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"oil demand should peak within the current decade"
The Tipping Point In Global Oil Demand
By Salman Ghouri - Sep 04, 2023
https://oilprice.com/Energy/Crude-Oil/The-Tipping-Point-In-Global-Oil-Demand.html
Oil demand to slow sharply by 2028, putting peak in sight - IEA
Global oil demand is expected to slow "almost to a halt" within five years, the International Energy Agency said in a report Wednesday, as higher prices and supply concerns will likely speed up the shift to clean energy sources and electric vehicles.
Demand will rise 6% between 2022 and 2028 to reach 105.7M barrels per day on robust demand from the petrochemical and aviation sectors, the IEA said in its medium-term oil market report. But annual demand growth is expected to shrink from 2.4 mb/d this year to just 0.4 mb/d in 2028.
Notably, the use of gasoline for vehicles is set to decline after 2026, given increased adoption of EVs and biofuels.
"The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade," IEA Executive Director Fatih Birol said.
IEA expects growth in China demand, which has seen a muted recovery after lifting COVID-19 restrictions, to slow markedly starting next year.
In a separate report, IEA said global oil demand will grow by 2.4 mb/d in 2023 to 102.3 mb/d, outpacing last year's 2.3 mb/d increase. China is expected to account for 60% of the gains.
https://seekingalpha.com/news/3979728-global-oil-demand
EVs Made the First Visible Dent into Gasoline Consumption
by Wolf Richter • May 11, 2023
Gasoline sales have already been stagnating for years, interrupted by big drops in demand.
By Wolf Richter for WOLF STREET.
Gasoline consumption in the US dipped by 0.4% in 2022, from 2021, to 369 million gallons per day, all grades of gasoline combined, below where it had been in 2002, and down by 5.7% from 2019, and by 5.9% from the peak in 2018, according to data from the Energy Department’s EIA.
And yet, in 2022 employment grew by 4.8 million. And miles driven increased by nearly 1%. It’s not that economic activity declined or that people drove less. But they bought less gasoline
Why the drop in gasoline consumption despite more miles driven?
The primary long-term structural factor at work is the rising fuel economy of the vehicles in the national fleet. This started many years ago, and it continued in 2022
Why the dip in gasoline consumption in 2022 from 2021, instead of further recovery from the 2020 lows?
Ah-ha, finally, a long-anticipated moment. The growth of EVs in the national fleet inched to the visible surface of gasoline consumption. EV sales in 2022 grew to a share of about 7% of total new vehicle sales in the US. In California, EV sales in 2022 accounted for 17% of total sales. These numbers are starting to show up at the gas station as a decline in gasoline sales.
Even though the market share of EVs in the US reached 7% in 2022, up from near 0% a decade ago, their share of the national fleet in operation is still minuscule, and for now, the impact on gasoline sales is small in the US overall. But we can finally see this first little dent.
The impact of EVs on gasoline consumption was bound to show up, and it was part of the mix in prior years, but at such low levels that it got lost in the shuffle.
Sales shift from refiners and gas stations to electric utilities.
Conversely, as gasoline consumption declined in 2022, electricity generated and sold to end-users in the US finally broke out of the 15-year stagnation and set a new record, in part because of EVs (there are also other new power-hogs, such as crypto mining, which has taken off in the US a few years ago).
Electric utilities, for years stuck in a no-growth business in many parts of the country, are licking their chops at the prospects of being able to sell more electricity
https://wolfstreet.com/2023/05/11/evs-made-the-first-visible-dent-into-gasoline-consumption/
Case number: 2:09-CR-00132-RLH-RJJ April 6, 2023: The U.S. Attorney's Office will host a virtual town hall for victims and shareholders in this case. More information will be available soon. https://www.justice.gov/usao-nv/victim-witness-assistance/us-v-john-edwards-et-al-cmkm
The global market for internal-combustion vehicles peaked in 2017 and is now in "structural decline," Bloomberg New Energy Finance declared in a recent report.
BNEF reported in 2021 that global internal-combustion car sales had already peaked, but didn't mark that peak with a precise year. It now also predicts that oil demand for transportation will peak in 2027,
https://www.greencarreports.com/news/1138993_combustion-vehicle-sales-peaked-in-2017-peak-oil-due-in-2027
That's a very reasonable question you have asked.
Good news! The world is getting greener thanks to CO2
"The planet is now greener by 15 % since 2000"
CMKM Town Hall Friday, Mar 3 2023 1:00 PM - 1:30 PM
(UTC-05:00) Eastern Time (US & Canada)
usao.webex.com/webappng/sites/usao/meeting/register/f7adab3e63c54065bdf6379723c9f279?ticket=4832534b00000004dc5579211e39db920b5e06a8d95bf221c15e35e64b9b9f2ab85462c78953b06d×tamp=1676512084947&RGID=r402dfc5239a605e530915a956817d75e
$500 -$1,000 is in the cards for ARKK by 2028 IMO.eom
I think TDOC is the AMZN of healthcare. It could bottom in the teens with a 95% decline from the all time high and then climb to $500 and higher.
"Investors who stuck with Amazon through the roller coaster ride of the dot-com bubble around 2000 would have been handsomely rewarded for their patience. The stock soared from a split-adjusted IPO price of $1.50 per share to $106.69 per share on Dec. 10, 1999. From there, it proceeded to fall 96% until it bottomed on Sept. 28, 2001, at $5.97 per share."
Oil demand could plunge by 30% over the next 5 years, Cathie Wood predicts.Jan. 19, 2023
Crude-oil prices are up thus far in 2023, but fund manager Cathie Wood sees a substantial drop in global oil uptake that could result in a powerful swing lower for the fossil fuel.
“We believe that the demand for oil,” estimated to be at about 100 million barrels a day, “is going to drop over the next five years” by 30%, Wood said on Thursday during a quarterly seminar for clients of ARK Invest’s suite of funds.
That’s “because of not only electric vehicles and the increased in electric-vehicle miles,” but also autonomous taxi services, Wood predicted, referencing her popular holding, Tesla Inc. TSLA, +11.00%.
