Thursday, November 29, 2012
News Links, November 29-30, 2012
## Global Ponzi meltdown/House of Cards ##
Bankia Details Deep Cuts, Sees EUR19 Bln Loss This Year
Bankia Details Deep Cuts, Sees EUR19 Bln Loss This Year
Energy glut takes toll on western coffers
"With oil backing up behind full pipelines and Canadian energy companies selling their most lucrative product at large discounts, corporate earnings are tumbling far below expectations."
"With oil backing up behind full pipelines and Canadian energy companies selling their most lucrative product at large discounts, corporate earnings are tumbling far below expectations."
There isn't an energy glut, but there is collapsing demand. -- RF
## Airline Death Spiral ##
Airlines cut First Class as demand "evaporates"
"First Class cabins on new aircraft are likely to become a thing of the past as dwindling passenger demand has seen airlines start opting for economy and business class-only seat configurations on new deliveries, leading aviation executives told Arabian Business."
Pakistan International Airlines losses soar to Rs154bn
Malaysia Airlines Registers Profit After Six Quarters Of Losses
"First Class cabins on new aircraft are likely to become a thing of the past as dwindling passenger demand has seen airlines start opting for economy and business class-only seat configurations on new deliveries, leading aviation executives told Arabian Business."
Pakistan International Airlines losses soar to Rs154bn
Malaysia Airlines Registers Profit After Six Quarters Of Losses
## Fault lines/flashpoints/powder kegs/military/war drums ##
A Second Wave of Genocide Looms in Congo, with Susan Rice on Point
Chinese police plan to board ships in disputed seas
"Police in the southern Chinese island province of Hainan will board and search ships which enter into what China considers its territorial waters in the disputed South China Sea, state media said on Thursday, a move which could raise tensions further."
"Police in the southern Chinese island province of Hainan will board and search ships which enter into what China considers its territorial waters in the disputed South China Sea, state media said on Thursday, a move which could raise tensions further."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Tunisians wounded in Siliana clashes over unemployment
Protesters threaten operation of Western Libya's main oil refinery
"Protests outside western Libya's main oil refinery could shut down operations, causing a shortage of petrol in the country's capital, the deputy oil minister said."
"Protests outside western Libya's main oil refinery could shut down operations, causing a shortage of petrol in the country's capital, the deputy oil minister said."
Analyst: Risk seen emerging for Libyan oil
"Political and national security concerns in post-revolution Libya, coupled with a shift to other forms of crude, may deter investors, an analyst said."
"Political and national security concerns in post-revolution Libya, coupled with a shift to other forms of crude, may deter investors, an analyst said."
Just the other day I mentioned that it might not pay to build a pipeline for the Bakken. -- RF
An analysis of World Energy Outlook 2012 (Kjell Aleklett)
"To summarise my analysis of the IEA's WEO-2012 report, I find it very hard to understand how IEA can smile and say 'don't worry, be happy'."
World Energy Report 2012 (Michael Klare)
"Given the hullabaloo about rising energy production in the U.S., you would think that the IEA report was loaded with good news about the world's future oil supply. No such luck. In fact, on a close reading anyone who has the slightest familiarity with world oil dynamics should shudder, as its overall emphasis is on decline and uncertainty."
## Infrastructure scavenging ##
NC Metal Thieves Turning Into Graverobbers In Rural Areas
"In addition to the manhole covers, fire hydrants, catalytic converters, street signs, and other items being stolen in the cities by metal thieves, rural areas across North Carolina are now being hit as well."
Thousands left without phone lines
## Got food? ##
Almost 70 Percent Of Pork In Stores Unsafe, Consumer Reports Says (US)
## Got food? ##
Almost 70 Percent Of Pork In Stores Unsafe, Consumer Reports Says (US)
The article says nothing about energy consumption. And why should we eat summer veggies in the winter? -- RF
Rising Food Prices May Not Equate To Higher Profits for Farmers
## Lifestyle Solutions ##
New York Blackout Kills Phones, Revives Ancient Art Of Actually Speaking To People
Rising Food Prices May Not Equate To Higher Profits for Farmers
## Lifestyle Solutions ##
New York Blackout Kills Phones, Revives Ancient Art Of Actually Speaking To People
## Environment/health ##
Deadly 'superbugs' invade U.S. health care facilities
As nations haggle, global carbon cut targets get impossibly deep
"As the nations of the world struggle in Doha to agree even modest targets to tackle global warming, the cuts needed in rising greenhouse gas emissions grow ever deeper, more costly and less likely to be achieved."
