Daily Digest

Image by Claudio Schwartz, Flickr Creative Commons

Daily Digest 11/20 - Good News Friday: Energy Storage Tech To Compete With Grid, The Value Of Fish Pee

Friday, November 20, 2015, 11:53 AM

This is Good News Friday, where we find some good economic, energy, and environmental news and share it with PP readers. Please send any positive news to [email protected] with subject header "Good News Friday." We will save and post weekly. Enjoy!

Economy

No, Obama’s Clean Power Plan won’t raise your electric bills, no matter what conservatives say (jdargis)

Public Citizen’s report explains why: The Clean Power Plan incentivizes states and utilities to adopt energy efficiency programs, such as ones to better insulate homes so they require less heating and air-conditioning. And history has shown that when prices of energy go up, the market tends to respond by shifting to more efficient products. People buy more fuel-efficient cars when gas prices are high, for example, so, under the CPP, they may buy more efficient appliances and gadgets.

We Just Saw the Birth of a New Planet for the First Time (jdargis)

We've been finding planets beyond our solar system for two decades now, but there are good reasons why it's taken so long to find the first forming world. For one thing, Sallum says, planets spend only a brief period of their long lives in formation. Simply looking at the the odds, "it's unlikely that you'll come across a planet when it's still forming," she says.

This Is How Gold Acted During Past Rising Rate Cycles (Taki T.)

Contrary to the ‘pundits’ and ‘writers’ who make statements that the crowd wants to hear, we underpin our investigation based on historic facts and figures. In particular, we analyzed gold’s reaction after interest rate hikes in the last decades (as of 1972, when gold started to trade freely).

Taking an inventory of all the water stored under ground (jdargis)

The “age” of the groundwater coming out of those wells might sound like a weird thing to concern yourself with, since the atoms in the molecules have obviously all been around about as long as the Earth has. But some groundwater was rainwater that seeped through the ground just last year, and some groundwater has been underground for over a million years.

Local groundwater studies may look into age, but no one has ever tried to put together a global picture because, well, it’s really hard to do. A new study led by the University of Victoria’s Tom Gleeson takes a whack at it, though, and shows us just how little of our groundwater is less than 100 years old.

Retired Coal Plant Gets New Life As Battery Based Energy Storage System (Michael W.)

Improving the reliability and economic efficiency of the electric grid provides a unique service to grid operators. As customer demand fluctuates, accurate and rapid-response energy storage can instantaneously absorb excess energy from the grid or release energy in seconds — as opposed to a power plant that could take 10 minutes or more to ramp up.

LG Chem delivered the project’s energy storage operating system, comprised of advanced lithium-ion batteries.

Energy Storage Tech Finally Starting To Compete With The Grid (Tom K.)

To be sure, there is still a ways to go before battery storage can compete on a mass scale. But Lazard finds that energy storage is actually a preferred option already in a few scenarios, such as replacing the need for major new transmission lines, or for circumstances where microgrids are needed. Lazard conducted its first levelized cost of energy storage. The analysis is complicated because storage can be valued in so many different ways. Energy storage not only can provide electricity during downtimes, but it can obviate the need to build new power plants. Or it can increase the reliability of the grid. These aspects make it difficult to come up with concrete cost figures, but Lazard lays out a range of cost scenarios. The bottom line is that energy storage is rapidly becoming cost-competitive.

The Value of Fish Pee (jdargis)

At the Cape Eleuthera Institute in the Bahamas, Côté and her students study a number of tiny patch reefs: dome-shaped pockets of coral in a big sandy basin. For the past eight years in these cerulean blue Bahamian waters, they have studied the effects of invasive lionfish. Côté’s team suspects that these venomous predators not only nibble down native fish numbers, but also affect the net influx of fish urine, a phenomenon with trickle-down effects such as reduced fertilization of algae and seagrass, important food sources for herbivorous fish.

What Is This Weird Weed, and Why Are Farmers and Health Nuts So Into It? (jdargis)

The EU this month awarded corn gromwell the status of “Novel Food,” a designation to let consumers know that this might be a new thing, but it’s safe and approved for consumption. In Scotland, reports the site Scotsman, more than 30 farmers have begun farming corn gromwell, seeing it as a possible new wonderfood especially for vegetarians or those who don’t eat seafood for whatever reason. The plant will probably be marketed under the also-not-very-good name of Ahiflower, so we predict you’ll start seeing Ahiflower seeds and Ahiflower oil in supermarkets soon.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/19/15

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."

