Tuesday, January 31, 2012
News Links, February 1, 2012
## Global economic meltdown ##
Eurozone unemployment hits new record
Korean Air swings to net loss on fuel costs, won
"Flag carrier Korean Air Lines Co. said Tuesday it swung to a consolidated net loss last year because of a surge in jet fuel expenses, a weaker local currency and sluggish cargo demand amid economic uncertainties around the globe, though its fourth-quarter net profit jumped due to foreign exchange gains."
Is World Trade Falling Like A Lead Balloon Minus Terminal Velocity? Alarming Collapse of Baltic Dry Index
Korean Air swings to net loss on fuel costs, won
"Flag carrier Korean Air Lines Co. said Tuesday it swung to a consolidated net loss last year because of a surge in jet fuel expenses, a weaker local currency and sluggish cargo demand amid economic uncertainties around the globe, though its fourth-quarter net profit jumped due to foreign exchange gains."
Is World Trade Falling Like A Lead Balloon Minus Terminal Velocity? Alarming Collapse of Baltic Dry Index
Hanjin's 2011 Container Losses Hit $487 Million
"Carrier is first of many expected to report losses for year"
"Carrier is first of many expected to report losses for year"
Spain's lost generation: youth unemployment surges above 50 per cent
"More than half of young Spaniards are out of work, according to fresh statistics, signalling a lost generation that has been hit hardest by Spain's economic woes, as the total number of unemployed surged above five million."
"More than half of young Spaniards are out of work, according to fresh statistics, signalling a lost generation that has been hit hardest by Spain's economic woes, as the total number of unemployed surged above five million."
Households' insurance bills to jump 13% (Australia)
"Households will be hit with double-digit percentage jumps for insurance for a second year as insurers restore profits after the industry's worst year on record for disaster claims, a survey finds."
"Households will be hit with double-digit percentage jumps for insurance for a second year as insurers restore profits after the industry's worst year on record for disaster claims, a survey finds."
"Keenly aware that youth unemployment has been a driving factor in revolutions elsewhere in the Middle East and North Africa, and that half of its own population is 18 or younger, the government is taking steps to change a mindset left from the days when the oil kingdom's citizens were few and jobs were many: that Saudi Arabia's citizens take the cushiest jobs or take no jobs at all."
European Bailout Infographic: Presenting The Truckloads Of Cash Needed To Rescue The Insolvent PIIGS
## Fault lines/flashpoints/powder kegs/military/war drums ##
Syria forces retake Damascus suburbs; showdown at U.N.
Sea trafficking report reveals how ships move guns and drugs
Sea trafficking report reveals how ships move guns and drugs
"President Barack Obama will soon get regular, albeit incomplete, reports on how oil markets are coping ahead of broader sanctions onIran that could help him justify easing off sanctions to prevent a politically damaging jump in crude prices."
Global "great power politics" returns to Mideast
"With Russia sending warships to discourage foreign intervention in Syria, and China drawn more deeply into Iran's confrontation with the West, 'great power' politics is swiftly returning to the Middle East."
"With Russia sending warships to discourage foreign intervention in Syria, and China drawn more deeply into Iran's confrontation with the West, 'great power' politics is swiftly returning to the Middle East."
Pentagon To Begin Talks With Iraq on New Defense Agreement
"The Obama administration is seeking to base more US troops in Iraq while propping up the increasing autocratic Maliki regime"
"The Obama administration is seeking to base more US troops in Iraq while propping up the increasing autocratic Maliki regime"
Iran 'willing to stage attacks on US soil'
"America's top intelligence official has warned that Iran was actively willing to stage attacks inside the US in a change of its policy on use of force overseas."
"America's top intelligence official has warned that Iran was actively willing to stage attacks inside the US in a change of its policy on use of force overseas."
I'm shocked that Iran might copy the US! -- RF
"As the European Union prepares to ban Iranian oil and the United States turns the screw on payments, oil executives and policymakers say China and Russia stand to gain the most and Western oil firms and consumers may emerge the biggest losers."
Iran's Oil, Tanker Firms Targeted for Sanctions
## Global unrest/mob rule/angry people/torches and pitchforks ##
China steps up surveillance of Tibetan monasteries
## Global unrest/mob rule/angry people/torches and pitchforks ##
China steps up surveillance of Tibetan monasteries
## Energy/resources ##
Forget the world ending, $5 gas could be the real plague of 2012 according to oil big shot (US)
Jordan hikes electricity price after Egypt gas cut
"Jordan said on Monday it will raise electricity prices this week by between nine and 17 percent to offset losses caused by cut-offs in Egyptian gas supplies."
Matson raises Hawaii fuel surcharge to 45.5 percent because of rising bunker fuel prices
"The largest shipping company that carries goods to Hawaii from the U.S mainland is raising its fuel surcharge after recently decreasing it three times."
"Jordan said on Monday it will raise electricity prices this week by between nine and 17 percent to offset losses caused by cut-offs in Egyptian gas supplies."
Matson raises Hawaii fuel surcharge to 45.5 percent because of rising bunker fuel prices
"The largest shipping company that carries goods to Hawaii from the U.S mainland is raising its fuel surcharge after recently decreasing it three times."
Kingdom capable of handling any future oil shortage: Al-Naimi
"Minister of Petroleum and Mineral Resources Ali Al-Naimi said on Monday that Saudi Arabia will continue to be a reliable, steady and dependable supplier of energy to the world."
"Minister of Petroleum and Mineral Resources Ali Al-Naimi said on Monday that Saudi Arabia will continue to be a reliable, steady and dependable supplier of energy to the world."
So relax. Stagnant world oil production for 7 years running just means the market is "well supplied." -- RF
The CIA of all organizations should know that KSA has little spare capacity. -- RF
Drilling forecast cut on labour shortage (Canada)
"An oil and gas industry group is scaling back its drilling activity forecast for 2012, in part because there aren't enough workers who have the know-how necessary to drill big, complicated wells."
