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Reuters: "World refiners are CLOGGED with oil"

General discussions of the systemic, societal and civilisational effects of depletion.

Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby ROCKMAN » Tue 06 Jun 2017, 15:06:35

pstarr - Just as I've always suspected: you really are a "pussy" lover. LOL.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby kublikhan » Tue 06 Jun 2017, 16:01:04

Anyone who takes StarvingLion's rants seriously has their head up their doomer butt.
The oil barrel is half-full.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby asg70 » Tue 06 Jun 2017, 16:08:27

ROCKMAN wrote:Cog - "There is also an ideological side of doomerism." Not just cookers but "environmentallists" and cornucopians. Did you follow my long running battle with a variety of "environmentalists" that could not contain their excitement over President Obama's refusal to approve the Keystone XL permit. A great "victory" to save the climate. Eventually as oil sands production continued to increase they moved on to other "victories" like the Paris Accord. But I don't recall a single post here or an article in the MSM admitting the lack of the permit made no difference at all.
Lots of cornie examples as well as greenies who try to stretch reality to fitting their "hopes".


There are also those whose ideological position revolves around the fact they derive their livelihood from the fossil fuel industry.

BOLD PREDICTIONS
-Billions are on the verge of starvation as the lockdown continues. (yoshua, 5/20/20)

HALL OF SHAME:
-Short welched on a bet and should be shunned.
-Frequent-flyers should not cry crocodile-tears over climate-change.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby vtsnowedin » Tue 06 Jun 2017, 16:11:04

kublikhan wrote:Anyone who takes StarvingLion's rants seriously has their head up their doomer butt.

Yes I would not be surprised to learn the StarvingLion lived in Colorado and was consuming large amounts of legal weed. :)
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby shortonoil » Tue 06 Jun 2017, 16:36:26

When the Fed's balance sheet will finally shrink, the current large amount of excess reserves will begin to adjust to a new reality. There are three distinct effects that could occur: monetary base contraction, the revival of the federal funds market and an increase in velocity of money.


For those who may still occasionally visit the late great planet earth:

http://greshams-law.com/2012/02/13/char ... 5-to-2012/
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby kublikhan » Tue 06 Jun 2017, 17:14:55

That article is 5 years old short. Why don't you try looking at what the FED is saying today:

Federal Reserve officials said the shedding of the $4.5 trillion in bonds the central bank is holding on its balance sheet will begin this year. Unwinding the balance sheet is significant both because of its sheer size and the impact it could have on markets.
Federal Reserve wants to start unwinding the $4.5 trillion in bonds on its balance sheet this year

The Federal Reserve is actively considering a profound change in US monetary policy, in effect the reversal of quantitative easing (QE). In its March meeting, the FOMC discussed its strategy for the future run down of its balance sheet, and said that further debate would take place in upcoming meetings.
The FOMC has already concluded that “a change in the Committee’s reinvestment policy would likely be appropriate later this year.” Investors are therefore beginning to focus on the possible consequences of the reversal of QE on interest rates and the shape of the yield curve.

The FOMC has already outlined some of the principles that will guide the shrinkage of its balance sheet. The central bank’s portfolio of treasuries and mortgage backed securities will almost certainly be run down in a gradual and predictable manner, allowing bonds to run off as they mature, instead of reinvesting the proceeds in more bonds. There will be no direct sales of bonds into the open market.

Some of the effects of balance sheet normalisation may already be in the market. According to to New York Fed’s Primary Dealer Survey in March, market participants already expect the run down to start in mid 2018, when the Fed funds rate has reached 1.63 per cent.
The consequences of shrinking the Fed’s balance sheet
The oil barrel is half-full.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby ROCKMAN » Tue 06 Jun 2017, 17:47:17

pstarr - I was only teasing about your apparent affection for the hungry feline. LOL. Nothing else.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby shortonoil » Tue 06 Jun 2017, 19:28:21

That article is 5 years old short. Why don't you try looking at what the FED is saying today:


This one is 1 month old, and the FED has a $4.5 trillion balance sheet. A lot of it is worthless garbage like repurchased Chinese MBS that aren't worth 5¢ on the dollar. The FED is not going to be reducing anything as long as you are are breathing. Come visit our once beautiful planet from time to time. Learn how things work on this side of the stratosphere.


https://fred.stlouisfed.org/series/WALCL
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby Cog » Tue 06 Jun 2017, 19:48:21

Shorty still trying to sell that ETP document for $25 that no one wants to buy. Look man, I'll give you $25 just to go away. Do we have a deal?
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby kublikhan » Tue 06 Jun 2017, 20:18:22

shortonoil wrote:This one is 1 month old, and the FED has a $4.5 trillion balance sheet. A lot of it is worthless garbage like repurchased Chinese MBS that aren't worth 5¢ on the dollar. The FED is not going to be reducing anything as long as you are are breathing. Come visit our once beautiful planet from time to time. Learn how things work on this side of the stratosphere.

https://fred.stlouisfed.org/series/WALCL
Wanna bet on that?
The oil barrel is half-full.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby AdamB » Tue 06 Jun 2017, 20:36:30

ROCKMAN wrote:Lots of cornie examples as well as greenies who try to stretch reality to fitting their "hopes".


