Wednesday, March 09, 2011


News Links, March 10, 2011

## Global economic meltdown ##
Oil markets brace for Saudi 'rage' as global spare capacity wears thin (Ambrose Evans-Pritchard)
"Those exhorting OPEC to boost output should be careful what they wish for. The cartel card can be played once only, and it risks exposing the fragility of the global energy system if the Gulf powers are seen struggling to deliver."
Pimco's Biggest Fund Dumps Treasury Bond Holdings
"Pimco's Total Return Fund, the world's biggest bond fund, has dumped all U.S. government-related securities, including U.S. Treasurys and agency debt."
Europe May Face More Ratings Cuts, Greek Default, Standard & Poor's Says
Sovereign Debt Downgrades Open IMF Door
China adviser says Beijing should buy more gold
Is China's economy slowing too fast?
Next Stop $50 for Silver
India Car Sales Rise to a Monthly Record
German Public Doesn't Get the Euro Zone: Ex-Irish PM
China and Russia drive growth in world's billionaires
The Real Redistribution of Wealth: Forbes 400 Triple Wealth in 5 years
World's richest are almost $1 trillion richer
Greece Reaches Peak Desperation As It Tries To Sell "Diaspora Bonds" To Delay Bankruptcy
Greek Unemployment Surges From 13.9% In November To 14.8% In December

## Libya ##
Rudd pushes for no-fly zone over Libya
UN paves way for no-fly zone as Nato steps up surveillance of Libya
Hillary Clinton: Libya No-Fly Zone Must Have International Support, Not Be U.S. Led
EU foreign affairs chief calls on world to shun Gaddafi
Major Refinery Shut Down In Az Zawiyah
Libya oil tanks seen as 'time bomb'
"Desperate Gaddafi might hit oil facilities in an attempt to fend off encroaching rebels, sparking a human catastrophe."
Qaddafi Strikes Central Oil Ports, Posts Reward for Rebel Leader
U.S. Sees Stalemate Emerging in Libya
Tribes Regroup As Gadhafi's Control Is Threatened
Libyan rebels call for support from U.S., allies
The Endgame Is Coming: Libyan State TV Says Rebels Blew Up Ras Lanuf Oil Tank As They Retreat
Libyan general joins rebels in Zawiya

## Fault lines/flashpoints/military ##
Saudis free Shia cleric, but more unrest looms
Saudi Shi'ites hold new protest in oil province
Saudi foreign minister warns against protests
"Saudi Arabia's foreign minister said today that dialogue — not protests — is the way to bring reform and warned that the oil-rich nation will take strong action if activists take to the streets."
Oil Markets Brace for More Volatility as 'Day of Rage' Looms in Saudi Arabia
Unrest Makes U.S. Rethink Arms Trade In Arab World
UAE activists demand direct elections
Killing hardens opposition resolve in Yemen
'Nerve gas' used on Yemen protesters
Egypt sectarian strife kills 13, army sees threat
Factbox: Protests in Middle East and North Africa
U.N. to publish Sudan report that infuriated China
'South African police lost 20,000 guns'
Ecuador's president: US must respect Latin America's own path
Japan government official slams reported China drilling in gas field
Even if true, there is little the Japanese can do about it. -- RF
DPJ lawmaker signs declaration on S. Korea claim to Takeshima
Very interesting revelation. IMHO, the Japanese and Koreans are finding themselves pressed to resolve this issue as they are being thrown into each other's arms on geopolitical/defense issues. -- RF
Tanker pirates to be flown to Japan
This is going to accomplish... what? Piracy is the wave of the future. Governments need to resign themselves to the new normal. -- RF

## Energy/resources ##
US says Saudi oil boost can't keep crude under $100
Massive wind integration poses challenges to power grid operations (Philippines)
Building a lot of renewable capacity is one thing; bringing it on line is quite another. -- RF
Oil Production Fears Increase as Unrest Spreads to Oman
CEO Of Exxon: I'm Not Losing Sleep Over The Oil Supply
Why Brent, Not US Crude, Is a Better Gauge for Oil Prices
Gas crunch crisis looms for Middle East
"The Middle East gas industry is waking up to the reality that it increasingly has to explore for gas in hard-to-reach deposits and formations amid rising demands from domestic power, water and petrochemicals sectors."
Japan Gas Price At Pump Hits Highest Level In 28 Months: Report
'Iran gas export to Europe sets record'
Two US nuclear projects put back 18 months

## Got food? ##
Eco-Farming Could Double Food Output of Poor Countries, Says UN

## Environment/health ##
Mechanical engineers raise concern about over-population
"A report by the Institution of Mechanical Engineers finds the world is hurtling towards population overload placing billions at risk of hunger, thirst and slum conditions. This is the first report of its kind by the engineering profession."

## Intelligence/security/internet/systemic breakdown ##
Hacker group vows 'cyberwar' on US government, business
"'It's a guerilla cyberwar — that's what I call it,' said Barrett Brown, 29, who calls himself a senior strategist and 'propagandist' for Anonymous. He added: 'It's sort of an unconventional, asymmetrical act of warfare that we've involved in. And we didn't necessarily start it. I mean, this fire has been burning.'"
Task Force to Measure Potential Cyberattack Impact on US Power Grid
Newly Obtained Homeland Security Documents Reveal Radical Shift In Internet Policy
DHS Concludes They Have Authority to Monitor Political Activities of Advocacy Groups
U.S. Panel to Probe Phony Electronics in Supply Chain

## China ##
China NDRC: Won't Ration Power To Achieve Energy Intensity Target

## UK ##
Petrol prices hit a record-breaking £6 per gallon
The supermarket growing food on its roof
Squatters move into Gaddafi house
"A group calling themselves 'Topple the Tyrants' occupied the £10 million house in Hampstead Garden Suburb in north London today."

## US ##
A Deep Freeze Hits Muni-Bond Market (WSJ)
"Municipal-bond issuance is on pace for its lowest quarter in at least 11 years following a rush of borrowing late last year and as government borrowers struggle to get their budgets in order."
Gundlach Sees Munis Dropping Another 15-20%, "By The Time All Muni Shoes Drop It Will Look Like Imelda Marcos' Closet"
What can I say? Except that all those muni-bond bulls who were dumping on Meredith Whitney had better be getting ready to feast on crow. -- RF
Primary Dealers Flip 50% Of Another Bond Issued Two Weeks Ago Back To Fed
Why do America's police need an armored tank?
"America's most in-demand police vehicle is a ten-officer 16,000-pound armored tank that takes bullets like Superman and drives 80 mph. The federal government buys dozens each year for local police departments."
California sees slowest growth since Depression
All My (Economist) Friends Get High: California Jobs (Gregor Macdonald)
Is a US debt crisis two years away? Commission chairs call for a fix 'now.'
Ohio Gov. On Changes: 'You Ain't Seen Nothing Yet"
Nation's second-largest high school gym to be closed
Duncan: 82 Percent Of US Schools May Be Labeled 'Failing' Under No Child Left Behind Policies
Poll: Most feel Muslim congressional hearings are appropriate
BofA Segregates Almost Half of its Mortgages Into 'Bad Bank'
Analysis: Think $100 U.S. Oil Is Bad? It's Really Much Worse
Billions of barrels of untapped U.S. oil

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