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FriedButter

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US oil output set for first annual drop since pandemic​

US oil production will fall next year for the first time since the Covid-19 pandemic, according to a government forecast that will cast new doubt on Donald Trump’s “energy dominance” agenda.

The Energy Information Administration, a division of the energy department, on Tuesday said US oil production would drop from a record high of 13.5mn barrels a day now to about 13.3mn barrels by the end of next year, as slumping oil prices rattle the sector.

“With fewer active drilling rigs, we forecast US operators will drill and complete fewer wells through 2026,” the EIA said in a monthly report published on Tuesday. Active rigs had “decreased by much more” than it expected in a previous report, it said.

The gloomy official forecast comes just months after Trump was re-elected following a presidential campaign in which he vowed to “unleash” American drilling, promote more oil production, and drive down energy prices.

Soaring shale production in the past two decades made the US the world’s biggest oil and gas producer, upending global commodity markets while feeding domestic industry with a steady stream of cheap energy.

Line chart of weekly count of US oils rigs, since 2018, showing that oil rigs are at a post-pandemic low

Annual production last fell in 2021, during the Covid-19 pandemic in Trump’s first term, but recovered as oil prices rose during Joe Biden’s administration.

The new government forecast, which echoes predictions from shale executives, underscores the stresses facing the sector as rising supply from the Opec+ cartel and anxiety about the impact of Trump’s trade wars on the global economy push down crude prices.
Trump’s tariffs on steel and aluminium imports have also raised costs for steel and other crucial inputs in the oil sector, squeezing drillers’ margins, say executives.

Oilfield services company Baker Hughes last week said the number of oil rigs operating in the US was down to 442, a drop of nine in one week, and 50 fewer than a year earlier.

West Texas Intermediate, the US oil benchmark, settled at $64.98 a barrel on Tuesday, down 17 per cent since the high this year — and below the price needed by many shale drillers to break even. The EIA said international oil prices would fall to less than $60/b in 2026.

“The current administration is causing a lot of chaos. I’m really concerned that there’s not a plan,” Wil VanLoh head of private equity firm Quantum Capital Group, one of the shale patch’s biggest investors, told the Energy Capital Conference in Houston last week.

Some analysts expect US oil output to fall more steeply in the coming months. S&P Global Commodity Insights this week said total production could fall by 640,000 b/d from mid-2025 to the end of next year — a drop greater than the total produced by some Opec countries.
US oil benchmark, settled at $64.98 a barrel on Tuesday, down 17 per cent since the high this year — and below the price needed by many shale drillers to break even. The EIA said international oil prices would fall to less than $60/b in 2026.
 

taxiya

Brigadier
Registered Member
That is why Sanda is adopted by the PLA and police force instead of any of the traditional Chinese martial arts. It is a much more practical and grounded martial art. Sanda is derived from a combination traditional Chinese martial arts, so it still is a Chinese cultural heritage. Seeing it work in UFC is further vindication that the Chinese have successfully modernized their martial arts for modern circumstances. And that the PLA knows what they're doing.
I think it is the other way around. The so-called "Chinese martial arts" are plays made by street artists for food, they were never real techniques used by any Chinese military in the past. What the military used was and is always something practical and Sanda is just a morden name. PLA just continued using it.

It is the same thing as various "weapons" used in "martial arts", most of them did not exist in the military, or have been changed in shape beyond practical purpose. Such as the iconic 牛尾刀 which is the sword that "represents" "Chinese martial arts", but never used by the army.
iu


Another example is the dress in classic Chinese drama are far far away from actual traditional Chinese dresses.
 

tokenanalyst

Brigadier
Registered Member
War in the Pacific? Nah, more like World War 3.

Ukraine apparently has plans on attacking Chinese civilian and military ships as punishment for being friendly with Russia. They cannot do this without Western Intelligences. Specifically, the Americans. Rather ominous that the article uses the word “yet” because that appears to imply the plans already exist but the green light has not been given.
That would be the stupidest thing that Zelensky will ever do. Basically a death sentence for Ukraine if they force China to provide direct weapons to Russia.

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supercat

Colonel
That's why the US regime is banning Huawei.

I'm not surprised. BYD has become the top selling car brand in Singapore. For most consumers, cars are one of the most technology-rich and quality-demanding products. If most buyers are willing to consider your cars, then the barriers for your other products are broken.
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At the end, no amount of arms sales can save Taiwan.

Well.

Price wars grip China as deflation deepens, $30 for a luxury Coach bag?​

  • Deflation deepens in China as US tariffs add to gloomy economic mood
  • Luxury consumers increasingly shifting to second-hand market
  • But overcapacity, supply growth outpaces demand, leading to deeper discounts
  • Price wars unsustainable, new stores may close, industry exec says
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4Tran

New Member
Registered Member
War in the Pacific? Nah, more like World War 3.

Ukraine apparently has plans on attacking Chinese civilian and military ships as punishment for being friendly with Russia. They cannot do this without Western Intelligences. Specifically, the Americans. Rather ominous that the article uses the word “yet” because that appears to imply the plans already exist but the green light has not been given.
This is a nothingburger. Zelensky already has his hands full with Russia. There are less painful forms of suicide than picking a war with China at the same time. This reminds me of Zelensky accusing China of supporting Russia with troops and weapons. I can see that he's trying to curry the favor of NATO so that they'd send more weapons to him, but it seems like a really dumb move. First off, nobody actually believes him so he gains nothing, but it ticks off China, so what if China were to actually support Russia?
 

GulfLander

Major
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