The ARK Invest CEO made the case that crude oil CL00, -0.38% has held its value, on a relative basis, due to a number of factors, including China’s gradual reopening from its zero-COVID policies and a replenishment of the U.S. Strategic Petroleum Reserves, which were tapped to help mitigate the growing costs of oil last year.
“We could be talking $50 [a barrel],” Wood said.
https://www.marketwatch.com/story/oil-demand-could-plunge-by-30-over-the-next-5-years-cathie-wood-predicts-heres-why-11674169002
January 13th,Shortest town hall in history--40 seconds.
raidermike99:"Well that was short. Still not finished but will host another town hall at the end of Feb. Says he will have it all wrapped up by then"
Warning:It has come to our attention of the existence of a cloned and potentially malicious DOJ Victim Internet Site. The cloned site looks very similar to this website. At this time we do not have any more specifics about the fraudulent site or when it will be taken down. If you logged into a Victim Notification Site other than www.notify.usdoj.gov please contact the VNS Helpdesk at (866) 365-4968 to report the incident so we can help you secure your account and update your Personal Identification Number (PIN) and password.
It is the site www.notify.usdoj.gov/.
seagull:This is the number for the DOJ we have been contacting for 15 years. Some one contacted them and had someone email them from another site. Call them and clarify to them if someone else contacted you.
If you click on the www.notify.usdoj.gov you will see the red printing at the top of the page warning you of fraudulent people trying to get information from you. Do not log onto any other site besides this DOJ site.
Tiago EV starts at around $10,000 ($14,500 upgrade)
Tata Motors, one of India’s largest vehicle manufacturers, has announced a new made-in-India electric car called the Tiago EV, a 5-door hatchback based on the the company’s Ziptron electric car platform, which is optimized for driving conditions in India. The Tiago EV starts at around $10,000 with a 19.2 kWh battery and 3.2 kW charging. The company says it has a range of 250 kilometers. For around $14,500, drivers can upgrade to a 24 kWh battery version with 315 kilometers of range and a 7.2 kW charger.
Tata Tiago EV review: India's most affordable electric car
We have five Innovation platforms evolving at the same time!
robotics, artificial intelligence, energy storage, genomics, blockchain....
This is HUGE! Disruptive ,transforming and beneficial change is happening at an accelerating pace.
Inflation fear will be replaced by unstoppable deflationary forces. The FED is overreacting. Stock market bears are in big trouble.
Robotics, artificial intelligence, energy storage, genomics, blockchain :
"The Right Time To Buy Is When Everyone Is Fearful, Start Doing This From Next Week" Cathie Wood 10 min
Egypt new massive gas discovery( 3.5 trillion cubic feet)
Egypt JUST ANNOUNCED It's NEW MASSIVE Gas Discovery( 3.5 trillion cubic feet)That Will Change The Entire Industry Forever
The Egyptian Oil Minister, Tarek El Molla, made a big announcement just last month. He revealed that Egypt had found a massive gas field in the northeastern Mediterranean.
According to the Middle East Economic Survey, the field possesses 3.5 trillion cubic feet of gas.
Economy treading water with new market highs is more likely next year.
No meltdown is in the cards until 2029 as AI drives productivity and profits.When AI becomes the massive job killer that many fear around 2029 things could get ugly. Until then it's up up and away lead by markets in the USA. There is so much resilience in man that it's a bad bet to focus on gloom n doom. There are many that are suffering but that's nothing new. We are in a period of massive change and this can open an age of prosperity few dare imagine.We can change our energy situation,our food issues can be resolved and we can adjust our financial systems to accommodate AI related dislocations. We just might build a world Martin Luther King would be happy to see. We can adjust. We can overcome. We can create a society that embraces every individual. We can build what we dream. This era of change looks to be one full of tremendous potential and rapid transformation. Outdated institutions will improve or implode.New thinking and new institutions can replace the old quickly in times of uncertainty.I'm excited to embrace positive change that is already happening. It's time to dare to prepare for a much better world IMO.
New Ways To Feed Our World
U.S. poised to become net exporter of crude oil in 2023
https://www.reuters.com/business/energy/us-poised-become-net-exporter-crude-oil-2023-2022-12-19/
HOUSTON, Dec 19 (Reuters) - The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year.
Sales of U.S. crude to other nations are now a record 3.4 million barrels per day (bpd), with exports of about 3 million bpd of refined products like gasoline and diesel fuel. The United States is also the leading liquefied natural gas (LNG) exporter, where growth is expected to soar in coming years.
The United States already produces more oil than any other country in the world including Saudi Arabia and Russia. U.S. shale fields are aging and production growth this year has been sluggish. Overall output should reach a record 12.34 million bpd next year - but only if prices are lucrative enough to encourage oil drillers to pump more.
Export terminal operators are rushing to boost their capacity to better service the giant tankers that can carry more than 2 million barrels of oil.
"Russia has proven to be an unreliable supplier," said Sean Strawbridge, chief executive of the largest U.S. oil export facility, Port of Corpus Christi. "That really creates a wonderful opportunity for American producers and American energy."
Corpus Christi could see a 100,000 bpd increase in exports next year, Strawbridge said, on top of the record shipments of 2.2 million bpd in October.
LNG HITS RECORD
The United States became the world's largest exporter of liquefied natural gas during the first half of 2022, surpassing Qatar and Australia, on the back of demand from Europe and surging prices.
LNG exports likely will continue to rise into 2023 as Europe scrambles to refill storage depleted this winter, said Matt Smith, analyst at Kpler.
Philippines potential $26.3 trillion OIL and GAS Industry
Virtual town hall Dec 30, 2022 U.S. v. Brian Dvorak, et al (CMKM)
Case number: 2:09-CR-00132-RLH-RJJ
November 15, 2022: The U.S. Attorney's Office will host a virtual town hall for victims and shareholders in this case on December 30, 2022, at 10:00 am PT.
Has gasoline demand peaked?Yes it has!
