Daily Digest

Daily Digest 11/10 - A Closer Look At Europe, The Lobbyist's Playbook, OK Earthquakes Probably Caused By Fracking

Thursday, November 10, 2011, 10:02 AM
  • What Does A Resilient Community Look Like?
  • Weekend Update: A Closer Look At Europe  
  • Eric Sprott talks to James Turk in Munich
  • Toxic Trade
  • New formula would reduce Social Security increases
  • Tax Team Checks On Modesto Businesses
  • Jack Abramoff: The Lobbyist's Playbook
  • Financial Impacts of Reaching ‘Limits to Growth’
  • Biofuels: Not The Savior We Hoped For
  • Solan Shakeout Could Soon Reach China
  • U.S. Government Confirms Link Between Earthquakes and Hydraulic Fracturing
  • All Those Oklahoma Earthquakes Over The Weekend Were Probably Caused By Fracking
  • White House Sidelines Christmas Tree 'Tax'

Follow our steps to prepare for a world after peak oil, such as how to store & filter water

Economy

What Does A Resilient Community Look Like? (Coley H.)

Why is all of this happening now? As John Robb points out, resilient communities are the logical answer to an increasingly unstable global system. The concept introduces organic stability into the smallest viable subset of social systems – the community, and allows them to enjoy the fruits of globalization without being vulnerable to its disruptions.

Weekend Update: A Closer Look At Europe (Phil H., humor)

Eric Sprott talks to James Turk in Munich (adam)

Eric Sprott, Chairman of Sprott Asset Management, and James Turk, Director of the GoldMoney Foundation, meet in Munich and talk about the Munich Precious metals conference (Edelmetallmesse). They comment on Eric Sprott’s speech at the conference and how increasing interventions by central banks, from zero interest rates to money printing and bond buying have completely distorted the financial markets.

Toxic Trade (TG)

Asbestos illness in India is under-diagnosed and mostly unrecognised as a health problem. But with the proliferation of factories making and using asbestos products and an import trade in asbestos building products booming, India has become a new frontier for what’s sure to be a dramatic, devastating health crisis.

Indian asbestos workers have little in the way of safety equipment and if they contract a respiratory illness like asbestosis or a cancer like mesothelioma few are paid compensation.

New formula would reduce Social Security increases (Robert O.)

Despite fierce opposition from seniors groups, the proposal is gaining momentum in part because it would let policymakers gradually cut benefits and increase taxes in a way that might not be readily apparent to most Americans. Changes at first would be small - the Social Security increase would be cut by just a few dollars in the first year.

Tax Team Checks On Modesto Businesses (Robert O.)

The visits are part of a California State Board of Equalization compliance crackdown that began three years ago. The show-us-your-permit teams move from one ZIP code to the next, seeking businesses that don't have the required permits or licenses.

More than 261,000 California businesses have been visited, and about 2 percent of them were found to be violating sales-tax and use-tax collection laws.

Jack Abramoff: The Lobbyist's Playbook (ES2)

Crooked lobbyist Jack Abramoff explains how he asserted his influence in Congress for years, and how such corruption continues today despite ethics reform. Lesley Stahl reports.

Financial Impacts of Reaching ‘Limits to Growth’ (Mike K.)

High oil prices lead to people to cut back on their demand for discretionary goods and employers to lay off unnecessary workers. These actions lead to constriction on economic growth. This issue seems to me to be the first stage of “Limits to Growth” as foretold by the 1972 book by that name. People who are looking for oil limit problems to start when oil supply actually starts declining may miss this connection.

Energy

Biofuels: Not The Savior We Hoped For (James S.)

First, note that the human industrial power scale is comparable to the photosynthetic scale. If you react by saying that 13 does not look much like 80, fair enough. But I’m impressed by the similarity in the exponent: both are within a factor of three of 3×1013 W! Of all the places the comparison could have ended up, it’s about the same order-of-magnitude.

Next, observe that humans comprise about 0.6% of the total biological activity on the planet. I oscillate between thinking that this makes us a massively dominant species (of the millions of species, for any one to account for nearly 1% is impressive) to thinking that this is a small number compared to what I sense in my human-dominated daily life. But I don’t see the vast oceans or rain forests every day.