Quite true. Fortunately, there are those who are pragmatists, and quite willing and capable of applying objective thinking and analytic skills to these kinds of issues. In the energy arena, there happens to be a congregation of such folks in Washington at the end of this month....anyone going? The last couple have been excellent, and well worth the time and effort, if you want to learn about energy topics, be it refineries or upstream resources or whatever.

https://www.eia.gov/conference/2017/
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby AdamB » Tue 06 Jun 2017, 20:51:28

ROCKMAN wrote:Here you go if you want the proof directly from the govt:

https://faq.ssa.gov/link/portal/34011/3 ... t-benefits

Folks getting close to retire should read the govt's SS website. For a govt product it is really excellent. And more important: easily navigated and even an easier read.


It says right off the bat that there is a yearly earning limit.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby marmico » Tue 06 Jun 2017, 21:09:51

A lot of it is worthless garbage like repurchased Chinese MBS that aren't worth 5¢ on the dollar. The FED is not going to be reducing anything as long as you are are breathing.


It is amazing that the FED is so profitable. The FED doesn't need to do anything to normalize its balance sheet. Currency in circulation is rising by ~$100 billion per year. The excess reserves (QE or LSAP) are being reduced by the same amount. It would take ~15 years but that is not politically possible.

Image

As the FED funds rate rise, interest on reserves also rise and the FEDs profits ($97 billion in '15 and $92 billion in '16) handed over to the Treasury will decline. And no one wants to see the "hated" banks receiving interest on the reserves.

http://www.reuters.com/article/us-usa-f ... SKBN14U24K
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby ROCKMAN » Tue 06 Jun 2017, 22:59:50

Adam - "It says right off the bat that there is a yearly earnings limit". No it doesn't. Read again and pay attention to the phrase "full retirement age". And even before FRA there is not limit: you can earn ASD much as you like. But for every $2 over a certain amount you have $1 deducted from you check.

Here, let me spoon feed you. LOL. Directly from that link:

"You can get Social Security retirement benefits and work at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, we will reduce your benefit."
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby AdamB » Wed 07 Jun 2017, 08:05:28

ROCKMAN wrote:Adam - "It says right off the bat that there is a yearly earnings limit". No it doesn't. Read again and pay attention to the phrase "full retirement age". And even before FRA there is not limit: you can earn ASD much as you like. But for every $2 over a certain amount you have $1 deducted from you check.

Here, let me spoon feed you. LOL. Directly from that link:

"You can get Social Security retirement benefits and work at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, we will reduce your benefit."


Thanks Rockman. This is all quite amazing. I need to really go to one of those retirement seminars the company schedules.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."

Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby shortonoil » Wed 07 Jun 2017, 08:54:10

Wanna bet on that?


A world reserve currency which is backed by mostly garbage; which is powered by oil that is ever more useless; controlled by unscrupulous, diabolical camel jockeys and sand niggers.

Three to one odds that the Middle East is burning before King Salman bin Abdul Aziz al-Saud collects another wife.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby asg70 » Wed 07 Jun 2017, 09:23:54

shortonoil wrote:
Wanna bet on that?


A world reserve currency which is backed by mostly garbage; which is powered by oil that is ever more useless; controlled by unscrupulous, diabolical camel jockeys and sand niggers.

Three to one odds that the Middle East is burning before King Salman bin Abdul Aziz al-Saud collects another wife.


A little heated discussion and the real person is revealed I see.

In addition to being weak on science, Shorty is a flagrant racist. Could this possibly fuel some of your doomerism? This desire to see this or that group suffer?

BOLD PREDICTIONS
-Billions are on the verge of starvation as the lockdown continues. (yoshua, 5/20/20)

HALL OF SHAME:
-Short welched on a bet and should be shunned.
-Frequent-flyers should not cry crocodile-tears over climate-change.
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Re: Reuters: "World refiners are CLOGGED with oil"

Unread postby marmico » Wed 07 Jun 2017, 09:34:25

A world reserve currency which is backed by mostly garbage


Read. You are a bug. I am a windscreen. I'm going to crush you every single time. First it was the ETP splat, next it was the refinery yield splat (the missing 8.4 million barrels per day of gasoline) and now it is the monetary policy splat.

You are a crushed bug, Klam Klubber from Kilmarnock.
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