REACH 381 - Are you concerned about the global energy crunch, and it's impact on Singaporeans' electricity prices?
(SK)
03 Aug 2022 (10am - 7pm)
REACH
[9:46 am, 03/08/2022] +REACH: Dear Contributors,
Welcome back! ๐
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Megan ๐
[10:07 am, 03/08/2022] +REACH: ๐ขTopic ๐ข
Measures taken by the authorities so far have helped to ensure uninterrupted energy supply and stabilised wholesale electricity prices here, said Second Minister for Trade and Industry Tan See Leng in Parliament on Tuesday (Aug 2).
๐ฌ Are you concerned about the global energy crunch, and it's impact on Singaporeans' electricity prices?
The world has been facing an energy crunch since last September, and global gas prices would continue to increase due to the conflict in Ukraine and seasonal increase in energy demand from countries for the upcoming winter. As Singapore relies on imported natural gas to generate around 95% of its electricity, higher fuel prices globally will result in higher domestic electricity prices.
The Government will also continue to help consumers cope with higher electricity prices, especially the more vulnerable groups through schemes such as GST Voucher (GSTV) U-Save vouchers for eligible households. All Singaporean households will also receive an additional S$100 of household utilities credit by September as part of the S$1.5 billion support package announced last month.
The Government has been actively looking at ways to diversify the country’s electricity sources and preserve energy security. Apart from electricity imports, the country will also continue to actively preserve some of its existing energy suppliers, while exploring other energy sources such as solar energy and low-carbon alternatives like hydrogen.
๐๐ผ Earlier measures have ensured energy supply and stabilised wholesale prices https://www.channelnewsasia.com/singapore/singapore-electricity-prices-energy-supply-support-measures-businesses-households-2852046
๐๐ผ EMA issues second call for proposals to import low-carbon electricity to Singapore
https://www.straitstimes.com/singapore/environment/ema-issues-second-call-for-proposals-to-import-low-carbon-electricity-to-singapore
๐๐ผ'Not tenable' for Government to subsidise electricity consumption, says Tan See Leng
https://www.channelnewsasia.com/singapore/elecricity-price-subsidy-not-tenable-tan-see-leng-2606246
๐๐ผEMA extends measures to secure energy supply, stabilise prices till end-March 2023
https://www.straitstimes.com/singapore/housing/ema-extends-measures-to-secure-energy-supply-stabilise-prices-amid-continuing-global-crunch
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[11:04 am, 03/08/2022] +REACH: Dear Contributors
We’d love to HEAR from YOU on today's topic ๐
We have had good feedback and hope that we can keep the discussion robust and active!
Megan
[11:15 am, 03/08/2022] +Smiley face: 3 August, 2022
"Save, Save, Save"
The law of attrition :
Both private and public entities to learn the new habit of consuming lesser electricity. Each has to assess its own electricity usage on needs and switch off unnecessary wastages at all time that is the entire 24 hours whether is a household, small business, big office, government office, public lamp post, hawker centre, school. Subdidies or vouchers or rebates all has its limitation and economics impact and consequences, simply not a sustainable solution, perhaps, SAVINGS is the prudent way...
In the coming months, the prices of oil or gas will be pricier and the supply may not be as Predictable than today. There is a urgent needs to think and plan for "just in case" scenarios because 95% of our energy need is from LNG. The only way is to continuously buying more than we need in the futures market regardless of escalating international energy prices. This is an unprecedented moment for the world and especially developed nations that are heavily dependent on oil, gas and coal for their economic activities.
[11:19 am, 03/08/2022] +Frankie Wee: Should we have new project in Singapore owned product emery power
https://spectrum.ieee.org/lessons-learned-along-europes-road-to-renewables
[11:19 am, 03/08/2022] +Ken Loh: Based on the price increase if don’t want spend more then use less… supply demand…
Subsidy or handout to low income might be given to tide over high price.
[11:22 am, 03/08/2022] +Ken Loh: Electricity is a basic need. Even if the price increase 20% most family can still afford.
Having going to spend outside less. But the money will flow outwards as oil are mainly imported.
[11:22 am, 03/08/2022] +Smiley face: Be a responsible and conscious user regardless of electricity or any materials that is tangibles or intangibles. The world is 8 billion lives, it is getting overly populated and the competition for resources will just be tougher and harder as time rolls on... We have to take responsibility to choose between what one's need versus what one's want...
