Wednesday, May 22, 2013
News Links, May 21-23, 2013
## Global Ponzi meltdown/House of Cards ##
Millions falling into poverty in recession-racked Italy: report
"Millions of Italians cannot afford to heat their homes properly or eat meat as their country is racked by recession and soaring unemployment, said a report which found the number of people considered seriously deprived had doubled in the past two years."
"Millions of Italians cannot afford to heat their homes properly or eat meat as their country is racked by recession and soaring unemployment, said a report which found the number of people considered seriously deprived had doubled in the past two years."
Forget Bank Runs, Credit Crazy Brazil Is Heading for Trouble
The Coming Collapse Of The Petrodollar System
Caterpillar machinery sales down 9 percent in April, led by Asia
Vietnam Says Economy at Great Risk of Macroeconomic Instability
The Coming Collapse Of The Petrodollar System
Caterpillar machinery sales down 9 percent in April, led by Asia
Vietnam Says Economy at Great Risk of Macroeconomic Instability
Oh, brother! -- RF
The Cashless Society Arrives in Africa. The "Multipurpose" Biometric National Identity Smart Card
"It was recently announced at the World Economic Forum in Cape Town, South Africa that MasterCard and the Nigerian National Identity Management Commission (NIMC) under the government of Nigeria would form a partnership to distribute a new identity card to every Nigerian citizen."
"It was recently announced at the World Economic Forum in Cape Town, South Africa that MasterCard and the Nigerian National Identity Management Commission (NIMC) under the government of Nigeria would form a partnership to distribute a new identity card to every Nigerian citizen."
As I have previously observed, creating bubbles is now the only way left to prop up the economy. -- RF
## Airline Death Spiral ##
Impact Of Consolidation In The U.S. Airline Industry
Impact Of Consolidation In The U.S. Airline Industry
"It has become a nightmare for travelers to fly from Point A to Point B. Equity investors have treated most airline stocks like rotten fish that are best avoided at all costs."
Here's what to blame for Tiger's $15.4m profit loss
Fee Hike May Force Air NZ to Raise Fares
Caribbean island's tourism bleeds after Virgin Atlantic cuts capacity
Fee Hike May Force Air NZ to Raise Fares
Caribbean island's tourism bleeds after Virgin Atlantic cuts capacity
## Fault lines/flashpoints/powder kegs/military/war drums ##
Egypt's Morsi dispatches army to Sinai after suspected Islamists snatch soldiers
Egypt's Morsi dispatches army to Sinai after suspected Islamists snatch soldiers
## Global unrest/mob rule/angry people/torches and pitchforks ##
Road rage against loadshedding (Pakistan)
"Residents of Samanabad area took to the streets on Tuesday against the prolonged electricity loadshedding and staged a demonstration."
Tunisia shuts down medieval city to prevent Salafi demonstrations
"Residents of Samanabad area took to the streets on Tuesday against the prolonged electricity loadshedding and staged a demonstration."
Tunisia shuts down medieval city to prevent Salafi demonstrations
Fresh unrest flares up at Ashulia, 20 hurt in clash (Bangladesh)
California Hospital Strike: Thousands Picket At UC Davis Medical Center, Other Universities
'March Against Monsanto' planned in Idaho and over 30 countries on May 25
'March Against Monsanto' planned in Idaho and over 30 countries on May 25
## Energy/resources ##
Blackout will cost industry 'billions' (Thailand)
Power outage at Cairo airport (Egypt)
U.S. senators hear mixed assessment of shale
"Maintaining a flat level of natural gas production from U.S. shale deposits is an elusive prospect, an energy policy director told U.S. lawmakers."
The fight for North Dakota's fracking-water market
"Maintaining a flat level of natural gas production from U.S. shale deposits is an elusive prospect, an energy policy director told U.S. lawmakers."
