I'm putting my reputation as a trader on the line here and calling the bottom for WTI. Most people who know me know that I have been a professional trader since 1987 and have fought many a battle with the guys over at GS for many years. For you novices who went short on WTI on pseudo-news, you might want to reread this and think about it for awhile: "The Russian production figure is for crude and condensates, an ultralight oil that yields a greater proportion of high-value fuels. Production averaged 10.58 million barrels a day for 2014, also a post-Soviet record. Preliminary data, which didn’t reflect shipments by Gazprom Neft and may be revised, showed a decline in exports.
The previous post-Soviet oil production record was 10.64 million barrels a day in October, CDU-TEK data show. It rose above 11.4 million barrels a day in 1987, the Soviet-era peak, data from BP Plc show.
Brent crude, used to price about half of the world’s oil including Russia’s main export blend Urals, gained 0.5 percent today to $57.60 on the ICE Futures Europe exchange at 10:40 a.m. in London. It settled at $57.33 a barrel on Dec. 31, the lowest closing price since May 2009." Please also be aware that an extra few hundred thousand barrels coming out of Iraq doesn't mean beans.
10 U.S.oil rigs shut down also and 2.3% of nat gas rigs shut also - these rigs are shutting down much quicker than thought.
When they update on Wednesday this will jump at least 5-7%
Just go to Google and enter the title "Energy storage enjoys a breakthrough day" It will be the first link that shows up. You'll be seeing many more articles like the ones I posted now that California has mandated energy storage. Several other states are soon to follow. Here in the Pacific Nortwest, it is going to be mandated for all of our hydro dams. Many cities are mandating it also. With Pennsylvania just getting a Democrat as Governor, you will see it mandated there as well.
By Sophie Vorrath on 6 November 2014
The big announcements keep coming from the energy storage sector, with news this week that US behind-the-meter startup, Stem, has been tapped to provide 85MW of distributed energy storage to households in the West Los Angeles Basin.
The deal, a multi-year agreement awarded to Stem by Southern California Edison (SCE), marks America’s largest distributed energy storage project to date, and the first time energy storage has competed with traditional energy sources like natural gas at this scale.
For its part of the deal, Stem will deploy its advanced, behind-the-meter energy storage technology at customer locations in the Western LA Basin to act as dispatchable capacity to enhance the local reliability of the region.
In other words, using the combination of storage and its proprietary software platform, Stem will allow customers to monitor and manage energy use, which in turn will provide additional capacity to SCE.
“Its a big, big announcement,” said Stem CEO John Carrington, noting that SCE had a track record of embracing innovative resources – from its support of solar power and energy efficiency to its rollout of demand response programs.
“We have spent several years building software, financing, and innovative distributed storage solutions that provide a dynamic grid resource. The result is a solution that looks and feels familiar to utilities and benefits their customers.”
“This is a major win for behind-the-meter storage, demonstrating that this technology is a valuable tool for both utilities and their commercial and industrial customers,” said Janice Lin, co-founder and executive director for the California Energy Storage Alliance (CESA). 550909090
Stem was previously selected for projects with the Sacramento Municipal Utility District (SMUD) and Hawaiian Electric Company (HECO), and is active in the California Independent System Operator (CAISO) wholesale energy market.
The Stem Zero financing progra
Energy storage enjoys a breakthrough day
by Sam Jaffe, Guest Contributor NOV. 6, 2014 - 9:05 AM PST 1 Comment
Batteries ready to ship at Aquion Energy's factory. Image courtesy of Katie Fehrenbacher, Gigaom. credit: Image courtesy of Katie Fehrenbacher, Gigaom.
This week was monumental to the energy storage industry, including companies building big battery farms.
While most Americans were paying attention to election results, news emerged out of California on Wednesday that truly heralds a new era for the energy storage industry. Utility Southern California Edison announced that it will acquire 2200 megawatts (MW) of new power generation assets, of which 250 MW will be energy storage systems. This is the end result of the “Lowest Cost Resource” request for proposals that is designed to eventually replace the generation provided by the shuttered San Onofre nuclear power plant.
While the sheer scale of the announcement is staggering (no utility has ever purchased 250 MW of non-pumped-hydro energy storage before), the details of the announcement are even more impactful. Although SCE was expected to use some of this bid for energy storage (it listed energy storage as a “preferred resource” on the RFP), Navigant Research assumed the energy storage part of the purchase would be about 50 MW. By ordering five times that amount of energy storage, SCE is making a very loud statement about how highly it values energy storage as a grid management tool.
AES Energy Storage battery farm in Barbados. Image courtesy of AES Energy Storage.
AES Energy Storage battery farm in Barbados. Image courtesy of AES Energy Storage.
The Land Rush Begins
Another important aspect of this move is that it was done on a completely level playing field. SCE decided to purchase 250 MW of energy storage because it felt it had a higher value than any other generation asset (including natural gas, wind and solar). That in itself is an extremely important positive note for the energy st
Younicos, in Germany, claims battery storage technology can take the place of 25 fossil fuel burning plants, and enable the grid to carry 60% renewable content annually.
Miller said the percentage is up for debate, but battery storage will definitely enable more renewable content.
His response to Younicos’ claim that 5 MW of battery storage can displace 50 MW of conventional energy was an emphatic “Yes.”
“An energy storage device can provide resources both up and down, so it can source 5 MW and also you can charge the battery,” said Miller. “So it becomes a resource in both directions, as opposed to a spinning reserve which can only go in one direction.”
“You also asked if battery storage could replace peaking power plants and the answer is ‘yes,” he added. “We have a significant amount of generation online whose only job is to take care of the peaks as they occur. Energy storage is much more efficient.”
It can significantly reduce individual customer’s bills by shaving off demand and peak power.
Energy storage can do the same thing for utilities. Currently, an infrastructure that transmits 8 gigawatts normally has to be built out to 19 – transformers, cables and everything – to be able to deal with a 19 gigawatt peak.
“If you could place storage strategically throughout the network so that you took care of those 8 gigawatts appropriately, you would not have to build up such a large infrastructure,” said Miller. “This would amount to significant savings globally across the grid.
Energy Storage Will Replace Many Peaker Spinning Reserve Plants
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November 6th, 2014 by Roy L Hales
An interview with Troy Miller of S&C Electric
Originally Published in the ECOreport
The 150-kW storage system that S&C Electric installed at its Chicago headquarters is a model for the future. They needed a working demo to show their customers how they would benefit from energy storage. They can see how you can reconfigure the network if there is an induced fault. There is a small working demo of PJM’s frequency regulation market. The move to battery storage is inevitable, and enables the incorporation of much larger amounts of intermittent energy such as wind and solar. Troy Miller, S&C’s Manager, business development Power Quality Products, explained why battery storage will replace many peaker spinning reserve plants.
In North America, electric power is generated at about 60 Hz.
As electricity is more intermittent, fuel-powered plants are kept idling to ramp up quicker when there is a need for more power. They take minutes to respond and, in many cases, it has taken more than 20 minutes to minimize the mismatch between generation and loads.
“One of the benefits of energy storage is that it can respond in less than two seconds across the board,” Miller said. “If you are responding in seconds, you can take care of irregularities before they become a bigger problem,” he added. “If you have a frequency excursion and you arrest that excursion, then you remove the need for much of the spinning resources to take care of the secondary event.”
“So a comparatively small amount of energy storage that acts fast can displace a larger amount of spinning reserve generation,” he said.
Younicos, in Germany, claims battery storage technology can take the place of 25 fossil fuel
I didn't pour money down any drain and yes, most investors are very stupid, especially M Murphy subscribers.
First, If you pay off a note, your book value remains the same.In your focus away from alternatives, please tell me why PLUG is up 4% today.? It is obvious you have little understanding of the applications here. How much has propane dropped? Are they switching forklifts over to oil? Have they stopped letting water over dams because oil has dropped? Do you have any idea how much the cost of solar has dropped? You need to go back to school and get an education.
In all of PLUG's contract the terms weren't disclosed. This contract is about the same size as PLUG's first contract.
I Bought AXPW heavily today. I bought PLUG about a year ago at around 20-25 cents a share. It had a market cap of about $25-30 million. Look at PLUG now! Its market cap went over a Billion Dollars (where I sold). I made about 35 times my investment. PLUG, like AXPW, was a Michael Murphy recommendation about 5 years ago but his people gave up on it and all lost money and bailed, just like they did here. I see people posting about dilution but there is no dilution for people buying here. This is trading in the 2.7 cent range pre-split. They have $7 million in cash yet market cap is only $9.5 million. AXPW is trading at .74 times book here! Just like PLUG, it will only take one more contract and the stock will soar and I am aware of a large contract that if they get it, should double the stock price. AXPW batteries are cheaper than PLUG's fuel cells and will perform as well as PLUG's fuel cells. If you are throwing your shares away at this price, you are crazy. BTW-Thank you to all who sold to me today!
They are trading at a PE of 10 based on this quarter (and had depreciation and amortization of almost a billion dollars this quarter that reduced those earnings). They also had $879 million in cash flow from operations. It's obvious how underpriced the miners are! I wouldn't be surprised to see Buffet buying a position in the miners here (I know he doesn't like holding gold but he loves cash flow operations - just like he doesn't fill his closet with shoes but still buys plenty of Nike stock) It's now up 1.33% after hours as people start to sober up.
Everyone knew yesterday, the day before, and last week and last month that the Fed would be raising rates in 2015 so what has changed today?BTW-(consensus has changed by 1 month) Gold miners are so oversold and so heavily shorted that it will take 1 geopolitical event and they'll pop 10-15% overnight (NUGT will jump at least 30%). It could happen this weekend!
Everything -GDX, GDXJ, and lots of NUGT This is once a year (or maybe multi-year) opportunity. Gold drops 2% and they are throwing away the miners. Buy when there is blood in the streets!