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Post by lisacharlotte on Oct 31, 2020 12:22:05 GMT
Manual transmission is cheaper but not always available. I really like driving a stick, but it's a bitch to deal with icy winters. Our last manual was a diesel VW Jetta. Loved that car except on ice hills.
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May 10, 2024 16:54:56 GMT
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Post by Deleted on Nov 1, 2020 4:03:33 GMT
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Deleted
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May 10, 2024 16:54:56 GMT
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Post by Deleted on Nov 3, 2020 19:20:04 GMT
Here's a nice graph to explain how extraordinary the last decade has been in energy. This mostly relates to fuels for electricity, but they're a huge part of the global energy picture. And the last decade is when the vast majority of that sweet investor/pension money was still focused on the juicy returns in the oil majors. Now that they've started seeing the writing on the wall, and investing in new cleaner technologies, the next decade will be even more astounding. www.lazard.com/perspective/lcoe2019
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May 10, 2024 16:54:56 GMT
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Post by Deleted on Dec 1, 2020 21:02:11 GMT
Now Canadian operations are starting the long process of writing down stranded assets. It's only the beginning: "“Imperial has re-assessed the long-term development plans of its unconventional portfolio in Alberta, Canada and no longer plans to develop a significant portion of this portfolio,” the company said in a statement after markets closed on Monday. The company said would take an impairment charge of about $900 million to $1.2 billion in the latest quarter. “These non-core assets are non-producing, undeveloped assets and the company does not expect any material future cash expenditures related to this impairment. Not included in this impairment are the high-value, liquids-rich portion of the company’s unconventional asset portfolio, which the company still plans to develop,” the company said. The decision comes after France’s Total SE took an US$8 billion impairment earlier this year on the value of its assets, mostly in Canadian oilsands projects. Earlier this year, oil majors BP Plc and Royal Dutch Shell Plc had also written off the value of some of their global assets that were no longer feasible to produce. The moves suggest Canadian fears of stranded oil and gas assets are already coming to pass. The decision is also significant as, unlike many European oil majors, that had already divested from, scrapped or written down the value of, a number of their carbon-intensive assets, Imperial Oil and its parent company Exxon Mobil Corp. had been steadfast to date, believing their oil assets had a long runway rooms. But the mighty are now yielding ground. Yesterday, Exxon said it would write down the value of its natural gas properties by $17 billion to $20 billion, its biggest ever impairment, and slashed project spending next year to its lowest level in 15 years. In another signal that the fossil fuel industry may be turning into a long-sunset industry, Bank of Montreal pledged to exit “non-Canadian investment and corporate banking energy business.”" www.dailyheraldtribune.com/executive/executive-summary/posthaste-imperial-oils-massive-write-off-suggests-the-era-of-stranded-canadian-assets-is-already-here/wcm/585fde20-32f0-4d11-a0a2-bb3381396947
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May 10, 2024 16:54:56 GMT
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Post by Deleted on Dec 2, 2020 23:43:03 GMT
"Through all the shifts that have swept through the oil market in recent years, one thing has been a reliable constant: Exxon Mobil Corp. has remained resolute in its bullishness about the future of crude. In stark contrast to European competitors who've speculated about a peak in oil demand and switched investments toward renewables, Chairman Darren Woods has kept on preaching that old-time religion. The pullback by rivals shouldn’t be seen as a harbinger of doom for crude, but as an opportunity to spend more aggressively, Woods said at an investor day in March: “The best time to invest in these businesses is during a low, which will lead to greater value capture in the coming upswing.” Internal documents reviewed by Bloomberg Green earlier this year showed the company planned to increase its annual emissions 17% by 2025. Now even this most reliable of oil bulls seems to be having doubts. Exxon Mobil’s natural gas fields will be written down by as much as $20 billion, the company said Monday. More tellingly, those counter-cyclical spending plans are being marked to market. Annual capital investment through 2025 will be in the range of $20 billion to $25 billion, some $10 billion below the level that Woods forecast in March." www.bloomberg.com/amp/opinion/articles/2020-12-01/exxon-mobil-capitulates-to-peak-oil-demand-with-huge-writedown
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