The fight for North Dakota's fracking-water market
And there you have it. It is just as cooler heads have been warning from the outset: The sweet spots get drilled first, and it's all downhill from there. Ballooning costs and falling yields will turn the endless-energy dream into a nightmare. So much for the US becoming the new Saudi Arabia. -- RF
European refiners to be pressured by increase in Russian diesel exports
"The rise in diesel exports comes as Russia's economy weakens with a subsequent lower demand for the country's commodities, and analysts expect the export trend to continue as Russian refiners look to sell their diesel abroad to make up for the waning domestic demand."
"The rise in diesel exports comes as Russia's economy weakens with a subsequent lower demand for the country's commodities, and analysts expect the export trend to continue as Russian refiners look to sell their diesel abroad to make up for the waning domestic demand."
Saudi Arabia to import near record high diesel this summer
"Saudi Arabia will import near record high diesel volumes this summer, as it gears up to beat the sweltering heat and meet rising travel needs during the Muslim fasting month of Ramadan, trade sources said."
"Saudi Arabia will import near record high diesel volumes this summer, as it gears up to beat the sweltering heat and meet rising travel needs during the Muslim fasting month of Ramadan, trade sources said."
Gas must be sold for a substantially higher price in order to make shale gas profitable. The prospect of getting much higher prices abroad is therefore hugely attractive to those losing money on shale gas operations. -- RF
Even Japan's "Cool Biz" campaign has not gone this far… yet. -- RF
"Enhanced oil recovery" refers to techniques which squeeze more oil out of mature fields. Take a look at this installation. That's a considerable investment for a relatively piddling amount of oil. And while desert regions have been touted for their great solar power potential (remember when north Africa was going to supply all of Europe with electricity?), the fine dust coats everything, considerably decreasing solar panel efficiency. -- RF
Death in parched farm field reveals growing India water tragedy
"Conflicts between industry and farmers getting worse as water becomes more and more scarce"
"Conflicts between industry and farmers getting worse as water becomes more and more scarce"
Power shortage looms (Namibia)
## Got food? ##
High crop prices entice farmers to expand planting into old golf courses, wildlife preserves
## Got food? ##
High crop prices entice farmers to expand planting into old golf courses, wildlife preserves
No. -- RF
"What the company doesn't mention when touting the effects of its technology is the price paid by others for its profits (which were $1.48 billion in this latest quarter, up 22 percent from a year ago). According to the CFS, 'From 1995-2011, the average cost to plant one acre of soybeans has risen 325 percent.' Roundup Ready soybean seeds were introduced in 1996. The costs of planting other crops have skyrocketed as well, as consolidation in the seed business has left 53 percent of the global market in the hands of three corporations: Monsanto, DuPont (DD), and Syngenta (SYT). In that period prices shot up 516 percent for cotton, and corn seed prices rose by 259 percent."
Many Corn Farmers Go Back to Using Chemicals as Mother Nature Outwits Genetically Modified Seeds
McDonald's unveils its highest-calorie item ever
McDonald's unveils its highest-calorie item ever
## Lifestyle Solutions ##
Boreal forest talks break down (Canada)
## Intelligence/propaganda/security/internet/cyberwar ##
House Republicans Signal Support for Cadre of Military Spies
Fox Calls U.S. Surveillance Of Its Reporter 'Downright Chilling'
Fox Calls U.S. Surveillance Of Its Reporter 'Downright Chilling'
That's great. If photos eventually do come out, there will have been plenty of time to do a good job of faking them. In the meantime, we will perhaps be regaled by still more different versions of the exploit by the participants. -- RF
Some U.S. power companies say they face constant cyber attacks
"Several U.S. power utilities say they face constant cyber attacks on critical systems, according to a report by two Democratic lawmakers amid warnings from the Obama administration that foreign hackers are seeking to attack the electric grid."
"Several U.S. power utilities say they face constant cyber attacks on critical systems, according to a report by two Democratic lawmakers amid warnings from the Obama administration that foreign hackers are seeking to attack the electric grid."
