Shanghai Oil Futures Off To Robust Start On 2nd Day

101 Comments on "Shanghai Oil Futures Off To Robust Start On 2nd Day"

JuanP on Tue, 27th Mar 2018 3:54 pm 



China and Russia continue to build the physical and financial infrastructure needed to survive the US collapse.
https://www.rt.com/business/422472-russia-china-petro-yuan/

makati1 on Tue, 27th Mar 2018 6:41 pm 



When the dust has settled on this change, there will be more that continues to chop the dollar into confetti. Maybe backing the contracts with gold? We shall see.

https://www.zerohedge.com/news/2018-03-20/russia-hoarding-gold-fastest-pace-12-years

or:

https://thedailycoin.org/2017/12/22/russia-and-china-lay-economic-foundation-based-on-golden-rule/

Confetti … Chop chop!

makati1 on Tue, 27th Mar 2018 6:56 pm 



BTW: It is a beautiful morning here in Quezon Province. My view is a front yard covered with banana plants, many six meters high, mango trees and the usual coconut palms. The back and side yards also. Some 100+ in all. Temp is 26C going up to about 30C later. The sun is shining. A light breeze. Typical day here. Clean air. Pure well water. Bird, frog and dog sounds, not sirens, horns and traffic buzz. Open windows instead of A/C. Less stress. More of life and enjoying it.

It took a while to settle in, get connected and have time for online interests, but I am back, obviously. I see nothing has changed here. Same collection of intelligence, open-mindedness, educated comments and their extreme opposites. We all know who is who. LOL

makati1 on Tue, 27th Mar 2018 6:59 pm 



JuanP, you are correct. There will be degrees of pain as the old system collapse’. The higher on the ladder of consumption, the harder the fall. The Us is near the top … SPLAT!

DerHundistlos on Tue, 27th Mar 2018 7:12 pm 



Glad to have you back, Mak!!!!!!!!!

Wishing you well, brother.

MASTERMIND on Tue, 27th Mar 2018 8:35 pm 



tt

MASTERMIND on Tue, 27th Mar 2018 8:36 pm 



Madkat

Welcome back! Check out this shit I made

https://imgur.com/a/OB1w6

MASTERMIND on Tue, 27th Mar 2018 8:37 pm 



Drug overdoses killed more Americans last year than the Vietnam War

https://www.cbsnews.com/news/opioids-drug-overdose-killed-more-americans-last-year-than-the-vietnam-war/

makati1 on Tue, 27th Mar 2018 8:59 pm 



Interesting collection of charts … all looking negative for the Us. If you have the education and intelligence you claim, you might consider working in a foreign country and getting out of the collapsing Us. Work for a company with foreign offices and transfer out of the Us, if you want.

My business partner has worked in at least six countries in his ~ 20 years since graduating and getting his architect registration. He has souvenirs and currency from over 20 countries, and has seen most of Europe, the Middle East, SE Asia and some of Africa.

Travel broadens the mind and educates. I’ve been to nine countries outside the Us. Six in the last 12 years. It opens the mind to the real world.

MASTERMIND on Tue, 27th Mar 2018 9:22 pm 



Madkt

Did you see the news about that poising in the UK blamed on Putin?

The wood has been slowly dried for some major future event, and a false flag event will be
like a lit match on the kindling. The media will pick it up and run with it full-throttle, and people will be herded by fear toward the war door. World War 3 is coming soon! And this will be the final battle of history!

makati1 on Tue, 27th Mar 2018 9:36 pm 



MM, I hope you are wrong and we just go out with a whimper, but it is looking less likely. In my seven plus decades, I have never seen such blatant attempts to start a major war by the Us. And only the most brain damaged Americans should not see it. Pitchforks and guillotines on the National Mall before it gets out of hand and kills us all.

twocats on Tue, 27th Mar 2018 9:44 pm 



welcome back madkat – glad to hear you are doing well. Yep – not much has changed here on the forum – though I do feel like the strains of the global system’s gears have gotten a little louder of late. but then again, when you have something like a DJT in the house its sort of like trying to listen to classical music fugues while a jackhammer is going off.

makati1 on Tue, 27th Mar 2018 9:54 pm 



twocats, yep! I too believe that the drums of war are getting louder and the bullshit deeper. Nothing like being out of the loop for a few weeks to make it more obvious. Doubling up on my preps and enjoying the show. I hope you are also. Not much you or I can do to change it.

