Saturday, April 14, 2012


News Links, April 14, 2012, evening edition

## Global Ponzi meltdown/House of Cards ##
Auto Supplier Warns of Resin Shortage Disrupting Output
"The global automotive industry faces a 'severe' shortage of a resin used to make fuel and brake components that may interrupt production 'in the next few weeks,' according to TI Automotive Ltd."
Italian steel galvanizing industry may see output falling by up to 20pct in the next few years

## Airline Death Spiral ##
EgyptAir reports 75% profit decrease for 2011, eyes new routes in 2013
Airlines see profits dive by 50 percent (China)
Airlines Lead ADR Index Drop on Slowing Economy: China Overnight

## Fault lines/flashpoints/powder kegs/military/war drums ##
In War Against Iran, U.S. Firepower Would Vie With Guerrilla Tactics
Chinese supertankers boost Iran crude fleet ahead of oil embargo (RT)
"China is set to help Iran counter the EU oil embargo that's due to come into force in July. Beijing will deliver the first of 12 huge crude carriers to Iran next month to expand its tanker fleet, as many firms refuse to transport Iranian oil due to western sanctions."
Iranian importers buy 50,000 T feed wheat - trade
Robbers target lorries transporting expensive goods (India)
"Highway robberies are on the rise in Madurai and its vicinity in the recent past. The robbers have been targeting heavy vehicles transporting expensive consignments such as copper and fast moving consumer goods."
Chinese Fishing Boats Leave Standoff Scene

## Global unrest/mob rule/angry people/torches and pitchforks ##
Police break rally at Mindanao Energy Summit in Davao City
"At least 5 people were injured Friday after policemen forcibly dispersed a huge group of rallyists who were protesting in front of a hotel in Davao City where President Benigno Aquino spoke at the Mindanao Energy Summit…"
"The Summit was held to discuss solutions to the current power crisis in Mindanao where many areas are suffering from up to 8 hours of blackout every day due to acute shortage of electricity."

## Energy/resources ##
Global Oil Production Update: EIA Revises Two Decades of Oil Data (Gregor Macdonald)
"Since 2005, despite a phase transition in prices, global oil production has been trapped below a ceiling of 74 mbpd (million barrels per day). New production from new fields and new discoveries comes on line, but, it has not been at a rate fast enough to overcome declines from existing fields. Overall, global decline has been estimated at a minimum of 4% per year and as high as 6+% a year. Given that new oil resources are developed and flow at much slower rates, the existing declines present a formidable challenge to the task of increasing supply. I see no set of factors, in combination, that would take global production of crude oil higher in 2012, or next year, or thereafter."
Water crisis worsens due to prolonged power cut at Dhabeji (Pakistan)
No electricity = no water. -- RF
India to see massive coal shortage affecting power plants soon
Khartoum panics over fuel shortage fears
Rising energy costs may force more industries to collapse in Nigeria
"Rising energy costs due to worsening electricity supply may force more industries in Nigeria to collapse, the Lagos Chamber of Commerce and Industry (LCCI) has warned.
"The local media Friday quoted Chamber President Goodie Ibru as saying that industries rely on power generators to operate, despite the high cost of diesel, which is sold for about 165 naira (about US$1) per litre."

## Infrastructure scavenging ##
EU railway theft an epidemic problem as economic crisis stagnates

## Environment/health ##
Severe drought declared for most of Long Island

## Intelligence/security/internet/systemic breakdown ##
Stuxnet worm reportedly planted by Iranian double agent using memory stick

## US ##
Frugality Fatigue Spurs Americans to Trade Up
Oh, brother. I see riots in the offing. -- RF
Budget woes force NASA to redraw plans to Mars
Gas prices squeeze Phoenix-area cities, schools

And finally… Tennessee Senate Approves Bill To Warn Students That Hand-Holding Is A 'Gateway Sexual Activity'

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