I generally appreciate what Alex Kimani has to say but the conclusions he draws are ludicrous and worse, he presents no time line in his most recent essay.
The question: how close are we to peak oil demand?
The answer was never provided. It never is.
The question is not "how close are we to peak oil demand" but whether there will ever be a supply / demand imbalance that will scare the crap out of the Germans?
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Exhibit A
China signs yet another deal to buy 0.7 million tons of LNG from Energy Transfer's proposed Lake Charles export plant for twenty-five years.
Roughly nine (!!) LNG supply deals between the US and China were inked last year.
Everything else is white noise.
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Sunday Night Futures
Oil:
- Brent: $120.30.
- WTI: $119.50 (but it has been as high as $120.30 this evening).
- the spread is less than a dollar.
I'm lovin' it.
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