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Daily Digest 11/13 - ND Shale Boom Has Reached Tipping Point, U.S. To Overtake Saudi Arabia In Oil Output By 2020

Tuesday, November 13, 2012, 12:18 PM

Economy

The Next Major New Showdown Between Washington and Wall Street (David B.)

Voters have spoken. But the market has not. And a major new showdown between Washington and Wall Street is now in the making.

Letter to a future Republican strategist regarding white people (Michael W.)

May I explain why not, purely for your education, such that you might be interested in winning an election on the national level at some point in the future? It bears pointing out that I should be your Low Hanging Fruit, the easy vote to get as opposed to, say, African-Americans, Latinos, or Asians – and you’re not even speaking well to me. The reasons why ought to concern you deeply.

7 Habits Of Highly Frugal People (westcoastjan)

The first habit of highly effective people is to take responsibility for their own lives; if they fail, they have no one to blame but themselves. Regardless of how you were raised or how you were treated at school you are able to choose your behavior now. Being proactive means understanding that you are in control of the direction your life takes and in control of your day to day interactions. Whereas a reactive person is often affected by their environment and will find external sources to blame for their behavior, for example if the weather is good they are in a good mood but if the weather is bad it affects their attitude and so the weather is to blame for their bad mood.

Spain pledges to spare needy from eviction after homeowner jumps to her death as bailiffs arrive (westcoastjan)

Banks have repossessed close to 400,000 homes in Spain since a property bubble burst in 2008 and the nation subsequently sank into recession, throwing millions out of work and unable to keep up mortgage payments to the banks.

Gap In U.S. Bank Prosecutions Seen (westcoastjan)

LaCoste National Bank President Jody Gwyn pleaded guilty in 2010 to making false entries in the LaCoste, Texas, bank's books in 2008 to cover up bad loans. He was sentenced to five years. The bank had $54 million in assets and failed in 2010.

Hume Bank, based in Hume, Mo., was seized by regulators in 2008. The bank's former president, Jeffrey Thompson, is serving 6 1/2 years in a Duluth, Minn., prison for concealing problem loans from examiners.

U.S. Fed says ‘spend’ but worried Baby Boomers won’t listen (westcoastjan)

Federal Reserve officials say they’re concerned that retirees like the Rodwicks are blunting the impact of record easing aimed at creating jobs. The reason: Older people are more likely to forgo purchases of houses, cars and other big-ticket items that the Fed is trying to encourage with near-zero interest rates. And their numbers are growing, making the Fed’s task ever harder.

Energy

BARCLAYS: North Dakota's Shale Boom Has Reached A Tipping Point (adam)

Data from drilling firm Smith Bits shows a year-over-year decline of four rigs in August, which doesn't sound like much. But Horsnell says "there are lags, as well as efficiency and productivity effects, that slow and complicate the mapping between rig counts and output."

IEA: Renewables to Become the Second Largest Energy Source in the World by 2015 (James S.)

Greenpeace has also released its Greenpeace Energy Revolution 2012 report, in which it believes that the IEA report is too lenient. Sven Teske, a campaigner with Greenpeace International, said that “renewable energy must grow to 65% of electricity production and energy efficiency must increase by 2035 to reduce the impact of climate change. Otherwise, based on this forecast, the world is still headed for a catastrophic temperature increase of 4 to 6 degrees Celsius.”

U.S. Oil Output to Overtake Saudi Arabia’s by 2020 (kelvinator)

Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about five years starting about 2020, the Paris-based adviser to 28 nations said today in its annual World Energy Outlook. The U.S. met 83 percent of its energy needs in the first six months of this year, according to the Energy Department in Washington.

U.S. to overtake Saudi as top oil producer: IEA (Free Stuff)

"Energy developments in the United States are profound and their effect will be felt well beyond North America - and the energy sector," the IEA said in the annual long-term report, giving one of the most optimistic forecasts for U.S. energy production growth to date.

Environment

Farm to fork: The growing movement of urban farming (westcoastjan)

Adam Shaw travels to New York where he meets some of the pioneers of urban agriculture, including a commercial organic farm using traditional agricultural methods but located on the roof of a six-story block in the shadow of the Empire State Building. He also learns how advances in greenhouse technology are encouraging higher crop yields in a smaller amount of space.

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5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 2472
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 2472
The deficit is too small...deficits are actually a good thing

"And just to be clear, the danger for next year is not that the deficit will be too large but that it will be too small, and hence plunge the United States back into recession.

Deficit scolds are having a hard time with this issue. How can they warn us not to go over the fiscal cliff without seeming to contradict their own rhetoric about the evils of deficits?

This wouldn't be hard if they had been making a more honest case on the budget: The truth is that deficits are actually a good thing when the economy is deeply depressed, so deficit reduction should wait until the economy is stronger."

westcoastjan's picture
westcoastjan
Status: Gold Member (Offline)
Joined: Jun 4 2012
Posts: 463
re letter to a future republican

What an amazing letter by this man, well worth reading. I am certain many will be able to relate to what he is saying. I liked it so much I am going to forward the link to some people I know.

As long as we have people like this who are willing to stand up and be counted, we can have hope for a better future.

rhare's picture
rhare
Status: Diamond Member (Offline)
Joined: Mar 30 2009
Posts: 1264
I suspect there are many who feel the same way to the Democrats

westcoastjan wrote:

As long as we have people like this who are willing to stand up and be counted, we can have hope for a better future.

I don't agree with all his stances, but he does hit the nail on the head that the GOP is really disconnected.  Of course I think the Democrats are just as bad.  Most people I know weren't voting for anyone they liked, more for the lesser of two evils.  I mean the Democrats layed it on pretty thick saying things like "you'll be back working in the field if Romney wins".  Like that's really rational discourse?

I don't want the Republicans or Democrats telling me who I can sleep with, what marriage is, what food I can eat or how I have to buy healthcare ...  Both are so completely in search of ever more power and ways to spend, it's just insane. However, clearly a vast majority still choose to play the game of vote for the lesser evil... crying  If either party even remotely stuck to there "core values" it would nice.  Republicans clearly are not the party for less spending and the Democrats clearly are not the protectors of civil liberties.

westcoastjan's picture
westcoastjan
Status: Gold Member (Offline)
Joined: Jun 4 2012
Posts: 463
could not agree more

Rhare,

Well said. I could not agree more with you, especially with regard to "really disconnected". That was the point of what I like about his letter. He did a good job of describing the many different ways that disconnect evolved. It is not just a singular issue. And for sure, both parties are guilty. I would add that the US does not have a monoploy on that, with most global politicians these days completely out to lunch, ours included (especially here in BC at the moment).

I see far more intelligent and "with it" people on this website than I do in many of the great halls of power wink

As to "core values", sadly I think most politicians were hiding behind the door when these were passed out. Either that or they checked them at the door when the got elected. But absolutely a return to core values sprinkled with a healthy dollop of integrity would do wonders to give the populace some level of confidence. As it stands now our confidence has been reduced to voting for what we hope will be the lesser evil - same predicament up here in Canada. How sad is that?

I sure hope the next few years see some serious political soul searching at every level, and demonstration of serious efforts to change for the better. It will not be pretty if that does not happen.

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