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    Daily Digest 2/21 – Silver Lease Rates Skyrocket, Drilling In Libya Suspended Over Unrest, Water And The Arab World

    by DailyDigest

    Monday, February 21, 2011, 3:49 PM

  • Silver Lease Rates Skyrocketing
  • New Haven Line Has Second Highest Ridership Ever
  • Stratfor’s Geopolitical Intelligence Guidance For The Week Of February 20, 2011
  • Prove The Mayans Right: Address Structural Economic Problems With Chicanery 
  • Oil Majors Stall Libya Drilling, Withdraw Staff
  • BP Suspends Exploration as Libya Unrest Worsens; Eni Drops
  • As BP Prepares To Evacuate Staff From A Burning Libya, Commodities Are Exploding
  • Increased Costs For Wheat, Sugar, Gas Combined With Lower Wages Will Cause ‘Tsunami’ Of Living Costs
  • What Does The Arab World Do When Its Water Runs Out?

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Economy

Silver Lease Rates Skyrocketing (Claire H.)

All lease rates above 1%. Take a close look at the 30 day lease rate where it registers 1.2% and it is higher than the 60 and 6 months and 1 yr lease rate. What does this mean? Simple!!! There is no silver at any vault. When you have the lease rate at 1% and investment rate at .1% per annum, you are automatically in backwardation by a full .9% per annum. I smell trouble ahead.

New Haven Line Has Second Highest Ridership Ever (joemanc)

Metro-North’s New Haven Line ridership increased in 2010 to reach its second highest level ever in a continuing trend that officials believe is a sign of economic recovery for the region.

New Haven Line ridership grew 2.8 percent year over year according to railroad statistics, increasing from 36.3 million in 2009 to 37.2 million in 2010, with ridership growing every month year over year from April onward, according to the railroad.

Stratfor’s Geopolitical Intelligence Guidance For The Week Of February 20, 2011 (pinecarr)

As we pointed out earlier, the upcoming week will be quiet on economic and market events. What it, however, will be heavy on is revolutions, riots and the good old ultraviolence. Below is a useful primer from Stratfor for what is becoming an increasingly more complex geopolitical chess game, for the time being confined in the Maghreb, but soon spreading all across the Muslim crescent and soon thereafter into East Asia.

Prove The Mayans Right: Address Structural Economic Problems With Chicanery (pinecarr)

Seventy percent of our economy is driven from private sector employment:

Without consumers the economy is finished
Without jobs and with maxed out debt loads the consumer is finished
A fourth grader can connect these two dots and conclude: “It’s the jobs stupid.”

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Energy

Oil Majors Stall Libya Drilling, Withdraw Staff (Saxplayer00o1)

Royal Dutch Shell, whose operations in Libya are also limited to exploration, has temporarily relocated the dependents of expatriate staff outside the country, a spokesman for the Anglo-Dutch energy giant said, declining to comment further on operations.

BP Suspends Exploration as Libya Unrest Worsens; Eni Drops (Saxplayer00o1)

BP, which has no producing assets in the country, is evacuating families and non-essential staff, spokesman David Nicholas said today. Eni, the largest foreign producer in Libya, fell as much as 4.1 percent, the most since May.

As BP Prepares To Evacuate Staff From A Burning Libya, Commodities Are Exploding (pinecarr)

Is this one of those “who could have possibly seen it coming” moments? As events in Libya overnight spiralled out of control, with dozens if not hundreds killed, the parliament buildng in Tripoli on fire, and output at one of the country’s oil fields reported to have been stopped by a workers’ strike, BP has said it will soon begin evacuating some of its personnel from the 9th largest producer of oil. And just to complete the total chaos, Iran warships are now going to pass the Suez on Tuesday instead of today, to the full glory of a fully open US stock market. The result: gold over $1,400; silver over $33.50; Crude front month over $93; Brent over $105; etc.

Environment

Increased Costs For Wheat, Sugar, Gas Combined With Lower Wages Will Cause ‘Tsunami’ Of Living Costs (joemanc)

Fresh financial pain is on the way, with price hikes expected on everything from underwear to cereal. City merchants say they’ve held the line during the economic downturn, but now, because of the increased cost of cotton, wheat and other commodities, price increases are inevitable on almost everything we use.

What Does The Arab World Do When Its Water Runs Out? (SolidSwede)

For a region that expects populations to double to more than 600 million within 40 years, and climate change to raise temperatures, these structural problems are political dynamite and already destabilising countries, say the World Bank, the UN and many independent studies.

In recent reports they separately warn that the riots and demonstrations after the three major food-price rises of the last five years in north Africa and the Middle East might be just a taste of greater troubles to come unless countries start to share their natural resources, and reduce their profligate energy and water use.

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.”

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