Showing posts from December 6, 2020

US Oil Inventories: sudden hike may affect oil price

The US crude stocks, according to the EIA, the Energy Information Administration data, have gone up by a few million barrels, bucking the trend that was downward for months. Since this is a major factor in determining the crude oil price, its effect will be felt in the oil markets in the coming days. It means the oil rallies that we witnessed so far may become relatively static. It doesn’t mean yet another crash; on the contrary, it will be back on upward trend in a few weeks. The uncontrollable Coronavirus infection rate in the US may be a contributing factor for inventory-build up in the US. Apart from that, no global factor, significant enough for causing a major impact, is not at play at present. Since the US health regulator gave the green light for the Pfizer vaccines, the mood, both among the general public and the investors, will change in proportion to the promised results of vaccination campaign. There are, meanwhile, some countries in the world that do not show any

Energy from Renewable Sources: it's still just 11% in the US

The above graph shows that the energy obtained from renewable sources in the US was just 11% in 2019, despite the growing enthusiasm for going green. It's almost a three-fold increase since what it was in 2000; however, it was not impressive enough to see the end of the usage of fossil fuels. As of 2019, the energy from fossil fuels was a staggering 69%. Bringing it down, even down to 50%, in a matter of few years is just wishful thinking; it will take decades to change the status quo. Of course, measures are in place in the US to cut down on CO 2 emissions. As the above data shows, turning its back on the fossil fuels is still just a distant dream. That's why a report-after-report indicates that fossil fuels are here to stay for decades to come.  Since the emission of CO 2 and its impact on the environment is undeniable, the fossil fuels producers will be compelled to take the concept of minimizing the damage much more seriously in order to stay relevant - in this context

Challenges against the Green Energy: wind turbines

  Wind turbines are propping up along certain shore lines – off-shore as well – in proportion to our Green ambitions. They do make some contribution to the national grid of the country in question. Of course, there is sizeable opposition to the project on aesthetic grounds; they just spoil the landscape. In addition, they make lots of noise, unless they are off-shore. If the blades are very long, accidents may happen too. Even if you overcome the human opposition, nature has its own limitation in place to keep our ambitions in check. A wind turbine turns the energy of wind, known as kinetic energy, into electric energy with the aid of a generator fixed at the top of the monument. We, however, can only get less than 59% of the energy carried by wind, known as Betz’ Limit. Albert Betz, the German physicist, observed in 1919 that there is a upper limit to the change of energy from kinetic to electric, which became known as Betz’ Limit. That means the waste of energy of a wind

WTI Crude in Irreversible Recovery - finally!

Defying some analysts, crude oil price has stabilized despite the second wave of the Coronavirus pandemic.  For over three successive weeks, WTI crude price remains above $40.00 and there are no signs of yet another nose-dive that we saw at the beginning of the first wave of the pandemic. Not only is it encouraging news for the countries which heavily rely on powering up their economic engines, but also for millions of human being whose livelihood entirely depends on it. The forthcoming change in the US administration, possibility of relaxing international sanction on Iran, warming relations between Israel and its powerful Middle Eastern neighbours and the signs of a lasting solution to Libya’s political crisis are some of the factors, among many, that made their individual contribution to the rally. Although irresponsible behaviour of some individuals, especially young shoppers who flock near major department stores may, trigger off even a third wave of the pandemic, oil price recove

Crude Oil: latest news