"An oil and gas industry group is scaling back its drilling activity forecast for 2012, in part because there aren't enough workers who have the know-how necessary to drill big, complicated wells."
"High oil prices and declining production from existing fields have been prompting oil companies to explore technically complex and remotely located reserves. As a result, oilfield services companies like Schlumberger are positioning themselves to benefit from the long-term trends shaping the energy industry."
And unfortunately it's going to get much worse. -- RF
Either that, or have the majority of humanity live in grinding poverty. -- RF
"Statoil said it was preparing to install a platform at the Luva natural gas field in the Norwegian Sea. The field is in roughly 4,200 feet of water on the Norwegian continental shelf."
"The deteriorating situation in Iraq is leading some analysts to worry that the country may not be able to meet its lofty goals for rapidly ramping up oil production."
CNN Money is just figuring out what alert people saw a long time ago. -- RF
## Environment/health ##
Cadmium Spill Threatens Water Supply (China)
Cadmium Spill Threatens Water Supply (China)
## Intelligence/security/internet/systemic breakdown ##
Is the cyberwarfare arms race for real? Survey of world experts says it is.
"A majority of the word's top cybersecurity experts surveyed say a cyberwarfare arms race is in full swing. US readiness lags behind that of some smaller countries, the survey found."
Privatizing of Gains and Socializing of Losses; You Want the News? From Where? (Mish)
Furnace malfunction hobbles Aomori spent nuke fuel reprocessing plant
"A furnace malfunction at a nuclear fuel reprocessing plant here has stalled a planned trial run of the facility, throwing the future of Japan's nuclear cycle policy into doubt."
"A furnace malfunction at a nuclear fuel reprocessing plant here has stalled a planned trial run of the facility, throwing the future of Japan's nuclear cycle policy into doubt."
## China ##
Short China: Its commodities bubble is set to pop
China's Oil Demand Reaches Records Despite Slowing Growth
China's Oil Demand Reaches Records Despite Slowing Growth
"Assailants in Egypt kidnapped 25 Chinese workers on Tuesday, even as tensions appeared to rise between China and Sudan over Chinese nationals held by rebels there.The abductions underscored a hard truth for Beijing: As China has extended its investment and presence into the world's trouble spots, its people have become targets."
## UK ##
Hundreds of gold-plated pension schemes close, says PPF
"The number of final salary workplace pension schemes in the UK has fallen dramatically over the last year, as hundreds of companies close the gold-plated retirement plans and move to cheaper schemes."
Army to cut 20,000 jobs two years earlier than expected
Borrowers pay back £400m in December
"The number of final salary workplace pension schemes in the UK has fallen dramatically over the last year, as hundreds of companies close the gold-plated retirement plans and move to cheaper schemes."
Army to cut 20,000 jobs two years earlier than expected
Borrowers pay back £400m in December
## US ##
U.S. set for fourth year of $1 trillion-plus deficit: CBO
"The United States is headed for a fourth straight year with a $1 trillion-plus budget deficit, congressional forecasters said on Tuesday, giving Republicans ammunition to hammer President Barack Obama's spending record in November's elections."
"The United States is headed for a fourth straight year with a $1 trillion-plus budget deficit, congressional forecasters said on Tuesday, giving Republicans ammunition to hammer President Barack Obama's spending record in November's elections."
The Biggest Holders of US Government Debt
State bank idea gains support (Washington)
Bank Failures: 7 So Far in 2012
State bank idea gains support (Washington)
Bank Failures: 7 So Far in 2012
Monday, January 30, 2012
News Links, January 31, 2012
## Global economic meltdown ##
World lacks enough food, fuel as population soars: U.N.
"The world is running out of time to make sure there is enough food, water and energy to meet the needs of a rapidly growing population and to avoid sending up to 3 billion people into poverty, a U.N. report warned on Monday."
World lacks enough food, fuel as population soars: U.N.
"The world is running out of time to make sure there is enough food, water and energy to meet the needs of a rapidly growing population and to avoid sending up to 3 billion people into poverty, a U.N. report warned on Monday."
Dubai hotel owners look to listing sites to offload assets
"Dubai hotel owners are increasingly turning to listings websites to source potential buyers for their properties as they struggle to offload assets in the city's glutted hospitality market."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Activists: Assad's forces regain Damascus suburbs
"Dubai hotel owners are increasingly turning to listings websites to source potential buyers for their properties as they struggle to offload assets in the city's glutted hospitality market."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Activists: Assad's forces regain Damascus suburbs
Saudis may seek nuclear deterrent
"The arrival yesterday of a senior United Nations team in Tehran has raised hopes that Iran may be in the mood to talk about its nuclear program. But should the Islamic republic develop a nuclear weapon, there are growing fears that neighbouring Saudi Arabia will turn to Pakistan for its own bomb."
"The arrival yesterday of a senior United Nations team in Tehran has raised hopes that Iran may be in the mood to talk about its nuclear program. But should the Islamic republic develop a nuclear weapon, there are growing fears that neighbouring Saudi Arabia will turn to Pakistan for its own bomb."
"Critics point to an imbalance in what they see as the new 'Scramble for Africa'. But the prospect of growing Chinese economic influence is welcomed by African leaders, who see Beijing as a partner to help build their economies at a time when Europe and the United States are mired in economic turmoil."
"As part of its 'Look East' policy, India has been increasing strategic ties with countries such as Singapore, Japan, Vietnam, Indonesia and Malaysia."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Occupy London Moves Into Iraqi Rafidain Bank After UBS Eviction
Occupy London Moves Into Iraqi Rafidain Bank After UBS Eviction
## Energy/resources ##
China, Japan scramble for oil as Sudan shuts fields
"The shutdown in Sudanese oil supply could drive up already record premiums on spot crude markets as top Sudan customers China and Japan scramble for alternatives even as they weigh the impact on oil flows of international sanctions on Iran."