GregT on Tue, 27th Mar 2018 9:56 pm 



Yes, welcome back makati,

Did you mange to get yourself all settled in at the farm?

GregT on Tue, 27th Mar 2018 9:58 pm 



manage

MASTERMIND on Tue, 27th Mar 2018 10:26 pm 



Hello Doomsday Preppers.

YOU ARE WASTING YOUR TIME. YOU ARE DEAD MEAT

Like flies to sh it… the hordes will overwhelm you…. when the grocery store shelves are empty (which will happen with hours of the power going off….) —- they will immediately head to where the food is grown… they will find you … they will pillage your pathetic plots…. and if you resist… they will hack you into pieces/put a bullet in your head…. (and then they will eat you)

GregT on Tue, 27th Mar 2018 10:42 pm 



“they will immediately head to where the food is grown… they will find you … they will pillage your pathetic plots…. and if you resist… they will hack you into pieces/put a bullet in your head…. (and then they will eat you)”

Wow, that sounds like some scary shit MM. Sure glad we don’t have any food growing around here.

MASTERMIND on Tue, 27th Mar 2018 10:50 pm 



Greg

Around 2025 its all over…One way or another..Either the economy will crash and collapse,, or there will be a worldwide oil shortage and price spike that will cause the economy to collapse, or there will be some major war that will cause the collapse…it will happen one of those three ways..Its as simple as that.

GregT on Tue, 27th Mar 2018 10:57 pm 



I’d be moving as far away from densely populated areas as I could, if I was you MM. You still have 7 years left to figure things out. Who knows, maybe you’ll be among the 6 billion survivors in 2050, or maybe not.

MASTERMIND on Tue, 27th Mar 2018 11:07 pm 



greg

I am not going anywhere..I plan on staying close to my girl and my mom. She is all alone because my dad left here a long time ago..And she is older now and I couldn’t stand the thought of her being by herself when SHTF.

Ashes, ashes we all fall down.
-Holocaust song

GregT on Tue, 27th Mar 2018 11:16 pm 



I think that your chances of being among those 6 billion survivors are pretty good MM. If a runaway greenhouse event kicks in, or the US gets it’s war with Russia, then all bets are off.

makati1 on Tue, 27th Mar 2018 11:29 pm 



Greg, We have moved to a rental near the farm so we can be onsite during the construction. Between the rainy season and the inability to hire a machine large enough to finish the job, the road/driveway has been slow going. It is over 1/2 mile long , u a steep slope and thru a jungle that tries to reclaim it constantly. We found a track-hoe and should be able to finish it soon. Then house construction can then commence. I keep you posted.

I described the new conditions in another recent post here. 1,000% improvement!

GregT on Tue, 27th Mar 2018 11:36 pm 



“I described the new conditions in another recent post here. 1,000% improvement!”

Just read it. Sounds amazing makati!

GregT on Tue, 27th Mar 2018 11:42 pm 



Oh, and mak,

A certain somebody must have really missed you, he’s been talking about you constantly since you’ve been gone.

I’m sure he’ll be around in the morning to say “hello”. Try not to be too hard on him, he’s really been going downhill lately.

