Daily Digest

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Daily Digest 3/14 - Oil Prices Drop As Production Hums, Locally Sourced Solutions

Saturday, March 14, 2015, 12:54 PM

Economy

Americans Prefer Their Solutions Locally Sourced (jdargis)

Americans want big, innovative ideas to come from local leaders, businesses, and institutions. Of those surveyed, 71 percent said that they'd prefer local institutions to try out new ideas, even if the outcome may be uncertain. A mere 20 percent said they preferred "tried and tested ideas and solutions," further highlighting the backlash against the status quo at the national level.

Watch Four Years of Oil Drilling Collapse in Seconds (Adam)

The crash in oil prices kicked off intense debate over when, and how, American producers would react. So far they’re still cranking out oil, but there are signs that a slowdown is looming. Chief among them: the record drop-off in drilling for new oil. The animation below shows the deployment of drilling rigs since 2011, culminating recently in a sudden collapse.

Lessons of History, Part 1: Not a Mention of Money (thc0655)

Most European kings and queens were related. Only “royals” were good enough to marry into the top strata of the aristocracy, so a relatively tiny pool of princes and princesses were traded back and forth like baseball cards. By the late 1800s Britain’s King George, Russia’s Czar Nicholas, and Germany’s Kaiser Wilhelm were all grandsons of Britain’s Queen Victoria. They and their families hung out together on massive yachts and 10,000 acre estates, shooting and drinking and generally behaving dickishly, as humans will when given unnatural amounts of power.

This is why it’s impossible for the Kremlin to lie about Putin’s weird disappearance (jdargis)

Putin was even momentarily found, in the vicinity of Ticino, Switzerland, where, a local tabloid announced, Putin’s gymnast girlfriend Alina Kabayeva had given birth. Hopes were dashed when Peskov appeared again to say that this too was untrue. By this time, he was reaching new levels of exasperation. “Yes. We’ve already said this a hundred times,” he barked at a Reuters reporter who called to ask if Putin were, in fact, in good health. “This isn’t funny any more.”

Oil Prices Drop as Production Hums Along Despite a Brimming Supply (jdargis)

The Department of Energy has proposed adding five million barrels of oil to the Strategic Petroleum Reserve. The purchase, which requires congressional approval, would be added in June and July. But 9.4 million barrels of oil a day are being produced in the United States. Kevin Book, an analyst with ClearView Energy Partners, said that the proposed purchase was not an attempt to support falling prices but instead “appears to derive from a statutory obligation.”

California has about one year of water left. Will you ration now? (Wendy SD)

Given the historic low temperatures and snowfalls that pummeled the eastern U.S. this winter, it might be easy to overlook how devastating California's winter was as well. As our “wet” season draws to a close, it is clear that the paltry rain and snowfall have done almost nothing to alleviate epic drought conditions. January was the driest in California since record-keeping began in 1895. Groundwater and snowpack levels are at all-time lows. We're not just up a creek without a paddle in California, we're losing the creek too.

Emissions by Makers of Energy Level Off (jdargis)

The agency has been collecting data on carbon dioxide emissions for 40 years, and in that time emissions have stalled or dropped only three times; each of those coincided with weakness in the global economy. The last instance was in 2009, during a global economic slump. In 2014, however, the economy expanded by about 3 percent.

Arctic Melt Brings More Persistent Heat Waves to U.S., Europe (jdargis)

Warming in the Arctic, where temperatures rise faster than elsewhere as ice caps melt, is believed to narrow temperature differences and thus weaken the jet stream -- air motion that’s important for shaping our weather, according to the scientists.

“The reduced day-to-day variability that we observed makes weather more persistent, resulting in heat extremes on monthly timescales,” Coumou said. “The risk of high-impact heat waves is likely to increase.”

Gold & Silver

Click to read the PM Daily Market Commentary: 3/12/15

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."

3 Comments

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Australia Getting hotter too.

Source

 

According to the World Meteorological Organisation (WMO), the average global temperature for 2014 was 0.57 degree warmer than the 1961-1990 average. In Australia, 2014 was ranked as the third warmest since records first began, dating back to 1910.

 

LesPhelps's picture
LesPhelps
Status: Platinum Member (Offline)
Joined: Apr 30 2009
Posts: 788
California has only one year of water left

This reminds me of San Paulo's shortage in December.  A city of 20 million people basically runs out of water and the news barely hits the global news net.

Now, California, not to mention Los Vegas, is 1 year away from running out of water and the only major news source to raise the issue is the LA Times.

For those of you who haven't thought about it yet, California's population is 39 million souls*.  That's over 10% of the US total population.  California also is the number one exporter of agricultural products, producing 11.6% of the US total.

Ok, perhaps I'm over reacting, but I'd think that US citizens and the US government should be at least as concerned about this as topics like Ukraine and ISIS.

I can't conceive of a solution that can be implemented in 1 year.  Yet, I suspect we, as a country, will wait a while longer before we get concerned about something as minor as food and water.

In my opinion, this needs to be one of the top or near top news stories.  It needs to be the top or one of the top government initiatives.

* Don't you find it interesting that when people are in a life threatening situation, it's the soul count that is mentioned?

phecksel's picture
phecksel
Status: Silver Member (Offline)
Joined: May 24 2010
Posts: 204
Normalcy bias

Normalcy bias

 

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