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Our Bubble Economy Is On Its Last Gasp thumbnail

Our Bubble Economy Is On Its Last Gasp

Over the years I’ve heard the cries of “Economic Collapse Ahead!” more times then I care to remember. I’m sure you have as well. Ever since the crash of 2007-2008, it seems like nearly every internet voice has claimed at one time or another, that we are headed for an apocalyptic market correction (and just around the corner too!). This of course, is not without merit. You’d be a fool to think that we’re on a sustainable course. It has come down to a matter of simple arithmetic. From federal and municipal debt, to stock market and housing speculation; from personal credit to student loan debt, we’re in heaps of trouble. We can project how much society as a whole will earn in the future, deduct how much we owe, and how much we will owe, and see that none of ...

Consumption

Inflation Watch: How Much $1 Used To Get You

Despite promises that inflation is "contained," the dollar ain't quite what it used to be...     Don’t Worry. Inflation is Well Contained according to your friends at the Federal Reserve. burning platform

British PM vows justice after ‘act of pure evil’ thumbnail

British PM vows justice after ‘act of pure evil’

British Prime Minister David Cameron said this weekend that the apparent beheading of British aid worker David Haines by Islamic State militants was an "act of pure evil" and vowed to "hunt down these murderers and ensure they face justice." Cameron made the comments late Saturday after a video emerged online released by ISIL or ISIS of a man resembling the 44-year-old Scot kneeling beside a masked militant who speaks in British-accented English. Britain's Foreign Office said Sunday it believes the video to be genuine. The video, which goes on to show Haines' brutal slaying, is similar to footage released by ISIL showing the killings of American journalists James Foley and Steven Sotloff. Haines is at least the third westerner murdered by the Islamic extremist group under exceptionally barbaric circumstances and his death comes as Washington has stepped up a campaign to enlist ...

Business

The Soft Patch In Oil Prices Is Here To Stay

Summary The world has been living with expensive oil for the past decade. Expensive oil is associated with higher capex on exploration and production. The current oversupply of oil is a secular, not a cyclical phenomenon: expect the soft patch in oil prices to persist. One good way of estimating whether oil is expensive or cheap is to take total oil consumption, multiply it by international oil prices, and express the result as a share of GDP. The result is a measure of "oil spend", which, over the past 40 years has gone through three distinct phases. After the 1973 oil crisis, oil spend spiked up, and while volatile, it averaged around 4.5% of developed country GDP for the next decade or so, which represented a period of "expensive" oil. The second phase kicked in as oil prices collapsed in 1986, and lasted about 17 ...

The Seven Billionth Child thumbnail

The Seven Billionth Child

What is the future of this seven billionth child? The seven billionth child is here. The clock has stopped ticking. Past midnight on October 31, the symbolic seven billionth child was born into some mega spotlights. This time, the UN refrained from declaring one baby as the seven billionth child. Each country declared its own symbolic seven billionth baby. The world's population has now reached seven billion and October 31 was declared by the UN Population Fund as the Seven Billion Day with a campaign to do "seven billion actions". The question intriguing many is: What is the future of this seven billionth child? Some echo the thinking of the executive director of the UNFPA, Babatunde Osotimehin, who in a recent talk at the Harvard Center for Population and Development Studies stressed that the "problems stemming from population growth are actually issues of ...

Business

Bakken Providing Jobs, Economic Growth

In a scene that is being played out in a number of areas across the country, residents of Williston, North Dakota are learning first-hand what a robust energy industry can do for a municipality. In fact, as economic development success stories go, few can top that of Williston, which has been going through a growth spurt in recent years “of historic proportions” amid prodigious oil and gas production in the nearby Bakken Shale formation, Caitlyn Beley, the Communications Director at the Williston Economic Development office, told Rigzone. “There’s no turning back now,” Beley said. “This is the new American dream.” Oil and gas production in the Bakken Shale is not just a part of the reason for Williston’s growth – it is the reason, Beley noted. In addition to the new development, Williston’s airport just added a direct flight from Houston, which ...