US robots, Israeli drones to help make 2014 World Cup in Brazil 'one of safest sporting events ever'
Greenpeace drops item on Swedish reactor from glider to make point
Greenpeace drops item on Swedish reactor from glider to make point
Antiwar.com Sues FBI After Secret Surveillance
After Hijackings, Twitter Adds Two-Step Security Feature
After Hijackings, Twitter Adds Two-Step Security Feature
How police can find your deleted text messages
"Think that a secure password and erasing your phone's memory will protect sensitive information on your smartphone? Think again."
"Think that a secure password and erasing your phone's memory will protect sensitive information on your smartphone? Think again."
Want to Lose Money? Have a Website Outage
"According to the National Retail Federation, 67 percent of consumers will abandon a website if it's too slow. Almost half of all online shoppers will abandon their shopping cart if there is a 3 second delay, according to KISSMetrics. Downtime can cost a company hundreds of thousands of dollars in lost revenue."
"According to the National Retail Federation, 67 percent of consumers will abandon a website if it's too slow. Almost half of all online shoppers will abandon their shopping cart if there is a 3 second delay, according to KISSMetrics. Downtime can cost a company hundreds of thousands of dollars in lost revenue."
## Systemic breakdown/collapse ##
Study: Italy's Children Face Bleak Future
Study: Italy's Children Face Bleak Future
Hundreds of Miyagi residents seek equal compensation as Fukushima
"Hundreds of people living just outside Fukushima Prefecture say they have been denied adequate compensation after the country's 2011 nuclear disaster despite suffering elevated radiation levels."
"Hundreds of people living just outside Fukushima Prefecture say they have been denied adequate compensation after the country's 2011 nuclear disaster despite suffering elevated radiation levels."
"Electricity sales to large-lot industrial users decreased 4 percent, losing ground for the 11th straight month, the federation said. Industrial demand was weak because "production activity is sluggish," a federation official said. Power sales dropped for all seven industrial sectors, such as machinery makers, steelmakers and chemicals producers."
Nationalism rearing ugly head with greater frequency, protesters make public death threats
"Angry protesters took to the streets Sunday in Tokyo's Shin-Okubo district, home to many Korean shops and restaurants, describing the Korean residents there as 'cockroaches' and calling for their immediate 'extermination.'"
"Angry protesters took to the streets Sunday in Tokyo's Shin-Okubo district, home to many Korean shops and restaurants, describing the Korean residents there as 'cockroaches' and calling for their immediate 'extermination.'"
## China ##
Threat to Rice Fuels Latest Chinese Uproar
"A government test indicated that nearly half the rice sold in the southern Chinese city of Guangzhou was contaminated with cadmium, triggering anger from consumers that China's staple food hasn't escaped the widespread pollution tainting its air, water and soil."
Threat to Rice Fuels Latest Chinese Uproar
"A government test indicated that nearly half the rice sold in the southern Chinese city of Guangzhou was contaminated with cadmium, triggering anger from consumers that China's staple food hasn't escaped the widespread pollution tainting its air, water and soil."
Chinese troops suffering post-traumatic stress disorder in Tibet
"The battle to keep Tibetans under control is inflicting severe psychological damage on Chinese armed police, an internal training document has revealed."
"The battle to keep Tibetans under control is inflicting severe psychological damage on Chinese armed police, an internal training document has revealed."
## UK ##
Soldier hacked to death in London in suspected Islamist attack
Food swapping: The movement taking off in the UK
Most UK species in decline, wildlife stocktake shows
Food swapping: The movement taking off in the UK
Most UK species in decline, wildlife stocktake shows
Kunstler's observation that the suburbs are becoming the new slums is spot-on. Decreasing net energy is killing the suburban project, just as it will kill many other things. -- RF
CEO compensation from stock keeps growing as companies respond to shareholder activists
"The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier that was aided by a rising stock market, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm."