[0:00 pm, 03/08/2022] +lesli: https://www.channelnewsasia.com/asia/us-speaker-nancy-pelosi-taiwan-china-beijing-washington-2853311
Wonder how this further effect our energy price .... if there is more conflict.. ๐ฐ
[0:07 pm, 03/08/2022] ☸️ Danny ๅฟ:
1. Our energy supply are mainly imported and we are the price taker.
Hence we will always be subjected to fluctuating oil prices.
2. For HDB flat owners, we are fortunate that government has provided u-save vouchers to subsidize the rising utility bills which is greatly appreciated.
Non-hdb owners also receive some help - $100 for this year to cushion the energy inflation.
3. Going forward, we need to diversify more energy sources in the short term to ensure we are less subjected to the fluctuating oil prices.
4. In the longer-term, self sufficiency in energy supply such as solar, hydrogen gas, safe nuclear energy should be looked into in order to yank ourselves out from the need to import natural gas or oil for our energy needs in which we have no control in the fluctuating prices.
[0:10 pm, 03/08/2022] +danielhl chua: Draw price comparisons to our neighbouring countries.
[0:35 pm, 03/08/2022] +Rama: Two pla navy carrier battle groups on the way to intimidate Taiwan.
[0:41 pm, 03/08/2022] +Frankie Wee: Ready to war over Taiwan when China has warned
[0:41 pm, 03/08/2022] +Smiley face: Hi Andrew, good afternoon...
Battle proven US navy versus exercise proven China navy
[0:46 pm, 03/08/2022] +Rama: Bookies odds!?
[0:46 pm, 03/08/2022] +Rama: Don't say I did not warn you!
[1:03 pm, 03/08/2022] +Rama: I told you so!
[1:10 pm, 03/08/2022] ☸️ Danny ๅฟ:
1. I don't think a war will erupt if US navy don't intervene and Taiwan military don't react - when China conduct their drill.
2. China in effect is performing a total air and sea blockade of the whole Taiwan to conduct live firing exercise -
After it fail to intercept or give up a higher stake interception of the Spar19 plane from landing in Taiwan.
3. The most important thing to note is when Spar19 take off from Taiwan and fly to Japan and Skorea - how will US air force and carrier carry out their escort - and how China PLA airforce and navy react to the takeoff.
If any miscalculation - then a military conflict can happen.
[1:14 pm, 03/08/2022] ☸️ Danny ๅฟ:
Yesterday, US aircraft carrier and 3 warships guarded the east side of Taiwan together with couple of f18s takeoff from Japan to escort the Spar19 to land on the East of Taiwan - where China airforce and carrier is position on the west of Taiwan to avoid direct confrontation.
[1:17 pm, 03/08/2022] ☸️ Danny ๅฟ:
Flight radar tracking blackout - when Spar19 is about to land in Taiwan.
[1:31 pm, 03/08/2022] +Smiley face: 3 August, 2022
The 'AC-DC' Interchange of Energy:
In the next ten years, there will be more than 2 billions (3 billion) people living and working in urbanised and developed cities of the world.
Foremost, the more this world digitises, the more energy it takes into and the more desperate it needs to tap on greener ways such as solar, wind, water or nuclear in a combined interchangeable algorithm of switch from one to the other or from one jumped into 2 sources of alternate energy.
Nations will have to calculate and prospect its consumption trends, vulnerabilities and pegged against socio-economic and the changing demographics especially for big urbanised global cities.
The traditional sources of energy have been coal, nuclear, oil and gas. The promis…
[1:33 pm, 03/08/2022] ☸️ Danny ๅฟ:
4. The important things to watch is when China navy, missile and airforce conduct live firing drill around Taiwan, how will Spar19 takeoff?
5. Only quiet communication between China PLA and US military to negotiate a truce in the live firing exercise that surround Taiwan - before Spar19 can safely takeoff - without China missiles accidentally hitting the Spar19.
6. We will have to observe whether this happen - else a miscalculation can happen - and a war can break out - if US carrier and airforce need to do a high risk extraction and escort of Spar19 - when the PLA refuse to stop the live firing.