Internal combustion engines are sipping less gas as EV demand is on the rise.
Peak crude oil demand will follow peak gasoline demand this decade or next as ground transportation demand dries up. Crude oil is likely already in a bear market. Lower highs and lower lows with a test below $50 followed by a $50 -70 trading range seems probable.IMO
$100 oil may never be seen again.Price supports may be needed to provide continued investment and stable production as the EV transformation matures.
Perhaps peak food production or peak jobs caused by AI will bring the End Times but Peak Oil doesn't look like the straw that breaks the camel's back.HH
" Demand for the fuel(gasoline), which uses more than a quarter of the world’s crude, has already peaked. Part of that is about electric cars — BloombergNEF estimates that they’re already subtracting about 1.7 million daily barrels from global consumption. Still, much of it is just that plain old internal combustion engines are sipping less gas. New US cars now travel nearly twice as far per gallon as they did at the start of the Obama administration, with light trucks and SUVs increasing efficiency by a more modest 59%."
"After more than a century of almost continual growth, the world’s appetite for oil is peaking, and will soon enter terminal decline."
Analysis by David Fickling | Bloomberg
September 29, 2022
https://www.washingtonpost.com/business/energy/peak-oil-has-finally-arrivedno-really/2022/09/28/f67f2f0a-3f68-11ed-8c6e-9386bd7cd826_story.html
As older, less efficient cars are phased out of the fleet, the entropy of the scrapyard is reducing gasoline demand as rapidly as the innovation of the electric vehicle manufacturer. It’s no accident that major refiners such as Reliance Industries Ltd. are already looking beyond road transport, and reconfiguring their plants to produce aviation fuel and petrochemicals instead.
That’s not enough for those who paint a rosy future for oil demand to point to historic correlations with economic growth and argue that the pattern will repeat once again. Away from forecasters’ spreadsheets, OPEC spare capacity is already wafer-thin, and upstream investment is running at not much more than half its level last time crude prices were in the vicinity of $100 a barrel. The oil industry responsible for supplying additional barrels isn’t spending the money to ensure they’ll turn up — and if that doesn’t happen, consumption has no prospect of growing.
440 nuclear power reactors with 55 under construction currently
"Today there are about 440 nuclear power reactors operating in 32 countries plus Taiwan, with a combined capacity of about 390 GWe. In 2021 these provided 2653 TWh, about 10% of the world's electricity."
"Significant further capacity is being created by plant upgrading."
"About 90 power reactors with a total gross capacity of about 90,000 MWe are on order or planned, and over 300 more are proposed. Most reactors currently planned are in Asia, with fast-growing economies and rapidly-rising electricity demand.Many countries with existing nuclear power programmes either have plans to, or are building, new power reactors."
Plans For New Reactors Worldwide(Updated November 2022)
https://world-nuclear.org/information-library/current-and-future-generation/plans-for-new-reactors-worldwide.aspx
by 2030 145 million electric vehicles will be on the road
Number of electric vehicles
Between 2012 – 2021, around 17 million electric vehicles were sold worldwide (that includes all-electric vehicles and plug-in hybrid vehicles combined). It’s expected that 145 million electric vehicles will be on the road by 2030 (including electric cars, buses, vans, and heavy trucks).
In the past years, we have seen exponential growth in electric car sales.
Electric car sales in USA
USA electric car sales mostly benefited from the launch and first deliveries of electric pick-up trucks in 2022 (greater interest in large vehicles).
The US charging infrastructure is getting built out fast, and Tesla’s opening up the Supercharger network. Also, president Biden is a passionate supporter of the EV industry.
Electric car adoption in the US is happening at a faster pace than predicted. California has the highest EV demand in the USA with 1 million plug-in electric cars sold.
https://tridenstechnology.com/electric-car-sales-statistics/
The future of electric cars and EV industry predictions show that we’ve only just started with the EV revolution.
The future of electric unit sales is expected to reach 16,206.900 cars in 2027.
2022 10.6 mil EV sales (a growth of 57 % over 2021) expected
"For the full year of 2022, we expect sales of 10,6 million EVs, a growth of 57 % over 2021, with BEVs reaching 8 million units and PHEVs 2,6 million units. By the end of 2022 we expect nearly 27 million EVs in operation, counting light vehicles, 70 % are BEVs and 30 % PHEVs. Sales of Fuel Cell Vehicles (FCEV) in the light vehicle sector have declined by -9 % so far and are below 20 000 units annually. Current sales are from 5 vehicle models and most sales are in South Korea and USA. We estimate their current population to ca 55 000 units."
"Global EV sales continue strong. A total of 4,3 million new BEVs and PHEVs were delivered during the first half of 2022, an increase of +62 % compared to 2021 H1."
https://www.ev-volumes.com/
Global EV Sales for 2022 H1
By Roland Irle, EV-Volumes
EV demand poised to turn crude oil demand downward this decade.
(Crude oil bear market may already be here IMO)
"Road transport represents the largest share of demand for crude oil, at 44% (Figure 5) with the pace of transport electrification the most significant factor in determining future demand for oil. Figures 6 to 9 show that the electrification trend in the transport sector is gathering pace with electric vehicle (EV) sales, deployment of charging infrastructure, and battery range (as a proxy for technological development) all showing accelerating trends. In the case of passenger cars, it is easy to envision that in the next decade there will be a sharply reduced market for internal combustion engine vehicles.
The steep rate of change is being driven by evolving government policy. Governments covering 25% of the global market have announced 100% EV sales mandates for 2035, and EV-related subsidies doubled in 2021 to nearly USD 30 billion (IEA, 2022). These kinds of policies are low-hanging policy fruit for the many governments looking for ways to address climate change. They can be combined with popular industrial subsidies aimed at fostering competitive firms in the green markets of the future and employment-creating spending on charging infrastructure.
