Dec 312014
 
On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970’s, when Henry Kissenger forged a trade agreement with the Royal house of Saud to sell oil using only U.S. dollars, China announced its intention to bypass the dollar for global oil customers and began selling the commodity using their own currency. Lindsey Williams: “The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your dinner table more than you can possibly imagine.” “On Thursday, Sept. 6… just a few days ago, China made the official announcement. China said on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready, and as of that day, Thursday, Sept. 6, any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar. – Interview with Natty Bumpo on the Just Measures Radio network, Sept. 11 This announcement by China is one of the most significant sea changes in the global economic and monetary systems, but was barely reported on due to its announcement taking place during the Democratic convention last week. The ramifications of this new action are vast, and could very well be the catalyst that brings down the dollar as the global reserve currency, and change the entire landscape of how the world purchases energy. Ironically, since Sept. 6, the U.S. dollar has fallen from 81.467 on the index to today’s price of 79.73. While analysts will focus on actions taking place in the Eurozone, and expected easing signals from the Federal Reserve on Thursday regarding the fall of the dollar, it is not coincidence that the dollar began to lose strength on the very day of China’s announcement. Since China is not a natural oil producing nation, the question most people will ask is how will the Asian economic power get enough oil to affect dollar hegemony? That question was also answered by Lindsey Williams when he pointed out a new trade agreement that was signed (more…)
Dec 162014
 
12/16/2014 BAGHDAD / Obelisk: Oil prices fell again to the lowest level since May 2009 after comments seen as discouraging officials Organization of Petroleum Exporting Countries (OPEC ). The price of a barrel of crude lost the reference light “Sweet Light Krod” January delivery to $ 1.90 in the New York market (Nymex) to reach US $ 55.91, the lowest price since the beginning of May 2009 . The analyst said Carl Larry, “There is a lot of speculation that carried the market to bottom,” he said. “Today concern is focused mainly on OPEC refused to express an intention to take any action to reduce its production . “ The OPEC Secretary-General Abdullah al-Badri defended at a conference in Dubai Sunday this strategy, saying that the gap between supply and demand does not explain the drop in prices at a time when OPEC kept it on its output ceiling unchanged at 30 million barrels per day during the last meeting in November / November . Analysts said the “Commerzbank” “hardly believe that OPEC wants to know to what extent they can go in the current situation . “ He went Emirati Oil Minister Suhail Al Mazroui further during the conference itself, according to experts said that OPEC can afford the price up to $ 40 a barrel . Said analyst Phil Flynn said, “OPEC continues to fortify their positions (..) Emirates says it is not necessary to hold an emergency meeting (..) and they do not hide their target is the American oil shale that,” in the hope that the fall in prices, “to the exclusion of some producers.” . http://almasalah.com/ar/NewsDetails.aspx?NewsID=43132 Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Oct 282014
 
GARTMAN: We’re Witnessing The End Of The Oil Era MYLES UDLAND OCT. 27, 2014, 6:14 PM Dennis Gartman has a new forecast for oil: a lot lower. In an appearance on CNBC’s Fast Money on Monday, Gartman, publisher of the Gartman Newsletter, said that crude oil prices will fall demonstrably from current levels. Earlier on Monday, it had been reported that Gartman saw crude oil going to $10 a barrel, but he backed a bit off that claim in his appearance on Monday, saying that maybe next time he ought to be a bit more circumspect when he talks to CNBC’s producers. But the central spirit of Gartman’s not quite $10 call was still intact, with Gartman saying simply that the era of oil is over. At one point, Gartman went so far as to compare crude oil to whale oil, which became obsolete following the advent of crude in the early 20th century. In discussing the “end of oil,” Gartman referenced news from Lockheed Martin earlier this month that the aerospace giant has made a technological breakthrough in developing a power source based on nuclear fusion. And while Business Insider’s Jessica Orwig reported that some in the scientific community are skeptical of this breakthrough, Gartman sees the potential in this breakthrough as being something of a death knell for oil. Read The Rest of the Article HERE Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Oct 162014
 
