last 5 years.
► U.S. commercial have produced $15 trillion in debt in the last 100 years.
► $15 trillion is the U.S. annual GDP.How low can the price of oil go!!!
Here is more info on oil.https://www.eia.gov/tools/faqs/faq.cfm?id=367&t=6
How much does it cost to produce crude oil and natural gas?A measure of the total cost to produce crude oil and natural gas is the upstream costs. The upstream cost includes lifting and finding costs.
If a oil producer goes bankrupt and is bough out then the upstream cost will change. What will be relevant will be the NEW financial cost and the NEW lifting cost.
The lifting cost could be as low as $10.00 a barrel.
Oil could be flowing for a long time at $10.00 upstream cost.jal,
Maybe EIA is pulling these numbers out of its a**? Here’s the Bakken:
https://www.dmr.nd.gov/oilgas/stats/historicalbakkenoilstats.pdf
Assuming $6M per well may be overstating cost and, of course, costs can go down. Then, again maybe not:
https://www.willistonherald.com/most_recent/bakken-future-is-bright/article_4ebec138-bff9-11e3-b9ca-0019bb2963f4.html
So can Bakken producers cut lifting costs by 80-90%? It’s quite the challenge.@ Ken
heheh Right. The numbers are not coming out of my a**What are the upstream cost for ISIS?
Right.
Who lost their upstream investments?
No wonder that there is such a push to get rid of ISIS. Always follow the money to get an understanding of a complex line of bullshit.https://english.alarabiya.net/en/perspective/analysis/2014/11/27/ISIS-oil-wealth-U-S-allies-work-to-stem-its-growth.html
In Iraq alone, ISIS has taken oil from Qayyarah oil field by Mosul, Ajil and Hamrin fields by Tikrit and Qoshtapa by Erbil. Reports estimate that by the end of June of 2014, 20,000 barrels of oil had been smuggled from Ajil and was traded at $25 to $60 per barrel, where it would typically sell for around $100 a barrel. The trading and selling price of ISIS oil is well below market price, making it extremely tempting for buyers, while still bringing in enough money to comfortably finance the terror group.
https://edition.cnn.com/2014/09/22/business/isis-oil-luay-al-khatteeb/Now, U.S. airstrikes have hit locations in eastern Syria where ISIS has been using mobile refineries to produce oil. CNN has revisited the conversation to find out the likely impact of the strikes. This is al-Khatteeb’s analysis of the situation.
It makes sense to target the refineries rather than the oil fields, as the crude can’t be used to drive the tankers. The crude can be sold but the refined oil is much more valuable.ISIS, in control of a large swathe of eastern Syria, is now handling 60% of the country’s oil assets and producing 50,000 barrels a day.
ISIS can sell oil for a long time with their low upstream cost.
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