Tag: Gas

U.S. Strategic Petroleum Reserve Falls To 35-Year Low as American crude heads overseas at a record pace

Tina Marie (Ms. Cat)

U.S. Strategic Petroleum Reserve Falls To 35-Year Low

According to the Institute of Energy Research, the SPR is expected to shrink to a 40-year low by the end of October, with inventories then at 358 million barrels, compared to 621 million barrels a year ago.

Related:

US oil exports to China and India jump as American crude heads overseas at a record pace

The only thing that climbed as high as gas prices earlier this year was the disapproval of US President Joe Biden 😂

Biden was wrongly blamed for rising gas prices. But he doesn’t deserve much credit for the drop

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up

Tina Marie (Ms. Cat)

The writing is on the wall for Europe in terms of this coming winter – It’s going to get ugly. With natural gas imports from Russia cut by 80% through Nord Stream 1 along with the majority of oil shipments, the EU is going to be scrambling for whatever fuel sources they can find to supply electricity and heating through the coming winter. Two sources that were originally suggested as alternatives were Iran and Venezuela.

Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up

Related:

Venezuela: Oil Production Declines as Shipments to Europe Suspended

Caracas’ oil operations were affected by mechanical disruptions caused by alleged attacks against oil facilities. On July 16 a natural gas pipeline explosion and a power outage interrupted PDVSA’s supply to its main crude production and export hub, the José Antonio Anzoátegui industrial complex in eastern Venezuela.

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With the operational disruption depleting Venezuela’s lightest oil grade stocks, Iran recently began to increase its supply of 29.5°API blend, a lighter alternative to Venezuela’s 16°API Merey, in order to boost fuel production and free domestic upgraded blends for exports.

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However, anonymous sources revealed that Caracas might suspend crude cargoes to Europe while the industry recovers from recent setbacks. PDVSA is reportedly negotiating the terms of the oil-for-debt agreements with Eni and Repsol to receive fuel while still settling long-standing debts owed to the two companies.

Neither Venezuela’s Oil Ministry nor PDVSA has issued statements confirming the alleged halted shipments to Europe or the renegotiation of the swap deals.

Bill Gates and the Secret Push to Save Biden’s Climate Bill

Tina Marie (Ms. Cat)

Bill Gates and the Secret Push to Save Biden’s Climate Bill

Gates started wooing Manchin and other senators who might prove pivotal for clean-energy policy in 2019 over a meal in Washington DC. “My dialogue with Joe has been going on for quite a while,” Gates said. “Almost everyone on the energy committee” — of which Manchin was then the senior-most Democrat — “came over and spent a few hours with me over dinner.”

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Also at Manchin’s insistence, automakers also will see new strings attached to electric vehicle tax incentives so they will have to be made in North America and, by 2024, can’t use batteries sourced from China. Labor leaders bemoaned that the final package doesn’t contain much support for workers who lose their jobs in the green transition.

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There’s been such whiplash from 2016 when, as Gates puts it, green spending from the US government “had dropped to near zero.” Six years later, American climate finance has been “reinvigorated,” and Gates now sees innovation “going way faster than I expected. That’s why I’m optimistic that we will solve this thing.”

The working class is going to be thrown under the bus, but at least Bill Gates is happy. 🤷🏼‍♀️

U.S. “Waited and Watched” as Cuba Fought Deadly Blaze

Tina Marie (Ms. Cat)1 Comment

Aug 15, 2022 – When a catastrophic fire in Matanzas threatened Cuba’s fuel supply, other countries rushed to help. What did the world’s most powerful country offer Cuba? A phone call. The lack of U.S. support has sparked outrage. And its crushing sanctions have limited Cuba’s ability to respond.

Video via Belly of The Beast Cuba

Related:

While Cuba Deals with Blazing Fire, the U.S. Heartlessly Watches and Waits

House Dems Urge Biden to Provide Assistance to Cuba Amid Fire Disaster

At Least 1 Dead and 121 Injured in Fuel Storage Depot Fire in Matanzas, Cuba

The Cuban president stated in a tweet, “We express deep gratitude to the governments of Mexico, Venezuela, Russia, Nicaragua, Argentina and Chile, which have promptly offered solidarity and material aid in the face of this complex situation. Cuba also appreciates the offer of technical advice from the United States.”

China Heralds Another Major Oil Discovery

Tina Marie (Ms. Cat)1 Comment

China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves.

The discovery is the result of exploration in the Shunbei oil and gas field, said to be one of the deepest commercial fields in the world, in the country’s Xinjiang region.

China Heralds Another Major Oil Discovery

Related:

*Xinjiang*

Chinese Oil Giants Sinopec And PetroChina To Delist From NYSE

The Energy Industry in Xinjiang, China: Potential, Problems, and Solutions

How oil has shaped Xinjiang

Vast oil deposits discovered in Xinjiang

I’m sure Halliburton would love to get their hands on that oil! Oh wait, that was Iraq!