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kmi

kmi
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  • Most Keystone XL crude would stay in the U.S., report says [View news story]
    That's a global growth chart. US demand has been mostly flat, it may perk up a bit with declining prices, but it's been mostly flat for a long time now. Therefore, you must be more interested in global demand, which reinforces the point that the pipe is mostly as a conduit for Canada to export its oil into the world market. Perhaps there's some value to US refiners in obtaining cheap Canadian crude to refine and export, but that would be a case of creating domestic policy to the benefit of a very, very small subset of interested parties, which isn't how policy works - or how it should work anyway.

    I'm agnostic on this - I don't care either way, but so far you haven't convinced me. Neither have the project's opponents though, so there's that.
    Feb 26, 2015. 03:34 PM | Likes Like |Link to Comment
  • U.S. West Coast refinery profit margins jump [View news story]
    Also the moves in opposite directions of crude and heating oil...
    Feb 24, 2015. 09:12 PM | Likes Like |Link to Comment
  • Most Keystone XL crude would stay in the U.S., report says [View news story]
    In 2013 US consumed as much oil as it did in 1998.

    Demand growth is mostly at or close to zero in most of the developed world.
    Feb 24, 2015. 05:22 PM | Likes Like |Link to Comment
  • Greece sends reforms before deadline [View news story]
    Euro-region finance ministers approved Greece’s package of new economic measures and paved the way for an extension to the country’s bailout agreement.

    http://bloom.bg/1JH3519
    Feb 24, 2015. 09:28 AM | Likes Like |Link to Comment
  • Greece sends reforms before deadline [View news story]
    17741882 - The 'Borat' comment - and movie - is more a critique of US ignorance and isolationism than it is a critique of the people and mores of other nations. There's no reason to be upset.

    If it upsets you I'd take a moment to consider that the US can't even pass a budget to defend its borders (the current Homeland Security funding issue). Europe isn't the only place full of dysfunctional governments.
    Feb 24, 2015. 08:30 AM | 1 Like Like |Link to Comment
  • Greece sends reforms before deadline [View news story]
    Just you.
    Feb 24, 2015. 07:20 AM | 1 Like Like |Link to Comment
  • Greece sends reforms before deadline [View news story]
    Greece's control over the reform package was the most important item they wanted, which they got. From Varoufakis statement 2/11:

    We want to revive infrastructure projects with public and private investors and the support of the EU. Indeed, we have some innovative ideas of our own that may help mobilize idle savings into productive investments throughout the Continent, in support of the current efforts of the Commission to enhance investment and of the European Central Bank to stem deflationary forces.

    On privatization and the development of publicly owned assets, the government is utterly undogmatic; we are ready and willing to evaluate each and every one project on its merits alone. Media reports that the Pireus port privatisation was reversed could not be further from the truth.
    Quick fire sales of public property, at a time when asset prices are deeply
    depressed, is not something that anyone would advocate.
    Instead, the government will create a development bank which will incorporate state assets, enhance their equity value through reforming property rights and use them as collateral for the purposes of providing, in association with European investment institutions such as the European Investment Banks, funding to the Greek private sector.

    We want to take additional measures to clean-up non-performing loans in the banking sector to render the banks able to support SMEs and households.

    Several misleading reports have caused misunderstandings with our partners by insinuating that we have rolled back previous reforms and added to our state budget. On the contrary, the measures announced by the Prime Minister with respect to rehiring tax office cleaners, school guards and the staff of the public broadcasting network: (1) have no adverse effect on competitiveness and (2) have no fiscal bearing as they will be paid for entirely by other savings in the state budget. For example, the wrongfully dismissed staff that will be rehired number 2013 people, a tiny number that must be juxtaposed against the 15 thousand hirings that are already inscribed in the 2015 budget that the previous government passed.

    On two other emotive topics, let me clarify that the restoration of the pension cuts we announced concern pensioners living at or below the poverty line and comes up to less than 2 euros per day per eligible pensioner – at a grand total of around 9.5 million. The reason we made this announcement is one that I shall return to, as I must, during our discussions: The appalling humanitarian crisis caused by the debt-deflation.

    On the minimum wage, the government will phase in its restoration to the 2012 level gradually, from September onwards and after consultation with employers and trades unions. As it applies only to the private sector, its fiscal impact will be, if anything, quite positive, as its multiplier effect is large and likely to boost tax revenues beyond the affected employees. Will it reduce competitiveness of the private sector? The government commits to reforms, e.g. in social security, reducing the tax wage that will ensure it does not.
    Feb 24, 2015. 07:16 AM | 2 Likes Like |Link to Comment
  • Greece sends reforms before deadline [View news story]
    Syriza formed a government jointly with ANEL which is the most right wing you get before hitting the fascist Golden Dawn, which still pulled 6% in the last election. Since ANEL is clearly backing Syriza in the current negotiations there is no option on the right short of GD.

