Member Info for romaron

FRANKFURT, Oct 15 (Reuters) - Germany will cut a power surcharge levied on consumers to support renewable energy by 42.7% to help households cope with soaring energy prices, network operators said on Friday.

Still, not to worry they're gonna recoup some of it with a carbon tax which will force the energy provider to increase charges which will be paid by? Stab in the dark but I'd guess the energy users.

Over here where Countdown in Edinburgh is finishing the activists say this is a welcome development to discourage the use of fossil fuels. Pushed further regarding costs they replied that it didn't really affect them because mummy and daddy paid the utility bills.

The majority who seemed to have American accents and important jobs like "Corporate Wellness Specialist" are heading for the airports home. Did we learn anything? Apparently if all the world was in three storey sustainable housing complexes we would all fit into France and feeding cows seaweed reduces methane emissions by over 70%.
I don't want to live in France and I've never seen a cow eat seaweed. Mangetout!

I have to agree with chilting - the answer is to eat less protein (shouldn't he be in Edinburgh with his young friends?).

https://en.wikipedia.org/wiki/Stanley_Green

Hi monkey (19.32) that's my observation too. A few always will always like to demonstrate and make a nuisance but the majority, as they say "don't give a monkey's". On balance they'll say climate change isn't good but there are more urgent considerations - buying a house, planning a holiday, fashion etc....
They are faced with difficult choices as I was when I was there age. Worry non-stop about the future or going down the pub or clubbing with mates?
What really amazes me is that I'll admit to knowing very little about the engineering and science in lifting and refining oil but it seems that these protestors who come from a varieety of backgrounds suddenly know more about thre fossil fuel industry than van Beurden of Shell.

Their behaviour at Edinburgh didn't help their case either and it'll get worse in Glasgow.

mrd - I'll rephrase that. A disaster for the activists who can never be pleased. There will be positives - just that they will want more. A world stage but the politicians have to return home and sell it. Good luck with that.

Not ignoring anybody but off out rest of the evening. Nightie night.

I don't know why but I just assumed Stanley (chilting) was older. I didn't realise he was in his teens.

Glad to hear it Elitesky. We have figurehead like her here too. Chris Packham for example who is also on the spectrum. The British are pragmatists at heart and stubborn. They are sceptical of much of what is written in the media. I'm not actually agains transition but I am against moving the responsibility and cost further down the chain to countries and communities that struggle with poverty and what we in the West take for granted.
I just don't see the abandonment of fossil fuels happening any time soon. I can promise you that if the Politicians dared to present the public with the bill for the time frame the activists require then they would be out of office and there would be rioting in the streets by workers.
The scientists at Edinburgh today weren't happy with the behaviour of the youngsters. They don't help their case. As for Insulate Britain they have TINY support. Look at their Crowdfunder https://www.insulatebritain.com/ . 231 supporters and barely enough for one Tesla.
I met with Govt. ministers regarding insulating Britain and it takes more than a loudspeaker and a banner to get things done.
COP26 will be a disaster for them imo. For once I'm so happy to have Boris Johnson as PM. He'll be able to polish and put lipstick on the final communique.

Be lucky

"So Mr. van Beurden, I just want to start off by saying you should be absolutely ashamed of yourself (applause) for the devastation you have causedto communities all over the world.
You are one of the most responsible people for this crisis in the world and in my view, that makes you one of the most evil people in the world.
No matter what he says today, remember Shell has spent millions covering up the warnings from climate scientists, bribing politicians and even paying soldiers to kill Nigerian activists fighting against them. All whilst rebranding to make it look as though they care and that they have the intention of changing " etc... etc....
It was then interrupted by a group of women carrying a banner saying "No future in Fossil Fuels"and chanting walking through the audience.
This was part of the balanced debate and the questioner was a young activist only named as "Lauren".

Is this your team too spindok?

....have decided to stop glueing themselves to roads for the time being. Credit where its due the Government got this one right. Didn't lock 'em up and made no martyrs. Thye'd planned to have many of their members in jail now as "political prisoners" and it didn't happen. Instead they pushed their crusade back several years and of course it had nothing to do with the fact that the public found them imbecilic do-gooders that were acting like a weird cult with no consideration for the majority just getting on with life.
I know more about insulatiing Britain than they will ever know. They lost. Announcing they're suspending its campaign of "civil resistance" is a result of "public resistance" and reality.

The bad news is that Stanley will probably carry on the campaign by continuing to glue himself to this message board.

"And where are they getting the money from?" mrd asked.

Private Equity if Waldorf are anything to go by. NOC's less sensitive to climate activists noise and actions. Adventurous retail investors (minority). Hedge funds who may prefer that definition rather than Private Equity although they are more or less the same to me. Oil majors with vendor loans etc.....

More or less guaranteed returns always have an attraction. It is obvious that transition is not going to be so fast as the dreamers believe and the ESG lobby will meet strong resistance. I think COP26 will be a shambles but they have the right man (BJ) to put lipstick on a pig. There is a moat around most of the medium to large oil companies and we are one of them. It is looking very good for us in the future imo.

Build it and they will come.

I want Pelle to win.