"The shutdown in Sudanese oil supply could drive up already record premiums on spot crude markets as top Sudan customers China and Japan scramble for alternatives even as they weigh the impact on oil flows of international sanctions on Iran."
"Several Asian countries are expressing an unwillingness to join the United States and Europe Union in blocking oil imports from Iran in order to pressure Tehran over its disputed nuclear program."
Saudi to lead rental power generation
"Saudi Arabia will lead the Middle East in the demand for rental power generators, a generator manufacturer has said, as it predicted a 20 per cent growth for the industry in 2012."
This will create still more upward pressure on diesel fuel prices. -- RF
"Saudi Arabia will lead the Middle East in the demand for rental power generators, a generator manufacturer has said, as it predicted a 20 per cent growth for the industry in 2012."
This will create still more upward pressure on diesel fuel prices. -- RF
Global Oil Production Update: A Strange Future Has Arrived (Gregor Macdonald)
The only way nuclear could be "cheaper" is by leaving out the astronomical backend costs. -- RF
PSALM to start bidding out four power barges (Philippines)
They're diesel-powered! -- RF
South Africa Says 2012 Is Peak For Energy Shortage Risks
## Got food? ##
Extreme Heat Hurts Wheat Yields As World Warms: Study
South Africa Says 2012 Is Peak For Energy Shortage Risks
## Got food? ##
Extreme Heat Hurts Wheat Yields As World Warms: Study
## Intelligence/security/internet/systemic breakdown ##
Secretary Napolitano Unveils National Strategy for Global Supply Chain Security
CIA Claims Publication of Bin Laden Death Photos Would 'Trigger Violence'
CIA Claims Publication of Bin Laden Death Photos Would 'Trigger Violence'
Hey Judicial Watch, give it a rest. This drama has been Theater of the Absurd from the get-go. OBL suffered long from kidney failure, and the former head of the Pakistani ISI has stated that OBL died of illness years ago. The compound where OBL supposedly lived included nothing among its meds for someone with kidney failure, and there was no dialysis machine. The most absurd claim of all is that OBL lived in the village for years without anyone knowing. What a laugh! Anyone who has lived in a village society knows that in such a society anonymity and secrets are impossible. -- RF
Airline passengers hit by computer crash
Airline passengers hit by computer crash
Say NO to ACTA (video)
A 30% decline by 2060... but economic collapse and mass starvation will come long before that. -- RF
Toyota's global sales hit a bump / March 11 disaster, strong yen knock automaker from top spot in 2011
Kyushu Elec to restart oil-fired unit in May
Kyushu Elec to restart oil-fired unit in May
"Southern Japan utility Kyushu Electric Power Co said on Monday it would restart an oil-powered unit that it had planned to scrap, to help cover the closure of its nuclear capacity for maintenance."
Oil-fired plants run on fuel oil, but note that the utility is also going to install diesel generators. Add this to the quickly growing diesel-fueled "rental power" throughout the world. -- RF
## China ##
Funds face tougher conditions in 2012
China fuel prices hit trigger point for a hike
"The increase in crude oil prices that China's gasoline and diesel prices are based on has topped a trigger point of 4 percent, an industry estimate showed, suggesting Beijing may consider raising fuel prices after its last hike in April."
Chinese Buying Gold "Like Cheap Cabbage"
China premier downplays debt woes
"China's government debt is under control and remains at safe levels, Chinese Premier Wen Jiabao said in comments released Monday, even as the National Audit Office highlighted potential risks for financial sectors this year."
"China's government debt is under control and remains at safe levels, Chinese Premier Wen Jiabao said in comments released Monday, even as the National Audit Office highlighted potential risks for financial sectors this year."
## US ##
"Unit 2 at the Byron plant, about two hours northwest of Chicago, shut down automatically after a 'loss of offsite power' at 10:18 a.m. CT (11:18 ET), the U.S. Nuclear Regulatory Commission reported. Unit 1 continues to operate at full power, with diesel generators providing electricity to the plant's equipment."
USW tells U.S. refinery workers to prepare for strike
"The United Steelworkers union told U.S. refinery workers to prepare to offer safe and orderly refinery shutdowns prior to a strike that could begin as early as 12:01 a.m. Wednesday, sources familiar with the union's preparations said on Sunday."
Why the American dream could come to an end
"The United Steelworkers union told U.S. refinery workers to prepare to offer safe and orderly refinery shutdowns prior to a strike that could begin as early as 12:01 a.m. Wednesday, sources familiar with the union's preparations said on Sunday."
Why the American dream could come to an end
"Young American workers are not expecting Social Security or traditional corporate pensions to provide for their retirement."
Newt's moon colony: What would it cost?Sunday, January 29, 2012
News Links, January 30, 2012
## Global economic meltdown ##
Eurozone crisis: angry Greeks condemn EU plot to control its finances
"German plan to install commissioner in Athens with veto powers over the Greek budget dismissed as 'laughable'"
Eurozone crisis: angry Greeks condemn EU plot to control its finances
"German plan to install commissioner in Athens with veto powers over the Greek budget dismissed as 'laughable'"
"Christine Lagarde, the head of the International Monetary Fund, yesterday heaped more pressure on Germany over its handling of the eurozone crisis, effectively calling on Berlin to increase state spending in order to restore growth to the rest of the single currency bloc."
"A deepening sovereign debt crisis in the euro zone and slowing economic growth are forcing a number of steelmakers to shut or reduce steel capacity."
Dubai is another mega-crash waiting to happen. -- RF
## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran says to stop some oil sales, inspectors visit
Iran says to stop some oil sales, inspectors visit
"Around 2,000 Syrian troops backed by tanks launched an assault to retake Damascus suburbs from rebels on Sunday, activists said, a day after the Arab League suspended its monitoring mission in Syria because of worsening violence."