12 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4169
Draghi Echoing 2012 Pledge Pushes Short Yields to Record Lows

Draghi Echoing 2012 Pledge Pushes Short Yields to Record Lows

Bloomberg-4 hours ago
That echoed words Draghi used at the height of the sovereign-debt crisis. ECB officials “will do what we must to raise inflation as quickly as possible,” he said ...
 
Rising Rates Pose Challenge to Health Law
Wall Street Journal - 21 hours ago

Many people signing up for 2016 health policies under the Affordable Care Act face higher ...

 

 

China has S$1.7 trillion Ponzi problem as debt piles up

TODAYonline - ‎2 hours ago‎
HONG KONG — Chinese borrowers are taking on record amounts of debt to repay interest on their existing obligations, raising the risk of defaults and adding pressure on policy makers to keep financing costs low. The amount of loans, bonds and shadow ...

Mortgages Lift Household Debt To 5-Year High, New York Fed Says

Investor's Business Daily - ‎17 hours ago‎
Household debt rose by 1.8%, or $212 billion, in the third quarter to $12.07 trillion, the most since the first quarter of 2010, according to the New York Fed's quarterly report on household debt and credit. The data chimed with other encouraging ...

US Treasury to Sell $157 Billion in Debt

Wall Street Journal-20 hours ago
The U.S. Treasury Department will auction $157 billion in securities next week, comprising $90 billion in new debt and $67 billion in previously sold debt. Details ...

Illinois: $7 billion in overdue bills and pension debt more than $110 ...

Madison County Record-20 hours ago

Overdue bills top $7 billion and long-term public pension debt is more than $110 billion. This is debt that's being left for future generations to repay. No private ..

Municipalities Pushing Out Payments Spur Balloon Debt Resurgence

Bloomberg-1 hour ago
Use of the debt, also known as zero-coupon bonds, had been declining since coming ... Zero-coupon debt accounts for about $253 billion of the outstanding ...

Student Loan Investors Have a $60 Billion Problem on Their Hands

Bloomberg-1 hour ago
More than $60 billion in bonds backed by U.S. student debt are likely to be affected if Fitch Ratings adopts new criteria for the securities, Deutsche Bank AG ...

In blow to Osborne, Britain has worst October deficit since 2009

Chicago Tribune - ‎1 hour ago‎
Commitments to increase spending on security in the wake of the Paris attacks and plow billions into infrastructure will come against a backdrop of further cuts to government departments as Osborne seeks to deliver on a vow to return Britain to surplus ...

Ottawa falls into $3-billion deficit in first Liberal fiscal update

The Globe and Mail - ‎53 minutes ago‎
A deteriorating economy has scuttled projections of a balanced budget in this fiscal year, putting federal books $3-billion in the red for 2015-16 even before the new Liberal government begins to act on some of its ambitious spending plans. In his ...

India Proposes $15 Billion Salary Boost as Deficit at Risk

Bloomberg - ‎12 hours ago‎
A panel appointed by India's finance ministry recommended a 23.55 percent increase in the salaries and allowances of federal government employees, a move that may boost consumption in Asia's third-largest economy and derail plans to curb the region's ...

Achieving fiscal deficit target of 3.5% a challenge: Citi

Hindu Business Line - ‎7 hours ago‎
The central government's target to bring down fiscal deficit to 3.5 per cent in 2016—17 is likely to become even more challenging, considering the rise in wage expenditure, a Citigroup report says. “Considering the rise in wage expenditure by 0.5 per ...

NHS in 'unprecedented financial meltdown' as deficit hits £1.6bn in 6 months

Daily Mail - ‎1 hour ago‎
NHS trusts in England have racked up a deficit of £1.6 billion in the first six months of the financial year - the worst on record. The official figures for April to September mark the half-way mark of the 2015-16 financial year but is already double ...

Scranton School District 2016 budget includes $18 million deficit

Scranton Times-Tribune-14 hours ago
With uncertainty about state funding and increases to special education, pension and health care costs, the Scranton School District faces a 2016 preliminary ...

