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Daily Digest 4/8 - 16 Major Chains Closing Stores, Rare Goat-Hybrid Born on Irish Farm

Tuesday, April 8, 2014, 8:39 AM

Economy

16 major retail chains closing stores across America (Phil H.)

Ruby Tuesday announced plans to close 30 restaurants in January after its sales fell by 7.8%. The chain currently operates around 775 steakhouses across the US.

Federal Snipers Train Guns on Family For Filming Cattle (Nate)

Fears that the confrontation may turn violent and concerns that Bundy is drawing increased support from liberty activists and the local community prompted the feds to tape off two ridiculous “First Amendment Areas,” outside of which free speech in support of Bundy is banned. A sign placed inside the area reads “Welcome to Amerika – Wake Up” alongside a hammer and sickle logo.

When Bundy’s family members violated that rule yesterday in an attempt to peacefully document the cattle roundup, they were met with a barrage of loudspeaker warnings and four BLM snipers with their guns trained on the dissenters.

U.S. Navy 'game-changer': converting seawater into fuel (thebrewer)

"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," added Cullom.

"Basically, we've treated energy like air, something that's always there and that we don't worry about too much. But the reality is that we do have to worry about it.

Technological breakthrough? U.S. Navy says it can now convert seawater into fuel (Mike K.)

“For the first time we’ve been able to develop a technology to get CO2 and hydrogen from seawater simultaneously, that’s a big breakthrough,” she said, adding that the fuel “doesn’t look or smell very different.”

Secret Service launches probe of O.C. coin dealer Tulving Co. (Thomas C.)

The California Department of Business Oversight is leading the other investigation. The state agency would neither confirm nor deny the existence of a case, but a disgruntled Tulving client told the Register he had been contacted by the state agency.

More than 20 years ago, the Federal Trade Commission accused Tulving of overpricing rare coins and going back on return guarantees through another company, Hannes Tulving Rare Coin Investments, which was based in Newport Beach.

Cities to Carpoolers: Sharing Your Car is Illegal, We Will Seize Your Cars (Thomas C.)

Ridesharing -- also known as carpooling -- involves members of the public contacting each other via a smartphone or PC internet networking service and arranging to ferry each other to various destinations for fees. The practice in informal form is almost as old as the automobile itself, but in the digital age app-enabled ridesharing has seen an explosion in interest, threatening the commercial taxicab industry and the city officials who depend on that industry for revenue.

Geep, Geep! Rare Goat-Hybrid Born on Irish Farm (jdargis)

Rams have a set of 54 chromosomes bundling their DNA and sheep have a full set of 60. The genetic gap means most geeps come out stillborn, but every once in a while the math works out. One healthy hybrid born to a veterinarian in Botswana split the difference with a set of 57 chromosomes. Others geeps have popped out in Chile, Jamaica, Malta and Germany, where Lisa the geep earned coos from around the world.

A Mudslide, Foretold (Michael W.)

It is human nature, if not the American way, to look potential disaster in the face and prefer to see a bright and shining lie. The “taming” of this continent, in five centuries and change, required a mighty mustering of cognitive dissonance. As a result, most of us live with the danger of wildfire, earthquake, tornado, flooding, drought, hurricane or yet-to-be-defined and climate-change-influenced superstorm. A legacy of settlement is the delusion that large-scale manipulation of the natural world can be done without consequence.

Gold & Silver

Click to read the PM Daily Market Commentary: 4/7/14

Provided daily by the Peak Prosperity Gold & Silver Group

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."

13 Comments

thc0655's picture
thc0655
Status: Diamond Member (Offline)
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Posts: 1627
Even Gartman says get out of stocks!!

Even Gartman, the great cheer leader for the status quo and buying stocks, got spooked and now says get out of stocks. Go to cash.  The markets are going much lower.

http://www.cnbc.com/id/101561878

cmartenson's picture
cmartenson
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About that "game changer" Navy energy program

*sigh*

U.S. Navy 'game-changer': converting seawater into fuel

"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.

The level of science (or engineering, or numerically relevant) reporting in this country is dismal.

The process involves taking CO2 from seawater and combining it with hydrogen split from water.  These are hugely energy intensive processes.