Gunmen attack police station in Nigeria's Kano
"Gunmen bombed a police station on Sunday outside Nigeria's second city Kano, the police and witnesses said, leading to an hour of gunbattles in a region plagued by attacks from Islamist sect Boko Haram."
"Gunmen bombed a police station on Sunday outside Nigeria's second city Kano, the police and witnesses said, leading to an hour of gunbattles in a region plagued by attacks from Islamist sect Boko Haram."
## Global unrest/mob rule/angry people/torches and pitchforks ##
What's next for Occupy Wall Street? Activists target foreclosure crisis.
"As the protest movement heads into spring, Occupy Wall Street activists are interrupting foreclosure auctions and helping families re-occupy their homes."
"As the protest movement heads into spring, Occupy Wall Street activists are interrupting foreclosure auctions and helping families re-occupy their homes."
This is despicable behavior, but I did say that mobs and riots will come to the US. -- RF
Clashes erupt in Cairo during anti-army protest
"Hundreds of Egyptian protesters demanding an immediate end to military rule clashed on Sunday with rivals in civilian clothes outside central Cairo's state media building, the same place where 25 people were killed in a demonstration in October."
"Hundreds of Egyptian protesters demanding an immediate end to military rule clashed on Sunday with rivals in civilian clothes outside central Cairo's state media building, the same place where 25 people were killed in a demonstration in October."
## Energy/resources ##
Global refinery surplus narrowest since 2007 on Hovensa closure
Global refinery surplus narrowest since 2007 on Hovensa closure
Coal Starts Shutting Down Across US
"As a result of new air quality regulations, many coal-fired power plants are preparing to shut down across the Midwest"
Thwarted on US oil pipeline, Canada looks to China
"As a result of new air quality regulations, many coal-fired power plants are preparing to shut down across the Midwest"
Thwarted on US oil pipeline, Canada looks to China
## Infrastructure scavenging ##
Illegal Detroit scavengers use machines that help build city to tear it down
"The two documentarians who made the Oscar-nominated Jesus Camp, Heidi Ewing and Rachel Grady, have turned their cameras on Detroit, feeling it 'may well be a harbinger of things to come for the rest of the country.' In an excerpt of their new documentary, called Dismantling Detroit, Ewing and Grady look at a group of men who use American metal, in the form of vans and pickup trucks, to dismantle American metal, in the form of Detroit buildings."
Also watch the must-see video clip. -- RF
## Got food? ##
Bill Gates Warns Countries Need To Embrace GMOs Or Citizens Will Starve
Ukraine export curbs 'possible' too, says CWB
Bill Gates Warns Countries Need To Embrace GMOs Or Citizens Will Starve
Ukraine export curbs 'possible' too, says CWB
"Compelling new evidence from the US government's top bee expert that modern pesticides may be a major cause of collapsing bee populations led to calls yesterday for the chemicals to be banned."
Antibiotics Prove Powerless as Super-Germs Spread
"Antibiotics were once the wonder drug. Now, however, an increasing number of highly resistant -- and deadly -- bacteria are spreading around the world. The killer bugs often originate in factory farms, where animals are treated whether they are sick or not."
"Antibiotics were once the wonder drug. Now, however, an increasing number of highly resistant -- and deadly -- bacteria are spreading around the world. The killer bugs often originate in factory farms, where animals are treated whether they are sick or not."
## Intelligence/security/internet/systemic breakdown ##
How to easily circumvent Twitter's censorship
"Likely motivated to cut home expenses, more and more consumers are switching over to VoIP (Voice over Internet Protocol) and fiber optic phone systems. However, unlike traditional copper lines, these newer phone systems may lack the ability to maintain service indefinitely, which can leave consumers without access to friends, family or 911 in emergency situations."
"TEPCO said leakages were found at 14 locations, including the cooling system for the spent fuel pool at the No. 4 reactor, NTV reported. Cooling operations were suspended for 100 minutes on Sunday morning. Leakages were also found at the pump that sends water to the reactor cooling system."
No end in sight for Japan's deflation
## China ##
Beware of China's housing bubble
"The housing frenzy has driven prices so high, so fast, that a crash on the scale of the real estate collapse in Japan in the 1990s is a virtual certainty in China"
## China ##
Beware of China's housing bubble
"The housing frenzy has driven prices so high, so fast, that a crash on the scale of the real estate collapse in Japan in the 1990s is a virtual certainty in China"
## UK ##
U.K. To Develop Short-Range Weapon To Protect Warships
## US ##
Crumbling infrastructure: Pittsburgh area's aging locks and dams approach 'scary' status
State Emergency Managers Usher in IMF-style Austerity and Soviet-style Governance
Erin Brockovich reps ordered off school grounds
"Representatives of environmental crusader Erin Brockovich and an accompanying group of reporters were ordered off the grounds of Le Roy Junior-Senior High School on Saturday in an episode connected to a cluster of students there with unusual neurological symptoms."
The shrinking private equity world
"Community college leaders say it has become necessary to ration classroom seats like water in a drought."
Saturday, January 28, 2012
News Links, January 29, 2012
## Global economic meltdown ##
Greece, creditors on verge of clinching debt deal
Greece, creditors on verge of clinching debt deal
Germans want EU budget commissioner for Greece
"A leaked plan from the German government proposes a eurozone "budget commissioner" to take control of Greece's tax and spending, reports say."
"A leaked plan from the German government proposes a eurozone "budget commissioner" to take control of Greece's tax and spending, reports say."
Mexican electricity output tied to economic growth
"Mexico needs to generate more electricity to meet the needs of its burgeoning population and developing industries but that seems increasingly tied to the prospect of future economic growth, latest data indicated."
"Mexico needs to generate more electricity to meet the needs of its burgeoning population and developing industries but that seems increasingly tied to the prospect of future economic growth, latest data indicated."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Floating U.S. base to be deployed in Mideast
"The United States wants a greater military presence in Southeast Asia but does not seek permanent bases anywhere in the region, the chief of the Pacific Command said."
