Fully loaded oil tankers are anchored in ports worldwide, while solar panels are getting cheaper by the day as global competition heats up.
The global energy reset has begun.

Just three years ago, US warehouses were flooded with Chinese made solar panels due to China’s goals to reduce its worsening air pollution and to free its economy from oil dependency.
In order to lure Western solar panel manufacturers, China offered incentives in terms of subsidies and other perks. These measures turned quickly into an oversupply of solar panels flooding the US, raising US solar panel manufacturers’ concern which prompted the Obama government to raise tariffs accordingly.

Between 2011 and 2013, warehouses across Southern California were stuffed with millions upon millions of Chinese-made solar panels. How the panels got here, and what ultimately became of them, is one of the oddities of global trade.

“Chinese solar panels dominated tons of warehouses in Carson,” says Rafael Galante, principal consultant of L.A. Source Consulting, who witnessed the influx of solar modules from China in early 2012. “They were everywhere.”

The story began a few years earlier, with the Chinese government’s growing panic about one of its biggest national threats: lung-clogging air pollution. Chinese officials decided in 2010 that solar power would be the centerpiece of a five-year plan — one of Beijing’s massive centralized planning initiatives. The government worked with the China Development Bank to flood the country’s solar manufacturers with $42 billion in subsidized loans between 2010 and 2012.

The cheap money turned the world’s biggest carbon emitter into the world’s largest solar panel maker nearly overnight. In 2010, China produced enough panels to generate 10,922 megawatts of electricity (about five times the capacity of the Hoover Dam), equivalent to 45 percent of new solar panel production worldwide. By 2012, that had risen to 20,903 megawatts, or 56 percent of total global production. As Chinese factories churned out panels, prices around the world fell. Between 2009 and 2011, the price of solar panels dropped from $2.79 to $1.59 per watt, pushing many American solar companies into bankruptcy.

… The rise in solar panel prices after tariffs meant that companies that had stockpiled panels couldn’t always offload them. And it contributed to many of the already-purchased solar panels languishing in storage. Building a solar farm generally takes three to four years, and plenty of hurdles can arise along the way. “Some of the developers might not find the proper land to install panels and some of them might not be approved to connect to the power grid,” Chang says. Many solar farms that had been planned were never built, leaving the unused panels stuck in the warehouses.

The tariffs Chinese manufacturers feared came through in May 2012. The U.S. Commerce Department levied tariffs of more than 31 percent on imports of Chinese solar panels, a significant blow to China’s solar makers.

https://psmag.com/why-millions-of-chinese-made-solar-panels-sat-unused-in-southern-california-warehouses-for-years-77a906065ed6#.xyzo9aeph

Incidentally, Chinese manufactured panels were outdated quickly with newer, more efficient solar technologies, prompting the Chinese marketers to reship them to Africa.

For the first time in three years, First Solar Inc. is making panels for less than China’s biggest producer, justifying more than $3 billion in loan guarantees from the U.S. government.

After investing $775 million in technology, First Solar is producing panels for as little as 40 cents a watt, or about 15 percent less than China’s Trina Solar Ltd. In 2019, First Solar’s module cost could be as low as 25 cents a watt, according to analysts’ models.

First Solar’s investments over the past five years have increased efficiency by almost 50 percent and wrung costs from the manufacturing process. It has two new products coming next year and in 2019, applying lessons learned from the flat-screen television industry: use bigger manufacturing equipment to make larger units at lower cost. Meanwhile, the change indicates the limits of what Chinese companies can do without further investment.

“The Chinese have hit a wall in terms of polysilicon costs and technology,” Jeffrey Osborne, a Cowen & Co. analyst in New York, said in an interview. “There aren’t a lot of levers left for them to pull and their labor costs are rising.”

http://www.bloomberg.com/news/articles/2016-04-14/first-solar-making-panels-more-cheaply-than-china-s-top-supplier

With this development, oil producing countries are in a hurry decoupling their national budgets from oil. Iran, for example, is exploring mineral mining to keep the economy from plunging. Unfortunately, Venezuela is being hit the hardest and is now in the process of collapsing.
Meanwhile, the ongoing shift in energy production has resulted with oil tankers lining up in ports like Singapore.

