This compilation of financial-related insights includes videos from Tech Revolution, Joe Blogs, Heresy Financial, and Steven Van Metre.
Tech Revolution shares news of China’s game changing natural gas breakthrough. Joe Blogs reports Russia’s economy collapsing with a 2.8 trillion Ruble deficit as the cost of war escalates. Heresy Financial shares a report from the Fed saying more banks are at risk of failure. Steven Van Metre talks about shocking news from Fidelity.
Sep 1, 2023
This monumental discovery comes at a time when the world is searching for sustainable and reliable energy sources. As nations strive to reduce their carbon footprint and transition towards cleaner alternatives, this revelation couldn’t have come at a more opportune moment.
The effects of this discovery are far-reaching. From powering homes and industries to fueling transportation, the potential applications of this newfound natural gas are vast. Today, we’re delving into the details – how it was discovered, the technology behind it, and the potential game-changing effects it might have on both China and the global energy landscape. So what is this discovery that we are talking about?
So this is what’s happening. China’s leading oil and gas company, Sinopec, has just hit a significant milestone that’s turning heads. They’ve officially received the green light from the Ministry of Natural Resources for their groundbreaking find. This is all part of their ambitious Project Deep Earth-Sichuan and Chongqing natural gas initiative.
In the first phase of the Bazhong field, Sinopec struck gold. Well, gas. They’ve unveiled a whopping 30.55 billion cubic meters of natural gas reserves. That’s a game-changer, no doubt. The Ministry of Natural Resources has stamped its approval on this discovery, giving it the official nod.
This newfound treasure trove is tucked away in northeast Sichuan, China. And it’s not just any old discovery, Sinopec is calling it a significant breakthrough in their grand plan, Project Deep Earth-Sichuan, and Chongqing natural gas base.
But here’s the kicker, this find goes beyond the numbers. It’s shedding light on the potential of tight sandstone in the region. Yep, this could be the key to unlocking even more energy goodness.
Guess what? The Bazhong gas field isn’t their first rodeo. It’s Sinopec’s third time striking gold, gas-wise, in the Xujiahe Formation tight sandstone gas field in the area. It’s like they’ve got a Midas touch when it comes to unlocking the potential of this underground treasure trove.
With each successive endeavor, Sinopec’s expertise and determination have once again illuminated the Xujiahe formation’s tight sandstone gas field with resounding success.
This isn’t just a happy coincidence; it’s a testament to their unwavering commitment to exploration, innovation, and harnessing the hidden energy resources that lie beneath the Earth’s surface.
So, it’s not just about a single achievement. It’s about a journey, one that has seen Sinopec consistently push boundaries, conquer challenges, and extract richness from the depths below. As they celebrate this third milestone, we’re also reminded of the incredible strides that human ingenuity can take when aligned with the mysteries of the Earth.
While their certification is more than good news, the figures that they presented are way better. They’ve just dished out some impressive numbers, all certified by the Ministry of Natural Resources.
Remember their ambitious Project Deep Earth-Sichuan and Chongqing natural gas plan? Well, it’s hitting milestones that are hard to ignore. Here’s the scoop, In the Bazhong field, nestled within the vast Sichuan Basin, Sinopec has hit a jackpot of gas deposits.
Picture an area spanning 810,000 square meters, with a thickness of 29 meters. Now that’s what I call a find. The company even described these reserves as extra-deep, buried some 4,550 to 5,225 meters beneath the surface.
Yang Gongtian, the deputy general manager of Sinopec Southwest Oil and Gas Company, had some interesting insights. He shared that Sinopec Southwest is churning out over 25 million cubic meters of natural gas daily.
And guess what? About 70 percent of that comes from deep shale and ultra-deep natural gas sources. That’s a big boost for the ultra-deep natural gas scene in China.
But that’s not all. The Sichuan Basin is flexing its muscles too. It’s a natural gas powerhouse, taking the lead in terms of resources and production across China. And let me throw in some fun facts: In the last ten years, this basin has witnessed some incredible milestones.
The Yuanba gas field, which towers above 7,000 meters, and the first deep shale gas field with reserves exceeding 100 billion cubic meters. Both are products of this region’s ingenuity. So far, Sinopec Southwest is racking up impressive numbers. Their natural gas reserves have zoomed past the 1 trillion cubic meter mark, with a whopping 100 billion cubic meters produced.
Sep 2, 2023
RUSSIA’s Economy has COLLAPSED to its Worst Deficit in Russian History after the first seven months of 2023 as Oil & Gas Revenues Crashed & Costs Increased Dramatically. In addition the value of the RUBLE is crashing again despite the recent 350bp increase in Interest Rates. The European Union Ban & Price Cap on CRUDE OIL came into effect on 5th December and the additional Ban & Cap on REFINED Products started on 5th February. In this video I provide more details of the figures and discuss the problems that Russia is now facing.
Sep 2, 2023
Fed Report Warns More Banks at Risk of Failure
Steven Van Metre
Sep 2, 2023
What Fidelity Just Said is Shocking
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