A month ago, the world witnessed something never thought possible – negative oil prices. A perfect storm of events – the Covid-19 lockdowns, the resulting effect on demand, an ongoing oil supply glut, a worrying shortage of storage space and (crucially) the expiry of the NYMEX WTI benchmark contract for May, resulted in US crude oil prices falling as low as -US$37/b. Dragging other North American crude markers like Louisiana Light and Western Canadian Select along with it, the unique situation meant that crude sellers were paying buyers to take the crude off their hands before the May contract expired, or risk being stuck with crude and nowhere to store it. This was seen as an emblem of the dire circumstances the oil industry was in, and although prices did recover to a more normal US$10-15/b level after the benchmark contract switched over to June, there was immense worry that the situation would repeat itself.
Thankfully, it has not.
On May 19, trade in the NYMEX WTI contract for June delivery was retired and ticked over into a new benchmark for July delivery. Instead of a repeat of the meltdown, the WTI contract rose by US$1.53 to reach US$33.49/b, closing the gap with Brent that traded at US$35.75b. In the space of a month, US crude prices essentially swung up by US$70/b. What happened?
The first reason is that the market has learnt its lesson. The meltdown in April came because of an overleveraged market tempted by low crude oil prices in hope of selling those cargoes on later at a profit. That sort of strategic trading works fine in a normal situation, but against an abnormal situation of rapidly-shrinking storage space saw contract holders hold out until the last minute then frantically dumping their contracts to avoid having to take physical delivery. Bruised by this – and probably embarrassed as well – it seems the market has taken precautions to avoid a recurrence. Settling contracts early was one mechanism. Funds and institutions have also reduced their positions, diminishing the amount of contracts that need to be settled. The structural bottleneck that precipitated the crash was largely eliminated.
The second is that the US oil complex has adjusted itself quickly. Some 2 mmb/d of crude production has been (temporarily) idled, reducing supply. The gradual removal of lockdowns in some US states, despite medical advisories, has also recovered some demand. This week, crude draws in Cushing, Oklahoma rose for the second consecutive week, reaching a record figure of 5.6 million barrels. That increase in demand and the parallel easing of constrained storage space meant that last month’s panic was not repeated. The situation is also similar worldwide. With China now almost at full capacity again and lockdowns gradually removed in other parts of the world, the global crude marker Brent also rose to a 2-month high. The new OPEC+ supply deal seems to be working, especially with Saudi Arabia making an additional voluntary cut of 1 mmb/d. The oil world is now moving rapidly towards a new normal.
How long will this last? Assuming that the Covid-19 pandemic is contained by Q3 2020, then oil prices could conceivably return to their previous support level of US$50/b. That is a big assumption, however. The Covid-19 situation is still fragile, with major risks of additional waves. In China and South Korea, where the pandemic had largely been contained, recent detection of isolated new clusters prompted strict localised lockdowns. There is also worry that the US is jumping the gun in easing restrictions. In Russia and Brazil – countries where the advice to enforce strict lockdowns was ignored as early warning signs crept in – the number of cases and deaths is still rising rapidly. Brazil is a particular worry, as President Jair Bolosnaro is a Covid-19 skeptic and is still encouraging normal behaviour in spite of the accelerating health crisis there. On the flip side, crude output may not respond to the increase in demand as easily, as many clusters of Covid-19 outbreaks have been detected in key crude producing facilities worldwide. Despite this, some US shale producers have already restarted their rigs, spurred on by a need to service their high levels of debt. US pipeline giant Energy Transfer LP has already reported that many drillers in the Permian have resumed production, citing prices in the high-US$20/b level as sufficient to cover its costs.
The recovery is ongoing. But what is likely to happen is an erratic recovery, with intermittent bouts of mini-booms and mini-busts. Consultancy IHS Markit Energy Advisory envisions a choppy recovery with ‘stop-and-go rallies’ over 2020 – particularly in the winter flu season – heading towards a normalisation only in 2021. It predicts that the market will only recover to pre-Covid 19 levels in the second half of 2021, and a smooth path towards that only after a vaccine is developed and made available, which will be late 2020 at the earliest. The oil market has moved from certain doom to cautious optimism in the space of a month. But it will take far longer for the entire industry to regain its verve without any caveats.