Prices for oil futures have jumped by almost a quarter since April, lifted by severe supply disruptions caused by triggers such as Canadian wildfires, acts of sabotage in Nigeria, and civil war in Libya.

Yet flying into Singapore, the oil trading hub for the world’s biggest consumer region, Asia, reveals another picture: that a global glut that pulled down prices by over 70 percent between 2014 and early 2016 is nowhere near over, and that financial traders betting on higher crude oil futures may be in for a surprise from the physical market.

“I’ve been coming to Singapore once a year for the last 15 years, and flying in I have never seen the waters so full of idle tankers,” said a senior European oil trader a day after arriving in the city-state.

As Asia’s main physical oil trading hub, the number of parked tankers sitting off Singapore’s coast or in nearby Malaysian waters is seen by many as a gauge of the industry’s health.

Judging by this, oil markets are still sickly: a fleet of 40 supertankers is currently anchored in the region’s coastal waters for use as floating storage facilities.

The tankers are filled with 47.7 million barrels of oil, mostly crude, up 10 percent from the previous week, according to newly collected freight data in Thomson Reuters Eikon.

http://www.reuters.com/article/us-asia-oil-storage-idUSKCN0YA129

Here’s ZeroHedge’s  snapshot of Singapore’s oil tanker “parking lot” a few days ago…

In relation to the global move away from oil, China and the BRICS at large, inaugurated its banks with the approval of loans pertaining precisely to renewable energy, which was highlighted even more with China’s most ambitious energy program to date.

• 1st Loans Approved by BRICS Bank are on Renewable Energy [here];
• India Solves its Drought Problem with Common Sense [here];
• China’s $50 Trillion Global Clean Energy Project Muted by Panama Papers [here];
• BRICS Mega Projects will Reshape Global Economic Map [here]

However, this developing shift from fossil fuel to renewables is being complicated by the still to be neutralized crime syndicate that lives and breathe partly through the bloodsoaked petrodollar.
Hillary Clinton’s palpable participation on the murder of Muammar Gadhafi, and her successful hijacking of the primaries for this year’s US presidential election, are now feeding the Khazarian Mafia with the illusion of hope for their continued exploitation of sovereign resources, as they have yet to relinquish power in Libya.

After a three-week blockade of its eastern port of Hariga over rival government wrangling, Libya has now resumed exports from the port and could soon be ramping up to 300,000 barrels per day, adding another 100,000 bpd into the glut—just when things were balancing out.

Already late on Thursday, Libyan officials were saying that 650,000 barrels were in the loading process, according to Bloomberg—destination, United Kingdom. The tanker is loading crude for Glencore, on orders from the Tripoli-based National Oil Company (NOC).

Reuters is predicting that Libya—currently producing about 200,000 bpd—could quickly ramp up to 300,000 bpd with exports freed up.

http://oilprice.com/Energy/Crude-Oil/Oil-Glut-Set-To-Worsen-As-Libya-Unblocks-300000-Bpd-Of-Production.html

Understandably, radical changes such as these entail risk on the part of the protagonists. But it is comforting how they persevered over the years, since the pivotal year of 2001.
• India Refuses to Join US Naval Patrol vs. China [here];
• Eastern Countries Strive to Achieve Peace Even as Shadow WW3 Continues [here];
• BRICS led Revolution Fortified with Game-Changer MCIS Conference [here];
• China Calls Rothschild’s WW3 Bluff with Gold-Backed Yuan & 12,000 km Range Missile Test [here];
So, while Russia is now exerting greater geopolitical influence in the Middle East through MCIS anti-terror [read: anti-Khazarian Mafia] cooperation with Iran, Egypt, Iraq, ASEAN, and Syria, it is also developing a more proactive stance in Southeast Asia, one of three remaining areas where the US still exert considerable influence, or so they believe, starting with the incoming Duterte Presidency.