    Greek interpretation of current moves is that Greece had zero bargaining power and somehow still managed to secure concessions; that Greece was being pushed to exit and Greece managed to stay. So Greeks view this as a victory even with Syriza/ANEL walking back some of their requests.

    Also some of the unpopular items the Samaras government was preparing to implement were rolled back by Syriza, which may be why it enjoys such popularity.
    Feb 24, 2015. 07:07 AM | 1 Like Like |Link to Comment
  • Most Keystone XL crude would stay in the U.S., report says [View news story]
    Declining oil demand in the US? No forseeable demand growth in the US? US shale covering any potential demand growth in the US?
    Feb 24, 2015. 06:55 AM | Likes Like |Link to Comment
  • Historical Correlations Of Oil To Coal Suggest We Won't Be Seeing A Return To $100 Oil Anytime Soon [View article]
    Bookmarked; excellent work here.
    Feb 23, 2015. 02:09 PM | Likes Like |Link to Comment
  • Awash In Crude: Are Inventories The Only Thing That Matters? [View article]
    "China actually will use more coal than today even the percent will be decreased"

    Yes it will. It will use more energy from all sources.
    Feb 23, 2015. 12:56 PM | Likes Like |Link to Comment
  • Awash In Crude: Are Inventories The Only Thing That Matters? [View article]
    Tony, it isn't just China, but since China is the largest center of oil demand growth it definitely helps looking there first.

    The UK (Scotland England Wales and Ireland) and multiple nations in the EU - likewise large consumers of energy - have also made commitments to increasingly source their energy from alternatives to fossils. But more important than the EU or China is currently developing nations like Bangladesh and Kenya which - in a break with what used to happen - have been increasingly turning away from diesel generators to other sources. Or for that matter Israel - which has been seeing a dramatic drop in its consumption of diesel for generators.

    My point is this: the worldwide demand growth for oil is dropping, and the supply already exceeds demand. Oil's going to need to get cheaper by far than its alternatives if its going to hang on, and that isn't at $50. It's at least under $40, and who knows where the actual floor is.
    Feb 23, 2015. 12:45 PM | 2 Likes Like |Link to Comment
  • Awash In Crude: Are Inventories The Only Thing That Matters? [View article]
    Well commonsense, you could perhaps read the following:

    "The Chinese government plans to cap coal use to below 65% of total primary energy consumption by 2017 in an effort to reduce heavy air pollution that has afflicted certain areas of the country in recent years. The Chinese government set a target in its 12th Five-Year Plan to raise non-fossil fuel energy consumption to 15% of the energy mix by 2020 in efforts to ease the country's dependence on coal. EIA projects coal's share of the total energy mix to fall to 63% by 2020 and 55% by 2040 as a result of projected higher energy efficiencies and China's goal to increase its environmental sustainability."
    Feb 23, 2015. 12:26 PM | 1 Like Like |Link to Comment
  • Awash In Crude: Are Inventories The Only Thing That Matters? [View article]
    The crucial item in transportation is average MPG of vehicles on road and it's also a long term metric since the vehicles most likely to get junked are the least efficient, older, ones. Average mpg also gets a boost from regulation - as in rising mpg minimums - and electrics/hybrids, which are assigned mpg equivalents.

    The huge mismatch in price between oil-ng for the last few years created a lot of momentum in Europe and Lat Am for NG powered vehicles.
    Feb 23, 2015. 11:43 AM | Likes Like |Link to Comment
  • Awash In Crude: Are Inventories The Only Thing That Matters? [View article]
    All of those prices vary from country to country and depend on each country's infrastructure, but I get that you aren't honestly interested in that, you think you are making a point.

    Following your example, I'll also make a point without being precise:

    "China boosted its installed wind energy capacity last year to a record 19.81 million kilowatts as the world's biggest greenhouse gas emitter tries to switch its power grid to cleaner energy sources.

    The National Energy Administration said Thursday that wind farms produced 153.4 billion kilowatt hours of electric power in 2014, making up 2.8 percent of total generated electricity.

    Last year's installed wind power capacity represented a 23 percent jump from the 2013 level of 16.09 million kilowatts.

    In November, the government pledged to produce 20 percent of the country's total energy through non-fossil fuels by 2030, doubling its current level, while capping growth in its carbon emissions by the same year, it not earlier.

    Read more at: http://bit.ly/1Beilik
    Feb 23, 2015. 11:34 AM | Likes Like |Link to Comment
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