giphy.com |
Sunday, July 24, 2022
Recent Heatwaves and What Are We Doing About Them?
Sunday, November 7, 2021
Global Warming!
This tends to be a sensitive subject, but as there will likely be no visitors or feedback, why not express my stupid opinion? Opinions are like theories, or so some #$&*s say.
Sunday, October 31, 2021
Strategic Petroleum Reserve and Politics?
I have read a couple of times, where our leaders have asked OPEC and others to turn on the oil spigot to overcome some shortages of crude. I have even read where the president has "released" some crude out of the Strategic Petroleum Reserve (SPR).
On the other hand, "we are trying to talk" about reducing fossil fuel consumption, particularly now that COP26 is underway. I say trying to talk, because I doubt anything meaningful will be adopted, except for promises yet to be broken... again.
I am not the brightest bulb in the pack, but it would seem to me that a commitment to reduce reliance on fossil fuels would also consider a plan to reduce the SPR over time. While this might seem an odd thing to do, it would reduce the current inflationary effects of crude prices as well as send a signal that we are moving away from this fossil fuel.
Naturally an argument could be made that this method would cheapen the market price of fossil fuels, which would prolong their consumption, while reducing the current state of semi-independence for imported fossil fuels. However, I would consider a gradual reduction to be in order. Something akin to a planned reduction of 170,000 barrels per day for 10 years.
Of course, there is the horse and buggy phenomenon. I am referring to the period where cars started to become mass produced. The horse and buggy industry saw the writing on the wall, ceased expansion and began reduction of inventory, etc., which became very profitable for a brief period, until the industry virtually faded away.
We are seeing the beginning states of this in the U.S. oil production companies, in my opinion. It is quite a tightrope to walk between keeping these producers operating at near net import/export levels or accelerating the reduction in U.S. Oil.
The origins of the SPR are rooted in the 1970s and an oil embargo. Here is a brief overview, entitled... History of the Strategic Petroleum Reserve. Here is some SPR Quick Facts. Then there is the IEA, with The global oil market remains vulnerable to a wide range of risk factors. Which states in part...
In accordance with the Agreement on an International Energy Programme (I.E.P.), each IEA country has an obligation to hold emergency oil stocks equivalent to at least 90 days of net oil imports.
Which brings me to current situation... (the upper cut off is the 90 day line, which was broken through at various times in the early 90s and has been above that threshold since 2-2012)
Friday, October 29, 2021
Trying To Push That Proverbial Rope.
Let's be clear... the bottleneck is EMPTY containers taking up room on chassis and spilling over into container warehouses, docks, etc. This is clogging up the system and creating situations where multiple movements of both empty and full containers beyond the normal efficient "just-in-time" movement cannot take place.
To keep the goods moving, more containers are being built and a premium is being placed on empty containers. Just as the goods traffic is snarled, so are the return of empty containers. This is why the major rails shut down for one week in July and have since started metering to their midwestern hubs. For every chassis laden with goods inbound to that midwestern hub, the port must take one chassis laden with either an empty container or outbound goods. Here's a sampling from Freightwaves.
Until such time as the hubs in middle America are "un" choked, the ports will remain congested. And yes, there are driver shortages throughout the system. Truckinginfo.
It was nice optics to have some politico state the ports were now going to function 24/7 and then get 24/7 news coverage of the statement, but saying that and doing that are very different things. Where is the in-depth coverage and follow-up?
COP26
A meeting in Glasgow is to begin soon, to discuss ways to reduce carbon emissions and achieve some targets. A noble cause and more power to them BUT... apparently China and India can't even supply the expected paperwork AND at least one of their leaders is simply skipping the conference.
The current goals are cutting emissions in half by 2030 and net zero by 2050. Considering China and India are nearly one half of current emissions... it would require the rest of the world to be net zero right now. As both China and India are having difficulty finding enough coal to currently generate electricity and driving prices of coal upwards... if they were the only emitters, that 2030 goal is toast, imo.
This is no reason to give up on emissions reduction, but realism needs to be on the table. It is certainly admirable to hope for the best but... we need to prepare for the worst as well.
It should be noted Jaguar Land Rover is furnishing 240 electric vehicles to transport these folks around. However, there is likely not enough recharging capacity available, so Diesel generators will be used to re-charge. But this is not going to be that dirty oil, but HVO (hydrogenated vegetable oil). The type in fryers. Presumably this makes everything alright... even these vegetable oils were grown and harvested with old fashioned diesel vehicles. Or maybe all farm vehicles in the U.K. are now electric. /s
Oh, and before I forget, this from Deutsche Welle - UN says national climate targets 'fall far short'. So the even promises are not making the grade and we should recognize that promises often fall short of expectations.
Note: Article written on 10-16-2021 and links may no longer be viable OR behind a paywall.
Sunday, October 17, 2021
Random Thoughts - 10-17-2021
Courtesy of CDC |
Covid
It's been nearly 2 years, depending on the actual start. Here is some stats, courtesy of Our World in Data...
- 47.5% of the world population has received at least one dose of a COVID-19 vaccine.
- 6.65 billion doses have been administered globally, and 20.44 million are now administered each day.
- Only 2.7% of people in low-income countries have received at least one dose.
In the USA, we have achieved 68.4% fully vaccinated of persons 18 and over, per the CDC.
Burrowing down, indicates my state (Kentucky) has 69.86% of that age groups full vaccinated.
- The seven day average infection rate (KY) of 1, 932 compared to average daily rate from beginning of 1,265.
- The seven day average death rate is 34, compared to average daily rate since the beginning of 16.
The average age of infection and deaths has fallen since pre-vaccination, when the death rate was primarily over 60, with 92% of deaths above that range, with above 80 counting over half of deaths, 70~80 was about 1/4 and 60~70 was about 1/7. The average age was approximately 78, with infection's average age at 44.
Since the start, the average age of death is now 74 and infections at 40, with the 7-day age of death at 66 and infection at 37.
The good news if such a thing is possible... both infections and deaths are dropping rather fast. However, this is a global pandemic and until that low income vaccination rate above improves... another wave of some new variant is not out of the realm of possibilities.
The WHO has decried wealthier countries with plentiful vaccine access are...
Hoarding
Tis true, but food hoarding is starting to crop up... and I don't mean just in my pantry. There are countries that are net exporters of food and countries that are net importers. Whether you believe in climate change is irrelevant at this specific point in time. Weather has wreaked havoc on food importing AND exporting countries. Importing regions such as large swaths of heavily populated countries in Asia and most of Africa
The extent is some countries are beginning to limit exports, due to their own needs, just as countries that import are facing reduced crops.
While it is likely food shortages will occur in some areas, much higher prices will be likely for all. It is no different than natural gas, petroleum, coal, etc.
While I have received my booster shot and have a full to overflowing pantry, does not mean I am immune to the potential of societal breakdown on a global scale. If it comes, it will be due to a dearth of leadership. It is what fills that void, that is the worry.
Of course, I am probably over reacting and everything is hunky dory!
PPI November 2024 release with October 2024 Data
The BLS has released the November 2024 Producer Price Index Report for the month of October . ( historical releases ) The Producer Price ...
-
The race continues to somewhat tighten, with the electoral vote forecast having Trump/Vance with 240 to 226 for Harris/Walz. The toss-ups ar...
-
This week's full report . Gasoline pump prices fell -0.17¢ for the week, and continues well below year ago levels, by -61.8¢, or -16.2...
-
My electricity usage over time. I track many things to monitor my inflation versus the CPI. The July bill came in much higher than last year...