Intelligent Automation Inspires New Plans For Onshoring
Energy is the fundamental currency of the physical world, while GDP is the imperfect catch-all measure of economic progress. The plot shows electricity generation per capita against GDP per capita for 2015. The bubble areas represent population size, while the colours are the fraction of power which is produced from renewable sources – with light green a high percentage and dark green a low percentage.
One of the most disreputable tactics of those who sound alarms about anthropogenic climate change is to conscript any weather-related disaster to advance their cause. Case in point: the recent wildfires in and around Fort MacMurray, Alberta, Canada:
This article claims that “Oil traders are borrowing from banks to store crude at a loss.” Almost certainly not.
The calculation is based on contangos in Brent crude. But the vast bulk of the oil being stored at sea is in Singapore, and is not BFOE, from what I can gather. This makes all the difference.
Cue Gomer Pyle. It is now being reported that Glencore was not just bigfooting fuel oil in Singapore, but it was the firm stomping on Brent as well. It took delivery of 15 or more cargoes of the 37 available for June loading. There is also talk that the firm had accumulated a position in excess of the 37, and had already had contracts to sell Brent to refineries in Asia and Europe.
Since October of last year, China’s National Bureau of Statistics has not published detailed data on metals markets. And it’s not just metals:
Data on oil products such as liquefied petroleum gas, naphtha and fuel oil have been withdrawn. So too have regional figures for coal, steel and electricity output.