Pepe Escobar is the roving correspondent for Asia Times/Hong Kong, an analyst for RT and TomDispatch, and a frequent contributor to websites and radio shows ranging from the US to East Asia.short URL Published time: October 15, 2014 11:52 http://rt.com/op-edge/196148-saudiarabia-oil-russia-economic-confrontation/ A fisherman pulls in his net as an oil tanker is seen at the port in the northwestern city of Duba.(Reuters / Mohamed Al Hwaity) Rosneft Vice President Mikhail Leontyev: “Prices can be manipulative …Saudi Arabia has begun making big discounts on oil. This is political manipulation, Arabis is being manipulated, which could end badly.” A correction is in order; the Saudis are not being manipulated. What the House of Saud is launching is“Tomahawks of spin,” insisting they’re OK with oil at $90 a barrel; also at $80 for the next two years; and even at $50 to $60 for Asian and North American clients. The fact is Brent crude had already fallen to below $90 a barrel because China – and Asia as a whole – was already slowing down economically, although to a lesser degree compared to the West. Production, though, remained high – especially by Saudi Arabia and Kuwait – even with very little Libyan and Syrian oil on the market and with Iran forced to cut exports by a million barrels a day because of the US economic war, a.k.a. sanctions. The House of Saud is applying a highly predatory pricing strategy, which boils down to reducing market share of its competitors, in the middle- to long-term. At least in theory, this could make life miserable for a lot of players – from the US (energy development, fracking and deepwater drilling become unprofitable) to producers of heavy, sour crude such as Iran and Venezuela. Yet the key target, make no mistake, is Russia. A strategy that simultaneously hurts Iran, Iraq, Venezuela, Ecuador and Russia cannot escape the temptation of being regarded as an “Empire of Chaos” power play, as in Washington cutting a deal with Riyadh. A deal would imply bombing ISIS/ISIL/Daesh leader Caliph Ibrahim is just a prelude to bombing Bashar al-Assad’s forces; in exchange, the Saudis squeeze oil prices to hurt the enemies of the “Empire of Chaos.” Yet it’s way more complicated than that. Sticking it to Washington Russia’s state budget for 2015 requires oil at least at $100 a barrel. Still, the Kremlin is borrowing no more than $7 billion in 2015 from the usual “foreign investors”, plus $27.2 (more…)
Oct 132014
 
Good Day Everyone,
 
I was talking with an oil trader friend today, he is in the middle of a trade on Iraqi oil and he was ranting about the price/supply/production of crude.
 
His position is that if the OPEC countries cannot settle their split the price of oil will settle down to be less than $50 USD in just the next few months. If this happens, he says, the US oil production will stop. The cost of pumping oil in the Dakotas is $60 USD.  He continues to say that all drilling and pumping will stop in the US. Who wants to pay more for US pumped oil when you can buy for less.  He predicts the price of gas at the pump to sink to under $2.00 USD.
 
The article below addresses this position pretty handily.   Mike
 Posted by at 5:14 pm
Jun 022013
 
Population growth erodes sustainable energy gains – UN report Source: – Fri, 31 May 2013 02:58 PMAuthor: Laurie Goering LONDON (Thomson Reuters Foundation) – The world has made important progress towards improving energy efficiency, using more renewable sources of power and providing basic electricity to every household over the last two decades. But the gains have barely been enough to keep up with population growth and surging energy demand and are far short of what is needed to curb climate change, a new UN-backed energy report suggests. In the last 10 years, 1.7 billion people around the world gained access to electricity. But the world’s population grew by 1.6 billion over that same period, nearly wiping out the gains. Similarly, rising energy demand effectively eliminated half the energy efficiency savings and 70 percent of the gains from growth in renewable energy over the past decade. “Even to stand still, we have to run extremely fast. That’s the challenge,” said Vivien Foster, a sustainable energy leader at the World Bank and one of the lead authors of the Global Tracking Framework report, released on Friday. Based on household survey data from 180 countries around the world, the report examines progress over the last 20 years towards three sustainable energy goals the United Nations Secretary General has set for 2030: universal access to electricity and fuel sources other than firewood or dung for cooking; a doubling of renewable energy as a share of global energy use; and a doubling of the annual rate of improvement in energy efficiency. About 70 countries around the world have signed up to try to meet the “Sustainable Energy for All” goals. The report – the first to track progress on such goals – aims to drive better policy on sustainable energy as well as to support the inclusion of energy issues in new sustainable development goals (SDGs), which are expected to be adopted next year to replace the expiring Millennium Development Goals (MDGs). 1.2 BILLION WITHOUT ELECTRICITY Access to clean and sustainable energy remains an enormous problem around the world, particularly in sub-Saharan Africa and South Asia. Globally 1.2 billion people have no access to electricity and 2.8 billion cook with firewood and other “solid fuels” that can cause health problems and that help fuel widespread deforestation. The problem is worst in rural areas, but experts are particularly concerned about cities, where virtually all of the expected (more…)
Jun 132011
 