"As a result, consumer uptake is poised to hit significant tipping points well before 2035, triggered by several factors, including the increasing affordability of electric vehicles. Under most assumptions, EVs are already cheaper on a lifetime basis or even straight off the lot if financed (Clean Energy Canada, 2022; Direct Line Group, 2020; Orvis, 2022). Upfront cost parity is expected to come in the mid-2020s (Bush, 2020). Increasing range, the availability of infrastructure, and growing consumer confidence that comes from familiarity with the technology will also drive EV uptake.
"According to Bloomberg NEF, “The market is shifting from being driven primarily by policy, to one where organic consumer demand is the most important factor. As regulatory drivers begin to play less of a role, consumer adoption dynamics—the ‘S-curve’—take over” (BloombergNEF, 2022). The S-curve describes the uptake of new technology that eventually takes off not in a linear fashion but exponentially, with sudden and overwhelming effects (Foster, 1986). There are numerous examples of such a dynamic with past technologies, including cellphones, personal computers and, ironically, internal combustion engine passenger vehicles.
Another driver of S-curve adoption rates will be the reluctance of new car buyers to purchase a conventional vehicle that they see as having low resale value—a positive feedback effect that will intensify as the market share of EVs climbs (Arib & Seba, 2017). EVs may also play an outsized role in the destruction of demand for oil well beyond their market share. Fleet owners, taxis, and ride-hailing services will be early adopters of EVs, given lifetime cost considerations, and their vehicles are driven many more kilometres than the average (Arib & Seba, 2017). Owners of multiple vehicles will likely also prefer to use the EVs over conventional vehicles if they have a choice, given the significant difference in operating costs.
"To be on track with the IEA’s Net-Zero scenario, 64% of passenger car sales and 5% of truck sales would have to be electric by 2030 (IEA, 2021). The above trends suggest that this trajectory is within range.
From the perspective of road transport—the biggest factor in oil demand—the trends are tracking toward the IEA’s Net-Zero scenario. This would mean a significant displacement of oil demand beginning before 2030 and picking up pace as the share of electric vehicles grows exponentially. Compared to the business-as-usual Stated Policies scenario, the Net-Zero Scenario implies a drop in the demand for oil needed for road transport of 18.8 mbpd by 2030 and 49.9 mbpd by 2050."
By Aaron Cosbey on September 16, 2022
https://www.iisd.org/articles/deep-dive/canada-can-expect-declining-oil-demand
Global Demand for Oil Will Be in Decline by 2030
"Comparing the IEA’s scenarios against observed trends suggests global demand for oil will peak before 2030 and thereafter decline. Similar conclusions have been drawn by other independent analysts (BP, 2022; DNV, 2021; McKinsey, 2022; Rystad Energy, 2022), and, in the same vein, the CER’s only plausible scenario shows Canadian production peaking in 2032.
"Demand reduction will be driven primarily by road transportation, which accounts for 44% of oil demand. Trends in climate policies, technological improvements, and consumer behaviour suggest demand reduction in line with the IEA’s NZE. These will begin before 2030 and will accelerate thereafter."
The East Mediterranean Is Primed For A Natural Gas Boom
By Tsvetana Paraskova - Nov 14, 2022
https://oilprice.com/Latest-Energy-News/World-News/The-East-Mediterranean-Is-Primed-For-A-Natural-Gas-Boom.html
The Eastern Mediterranean could become a “stable supplier of energy” to the European Union if the recent maritime border agreement between Israel and Lebanon spurs more investment in the region, the head of the company that launched the latest gas production project says.
“I think there is a lot more gas to be found,” Mathios Rigas, chief executive of Energean, told the Financial Times in an interview published on Monday.
Energean said at the end of October that first gas was achieved at the Karish field offshore Israel, two weeks after Israel and Lebanon reached a historic agreement to settle their long-running dispute over their maritime border.
“We have delivered a landmark project that brings competition to the Israeli gas market, enhances security of energy supply in the East Med region and brings affordable and clean energy that will displace coal-fired power generation, making a material impact to the environment,” Energean’s Rigas said last month.
The Israel-Lebanon deal could pave the way to more oil and gas exploration in the Eastern Mediterranean region where major gas discoveries have been made in recent years. The settling of the dispute could encourage more investment in gas supply from an area close to the EU which, in the future, could help the bloc diversify its gas supply sources as it seeks to ditch Russian gas dependence by 2027.
More exploration and investments in the Eastern Mediterranean could make the region a “stable supplier of energy” for the EU, Energean’s Rigas told FT.
Under the Israel-Lebanon agreement, the Karish oil and gas field and an area known as the Qanaa prospect are expected to be in Israeli and Lebanese waters, respectively.
A week after the border deal, Lebanon urged French supermajor TotalEnergies, which owns the contract to explore Lebanese waters, to start drilling in Block 9.
Virtual town hall Dec 19, 2022 U.S. v. Brian Dvorak, et al (CMKM)
Case number: 2:09-CR-00132-RLH-RJJ
November 15, 2022: The U.S. Attorney's Office will host a virtual town hall for victims and shareholders in this case on December 19, 2022, at 10:00 am PT.
Suriname has 30 billion barrel potential of recoverable oil equivalent resources.
"Oil Majors Are Betting Big On Suriname" By Matthew Smith - Nov 14, 2022
https://oilprice.com/Energy/Crude-Oil/Oil-Majors-Are-Betting-Big-On-Suriname.html
"The appeal of offshore Suriname is amplified by the fact that the oil discovered to date has been light to medium with low sulfur content. That means it is cheaper and easier to refine into high-quality fuels, and there is a low carbon cost associated with its extraction compared to the heavier sourer oil grades produced in Venezuela, Colombia and Ecuador. Projects in Suriname have an estimated breakeven price of $40 per barrel Brent, which is expected to fall further as development ramps up, and vital infrastructure is put in place. For these reasons, offshore Suriname is an appealing investment jurisdiction for international energy companies, particularly when it is considered that many Latin American countries have far higher breakeven prices."
"According to Staatsolie, data is has obtained points to offshore Suriname containing up to 30 billion barrels of recoverable oil equivalent resources."
