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Posted on 5/22/22 at 3:42 am to salty1
Ship food, and fuel... "F" Chinese Goods... USA Hardware...
We gonna loose our arse on Electronic Chips..
We gonna loose our arse on Electronic Chips..
Posted on 5/22/22 at 4:17 am to WWII Collector
Maybe we can just import some more diesel from Canada in that new pipeline.
Sorry, Brandon cancelled that one.
Sorry, Brandon cancelled that one.
Posted on 5/22/22 at 4:22 am to EYE_on_LSU
quote:
import some more diesel from Canada in that new pipeline.
That’s not the way it works homie
Posted on 5/22/22 at 4:53 am to salty1
We still sending boatloads of diesel to Europe?
Posted on 5/22/22 at 5:32 am to Cajun Tigah
quote:
We still sending boatloads of diesel to Europe
As of last week, yes.
Posted on 5/22/22 at 5:44 am to salty1
Reuters reported on the shortage, yes, it is real, but far more complex and apparently less of an outright emergency than the tweets make it sound.
Link to Reuters.
LINK
LONDON, May 19 (Reuters) - Global distillate fuel oil shortages signal the business cycle is peaking and a period of slower growth or even a recession is imminent to bring consumption back in line with production.
Middle distillates including diesel and gas oil are the primary fuel used in manufacturing, shipping, trucking, freight railroads, mining and farming so price and availability corresponds closely with the business cycle.
The post-pandemic economic boom in 2021/22 has exceeded the capacity of refineries to make enough of them and severely depleted inventories across North America, Europe and Asia:
Europe’s distillate stocks fell to 378 million barrels at the end of April, the lowest seasonal level since 2008 immediately before the onset of the recession and financial crisis.
SNIP
In recent decades, distillate shortages have always been resolved by either a mid-cycle slowdown or an end-of-cycle recession and there is no reason to think this instance will be different.
Rising interest rates around the world, tightening credit conditions and the impact of inflation on household and business budgets are all likely triggers for a slowdown.
Link to Reuters.
LINK
LONDON, May 19 (Reuters) - Global distillate fuel oil shortages signal the business cycle is peaking and a period of slower growth or even a recession is imminent to bring consumption back in line with production.
Middle distillates including diesel and gas oil are the primary fuel used in manufacturing, shipping, trucking, freight railroads, mining and farming so price and availability corresponds closely with the business cycle.
The post-pandemic economic boom in 2021/22 has exceeded the capacity of refineries to make enough of them and severely depleted inventories across North America, Europe and Asia:
Europe’s distillate stocks fell to 378 million barrels at the end of April, the lowest seasonal level since 2008 immediately before the onset of the recession and financial crisis.
SNIP
In recent decades, distillate shortages have always been resolved by either a mid-cycle slowdown or an end-of-cycle recession and there is no reason to think this instance will be different.
Rising interest rates around the world, tightening credit conditions and the impact of inflation on household and business budgets are all likely triggers for a slowdown.
Posted on 5/22/22 at 6:23 am to Eurocat
I love how you can wreck an economy, just bring it to its knees, then label it a “boom” when it does anything at all. It’s similar to when government doesn’t go into debt as much as planned and calls it “reducing the deficit”.
Posted on 5/22/22 at 6:25 am to Eurocat
quote:BS!
The post-pandemic economic boom in 2021/22 has exceeded the capacity of refineries to make enough of them and severely depleted inventories across North America, Europe and Asia:
quote:
EIA: Summer US gasoline, diesel prices to be highest since 2014
By U.S. Energy Information Administration April 19, 2022
U.S. gasoline and diesel consumption continue to remain below their 2019 averages.
LINK
Posted on 5/22/22 at 6:27 am to Eurocat
I would like to know why we are having a shortage. its not like the refineries just stop making diesel. Are we shipping butt loads to Ukraine? This is crazy.
Posted on 5/22/22 at 7:05 am to Bamafig
quote:
It’s similar to when government doesn’t go into debt as much as planned and calls it “reducing the deficit”.
