I seldom send multiple e-mails per day, let alone super-quick ones, but the situation demands it.
Below the tweet above, a user sent this picture.
And the article below was just published.
NYC Billionaire Catsimatidis Warns of Looming East Coast Diesel Rationing
East Coast diesel stockpiles are the lowest on record
Diesel prices have risen 16 straight days to a new record
The diesel crisis in the US may get worse this summer with the potential of shortages and rationing on the East Coast, said billionaire refinery and fuel station owner John Catsimatidis.ย
โI wouldnโt be surprised to see diesel being rationed on the East Coast this summer,โ Catsimatidis, CEO of United Refining Co., said in a phone interview. โRight now inventories are low and we may see a shortage in coming months.โ
I have covered this recently and warned about the potential of said shortage and the coming fuel rationing before, and if now the media and CEOs of big companies are publicly announcing, it means there is a high likelihood of this event taking place.
Again, if you need something for work, or anything else, you should really think of buying it NOW, the events taking place are the cost of the last few months, and not the cost of the current lockdowns in China and everything else.
Also this one.
I hope you all have a very nice rest of the day, and be well.
Ironic since I just bought an older diesel pickup and am getting ready to sell my F150...
We are very close to total collapse.
Cuz.
Conventional Oil peaked in 2005 http://www.euanmearns.com/wp-content/uploads/2015/06/C-Cdec141.png
Shale in 2018.
According to Rystad, the current resource replacement ratio for conventional resources is only 16 percent. Only 1 barrel out of every 6 consumed is being replaced with new resources
https://oilprice.com/Energy/Energy-General/The-Biggest-Oil-Gas-Discoveries-Of-2019.html
Oil Discoveries are at record lows https://assets.bwbx.io/images/users/iqjWHBFdfxIU/icbkDFACM4iA/v2/800x-1.png
Shale binge has spoiled US reserves, top investor warns Financial Times.
Preface. Conventional crude oil production may have already peaked in 2008 at 69.5 million barrels per day (mb/d) according to Europeโs International Energy Agency (IEA 2018 p45). The U.S. Energy Information Agency shows global peak crude oil production at a later date in 2018 at 82.9 mb/d (EIA 2020) because they included tight oil, oil sands, and deep-sea oil. Though it will take several years of lower oil production to be sure the peak occurred. Regardless, world production has been on a plateau since 2005.
Whatโs saved the world from oil decline was unconventional tight โfrackedโ oil, which accounted for 63% of total U.S. crude oil production in 2019 and 83% of global oil growth from 2009 to 2019. So itโs a big deal if weโve reached the peak of fracked oil, because that is also the peak of both conventional and unconventional oil and the decline of all oil in the future.
Some key points from this Financial Times article: https://energyskeptic.com/2021/the-end-of-fracked-shale-oil/
Shale boss says US has passed peak oil | Financial Times https://www.ft.com/content/320d09cb-8f51-4103-87d7-0dd164e1fd25
Our fossil fuel energy predicament, including why the correct story is rarely told https://ourfiniteworld.com/2021/11/10/our-fossil-fuel-energy-predicament-including-why-the-correct-story-is-rarely-told/
SEE PAGE 59 - THE PERFECT STORM : The economy is a surplus energy equation, not a monetary one, and growth in output (and in the global population) since the Industrial Revolution has resulted from the harnessing of ever-greater quantities of energy. But the critical relationship between energy production and the energy cost of extraction is now deteriorating so rapidly that the economy as we have known it for more than two centuries is beginning to unravel https://ftalphaville-cdn.ft.com/wp-content/uploads/2013/01/Perfect-Storm-LR.pdf