Namibia Could Join OPEC If Recent Oil Discoveries Fulfill Potential
https://oilprice.com/Latest-Energy-News/World-News/Namibia-Could-Join-OPEC-If-Recent-Oil-Discoveries-Fulfill-Potential.html
Namibia could consider joining OPEC if recent offshore oil discoveries prove to be large enough for commercial development, Namibian petroleum commissioner Maggy Shino told Bloomberg on Wednesday, as oil majors that have made recent discoveries prepare for appraisal drilling.
TotalEnergies made in February a significant discovery of light oil with associated gas on the Venus prospect offshore southern Namibia. The initial results are “very promising” in the so-called Orange Basin, Kevin McLachlan, Senior Vice President of Exploration at TotalEnergies, said at the time.
Venus in Namibia could be a “giant oil and gas discovery,” TotalEnergies said in an investor presentation last month. Appraisal and testing are slated for 2023.
Shell said in April that it was “very encouraged” by the early results from the deepwater Graff-1 exploration well in the same Orange Basin offshore Namibia, completed earlier this year.
“Over the coming months, we’ll need to conduct further evaluation of the well results, and additional exploration activity, in order to determine the size and recoverable potential of the hydrocarbons that were identified,” said Dennis Zekveld, Shell’s Country Chair in Namibia.
Shell also made a second discovery in the Orange basin in April.
Shell’s Graff and TotalEnergies’ Venus discoveries could be transformational for Namibia, analysts at Wood Mackenzie said earlier this year.
“There’s a new kid on the block in Sub-Saharan Africa’s upstream industry. After two successive giant offshore discoveries, Namibia is the hottest play in the region right now,” WoodMac said in March.
But Namibia, as well as Shell and TotalEnergies, will have to wait until the appraisal and testing programs are completed next year to see if the early promising results really meant that the oil discoveries are giant. The economy of Namibia, neighbor to the south of OPEC producer Angola, is currently valued at around $11 billion. If the discoveries are developed, they could double the country’s GDP.
By Tsvetana Paraskova for Oilprice.com
https://oilprice.com/Latest-Energy-News/World-News/Namibia-Could-Join-OPEC-If-Recent-Oil-Discoveries-Fulfill-Potential.html
"oil production" reached an all-time high in 2019, at nearly 95 million barrels
" the United States is currently the world's largest producer of oil, followed by Saudi Arabia and Russia."
Supplementary notes:
Figures include crude oil, shale oil, oil sands, condensates and NGLs. Liquid fuels from other sources such as biofuels and synthetic derivatives of coal and natural gas are excluded, as well as oil shales/kerogen extracted in solid form.
Global oil production 1998-2021
Published by N. Sönnichsen, Jul 7, 2022
https://www.statista.com/statistics/265203/global-oil-production-since-in-barrels-per-day/
Global oil production amounted to 89.9 million barrels per day in 2021. The level of oil production reached an all-time high in 2019, at nearly 95 million barrels. However, the coronavirus pandemic and its impact on transportation fuel demand led to a notable decline in the following year.
Rising production and consumption
Apart from events surrounding global economic crisis as in the late 2000's and 2020, oil production consistently increased every year for the past two decades. Similarly, global oil consumption only decreased in 2008, 2009, and 2020, but has otherwise increased to a higher level year after year. Oil and oil products remain invaluable commodities as most transportation fuels are petroleum-based and oil is a major raw material for the chemicals industry.
Production by region and country
While total production is rising, regional distribution has shifted, with the share of production declining the most in Europe and the Commonwealth of Independent States (CIS) since 2008, and rising the most in North America. Even though as a region the Middle East still produces the largest share of oil worldwide, the United States is currently the worl'ds largest producer of oil, followed by Saudi Arabia and Russia.
acca I'm still believing Robert Maheu won a 40 cent pps for CMKXers and it should be distributed right after the restitution show concludes. That makes me delusional in I suppose. We shall see.........
"During the period from March, 2004 through August, 2006, on behalf of CMKM Diamonds, Inc. Robert A. Maheu, with assistance from others, negotiated a settlement "
2015.09.14 - Accadacca and Desperado share info from Peter Maheu:
CMKX shareholders will receive .40 per share from the original funds collected by Robert Maheu.
The team did not collect any fines or penalties.
.14 will be going to an unnamed entity.
The money is nontaxable
Jan 11, 2016:"Remember the paramount reason we are nearing the successful end of our Journey... "CMKX Stockholder Unity". It was how the forces of "GOOD" defeated the forces of "Evil". And don't forget to pass the saga on to future generations, as how a relatively small group of individuals would not cave in against those who tried desperately to defeat us and failed!!! ~ Desperado
Obituary of William Earl Bodenmiller(Desperado)
William Earl Bodenmiller was born in Detroit on December 23, 1945. He was the son of the late Homer A. and Genava Mae (Smith) Bodenmiller. When Bill was quite young his father would pass away. At this time his aunt, Bonita Joyce Smith, would move in with Genava to help raise the children. Bill was a 1963 graduate of Western High School. Later he would continue his studies to earn his Degree in Civil Engineering.
Bill enlisted in the United States Army and became one of the elite Green Beret. He would serve honorably from August of 1966-January 1989, spending three tours in Vietnam and being injured five times. For his exceptional service and bravery, Bill, was awarded three purple hearts, three bronze stars: two with valor, and a silver star.
Bill was also very active, working in the automotive industry for forty years. He performed in many capacities from car sales, management, consultant for Ford Motor Company, and had owned three dealerships in Tennessee, Ohio, and Indiana. On numerous occasions, Bill, had earned the prestigious Ford President’s Award. He would retire in 2005.
Bill was awarded the key to the City of Dearborn for saving a police officer’s life. This event also awarded him the privilege of wearing the Navy Trident on his Army uniform.
In October 1987, Bill, would meet a special lady, Sandy (Moore) Cousino, a dealership office manager. The two quickly became good friends. In 2000, they began dating and finally in 2017 he asked for her hand in marriage.
