European Energy Crisis, Foreshadowing for the rest of the world?

[ThePenIsMightier]

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Skeet skeet brrrrrr

From the windows
To the walls

[Yolobimmer]

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From the windows
To the walls

'Til the sweat drop down my balls (my balls)
'Til all these bitches crawl

That's my song, dawg.

[zechs]

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Speaking of Kitimat - Kitimat Clean Refinery is the best idea to go nowhere in several years. It's about 70x better than NWR which we will be paying for for a about a decade after it's moth balled...

Wild considering there may even be diesel shortages this winter, diesel is almost $2/L, and the NWR runs off of royalty (discounted) feed stock doesn't it?

Government planning at its finest.

[suntan]

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I think you need to read what I said again. I said WCS is unique, and it has nothing to do with the physical product. So quality is off the table.

I never said shipping constraints weren't a factor.

Once again I ask, "what is the market price of WCS?"

You could ship any oil down and it would be discounted, because of the shipping constraints.

Like Edmonton Light.

[mr2mike]

When does panic set in for Europe? It's gotta be getting cold there.

[Yolobimmer]

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When does panic set in for Europe? It's gotta be getting cold there.

Where ya been? There's MASSIVE protests against Nato and sanctions that have caused this all over Europe's big cities. France, Germany, Italy etc etc.

[zechs]

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You could ship any oil down and it would be discounted, because of the shipping constraints.

Like Edmonton Light.

You could have unlimited shipping capacity, and WCS will be discounted. I suppose there could be some crazy upsidedown world scenario heavy oil was in such demand it could surpass WTI, but I don't think that scenario has happened ever (just looked from 2005-2020 wti vs wcs and didn't see it on statista but I may be blind).

[davidI]

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You could have unlimited shipping capacity, and WCS will be discounted. I suppose there could be some crazy upside-down world scenario heavy oil was in such demand it could surpass WTI, but I don't think that scenario has happened ever (just looked from 2005-2020 wti vs wcs and didn't see it on statista but I may be blind).

You're arguing at cross-purposes.

WCS is discounted because of its grade but also because of shipping constraints and poor market access.
Light grades are discounted because of shipping constraints and poor market access.
NG is discounted because of shipping constraints and poor market access.

3 of these 4 issues could have been fixed by a competent government, though it's perhaps too late now. 1 issue is not an infrastructure issue, but could be remedied by domestic upgrading/refining if the private market sees the business case (and the government gets the F out of the way).

[Yolobimmer]

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You're arguing at cross-purposes.

WCS is discounted because of its grade but also because of shipping constraints and poor market access.
Light grades are discounted because of shipping constraints and poor market access.
NG is discounted because of shipping constraints and poor market access.

3 of these 4 issues could have been fixed by a competent government, though it's perhaps too late now. 1 issue is not an infrastructure issue, but could be remedied by domestic upgrading/refining if the private market sees the business case (and the government gets the F out of the way).

Shipping by pipe would save around $8 a barrel for the oil in the pipe..

WE would not see a penny of it as Royalties would stay the same.

You are arguing and fighting for foreign corporation profits.

Shut up already. No one with a brain cares how much extra money some Texan makes.

[mr2mike]

More food being wasted on Europe museums.

[mr2mike]

Crisis over. Whew. Lol.

https://financialpost.com/commoditie...age-turns-glut

[davidI]

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Crisis over. Whew. Lol.

https://financialpost.com/commoditie...age-turns-glut

Next Headline: Climate Change Defeats Russia

[arcticcat522]

https://oilprice.com/Latest-Energy-N...Coal-Mine.html

Love seeing people come to their senses. Desperate times, I suppose. It's only 1 wind turbine for now.....

[zechs]

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You're arguing at cross-purposes.

.

No

[ZenOps]

As per usual, winter will dictate who wins..

[ZenOps]

BTW: Lignite is pure evil.

[ZenOps]

In no small way, it makes more sense for the USA to burn wood to produce rocket fuel for the moon missions, and sell the higher energy fuels (diesel, gasoline, propane) to Europe.

The current way of doing it is almost as stupid as burning diesel on a freighter to ship wood to Europe. The longer the distance, the higher energy density fuel you want to ship.

[ExtraSlow]

Gas price cap ready, but also can be removed immediately if they miss out on anyshipments.
Sounds like gas shippers have a strong incentive to skip a few shipments early.

[Sentry]

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BTW: Lignite is pure evil.

Ligma balls
Gottem

[Xtrema]

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Gas price cap ready, but also can be removed immediately if they miss out on anyshipments.
Sounds like gas shippers have a strong incentive to skip a few shipments early.

What's this cap? Sounds like it's a nothing burger.
https://www.politico.eu/article/furi...-cap-proposal/

The Commission put forward the proposal earlier this week after coming under fierce pressure from a group of 15 countries, but now they're dismayed that the cap is set at such a high price that it's toothless and wouldn't even have been triggered during this summer's record prices.