Iraq water crisis could stir ethnic clash
"Iraq is facing worsening water shortages caused by the failure of successive postwar governments to ensure supplies and extensive dam-building in neighboring states that could trigger sectarian conflict."
Philippines studying U.S. offer to deploy spy planes
"Iraq is facing worsening water shortages caused by the failure of successive postwar governments to ensure supplies and extensive dam-building in neighboring states that could trigger sectarian conflict."
Philippines studying U.S. offer to deploy spy planes
"Pentagon war planners have concluded that their largest conventional bomb isn't yet capable of destroying Iran's most heavily fortified underground facilities, and are stepping up efforts to make it more powerful, according to U.S. officials briefed on the plan."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Arab League suspends Syria mission as violence rages
"When David Cameron and other heads of government assemble in Brussels on Monday for a session of the European Council, they will see a city at a standstill."
Topless protesters detained at Davos forum
"Three topless Ukrainian protesters were detained Saturday while trying to break into an invitation-only gathering of international CEOs and political leaders to call attention to the needs of the world's poor. Separately, demonstrators from the Occupy movement marched to the edge of the gathering."
"Three topless Ukrainian protesters were detained Saturday while trying to break into an invitation-only gathering of international CEOs and political leaders to call attention to the needs of the world's poor. Separately, demonstrators from the Occupy movement marched to the edge of the gathering."
Senegal opposition urges more 'resistance' after riots
Union members, Occupiers protest in Super Bowl Village
Union members, Occupiers protest in Super Bowl Village
## Energy/resources ##
Sanctions to hit EU buyback firms: Iran oil chief
"European companies owed oil by Irancould lose out if Tehran imposes a ban on crude exports to the European Union next week, the head of Iran's state oil company said on Saturday."
Asian gasoline cracks hit 3-month highs on supply concerns
"Asian physical gasoline cracks in Singapore hit three-month highs Thursday, led by concerns over spot availability within Asia due to refinery closures in Europe and the US Atlantic Coast."
"Asian physical gasoline cracks in Singapore hit three-month highs Thursday, led by concerns over spot availability within Asia due to refinery closures in Europe and the US Atlantic Coast."
Nation's Limping Electricity Sector (Uganda)
Everything You Know About Peak Oil Is Wrong (BusinessWeek)
If I hear one more warning about peak oil, tight resource supplies, economic collapse, or any more of that disaster porn, I think I'm going to puke! There's plenty for everyone, and high prices are all the fault of speculators. And Greece will pull through with a good shot of Keynesian spending. New technologies will solve our problems, so chill in front of the tube and forget about this nonsense! (P.S. Has BusinessWeek been taken over by the Wall Street Journal?) -- RF
## Infrastructure scavenging ##
Cable theft effect: you'll be surprised (South Africa)
"From power cuts to network downtime, cable theft knocks out traffic lights, delays trains, plunges whole neighbourhoods into darkness, and cuts off critical communications."
## Environment/health ##
Mexican swine flu outbreak kills 29, infects nearly 1,500
## Intelligence/security/internet/systemic breakdown ##
## Japan ##
All major Japanese automakers log domestic output falls in 2011
"Total domestic production by Japan's eight major automakers dropped 13.4 percent in 2011 from the previous year to 7,978,541 units, with all manufacturers logging falls due largely to output and supply chain disruptions caused by the March 11 earthquake and tsunami, according to their data released Friday."
All major Japanese automakers log domestic output falls in 2011
"Total domestic production by Japan's eight major automakers dropped 13.4 percent in 2011 from the previous year to 7,978,541 units, with all manufacturers logging falls due largely to output and supply chain disruptions caused by the March 11 earthquake and tsunami, according to their data released Friday."
Never underestimate the impact of the supply chain disruption. Japan's economy is hanging on by a thread. -- RF
Post-nationalized TEPCO to solicit capital to update thermal generators
"Following the effective nationalization of Tokyo Electric Power Co. (TEPCO), which is currently being debated by the Japanese government, external parties will be solicited to inject new funds toward upgrading the utility's aging thermal power plants, it has been learned."
"Following the effective nationalization of Tokyo Electric Power Co. (TEPCO), which is currently being debated by the Japanese government, external parties will be solicited to inject new funds toward upgrading the utility's aging thermal power plants, it has been learned."
But it could be used in weapons, and it is widely rumored that Japan's military could put together a nuclear weapon in 24 hours. -- RF
Pension funds everywhere in the world are melting away. -- RF
NEC the latest to cut workforce / Electronics industry forced to eliminate tens of thousands of jobs
"'We cannot find any additional energy conservation measures,' an official of an electric equipment company said."
"The auditor earlier this month said it found billions of dollars worth of infractions and misappropriations by local-government financing vehicles. Such vehicles, set up by local governments to skirt limits on borrowing directly from banks to fund projects such as infrastructure construction, have become a focal point of risks in China's banking sector."
## UK ##
UK riots: paratroopers are trained in riot control
"British troops are being trained in riot control tactics amid fears that violence and looting will return to Britain's streets this summer."
The prison population is neither justifiable nor sustainable
Britain could not reclaim the Falklands if Argentina invades, warns General Sir Michael Jackson
"British troops are being trained in riot control tactics amid fears that violence and looting will return to Britain's streets this summer."
The prison population is neither justifiable nor sustainable
Britain could not reclaim the Falklands if Argentina invades, warns General Sir Michael Jackson
## US ##
$132.9 billion: Remember TARP? It still owes you.
"$132.9 billion short, the 2008 US bailout of the financial system could continue through 2017. Some of the $132.9 billion TARP money will never be recovered."
Workers at Pa. refinery get layoff notices
"$132.9 billion short, the 2008 US bailout of the financial system could continue through 2017. Some of the $132.9 billion TARP money will never be recovered."