Bill was a food connoisseur, and in fact had a knack for finding great places to eat. He was a member of the NRA, enjoyed hunting and collecting guns, military memorabilia, and watching John Wayne movies.
Bill, age 74, of Monroe passed away on Saturday, February 22, 2020 in the Emergency Department of Promedica Monroe Regional Hospital. In addition to his parents his passing was preceded by a sister: Carol Shirley Westveer; a stepson: Dennis Cousino; and a brother-in-law: Delmar Moore.
To cherish his memory he leaves a beloved wife: Sandy of Monroe; two children: Rhonda (Don) Baron of Clarkston and John (Sally) Bodenmiller of Olathe, Kansas; a step daughter: Heather Mesagna of Dearborn; a brother: Ray "Rocky" (Carmine) Bodenmiller; a sister-in-law: Delorse Moore; two grandchildren: Christian (Mikela) and Christopher Bodenmiller; five step grandchildren: Zoe and Mary Catherine Matje, Cailyn (Steven) Flood, Madison and Grayson Cousino; one great granddaughter, the apple of his eye, 3 year old: Jazelle; and a special, long-time friend: Roberta Katona, Bob "Butch" Maley, along with many others.
Friends may gather from 2:00pm-8:00pm on Thursday, February 27, 2020 and from 10:00am until 11:00am on Friday, February 28 at Merkle Funeral Service, North Monroe; 2442 North Monroe Street (734)384-5185. Military honors will be provided by Monroe Veterans of Foreign Wars Post 1138 at 11:00am Friday also at Merkle’s followed by a Celebration of His Life with Chaplain Paul Bentley officiating. Burial will take place at Great Lakes National Cemetery.
At some date prior to June 1, 2004 the Securities and Exchange Commission in concert with the Department of Justice of the United States, together combined with Robert A. Maheu and others to utilize CMKM Diamonds, Inc. for the purpose of trapping a number of widely disbursed entities and persons who were believed to be engaged in naked short selling of CMKM Diamonds Inc. stock and cellar boxing the company.
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The Securities and Exchange Commission and the Department of Justice, with assistance from the Department of Homeland Security, believed and developed evidence that said short sellers were utilizing their activities to illegally launder moneys, wrongfully export moneys, avoid payment of taxes, and to support foreign terrorist operations. To fulfill the plan to criminally trap such wrongdoers, the Securities and Exchange Commission, with assistance from the Departments of Justice and Homeland Security:
(d) Consented to, facilitated, and supported the conferences between Robert A. Maheu and his associates on the one hand, and the wrongdoing short sellers on the other, all for the purpose of settling the potential liability of said wrongdoers with consent of the U. S. Government and a representation of no criminal prosecution for such illegal sales;
33. During the period from November, 2004 through April, 2005, CMKM Diamonds, Inc. negotiated the sale of some of its Saskatchewan, Canada, mineral claims to three Chinese domiciled corporations with the advice and consent, inter alia, of the Securities and Exchange Commission. Proceeds from the consummation of such sales were placed into a frozen trust for disbursal at a later time.
34. During the period from March, 2004 through August, 2006, on behalf of CMKM Diamonds, Inc. Robert A. Maheu, with assistance from others, negotiated a settlement with the illegitimate brokers, dealers, market makers, hedge funds, and other persons and entities that had engaged in naked short selling of CMKM Diamonds Inc. stock and cellar boxing the company. In exchange for a U. S. Government promise of no prosecution for such sales, the wrongdoers each promised to pay negotiated amounts to a frozen trust for disbursal at a later time.
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Case Number CV10-00031 JVS (MLGx) filed on behalf of CMKM/CMKX Plaintiffs on 8th January 2010 which we posted here on 9th January 2010
excerprts:
(#34 is very important)
18. In early 2005, CMKM announced the addition of Robert A. Maheu to the Board of Directors who shortly thereafter became the co-chairman of the Board; CMKM announced a new "corporate strategy plan to dramatically and comprehensively transform" the company for generation of consistent, long-term growth and profitability for the shareholders; CMKM filed an amended Form 15 on February 17, 2005 reinstating the company to a public reporting status; and on March 3, 2005 was notified by the Securities and Exchange Commission of a temporary suspension of trading of the company’s stock (Pink Sheets-CMKX) based upon, inter alia, concerns over the "adequacy" of publicly available information.
22. On October 20, 2005: Robert A. Maheu resigned as a member and co-chairman of the CMKM Board of Directors; Urban Casavant agreed to remain as the sole officer and Director of CMKM until the affairs of CMKM were wound up to ensure all shares and other assets of CMKM were properly distributed to its stockholders;
23. On October 21, 2005 CMKM approved formation of a Task Force consisting of Robert A.
Maheu, Donald J. Stoecklein and Bill Frizzell for the purpose of assisting CMKM and Mr. Maheu, as "designated Trustee, to conduct an orderly and verifiable pro rata liquidating distribution of any Entourage Mining Ltd. shares…and any other available assets of CMKM;"
24. On November 4, 2005 CMKM established a web site (CMKMTaskForce.com) for the purpose, inter alia, of advising all shareholders to request physical share certificates evidencing their ownership interest in CMKM as one means of establishing that they were bona fide shareholders of the company. The company intended at that time to wind up its affairs and distribute the 50 million shares of Entourage Mining Ltd. stock and any other assets, including previously unpaid dividends, to the bona fide shareholders.
25. A frequently asked question (FAQ) page was added to the web site on the evening of November 4, 2005 and in response to a question about the degree of naked shorting of CMKM stock, the Task Force indicated that "Credible information indicates the number of naked short shares is potentially as high as 2 Trillion shares".
27. On March 16, 2006 the Task Force issued a public release that "…we received a visit in our office [in Tyler, Texas] by an E-Trade rep today. This rep personally hand delivered copies of approximately 4000" certificates. Further information regarding on-going discussions with the DTCC and other brokerage houses was also provided.
28. The Task Force provided additional information on March 20, 2006, extending the time for registration of certificates to May 15, 2006, advising the shareholders that Urban Casavant and his immediate family would not participate in the share distribution, and advising that a printed notice to stock holders would be published in at least one nationally circulated United States newspaper.