Or........you planned to buy a Mercedes, then bought a Ford
when all you could really afford was a Vespa.
ETA: for those you who haven't been around long enough to
know.....Vespa=motor-scooter.
This post was edited on 5/22/22 at 7:17 am
Posted on 5/22/22 at 7:26 am to NC_Tigah
quote:
post-pandemic economic boom in 2021/22 has exceeded the capacity of refineries to make enough
This is hillarious. People believe this bullshite?
quote:
U.S. gasoline and diesel consumption continue to remain below their 2019 averages.
When the shite was under $2 a gallon and definitely readily available.
Posted on 5/22/22 at 7:33 am to DownshiftAndFloorIt
Fuel prices are being artificially manipulated by the Biden administration.
Posted on 5/22/22 at 7:36 am to bayoudude
Not nearly enough is made out of us being energy independent in 2019. That was a huge boon for the economy and national security and bidenz dumb arse campaigned on ending it. fricking pathetic.
Posted on 5/22/22 at 7:36 am to Squirrelmeister
Yes all those plants have to produce 10-25% renewables in the upcoming years.
Posted on 5/22/22 at 7:38 am to UAinSOUTHAL
quote:
Come on, two of those messages were from two weeks ago. If it was that serious it would be all over in the last two weeks. This sounds and looks like some found on Facebook bullshite.
How far in the sand do you have to stick your head to be this damn dumb?
Posted on 5/22/22 at 7:41 am to Nosevens
But this is the evil private sectors fault and the feds will have to step in and save us from it.
Posted on 5/22/22 at 7:43 am to salty1
Maybe Joe will release from the strategic resource that will only get a trucker from Bama to Arkansas
Posted on 5/22/22 at 7:54 am to salty1
The third largest refinery in the US is supposed to be shutting down for 2 months in October for maintenance.
Posted on 5/22/22 at 7:55 am to DownshiftAndFloorIt
A few paragraphs from the NYTimes - full article linked -
LINK
HOUSTON — Oil and gasoline prices are climbing. Energy company profits are surging. President Biden, who came into office promising to reduce the use of fossil fuels, has effectively joined the “drill, baby, drill” chorus. Europe would love to end its dependence on Russia.
Yet most U.S. oil businesses are not eager to capitalize on this moment by pumping more oil.
Production of oil by U.S. energy companies is essentially flat and unlikely to increase substantially for at least another year or two. If Europe stops buying Russian oil and natural gas as some of its leaders have promised, they won’t be able to replace that energy with fuels from the United States anytime soon.
U.S. oil production is up less than 2 percent, to 11.8 million barrels a day, since December and remains well below the record 13.1 million barrels a day set in March 2020 just before the pandemic paralyzed the global economy. Government forecasters predict that American oil production will average just 12 million barrels a day in 2022, and increase by roughly another million in 2023. That increase would be well short of the nearly four million barrels of oil that Europe imports from Russia every day.
“You had this bombastic, chest-pounding industry touting itself as the reincarnation of the American innovative spirit,” said Jim Krane, an energy expert at Rice University. “And now that they could be leaping into action to pitch in to bring much-needed oil to the world, they are being uncharacteristically cautious.”
The biggest reason oil production isn’t increasing is that U.S. energy companies and Wall Street investors are not sure that prices will stay high long enough for them to make a profit from drilling lots of new wells. Many remember how abruptly and sharply oil prices crashed two years ago, forcing companies to lay off thousands of employees, shut down wells and even seek bankruptcy protection.
Executives at 141 oil companies surveyed by the Federal Reserve Bank of Dallas in mid-March offered several reasons that they weren’t pumping more oil. They said they were short of workers and sand, which is used to fracture shale fields to coax oil out of rock. But the most salient reason — the one offered by 60 percent of respondents — was that investors don’t want companies to produce a lot more oil, fearing that it will hasten the end of high oil prices.
The Dallas Fed survey found that U.S. companies need oil prices to average just $56 a barrel to break even, a little more than half the current price. But some are worried that the price could fall to as little as $50 by the end of the year.
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