South Korea trade deal produces bleak first-year results for U.S."The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier that was aided by a rising stock market, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm."
"More than a year after it took effect, a highly touted trade deal with South Korea has failed to produce as expected for the U.S.: Exports are down, imports are up and the trade deficit with the Asian economic powerhouse has ballooned."
News Links, May 18-20, 2013
## Global Ponzi meltdown/House of Cards ##
Shipping: A hard life on ocean wave
"After buoyant times, the shipping industry is experiencing that sinking feeling, with all hope of a bottoming out and rebirth having been smothered."
Shipping: A hard life on ocean wave
"After buoyant times, the shipping industry is experiencing that sinking feeling, with all hope of a bottoming out and rebirth having been smothered."
Another example of downsizing oneself into profitability. -- RF
Failed retirements a global worry
"If misery really does love company, then America's aging baby boomers are due for a global group hug. Citizens in a 12-nation survey overwhelmingly reported they are not ready for retirement and expect retirement outcomes to be worse for future retirees than for those who have already retired."
"If misery really does love company, then America's aging baby boomers are due for a global group hug. Citizens in a 12-nation survey overwhelmingly reported they are not ready for retirement and expect retirement outcomes to be worse for future retirees than for those who have already retired."
Global Government Debt Is Already 80% Of Global GDP
Italian Government Unveils Economic Stimulus
Visualizing The Silver Squeeze
ArcelorMittal CFO Says 16 Out Of 21 European Blast Furnaces Currently Operational
Voestalpine CEO sees steel prices remaining under pressure
Italian Government Unveils Economic Stimulus
Visualizing The Silver Squeeze
ArcelorMittal CFO Says 16 Out Of 21 European Blast Furnaces Currently Operational
Voestalpine CEO sees steel prices remaining under pressure
"Even the biggest investors acknowledge that 'frontier markets' like Vietnam and Romania aren't for the faint of heart because nobody knows whether these new debt market players will be able to make good on their obligations."
"The $60 billion-a-year spree by the world's richest country, dominated by holdings in companies such as British bank Barclays Plc (BARC) and German carmaker Volkswagen AG, is set to slow as energy revenue dips because of a drop in prices and stalling production."
Alcoa to cut 500 jobs at plant in Canada
## Airline Death Spiral ##
Singapore Airlines Flags Weak Bookings;Fuel Costs Bite
"Singapore Airlines Ltd. (C6L.SG) swung to a profit in its fiscal fourth quarter after selling planes and spare engines, but warned of challenges ahead from flat bookings, overcapacity in cargo operations and high fuel costs."
## Airline Death Spiral ##
Singapore Airlines Flags Weak Bookings;Fuel Costs Bite
"Singapore Airlines Ltd. (C6L.SG) swung to a profit in its fiscal fourth quarter after selling planes and spare engines, but warned of challenges ahead from flat bookings, overcapacity in cargo operations and high fuel costs."
New board to oversee Trinidad's Caribbean Airlines
"Trinidad's finance minister has appointed a new interim board to oversee Caribbean Airlines after announcing that the state-owned company posted losses of more than $70 million."
"Trinidad's finance minister has appointed a new interim board to oversee Caribbean Airlines after announcing that the state-owned company posted losses of more than $70 million."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Nigeria deploys 'massive' number of troops
We already knew this from Dick Cheney. -- RF
Iraq on the brink as sectarian strife grows
France in talks with U.S., Israel to buy drones: minister
France in talks with U.S., Israel to buy drones: minister
## Global unrest/mob rule/angry people/torches and pitchforks ##
Saudi dies after setting himself on fire in protest
White-collar workers are turning to labor unions
White-collar workers are turning to labor unions
"'There is a great deal of unrest among professional workers, who don't have a history of union joining behavior,' one expert says. 'They represent the frontiers of unionization in America.'"