In this time of COVID-19, we have had to relook at the way we approach workplace learning. We understand that businesses can’t afford to push the pause button on capability building, as employee safety comes in first and mistakes can be very costly. That’s why we have put together a series of Virtual Instructor Led Training or VILT to ensure that there is no disruption to your workplace learning and progression.
Find courses available for Virtual Instructor Led Training through latest video conferencing technology.
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Today we will certainly discuss industrial timber pellet mill Most of us know that contemporary society promotes the recycling of resources, especially waste wood, sawdust, straw, and so on. The timber that might not be utilized before can be refined into sawdust after squashing and also processing., sawdust as well as other raw materials, advertise the recycling of waste wood, as well as facilitate our lives.
Related post: wood pellet mill for sale
Sawdust source has the features of high calorific value as well as reduced emission of unsafe gas. It can be used as a high-quality biomass resources for power usage, which can lower the intake of non-renewable energy such as coal, oil as well as natural gas. Currently, the energy use techniques of sawdust in my country generally consist of: straight combustion heating, granulation, gasification, liquefaction as well as carbonization.
Around us, waste wood, branches, waste wood scraps, bark, branches, waste boards, veneers, furnishings factory scraps, assorted wood, etc can be grated into sawdust, and also biomass pellet fuel is generated through the industrial timber pellet mill The finished product has high burning efficiency and little harm to the atmosphere, which can be claimed to kill two birds with one rock.
Related post: biomass pellet mill for sale
1. Making use of industrial timber pellet mill.
The industrial wood pellet mill is a good gadget that can make sawdust energy. There are numerous house suppliers, which produce a large quantity of sawdust each year. Nevertheless, due to the influence of standard manufacturing techniques and also living routines, the use price of sawdust is extremely low, and a substantial amount of sawdust sources are disposed of or blazed, which not just creates waste of sources, yet additionally pollutes the air. The use of industrial timber pellet mills successfully recycles these resources.
Over the years, Richi Machinery has actually focused on the research and development, design and also production of commercial timber pellet mills, wood cutting pellet machines, sawdust pellet makers, biomass pellet machines, wood pulverizers, timber pellet assembly line, timber processing tools and also various other items. All items have passed ISO9001 :2008 The international high quality monitoring system qualification as well as EU CE qualification have gotten to the worldwide sophisticated degree, as well as the items swiftly cover the domestic market and are exported to countries all over the world.
Related post: fuel pellet plant
Considering that its facility, Richi Machinery has won the honorary titles of "Advanced High Quality Device" and " Top Quality Trustworthy Unit" each year, and also has been identified as a national AAA-level enterprise for high quality, track record and service. The firm has actually always stuck to the principle of " top quality first, online reputation initially", according to the tenet of "survive by top quality, and also look for take advantage of development", exerting its own benefits as well as gradually increasing its scale. In the future, the industrialized people will make persistent efforts to establish and develop products that are well gotten by residential and also foreign customers, as well as stroll in the forefront of the industry.
2. The development possibility of industrial wood pellet mill.
Over the last few years, many nations have better enhanced the development of brand-new power as well as the management of environmental issues. Biomass commercial wood pellet mills are not only environmentally friendly and also resource-saving, but also bring us economic value. They have been affirmed by several individuals as well as buddies, and the market sales are likewise high. For that reason, the development prospect of commercial wood pellet mill can be claimed to be extremely excellent.
Related post: biomass wood pellet plant in Indonesia
In order to meet the demands of different life as well as production, industrial wood pellet mills have actually likewise been innovated and also upgraded. These cutting-edge technical products are made use of more and more widely in our lives. It brings us a very safe material for individuals's livelihood heating and also living power. This gas has a high usage price and is simple to shop. Especially, it can be made use of as the primary gas type for thermal power generation, which greatly replaces the existing ones. Different non-renewable power sources such as raw coal and firewood, gas dissolved gas, etc can successfully save the input of non-renewable fuel.
