Daily Digest

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Daily Digest 8/5 - Europeans Struggle To Pay Electric Bills, Summer Gas Prices Down

Tuesday, August 5, 2014, 8:58 AM

Economy

Turn On, Retweet, Tune Out (jdargis)

What exactly is going on in the attention economy that people have little room (or desire) for sustained empathy? Too many causes? Too far away? Certainly, the media bear blame; there's limited space in newspapers, in magazines, and on the nightly news, and even on the boundless Internet, journalists are always looking for the next story. Still, this is insufficient to explain what makes people care one minute -- and not the next. Something else is going on, and I asked several experts, including activists and academics, to explain what it is.

Gaza War Strains Relations Between U.S. and Israel (jdargis)

With public opinion in both Israel and the United States solidly behind the Israeli military’s campaign against Hamas, no outcry from Israel’s Arab neighbors, and unstinting support for Israel on Capitol Hill, President Obama has had few obvious levers to force Mr. Netanyahu to stop pounding targets in Gaza until he was ready to do it.

On Monday, the Israeli prime minister signaled that moment had come. Amid signs it was prepared to wind down the conflict unilaterally, Israel announced it would accept a 72-hour cease-fire, effective Tuesday, and send a delegation to Cairo to negotiate for a lasting end to the violence.

Here's Everything We Know About The 'Secret Serum' Used To Treat An American With Ebola (jdargis)

Although the Food and Drug Administration does allow experimental drugs to occasionally be distributed in life-threatening circumstances without approval under the expanded access or "compassionate use" conditions, it's not yet clear whether that approval was granted in this case or not.

A spokesperson for the FDA told Business Insider that federal law and FDA regulations prohibit them from commenting on specific products, as that information is considered confidential.

Focusing on G.M. Unit, U.S. Starts Civil Inquiry of Subprime Car Lending (jdargis)

In the inquiry, federal prosecutors are looking for potential violations of Financial Institutions Reform, Recovery, and Enforcement Act. The law, known as Firrea, was passed after the savings and loan scandals in the late 1980s, and has been used recently by the government in investigations of the big banks’ sale of shoddy mortgage-backed securities before the financial crisis.

Summer Gas Prices Down Despite Geopolitical Turmoil, Higher Demand (James S.)

The American Automobile Association (AAA) has reported that the average pump price of a gallon of gasoline was $3.52 at the end of July, the lowest since March. In fact, July prices dropped more than they have in six previous Julys. That’s not what analysts have been predicting. Although the U.S. Energy Information Agency (EIA) said July 24 in its weekly petroleum report that in the past two weeks, refineries took in record amounts of crude -- 16.8 million barrels per day, beating a 2005 record -- analysts say global demand also is rising, and refiners aren’t cutting the costs they charge oil companies, so they’ve been forecasting no drops in pump prices.

Europeans Struggle To Pay Their Electric Bills (Wendy SD)

A survey by a European retail group Kingfisher found that “homeowners in Europe are more worried about energy bills than paying the rent or mortgage,” reports the BBC. Kingfisher surveyed 17,000 Europeanh ouseholds and found that many families are worried they won’t be able to pay their soaring energy bills.

Marc Faber’s Outlook for Middle East, Oil, Gold Prices (jdargis)

“I’m still accumulating gold. I think eventually it will be much higher…It is possible that at some stage gold will be expropriated by our genius central bankers, but otherwise I think precious metals will likely be higher in a year, two, three years time than they are now.”

Amid Preservation Efforts, Farmland in the Hamptons Goes for Other Uses (jdargis)

“Even the protected parcels started selling for six figures, which might be cheap for some folks but is prohibitively expensive for farmers,” said John v.H. Halsey, president of the Peconic Land Trust, which has arranged hundreds of these deals. “It is especially frustrating for the public, who already spent money on land they thought they were protecting for farming to find out it’s turned into a gated compound.”

Gold & Silver

Click to read the PM Daily Market Commentary: 8/4/14

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4061
LesPhelps's picture
LesPhelps
Status: Platinum Member (Offline)
Joined: Apr 30 2009
Posts: 728
Europeans struggle to pay energy bills

If you are a US natural gas or electricity consumer, this is your future as well. When the US starts shipping LNG out, we begin competing with the world market for natural gas.  Europe and Japan pay more than three times what we do in the US for natural gas. The price in the US will rise to a level closer to the world average price.  We will, like the Europeans, be struggling to pay our energy bills in a few short years.

We will also have wasted 25% of the NG energy in the liquification process.  Since the US is a net importer already, we will have to import more to cover the LNG exports.

The only winners in this are the companies who own the gas.

 

 

Wendy S. Delmater's picture
Wendy S. Delmater
Status: Diamond Member (Offline)
Joined: Dec 13 2009
Posts: 1982
they are already struggling

After this last, tough winter's heating bills on top of essentially flat earnings, many Americans are already struggling with energy bills. There were even natural gas shortages.

However, if you read the whole article, the main reason cited for higher energy bills was the fees--in European's utility bills--to fund conversion to wind and solar energy. Which renewable energy sources, by the way, the article states are not making up the amount of power needed.

 

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