Daily Digest

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Daily Digest 10/10 - Energy Stocks Take A Plunge, The Cosmic History Of Earth's Water

Friday, October 10, 2014, 8:19 AM

Economy

Wall St. Closes Sharply Lower, With Energy Stocks Leading the Plunge (jdargis)

The price of oil plunged as concerns mount about slowing global economic growth while oil production remains high. Crude oil for November delivery fell $1.54, or 1.8 percent, to $85.77 a barrel on the New York Mercantile Exchange, a third straight decline of more than 1.5 percent. Oil is now 20 percent below its 2014 peak of $107.26 a barrel, reached in late June. Brent crude, an international benchmark used to price oil used by many American refineries, fell $1.33, or 1.5 percent, to $90.05 a barrel in London, at one point slipping below $90 for the first time since June 2012.

Sluggish Global Outlook Ripples in Markets (jdargis)

The United States has been one of the few bright spots in the global economy. A new report on unemployment claims released Thursday bolstered recent hope that the job market is continuing to improve, albeit unevenly.

Chinese Authorities Make Arrests in Attempt to Prevent Pro-Democracy Campaigns on Mainland (jdargis)

Tensions are likely to remain high. On Thursday, Chinese activists on Twitter began circulating a call to converge on Tiananmen Square this weekend with umbrellas, the ubiquitous accessory and protest symbol adopted by the Hong Kong protesters.

Jim Grant: Gold is the anti-debt monetary asset (Herman J.)

“It seems to me that we’d be much better off with interest rates that were discovered in the marketplace rather than imposed from on high. You know? Kind of free-range, organic interest rates than than these supermarket hot house kinds the Fed has given us.”

With Ebola’s Arrival at Nebraska Center, It’s No Longer a Drill (jdargis)

The Nebraska Biocontainment Patient Care Unit, conceived of soon after the Sept. 11 attacks as a bulwark against bioterrorism, is now at the forefront of the nation’s response to Ebola. Should there be an actual American outbreak, the center is the largest of four units around the country that have been specially equipped to respond, and the only one designated for the general public. The others are at the National Institutes of Health in Bethesda, Md., Emory University Hospital in Atlanta and St. Patrick Hospital in Missoula, Mont.

Wal-Mart cuts health benefits for 30,000 part-timers (jdargis)

"This year, the expenses were significant and led us to make some tough decisions as we begin our annual enrollment," wrote Wal-Mart executive Sally Welborn in a blog post.

In August, the company said the increased enrollment led to a $500 million jump in health care costs compared to last year.

Tiny Gasoline Drips Can Create Big Problems (James S.)

You know those tiny drops of gasoline that tend to escape from the pump as you start or finish getting gas? They can actually add up to a big problem for human health and the environment. That’s the conclusion of a new study by researchers at the Johns Hopkins Bloomberg School of Public Health. Their report in the Journal of Contaminant Hydrology says that all those gasoline drips, over time, can cause lasting damage to nearby soil and groundwater.

The Cosmic History Of Earth's Water (jdargis)

Astronomers estimate in Science that 30 to 50 percent of the water on Earth—and throughout the solar system—is older than the sun. The video above follows the research back more than 4.6 billion years to examine the cosmic conditions when the sun was formed.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/9/14

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."

8 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Quercus bicolor's picture
Quercus bicolor
Status: Gold Member (Offline)
Joined: Mar 19 2008
Posts: 456
CA Aquifer contamination story ignored by mainstream media so fa
saxplayer00o1 wrote:

Headlines:

  1. California aquifers contaminated with billions of gallons of fracking wastewater

And the only commercial news outlet of any type reporting on this story is Yuba net an online newspaper format outlet in Nevada City, CA.  Not one commercial TV station or network, not one CA newspaper.  Maybe they will report over the next few days or are they nervous about upsetting their sponsors?

 

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5570
Aquifer contamination by fracking
Quercus bicolor wrote:
saxplayer00o1 wrote:

Headlines:

  1. California aquifers contaminated with billions of gallons of fracking wastewater

And the only commercial news outlet of any type reporting on this story is Yuba net an online newspaper format outlet in Nevada City, CA.  Not one commercial TV station or network, not one CA newspaper.  Maybe they will report over the next few days or are they nervous about upsetting their sponsors?

Well, that's certifiably awful.  Reading the actual complaint it's quite specific in terms of exactly what these companies did to violate the various laws and pollute the aquifer...things like not conducting routine integrity checks and monitoring the injection pressures...all very standard things.

Here's a local CA paper covering the suit:  http://www.bakersfieldcalifornian.com/business/kern-gusher/x167883935/Farmer-lawsuit-blames-crop-loss-on-oil-companies-waste-injections

But I would think that such a major thing as polluting an entire aquifer system would be especially big news.  It really should be....

I'm very sorry for the people depending on that water.

AKGrannyWGrit's picture
AKGrannyWGrit
Status: Gold Member (Offline)
Joined: Feb 6 2011
Posts: 433
Nebraska Center

Wow 10 beds in the unit. Not sure if we should laugh or cry. Guess I will hope there are never more than 10 that need to be there.

If people start "socially distancing" themselves that will have an impact on the economy.  I have decided to skip the gym for a while and exercise at home, (I am a germaphobe anyway and wear gloves when I go) suspect people will think twice about their activities as well.

Looking forward to Chris's eventual article on the subject.

AK Granny

Quercus bicolor's picture
Quercus bicolor
Status: Gold Member (Offline)
Joined: Mar 19 2008
Posts: 456
Aquifer story research method

For the record, I searched using the title of the article in the RT story - both with Google and DuckDuckGo - an alternative search engine that promises not to track you or customize search responses to your profile.  I then looked at the top 3 pages of listings for each search.

Of course google also came up with this ironic ad at the bottom of page 1, given the search terms I used.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
S&P strips Finland of AAA rating, cites weak outlook

S&P strips Finland of AAA rating, cites weak outlook

james_knight_chaucer's picture
james_knight_chaucer
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 160
Tiny Gasoline Drips Can Create Big Problems

You guys know how to avoid losing a few drops of fuel when you take the nozzle out of your filler, don't you?

Turn the nozzle upside down before removing it. Give it a little shake while upside down, and you won't lose a drop.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2768
Last few drops
james_knight_chaucer wrote:

You guys know how to avoid losing a few drops of fuel when you take the nozzle out of your filler, don't you?

Turn the nozzle upside down before removing it. Give it a little shake while upside down, and you won't lose a drop.

Or you could just sip the last few drops.  Gas smells goooood.

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