By late Fall, 2006, the Task Force had received and counted copies of certificates from more than 39,000 shareholders, evidencing more than 635 Billion shares.
31. During the period of June 1, 2004 through October 28, 2005 a total of 2.25 Trillion "phantom" shares of CMKM Diamonds Inc, was sold into the public market through legitimate brokers, illegitimate brokers and dealers, market makers, hedge funds, ex-clearing transactions and private transactions. The sales of the majority of such shares were at all times known to the Securities and Exchange Commission, including Defendants herein.
32. At some date prior to June 1, 2004 the Securities and Exchange Commission in concert with the Department of Justice of the United States, together combined with Robert A. Maheu and others to utilize CMKM Diamonds, Inc. for the purpose of trapping a number of widely disbursed entities and persons who were believed to be engaged in naked short selling of CMKM Diamonds Inc. stock and cellar boxing the company.
The Securities and Exchange Commission and the Department of Justice, with assistance from the Department of Homeland Security, believed and developed evidence that said short sellers were utilizing their activities to illegally launder moneys, wrongfully export moneys, avoid payment of taxes, and to support foreign terrorist operations. To fulfill the plan to criminally trap such wrongdoers, the Securities and Exchange Commission, with assistance from the Departments of Justice and Homeland Security:
(d) Consented to, facilitated, and supported the conferences between Robert A. Maheu and his associates on the one hand, and the wrongdoing short sellers on the other, all for the purpose of settling the potential liability of said wrongdoers with consent of the U. S. Government and a representation of no criminal prosecution for such illegal sales;
33. During the period from November, 2004 through April, 2005, CMKM Diamonds, Inc. negotiated the sale of some of its Saskatchewan, Canada, mineral claims to three Chinese domiciled corporations with the advice and consent, inter alia, of the Securities and Exchange Commission. Proceeds from the consummation of such sales were placed into a frozen trust for disbursal at a later time.
34. During the period from March, 2004 through August, 2006, on behalf of CMKM Diamonds, Inc. Robert A. Maheu, with assistance from others, negotiated a settlement with the illegitimate brokers, dealers, market makers, hedge funds, and other persons and entities that had engaged in naked short selling of CMKM Diamonds Inc. stock and cellar boxing the company. In exchange for a U. S. Government promise of no prosecution for such sales, the wrongdoers each promised to pay negotiated amounts to a frozen trust for disbursal at a later time.
35. Plaintiffs herein are informed and believe, and based thereon allege, that other moneys have been collected for the benefit of the shareholders of CMKM Diamonds, Inc. from the Depository Trust & Clearing Corporation, from the United States Government, and from the sale of additional assets including consent to enter into joint venture agreements with other companies holding mineral claims in Saskatchewan, Canada. Plaintiffs herein are further informed and believe, and based thereon allege, that said moneys, collected for the benefit of shareholders have also been placed in a trust or are otherwise now held in trust by the Depository Trust & Clearing Corporation and the United States Treasury.
36. Plaintiffs herein are informed and believe, and based thereon allege, that at all times mentioned, the Securities and Exchange Commission reserved unto itself the sole and absolute discretion to determine when moneys collected pursuant to the scheme set forth above would and could be released for distribution.
37. Demand for release of said moneys has been repeatedly presented to the Securities and Exchange Commission without result. Agents and employees of the Securities and Exchange Commission and the Department of Justice have represented repeatedly that the release of moneys for distribution was imminent, and/or would occur within several weeks, and/or would occur within less than a month. Each of said representations have been made knowing them
to be false, and at the specific direction of the named Defendants. These actions of withholding distribution of said moneys, without compensation and without due process of law, amount to a taking of the property of the individual Plaintiffs and of all similarly situated.
38. At all times mentioned herein, the Defendants acted with deliberate indifference or reckless disregard for the Constitutional and other rights of all Plaintiffs, or with the intention and knowledge that they were violating Plaintiffs’ Constitutional or other rights or to cause them other injuries, losses and damage.
39. As a result of the Defendants’ misconduct, each of the named Plaintiffs and all of those similarly situated, have been denied their Constitutional rights, including, but not limited to, their Fifth Amendment right to be secure in their property, free from taking without just compensation and without due process of law, and have suffered injuries and property loss in excess of Three Trillion Dollars.
58. As a result of the Defendants’ acts, Plaintiffs and all those similarly situated have suffered injuries and property loss in excess of 3.87 Trillion Dollars in an exact amount to be determined at the time of Trial. Because Defendants’ actions were intentional or done with callous disregard or deliberate indifference to the Constitutional and other rights of all Plaintiffs, this Court should award punitive damages against each individually named Defendant.
Dated: January 10, 2010.
Next town hall Sept 30
Info from Aug 12 attendees:
"We are still working on finishing up, he hopes to be able to tell us, everything is turned into the courts, by Sept. 30th" Pretty much all he said."
"many shareholders have just found out about the restitution process Tony Lopez said which need to be processed and everything should be done by September.
next town hall meeting will be held on September 30th where he will announce that everything has been completed and has been turned over to the restitution department.
and that will complete it for the DOJ Nevada and we are in the hands of the restitution department."
It appears the long drawn out legal issues are a smoke screen. The endless legal issues have likely delayed the distribution of the alleged funds collected and protected in a trust that are waiting for all legal issues to be resolved. The shoe fits the rumors. IMO
Next town hall Aug 12
The U.S. Attorney's Office will host a virtual town hall for victims and shareholders in this case on August 12, 2022 at 1:00 pm PT.
www.justice.gov/usao-nv/victim-witness-assistance/us-v-john-edwards-et-al-cmk
United States v. Brian Dvorak, et al (CMKM)
Case number: 2:09-CR-00132-RLH-RJJ
August 4, 2022: The U.S. Attorney's Office will host a virtual town hall for victims and shareholders in this case on August 12, 2022 at 1:00 pm PT.