Aside from anti-terror security cooperation, the Russian ambassador also pointed out the need for sustainable development cooperation in “practical terms” which if superimposed to Duterte’s frustration with homegrown energy cartel, might precipitate to the switching on of the nuclear power plant which was mothballed by CIA puppet Corazon Cojuangco Aquino, in 1986.
The self-confessed socialist Duterte would certainly assume a more independent and pragmatic geopolitical stance as opposed to the unequivocal Western cavorting of the outgoing BS Aquino administration which led among others to the complete exploitation of our natural gas and mineral resources.
These progressive developments here in Southeast Asia should left the US Khazarians with no other choice but to continue pushing for NATO forces right at Russia’s border, as most Americans are already tired of war, they would not be supporting another one.
We are also not seeing the mouthful Donald Trump to be a wartime president either even if Henry Kissinger is on his side right now. This is the reason why even the Republicans are openly supporting Hillary Clinton by openly not supporting Donald Trump.
Superimpose all of the above to the continued dumping of fiat currency denominated treasury bonds in favor for asset-backed sovereign currencies, the BRICS could not have created a more perfect storm for the Khazarian Mafia.
With no more wars to profit from, fast shrinking buyers for oil, and no more currency to manipulate with, what are the Khazarian Mafia’s options will be?
From the European front, both UK and Germany are aggressively pursuing renewable energy production through the Energy Union as early as last year.

As Europe steps towards Energy Union this week saw evidence that distinct and divergent policy models for how member states should generate and supply electricity are emerging. While in Brussels Vice President Maroš Šefčovič presented the inaugural State of the Energy Union report, simultaneously in London Secretary of State for Energy and Climate Change Amber Rudd was setting out what had been trailed as a “reset” of UK energy policy and in Berlin the energy ministry published its annual monitoring report on the Energiewende (the German energy transition). The Energy Union update contained little that was unexpected, but demonstrated the political momentum that the Energy Union policy now has.

It sees the UK exiting unabated coal-fired power generation, onshore wind and solar are expected to stand on their own feet without subsidy, while the offshore wind industry is on notice that it needs to sharply cut its costs. Shale gas is lauded. Gas and nuclear are seen as UK energy mix mainstays. With the UK’s capacity margin down to a sliver, energy security and attracting new investment features prominently. Decarbonisation and meeting the UK’s carbon budgets are restated as key policy goals, but the ‘Rudd Model’ is clear that the UK’s aim is to be “a compelling example to the rest of the world of how to cut carbon while controlling costs”.

http://www.global-counsel.co.uk/analysis/insight/uk-energy-reset-exporting-%E2%80%98rudd-model%E2%80%99

In Germany alone, a very interesting development is happening when…

On Sunday, May 8, Germany hit a new high in renewable energy generation. Thanks to a sunny and windy day, at one point around 1pm the country’s solar, wind, hydro and biomass plants were supplying about 55 GW of the 63 GW being consumed, or 87%.

Power prices actually went negative for several hours, meaning commercial customers were being paid to consume electricity.

http://qz.com/680661/germany-had-so-much-renewable-energy-on-sunday-that-it-had-to-pay-people-to-use-electricity/

The only caveat to this is the planned fully digitized financial system that would pave the way for Western technocratic dictatorship. But the BRICS Alliance, obviously having the upperhand, are not about to give an inch to the whims of the enemy of humanity, no more.
Surely, this is not yet the world that Nikola Tesla designed in his time, and there certainly are better energy technologies out there, but if we consider China’s $50 trillion global renewable energy grid project, we can at least rest assured knowing that they are already thinking about the global transition away from fossil fuel systems right now.

• India Won’t Suppress Tewari’s Free Energy Generator [here];
• Nanomaterial that Can Produce Energy, Clean Water and Hydrogen [here];
• Russia Develops Hybrid Fusion – Fission Reactor with China [here];
• Fuel from Thin Air [here];
• China’s $50 Trillion Global Clean Energy Project Muted by Panama Papers [here]

Remember, existing industries can only take one radical change at a time. We should keep on pushing the people’s agenda.
As we’ve been saying here in the Philippines for the last six months…
Change is Coming!
https://youtu.be/ANjrWz7SwB0?t=15s