Anonymouse1 on Wed, 28th Mar 2018 1:03 am 



He is likely off running around his shack completely losing his shit right now. He was so proud of the way he ‘defeated’ you he quite literally, could not stop telling everyone about his great victory. He was also equally convinced you would not be coming back. Again, something he claimed complete credit for. Between going on about Hitler non-stop, crowing over vanquishing you for good, and working on renovating his outhouse he has had a lot on his plate. Ok maybe that last one is a bit of a stretch. He spends far too much time here for things like…eating, sleeping, or doing anything like physical work outside. Or even going outside at all.

makati1 on Wed, 28th Mar 2018 1:52 am 



Greg, I didn’t miss him. I have never run across anyone as screwed up as he seems to be. Well, maybe MM comes close. lol.

We are in a rental a few miles from the farm site. A good half way to help me adjust to the new lifestyle. We are on the edge of a small town of about 10,000. Close to shops and necessities, but in a rural setting.

BTW: rent is P6,000 or $120 per month for a house that would not look out of place in any older Florida burb. Stucco masonry and a metal roof. Louver windows with screens and security grills. Electric, internet (now) and commercial water. Septic sewer.

Comes complete with a caretaker and his two dogs that live next door in a ‘nipa hut’, similar to this one:

https://en.wikipedia.org/wiki/Nipa_hut#/media/File:Stilt_house_at_Kalibo,_Aklan,_Philippines.jpg

He 72 and separated from his abusive wife. This is a Catholic country. Divorce is a no-no.

makati1 on Wed, 28th Mar 2018 1:59 am 



Anon, sounds familiar. Nothing he says can be believed. I fully expect a long string of abusive comments from him to each one of my posts today.

He never debates the subjects he disagrees with with any intelligent comments or real facts. It must be difficult to live in his world, it is so twisted. I may just decide to ignore him. He is not worth my time. He may have heart failure when he realizes I am back, even though I told him I would be. lol

Davy on Wed, 28th Mar 2018 6:01 am 



Wow, I really have affected you anti-Americans judging from the above comments. You can’t believe someone will stand up to your abusive behavior. Mission accomplished!

Billy 3rd world is back and bragging on himself as usual. For billy it is all about billy. His Canadian fluff boys are all over him with loving praise.

Billy, greggie was heart broken when you went AWOL. I knew what you were doing because you told us you what you were doing. You are always talking about yourself.

BobInget on Wed, 28th Mar 2018 9:53 am 



Summary of Weekly Petroleum Data for the Week Ending March 23, 2018

Bullish!

U.S. crude oil refinery inputs averaged about 16.8 million barrels per day during the week ending March 23, 2018, 18,000 barrels per day more than the previous week’s average. Refineries operated at 92.3% of their operable capacity last week. Gasoline production increased last week, averaging over 10.3 million barrels per day. Distillate fuel production increased last week, averaging over 4.8 million barrels per day.

U.S. crude oil imports averaged about over 8.1 million barrels per day last week, up by 1.1 million barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 7.7 million barrels per day, 4.0% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 685,000 barrels per day. Distillate fuel imports averaged 150,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.6 million barrels from the previous week. At 429.9 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories decreased by 3.5 million barrels last week, but are in the upper half of the average range. Finished gasoline inventories remained unchanged while blending components inventories decreased last week. Distillate fuel inventories decreased by 2.1 million barrels last week and are in the lower half of the average range for this time of year. Propane/propylene inventories decreased by 1.2 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories decreased by 1.6 million barrels last week.

Total products supplied over the last four-week period averaged over 20.7 million barrels per day, up by 5.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 9.4 million barrels per day, up by 0.5% from the same period last year. Distillate fuel product supplied averaged over 4.0 million barrels per day over the last four weeks, down by 4.1% from the same period last year. Jet fuel product supplied is up 5.0% compared to the same four-week period last year.

BobInget on Wed, 28th Mar 2018 10:04 am 



That last paragraph, the most important, is always overlooked.

Despite lots of storm related cancelled flights
jet fuel consumption, still up 5% (last week)

20 million seven hundred thousand barrels gone to oil Hell Every Day or 24/7.