Following is the link to register to the virtual town:
usao.webex.com/usao/onstage/g.php?MTID=ea0e05bc27181fd265d9a91ba0fb0fda2
For those that missed the town hall:
portrush said:
For those that missed the town hall:
Requested a 90 minute meeting time (probably a WebEx default) but lasted just three minutes.
US DOJ Attorney Tony Lopez did make the comments.
Seemingly apologetic for the delay, though one does ask oneself—still? The DOJ has only been involved since 2005 and he’s talking $25 per…so it’s kind of frustrating.
He acknowledged that. Also noted he’s been getting emails and responding to those who’ve sent verification of share purchases. Said he will get those folks added to the VNS list…which could indicate why some of us already on that list have not received a reply to our emails about being recognized as harmed.
He said there’s just one more step to complete the task, getting the case on the docket for a judge to determine restitution. Mentioning that will take about 6 weeks, he’s going to go ahead and set up the next webinar for 8/16/22 at 10am pacific. He will send email notices beforehand.
Not great, but he could have said game-over go about your life. And lest we forget, this is all about $25 per person…right?
Questions, concerns; tony.lopez@usdoj.gov
send copies.eom
Less than 10% of CMKXers believe the .40pps payout is real.More than 40% in US do not believe Biden legitimately won election
https://www.theguardian.com/us-news/2022/jan/05/america-biden-election-2020-poll-victory
More than 40% of Americans still do not believe that Joe Biden legitimately won the 2020 presidential election despite no evidence of widespread voter fraud, according to a new Axios-Momentive poll.
The poll, released on the eve of the first anniversary of the attack on the Capitol by a pro-Trump mob, found that 55% of those surveyed believe Biden won the election. That figure has barely changed since Axios’s poll from 2020, published shortly before the insurrection. That poll, published in 2020, found 58% said that they accepted Biden as the legitimate winner of the presidential election.
Despite Biden’s inauguration, the attack on the Capitol and the multiple investigations that have debunked the lies pushed by the former president that the election was stolen, the poll suggests that the same level of doubt persists.
Nobody duped Robert Maheu and Maheu was trusted to do work the government wanted done knowing he would die rather than reveal a secret. He would never expose his role in any secret operation including the CMKM sting and the settlement he got for certificate holding shareholders.There were about 45,000 shareholders with an average of 11 million shares.The $200 billion collected from the over 2 trillion counterfeited shares resulted in the .40 pps Peter Mahue told us about through Acca in 2015.That will be the amount we will receive this year after the DOJ restitution show concludes as there was be no interest collected.IMO
Global Intelligence:
A company with worldwide contacts in business, government and politics has opened here to gather and interpret information for businesses planning to compete in the global marketplace.
Global Intelligence Network is an information-gathering company led by a group that says it has past and present associations with the Central Intelligence Agency.
The company's mission: to give companies the information they need to make intelligent decisions before they invest millions of dollars in an operation abroad. That includes due diligence investigations, competitor analysis, checking out new business partners, customers and vendors and verifying financial, technical and political capabilities.
Other principals of Global Intelligence, each of whom have worked directly or indirectly with CIA contacts:
* Robert Maheu, Peter's father, who for years was the primary consultant to Howard Hughes and his various Nevada enterprises. His clients have included the United Steelworkers of America, Greyhound Exposition Services, Sunbelt Communications Inc., Starvos Niarchos, Beijing Guoan Advertising Corp. and the CIA.
* Lawrence Casey, nephew of William Casey, the late director of the CIA, a former senior official in the Reagan and Bush administrations. Based in Palm Beach, Fla., Casey also has served in executive staff positions to several members of Congress.
* Thomas Lorentzen, a former top executive within the U.S. Small Business Administration in two presidential administrations. With a background in economics, business and politics, Lorentzen has worked with the American Gaming Association, International Game Technology and the Consumer Electronics Manufacturers Association. The owner of McKinley Group, a public relations and political consultant group, Lorentzen assisted in political campaigns at all government levels, working to elect President Reagan and Sen. Paul Laxalt and on the gubernatorial campaign of Cheryl Lau.
* Sam Nixon, an expert in regulatory compliance, fraud investigation and criminal intelligence. A member of the Economic Crime Investigators Association, the North American Gaming Regulators Association and the International Association of Financial Crimes Investigators, Nixon worked previously with the Arizona Department of Gaming as a division manager specializing in corporate investigations.
While the principal operators of the company know their way around American intelligence circles, their contacts in the outside world are astonishing. Global Intelligence says it has a working rapport with the CIA, the FBI, the National Security Agency and the Office of Naval Intelligence. The company also is affiliated with the Association of Former Intelligence Officers, Israel's Mossad and the former Soviet Union's KGB.
The associates pride themselves in having inside knowledge on government, politics and business affairs all over the world. They have contacts worldwide and while regimes rise and fall wherever there's turmoil, operatives usually stay in circulation in their respective countries because they stay neutral in their political affiliations.
more ... https://lasvegassun.com/news/1998/feb/02/mining-for-business-intelligence/
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Former spy brokered big deals that led to mob’s exit
Wednesday, Aug. 6, 2008 |
On his deathbed, Robert Maheu reminisced with his longtime friend Gordie Margulis about several moments in his life, but perhaps none as poignant as what happened on April 16, 1961, the night before the doomed invasion of Cuba.
more... https://lasvegassun.com/news/2008/aug/06/his-was-influence-backed-hughes-cash/
Acca fit the role he was needed for. Liking him doesn't matter. Des confirmed Acca's connection to the Maheu's and that matters. I love this adventure! LOL!
Yep the .40pps sure fits the too good to be true saying but it also fits a $200 billion "settlement" based on $4 billion of cash in hand from a sale of some of the claims and value in the ground supported by samples.Mahue could negotiate with confidence for an amount that simply totaled up to an astounding sum that TPTB had to go along with and caused them great concern because of it becoming news.So many locked in naked short shares and a company with cash and unlimited potential equals $200 billion in a frozen trust and a story too big to tell the public.IMO!