Sunday 12 June 2011 by: David Sirota, Truthout (Photo: Gilson Geoffrey / Flickr [3]) Laugh me off as the idealistic son of a physician (which I am), but I still thought the doctor’s ethos of “first do no harm” was a notion we could all agree on. Even in this hyper-polarized Era of the Screaming Red-Faced Partisan, I thought we would witness the recent Fukushima reactor meltdown or footage of Americans setting their tap water on fire and at least agree to stop pursuing energy policies that we know endanger our health and safety — if not out of altruism, then out of self-interest. How embarrassingly naive I was. That, or I momentarily forgot that this isn’t just any industrialized country — this is America circa 2011, a haven of hubris that has become hostile to the “do no harm” principle. This makes us different than, say, Japan and Germany when it comes to nuclear power. Scarred by fallout, the former has canceled plans to build 14 new nuclear plants and has radically altered its energy agenda, now moving to pursue solar rather than atomic energy. Likewise, according to the Associated Press, the latter reacted to Japan’s plight by “vot(ing) in favor of a ban on nuclear power from 2022 onward.” By contrast, in the days after the Fukushima disaster, the Obama administration not only reaffirmed its commitment to expanding nuclear power, but, according to ProPublica, also continued the policy of “routinely waiving fire rule violations at nearly half the nation’s 104 commercial reactors, even though fire presents one of the chief hazards at nuclear plants.” Additionally, the Associated Press reports that two congressional lawmakers are now pushing the government to “back a new generation of miniature nuclear reactors” that would be sited throughout the country. Incredibly, these moves come even as a nuclear reactor in Washington State just experienced a fire scare and even as a new study of U.S. Geological Survey data shows many of the nation’s reactors sit near active fault lines. The same story is playing out in the quest to find natural gas. Over the last few years, more evidence has surfaced that suggests drinking water may be getting contaminated by fracking — a drilling technique that involves injecting toxic chemicals into the earth. This evidence runs the gamut from a new Duke University study into methane, to a New York Times report on fracking wastewater (more…)
May 302011
 
By Robert Tuttle and Christian Schmollinger – May 30, 2011 12:29 PM MT Oil dropped in New York, headed for its first monthly decline since August, on speculation that fuel demand will falter amid a slowdown in the U.S. economic recovery and Europe’s continuing debt crisis. Futures slipped as much as 1 percent before reports this week that may show U.S. employers hired fewer workers in May and manufacturing cooled. Concern that European governments will struggle to resolve the region’s debt crises weakened the euro against the dollar, reducing the appeal of commodities priced in the U.S. currency. Trading volumes were lower than average, with public holidays in the U.S. and U.K. “The dollar is a bit stronger today, which is a negative factor for prices,” said Carsten Fritsch, a Commerzbank AG analyst in Frankfurt. Greek debt problems “weigh on the euro.” Crude for July delivery fell 21 cents, or 0.2 percent, to $100.38 a barrel in electronic trading on the New York Mercantile Exchange. Earlier it touched $99.60. Prices have fallen 12 percent this month. Brent oil for July settlement lost 35 cents, or 0.3 percent, to $114.68 on the ICE Futures Europe exchange in London. The contract has fallen 8.3 percent this month. The European benchmark contract traded at a premium of $14.30 a barrel to U.S. futures. The difference between front- month contracts in London and New York surged to a record $19.54 on Feb. 21. It averaged 76 cents last year. U.S. floor trading is closed today for the Memorial Day holiday. Electronic trades will be booked with tomorrow’s transactions for settlement purposes. Weaker Euro The dollar gained 0.4 percent to trade at $1.4278 against the euro after Greek Prime MinisterGeorge Papandreou said he’ll press ahead with new austerity measures even as he failed to win backing from opposition parties. A strengthening dollar limits the appeal of commodities priced in the currency as a hedge against inflation. U.S. manufacturing, which accounts for about 12 percent of the world’s biggest economy, will probably cool following its strongest showing in seven years. The Institute for Supply Management’s factory index fell to 57.6 this month, the lowest level since October, according median forecast in the Bloomberg survey of economists. The Labor Department may say on June 3 payrolls rose 185,000 after a 244,000 gain in April, according to a separate survey. Employment Data “The employment data will be the key this week to really see what’s (more…)
May 092011
 
[Editor’s Note: Sustainability spans all disciplines and all projects. Everything that sustains our lifestyle is as currency.  The more we can produce locally the better off we are and the more independent we are. I am designing an off the grid system for my new farm.  I will post the project as it progresses.] This animation shall explain the biogas technique. You will be shown the process of a biogas plant from the delivery of feedstock to the output of the digestate. This biogas film is useful for everyone, who would like to plan or operate a biogas plant, no matter if you are farmer, energy provider or disposer. Furthermore, the biogas film is excellent for operator training, for school lessons and university purposes. httpv://www.youtube.com/watch?v=3UafRz3QeO8   Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)