” Total commercial petroleum inventories decreased by 1.6 million barrels last week”.

IOW’s There will be shortages in June.

Davy on Wed, 28th Mar 2018 12:00 pm 



“Macquarie: “This Is The End Of The Liberal Order… But At Least No Wars Yet”
https://tinyurl.com/ybktb9of

“The end of liberal order: De-globalization drift; but no wars, yet Investors continue to search for order; there is none”

“De-globalization is a fact of life; both trade & capital Amongst all the noise, it is still useful to examine the latest trade news with some degree of realism. First, de-globalization has been a fact of life for more than a decade. There are already ~50,000 cases outstanding with WTO, with members introducing various anti-dumping duties & non-tariff measures. This is more than double the case load of ’08, and it is bound to grow exponentially; the US is not even the greatest offender. The liberal trade order had died at least a decade ago. Second, global economy is no longer driven by conventional trade, with elasticity close to one (trade to incremental GDP) vs. ~2x in ‘80s-90s. There are many reasons for such erosion, but atrophy of supply chains and dominance of technology in trade flows are the key. Third, CBs interference with exchange & interest rates to constrain capital markets is also likely to become ever more pronounced. Neither Japan nor China have a yield curve, why should the US have one? The same applies to constraints on cross-border capital flows. The essence of liberal order was not freedom of shipping but freedom of capital.”

Anonymous on Thu, 29th Mar 2018 1:04 am 



FYI, Today in Energy (28MAR) shows the US net imports of energy (all types together) has dropped to a little over 7 quadrillion BTUs. It peaked around 30 quadrillion BTUs in mid 2000s during the peak oil craze.

https://www.eia.gov/todayinenergy/detail.php?id=35532

Now, it is the lowest since 1982 (about the same then as now), which was another low point after the mid 70s peak of around 20. We have not been breakeven since the 1950s.

In 2018, we will probably drop another couple quadrillion BTUs of crude next year (either from exporting more or importing less). And then another quad of crude products. It is approximately 1:2 between million barrels per day and quads of energy per year, so an extra 1 million barrels per day of crude supply and an extra half million barrels per day of NGLs (considered a “product” since it is processed).

Not quite as sure on natural gas exports expansion, but my rough estimate is another quad of energy net exports. It was breakeven last year (net exports but tiny).

Figure coal exports stay constant (donno, but guess status quo). Same thing for electricity…is close to breakeven anyway, slight net import because of NE getting hydropower from Canada.

Add it all up and 2018 could be down by 4 quads to only 3.3 quads of net imports! This would be the lowest level since 1960. Not hard to believe we drop another 4 quads as that is exactly what happened from 2016 to 2017 (11.2 down to 7.3). So it is just continuing the trend.

Assuming 2019 continues the trend, we would be slight total net energy exporters in 2019. About half a quad or so. (Call it breakeven if you want.) This is not hard to believe on the gas side given expected growth in LNG–plants are well down the road in construction. Also pipelines exports to Mexico have had some hiccups on the Mexico side but should be sorted by then. For oil, you have to use the IEA or Rystad estimates (basically another million plus in 2019) rather than the EIA forecasts for a slowing of growth. Right now, looks like EIA is too conservative though…every month they have to revise up forecasts. So I think we get to breakeven by 2019.

It is still a misnomer to use the term “energy independence” though as we are “interdependent”. We have lots of imports coming in as well as exports going out. For one thing, we have excess coal (and lately natural gas and NGLs), but still need more crude than we make. Also, we have some regions that export because of geography (e.g. Alaska) or import because of geography (Hawaii, US East Coast, lately California, with their decline in self production), or because of demand for particular grades of product (especially heavy versus light crude). In addition, we tend to import Canadian gas and electricity but export to Mexico. So even if we become a net exporter overall, there are huge trade flows going in/out. We are not a rock, not an island.