Workers at Pa. refinery get layoff notices
Even Time is panning Gingrich's idiotic plan. Better yet, somebody over at Time understands net energy! That's the best part of this piece. -- RF
Friday, January 27, 2012
News Links, January 28, 2012
## Global economic meltdown ##
"Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years."
Older consumers pile on new debt (Canada)
## Fault lines/flashpoints/powder kegs/military/war drums ##
For Newt, 'World War III' Is Just the Beginning
"Newt Gingrich doesn't just want to lay waste to his political enemies and a large part of the news media. The former House speaker and presidential hopeful wants to bomb a significant part of the planet, too."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Occupy protest seizes UC Davis building, blocks bank
"Taking advantage of some extra patience on the part of administrators who came under heavy criticism for the pepper-spraying of demonstrators in November, student protesters on the UC Davis campus have seized control of a vacant campus building and are sporadically blocking access to an on-campus bank."
Feds to enforce no-camping rules Monday at Occupy D.C. sites
Protesters storm Syrian embassy in Cairo
"Dozens of pro-democracy protesters stormed the Syrian Embassy in Cairo Friday, breaking windows and ripping the Syrian flag before dispersing, officials said."
"Taking advantage of some extra patience on the part of administrators who came under heavy criticism for the pepper-spraying of demonstrators in November, student protesters on the UC Davis campus have seized control of a vacant campus building and are sporadically blocking access to an on-campus bank."
Feds to enforce no-camping rules Monday at Occupy D.C. sites
Protesters storm Syrian embassy in Cairo
"Dozens of pro-democracy protesters stormed the Syrian Embassy in Cairo Friday, breaking windows and ripping the Syrian flag before dispersing, officials said."
Nuclear foes defy order to remove tents from the grounds of METI (Japan)
"Antinuclear activists camping out at the Ministry of Economy, Trade and Industry refused to take down their tents Friday despite an order to do so by 5 p.m."
"Antinuclear activists camping out at the Ministry of Economy, Trade and Industry refused to take down their tents Friday despite an order to do so by 5 p.m."
Iran Embargo May Speed Refinery Closures
"The European Union's embargo on Iranian oil threatens to accelerate refinery closures in Europe, the head of Italy's refiners' lobby said.
"'Asian countries not applying the embargo could buy the Iranian oil at a discount and sell cheap refined products back to us,' Piero De Simone, general manager of Unione Petrolifera, said in an interview in Rome yesterday. 'Italy already risks the closure of five refineries and at a European level we're talking about 70 possible shut downs.'"
"The European Union's embargo on Iranian oil threatens to accelerate refinery closures in Europe, the head of Italy's refiners' lobby said.
"'Asian countries not applying the embargo could buy the Iranian oil at a discount and sell cheap refined products back to us,' Piero De Simone, general manager of Unione Petrolifera, said in an interview in Rome yesterday. 'Italy already risks the closure of five refineries and at a European level we're talking about 70 possible shut downs.'"
Halkbank to handle Iran payments so long as legal
"Turkish lender Halkbank will continue to handle customers' oil payments to Iran as long as they comply with international regulations, the bank's general manager said in the wake of fresh, unilateral U.S. and EU sanctions."
"Turkish lender Halkbank will continue to handle customers' oil payments to Iran as long as they comply with international regulations, the bank's general manager said in the wake of fresh, unilateral U.S. and EU sanctions."
Iran oil embargo seen as a problem for South Africa
"(Xinhua) -- If South Africa follows the U.S. and the European (EU) by banning new contracts for crude oil and petroleum products from Iran, South Africa's oil refineries may have to carry out multimillion-rand reconfigurations, the Cape Argus newspaper in Cape Town reported on Thursday."
"(Xinhua) -- If South Africa follows the U.S. and the European (EU) by banning new contracts for crude oil and petroleum products from Iran, South Africa's oil refineries may have to carry out multimillion-rand reconfigurations, the Cape Argus newspaper in Cape Town reported on Thursday."
Total Stops Buying Oil from Iran, Questions Impact of Boycott
"French oil company Total (NYSE:TOT) has stopped buying oil from Iran, as ordered by new European Union sanctions. However, Chief Executive Christophe de Margerie is doubtful the sanctions will have much effect on Iran's sales or on oil prices, said a Reuters report."
"French oil company Total (NYSE:TOT) has stopped buying oil from Iran, as ordered by new European Union sanctions. However, Chief Executive Christophe de Margerie is doubtful the sanctions will have much effect on Iran's sales or on oil prices, said a Reuters report."
"'Few companies can afford to drill for gas and produce it at these prices,' he elaborated, and 'most companies cannot break even drilling a new dry-gas well' at the current price levels."
Anti-nuclear movement growing in Asia
"Though nuclear power still has a strong foothold in Asia, anti-nuclear sentiment and protest are growing from Mongolia to South Korea to Taiwan and even - in modest ways - in China."
"Though nuclear power still has a strong foothold in Asia, anti-nuclear sentiment and protest are growing from Mongolia to South Korea to Taiwan and even - in modest ways - in China."
5,000 megawatts shortage persists (Pakistan)
## Got food? ##
Peru's vanishing fish stocks 'devastated' by corruption and growing fishmeal demand
"Soaring global demand for fishmeal primarily for animal feed or fish farms, including salmon, is wrecking havoc on the once abundant fish stocks of the southern Pacific"
Monsanto Investor Bill Gates Says GMO Crops Needed to Fight Starvation
Peru's vanishing fish stocks 'devastated' by corruption and growing fishmeal demand
"Soaring global demand for fishmeal primarily for animal feed or fish farms, including salmon, is wrecking havoc on the once abundant fish stocks of the southern Pacific"
Monsanto Investor Bill Gates Says GMO Crops Needed to Fight Starvation
## Environment/health ##
Space storm hits satellites, airlines; consumer GPS systems are safe
Space storm hits satellites, airlines; consumer GPS systems are safe
## Intelligence/security/internet/systemic breakdown ##
ACTA: The Corporate Usurpation of the Internet
## Japan ##
Nintendo triples its loss forecast as sales lag
Japan CPI Declines, Creates Problems For BOJ
Japan to inject $12.9bn into Tepco (FT)
Tohoku Electric Forecasts Record Loss After March 11 Disaster
Tohoku Electric Forecasts Record Loss After March 11 Disaster
Pension benefits to be cut by 0.3% in FY12; more trims may follow
## China ##
EU to hold summit talks with China next month
"Top officials of the European Union will hold talks with Chinese government leaders in Beijing next month to seek funding to help the EU deal with the sovereign debt and financial crises in Europe, it was learned Wednesday."