Solan Shakeout Could Soon Reach China (ES2)

Polysilicon manufacturing has been growing at an annual rate usually reserved for another silicon product, computer chips. By the end of 2010, the world produced enough photovoltaic panels theoretically to power about four New York Cities. At about 42 gigawatts, that's 43 percent more solar capacity built than in 2009, which itself was a third higher than 2008.

Environment

U.S. Government Confirms Link Between Earthquakes and Hydraulic Fracturing (James S.)

According to the U.S. Army’s Rocky Mountain Arsenal website, the RMA drilled a deep well for disposing of the site’s liquid waste after the U.S. Environmental Protection Agency “concluded that this procedure is effective and protective of the environment.” According to the RMA, “The Rocky Mountain Arsenal deep injection well was constructed in 1961, and was drilled to a depth of 12,045 feet” and 165 million gallons of Basin F liquid waste, consisting of “very salty water that includes some metals, chlorides, wastewater and toxic organics” was injected into the well during 1962-1966.

Why was the process halted? “The Army discontinued use of the well in February 1966 because of the possibility that the fluid injection was “triggering earthquakes in the area,” according to the RMA.

All Those Oklahoma Earthquakes Over The Weekend Were Probably Caused By Fracking (Jason C.)

The practice of injecting water into deep rock formations causes earthquakes, both the U.S. Army and the U.S. Geological Survey have concluded.

White House Sidelines Christmas Tree 'Tax' (Phil H.)

The new program was set to go into effect Wednesday. According to the Agriculture Department announcement, the government would have imposed a 15-cent-per-tree charge on "producers and importers" of fresh Christmas trees, provided they sell or import more than 500 trees a year.

Article suggestions for the Daily Digest can be sent to [email protected]. 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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
heffe's picture
heffe
Status: Bronze Member (Offline)
Joined: Dec 26 2009
Posts: 95
Urine as a biofuel source

http://www.zeitnews.org/energy/pee-power-bristolian-scientists-make-breakthrough-in-using-urine-as-a-viable-power-source.html

with every human producing 2.5 liters of urine a day, equating to trillions of liters annually, this could be a very useful source of energy.

Mikey1052's picture
Mikey1052
Status: Bronze Member (Offline)
Joined: Dec 8 2008
Posts: 41
Obama Punts on Oil Pipeline...

The Obama administration plans to announce on Thursday it will explore a new route for a Canada-to-Texas oil pipeline, delaying a final approval beyond the 2012 U.S. election, sources briefed on the matter said.

The decision would be a victory for environmentalists, many of whom oppose the pipeline, and a setback for TransCanada Corp, whose $7 billion Keystone XL project is seen as the most important North American oil pipeline plan for decades.

 

One source familiar with the matter said that studying a new route for the pipeline would likely take 12-18 months, putting a final decision after President Barack Obama's bid for re-election on November 6, 2012.

 

If the administration explores a new route, "it's a huge victory, and it would probably be the biggest environmental gift that President Barack Obama has given us," said Tony Iallonardo, a spokesman at the National Wildlife Federation.

 

Some of Obama's liberal supporters have strongly opposed the project and delaying a decision could allow Obama to avoid antagonizing environmentalists disillusioned with his progress on climate change. However, it could also open up a line of attack from Republicans who could argue that a delay will slow job growth.