MASTERMIND on Thu, 29th Mar 2018 1:09 am 



Annyoumouse

One major problem. Shale has never turned a profit ever. And historically speaking companies that don’t profit go out of business. Once the oil price rises higher the fed will raise interest rates and the shale ponzi will collapse…And it will look like Enron on steroids! All those investors are going to have to take a serious bath..And many will drown!

Anonymous on Thu, 29th Mar 2018 1:10 am 



I think this page with the table of net import values is even more impressive than the graphs:

https://www.eia.gov/totalenergy/data/monthly/pdf/sec1_11.pdf

Can see how we were importing 30 quads in 2005 and had dropped to about 10 by 2014. In 2015, 2016 kind of treaded water and even imported a little more, changing 11 quads import in 2016. This was from the price crash which made US oil uncompetitive with Arabian imports. But in 2017, with the moderately higher price, we are already back to large yearly changes in import/export balance.

MASTERMIND on Thu, 29th Mar 2018 1:14 am 



Chevron CEO warns US shale oil alone cannot meet the world’s growing demand for crude
https://www.cnbc.com/2017/05/01/us-shale-cannot-meet-the-worlds-growing-oil-demand-chevron-ceo-warns.html

The IEA is grossly overestimating shale growth
https://oilprice.com/Energy/Oil-Prices/The-IEA-Is-Grossly-Overestimating-Shale-Growth.html

The Shale Gas Revolution Is A Media Myth
https://oilprice.com/Energy/Natural-Gas/The-Shale-Gas-Revolution-Is-A-Media-Myth.html

Peak U.S. Shale Could Be 4 Years Away
https://oilprice.com/Energy/Crude-Oil/Peak-US-Shale-Could-Be-4-Years-Away.html

MASTERMIND on Thu, 29th Mar 2018 1:16 am 



Here is a piece of advice, “Make a little space in your mind for the idea that things
could go sideways. The people that think things can’t go wrong will be flipping out,
you’ll have an advantage…”

MASTERMIND on Thu, 29th Mar 2018 1:17 am 



Documents: Industry Privately Skeptical of Shale Gas

https://archive.nytimes.com/www.nytimes.com/interactive/us/natural-gas-drilling-down-documents-4-intro.html

MASTERMIND on Thu, 29th Mar 2018 1:22 am 



Oh look cloggs boy was a spook!

https://i.imgur.com/Dg9FXhM.jpg

LOL

Boat on Thu, 29th Mar 2018 1:35 am 



Mm

I like my fuel cheap. Your skeptics missed the world getting huge price discounts for years with oil and Nat gas. Cheap oil and gas makes for wind and solar that kill coal. It also helps with population. No one will want to live in the permain after the frackers are done.

MASTERMIND on Thu, 29th Mar 2018 1:48 am 



Solar and Wind produced less than one percent of total world energy in 2016 – IEA WEO 2017
https://www.iea.org/publications/freepublications/publication/KeyWorld2017.pdf

fmr-paultard on Thu, 29th Mar 2018 7:43 am 



^mm^ thanks for imgur as a former paultard who wanted to use luke 22:36 to restore the constituion we were taught not to become radicals. we were told to be NAPpy. I realized soon that I just need to continue to pay zakat to the old white (non jewish) woman who works at city hall.

There’s only death and zakat, and you can’t fight city hall.

Davy on Thu, 29th Mar 2018 12:31 pm 



“Why Albert Edwards Thinks “NOW Is The Time To Worry”
https://tinyurl.com/yc6hnrgz

“I know some people don’t like the Zero Hedge (ZH) blog, but I certainly do –and not just for the confirmatory bias it gives me regarding own bearish views. ZH often flags up economic data and issues I would otherwise miss, ahead of the pack. Not much surprises me or shocks me nowadays, but I was truly gobsmacked by the surge in charge-offs and delinquency rates on credit card loans made by smaller US banks (see chart above). In the aforementioned WSJ article, Robert Hammer, chief executive of credit card industry consultant R.K. Hammer, says, “The small banks’ experience is simply a leading indicator of a downturn to come. In the run-up to the last recession losses accelerated for small banks before they did for big ones.”