[1:37 pm, 03/08/2022] ☸️ Danny ๅฟ:
7. There is no win for US and Taiwan even if Spar19 safely leave Taiwan - because China PLA navy and air force can continue to maintain air and sea blockade around Taiwan for days, weeks or months - putting Taiwan into a seige.
[1:41 pm, 03/08/2022] ☸️ Danny ๅฟ:
8. Our armour base in Taiwan also kenna trap.
[1:46 pm, 03/08/2022] +Frankie Wee: https://www.cnbc.com/2022/08/02/apple-chipmaker-tsmc-warns-taiwan-china-war-would-make-everybody-losers.html
[1:47 pm, 03/08/2022] +Frankie Wee: The global economy will drop if China begin war
[1:48 pm, 03/08/2022] ☸️ Danny ๅฟ:
Extraction of our armour base can take weeks or months.
Seige only take days - and our assets got trap.
[1:50 pm, 03/08/2022] +Smiley face: 3 August, 2022
"Battle Proven Vs Exercise Proven"
Both countries have their internal challenges, the Chinese leadership will be heading for their Beitai river retreat and follow by the 20th CCP big meeting which will happen in November. Likewise, the Americans will have their mid term elections in November too. What's the risk and benefits to play up each other, excessively...
Since April, both officials from the US and China have been in talks regarding one matter, that is Speaker Pelosi intent visit to ROC.
From the start of the Speaker Pelosi stopped in Singapore to the next few countries were calibrated and agreed upon. These measurements though not communicated to the curious world, it has been settled unless things change at the last minute and unscripted comments from the Speaker..
[1:52 pm, 03/08/2022] +Smiley face: COVID is the ultimate weapon for DIVISIVE means and the VACCINE is the TOOL added towards a DECOUPLING WORLD OF THE TWO SUPERPOWERS and the followings thereafter! "
-- annoymous (circa 2020)
[1:54 pm, 03/08/2022] +Smiley face: " Life is like a theater; often very bad people occupy the best seats"
- - Euripides
[2:02 pm, 03/08/2022] +Rama: Contingency!?
[2:02 pm, 03/08/2022] +Rama: Yes
[2:04 pm, 03/08/2022] ☸️ Danny ๅฟ:
๐คท
[2:06 pm, 03/08/2022] ☸️ Danny ๅฟ:
If PLA intend to keep Spar19 down in Taiwan for days, weeks or months - they can do so.
The speaker can book a place in the island to stay for holiday...
[2:08 pm, 03/08/2022] ☸️ Danny ๅฟ:
US make China lose face.
Now China can do likewise.
So don't understand how such brinkmanship useful - except to disturb our peace in the region.
[2:12 pm, 03/08/2022] +Rama: Will we see a Marshall plan like for Germany in world war two!?
[2:16 pm, 03/08/2022] +REACH: Dear Contributors,
Please be reminded to keep to the topic that is being discussed. We have had good feedback from this group, and we hope we can keep the discussion robust and active.
Thank you!
Megan.
[2:24 pm, 03/08/2022] +Boon: Yes, concerned. Concerned too about the trade off between emery sufficiency and additional inflation to everyday living expenses from ambitious multi-billion Green projects like this: https://www.businesstimes.com.sg/energy-commodities/giant-australia-to-singapore-solar-project-targets-2024-build?amp
[2:29 pm, 03/08/2022] +Boon: Concerned about the broad knock on effects like on rent, food, eating out, transportation (has anyone noticed S$30 grab fares are not uncommon) and disposal income. Raising salaries (https://sg.yahoo.com/finance/news/singaporeans-are-spending-more-but-incomes-arent-keeping-up-dbs-says-050145006.html) and continuous govt grants are not sustainable.
[2:42 pm, 03/08/2022] +REACH: ๐ขTopic ๐ข
Measures taken by the authorities so far have helped to ensure uninterrupted energy supply and stabilised wholesale electricity prices here, said Second Minister for Trade and Industry Tan See Leng in Parliament on Tuesday (Aug 2).
๐ฌ Are you concerned about the global energy crunch, and it's impact on Singaporeans' electricity prices?