As nations haggle, global carbon cut targets get impossibly deep
"As the nations of the world struggle in Doha to agree even modest targets to tackle global warming, the cuts needed in rising greenhouse gas emissions grow ever deeper, more costly and less likely to be achieved."
After years of research, hog-waste disposal still reeks
2012 Drought Will Probably Last Through Winter In The Midwest, Says U.S. Monitor
## Intelligence/propaganda/security/internet/cyberwar ##
Anonymous threatens Morsy with cyberwarfare
U.N. summit may usher in more Internet regulations
2012 Drought Will Probably Last Through Winter In The Midwest, Says U.S. Monitor
## Intelligence/propaganda/security/internet/cyberwar ##
Anonymous threatens Morsy with cyberwarfare
U.N. summit may usher in more Internet regulations
Oh, and did I mention crumbling infrastructure? -- RF
## Japan ##
Bank of Japan Posts Whopping ¥233 Billion Loss As Its Soaring Balance Sheet Hits Record ¥156 Trillion
Power Rate Hikes Would Lift Firms' Costs By Y870bn
"Businesses could face an added cost burden of about 870 billion yen if five electric utilities raise rates for corporate customers by around 20%, estimates Mizuho Securities Co."
"Businesses could face an added cost burden of about 870 billion yen if five electric utilities raise rates for corporate customers by around 20%, estimates Mizuho Securities Co."
Abe: Let retired SDF warships defend Senkakus
"Liberal Democratic Party leader Shinzo Abe proposed Thursday using retired Self-Defense Forces vessels to defend the uninhabited Senkaku Islands."
"Liberal Democratic Party leader Shinzo Abe proposed Thursday using retired Self-Defense Forces vessels to defend the uninhabited Senkaku Islands."
## China ##
Indebted Dragon: The Ponzi Scheme Driving China's Construction Economy
China to tighten laws on land grabs in rural stability push
"China's cabinet vowed on Wednesday to tighten laws on the expropriation of farmland, warning that the problem risked fuelling rural unrest and undermining the country's food security."
China to tighten laws on land grabs in rural stability push
"China's cabinet vowed on Wednesday to tighten laws on the expropriation of farmland, warning that the problem risked fuelling rural unrest and undermining the country's food security."
NGO: China at the center of global illegal timber trade
Is China's Race to Build the World's Tallest Building a Bad Omen?
Is China's Race to Build the World's Tallest Building a Bad Omen?
Government accused of forcing consumers to subsidise some of Britain's biggest corporations after Energy Bill is published
## US ##
Moody's cuts HP long-term debt rating to Baa1
## US ##
Moody's cuts HP long-term debt rating to Baa1
Obama Urged to Declare Emergency for Mississippi River
"Shippers and lawmakers are pressuring President Barack Obama to declare a federal emergency along the Mississippi River, citing potential 'catastrophic consequences' in the Midwest if barge traffic is curtailed by low water on the nation's busiest waterway."
Sales of New U.S. Homes Fell 0.3% in October
"Builders in the U.S. sold fewer new homes than forecast in October and purchases were revised down for the prior month, highlighting the hurdles facing a rebound in the industry at the heart of the financial crisis."
"Shippers and lawmakers are pressuring President Barack Obama to declare a federal emergency along the Mississippi River, citing potential 'catastrophic consequences' in the Midwest if barge traffic is curtailed by low water on the nation's busiest waterway."
Sales of New U.S. Homes Fell 0.3% in October
"Builders in the U.S. sold fewer new homes than forecast in October and purchases were revised down for the prior month, highlighting the hurdles facing a rebound in the industry at the heart of the financial crisis."
Peabody to close Illinois coal mine
"Mining firm Peabody Energy Corp. said it would close a coal mine in Southern Illinois, citing diminishing returns and safety concerns."
"Mining firm Peabody Energy Corp. said it would close a coal mine in Southern Illinois, citing diminishing returns and safety concerns."
And finally…
The importance of checking references: Ukraine Sign $1.1 Billion LNG Deal with the Wrong Man
