An Alternative Take -- May 1, 2019

Crudehead over at twitter.

SOLVED:

• For US shale production to grow, it needs more Canadian crude (FALSE) 
• But for Canadian crude to grow, it needs US shale too (FALSE) 
• For both to grow, they need pipelines (CORRECT) 
• Wind and solar do not replace oil (random fact but CORRECT)

From twitter, anyone "believe" this granularity? LOL:

OPEC crude output rose by 25,000 b/d to 30.3 million in April: BBG survey OPEC's volatile politics led to steady oil production last month. Libya’s gains offset losses from sanctions against Iran.

Libya, Iran, Venezuela? It's all background noise.

But back to that granularity: 25,000 / 30.3 million = 0.000825 or 0.0825%.

And then this, against global production of 100 million bopd, that 25,000 bbls = 0.00025 or 0.025%.

Speaking of which, atmospheric CO2 for the month of May will be released later this month. It could be released today but "they" need to go through and massage the data.

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Venezuela

Twitter today: Guaido flops.

Bolton's Bay of Pigs?