Tariffs: China "already" has a 16% tariff on soybeans. If we're talking "free trade", why is there a tariff on soybeans at all, anywhere? If China has a 16% tariff on soybeans, and the US has a 10% tariff on Chinese steel, are we getting closer to "free trade"? In the eyes of the beholder obviously.
Brazil oil: could Brazilian oil go the way of Venezuela? Unlikely, but ...
Global warming --> climate change --> air pollution: this is pretty cool. Apparently this transition has been in the background for quite some time, but I had not noticed it until yesterday. I did not keep the link. We are all aware that when "global warming" hysteria was not working, the faux environmentalists morphed the scare to "climate change." Now, the preferred term, apparently, is "air pollution." I was reminded of that when I was getting on my bike to ride to our local homeless shelter. All of a sudden, a huge clap of thunder and a huge downpour. I didn't check the weather forecast last night, but the day before there was nothing in the weather forecast to suggest any rain today. The forecast was a possibility of some rain east and southeast of here on Friday night and Saturday morning but by Sunday, back to hot weather and more of the same -- hot, sunny weather -- Monday (today). The rain was so heavy I had no option but to drive, and the rain was so heavy, there were moments when the windshield wipers couldn't keep up. The local weather forecasters did not know of this downpour two nights ago, but they know, with 100% certainty, that the earth will be 2 degrees warmer one hundred years from now. [Later: yes, as others join me in the homeless shelter, the opening greeting -- "Well, that was quite a surprise rain storm. And to think the earth is going to be 2 degrees warmer one hundred years from now."]
Star Trek: no what bothers me most this morning? The original Star Trek television series, to the best of my knowledge, never addressed global warming. How was that missed. Nor, apparently did 2001: A Space Odyssey or Planet of the Apes.
Oil production, US: see next entry from Carpe Diem --
- US oil production:
- 2008: 5.2 million bopd
- 2018: 10.4 million bopd
- note to self: send letter to Jane Nielsen
- US renewable energy production:
- 2017 (a year ago): solar, 77 terawatt-hours; wind, 254 terawatthours
- combined total: 331 terawatt-hours
- equivalent of 1.5 million bopd
- since 2008, the increase in energy production from oil and gas is equal to seven times the energy output of all domestic solar and wind (per the article linked below)
- comment: there seems to be a typo and an incorrect "reading" of the graph but the underlying point is well-taken
Climate-change activists like to claim that renewable energy can power the entire economy and that we should “do the math.” I couldn’t agree more — on the math part. In 2008, US oil production was about 5.2 million barrels per day. Today, it’s about 10.2 million barrels per day. In 2008, domestic gas production averaged about 55.1 billion cubic feet per day. Today, it’s about 87.6 billion cubic feet per day. That’s an increase of about 32.5 billion cubic feet per day, which is equivalent to about 5.5 million barrels of oil per day. Thus, over the past decade, US oil and gas output has jumped by about 10.5 million barrels of oil equivalent per day (see chart).
Let’s compare that to domestic solar and wind production which, since 2008, has increased by 4,800 percent and 450 percent, respectively. While those percentage increases are impressive, the total energy produced from those sources remains small when compared to oil and gas. In 2017, US solar production totaled about 77 terawatt-hours and wind production totaled about 254 terawatt-hours, for a combined total of 331 terawatt-hours. That’s the equivalent of about 1.5 million barrels of oil per day. Simple division (10.5 divided by 1.5) shows that since 2008, the increase in energy production from oil and gas is equal to seven times the energy output of all domestic solar and wind.
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Back to the Bakken
Active rigs:
| $65.40↓↓ | 6/4/2018 | 06/04/2017 | 06/04/2016 | 06/04/2015 | 06/04/2014 |
|---|---|---|---|---|---|
| Active Rigs | 60 | 51 | 25 | 81 | 193 |
RBN Energy: natural gas basis implications of Permian production and Takeaway capacity.
The original Star Trek series did not present any global warming stuff, but I do recall scanning some early industrial planets with Spock commenting on the presence of industrial gases in the atmosphere on some less developed planets. Dilithium crystals did not contribute to climate change, tot he best of my knowledge.
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