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US Oil and Natural Gas Production both Drop

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Language: en

00:00:00.060
falling falling it's all falling US oil
00:00:03.740 00:00:03.750 production US natural gas production
00:00:05.660 00:00:05.670 world gold production London Bridge but
00:00:09.530 00:00:09.540 of course everyone already knew that one
00:00:10.940 00:00:10.950 or rather everything is falling though
00:00:13.789 00:00:13.799 not buy all that much US oil production
00:00:16.670 00:00:16.680 dropped a bit from 13 million barrels
00:00:19.460 00:00:19.470 per day that has been holding for a few
00:00:21.109 00:00:21.119 weeks back under down to twelve point
00:00:23.359 00:00:23.369 nine US natural gas production had
00:00:26.179 00:00:26.189 gotten up towards a hundred and nine
00:00:28.099 00:00:28.109 billion cubic feet per day but over the
00:00:30.019 00:00:30.029 past couple or a few weeks it's been
00:00:31.669 00:00:31.679 dropping back down now as of this week
00:00:33.889 00:00:33.899 it's back under 107 billion cubic feet
00:00:36.380 00:00:36.390 per day at 106 point seven and global
00:00:40.040 00:00:40.050 gold production total output from gold
00:00:43.490 00:00:43.500 mines worldwide has decreased for the
00:00:47.600 00:00:47.610 first time since 2008 total gold mined
00:00:51.889 00:00:51.899 in 2019 came in less than total gold
00:00:56.209 00:00:56.219 mined in 2018 total gold mined in 2018
00:01:00.560 00:01:00.570 worldwide was just over a thirty-five
00:01:03.560 00:01:03.570 hundred and nine tons and total gold
00:01:08.210 00:01:08.220 mined in 2019 was only thirty four
00:01:11.179 00:01:11.189 hundred and sixty three point seven tons
00:01:13.429 00:01:13.439 up until now gold had been constantly
00:01:16.789 00:01:16.799 increasing in production every single
00:01:19.399 00:01:19.409 year year after year since 2009 is this
00:01:23.359 00:01:23.369 potentially Peak Gold maybe but we won't
00:01:28.219 00:01:28.229 know we have to wait a few years we have
00:01:30.920 00:01:30.930 to wait and see next year obviously once
00:01:33.350 00:01:33.360 this year is complete and the data for
00:01:36.020 00:01:36.030 this year would then come out next year
00:01:38.030 00:01:38.040 we have to see if it continues
00:01:40.340 00:01:40.350 decreasing or resumed climbing back up
00:01:43.609 00:01:43.619 and if it indeed continues decreasing
00:01:46.249 00:01:46.259 then we'd have to wait you know for
00:01:47.960 00:01:47.970 another year or two to see if that
00:01:49.550 00:01:49.560 pattern continues however if it
00:01:51.590 00:01:51.600 continues then yes this would be peak
00:01:54.560 00:01:54.570 gold the world already hit peak silver
00:01:57.410 00:01:57.420 in 2015 unless of course world silver
00:02:00.620 00:02:00.630 production suddenly launches upwards and
00:02:03.440 00:02:03.450 overtakes the 2015 heights out of
00:02:06.170 00:02:06.180 nowhere but that hasn't happened yet
00:02:07.940 00:02:07.950 since 2015 world silver production has
00:02:11.990 00:02:12.000 constantly been decreasing as I've met
00:02:13.760 00:02:13.770 and in the 2019 numbers were right
00:02:17.870 00:02:17.880 around the same area as the 2018 numbers
00:02:20.840 00:02:20.850 so a stall in the declined slope for
00:02:23.570 00:02:23.580 silver for the moment but obviously
00:02:25.790 00:02:25.800 we'll see where everything goes from
00:02:27.110 00:02:27.120 here one way or another welcome back
00:02:29.300 00:02:29.310 everybody to another weekly energy and