This strong gas that has actually been crushed as well as pressed by an industrial wood pellet mill has outstanding burning performance. Its thickness is larger than that of common fuels, and at the same time, the launch of various unsafe gases is reduced. It is a safe, green as well as environmentally friendly gas kind.
When individuals have a complete understanding of the strong gas of "biomass pellet fuel", the marketplace demand for industrial wood pellet mills as well as various other mechanical devices is also boosting. The advent of industrial timber pellet mill has actually developed remarkable economic value and also social worth.
Now, countries around the world pay more and more focus to the security of the environment and the application of numerous power sources. The innovative study of industrial wood pellet mill has brought us the efficient use of renewable energy to a huge extent, enabling us to obtain convenient, energy-saving, pollution-free eco-friendly power, and likewise bring us excellent resource maintenance. Obviously, when we use the biomass timber pellet mill maker, we should follow the operating specs and also its collection of needs for material processing and also manufacturing, so as to increase its result as high as feasible as well as prolong its service life.
It is no secret that the COVID-19 epidemic has forced us all to make significant changes in our lives. Remote work has been an option for businesses; K-12 schools have adopted distance learning as a necessity; many college students, who were previously enrolled in on-campus courses, now have to learn online.
While online learning carries many positive benefits that make it the preferred choice for millions of students, it doesn't come without its challenges--especially for students who are more familiar with in-person courses.
Here are seven tips from Jonathan Small (associate vice president for online learning at Regis College), that will help you to adapt your study habits to fully online learning.Tips for Online Classes1. Take the time to plan ahead and understand when your assignment is due.
Online students interact with the subject matter and complete assignments via learning management software (LMS). Regis offers online classes through Moodle. Other popular tools include Canvas and Blackboard.
It doesn't matter what LMS you use, it is important that you take the time to familiarize yourself with the interface as well as your assignments. Take a look at the due dates for your assignments so you can create a realistic plan to complete them.
Small says that online classes are often structured in modular formats, which is different from face-to-face classes. You don't always have the physical reminder that your work is due in class. Online classes can be very busy, so students must organize their time.2. Make sure you have enough time to study.
Many students at Regis and other universities pursue their education while also fulfilling other obligations. You have to balance work, childcare, family obligations, and internships.
Small says, "Chunking tasks is a great way for students to feel accomplished." You feel like you are making progress. You can also schedule a time to study, which will help you establish and maintain a routine.3. Regular communication is essential for group projects.
Many college courses include group projects and assignments that you must compete with others in the class. This is true for both online and in-person courses. Small says that while in-person courses allow for group projects and bring people together face to face, online students must be careful about communicating effectively.
Groups must prioritize communication, regardless of whether it's via Zoom, email or phone call, instant messaging, shared documents, or any other form altogether.
Small says, "Find a system which works for everyone in your group and then follow up often."4. Split up work groups early.
It is important that groups are able to properly divide tasks so that everyone has a fair share and everyone knows exactly what they have to do.
Small advises that group projects should be planned far in advance so that everyone can share the work and coordinate their efforts. This way, even if something isn’t due for a few more weeks, everyone has the opportunity to use their time and work on their tasks as they can.5. Keep in touch with your professor frequently.
As important as it is to communicate with your classmates and group members, it's equally important that you communicate with your instructor or professor. Whether you need help with an assignment, or simply want to share your struggles with them, make the effort to contact your professor.
Small says that talking to your instructor is key to success. Small says that you don't have to struggle with your questions and concerns alone. The professor can help. Talking to your instructor for five minutes can help you save days of stress. You will feel better, get more clarity, and be more successful.