Anti-poverty protesters clash with police (New Zealand)
Egyptian security forces clash with protesters in central Cairo
Miners, teachers clash with Bolivian police during protests demanding higher old-age pensions
Italy coalition: Thousands rally in Rome against cuts
Egyptian security forces clash with protesters in central Cairo
Miners, teachers clash with Bolivian police during protests demanding higher old-age pensions
Italy coalition: Thousands rally in Rome against cuts
Youngsters rally in Tokyo to call attention to their poverty
"Hundreds of students living in poverty took to the streets of a central Tokyo shopping district on May 18 to call for measures allowing them access to education and a better future."
"Hundreds of students living in poverty took to the streets of a central Tokyo shopping district on May 18 to call for measures allowing them access to education and a better future."
## Energy/resources ##
"'This is a very costly business,' Marc Edwards, senior vice president of completion and production at Halliburton, said."
So, drilling for junk hydrocarbons is breaking the bank, is it? So far, shale gas has been a complete bust (i.e., it's unprofitable), and tight oil can't be much better. -- RF
U.S. oil prices below $70 could stem drilling - EIA head
"Oil producers in the United States could slow drilling if prices drop below $70 a barrel, which would make such operations uneconomical, the head of the Energy Information Administration said on Tuesday."
Global iron ore miners accelerate integration into China
"Oil producers in the United States could slow drilling if prices drop below $70 a barrel, which would make such operations uneconomical, the head of the Energy Information Administration said on Tuesday."
Global iron ore miners accelerate integration into China
This is certainly good news for the eastern seaboard, but it's not a permanent reprieve. -- RF
Biofuel use is fueling rapid deforestation (Tanzania)
Fantastic. But it also shows that the energy equation has changed drastically in recent years. In the days of cheap, abundant energy, it wasn't worth chasing after low-grade waste heat. Now suddenly junk energy is all the rage. Put this in the category with junk hydrocarbons and count your blessings. -- RF
GE's Deep Sea Dive for 100 Billion Barrels of Oil (Bloomberg video)
"We're taking about a fifth of the agriculture waste that is left to rot in nature anyhow."
Crop residue must be allowed to rot and return organic matter to farmland. The idea that it's "wasted" by leaving it on the fields is absurd. -- RF
## Infrastructure scavenging ##
Rumanian gang of three stole nearly £20,000 worth of railway cables
## Infrastructure scavenging ##
Rumanian gang of three stole nearly £20,000 worth of railway cables
Scrap thief steals batteries from 13 Indianapolis church buses
## Got food? ##
Shoppers tightening their belts to cope with rising food prices (Canada)
## Got food? ##
Shoppers tightening their belts to cope with rising food prices (Canada)
At trade talks, U.S., E.U. ready for fight on genetically modified crops
Organic Pest Control Series: Beneficial Insects
Organic Pest Control Series: Beneficial Insects
## Environment/health ##
Industrialized fishing has forced seabirds to change what they eat
Industrialized fishing has forced seabirds to change what they eat
## Intelligence/propaganda/security/internet/cyberwar ##
Defense official says U.S. has authority to target terrorists anywhere
"Systems that would be controversial—if not outright rejected—in the West because of the threat they pose to civil liberties are being implemented in many developing countries, often with the support of Western donors."
Financial Times hit by hackers
## Systemic breakdown/collapse ##
Warm eggs, clams, cream cheese recipe for trucking citations
## Systemic breakdown/collapse ##
Warm eggs, clams, cream cheese recipe for trucking citations
Alert readers will recall my prediction that with the coming of warm weather, we'll see renewed incidents of broken links in the cold chain. When you see fresh and frozen food, you may fairly wonder if it's always been fresh and frozen. -- RF
If Japan is a source of encouragement, then the situation is even worse than I thought. -- RF
Even before the colossal cost overruns start, the promoters are coming up with desperate ideas like this to cut costs. I repeat my prediction that the maglev train line will never happen. -- RF
But surely the Japanese know that the production of shale gas in the US is unprofitable. -- RF
Despite curbs, China's vast hot money triangle flourishes
China oil demand down 12pc in 4 months? No way
China oil demand down 12pc in 4 months? No way
Parents 'failing to get children ready for school', say heads
"Schools are to issue advice to parents on how to raise their children amid fears too many pupils are turning up to lessons unfit for the demands of full-time education, it was announced today."