00:02:31.190 00:02:31.200 resource update episode going over
00:02:33.590 00:02:33.600 everything of significance happenings
00:02:35.810 00:02:35.820 events discoveries data releases
00:02:37.970 00:02:37.980 pertaining to oil gas minerals mining
00:02:41.180 00:02:41.190 energy and resources of all kinds these
00:02:43.700 00:02:43.710 things that both run and literally make
00:02:46.340 00:02:46.350 up the civilization around you so if
00:02:49.160 00:02:49.170 you're remotely interested in such
00:02:50.480 00:02:50.490 things then please subscribe and stay
00:02:52.490 00:02:52.500 around here because that's this
00:02:54.080 00:02:54.090 channel's main focus and before we start
00:02:56.480 00:02:56.490 with any data I apologize from my voice
00:02:59.270 00:02:59.280 it sounds a bit scratchy and worn out
00:03:01.400 00:03:01.410 but I'm recording this after just
00:03:03.200 00:03:03.210 finishing recording a different video
00:03:05.030 00:03:05.040 for my aviation channel which if you
00:03:08.060 00:03:08.070 want to help me out you should
00:03:09.230 00:03:09.240 definitely go subscribe to as if I could
00:03:11.420 00:03:11.430 get a second channel monetize that would
00:03:12.920 00:03:12.930 obviously be tremendously helpful
00:03:14.360 00:03:14.370 currently as of the last I looked it was
00:03:16.400 00:03:16.410 in 95 subs well over here obviously
00:03:19.190 00:03:19.200 we're almost at 4,000 but as always if
00:03:21.320 00:03:21.330 you'd rather help me directly and my
00:03:22.910 00:03:22.920 paypal is in the description below you
00:03:24.860 00:03:24.870 have to get started with the data as I
00:03:27.080 00:03:27.090 mentioned before US oil production had
00:03:29.540 00:03:29.550 been half 13 million barrels per day for
00:03:31.550 00:03:31.560 several weeks it has now fallen back
00:03:33.860 00:03:33.870 down to twelve point nine million
00:03:35.900 00:03:35.910 barrels per day I do still expect it to
00:03:38.060 00:03:38.070 get up to thirteen point six by the end
00:03:39.800 00:03:39.810 of the year and then after that point to
00:03:43.040 00:03:43.050 not really go all that much higher and
00:03:46.460 00:03:46.470 most of that contribution obviously
00:03:48.110 00:03:48.120 coming from the Permian Shale US oil
00:03:50.480 00:03:50.490 consumption jumped up from last week
00:03:52.370 00:03:52.380 coming in at twenty point eight million
00:03:54.470 00:03:54.480 barrels per day individual consumption
00:03:56.510 00:03:56.520 numbers within that being gasoline
00:03:58.250 00:03:58.260 consumption eight point nine three
00:04:00.140 00:04:00.150 million barrels per day diesel fuel
00:04:03.170 00:04:03.180 consumption four point two one jet fuel
00:04:06.199 00:04:06.209 consumption one point six six and
00:04:08.240 00:04:08.250 propane consumption one point two four
00:04:11.000 00:04:11.010 million barrels per day equivalent
00:04:12.370 00:04:12.380 global jet fuel consumption including
00:04:15.080 00:04:15.090 u.s. jet fuel consumption remain the
00:04:18.289 00:04:18.299 same as last week 5.2 million barrels
00:04:20.720 00:04:20.730 per day US crude oil inventories
00:04:23.140 00:04:23.150 increased by three point four million
00:04:25.580 00:04:25.590 barrels and
00:04:27.110 00:04:27.120 oil prices fluctuated over the course of
00:04:29.570 00:04:29.580 the week holding between 49 and 52
00:04:32.689 00:04:32.699 dollars per barrel u.s. natural gas
00:04:35.480 00:04:35.490 production has mentioned dropped down to
00:04:38.210 00:04:38.220 one hundred and six point seven in terms
00:04:40.879 00:04:40.889 of billion cubic feet per day u.s.