You don't have to communicate only when things are going wrong. You can build a rapport with your instructor by letting them know when things are going well.6. Participate as often as you can
Participation is key to your success, no matter if you are taking classes online or in person. Active participation not only shows your professor you are engaged but also shows you are learning and willing to do the work required to succeed. Participation transforms education from a passive process to one that is active.
Small says that the more you take part as a student the better your experience will be.7. Flexibility is key.
Flexibility is key to online learning, both for you and your fellow students--and even your professors.
Small says, "Remember that your instructors had only to switch to remote teaching within a weekend. That's the same time it took to transition to online learning."
"This happened by accident. It's possible to restore the campus community by simply being compassionate, active in your course material, and talking to your instructors. This will make the transition smoother.Put in the Work
Online learning might not be your first choice. However, the tips and advice above will help you make the most of your online courses. Clear and open communication with your classmates and instructors, as well as staying focused on the course material, will be key to your success in this difficult time.
Related article from studentjob.co.uk : http://www.studentjob.co.uk/blog/5757-best-online-exam-help-top-five-websites-you-can-trust
One of the most popular literary devices or genres is Satire. This genre is especially designed to criticize someone or group of people for their vices, wrongdoings, or shortcomings.
Usually, humor is used to highlight important political and cultural issues in a society. A satire article is a type essay that uses humor, sarcasm, and irony to ridicule a person, situation, or ideology. It pokes fun in an elite and sarcastic fashion at certain people or situations.
How to Write Satire Essays: Writing Tips
How do you write a satire article? It doesn't have to be difficult, even though it seems daunting. However, once you use the following tips, it can be an easy task to write a satire article.
Choose a relevant and original topic
This is why you will need to create a satire essay. Your first step is to pick a satirical essay topic. You may be assigned a topic by your professor or teacher in some instances, but you would need to create your topic.
Decide the topic of your essay. Depending on what you are interested in, you can choose to concentrate on either a political or societal situation.
However, it's a good idea to choose a topic you are already familiar with. This will make it easier to locate facts and evidence to support the views you hold.
Consider your audience
Your essay is the center of attention. You must consider your audience at every stage of the writing process. Your essay should be addressed to college professors or high school students.
Are professionals reading it or are you just a student? It is important to consider your audience and determine the right tone for your essay.
A casual tone is acceptable if your target audience is mostly friends and students. It's best to use a formal tone if your target audience is professionals.
What makes a humorous essay so engaging? It is the topic, or the writer's writing style that makes satire essays so interesting. Humor is the key ingredient to any satire essay. You want your audience to laugh at the absurdity or inanity of a person or situation. Irony, sarcasm or hyperbole are all great ways to accomplish this end.
These devices can be very effective if used in a thoughtful manner.
Be clear about the facts
Because satirical essays often use exaggeration and humor, it is crucial to write an essay that is straightforward. An essay that contains false or misleading information will not be accepted by the court of public opinion.
Therefore, facts should only be stated that are supported by strong evidence. If you want to give credibility, be sure to cite the source of your information after citing figures, theories, opinions, etc.
This would ensure your audience that your essay was credible. Avoid including arguments that you are unable to prove or find evidence.
Use the ELP Format
ELP format is a great tool to ensure that your satire essay will be professional and high-quality. ELP is an acronym that stands for ethos, logos, and pathos.
These three elements make up a large part of an essay and can either help or hinder your work. These elements are important and can be used in your essay.
Ethos informs readers about the topic at hand and their preexisting beliefs. To provide a foundation for readers, Ethos should be used as a tool in the introduction.
Logos give credibility to your work by providing facts and figures for the audience.
As the name implies, pathos will elicit the appropriate emotions and feelings from your audience. You can use this tool to invoke sadness, sympathy, anger or any other emotion.
It is important to avoid making offensive statements in satire essays, even though they are often filled with irony or sarcasm.
Your audience will likely include people from all walks of life. Therefore, it is important not to make comments that could be considered discriminatory or offensive for a particular section.
The art of discerning the right line between humor and offensiveness is delicate and requires practice. You can ask teachers or colleagues to give you second opinions so that your essay doesn't offend.