“And while we thank Albert for the kind words, the reason we once again remind readers of this particular data, is that as Edwards further notes, it is a key part of the puzzle suggesting that a recession – or maybe stagflation – is rapidly headed for the US economy, which is “about to reach a memorable milestone” as the US economic cycle is set to hit 106 months in April, making it the second longest in history, and would be the longest ever if there is no recession by the time Trump begins campaigning for his second term in the summer of 2019. “Here, Edwards quotes Lance Roberts, who says that “It is certainly not surprising that after one of the longest cyclical bull markets in history individuals are ebullient about the long-term prospects of investing. The ongoing interventions by global central banks have led to T.T.I.D. (This Time Is Different) and T.I.N.A. (There Is No Alternative), which has become a pervasive and Pavlovian investor mindset. But therein lies the real story. The chart below shows every economic expansion going back to 1871 and the subsequent market decline. This chart should make one point very clear – this cycle will end.”

GregT on Thu, 29th Mar 2018 1:30 pm 



No need to hide your link behind a tiny URL Davy.

https://www.zerohedge.com/news/2018-03-29/why-albert-edwards-thinks-now-time-worry

Davy on Thu, 29th Mar 2018 1:46 pm 



“Why Albert Edwards Thinks “NOW Is The Time To Worry”
https://tinyurl.com/yc6hnrgz

“I know some people don’t like the Zero Hedge (ZH) blog, but I certainly do –and not just for the confirmatory bias it gives me regarding own bearish views. ZH often flags up economic data and issues I would otherwise miss, ahead of the pack.”

GregT on Thu, 29th Mar 2018 2:03 pm 



“Warning! Stocks to Crash, Gold to Top $10,000: Albert Edwards”

Thursday, 25 April, 2013

“We repeat our key forecasts of the S&P Composite to bottom around 450, accompanied by sub-1 percent U.S. 10-year yields and gold above $10,000”

https://tinyurl.com/yb84tcda

Davy on Thu, 29th Mar 2018 2:16 pm 



Greggie, let’s face it you are not very bright with finance. You have never provided good financial information to this forum. I make ALL my links small. I have no problems referencing ZH and I never had. The fact that it irritates someone like you is just a bonus. Anything I can do to irritate or annoy you is always a plus. Zero Hedge is ahead of the pack and you are in the slow lane. Maybe if you were not so dedicated to being anti-American and a conspiracy addict you to could be on the leading edge. You are stuck with your emotional obsessions.

fmr-paultard on Thu, 29th Mar 2018 2:25 pm 



greg do you feel how it is to be a former paultard and lost shekles listening to alt-tard media? i’m not destroying alt-tard media because i’m evil. i hate it.

thanks but keep your links.

fmr-paultard on Thu, 29th Mar 2018 2:36 pm 



i thank supertards for letting me comment on this site. i get banned frequently for my criticism of alt-tard media starting with paultard websites. should’d taken the hint that they’re nasty people. i took it too far with my true belief and lost tons of shekles.

GregT on Thu, 29th Mar 2018 5:13 pm 



“Greggie, let’s face it you are not very bright with finance.”

Right Davy,

I spent 32 years in finance, and retired securely at 53. Unlike yourself, with zero help from mommy and daddy.

GregT on Thu, 29th Mar 2018 5:23 pm 



I’m sure that all of the regular posters here know that the vast majority of your links are from Zero Hedge Davy. Obviously you believe Tyler Durden to be a reliable source of info. ( which of course I do not, they are a self admitted source of disinformation ) Why then, do you rip into makati1 every time he posts a zero hedge link that disagrees with you?