"Schools are to issue advice to parents on how to raise their children amid fears too many pupils are turning up to lessons unfit for the demands of full-time education, it was announced today."
Benefit cuts risk rise in child poverty, doctors warn
"A report by the UN children's fund has found that Britain's children are worse off overall than in many other industrialised countries"
"A report by the UN children's fund has found that Britain's children are worse off overall than in many other industrialised countries"
The witch hunt over oil prices just serves to obscure the real issue: Why can't we get high-quality oil for $10/bbl? The public needs to wake up and focus on the real problem of net energy decline. -- RF
Revealed: Devastating impact of 'bedroom tax' sees huge leap in demand for emergency hardship handouts for tenants
Revealed: Devastating impact of 'bedroom tax' sees huge leap in demand for emergency hardship handouts for tenants
Child mental health disorders rising, cost society $247 billion annually
New York says breaks cigarette-smuggling ring linked to militants
America's first hemp crop in 60 years was planted this week in ColoradoNew York says breaks cigarette-smuggling ring linked to militants
Soaring gasoline prices hurt Oklahoma City area retailers
"Gasoline price jumps are difficult for Oklahoma gasoline retailers and convenience store owners because they tighten margins and make customers angry."
AP CEO calls government seizure of phone records unconstitutional, says chill already felt
"The president and chief executive officer of The Associated Press on Sunday called the government's secret seizure of two months of reporters' phone records "unconstitutional" and said the news cooperative had not ruled out legal action against the Justice Department."
"The president and chief executive officer of The Associated Press on Sunday called the government's secret seizure of two months of reporters' phone records "unconstitutional" and said the news cooperative had not ruled out legal action against the Justice Department."
Saturday, May 18, 2013
News Links, May 16-17, 2013
## Global Ponzi meltdown/House of Cards ##
"China's outstanding corporate debt will catch up and surpass U.S. corporations to become the largest globally within the next few years."
Peak gold: The Future For Gold Supply Looks Grim: An Opportunity For Gold Investors
"Recently, we published a true all-in costs article that gave investors insight into the true all-in costs that miners are spending to produce each ounce of gold. After removing write-downs and exceptional costs, gold companies spent almost $1300 per ounce to extract gold in 2012. Even with these high expenditures, the industry is actually producing less gold in 2012 than in 2011 - rising costs and lower production is not a recipe for a healthy industry."
"Recently, we published a true all-in costs article that gave investors insight into the true all-in costs that miners are spending to produce each ounce of gold. After removing write-downs and exceptional costs, gold companies spent almost $1300 per ounce to extract gold in 2012. Even with these high expenditures, the industry is actually producing less gold in 2012 than in 2011 - rising costs and lower production is not a recipe for a healthy industry."
Corporate Cash Hoarding to Hold Back Growth in Europe, S&P Says
Sweden Calls for Clean Break With Austerity
South Africa's large cash holdings reveal big informal sector
Sweden Calls for Clean Break With Austerity
South Africa's large cash holdings reveal big informal sector
Pope Francis Denounces 'Cult Of Money'
## Airline Death Spiral ##
$704m Loss for Caribbean Airlines
Angry airline worker throws chair at passengers (includes video)
## Airline Death Spiral ##
$704m Loss for Caribbean Airlines
Angry airline worker throws chair at passengers (includes video)
Struggling Singapore Airlines fights back to boost growth
More airline passengers tolerant of baggage fees, study says
More airline passengers tolerant of baggage fees, study says
## Fault lines/flashpoints/powder kegs/military/war drums ##
Attacking Iran's Nuclear Sites Would be Sheer Madness
Taiwan Plans Drill After Rebuffing Philippines Over Death at Sea
"Taiwan deployed fighter jets and a destroyer for military exercises to waters disputed with the Philippines, after rebuffing the Southeast Asian nation's offer to apologize over the killing of a fisherman in the area."