There is zero chance, none, nada, zilch, zip, that this process produces more energy than it consumes.  In fact there is a 100% chance that it consumes more energy than it produces.

So where did the energy come from to run this process?  Unless you are on a nuclear powered ship, this is coming from some other fossil fuel.  At a loss.  Probably horrific too, like use two barrels of oil equivalent energy to make one.

The interesting part of this article, though, is that the military has scanned the world's energy situation and has decided that something as desperate as developing a process to make a liquid fuel out of seawater now makes sense.

That's a pretty telling admission that we can combine with our observation that all the oil majors are cutting CAPEX to strengthen the argument that we are very close to the peak of all oil, cheap or not.

 

 

saxplayer00o1's picture
saxplayer00o1
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earthwise's picture
earthwise
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What?!?!

You mean they can't turn seawater into gas for my car? Or lead into gold? I suppose your going to next tell us that there ain't no such thing as a free lunch? What a buzzkill.

thc0655's picture
thc0655
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Retiring SEC lawyer blasts SEC

Everyone already "knows" this, but it's nice to hear from an insider in a public forum.  Off with their heads!

http://mobile.bloomberg.com/news/2014-04-08/sec-goldman-lawyer-says-agen...

HughK's picture
HughK
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Energy literacy

Thanks, Chris, for the supposed 'game-changer' of converting seawater into hydrogen.  

It's a great example about how a little bit of energy literacy would go a long way.  In the comments section, I noticed a link to a 2012 BBC article on the same topic that did make some of the most essential points missed by the AFP article:

You take those components (CO2 and hydrogen), and use a catalytic process, for a gas to liquid type reaction,” she adds. The basics are similar to the descriptions of a process for converting water and air into petrol, that grabbed headlines last week.

If both sound too good to be true, then you would be right. There is a catch. According to the first law of thermodynamics, nothing comes for free. To get useful energy out, you need to put useful energy in to the system. It is like combustion in reverse. Energy is needed to break the water and the carbon dioxide down into constituent parts and then more energy – and time – is needed to form the hydrocarbon.

“We do have to have a power source to supply the electricity for the electrochemical process,” admits Dr Willauer. That could come from solar or – more likely - the nuclear reactors already onboard many ships.  

The system would also only have marginal environmental benefits. It would reduce the burden of moving fuel around, but that may be offset by the production process. And, in the end, it would still produce traditional fuel with its associated emissions when burnt.  For the Navy, this is more about convenience.

Cheers,

Hugh

Time2help's picture
Time2help
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Posts: 2839
.

The whole world has gone nuts.

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
cmartenson wrote: *sigh* U.S.
cmartenson wrote:

*sigh*

U.S. Navy 'game-changer': converting seawater into fuel

"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.

The level of science (or engineering, or numerically relevant) reporting in this country is dismal.

The process involves taking CO2 from seawater and combining it with hydrogen split from water.  These are hugely energy intensive processes.

There is zero chance, none, nada, zilch, zip, that this process produces more energy than it consumes.  In fact there is a 100% chance that it consumes more energy than it produces.

So where did the energy come from to run this process?  Unless you are on a nuclear powered ship, this is coming from some other fossil fuel.  At a loss.  Probably horrific too, like use two barrels of oil equivalent energy to make one.

The interesting part of this article, though, is that the military has scanned the world's energy situation and has decided that something as desperate as developing a process to make a liquid fuel out of seawater now makes sense.

That's a pretty telling admission that we can combine with our observation that all the oil majors are cutting CAPEX to strengthen the argument that we are very close to the peak of all oil, cheap or not.

 

 

 

Why wouldn't the Navy be investing in new tech nuke engines?  Or are they on the cutting edge already?

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
HughK wrote: Thanks, Chris,
HughK wrote:

Thanks, Chris, for the supposed 'game-changer' of converting seawater into hydrogen.  

It's a great example about how a little bit of energy literacy would go a long way.  In the comments section, I noticed a link to a 2012 BBC article on the same topic that did make some of the most essential points missed by the AFP article:

You take those components (CO2 and hydrogen), and use a catalytic process, for a gas to liquid type reaction,” she adds. The basics are similar to the descriptions of a process for converting water and air into petrol, that grabbed headlines last week.