The world has been facing an energy crunch since last September, and global gas prices would continue to increase due to the conflict in Ukraine and seasonal increase in energy demand from countries for the upcoming winter. As Singapore relies on imported natural gas to generate around 95% of its electricity, higher fuel prices globally will result in higher domestic electricity prices.
The Government will also …
[2:47 pm, 03/08/2022] +Anne: Some clean energy sources that can, or potentially can, provide consistent electricity:
1) nuclear power - I feel this is a dangerous option and should only be used as a backup in the event of energy crunch
2) low energy nuclear reactions (LENR) - our G can partner with commercial companies to develop this.
Other solutions like solar and wind power may not be viable solutions in providing consistent energy.
One solution to lower electricity bills is to make peace with Russia. Sanctions on Russia have proven useless and now Russia is forming its allies to topple the USD as THE petrodollar and as the world’s reserve currency. Russia has even given India discount of USD35 per barrel of oil from market price. As a little red dot on the world map, we cannot afford to make enemies, and now we have angered Russia. Europe is now suffering from the repercussions of sanctioning Russia and it is going to be dire for them in winter. We should have played our cards like China - be two-faced. On the one hand be friendly with NATO and on the other try to be friendly with BRICS. We will then benefit whichever side wins. If Russia is willing to offer us oil and gas at lower prices this will help to lower our electricity bills with less subsidies required from the G.
Procure more gold (while it’s still cheap and available) and other assets and be prepared to back the SGD with them when the time comes. This will help to prop up the SGD to offset outside inflationary forces. Subsidies can be given to exporting companies if required.
[3:25 pm, 03/08/2022] ☸️ Danny ๅฟ:
Taiwan very rich, strong reserves - they don't need a Marshall plan.
[3:31 pm, 03/08/2022] ☸️ Danny ๅฟ: China also very rich.
[3:34 pm, 03/08/2022] +Frankie Wee: Yes China is 2nd world economy
[3:49 pm, 03/08/2022] ☸️ Danny ๅฟ:
$19 trillion GDP a year.
[3:56 pm, 03/08/2022] +Ken Loh: GNI still low
[4:02 pm, 03/08/2022] +REACH: ๐ขTopic ๐ข
Measures taken by the authorities so far have helped to ensure uninterrupted energy supply and stabilised wholesale electricity prices here, said Second Minister for Trade and Industry Tan See Leng in Parliament on Tuesday (Aug 2).
๐ฌ Are you concerned about the global energy crunch, and it's impact on Singaporeans' electricity prices?
The world has been facing an energy crunch since last September, and global gas prices would continue to increase due to the conflict in Ukraine and seasonal increase in energy demand from countries for the upcoming winter. As Singapore relies on imported natural gas to generate around 95% of its electricity, higher fuel prices globally will result in higher domestic electricity prices.
The Government will also …
[4:15 pm, 03/08/2022] +Smiley face: Hi Anne, to addon to yours... Thanks
3 August, 2022
The missing pieces...
The world can be viewed metaphorically like a gigsaw puzzle. As at today, there are missing pieces that need to complete a full picture of everything living and non living.
The Russian crude is classified aa Sour crude whereas the OPEC nations crude are sweet. There is a big price spread between the crude oils. The refining process of sour and sweet are different in terms of production cost itself, the ethanol addictives and the carbon footprint too.
In all commodities trades , two considerations, one is the physical routes and two the currency of trades. Should country like Saudi Arabia, India or China engaging with Russia on oil and gas deals (is happening now) , each has to ag…
[4:19 pm, 03/08/2022] +Smiley face: Be ready for a further 20 percent up in price of majority of goods and services comes winter 2022.
[4:20 pm, 03/08/2022] +Rama: With the possibility of Taiwan and China conflict
[4:21 pm, 03/08/2022] +Smiley face: Good point from Danny and Anne, that is to get READY to support our vulnerable citizens and our SMEs.
[4:22 pm, 03/08/2022] +65 8444 1348: Definitely will be concern. But there is not much we can do other than to minimise usage.
[4:23 pm, 03/08/2022] +Smiley face: Hi Andrew, yes, this Taiwan straits will add up to 35 percent should things gotten worse off as at today...
[4:24 pm, 03/08/2022] +Smiley face: Hi uncle, yes yes yes,.... Can save please save alot for rainy days are getting more and more.... Good point, uncle...
