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    Erwin Zwart/The Ocean Cleanup

    Daily Digest 9/1 – Don’t Expect A Price Shock In Natural Gas, The Ocean Cleanup Is Starting

    by DailyDigest

    Saturday, September 1, 2018, 4:02 PM


The Incredible, Rage-Inducing Inside Story of America’s Student Debt Machine (Sparky1)

October 2017 should have been a moment for celebration for those sunk by debt—it was the first time a cohort of PSLF participants, after 10 years of payments, could be forgiven. Yet of almost 900,000 people who have submitted at least one payment to the PSLF program and FedLoan since 2012, the Education Department expects fewer than 1,000 to be forgiven by the end of its fiscal year. The reasons for these astonishingly dismal statistics are myriad, but one fact is clear: A decade after McIlvaine and scores of others began paying into the program, many are only barely closer to their goal of being debt-free. And some are even more in debt than when they started."

Shifty Airlines Just Took Another Toxic Step To Hide Their Nickel-and-Diming Fees From Customers (Sparky1)

This week, you see, they persuaded the government not to support a measure designed to look at how airlines distribute fare information. 

The airlines would prefer, you see, to stop their ever greater and more numerous nickel-and-diming fees from being featured on the websites where you actually do your comparison shopping.

Why DoesWells Fargo Still Exist? (edwardelinski)

To any reasonable person, Wells Fargo is a rolling disaster ― a ripoff, wrapped in a swindle, inside a bank. And yet to a Wall Street investor, Wells Fargo looks like a pretty good bet. The bank has reported a combined $39.1 billion in profit since the final quarter of 2016. The Federal Reserve recently approved a 10 percent increase in the quarterly dividend the bank pays to its shareholders, allowing those profits to be converted into straight cash for its owners.


Don’t Expect A Price Shock In Natural Gas (Michael S.)

A few months from now, the U.S. will enter the winter heating season with natural gas inventories at their lowest level in years, setting the stage for pricing risks, particularly if there is a cold snap. However, the tightness could be temporary as shale gas drillers continue to break production records.

A growing number of analysts are waking up to the fact that natural gas storage levels are “dangerously low.” For the week ending on August 17, U.S. gas stocks stood at 2,435 billion cubic feet (Bcf), or 684 Bcf below the same week in 2017 and 599 Bcf below the five-year average.

Australia’s Newest ‘Clean Energy’ Source (Michael S.)

Australia, one of the world’s top LNG exporters, has a bright future as a hydrogen economy. This is the conclusion of a brand new road map from the Commonwealth Scientific and Industrial Research Organization, a federal agency that has, with the road map, joined a growing interest in hydrogen as a renewable alternative to fossil fuels.


Human activity leaves diminished oceans (Paul D.)

Earth is a waterworld: 70% of it is swept by ocean. And 87% of this waterworld has been to some degree fouled, polluted, poisoned or impoverished by the actions of one almost entirely terrestrial mammal. That is, according to a new survey, only 13% of the high seas can now be considered true wilderness.

NASA Discovers Bubbling Lakes In The Remote Arctic – A Sign Of Global Warming (Paul D.)

This sudden release of greenhouse gases triggers a positive feedback as it adds to the overall warming. What the NASA funded researchers are finding is that this process can be quite abrupt, leading to a larger and quicker impact on global warming. Large releases of carbon are not decades or centuries away, they are rapidly happening today and with it, changing the landscape of the Arctic.

The Ocean Cleanup Is Starting, Aims To Cut Garbage Patch By 90% By 2040  (thc0655)

A massive cleanup of plastic in the seas will begin in the Pacific Ocean, by way of Alameda, California. The Ocean Cleanup, an effort that's been five years in the making, plans to launch its beta cleanup system, a 600-meter (almost 2,000-foot) long floater that can collect about five tons of ocean plastic per month.

Florida’s unusually long red tide is killing wildlife, tourism and businesses (jasonw)

A pair of toxic algal blooms striking the state at the same time is rare and, in this case, especially lethal. A red tide is a natural phenomenon that develops miles offshore before making its way to the coast, where it feeds on a variety of pollutants, including phosphorus and nitrogen from fertilizer, along with other runoff and wastewater.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/30/18

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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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