If both sound too good to be true, then you would be right. There is a catch. According to the first law of thermodynamics, nothing comes for free. To get useful energy out, you need to put useful energy in to the system. It is like combustion in reverse. Energy is needed to break the water and the carbon dioxide down into constituent parts and then more energy – and time – is needed to form the hydrocarbon.

“We do have to have a power source to supply the electricity for the electrochemical process,” admits Dr Willauer. That could come from solar or – more likely - the nuclear reactors already onboard many ships.  

The system would also only have marginal environmental benefits. It would reduce the burden of moving fuel around, but that may be offset by the production process. And, in the end, it would still produce traditional fuel with its associated emissions when burnt.  For the Navy, this is more about convenience.

Cheers,

Hugh

Craig Venter gave up on converting algae into fuel over a year ago.  Exxon Mobil backed him.  Unless we build out nuke power there are too many people on this earth.  War will correct that.

james_knight_chaucer's picture
james_knight_chaucer
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 160
Oil from seawater

I wonder if they are using spare electricity from the nuclear powered vessels to electrolyse the sea water, and then using waste heat from them to work the Fischer-Tropsch process? That would be quite a neat trick.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Military deflection

"Grant us one miracle and we can explain the rest."

Science.

What a nice bit of deflection by the Navy. "Lookit here, we can turn water into wine. Look, Look. Here, No not over there. Those people are nutters.. Look over here."

Transmutation of Nuclear Waste – LENR SPAWAR Navy Patent

Source

Clever little monkeys.

It is commonly held that Military Intelligence is an oxymoron, but think about it for a while. If you were going to pay with your life for some error of judgment would you not reflect? Nothing clears the sinuses faster than having someone desperate to kill you.

Anyway, wasn't it Admiral Rickover who warned us about our present predicament way back in 1957?

ftealjr's picture
ftealjr
Status: Bronze Member (Offline)
Joined: Aug 19 2009
Posts: 33
Carbon?

Sea water would be mostly sodium chloride NaCl and water H2O, neither of which contain carbon.  I wonder where that is coming from.  Algae?

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 428
Navy SeaWater to Fuel and Peak-Oil

Here's a brief article on the chemical process:

http://www.scientificamerican.com/article/turning-carbon-dioxide-back-in...

They are using PM catalysts in a electrochemical cell bubbling CO2 gas to produce methanol.

Methanol can be converted to olefins (hydrocarbons) using the Fischer-Tropsch process (Old German Tech from the 1920s). But it does required hydrogen gas. which would requires lots of energy inputs to liberate H2 from Water as well as running the CO2 -> methanol process. I can't imagine this process producing sufficient fuel to run a ship since a plant capable of productiong 10s of barrels per day would probably need be the size of a small Oil refinery. Assuming the process is 80% efficient it would take about 2 MWh to produce 1 barrel of olefins. Its probably about 40% efficient by I am using the conversion rate of Water electrolysis for a quick estimate.

FWIW: We are already past the peak as most of the hydrocarbons, since World production minus the US is down and the US production is only up on LTO which is mostly condensate (very light hydrocarbons only suitible for gasoline and petrochemicals). Diesel can't be economically produced using LTO. The Market price for LTO is only about $71/bbl  where as the market prices for Crude is about $100/bbl. Refiners are also running into problems distilling LTO because the fracking fluids clog the distillation equipment.

I also think LTO (aka Shale Oil from Bakken, Eagle Ford) is probably a scam as its very probable that LTO extraction is a money loser as they are running up very large debts and the profit margins are close to zero:

http://www.ogj.com/articles/2014/03/financial-questions-seen-for-us-shal...

If you read the above article is very likely that the LTO bubble is going to pop soon.

I fear that with the CapEx spending cuts is that we may have a severe decline at some point. Note that CapEx cuts today probably do not impact production for a few years since CapEx is used to develop projects that take years before Oil can be sold on the market. Presuming Oil peaks in the next two years and Oil majors stop or cut investing in new projects to replace depletion, this could result in a drastic decline of production in the next 4 to 7 years.

 

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