00:04:43.370 00:04:43.380 natural gas demand came in at one
00:04:45.800 00:04:45.810 hundred and fourteen point six within
00:04:48.140 00:04:48.150 that specifically heating demand forty
00:04:50.570 00:04:50.580 point for consumption by natural
00:04:53.360 00:04:53.370 gas-fired power plants twenty seven
00:04:54.950 00:04:54.960 point nine US natural gas exports on LNG
00:04:58.490 00:04:58.500 tankers still going up nine point three
00:05:01.870 00:05:01.880 and consumption by the pipeline's for
00:05:04.490 00:05:04.500 their own pumping system fuel seven
00:05:06.350 00:05:06.360 point three US natural gas storage
00:05:08.390 00:05:08.400 inventories dropped down to two point
00:05:11.029 00:05:11.039 six one trillion cubic feet in storage
00:05:12.830 00:05:12.840 in comparison to normally at this time
00:05:15.439 00:05:15.449 of the year they would be down to two
00:05:17.210 00:05:17.220 point four one and last year they were
00:05:19.909 00:05:19.919 already down to one point nine nine
00:05:21.290 00:05:21.300 natural gas prices continued fluctuating
00:05:24.020 00:05:24.030 between a dollar and eighty cents and a
00:05:26.090 00:05:26.100 dollar and ninety cents and Canadian
00:05:28.250 00:05:28.260 storage inventories haven't updated yet
00:05:30.490 00:05:30.500 however UK natural gas storage
00:05:33.080 00:05:33.090 inventories continue dropping as heating
00:05:36.080 00:05:36.090 use continues through the winter
00:05:37.339 00:05:37.349 dropping several billion cubic feet more
00:05:39.680 00:05:39.690 now down to only just above twenty three
00:05:42.260 00:05:42.270 billion cubic feet in storage so UK
00:05:44.779 00:05:44.789 start being careful start watching it
00:05:46.850 00:05:46.860 over there no real significant oil
00:05:49.219 00:05:49.229 discovery is to report this time so for
00:05:51.469 00:05:51.479 the moment oil discoveries so far this
00:05:53.330 00:05:53.340 year still stand at around two and a
00:05:56.600 00:05:56.610 quarter billion barrels contrasted still
00:05:59.390 00:05:59.400 against the thirty seven plus billion
00:06:01.909 00:06:01.919 barrels that were consuming every year
00:06:03.860 00:06:03.870 at this point over in metals global gold
00:06:06.770 00:06:06.780 inventories increased a little bit from
00:06:08.839 00:06:08.849 eight point seven up to eight point
00:06:10.670 00:06:10.680 seven one million ounces and storage
00:06:12.500 00:06:12.510 gold prices coming in in the fifteen
00:06:14.990 00:06:15.000 hundred and seventy s and dollars per
00:06:16.640 00:06:16.650 ounce silver inventory is dropping down
00:06:19.279 00:06:19.289 a little bit from 321 down to three
00:06:22.189 00:06:22.199 hundred and twenty million ounces and
00:06:23.600 00:06:23.610 storage and silver prices gradually
00:06:26.930 00:06:26.940 dropping down under $18 per ounce and
00:06:30.260 00:06:30.270 platinum group metals only being in
00:06:32.500 00:06:32.510 thousands of ounces not millions
00:06:34.730 00:06:34.740 platinum inventory is dropping from 159
00:06:37.399 00:06:37.409 down to 105
00:06:38.439 00:06:38.449 7,000 ounces in storage platinum prices
00:06:41.890 00:06:41.900 wobbling around nine hundred and seventy
00:06:43.989 00:06:43.999 dollars per ounce
00:06:44.969 00:06:44.979 palladium inventories are actually
00:06:47.140 00:06:47.150 updating more frequently now it seems
00:06:49.079 00:06:49.089 after dropping from only fifty two
00:06:52.059 00:06:52.069 thousand ounces and storage down to only
00:06:54.369 00:06:54.379 thirty two palladium inventories
00:06:56.290 00:06:56.300 continue dropping over the course of
00:06:57.909 00:06:57.919 this week from thirty two thousand down
00:06:59.860 00:06:59.870 to only twenty nine thousand ounces in
00:07:01.719 00:07:01.729 storage with palladium prices not
00:07:04.570 00:07:04.580 climbing up in response at least not by
00:07:06.549 00:07:06.559 all that much they had fallen down a bit
00:07:08.709 00:07:08.719 after reaching twenty five hundred but
00:07:11.379 00:07:11.389 for the moment they're still sticking
00:07:12.850 00:07:12.860 around twenty three hundred dollars per
00:07:14.499 00:07:14.509 ounce and rhodium still rising now at
00:07:20.200 00:07:20.210 ten thousand seven hundred and seventy
00:07:23.619 00:07:23.629 five dollars per ounce will it break
