Sunday, April 14, 2024

One Wonders If Qatar Is Watching -- Update On Costa Azul -- April 14, 2024

Locator: 47008NATURALGAS.

 
I track Coast Azul here. Update: project was delayed; now, June 6, 2026, production has begun. Links everywhere.

Link here but I'm sure there are many links elsewhere.

San Diego-based Sempra Energy is targeting summer of 2025 as the commercial operations date for its 3.25 mtpa (0.43 Bcf/d) nameplate capacity Energía Costa Azul (ECA) LNG Phase 1 project, located in Ensenada in Baja California, Mexico. The project will source U.S. gas.

This is a must-read, NY Times, February 13, 2024. Truly incredible.

As soon as next year, the United States’ fossil fuel industry will gain its first foothold on a valuable shortcut to sell natural gas to Asia. The shortcut goes straight through Mexico.

The new route could cut travel times to energy-hungry Asian nations roughly in half by piping the gas to a shipping terminal on Mexico’s Pacific Coast, bypassing the traffic- and drought-choked Panama Canal.

The terminal is symbolic of an enormous shift underway in the gas trade, one that will influence fossil-fuel use worldwide for decades and have consequences in the fight against climate change.

The American fracking boom has transformed the United States into the world’s largest gas producer and exporter. At the same time, the rest of the world has begun using ever more gas — in power plants, factories and homes — partly to move away from dirtier fuels like coal. Demand is particularly growing in China, India and fast-industrializing Southeast Asian countries.

And more, with a map, whoo-hoo! :

In Mexico, the action is centered for now on a gas terminal, Energía Costa Azul, that was originally designed to send gas in the other direction: For more than a decade it has unloaded gas from Asian tankers and piped it to California and Arizona to be burned to produce electricity.
Fracking changed everything.
Now Costa Azul, pinched between Baja California’s agave-covered mountains and the vast Pacific Ocean, is undergoing a $2 billion transformation into an export facility for American-produced gas. It’s the first in a network of gas exporting facilities planned down Mexico’s West coast.

The Day After Iran Launches A Full-Scale Attack On Israel -- Then Calls For A Time-Out -- And Biden Is Said To Have Told Israel -- One Of Our Most Important Allies In The Mideast -- If You Attack Iran You're On Your Own -- Saudi Tells Both Iran And Israel To Chill -- April 14, 2024

Locator: 47007NEVERMIND.

April 14, 2024, 7:13 p.m. CDT: 

 


US debt. What am I missing here?

Over 300 Iranian missiles and drones launched toward Israel. No Israeli casualties except one 7-year-old girl with shrapnel to a leg. First reports.

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Never Quit Reading

A must-read essay in current issue of The Atlantic. Notes here.

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Judah in Portland, Oregon

Four years old. 

He has his driving gloves on and ready to drive the SW Broadway Drive, Portland.

Reminder: Vern Whitten Photography -- Drilling, Fracking -- The Bakken

Locator: 47006VERNWHITTEN.

Link here.

Just one of so many incredible photos of the upper Midwest. One of my favorites, the fork in the road:

Again, these photos are incredibly wonderful birthday gifts. 

Vern Whitten Photography

Also has a Facebook page.

US Economy -- April 14, 2024

Locator: 47005ECONOMY.

Updates

Later, 7:13 p.m. CDT: 

 


US debt. What am I missing here?

Original Post

Link here. 

It has been two years since forecasters felt this good about the economic outlook. In the latest quarterly survey by The Wall Street Journal, business and academic economists lowered the chances of a recession within the next year to 29% from 39% in the January survey.
That was the lowest probability since April 2022, when the chances of a recession were set at 28%.
Economists, in fact, don’t think the economy will get even close to a recession.
In January, they on average forecast sub-1% growth in each of the first three quarters of this year. Now, they expect growth to bottom out this year at an inflation-adjusted 1.4% in the third quarter.
Just 10% of survey respondents think the economy will experience at least one quarter of negative growth over the next 12 months, down from 33% in January.

Americans have money to spend: it's difficult to imagine that the US will go into recession any time soon.

Link here.

At the link for the above graph, a lot of whiners suggest they are victims of media-induced vibecession.

I remember the year, 1973, I hitchhiked to Europe and the incredible years we had in Europe -- the 1980s -- while in the military. Why did we have it so good. We had such a strong dollar we could buy so a lot of foreign currency with one buck.

Today?

From Reuters, link here:

Thank you, Mr Biden.

Schooled. Meanwhile, Milton Friedman vs Phil Donahue, link here:

Inflation Watch: Electricity Vs Starbucks -- April 14, 2024

Locator: 47004ELECTRICITY.

Tag: inflation.

This is why I created a tab for the US electricity grid. This will be fascinating to follow for the next decade.

Link here.

Everyone who knows, knows.

(280-210)/210 = 33% increase, 2024 over 2021.  

33% over three years.

Starbucks? 33% over 10 years.

Don't even get me started.

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Texas Wind

Link here.