## UK ##
## China ##
EU to hold summit talks with China next month
"Top officials of the European Union will hold talks with Chinese government leaders in Beijing next month to seek funding to help the EU deal with the sovereign debt and financial crises in Europe, it was learned Wednesday."
## UK ##
"The prime minister has abandoned his pledge to block the eurozone from using common EU institutions to police a new regime of fiscal integration and stiff German-style rules for the embattled single currency."
## US ##
US Postal Service 'Unsustainable' Situation, Leader Says
Military cutback contains surprise
"Arguing that the United States needs to be prepared for myriad potential threats despite ending the war in Iraq — and with congressional opposition to military spending cuts likely to be as stiff as ever — the Pentagon's request calls for an increase in its base budget by $36 billion over the next five years."
Military cutback contains surprise
"Arguing that the United States needs to be prepared for myriad potential threats despite ending the war in Iraq — and with congressional opposition to military spending cuts likely to be as stiff as ever — the Pentagon's request calls for an increase in its base budget by $36 billion over the next five years."
Federal agency sounds alarm on American Airlines' pensions
EPA Rejects Palm-Oil Based Biodiesel for Renewable Fuels Program
EPA Rejects Palm-Oil Based Biodiesel for Renewable Fuels Program
Yes. Nobody with half a brain is taking this plan seriously. -- RF
Thursday, January 26, 2012
News Links, January 27, 2012
## Global economic meltdown ##
Cameron Rebukes Euro Leaders at Davos, Calls Financial Transaction Tax "Quite Simply Madness" ; Mathematical Impossibilities
Soros: EU Needs Euro Bonds
Soros: EU Needs Euro Bonds
Freighter Oversupply Weighs on Shipowners and Banks
"The skyscrapers and immaculate beaches of this seaport look out on one of the world's largest parking lots: mile after mile of empty cargo ships, as far as the eye can see.
"The skyscrapers and immaculate beaches of this seaport look out on one of the world's largest parking lots: mile after mile of empty cargo ships, as far as the eye can see.
"Similar fleets bob at anchor, with empty cargo holds, off the coasts of southeast Malaysia and Hong Kong. And dozens of newly built ships float empty near the giant shipyards of South Korea and China, their owners from all over the world reluctant to accept delivery during one of the worst markets ever for the global shipping industry."
"The race is on to see which central bank can load up its balance sheet with the most garbage the fastest."
"Container ships can't go any slower.
"Shipping lines are running out of options to stop losses as sailing speeds reach their lower limit, exhausting a solution that helped restore profitability in 2010."The global container fleet is now cruising near record-low speeds after slowing 11 percent from August when the freight rate market collapsed, according to data compiled by Bloomberg and Lloyd's Register. Drewry Shipping Consultants Ltd. estimates some of the smallest shipping lines will run out of cash in the second half of this year as the industry fails to adjust to overcapacity that's allowing customers to push down rates."
Asian freight demand slides in 2011
"Demand for airfreight services in the Asia-Pacific took a nosedive in 2011, plunging 4.8 percent, year-over-year. Load factor in this region also declined considerably last year, falling to 66.6 percent — a 3.4-percent, year-over-year, drop — despite no capacity changes from 2010."
"Demand for airfreight services in the Asia-Pacific took a nosedive in 2011, plunging 4.8 percent, year-over-year. Load factor in this region also declined considerably last year, falling to 66.6 percent — a 3.4-percent, year-over-year, drop — despite no capacity changes from 2010."
Holy bubble! This looks just like China. Must-see video. -- RF
When the global housing bubbles collapse like a row of dominoes – Canadian housing bubble at apex. Real estate markets from Australia, UK, Italy, and Ireland now into correction phases. (Dr. Housing Bubble)
Stephen Harper says 'major' changes coming to Canada's pension system: speech
US unveils strategy for a global supply chain crisis
US unveils strategy for a global supply chain crisis
"The US has unveiled a strategy at the Davos World Economic Forum to protect the global supply chain in the event of a terror attack or natural disaster."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Pre-emptive embargo: Iran could turn off oil tap to EU
Pre-emptive embargo: Iran could turn off oil tap to EU
"India could be on a collision course with the United States and European Union after officials in Delhi made clear they intended to carry on importing oil from Iran, despite the imposition of Western sanctions against Tehran."
Iran won't move toward nuclear weapon in 2012: ISIS report
"Iran is unlikely to move toward building a nuclear weapon this year because it does not yet have the capability to produce enough weapon-grade uranium, a draft report by the Institute for Science and International Security said on Wednesday."
"Iran is unlikely to move toward building a nuclear weapon this year because it does not yet have the capability to produce enough weapon-grade uranium, a draft report by the Institute for Science and International Security said on Wednesday."
"The US may outspend the Islamic Republic nearly 90-to-1 on defense. But Iran, heir to ancient Persia's naval innovation, has a well-honed asymmetric strategy designed to reverse that advantage.
"A 2002 US military exercise simulating such a conflict proved devastating to American warships."
Thousands of NATO trucks in Pakistan backlog
"Two months into Pakistan's blockade on NATO supplies crossing into Afghanistan, thousands of trucks are crowding the port in Karachi where drivers, fed up with waiting, are starting to desert."
