Trump: Oil Has Become “Less Valuable Than Water”

By Associated Press – Re-Blogged From Headline Wealth

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Wednesday related to the global economy, the work place and the spread of the virus.

THINGS WE VALUED: The outbreak has reshuffled the pecking order of what holds value and there are few places where that is more evident than oil.

Over the last quarter the price of crude has fallen harder than at any point in history, plunging almost 70%, to around $20 per barrel. Those are levels not seen since 2002.

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The Out Has Not Yet Begun To Fall

By Keith Weiner – Re-Blogged From Gold Eagle

So, the stock market has dropped. Every government in the world has responded to the coronavirus with drastic, if not unprecedented, violations of the rights of the people. Not to mention, extremely aggressive monetary policy. And, they are about to unleash massive fiscal stimulus as well (for example, the United States government is about to dole out over $2 trillion worth of loot).

The question on everyone’s mind is what will be the consequences?

The standard analysis is that governments will print massive amounts of money. And, this will, of course, cause massive inflation (i.e., skyrocketing consumer prices). There’s just one problem with this analysis.

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Conservatives Are the Real Environmentalists

[Fracking frequently is used following horizontal drilling, but they are two separate concepts.  –Bob]

Environmentalists are certain conservatives don’t care about clean air and clean water; that they’re happy to trade the planet for profit. Is it true? Do conservatives really care more about green pockets than green forests? Michael Knowles offers a much-needed new perspective.

Please watch the VIDEO

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Weekly Climate and Energy News Roundup #403

The Week That Was: March 21, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Quote of the Week: “There must be no barriers to freedom of inquiry… There is no place for dogma in science… And we know that as long as men are free to ask what they must, free to say what they think, free to think what they will, freedom can never be lost, and science can never regress.” – J. Robert Oppenheimer [H/t Paul Redfern]

Number of the Week: 365.2422 days.

Fiasco in the Making? Writing in Stat, epidemiologist John Ioannidis of Stanford University emphasizes the need for solid data to address the coronavirus disease, Covid-19. Ioannidis is co-director of Stanford’s Meta-Research Innovation Center, which is dedicated to improving the quality of scientific studies in biomedicine. He writes:

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The Energy Disaster Kicking Into Full Gear

By SRSrocco – Re-Blogged From Gold Eagle

There’s more evidence finally surfacing in the media of the dire energy predicament the world is now facing.  The negative ramifications of peak oil and the falling EROI were going to hit the world economy within the next 2-5 years, but the global contagion has sped up the process considerably.  Unfortunately, the world will never return back to the energy consumption and GDP growth experienced in 2019.  I believe the peak of unconventional oil production has finally arrived… FOREVER.

Here are a few highlights describing the ongoing ENERGY DISASTER taking place

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How Exactly do they Plan to Replace Fossil Fuels?

By Paul Driessen – Re-Blogged From WUWT

They want to ban coal, oil and gas. Exactly how will they replace them? Who wins? Who loses?

Berkeley, CA, Takoma Park, MD and other cities; California, Connecticut, New York, Virginia and other states; Germany, England and other countries; the European Union – all plan to banish oil, natural gas and coal within 10, 20 or 30 years. A number of US states have joined Regional Greenhouse Gas Initiatives and proudly say We Are Still Inthe Paris climate treaty, no matter what President Trump says or does.

Forget the headlines and models, and look at hurricane, tornado, sea level and other historic records. There is no crisis, no unprecedented warming or weather events, certainly nothing that proves humans have replaced the powerful natural forces that have always driven climate changes and weather events.

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US Responds to Oil Price Crash by Topping Off the Tank

By David Middleton – Re-Blogged From WUWT
Trump says U.S. to buy oil to fill up the Strategic Petroleum Reserve
By Myra P. Saefong

President Donald Trump announced Friday that the U.S. will buy large quantities of oil to fill the country’s Strategic Petroleum Reserve. “We’re gonna fill it up. It’s a good time to fill it up,” Trump said at a press conference, during which he declared a national emergency to access additional aid to cope with the spread of COVID-19. As of March 6, the SPR held a total of 635 million barrels of crude oil. Its current storage capacity is 713.5 million barrels.

[…]

Market Watch

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