With Gas Cut Off, Ukraine Looks West thumbnail

With Gas Cut Off, Ukraine Looks West

Keeping Ukraine warm keeps Andriy Kobolev up at night. Mr. Kobolev, the head of Ukraine’s state energy company, Naftogaz, is scrambling to keep gas flowing into his country as winter looms. Russia’s energy giant, Gazprom, had provided a little more than half of Ukraine’s total gas supply, but suspended its shipments in June in the face of fighting in eastern Ukraine between Russian separatists and the Ukrainian military, citing a price dispute. Europe — itself dependent on Russia but also expanding sanctions on the country — has not been able to fill the gap. That means Ukraine will have to cut its energy use sharply or risk running dry, which could lead to more civilian deaths when the weather turns cold, and could further batter the country’s economy. “The situation is very difficult,” Mr. Kobolev said in a recent interview. “Since we have ...

Consumption

Coal-to-gas displacement not to exceed 2012-2013 levels

At recent natural gas prices, analysts at Barclays Research said Friday that coal-to-gas displacement will not reach the heights it did in 2012 and 2013, with implied average coal displacement in 2014 of 2.5 Bcf/d, or about 74% of that in the previous year. "While current prices certainly are lower than the high levels during the peaks of the winter, they are not lower than in years prior when we estimated larger amounts of implied coal displacement in the market," analysts said in a report released Friday. The NYMEX Henry Hub front month futures contract hit a 10-year low of $1.907/MMBtu on April 19, 2012. Dry natural gas production in April 2012 totaled 1.95 Tcf, compared with 1.87 Tcf in April 2011 and 1.73 Tcf in April 2010. The trend has continued with April 2013 output at 1.98 Tcf and April 2014 ...

White House, Pentagon say US ‘at war’ with ISIS thumbnail

White House, Pentagon say US ‘at war’ with ISIS

The White House and Pentagon acknowledged Friday that the U.S. “is at war” with the Islamic State -- contradicting Secretary of State John Kerry and others who a day earlier refused to use that term, prompting criticism from lawmakers that the administration was downplaying the conflict. White House Press Secretary Josh Earnest and Pentagon spokesman Rear Adm. John Kirby used almost identical language when pressed by reporters Friday whether or not the expanded military operation against the terrorist group is in fact a war. “In the same way that the United States is at war with Al Qaeda and its affiliates … the United States is at war with ISIL,” Earnest said. Kirby said “this is not the Iraq War” from a decade ago, “but make no mistake -- we know we are at war with ISIL in the same way we are ...

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Entire Leadership of ISIS Opposition Wiped Out by ‘Unexplained’ Explosion thumbnail

Entire Leadership of ISIS Opposition Wiped Out by ‘Unexplained’ Explosion

Nearly fifty senior commanders of a major coalition of Islamic 'moderates' opposed to ISIS in Syria have been killed by an explosion at their secret command bunker as they met to discuss strategy against the the Islamic State. The blast in the Northwest region of Idlib, Syria on Tuesday killed senior members of rebel group the Ahrar-al-Sham brigade (AaS), including leader Hassan Abboud and 45 others including senior members from other rebel alliance groups, reports The Times. The Idlib region stands in AaS territory, but it is close to the front-line with ISIS in neighbouring Aleppo. Sources dispute the source of the blast, with it being unclear whether it was an opposition group, suicide bomber, or accidental explosion at a nearby ammunition dump. Regardless, the incident will destabilise and possibly tear apart the AaS group and associated Islamic Front Coalition which was ...

Exploding World, Cheap Oil thumbnail Exploding World, Cheap Oil
Geopolitical crises abound, but oil producers are still pumping -- and pumping more than ...
Business New Sanctions to Stall Exxon’s Arctic Oil Plans
Exxon Mobil’s ambitions in Russia appear to have been dashed, at least until the ...
The Greatest Peak Oil Novel Ever Written thumbnail The Greatest Peak Oil Novel Ever Written
  Herman Melville never mentioned "peak whale oil" in his "Moby Dick", published in 1851. ...
Oil Price Plunge? It’s The Global Economy, Stupid! thumbnail Oil Price Plunge? It’s The Global Economy, Stupid!
The decline in the price of oil - in the face of surging geopolitical ...

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US sees Middle East help fighting IS, Britain cautious after beheading - bdnews24.com #peakoil bit.ly/1uOlWvV
Science Fiction: Technological dis-information in the era of Peak Oil iamsully.com/?p=12616 #ScienceFiction #PeakOil #Fantasyland #Aliens
In some ways, the real purpose of much Hollywood science fiction is to sell an opposing narrative to #PeakOil - "alien spaceship mythology".
Australia returns to Davis Cup world group in 2015 | Neos Kosmos #peakoil bit.ly/1m4zmo4