"Two months into Pakistan's blockade on NATO supplies crossing into Afghanistan, thousands of trucks are crowding the port in Karachi where drivers, fed up with waiting, are starting to desert."
"It's not quite the new Pakistan, or even the new Yemen, but it's close — especially as new bases for the U.S.'s Shadow Wars pop up and expand. The U.S. military sometimes seemed like it was casting about for a reason to set up shop in Africa. Counterterrorism has given it one."
The real reason, of course, is Africa's resources and markets. -- RF
## Global unrest/mob rule/angry people/torches and pitchforks ##
Egyptian protesters plan sit-in until army leaves
"Egyptian youths camped out on Thursday in Cairo's Tahrir Square and vowed to stay put until the army hands power to civilians, a day after a mass demonstration marked a year since an uprising which brought down Hosni Mubarak."
Bahraini police clash with protesters
"Bahraini police and anti-government protesters clashed in Shiite villages, leaving dozens of officers and several demonstrators injured, officials and the opposition said Wednesday."
"Bahraini police and anti-government protesters clashed in Shiite villages, leaving dozens of officers and several demonstrators injured, officials and the opposition said Wednesday."
"Adbusters, the group which helped spark the Occupy movement, has put out a call for tens of thousands of protesters to occupy Chicago during the G8 and Nato summits in May."
On this I have to agree with Soros. There will be mobs and riots in the US. -- RF
## Energy/resources ##
Textile sector faces unprecedented gas, power shortage (Pakistan)
Textile sector faces unprecedented gas, power shortage (Pakistan)
## Environment/health ##
Gardening Map Of Warming U.S. Has Plant Zones Moving North
## Intelligence/security/internet/systemic breakdown ##
Anonymous Goes After World Governments in Wake of Anti-SOPA Protests
Railroad Association Says Hack Memo Was Inaccurate
FBI plans social network map alert mash-up application
"The FBI is seeking to develop an early-warning system based on material 'scraped' from social networks."
FBI plans social network map alert mash-up application
"The FBI is seeking to develop an early-warning system based on material 'scraped' from social networks."
No takers for reconstruction work / Low labor budgets leave more than 400 tenders on the table in Tohoku region
"No contracts have been awarded in about 400 construction projects up for bid in the Tohoku region, as construction companies are shunning small-scale jobs amid a shortage of manpower in areas hard-hit by the Great East Japan Earthquake, it has been learned."
"No contracts have been awarded in about 400 construction projects up for bid in the Tohoku region, as construction companies are shunning small-scale jobs amid a shortage of manpower in areas hard-hit by the Great East Japan Earthquake, it has been learned."
Suspect cattle still untested / Location of nearly 3,000 cows in radiation scare remains unknown
"The Health, Labor and Welfare Ministry has been unable to track the distribution routes of nearly 3,000 cows whose meat is suspected to contain high levels of radioactive cesium, ministry officials said."
"The Health, Labor and Welfare Ministry has been unable to track the distribution routes of nearly 3,000 cows whose meat is suspected to contain high levels of radioactive cesium, ministry officials said."
New security teams to tackle cyber-attacks
"To enhance protection against cyber-attacks, ministries and agencies will be required to set up teams to handle computer security incidents and a new post of chief information security officer will be created, a government council on information security has announced."
"To enhance protection against cyber-attacks, ministries and agencies will be required to set up teams to handle computer security incidents and a new post of chief information security officer will be created, a government council on information security has announced."
And that's just government debt. Total debt comes to over 500% of GDP. -- RF
Japan losing hope for its pricey "dream reactor"
Japan losing hope for its pricey "dream reactor"
Nuclear reactors staying idle
"Of Japan's 54 nuclear reactors, four are in operation, generating 8 percent of nuclear-power capacity."
"Of Japan's 54 nuclear reactors, four are in operation, generating 8 percent of nuclear-power capacity."
China to expand patrols to cover Senkaku isles, gas field
"The Shanghai Maritime Safety Administration plans to expand its aerial patrols to cover areas of dispute between Japan and China, including the Senkaku Islands and the Shirakaba natural gas field, according to reports by a subsidiary of the Xinhua News Agency."
## UK ##
Middle-income Britain is in state of emergency, says Nick Clegg
"The Shanghai Maritime Safety Administration plans to expand its aerial patrols to cover areas of dispute between Japan and China, including the Senkaku Islands and the Shirakaba natural gas field, according to reports by a subsidiary of the Xinhua News Agency."
## UK ##
Middle-income Britain is in state of emergency, says Nick Clegg
"Nick Clegg will warn on Thursday that the pressure on family finances has reached 'boiling point' and mark a new phase in coalition politics by setting out in public his party's budget demands, including a call for the chancellor, George Osborne, to speed up help for the working poor."
Police numbers at lowest for a decade
"Number of police officers in England and Wales falls by 6,000 in a year as chief constable warns of 'cliff edge'"
Ministry of Defence to cut further 3,000 civilian jobs
"Number of police officers in England and Wales falls by 6,000 in a year as chief constable warns of 'cliff edge'"
Ministry of Defence to cut further 3,000 civilian jobs
## US ##
Short Sellers Increase Bets Across the Board
"For the first time in a long time, short sellers have increased their bets that the stock prices of most large companies and in most large sectors will fall."
New-home sales hit a record low
North Dakota Oil Boom Brings Blight With Growth as Costs Soar
Michigan Attorney General Calls For 1,000 More Police Officers
"For the first time in a long time, short sellers have increased their bets that the stock prices of most large companies and in most large sectors will fall."
New-home sales hit a record low
North Dakota Oil Boom Brings Blight With Growth as Costs Soar
Michigan Attorney General Calls For 1,000 More Police Officers
The cuts will no doubt seriously impact local economies heavily dependent on the military. -- RF
And finally... Gingrich promises US moon colony by 2020
Talk about promising people the moon! Hasn't Gingrich noticed that the US is edging closer to Third-World status day by day? By 2020 there will likely be no space program at all. -- RF