"Taiwan deployed fighter jets and a destroyer for military exercises to waters disputed with the Philippines, after rebuffing the Southeast Asian nation's offer to apologize over the killing of a fisherman in the area."
China granted permanent observer status at Arctic Council
"The Arctic Council has granted permanent observer status to China and six others, in a signal of the polar region's growing international importance."
"The Arctic Council has granted permanent observer status to China and six others, in a signal of the polar region's growing international importance."
The question is: How much energy can Afghanistan leverage? There will never be a superhighway system with rest stops, or any other such large-scale infrastructure. It's too late in the energy game. -- RF
US moving 200 marines to Sicily for Libya protection
"Italy has announced the United States was transferring 200 marines and two planes to its base at Sigonella in Sicily to deploy in Libya in case US diplomats come under attack as they did last year."
Russian Pacific Fleet Warships Enter Mediterranean For First Time In Decades, To Park In Cyprus
## Global unrest/mob rule/angry people/torches and pitchforks ##
"Italy has announced the United States was transferring 200 marines and two planes to its base at Sigonella in Sicily to deploy in Libya in case US diplomats come under attack as they did last year."
Russian Pacific Fleet Warships Enter Mediterranean For First Time In Decades, To Park In Cyprus
## Global unrest/mob rule/angry people/torches and pitchforks ##
Thousands protest oil refinery plans in China
## Energy/resources ##
Water Shortages Are a Major Problem for Future Energy Projects
## Energy/resources ##
Water Shortages Are a Major Problem for Future Energy Projects
Sounds great… but I guarantee you that it will not sustain industrial society. -- RF
Not Just Oil: The US is also Dependent on Foreign Uranium
"One of the most critical sources of foreign energy is due to dry up this year, and the results could mean spiking electricity prices across the country."
"One of the most critical sources of foreign energy is due to dry up this year, and the results could mean spiking electricity prices across the country."
Geopolitical feedback at work. Now that there are no more hydrocarbon plums left in politically stable parts of the world, oil companies must increasingly forge into unstable, dangerous regions. Add to that the scramble for junk hydrocarbons like oil sand, tight oil, and shale gas — not to mention methane hydrates, the new certain-loser darling in Japan — and you can begin to see through all the hoopla and propaganda. Welcome to the low-net-energy world. -- RF
Libyan oil industry hit by legacy of violence
"Protesters closed the Zueitina oil refinery, the latest setback for Libya's efforts to develop its crucial energy industry after the 2011 civil war."
"Protesters closed the Zueitina oil refinery, the latest setback for Libya's efforts to develop its crucial energy industry after the 2011 civil war."
More geopolitical feedback. -- RF
Awash with cash, Petrobras aims to double in size in 7 years
"Ahead of this week's dramatic $11 billion bond sale that swelled its coffers, Brazil's state-controlled Petrobras predicts it will double in size in seven years."
"Ahead of this week's dramatic $11 billion bond sale that swelled its coffers, Brazil's state-controlled Petrobras predicts it will double in size in seven years."
What If There Is Peak Oil? (Tad Patzek)
Power shortage cripples fishmeal producers (Iceland)
Blackout amid praise for government's handling of power situation (India)
## Got food? ##
French recession: Farms feeling the pinch
Blackout amid praise for government's handling of power situation (India)
## Got food? ##
French recession: Farms feeling the pinch
Monsanto and Other GM Firms are Winning in the US – and Globally
"The US State Department has sadly joined the push to distribute GM crops around the world, whether people want them or not."