 

 

http://www.reuters.com/article/2011/11/10/us-usa-pipeline-idUSTRE7A64O920111110

 

 

 

Stan Robertson's picture
Stan Robertson
Status: Platinum Member (Offline)
Joined: Oct 7 2008
Posts: 651
OK Earthquakes Probably NOT Caused by Fracking

It is regrettable that some blogger's misrepresentation of something he read somewhere made its way into the headline of the Daily Digest. The goverment did NOT report that the recent Oklahoma earthquakes were linked to fracking. There have been a few cases for which earthquakes have been associated with injection of fluids into the earth. Quoting the government report "The largest and most widely known resulted from fluid injection at the Rocky Mountain Arsenal near Denver, Colorado. In 1967, an earthquake of magnitude 5.5 followed a series of smaller earthquakes. Injection had been discontinued at the site in the previous year once the link between the fluid injection and the earlier series of earthquakes was established.” and  "Austin Holland’s August 2011 report, “Examination of Possibly Induced Seismicity from Hydraulic Fracturing in the Eola Field, Garvin County, Oklahoma” Oklahoma Geological Survey OF1-2011, studied 43 earthquakes that occurred on 18 January, ranging in intensity from 1.0 to 2.8 M. . . . Our analysis showed that shortly after hydraulic fracturing began small earthquakes started occurring, and more than 50 were identified, of which 43 were large enough to be located.”

It is important to understand the circumstances here. First, quakes below magnitude 3 are microquakes that are hardly felt at all, though they can be detected with good seismometers. It has been known for decades that hydraulic fracturing activities can lubricate minor faults in the vicinity of a well and cause these microquakes. Not only are these not serious problems they are somewhat rare. It is the lubrication of faults by the frac fluids that allows slippage along the faults. It is not the energy deposited in the hydraulic fracturing process that is detected as a microquake.

A magnitude 5.5 quake is a different matter. The 1967 quakes in Colorado were the result of injecting fluids in the immediate vicinity of a major fault. The strata in which the fluids were injected conveyed the fluids directly into the fault system. It is unlikely that similar circumstances caused the recent magnitude 5.6 event in Oklahoma. The depth of the epicenter was 5 km, which is well below the 1.2-1.4 km depth of the deepest producing wells in the vicinity. There are intervening essentially impermeable strata which separate these depths. Unless evidence for frac activities in the immediate viciinity of the Wilzetta fault can be provided, it is highly unlikely that the Oklahoma earthquake was associated with drilling or production operations in Lincoln county.

james_knight_chaucer's picture
james_knight_chaucer
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 160
Urine as bio-fuel?

www.youtube.com/watch

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Bernanke: Fed has latitude to set inflation goal

"Federal Reserve policy makers "have considerable latitude" to choose its long-term inflation goal, Fed Chairman Ben Bernanke said Thursday. Bernanke did not elaborate on the remark. Some dovish Fed members believe the central bank should tolerate higher inflation for a period of time in order to help the economy recover to a stronger growth rate. Bernanke made his comment in a speech to soldiers at Fort Bliss, Texas. Bernanke said Congress has given the Fed two "marching orders": support job creation and control inflation. Bernanke said inflation "will remain reasonably close" to the objective of 2% "or a bit less." On the other hand, the Fed is "certainly falling short" of its goal of maximum employment, now somewhere between 5% and 6%."

"Deficit projected to shrink to $956 billion in fiscal 2012"
 

 

BOE Hints at More Stimulus

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1517
A small step toward prosecuting the fraud

Here's a start.  Better than nothing.

 www.rollingstone.com/politics/blogs/taibblog/finally-a-judge-stands-up-to-wall-street-20111110

plato1965's picture
plato1965
Status: Platinum Member (Offline)
Joined: Feb 18 2009
Posts: 615
Keep calm, carry on.

UK Treasury prepares for 'economic armageddon' if euro falls apart

 http://www.guardian.co.uk/world/2011/nov/10/uk-treasury-prepares-for-armageddon

 The euro crisis: slouching towards Bethlehem

 http://www.guardian.co.uk/commentisfree/2011/nov/10/eurozone-debt-breakup

 

Eurozone crisis: We're all dooomed! Here's why..

 http://www.theregister.co.uk/2011/11/10/were_all_doomed/

 

 

 <tinfoil>

 Wonder if Draghi will exclude 1/3 of the Euro nations... maybe on December the 8th..

 </tinfoil>

  http://en.wikipedia.org/wiki/Flag_of_Europe

 

 

 

 

 

 

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
not takin' the piss now are you?
james_knight_chaucer wrote:

www.youtube.com/watch

Long time since I saw that one!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments