Locator: 48139ENERGY.
Ammonia fuel carriers: huge surge in interest. Maersk tankers and competitors bet billions on ammonia fuel carriers; owners place $16 billion of orders for ammonia, gas carriers. Maersk, Japanese, and Greek owners investing in this sector. Link here.
Copper: vehicle electrification -- EVs -- requires 55% more copper mines by 2050. Link here.
US energy production / consumption spread widens. Link here.
US oilfield jobs: looking good.
Global oil demand: keeps surging. Link here.
And with global warming, demand will only increase. Exhibit A -- Saudi Arabia, link here.
From the linked article:
Saudi Arabia boosted imports of the dirtiest type of oil to the highest in more than three years to help meet power demand during the scorching summer.
Shipments of fuel oil rose in June to the most since at least the end of 2020, and are expected to remain elevated this month, according to data from market researchers Kpler and Vortexa. Purchases, which typically jump during the hottest months as air conditioners crank up, have risen as much as fourfold since March to about 350,000 barrels a day, according to Vortexa.
Saudi Arabia is the region’s biggest buyer of fuel oil, a type of dirty product that’s left over after refineries produce transport fuels like gasoline and diesel. It also burns crude oil directly to produce electricity, which likely contributed to the kingdom’s exports dropping to a 10-month low of about 5.6 million barrels a day in June, according to data compiled by Bloomberg. Fuel oil is mostly sold at a discount to crude since it’s heavier and more polluting.
Temperatures in Riyadh hovered in the mid-40Cs this week, according to AccuWeather, and can top 50C (122F) in the summer. The heat drives demand for electricity to power air conditioners, which in turn forces the kingdom to burn more oil.
And then there's AI, so it won't only be global warming driving energy demand. AI? Take a look at Taiwan. Link here.
And Taiwan's "woke" politicians appear to be asleep at the wheel. Link here.
And more, link here:
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