Venezuela is the 11th largest oil producing country in the entire world, and it has just announced that it is going to stop using the petrodollar. Most Americans don’t even know what the petrodollar is, but for those of you that do understand what I am talking about, this should send a chill up your spine. The petrodollar is one of the key pillars of the global financial system, and it allows us to live a far higher standard of living than we actually deserve.
Pension Storm Warning (Nate)
This time is different are the four most dangerous words any economist or money manager can utter. We learn new things and invent new technologies. Players come and go. But in the big picture, this time is usually not fundamentally different, because fallible humans are still in charge. (Ken Rogoff and Carmen Reinhart wrote an important book called This Time Is Different on the 260-odd times that governments have defaulted on their debts; and on each occasion, up until the moment of collapse, investors kept telling themselves “This time is different.” It never was.)
The Most Bullish Oil Report This Year (michaelk)
Despite the huge uncertainties related to the two massive hurricanes that hit the U.S., the global oil market looks tighter than it has in a long time, according to a new report from the International Energy Agency.
Global oil supply fell in August for the first time in four months, the IEA said, a result of a dip in OPEC’s oil production, combined with refinery maintenance and sizable outages from Hurricane Harvey.
Take 2 Hikes and Call Me in the Morning (edelinski)
A growing trend in medicine has doctors prescribing visits to parks for their patients. A pediatrician named Robert Zarr at Unity Health Care in Washington, D.C., has worked with the National Park Service and other institutions to create DC Park Rx, an initiative that helps health care providers prescribe activity in outdoor spaces to patients.
Ash trees are some of North America's most prominent and valuable tree species. They are essential to the plant communities in the United States; are a key part of American forests; and provide habitat for many birds, squirrels, insects, and pollinating species such as butterflies.
Within just one generation, hatchery-born salmon can become drastically different from their counterparts in the wild, with hundreds of variations at the genetic level.
Looking specifically at the steelhead trout salmon, researchers at Oregon State University, in collaboration with the Oregon Department of Fisheries and Wildlife, found more than 700 genetic variations between farm-raised and wild salmon.
The great nutrient collapse (Northernlights)
Zooplankton are microscopic animals that float in the world’s oceans and lakes, and for food they rely on algae, which are essentially tiny plants. Scientists found that they could make algae grow faster by shining more light onto them—increasing the food supply for the zooplankton, which should have flourished. But it didn’t work out that way. When the researchers shined more light on the algae, the algae grew faster, and the tiny animals had lots and lots to eat—but at a certain point they started struggling to survive. This was a paradox. More food should lead to more growth. How could more algae be a problem?
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