[4:24 pm, 03/08/2022] +Rama: ๐คท♂️๐คฆ♂️๐ฏ๐๐๐๐ฏ
[4:25 pm, 03/08/2022] +Smiley face: Missing gigsaw puzxle pieces.... Tougher and harder days ahead....
[4:26 pm, 03/08/2022] +Smiley face: Go for the NEEDS and abandon the WANTS....
[4:28 pm, 03/08/2022] +Smiley face: Fortunately, Singapore high savings rate whether is citizens or government, we have the means to BUFFER this perfect storm...
[4:29 pm, 03/08/2022] +Rama: Agree
[4:29 pm, 03/08/2022] +Rama: Buffer time cannot be indefinite
[4:30 pm, 03/08/2022] +Smiley face: "staying CALM in the mist of chaos..." what locals would call it.... Steady hah...
[4:30 pm, 03/08/2022] +Smiley face: Twenty four months
[4:31 pm, 03/08/2022] +Rama: Spend wisely
[4:31 pm, 03/08/2022] +Smiley face: Steady brain will yield steady hands that brings stability in this fast evolving worldly affairs...
[4:32 pm, 03/08/2022] +Smiley face: Yes, yes, yes.... Go for needs.
[4:32 pm, 03/08/2022] +Smiley face: Be brave and avoid been suck into that rabbit hole or worse pig stil
[4:33 pm, 03/08/2022] +Smiley face: Moderation will win
[4:33 pm, 03/08/2022] +Rama: Yes
[4:34 pm, 03/08/2022] +Smiley face: For been extreme will find no exit out of any trouble...
[4:36 pm, 03/08/2022] +Smiley face: Let all of us, stay united, be watchful of our spending and the playing out of these big boys.... Watch it and never panic, for life is always a theatre. Today, the theatre happens to be in Taiwan. What's tomorrow going to be featured...
[4:38 pm, 03/08/2022] +Smiley face: "Nothing is over until it is all over... "
- - annoymous
[4:38 pm, 03/08/2022] +Rama: Come together and persevere
[4:38 pm, 03/08/2022] +Smiley face: Bingo, Andrew... We got it...
[4:39 pm, 03/08/2022] +Smiley face: "United is like strength, scattered is like ash... "
[4:39 pm, 03/08/2022] +Rama: Yes
[4:41 pm, 03/08/2022] +Smiley face: Confidently, our policymakers will help our vulnerables and businesses... That's a guarantee, how much and how deep these helps, will be subject topic to discuss till the moon turns pink...
[4:43 pm, 03/08/2022] +Smiley face: Hope folks will not take these helps for granted and start comparing this country and that one doing better and so on...
[4:44 pm, 03/08/2022] +Rama: Likewise
[4:45 pm, 03/08/2022] +Smiley face: Simply, all governments of the world need taxes to derive revenues... No magic carpet or magic
[4:45 pm, 03/08/2022] +Rama: Yes
[5:03 pm, 03/08/2022] +BL: Short Answer: Yes. Energy availability and cost affects all productivity, transport, economies and historically is a major cause of conflict betweeen nations.
[5:04 pm, 03/08/2022] +BL: Perhaps we can look to the positives and see this as opportunity to develop better energy producing technology however and also reduce our consumption habits generally.
[5:07 pm, 03/08/2022] +BL: I don't think we should buy energy from Russia. Their actions are atrocious and small countries need to support each other, or we could be next. The world needs to see that Russia's actions are not acceptable, even if it means high short term cost impact.
[5:07 pm, 03/08/2022] +BL: If all countries said no to Russia, this war would stop.
[5:08 pm, 03/08/2022] +BL: Then energy prices would come back down and food supply would be restored.
[5:10 pm, 03/08/2022] +Rama: Agree
[5:10 pm, 03/08/2022] +Rama: ๐๐คฃ๐ ๐คท♂️
[5:11 pm, 03/08/2022] +Frankie Wee: Putin won’t said stop either peace. All he want is nature land is belong.
[5:11 pm, 03/08/2022] +Rama: Yes
[5:12 pm, 03/08/2022] +Frankie Wee: Who can stop this war? There is no exist God.
