So Bad It’s Good: Surviving 2014 (Kevin J.)
We asked some of the best investors in the precious metals/resources sector what they are thankful for this year.
“Marin Katusa: I am grateful for the current correction in the resources area. It is what we’ve been waiting for. We have been saying to stay in cash for a while, be very patient, we’re going to have a correction.”
“John Kaiser: Going forward, investors in the resource sector will only look smart for the right reasons.”
“David Morgan: As I say at the end of The Morgan Report every month, “health above wealth, and wisdom above knowledge.” As always, I am grateful to be alive and surrounded by wonderful people.”
Grandmaster Putin’s Golden Trap (pinecarr)
Not so long ago, British scientists have successfully come to the same conclusion, as was published in the Conclusion of the U.S. Geological survey a few years ago. Namely: Europe will not be able to survive without energy supply from Russia. Translated from English to any other language in the world it means: “The world will not be able to survive if oil and gas from Russia is subtracted from the global balance of energy supply”.
U.S. General Philip Breedlove’s comments late on Wednesday came amid fears in Kiev that Russian-backed rebels will try to grab more land in eastern Ukraine to establish a land corridor to Crimea, which was annexed by Russia in March.
“We are very concerned with the militarisation of Crimea,” Breedlove said, following meetings with Ukraine’s top political and military leaders in Kiev.
Oil tumbled into a bear market this year as the U.S. pumped the most in more than three decades and conflict in the Middle East and Ukraine failed to disrupt supply. While OPEC’s 30-million-barrel limit has been in place since 2012, the group actually produced almost 1 million barrels more last month, data compiled by Bloomberg show.
“OPEC has chosen to abdicate its role as a swing producer, leaving it to the market to decide what the oil price should be,” Harry Tchilinguirian, head of commodity markets at BNP Paribas SA in London, said today by phone. “It wouldn’t be surprising if Brent starts testing $70.”
he same surge was visible on bulliondesk.com, as the first chart shows. Some 20 minutes later, the price was “normalized” again at the levels before the “glitch” as evidenced by the second chart. Here again, the blip was not erased or corrected from the chart afterwards.
Google Gives Up On Renewables (Evan K.)
The question of whether renewable energy can be made to work has been discussed at length on this site, and while opinions remain divided I don’t remember ever seeing such a negative assessment from commenters on the – for want of a better word – “green” side of the fence. This is what makes the Google project interesting, because the people who shut it down – Google management – were of a strongly green persuasion and the people who ran it were too.
With winter approaching, the piles of coal at utility yards are running well below average, and several utilities are pressuring rail companies to allow more coal trains through. The problem is the traffic jam on railways across the country. A bumper crop for U.S. grain has led to a surge in shipments, with farmers shipping 15% more grain so far in 2014 compared to a year earlier. The story is similar with oil. Shipments of oil by rail – owing to a dearth of pipeline capacity – are up more than 13% this year. But coal still makes up the largest share of commodity-driven rail activity, and about two-thirds of all coal burned in American power plants is shipped by rail.
“It’s a huge milestone for us,” said Vice Adm. Philip Cullom. “We are in very challenging times where we really do have to think in pretty innovative ways to look at how we create energy, how we value energy and how we consume it. We need to challenge the results of the assumptions that are the result of the last six decades of constant access to cheap, unlimited amounts of fuel.”
The breakthrough came after scientists developed a way to extract carbon dioxide and hydrogen gas from seawater. The gasses are then turned into a fuel by a gas-to-liquids process with the help of catalytic converters.
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