Diesel use in 2015 dropped 3.7 percent from the previous year, National Development and Reform Commission said in a statement on its website. The contraction is greater than the 1.5 percent decline in 2014. Gasoline and natural gas consumption rose 7 percent and 5.7 percent, respectively.
Diesel consumption, a barometer of the country’s industrial activity, will stay flat or fall in 2016, while gasoline use will rise by 200,000 barrels a day, according to an International Energy Agency forecast last month. The country’s diesel exports surged 75 percent last year to a record.
China’s diesel demand will grow at an average annual rate of 1.3 percent through 2025 as gasoline use expands 6.2 percent, ICIS-China said last week in a report. Gasoline consumption will surpass diesel for the first time in 2024, it said.
Natural gas demand last year rose 5.7 percent to 193.2 billion cubic meters, the NDRC said Monday. A price cut in November probably helped raise sales at the end of the year, according to Tian Miao, a Beijing-based analyst at North Square Blue Oak Ltd., a research company. Consumption during the first 11 months of the year had increased only 3.7 percent, according to Tian.
“I expected natural gas sales to see a big jump in December, so it helped cover up rather sluggish sales in the first eleven months,” Tian said by phone.
CHK should make a share rights offering. That would really screw up shorty.
A consensus of longer-range computer models now show La Niña conditions emerging by around July, and should peak this winter at a moderate intensity. Though this time of year is known for its relatively less reliable forecasts of this sort, virtually every strong El Niño on record has quickly transitioned to at least a weak La Niña, and there’s no reason to believe that this year will be any different. An additional boost of confidence: A few weeks ago, NOAA researchers fixed a bug in one of their flagship long-range models, which had been showing a continuation of El Niño conditions until 2017. Since then, it’s gotten on board with the La Niña forecast, too.
So this means colder NE with reduced odds of a blizzard. Drought in Texas and colder Midwest. Amazing ski weather in the Pacific Northwest
I own some F and it should be higher. Europe doing better and better and F150s selling like hot cakes. Only pickup that passes all crash tests. New aluminum F250 bodies coming too. Cars aren't selling well though. Only pickups and SUV. But on the road car age still high and replacement should continue for some years yet
Russian President Vladimir Putin is on the verge of realizing a decade-old dream: Russian oil priced in Russia.
Quotes in the article
The nation’s largest commodity exchange, whose chairman is Putin ally Igor Sechin, is courting international oil traders to join its emerging futures market. The goal is to increase revenue from Urals crude by disconnecting the price-setting mechanism from the world’s most-used Brent oil benchmark. Another aim is to move away from quoting petroleum in U.S. dollars.
If Russia is going to attract international participation in Russian-based pricing, the Kremlin will need to persuade traders it’s not simply trying to push prices up, some energy analysts said. The government is dependent on oil revenue to fund its budgets.
“The goal is to create a system where Russian oil is priced and traded in a fair and straightforward way,” said Alexei Rybnikov, president of the St. Petersburg International Mercantile Exchange, or Spimex, in a phone interview.
From the university website.
Who funds your project? Are you funded by a fracking company? We are not funded in any way by energy or fracking companies or by anti-fracking groups. Our funding comes from two non-profit, philanthropic organizations, the Deer Creek Foundation and the Alice Weston Foundation. We also receive private donations from individuals.
Not quite true. The Deer Creek Foundation has a history of anti-oil and anti-fracking monetary support. So who's funding that foundation? And they are the ones who were "displeased" with the results of the study.
I don't know why anyone would fund a hedge fund. Iffy iffy iffy. Over time index beats hedges. But it shows that hedge fund attitude towards the dollar and oil has changed. No fed increase today will keep things flowing in the right direction. Dropping dollar and higher oil.
I just saw the short video of the presentation in early February. The conclusion was that methane in the wells did not come from natural gas and that more well drilling did not contribute to the methane. Shorty funding abandoned afterwards, project suppression, and full fledged covering commenced. How about that.
A three-year study by the University of Cincinnati in Carroll and surrounding counties determined hydraulic fracturing, or fracking, has no effect on groundwater in the Utica shale region, is not being released to the public.
Dr. Amy Townsend-Small, the lead researcher for the University of Cincinnati Department of Geology, released the results during the Feb. 4 meeting of the Carroll County Concerned Citizens in Carrollton.
During her presentation, which was videotaped and is available for viewing on YouTube, Townsend-Small stated, “We haven’t seen anything to show that wells have been contaminated by fracking.”
Rex Well March 14 WEB
A three-year study by the University of Cincinnati in Carroll and surrounding counties determined hydraulic fracturing of oil and gas wells like the Rex Energy well shown above, does not contaminate ground water.
When asked at that meeting if the university planned to publicize the results, Dr. Amy Townsend-Small, an assistant professor at the University of Cincinnati Department of Geology and the leader of the study, said there were no plans to do so.
“I am really sad to say this, but some of our funders, the groups that had given us funding in the past, were a little disappointed in our results. They feel that fracking is scary and so they were hoping this data could to a reason to ban it,” she said.
Rep. Andy Thompson, R-Marrietta, whose district includes Carroll, Harrison and Belmont counties, is calling for the university to release its findings. Thompson noted the study received state funding in the form of an $85,714 grant from the Ohio Board or Regents and federal funding from the national Science Foundation for an isotope ratio mass spectrometer.
Not since the fictitious Duke Brothers of the movie Trading Places has a bet captured the imagination of investors like the one between Warren Buffett and hedge fund manager Ted Seides. But unlike the $1 wager between Mortimer and Randolph, Buffett and Seides have a lot more money at stake.
Although he’s considered the greatest stock picker of all time and Berkshire Hathaway (BRK-A, BRK-B) is up 2,500% in the past quarter century alone, Buffett is betting on his belief that hedge funds can’t beat an index fund. And so far, Buffett is winning big.
A little more than eight years ago, Seides accepted Buffett’s challenge and picked a group of five hedge funds that he expected to collectively outperform an index fund chosen by Buffett. The winner would get $1 million donated to a charity of his choice. Each man put $340,000 in bonds that were supposed to mature to $1 million by 2018. But with the rally in bonds, they're worth closer to $1.4 million today.
Buffett’s S&P 500 (^GSPC) index fund, the Vanguard 500 Index Fund Admiral Shares (VFIAX), is trouncing the hedge funds. It was up nearly 66% from the time the bet began until the end of 2015, a return of about three times that of the funds chosen by Seides despite the fact that the index underperformed the hedge funds last year. The names of the hedge funds have not been released to the public.
Hedge funds are now betting that the dollar has peaked and oil has bottomed. Attitude change will make a big difference in prices.
More specifically, Loeb said:
*China is all over the map.
*Hedge funds were long the "FANG" stocks — Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) — and those stocks are not doing well.
"The Valeant (Toronto Stock Exchange: VRX-CA) debacle in mid-March decimated some hedge fund portfolios." (The stock lost almost three-quarters of its value during the quarter).
*The collapsed Pfizer (PFE)-Allergan (AGN) deal hurt investors.
*A "huge asset rotation" into a "market neutral" strategy.
*He thinks the dollar has peaked, and oil has hit a bottom.
In a move which could lead to continental price wars and reduce Russian market domination, the first shipment of US natural gas to the European Union arrived overnight Tuesday in the Portuguese port of Sines, an AFP journalist reported.
The first consignment of US gas for European distribution comes amid the shale gas revolution which Washington hopes will see it become a player in an EU market where Russia is currently the main supplier.
The Sines consignment designated for Portuguese firm Galp Energia (Other OTC: GLPEF - news) arrived in Creole Spirit, a cargo vessel of Houston-based Cheniere Energy (AMEX: LNG - news) .
Galp said it had bought one terawatt hour, enough for a week of Portuguese consumption or two percent of annual demand, of gas from Cheniere's Sabine Pass gas terminal in Louisiana.
Oil companies that piled into Iraqi Kurdistan after Saddam Hussein’s ouster are running into trouble, unraveling the region’s promise as a source of easy-to-drill oil and threatening Iraq’s output surge, Selina Williams reports. “Kurdistan is not easy oil,” said one oil executive whose company has worked in the region.
Assumptions about Kurdistan oil are being questioned by some companies reviewing the geology and not liking what they are finding. Gulf Keystone Petroleum Ltd. said it is running out of money to pay its debts because of low oil prices and the lack of regular payments. The fight against Islamic State has yielded some important victories in recent months, but the threat remains even as the number of foreign fighters arriving in Iraq and Syria to join the militants has declined. And there’s politics too. Matt Bradley and Ghassan Adnan report, Iraq’s parliament began voting for new cabinet ministers after thousands of protesters demanded new leaders and reforms amid soaring unemployment since oil prices plummeted.
How about his claim that there's an endless supply of oil and gas. What BS. There's only a finite supply of everything. Oil and gas is the product of millions of years of billions upon billions of animal and plant life and death. We've run through a few million years of the best of it by now. You don't replace it overnight.