L7 64.4
Hitman 66.5
Juan 67
Therapist 71.19
Romaron 72
E121 75.5
Pelle 85

Now, I'm not usually a conspi****** but there is compelling evidence that Vlad reads this message board.

Surprised that Stanley poked his nose in. He must have been one of the first to be unglued.

I don't know Putin personally but he seems to agree with me "Russia wants long-term contracts linked again to oil prices" [today Bloomberg] and he clearly knows a bargain when he sees one (BOGOF).
They used to be linked and they discourage spot pricing and tilt towards long-term contracts favoured by Gazprom. The transition has been poorly timed and won't happen anywhere near as fast as noisy supporters demand. We've had 7 years of technology leading the stock markets. Try warming your home or powering transport with "technology".
I'm actually quite looking forward to COP26 because I think it will be a failure. December will be an explosive month.
Governments are coming under strong pressure from their home business people whilst over here the ERG are beginning to stir. Boris will grandstand and, bless him, there is nobody better at polishing a turd which is what the final communiqué from COP26 will be. Even Biden has more pressing domestic concerns. Talk about "revenge of the old exonomy". Producers are in NO rush to dance to the tune (or schedule) of climate activists. Substitution isn't easy but oil is now coming under increased demand pressure. China has nicked most of the liquid gas whilst Russia isn't happy with the pariah treatment from Europe. As for Saudi - they can be relied on, can't they?
Fransisco Blanch head of BOA global research sees $100 oil and a spike higher. Back the truck up whilst you can.

*Go on - impress me Insulate Britain. Glue yourselves to a road in China: https://twitter.com/AlanFoum/status/1448250171691765761/photo/1

Buy one barrel, get one free. "European gas at the Dutch TTF hub stood at a crude oil equivalent of about $169 a barrel, based on the relative value of the same amount of energy from each source, Reuters calculations based on Eikon data showed."

source: https://www.reuters.com/business/energy/oil-falls-after-blistering-run-amid-global-energy-crisis-2021-10-12/

So halve that to get the energy in balance and you get $84.50 - there is some natural pull to get the relationship back to the mean. One of them is wrong.

*Pelle - let's move on. He's full of it and I have filtered him. He brings nothing but noise anyway. Of course he has no intention of coming out of hiding.

Hi mrd, I think we got a better deal than Waldorf is what I was trying to say. If you follow the logic Cairn may (or may not) have been tilting the RNS a little when TBF some of it will always be luck. It also reinforces our deals as if Waldorf were happy with their deal then ours are even better (Magnus/GE). Remeber Waldorf were only incorporated in 2019 and didn't have to BUY into the North Sea. In fact their largest shareholder (Paal Hveem) doesn't seem to have a history in oil. I like it too that Aaditya Chintalapati is on board and seems well connected. Basically, they're not mugs.
Sorry for that. I can see how it was poorly worded.

They're making money hand over fist like ourselves but quite surprised to see them down today after continuing share buybacks. Ended up in the usual rabbit-hole trying to make sense of it but came across this in their Q2 update of 3 August:
"- During the quarter, $500 million of share buybacks were complete to offset the expected full-year dilution from the vesting of awards under employee share schemes."

So a chunk of the effect is just to bring it back to par whilst the benefit funnels firstly to employess and directors. Just surprised at the amount.

CNE not doing so well either today after the attempt to gloss up the Catcher/Kraken sale RNS yesterday. Whilst we might pat ourselves on the back for getting a seemingly better deal on GE it might be a good time to remember that serendipity also plays a part in these deals. We would have sold 20 percent of Kraken to Delek back in 2016 and instead were forced to borrow $175 mio from Och-Ziff. Dealing backwards it wasn't a bad trade in the end.

Then there's this: https://www.hartenergy.com/news/enquest-shares-slump-after-partner-downgrades-kraken-oil-field-reserves-178181
Whatever the accountancy debate the oil price is considerably higher. This feeds into the reserve disagreement between CNE & ENQ. We have a few benefits within the system waiting to be announced.

I still don't understand a lot of the machinations of this industry but I do fancy myself as the next CEO of EnQuest. A company with a stock of products in increasing demand due to industry underproduction and a shelf-life of at least 15 years. It'll be hard to f**k it up from herein.

*Been on a positive thinking course.. It was cr*p.

Meanwhile (sigh), I wait wistfully for the communication that never comes.

https://www.youtube.com/watch?v=C6ZDsUGiGqM

Don't want to be a party pooper towards renewables but can they find the labour to carry on the crusade? Come to that I can't imagine that the O&G industry has an oversupply either and I've a feeling their demographics [O&G] are similar to HGV drivers agewise. All rather messy and manmade. I see a move (may be temporary) away from renewables back to fossil because many won't be making a prophet and you need that in the real world.

5. People listening to false prophets promising the earth, smugness and godliness.

https://www.aol.co.uk/lifestyle/strong-winds-cause-dozens-of-tents-to-fly-into-the-air-in-china-184944353-185056424.html

Modestus returns to his campsite in Shetland.

Oh ****, Stanley's back and the first thing he says it isn't windy enough in Shetland. Is he right? L7 or Modestus will know.