Archive for the 'Energy' Category
Oil Gaps Down, Low Demand, Storage Running Out
April 20th, 2020Update: Oil Trading Negative I thought there was a problem with the data. Nope. ZeroHedge is reporting it: Front-Month WTI Crude Crashes Below Zero For First Time Ever — Update: Penny Via: CNBC: West Texas Intermediate crude for May delivery tanked 98%, or $18.04, to trade at 19 cents per barrel, its lowest level on […]
Traders Storing Record Amount of Oil on Tankers
April 17th, 2020Via: Reuters: Traders are storing an estimated record 160 million barrels of oil on ships – double the level from two weeks ago as they seek to tackle a glut of stocks created by a slide in global demand from the coronavirus, shipping sources say. … The crude market is currently trading in what is […]
“Will the Coronavirus Kill the Oil Industry and Help Save the Climate?”
April 1st, 2020How many levels does this operation have? I’m having a very hard time trying to grasp the scale and sophistication of what’s unfolding so rapidly before us. At the individual level, Bill Gates, et al will be coming at us with needles. (Not happening, Bill.) There are countless middle range, police state/dictatorship/surveillance related measures going […]
Saudi Flood of Crude About to Crash Into Demand Destroyed by Coronavirus Containment Measures
March 16th, 2020Oil just broke down under $30. Via: Reuters: Saudi Arabia’s move to flood the crude oil market is on a collision course with global demand that is about to be pummelled by the coronavirus pandemic, especially in North America and Europe. As the outbreak intensifies and spreads across Europe and the United States, governments are […]
OIL DOWN 31%, S&P 500 LIMIT DOWN 5%
March 8th, 2020Holy shit. Via: Yahoo Finance: The world’s faltering effort to contain the coronavirus outbreak hammered stocks and crude oil on Sunday, as new cases surfacing across the U.S. amplified fears of a global downturn. Brent crude (BZ=F) prices collapsed, falling by as much as 31% on Sunday evening in what was the largest single-day drop […]
OIL DOWN OVER 7%
March 6th, 2020Update: Oil Closes Down 9.43% — Russia refuses to cut output. Via: Reuters: OPEC’s plans for deep and prolonged oil cuts were derailed on Friday as non-OPEC Russia refused to support the move arguing that it was too early to predict the impact of a coronavirus outbreak on global energy demand, sources told Reuters.
Tesla and PG&E to Build 1GWh Energy Storage System, Largest In the World
March 2nd, 2020Via: Electrek: According to Tesla’s plan, they will deploy 449 Megapacks at the site… Tesla is listing the project as having a total capacity of 1,200MWh, which would mean that each Megapack has a capacity of 2,673kWh. That’s more than 12 times the capacity of Powerpack 2 in a package that could potentially fit about […]
Oil: Biggest Weekly Drop in Over 4 Years
February 27th, 2020Everything is slowing down. Via: Reuters: Oil prices fell for a sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand. More: “We estimate global oil demand has fallen […]
Rumor: Tesla’s Secret Battery Project Will Produce Cells at $100 per kWh on a Massive Scale
February 27th, 2020Via: Electrek: Now sources have told Electrek that the secret project is called “Roadrunner,” and it will aim to achieve mass production of a new battery cell that will be more energy-dense and cheaper. The cells are using technologies developed by Tesla’s internal teams, including work from its research lab in Canada led by Jeff […]
The Last Gas Cars Roll Off GM’s Detroit-Hamtramck Plant This Week
February 24th, 2020Via: Electrek: Last Thursday, the body of the last Chevrolet Impala inched down the assembly line at GM’s Detroit-Hamtramck plant. Employees gathered around the car, snapping pictures of the final internal-combustion vehicle to be made at the storied Detroit plant. It will roll off the assembly line this week. On Friday, roughly 800 General Motors […]
