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

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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