Genoil Inc GNOLF

From Seatrade Maritime News 01/06/2020:

[UpPeriscope]

"Global oil companies have started to upgrade oil processing units to increase compliant fuel production, but it is estimated that the shipping industry consumes 4m barrels of bunker fuels per day, while global VLSF output can merely cover 60% of market needs. With supply falling far short, the price spread is expected to soar between 0.5 and 3.5% sulphur fuels, thus any future freight rate increase should never be solely blamed on carriers since they are not the ones producing and distributing the fuel."

"There is no once-and-for-all solution to green shipping requirements as increasing focus mounts on environmental protection and human health. One seems fit today may not seem so tomorrow.

Scrubbers are a good example in this case with its popularity on the rise as carriers vigorously pursue scrubber installation. But there is no guarantee that scrubber will not be targeted next by IMO in the foreseeable future. Ten environmental groups this year sent a letter to IMO to call for reevaluation of scrubbers as alternative compliance tools for 2020 fuel standards, citing evidence in US federal case against Carnival Corporation to prove its incompetence."

Note that IMO finalized its decision to lower the sulphur cap in 2016, the year Davey confidently and prematurely (as always) pronounced it to be the "best year in the history of Genoil" and extended his grandiose BS plans to include the move to Curacao in November 2016. We all now know where any and all this went-the same way  as Vietnam Vung Ro, Mexico Pemex, KSA Aramco, China Hebei Zhnongjie, Alberta Oil Sands...