00:07:26.409 00:07:26.419 eleven will it break twelve who knows
00:07:28.959 00:07:28.969 who's to say maybe it will even
00:07:31.540 00:07:31.550 potentially reach one of the minimal
00:07:33.279 00:07:33.289 prices required for asteroid mining
00:07:36.179 00:07:36.189 which I just did a short podcast video
00:07:38.950 00:07:38.960 on link in the corner and global gold
00:07:41.980 00:07:41.990 production from gold mines as mentioned
00:07:44.379 00:07:44.389 in the opener decreased from total
00:07:47.230 00:07:47.240 twenty eighteen numbers being 3509 tons
00:07:49.570 00:07:49.580 to total twenty nineteen numbers only
00:07:52.420 00:07:52.430 being thirty four hundred and sixty
00:07:54.129 00:07:54.139 three point seven tons in base metals
00:07:57.249 00:07:57.259 aluminum inventories are at one point
00:07:59.920 00:07:59.930 two six million tonnes in storage
00:08:01.829 00:08:01.839 aluminum prices taking a drop down to
00:08:05.439 00:08:05.449 around seventeen hundred and twenty
00:08:06.639 00:08:06.649 dollars per tonne nickel inventory is
00:08:08.860 00:08:08.870 not really moving staying right around
00:08:11.050 00:08:11.060 two hundred thousand tons in storage
00:08:12.879 00:08:12.889 nickel prices climbing up but then
00:08:15.429 00:08:15.439 dropping back down under $13,000 per
00:08:17.980 00:08:17.990 tonne wide inventories staying at sixty
00:08:22.480 00:08:22.490 seven thousand tons in storage again let
00:08:25.570 00:08:25.580 prices taking a tumble down to around
00:08:27.489 00:08:27.499 eighteen hundred and ten dollars per ton
00:08:29.529 00:08:29.539 and zinc in inventories went under fifty
00:08:33.279 00:08:33.289 thousand tons in storage down towards
00:08:35.559 00:08:35.569 forty nine thousand however as the week
00:08:37.719 00:08:37.729 ended they came climbing back up and
00:08:39.699 00:08:39.709 went back up to fifty three thousand
00:08:41.889 00:08:41.899 tons in storage and zinc prices fell
00:08:44.949 00:08:44.959 within the 20 150 and twenty one hundred
00:08:47.679 00:08:47.689 and sixty dollars per ton range some
00:08:50.500 00:08:50.510 other miscellaneous metals
00:08:52.380 00:08:52.390 manganese continues its price recovery
00:08:54.970 00:08:54.980 taking a bigger jump this week up from
00:08:58.830 00:08:58.840 1592 $1,750 per ton for anyone who
00:09:03.760 00:09:03.770 doesn't know manganese is one of the
00:09:05.890 00:09:05.900 critical basic ingredients of steel the
00:09:08.680 00:09:08.690 actual total mixture of different metals
00:09:11.050 00:09:11.060 and what kinds will depend on the
00:09:12.880 00:09:12.890 different type of steel you're trying to
00:09:14.500 00:09:14.510 make but in its most basic form steel is
00:09:18.130 00:09:18.140 usually between 96 and 98 percent iron
00:09:20.740 00:09:20.750 and then 1 percent carbon 1 percent
00:09:23.350 00:09:23.360 manganese lithium has come tumbling down
00:09:26.680 00:09:26.690 as a result of anticipation that supply
00:09:30.100 00:09:30.110 is outpacing demand especially since
00:09:32.590 00:09:32.600 electric vehicle sales have stalled and
00:09:34.810 00:09:34.820 actually decreased a little bit in total
00:09:36.730 00:09:36.740 2019 numbers compared to the 2018
00:09:38.680 00:09:38.690 numbers so while they had been up and
00:09:41.290 00:09:41.300 over $10,000 per ton lithium prices have
00:09:44.080 00:09:44.090 come falling back down towards $7,000
00:09:46.330 00:09:46.340 per tonne and that's just about it for
00:09:49.480 00:09:49.490 this week
00:09:50.350 00:09:50.360 sorry it wasn't too exciting there
00:09:51.850 00:09:51.860 wasn't any big huge pile of stuff so
00:09:53.890 00:09:53.900 thanks everybody for watching or
00:09:55.660 00:09:55.670 listening in please like the video if
00:09:57.640 00:09:57.650 you enjoyed like always subscribe and
00:09:59.620 00:09:59.630 hit the bell if you haven't already
00:10:00.480 00:10:00.490 subscribed my aviation channel give
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00:10:04.300 00:10:04.310 link everything's in the description
00:10:05.890 00:10:05.900 down below no matter what may god bless
00:10:07.660 00:10:07.670 the lives of all of you and I will see
00:10:10.000 00:10:10.010 you all around next time

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