[5:12 pm, 03/08/2022] +Rama: Mankind has to wake-up and be reasonable
[5:13 pm, 03/08/2022] +Frankie Wee: Ask Putin do you believe in god?
Would he said?
[5:14 pm, 03/08/2022] +Frankie Wee: How I wish Jesus would come down on earth then ppl will realise how is real is… believe…
[5:16 pm, 03/08/2022] +Sugeng Shi: Betul 6 AM Arizona = 20:00 WIB
[5:18 pm, 03/08/2022] +Rama: Amen
[5:24 pm, 03/08/2022] +Rama: Just crossed my mind on a topic related to cost - Russia can threaten Europe over gas transmission pipeline. We are importing electricity from Laos, natural gas from Indonesia. Can the same happen to us in future!?
[5:30 pm, 03/08/2022] +Frankie Wee: Our asia is ASEAN very friendly with trade agreements. It won’t happen affect us.
[5:31 pm, 03/08/2022] +Rama: ๐๐๐๐๐ค
[5:37 pm, 03/08/2022] +Smiley face: Perhaps, the Sun Cable investment of over $20 billions is a worthy initiative, going into the unknown future.
[5:37 pm, 03/08/2022] +REACH: ๐ขTopic ๐ข
Measures taken by the authorities so far have helped to ensure uninterrupted energy supply and stabilised wholesale electricity prices here, said Second Minister for Trade and Industry Tan See Leng in Parliament on Tuesday (Aug 2).
๐ฌ Are you concerned about the global energy crunch, and it's impact on Singaporeans' electricity prices?
The world has been facing an energy crunch since last September, and global gas prices would continue to increase due to the conflict in Ukraine and seasonal increase in energy demand from countries for the upcoming winter. As Singapore relies on imported natural gas to generate around 95% of its electricity, higher fuel prices globally will result in higher domestic electricity prices.
The Government will also …
[5:38 pm, 03/08/2022] +Rama: Yes
[5:39 pm, 03/08/2022] +jimmy chew: If you play Russia's game plan it will. False flag operations. Say your country citizens are in jeopardy and the have a peace keepers to maintain protection and punish Singapore if we resist
[5:40 pm, 03/08/2022] +Smiley face: Suggest government give out every two months, cash to subsidise all households, especially public housing estates. Starting from $100 to $200
[5:40 pm, 03/08/2022] +Rama: Great
[5:40 pm, 03/08/2022] +Frankie Wee: Cool
[5:41 pm, 03/08/2022] +Smiley face: Average 2 room HDB monthly utilities is $150
[5:42 pm, 03/08/2022] +Smiley face: What's the average utilities bill for 3, 4 5 HDB households... Anyone, pls fill the blank, thank you.
[5:43 pm, 03/08/2022] +Smiley face: Plus every quarter, $100 GST vouchers too... Especially for public housing households... For others, perhaps only twice yearly.
[5:44 pm, 03/08/2022] +Smiley face: Needs precedes wants, case by case too. The monetary helps vary with cases...
[5:52 pm, 03/08/2022] +Riviere Condo: Can not be so high for 2 room flat. For 3 room flat of my only $110-130 a month
[5:52 pm, 03/08/2022] +Smiley face: Bring forward the proposed and approved budget for GST and others subsidies, faster these disbursements from the projected 5 years into perhaps 2.5 years which make sense in this challenging and highly uncertain global situations (Dire freto ๆฐดๆทฑ็ซ็ญ).
Is it possible and doable to amend...
[5:53 pm, 03/08/2022] +Smiley face: Including town council fees... Apologies.
[5:55 pm, 03/08/2022] +Smiley face: Secondly, what if there comes Incremental for utilities... Known fact that oil and gas happens to be gold (black gold)...
[5:57 pm, 03/08/2022] +Frankie Wee: Is it called special budget again
[5:59 pm, 03/08/2022] +Smiley face: Present value vs future value... This case is money...
[5:59 pm, 03/08/2022] +Smiley face: Thank you, Frankie...
[6:35 pm, 03/08/2022] +Smiley face: For owner's occupied households.
[6:45 pm, 03/08/2022] +REACH: Dear Contributors,
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan
[7:00 pm, 03/08/2022] +REACH: Dear Contributors,
We will be closing the chat for today.
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan ๐
=====
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