Daily Digest

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Daily Digest 12/14 - Petroleum's Great Revival, What Next For UK After Fracking Ban Lift?

Friday, December 14, 2012, 11:48 AM

Economy

Eurozone bank deal: Group edges towards union (westcoastjan)

So, when Europe's leaders gather in Brussels they will be examining a "blueprint" for building what is called "genuine" economic and monetary union.

So, down the road - and probably not too far ahead - the European Union will seek closer co-ordination of national budgets and economies, how to enforce reforms and how to fund and wind down failing banks.

Philadelphia superintendent identifies schools he intends to close (Thomas C.)

The district recently borrowed $300 million just to pay bills and issue paychecks through the end of the school year. It faces an equally tough picture for next year, and if one action built into its five-year plan doesn't happen, dominoes would start to tumble.

"If we don't take these actions now, we actually have no money to spend," Hite said of the closings.

Essays In Fragility: The Rise And Fall Of Phantom Housing Collateral (safewrite)

Was the equity in the bubble years real or phantom? It was real for those who sold and turned the bubble equity into cash. But how many of the 75 million mortgage holders sold and did not acquire another mortgage? Given that the number of mortgages has barely budged (around 50 million), not many.

For everyone else, borrower and lender alike, the equity and the collateral were phantom.

Net Energy, the Key to Energy Investing (James S.)

Net Energy is the Long-Term Key. Net Energy is the equivalent of take home pay, or after tax profits. It is useful energy: relative to the energy required to deliver said energy to the economy. Net Energy is expressed as a ratio such as oil in the 1970s of 25:1. Oil has depleted below 5:1. As Net Energy drops below 5:1 the resource drops off the Energy Cliff.

UK Lifts Fracking Ban, Now What? (James S.)

Environmentalists feel it is still too early to be green-lighting fracking, in the absences of a sound environmental impact study. It’s not only earthquakes that have the public worried—it’s the potential to poison drinking water.

Norway Set To Test The 'Energy Source Of The Future' (Jason C.)

It may seem surprising that Norway, the largest oil producer in Europe, is aggressively pursuing this alternative source of energy. However, the nation has always been a proponent of nuclear energy, though its attempts to develop domestic plants petered out in the 1960s – and Norway has extensive reserves of thorium. (In fact, thorium was discovered by a Norwegian mineralogist and named after Thor, the Norse god of thunder.)

Peter Foster: Petroleum’s Great Revival (westcoastjan)

Dr. Yergin also outlined a “rebalancing” of the entire global energy industry, significantly related to that Great Revival. He did not dwell on the irony that this revival should have taken place under perhaps the most anti-oil president in U.S. history, but then diplomacy is needed when you have the ear of the White House, which in Dr. Yergin’s case is good news for Canada.

170 legal victories empower First Nations in fight over resource development (westcoastjan)

“The current situation in terms of access to resources, with the overarching tensions, has become unsustainable,” Mr. Gallagher said in an interview. “That is the key to the whole thing. Recognizing that Plan A has not worked; let’s put a Plan B together.”

Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

7 Comments

Tall's picture
Tall
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Posts: 243
2012, The Hottest U.S. Year on Record

Like so much recent record-breaking weather, 2012 isn’t just going to break the previous record, 2012 is looking to smash it, by more than 1°F. Climate Central projects the 2012 average temperature for the continental U.S. at 55.34°F compared to the previous record set in 1998 of 54.32°F.

http://www.climatecentral.org/news/book-it-2012-the-hottest-year-on-reco...

littlefeatfan's picture
littlefeatfan
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More 3E related Links, Resources and Cartoons

Weekly Summary at http://3es.weebly.com/  OIL TO THE WORLD Edition

useful resource? give it a thumbs up!

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saxplayer00o1
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cmartenson's picture
cmartenson
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Posts: 3193
What's next for UK after Fracking ban lift?

There are several possibilities:

  • They have plenty of talent, infrastructure and good shale deposits and they immediately begin an energy revival.  Energy score = 100
  • All of the above is true except that the local populace objects to 80,000 pound trucks tearing up their roads and local councils seek to carefully approve the various and dramatic fracking impacts which slows down the whole process dramatically.  Energy score = 50
  • The shale plays are poorer than hoped for.  Energy score = 25
  • The UK goes the way of Poland which was thought to have the best shale deposits in the region but the first three test wells came up essentially empty and the effort was abandoned.  Energy score = 0

It's hard to say at this point because no wells have been drilled, but we do know that not all shale plays are created equally and yet, somehow, each article is presented as if this were all a slam dunk, as if every well were a monster and they just need to be drilled.

This is just not the case, not even in the very well mapped plays in the US.  

Poet's picture
Poet
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27 Killed in Connecticut Shooting, Including 20 Children

Tragic news out of Connecticut.

27 Killed in Connecticut Shooting, Including 20 Children (December 14, 2012)
"A gunman killed 26 people, 20 of them children between ages 5 and 10, in a shooting on Friday morning at an elementary school in Newtown, Conn., about 65 miles northeast of New York City, the authorities said. The gunman, who was believed to be in his 20s, walked into a classroom at Sandy Hook Elementary School, where his mother was a teacher. He shot and killed her and then fatally shot 20 students, most in the same classroom. He also fatally shot five other adults, and then killed himself inside the school. One person was also injured in the shooting."
http://www.nytimes.com/2012/12/15/nyregion/shooting-reported-at-connecticut-elementary-school.html

Poet

A woman holds a child as people line up to enter the Newtown Methodist Church near the scene of the elementary school shooting in Newtown, Conn.

A woman holds a child as people line up to enter the Newtown Methodist Church near the scene of the elementary school shooting in Newtown, Conn.

thc0655's picture
thc0655
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Posts: 473
3 simple, voluntary rules

These mass shooters are sick individuals who are bent on murder and suicide so they can go out in a blaze of glory. The media is largely responsible for enabling them because the perps know they will be made famous around the world after their deaths. If the media were to voluntarily begin following these simple rules for reporting these incidents, the perps would be robbed of their motivation and the incidents would dry up. 1. Never mention the killer's name. 2. Never show the killer's picture. 3. Never discuss in any detail the killer's motivations/grievances.hese mass shooters are sick individuals who are bent on murder and suicide so they can go out in a blaze of glory. The media is largely responsible for enabling them because the perps know they will be made famous around the world after their deaths. If the media were to voluntarily begin following these simple rules for reporting these incidents, the perps would be robbed of their motivation and the incidents would dry up. 1. Never mention the killer's name. 2. Never show the killer's picture. 3. Never discuss in any detail the killer's motivations/grievances.

treebeard's picture
treebeard
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Posts: 348
Tragedy

Words fail me, this is really beyond comprehension.  First is the sorrow and pain, one mind drifts to the parents sitting in their childs room looking at that empty bed.............

Being parents, these are all our children..............

Then the graping to understand, curiosity about the details,  how did this happen?

Then comes the feeling of rage against the individual(s) who committed the unspeakable, how can they be human? Killing innocent children?  Going down in a blaze of glory killing children!?  Media coverage or not, I don't think so.  This is madness beyond madness, these are machines, non humans, bereft of any humanity.

Then comes thoughts about our community, our country, this is not the first time this has happened, this is becoming a regular event.  What are our values as a people?  What does the regularity of these events say about us as a people?  How are we as a culture transmitting our values colectively to future generations? Are we participating in civic life in a way that makes this a better country for everyone?  Have we abandoned our collective work as a culture and retreated into our protected private world at the expense of the rest of society?  What has happened to our collective humanity?

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