"The US State Department has sadly joined the push to distribute GM crops around the world, whether people want them or not."
Food Supply Under Assault as Climate Heats Up
Cereal production drops‚ food security to worsen (Nepal)
Cereal production drops‚ food security to worsen (Nepal)
Invasive ladybirds wage 'biological war' on natives
BP says oil spill settlement is too costly
"Oil giant BP has turned to the government for help with the compensation deal for victims of the 2010 Gulf of Mexico oil spill, the BBC reported."
Appetite for rhino horns is wiping out the species
## Intelligence/propaganda/security/internet/cyberwar ##
Saudi religious police boss condemns Twitter users
BP says oil spill settlement is too costly
"Oil giant BP has turned to the government for help with the compensation deal for victims of the 2010 Gulf of Mexico oil spill, the BBC reported."
Appetite for rhino horns is wiping out the species
## Intelligence/propaganda/security/internet/cyberwar ##
Saudi religious police boss condemns Twitter users
Hmmmm… At any rate, we're about due for a new version of the OBL assassination narrative. -- RF
"State Police say the five men and two women are from Pakistan, Saudi Arabia, and Singapore, and 'cited their education and career interests' for being in the area. The men told police they were chemical engineers and recent college graduates."
Kuroda Faith Waning Halts Deals as Forecasts Blown: Japan Credit
Pump! Nikkei tops 15,000 for first time in more than 5 years
Pump! Nikkei tops 15,000 for first time in more than 5 years
You could have fooled me. From my vantage point on the inside, the situation just seems to be worsening. -- RF
Japan govt takes aim at electricity monopolies
Japan takes first step to a permanent reactor shutdown after Fukushima
Japan govt takes aim at electricity monopolies
Japan takes first step to a permanent reactor shutdown after Fukushima
Troubled Tsuruga reactor could force utilities to shoulder enormous financial burdens
## China ##
China's recovery losing steam, adding to pressure on leaders to shore up growth, help business
## China ##
China's recovery losing steam, adding to pressure on leaders to shore up growth, help business
China Resources Profit Drops 61% on Costs, Weak Consumption
"China Resources Enterprise Ltd. (291)'s first-quarter profit fell 61 percent as the nation's second-largest hypermarket operator was hurt by higher costs and a government push to curtail public expenditures."
"China Resources Enterprise Ltd. (291)'s first-quarter profit fell 61 percent as the nation's second-largest hypermarket operator was hurt by higher costs and a government push to curtail public expenditures."
Chinese coal companies struggle to cut costs
## UK ##
Police being trained to use water cannon ahead of potential summer clashes
## UK ##
Police being trained to use water cannon ahead of potential summer clashes
More than a million poorer families forced to sacrifice essentials like food to meet soaring rental costs
HS2 rail project has £3.3bn funding shortfall, warns spending watchdog
HS2 rail project has £3.3bn funding shortfall, warns spending watchdog
## US ##
Holder: Justice probe of IRS could include civil rights violations, potential false statements
IRS faces class action lawsuit over theft of 60 million medical records
Food Bank distributed record number of weekend backpacks to hungry kids
Food Bank distributed record number of weekend backpacks to hungry kids
A New 'Smart Rifle' Decides When To Shoot And Rarely Misses
"A new rifle goes on sale on Wednesday, and it's not like any other. It uses lasers and computers to make shooters very accurate. A startup gun company in Texas developed the rifle, which is so effective that some in the shooting community say it should not be sold to the public."
Gasoline shoots up 30 cents to $4.19 a gallon in Minnesota"A new rifle goes on sale on Wednesday, and it's not like any other. It uses lasers and computers to make shooters very accurate. A startup gun company in Texas developed the rifle, which is so effective that some in the shooting community say it should not be sold to the public."
"It's going to be a mighty expensive summer. There is no relief in sight."
And finally…