Ky. retirement system faces $19.6B shortfall

The Courier-Journal-18 hours ago
According to numbers from a draft audit report Thursday, Kentucky Retirement Systems now faces $19.6 billion unfunded liabilities for all of its pension and ...

Pension for most state workers falls to 19 percent funded

Lexington Herald Leader-18 hours ago
It's estimated that fully funding pensions will cost $786 million from the state's General Fund next year, an increase of $124 million over what the state paid this ...

Cook County, Illinois, pension plan could be challenged: Fitch

Reuters-19 hours ago
Cook County, like the state of Illinois, Chicago, and the Chicago Public Schools, has been struggling with a big unfunded pension liability and limited ability to ...

Report: Weak market hits New Mexico pension funds

Washington Times-14 minutes ago
Report: Weak market hits New Mexico pension funds ... state and local government workers in New Mexico are facing more than $11 billion in unfunded liability.

Budget pressures forcing schools in England to cut staff, survey finds

The Guardian-7 hours ago
... were prepared to make cuts in teachers and support staff as a result of rising tax and pension costs colliding with the government's freeze on school funding.

U.S. Steel to cut 3 HMOs for retirees; premiums could soar if deal not ...

Tribune-Review-11 hours ago
The company is trying to reduce costs as it faces financial pressure from falling ... said in August that it would freeze pension benefits for nonunion workers at the ...

China police swoop over $125bn in illegal cash transfers

Financial Times-3 hours ago
Chinese police have arrested hundreds of people suspected of running ... said illegal flows of money out of the country have not only impacted China's foreign ...

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1632
Fed to hold expedited meeting Monday Nov. 23

http://www.federalreserve.gov/aboutthefed/boardmeetings/20151123advexp.htm

Hmmm.  Interesting.  Any of you out there know how often this happens, and when it does how often it's on a Monday, and in a week with a major holiday?

If POTUS and/or Secretary of the Treasury were to call a press meeting on Sunday I'd be hyper alert for a Major Announcement: bank holiday, currency devaluation, ban on gold trading/possession, etc. They have to catch us off-guard for these kinds of maneuvers to have the intended effects, and this Sunday/Monday sure would catch most people unready.  I'm ready, though if I was 100% certain one of these moves would be made I wouldn't leave all three of my nickels in the bank over the weekend and would use it to buy gold.  As it is, I'm just mildly suspicious and will rely on my previous preparations to carry the day if they pull a quick one.  All this would be much easier if I was among the inner circle and could trade in advance with legal impunity...

"Welcome to the Hunger Games. And may the odds be ever in your favor."

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Passing 400 ppm CO2 mark - Climate Scientists comment

Do You Think This Milestone Will Spur Action On Climate Change?

Julienne Stroeve, research scientist at the National Snow and Ice Data Center: “Doubtful. Any action on climate change will be driven by economics; sadly that's the way the world currently works. Unless it's economically viable to reduce CO2 emissions and turn to renewables, it will not happen unless there is money to make.”

http://www.climatecentral.org/news/co2-400-ppm-scientists-meaning-19713

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2840
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4169
$18.718 Trillion

 

 

The Daily History of the Debt Results

Historical returns from 11/01/2015 through 11/19/2015

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
10/30/2015 13,060,656,874,967.53 5,092,324,810,779.99 18,152,981,685,747.52
11/02/2015 13,259,598,054,673.03 5,232,493,066,160.96 18,492,091,120,833.99
11/03/2015 13,304,633,454,176.57 5,227,704,637,534.91 18,532,338,091,711.48
11/04/2015 13,304,149,781,522.19 5,228,704,601,299.55 18,532,854,382,821.74
11/05/2015 13,378,296,644,134.99 5,231,503,426,193.74 18,609,800,070,328.73
11/06/2015 13,378,216,906,933.97 5,231,637,478,501.25 18,609,854,385,435.22
11/09/2015 13,377,810,384,459.45 5,236,958,832,253.39 18,614,769,216,712.84
11/10/2015 13,378,011,403,562.54 5,227,381,025,379.64 18,605,392,428,942.18
11/12/2015 13,422,684,032,364.47 5,226,340,763,474.31 18,649,024,795,838.78
11/13/2015 13,422,581,915,969.67 5,230,925,444,603.77 18,653,507,360,573.44
11/16/2015 13,425,314,364,061.11 5,235,175,789,217.14 18,660,490,153,278.25
11/17/2015 13,425,228,384,871.25 5,244,785,636,642.50 18,670,014,021,513.75
11/18/2015 13,425,424,978,902.16 5,232,907,291,279.17 18,658,332,270,181.33
11/19/2015 13,486,033,195,851.99 5,232,175,397,988.78 18,718,208,593,840.77

