Daily Digest

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Daily Digest 1/15 - Carbon Pricing Coming To Ontario, Fracking Good; Coal Bad

Thursday, January 15, 2015, 11:09 AM

Economy

Obama Backs Government-Run Internet (jdargis)

Telecom and cable companies have been lobbying for the state laws, arguing that it's not fair for them to have to compete with government-owned Internet providers. The companies claim the city projects discourage private investment and are often expensive failures. House Republicans passed legislation last year to protect the state laws from FCC action.

There’s a blockchain for that! (jdargis)

There is a contingent on today’s Internet—a minority, perhaps, but influential—who believe that the industry took a wrong turn over the past decade. That an Internet dominated by a few big companies is an unhealthy one. That the centralized-computing paradigm—of privately owned data silos housed in giant server farms that harvest our personal data in order to sell ads—is one that needs to change.

Why the Swiss have just let their currency explode (Dana T.)

With due respect to the Swiss National Bank I don’t think any real transformation has taken place at all. What they are worrying about in reality is that as the European authorities appear to have little option but to push the euro down further. Do the Swiss really want to follow the euro down and down and down progressively cutting their international purchasing power? Not at all.

A List Of 97 Taxes Americans Pay Every Year (Time2Help)

Yet despite all of this oppressive taxation, our local governments, our state governments and our federal government are all absolutely drowning in debt.

When the federal income tax was originally introduced a little more than 100 years ago, most Americans were taxed at a rate of only 1 percent.

Carbon pricing coming to Ontario, strategy to be unveiled this year (jdargis)

“We’re looking at how we can transition Ontario to a low-carbon economy through initiatives such as setting a price on carbon … it will be real, efficient, effective and economically positive,” Mr. Murray, who will unveil his strategy this year, told The Globe and Mail. He said his plan will also include cleaner fuel standards and energy conservation measures.

Ignore What They Say: Cheap Oil Prices Do Not Benefit the Economy (Tyler K.)

As the trite saying goes, push on a balloon in one place and you create a bulge somewhere else. And that bulge, we are beginning to learn, is not sunshine and happiness for the U.S. economy, despite motorists’ savings.

Russia Just Pulled Itself Out Of The Petrodollar (David B.)

The problem was compounded by its own positive feedback loop: as the last few weeks vividly demonstrated, plunging oil would lead to a further liquidation in foreign reserves for the oil exporters who rushed to preserve their currencies, leading to even greater drops in oil as the viable producers rushed to pump out as much crude out of the ground as possible in a scramble to put the weakest producers out of business, and to crush marginal production. Call it Game Theory gone mad and on steroids.

Over a barrel? Falling oil prices and the environment (Terry)

Is the recent oil price crash good or bad for the environment? For years, environmentalists have been seeking carbon taxes and other measures to ratchet up oil prices to encourage us on to a clean-energy path. But some are now hailing the recent price crash as good for the environment, because it could fatally weaken big oil and its hold on the world's energy system. You could be forgiven for being confused.

Study: Fracking Good; Coal Bad (Marc H.)

The model developed by Christophe McGlade and his team takes into account known estimates of fossil fuel reserves in a number of different countries and regions, as well as the global warming potential of those reserves and the market forces that determine which reserves are the most cost-effective to exploit. The results, shown below, are what the model finds to be the most cost-effective distribution that stays within the 3.6-degree limit.

Is Keystone Still Viable Amid Low Oil Prices? (Evan K.)

On Monday the Keystone XL pipeline project crossed another hurdle when legislation approving construction of the proposed line to connect Canadian oil sands crude with Gulf Coast refineries was passed by the United States Senate. The bill sailed through 63 votes to 32 in the Senate, which is now in the hands of the Republicans following November mid-term elections, along with the House of Representatives, which passed the same Keystone legislation last week. With the bill well on its way to becoming law, it will up to President Obama to decide on whether or not to veto it, a decision he has held off for six years.

Senate to vote on whether climate change is happening (DennisC)

"Nobody is blocking any amendments except the senator from California who is making us burn 30 hours to begin to have this bill up and open for amendments," McConnell said, referring to Sen. Barbara Boxer (D-Calif.)

McConnell was referring to opposition from Boxer and Democrats to ending debate on a motion to proceed to the Keystone bill. A deal to end that debate was reached not long after his comments.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/14/15

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."

2 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
CM, what's your take?

On the Swiss Move today?

Also, I love Lagarde coming out and saying the move was "a bit of a surprise"......bullshit.....the IMF is a byproduct of the BIS, which controls all of the Western Central Banks.  They lie every time their lips are moving.

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