 

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 854
No, not Permian Redux

if you want a Permian Redux, a large asteroid slams into the mantle at an oblique angle near iceland, and knocks one of four uranium-laden calcium bergs (in the mantle) towards the center of the collection. The whole mass goes super-critical, and the blast out the center is enough to create shock waves that trigger a similar blast at Hawaii. In addition to the blasts creating permanent lightweight plates the size and shape of the hole made, (with like-shaped scars in the land filled with kimberlites), there is a 950-mi radius chip-shapped arc of kimberlite volcanic dikes created around iceland, and an 850-mi radius circular ring of kimberlite volcanic dikes around Hawaii.

The pair of blasts rocks the Earth's orbit enough that the blasted material does not come down: it stays in orbit and forms a tiny sister-moon. That sister moon later splashes itself across the Moon, causing scientists to conclude that the moon is almost entirely mantle material, without a significant asteroidal component. The pair of blasts also shatters the earth's crust enough to initiate an ocean that continues opening for the next 300 million years. The nuclear contamination of the blasts dopes the results of Pb-Pb dating, making the coming fungal bloom look like it happened over several million years, with the supposedly oldest rock being near the center of the blast. The conflagration sets off fires worldwide, and results in an extreme acidification event, which dissolves the shells of many of the sea creatures, kills most of the species outright, and so greatly reduces the lifespan of the surviving species, that many adult features are forever lost, and baby features evolve to different purposes.

No, I don't think it's Permian Redux. I think this one is similar. Now, if those plans to get an asteroid into orbit go through... I might start to worry. Really worry.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2840
Coming Soon...Sell-Sell-Sell

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 588
Are we passing gas or sinking it?

Unfortunately, mainly due to their size, the oceans are going to be the expected sink for CO2 over the coming decades. Or it could be quicker! Matt Damon; you should be so lucky!10157247_10152046905831274_1712818783_n.jpg?oh=010a08472863cc868f68cabec51eabef&oe=56B60733

 

 

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2247
Things that make you go "huh"!

Yep, that's interesting thc0655.  Makes you wonder!  Thanks also for the heads-up; I hadn't read about the expedited Fed meeting yet.

Edit: I checked the link quickly; could "expedited meeting" just means they want to get a meeting over very quickly (so they can take off for the Holiday)? 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Winner Takes All.

Now, if those plans to get an asteroid into orbit go through... I might start to worry. Really worry.

Would you be less worried about trapping them in le Grange points 4 and 5? 

Whoever colonises those two will control the keys to the Cosmos.  Everyone else will be an also-ran.

Doug's picture
Doug
Status: Diamond Member (Online)
Joined: Oct 1 2008
Posts: 3176
.25 o/o rate hike

Ho hum

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1632
Another mainstream "ban cash" trial balloon

http://www.bloombergview.com/articles/2015-11-20/bitcoin-is-better-than-cash-for-keeping-track-of-terrorists

The sky seems to be filling with these "ban cash" trial balloons from mainstream media and "very important persons."  All we need now is an official denial from the Treasury Secretary or POTUS, and we'll know banning cash will happen in the next few days.

This writer says governments shouldn't ban Bitcoin because terrorists aren't using it. He says they're using cash, in particular US $100 and $50 bills even in Europe and the Middle East.  This tells me governments can already track Bitcoin, so they don't want to ban it and lose that aspect of their surveillance capabilities.

The writer has an interesting take on alternatives to official currencies:

Cash use is shrinking in the developed world, anyway. So perhaps attempts to cut off terrorist funding will usher in a cashless financial system earlier than it would have developed by itself. It's important, though, to give people alternatives, perhaps in the form of virtual currencies. Cracking down on them is not going to be helpful, and it won't hurt terrorists as much as a move away from cash would. 

I wonder if Mr. Bershidsky would consider gold and silver acceptable legal alternatives to "official" money.  I seriously doubt it!

And perhaps the best part of this article is not even part of the actual article. It's the disclaimer:

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Yeah, right!!  wink

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments