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Chile Dealing With Rampant Energy Inflation By Extending Summer For Three Weeks

Tyler Durden's picture




 

And for today's most radical and ingenious resolution of how a country deals with an energy crunch we go to Chile, where courtesy of Reuters, we read that the government has just decided to extend summer by three more week to avoid a spike in energy usage. "Chile will delay the end of its summer time for three weeks as the country faces an energy squeeze because of drought and high demand, the government said Wednesday. Chile relies heavily on hydroelectric power to meet energy needs in the world's top copper producer, and rain shortages force generators to rely on costly fuel-driven plants, compounding inflation risks in the country's fast-growing economy."

In other words, in addition to starting revolutions around the world, the Chairman is now forcing governments to rise up defiantly against the rotation of the earth around the sun.

What can one say but pure unadulterated brilliance.

 

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Wed, 03/02/2011 - 13:27 | 1011796 JimRogers
JimRogers's picture

Chile! Ole!

Wed, 03/02/2011 - 13:28 | 1011801 -Michelle-
-Michelle-'s picture

What the heck does that even mean?  Is it to keep schools closed?  Does the entire country go on summer break and leave or something?

Wed, 03/02/2011 - 13:48 | 1011908 AnAnonymous
AnAnonymous's picture

It means that people are expected to rely more on daylight than electricity to light the offices, schools, houses etc

Wed, 03/02/2011 - 13:50 | 1011925 Cash_is_Trash
Cash_is_Trash's picture

So Ben is right, there is no inflation (!)

Wed, 03/02/2011 - 14:12 | 1012046 AnAnonymous
AnAnonymous's picture

As long as daylight is free, it will work in favour of the US financial helmsman, Ben "True American" Bernanke.

Wed, 03/02/2011 - 13:28 | 1011805 Shameful
Shameful's picture

King Canute looks on and nods approval.

Besides it's probably easier to Superman spin the earth back then stop Zimbabwe Ben anyway.

Wed, 03/02/2011 - 13:31 | 1011816 sulfur
sulfur's picture

this is so random it starts to be funny again.....even more hardcore then the us....not just blaming it on weather but just prolonging seasons...wtf

Wed, 03/02/2011 - 13:34 | 1011835 johnQpublic
johnQpublic's picture

taking their cue from pauxatanny phil, a groundhog

 

states"i have seen my shadow, and its not tan enuf, 3 more weeks of summer"

Wed, 03/02/2011 - 13:32 | 1011824 -Michelle-
-Michelle-'s picture

Okay, more info:

http://online.wsj.com/article/BT-CO-20110302-708197.html

SANTIAGO (Dow Jones)--Chile's government will delay pushing clocks back an hour for daylight savings time for three weeks as it seeks to stave off a power shortage, Energy Minister Laurence Golborne and government spokeswoman Ena Von Baer said Wednesday, according to local newswire Valor Futuro.

 

The government recently implemented preemptive measures, such as reducing voltage by 5% to 10% and saving more water in reservoirs, to avoid power cuts as a severe drought curtails hydroelectric energy production on the central SIC power grid.

 

The SIC grid provides energy to over 90% of Chile population and runs from the northern city of Taltal to the southern island of Chiloe.

Clocks were originally scheduled to fall back an hour March 12 as Chile enters autumn.

 

Extending summer hours, "has a relatively low impact in [energy] consumption...but it delivers an important message to residents," Golborne previously said.

Wed, 03/02/2011 - 14:18 | 1012076 Overflow-admin
Overflow-admin's picture

Well, that's a first one but in the other hand, it could be much worse... Please start thinking about what measures can be taken in the middle of a cold winter with high energy prices and near-bankrupcy government.

Thu, 03/03/2011 - 08:38 | 1014453 Matt
Matt's picture

So basically, they are extending daylights savings, the same as the US and Canada have already done a few years ago. Nothing to see here folks, just another over-hyped sensational headline on zerohedge.

Wed, 03/02/2011 - 13:32 | 1011827 Dick Darlington
Dick Darlington's picture

Please, end the FED!

Wed, 03/02/2011 - 13:43 | 1011888 Cash_is_Trash
Cash_is_Trash's picture

Not just yet, the world needs it's first Nominal Trillionaire.

Wed, 03/02/2011 - 14:16 | 1012060 JoeSexPack
JoeSexPack's picture

The Rothschild family has several private trillionaires.

If you owned a few central banks, you'd be there too.

Wed, 03/02/2011 - 13:34 | 1011828 karzai_luver
karzai_luver's picture

so when do we do away with the foolish daylight savings.

you have worked night and day to destroy all other form of savings why let this one escape!

C'mon bernake get on it!

Wed, 03/02/2011 - 13:35 | 1011836 Harmonious_Diss...
Harmonious_Dissonance's picture

Arizona is way ahead of your, no DST there.

Wed, 03/02/2011 - 13:44 | 1011884 UninterestedObserver
UninterestedObserver's picture

Soon they will be taxing daylight savings time!

Wed, 03/02/2011 - 13:57 | 1011963 karzai_luver
karzai_luver's picture

DON'T GIVE THEM ANY IDEAS!

 

:)

Wed, 03/02/2011 - 20:45 | 1013499 Arkadaba
Arkadaba's picture

+ unjunk - that was funny!

Wed, 03/02/2011 - 13:34 | 1011834 99er
Wed, 03/02/2011 - 13:35 | 1011843 Just Observing
Just Observing's picture

I've been proposing for YEARS that if daylight savings time is SO FREAKING GREAT, why don't we go for 2-3 hours and make it all year long !

And if 55mph saves lives and gas, think how much better 45 would be !

 

And 35

And 25

AND look what you could do with ZEROmph !!!!! END THE WHOLE OIL CRISES IN ONE SWOOP !!!

ya'll know what the problem is ?  Total lack of creative ability on the part of politicians.

 

Elect me....I'll SOLVE shit !

Wed, 03/02/2011 - 13:50 | 1011921 IrrationalMan
IrrationalMan's picture

"Elect me....I'll SOLVE shit !"

 

campaign slogan?

Wed, 03/02/2011 - 14:15 | 1012061 Just Observing
Just Observing's picture

Absolutely.....I'm Joe the Plumber and I'll solve SHIT.

The rest of the problems, I likely can't do any worse than the current crop of idiots.

Wed, 03/02/2011 - 14:05 | 1012009 Dr. Porkchop
Dr. Porkchop's picture

Next thing you'll have cities putting in trolly car systems and having people living close to their place of work, you communist!!!! ;)

Wed, 03/02/2011 - 13:35 | 1011844 John McCloy
John McCloy's picture

Look at the desperate efforts to push the Dow up..this market is going nowhere with 95.00 oil let alone 102.00

 

Wed, 03/02/2011 - 13:36 | 1011853 cartonero
cartonero's picture

Reminds me of this scene from Bananas:

http://www.youtube.com/watch?v=dkYfmRwryQo&feature=related

Wed, 03/02/2011 - 13:39 | 1011866 tahoebumsmith
tahoebumsmith's picture

In other words, in addition to starting revolutions around the world, the Chairman is now forcing governments to rise up defiantly against the rotation of the earth around the sun...LMAO.... brilliantly expressed feelings about the Titanic ship captain on his maiden voyage

Wed, 03/02/2011 - 13:51 | 1011918 sabra1
sabra1's picture

does the federation of planets know about this?

Wed, 03/02/2011 - 14:06 | 1012018 Dr. Porkchop
Dr. Porkchop's picture

They approved it.

 

Quantitative Lighting

Collateralized Debt Photons

Mortgage Backed Sunshine

 

The sky's the limit, and also where the light comes from.

Wed, 03/02/2011 - 13:53 | 1011935 karzai_luver
karzai_luver's picture

 bernake problem is that he KNOWS the universe revolves around the FED!

His theory is thus correct.

 

We my dear zeroes are the luddites.

 

Just BTFD , orbital that is!

 

 

 

Wed, 03/02/2011 - 20:54 | 1013509 Arkadaba
Arkadaba's picture

Idea for Banzai - substitute the Bernanke for Johnny Depp - would be funny:

http://www.youtube.com/watch?v=aI1EB3ccOgE

Wed, 03/02/2011 - 13:40 | 1011870 lsbumblebee
lsbumblebee's picture

This might give the BLS ideas about extending winter.

Wed, 03/02/2011 - 13:42 | 1011874 buzzsaw99
buzzsaw99's picture

delayed axis tilt bitchez!

Wed, 03/02/2011 - 13:41 | 1011876 LawsofPhysics
LawsofPhysics's picture

finite planet with finite resources bitches!!!

Wed, 03/02/2011 - 13:42 | 1011877 UninterestedObserver
UninterestedObserver's picture

LOL watch Rahm as his first decree as mayor he is going to cancel Winter

Wed, 03/02/2011 - 13:55 | 1011951 karzai_luver
karzai_luver's picture

Rahm will cancel summer. much less driving done during winter.

peeps can burn wood or their furniture or whatever to stay warm as he will have taxed away everything of any value by then.

 

Wed, 03/02/2011 - 13:45 | 1011894 UninterestedObserver
UninterestedObserver's picture

So I guess $102 oil is going to hurt Chile but not the US right?

Wed, 03/02/2011 - 13:46 | 1011904 Cash_is_Trash
Cash_is_Trash's picture

Brazil be next! We need an extension for the Carnaval weekend.

Lousy welfare states are meant to collapse.

Wed, 03/02/2011 - 13:48 | 1011911 koeleköpke
koeleköpke's picture

they should spray 'silver'-amide in the air, that will cause rainfall. It will support the 'silver'-price.

Wed, 03/02/2011 - 14:44 | 1012170 Bagbalm
Bagbalm's picture

See? That is where all the physical silver is really going - weather control!

Soon the will come for you silverware and tea survice to keep the rains coming and the ozone going...

Wed, 03/02/2011 - 13:48 | 1011912 sabra1
sabra1's picture

winter in the US should be extended for three weeks to have an excuse for terrible stats!!!

Wed, 03/02/2011 - 13:49 | 1011916 tmosley
tmosley's picture

And the king stood before the tide, and commanded that it stay out.

Wed, 03/02/2011 - 14:10 | 1012033 Spalding_Smailes
Spalding_Smailes's picture

Ron Paul's site down, Troll. Lol' ??

Wed, 03/02/2011 - 14:15 | 1012055 tmosley
tmosley's picture

I know this is more critical thinking than I can expect from a delivery boy, but I don't suppose you could possibly consider that a. I don't post much there, and that b. my posting there has no effect on my arguments.

Sigh, you're just a delivery boy with delusions of grandeur.  You idiot trolls are all too easy to rout out when you post personal information.

Wed, 03/02/2011 - 14:31 | 1012104 Spalding_Smailes
Spalding_Smailes's picture

So you had 5,050 post in 1 year on Paul's site. 

 

On Ron Paul's site .... Lol' Ron fucking Paul that loon.

 

Pick up that paper boy. How was school today ? Did your mommy toast your bread for you.

 

Did you read up on dollar denominated debt yet. No answers for Spalding on this issue. 

Wed, 03/02/2011 - 14:43 | 1012172 tmosley
tmosley's picture

Ad hominem.  And no, I had 5050 posts on "Ron Paul's" site over the course of three years.  But hey, don't let the facts get in the way of you dumbshit opinions.

And we have never had a discussion on dollar denominated debt.  You are thinking of someone else.  Not surprising that you are too fucking stupid to be able to tell one person from another.  But hey, what can we expect from a delusional delivery boy?

Wed, 03/02/2011 - 14:57 | 1012196 Spalding_Smailes
Spalding_Smailes's picture

So whats your answer for dollar denominated debt. Ihave been posting about this issue / swap lines ect for months now.

 

But ever notice not one ZHer can refute my claim. Dollar denominated debt insures the thirst for more dollars, now, next week, 10-20 years from now. ( no running from the dollar / dumping ) All businesses and central banks and host countries banks issue dollar denominated debt ...... Africa, Croatia, China, Mitsubishi, Cat, IBM  ect ......

 

I'm sure they all have " very smart people " giving them advice, all the printing issues / hyperinflation claims  doomers harp on. So why would they continue issuing / gulping down new debt ???? What about the yuan or the euro ...?

Wed, 03/02/2011 - 15:13 | 1012251 tmosley
tmosley's picture

I don't read your posts, because they are usually cut/paste trash.  I'm sure everyone else feels the same way.

Just because no-one responds doesn't mean you are right.

Wed, 03/02/2011 - 15:25 | 1012300 i.knoknot
i.knoknot's picture

+

Wed, 03/02/2011 - 15:36 | 1012347 Spalding_Smailes
Spalding_Smailes's picture

Plus what ???

 

What's your response to my thoughts on dollar denominated debt. Put your head back in the sand.

Bring on the personal attacks. But all the lurkers are sitting back saying " Wow, they can't debate Spalding on this issue ". Spalding is right, I better study up on dollar denominated debt... !!!

Wed, 03/02/2011 - 16:43 | 1012665 ColonelCooper
ColonelCooper's picture

Here's a response from a lurker. Allow me to cut and paste:

"Dollar denominated debt insures the thirst for more dollars, now, next week, 10-20 years from now. ( no running from the dollar / dumping ) All businesses and central banks and host countries banks issue dollar denominated debt ...... Africa, Croatia, China, Mitsubishi, Cat, IBM ect ......" - Spalding Smailes

Until they don't.

Maybe you've been reading so extensively on one subject that you've failed to notice the stirrings against the dollar. And what does your book say about the monetizing we're currently doing? And how old are these books? Did they deal with level of debt we face? Were our unfunded liabilities 100 trillion?

Wed, 03/16/2011 - 05:59 | 1059773 i.knoknot
i.knoknot's picture

SS - i thought you'd be able to figure it out without any help.

   "Just because no-one responds doesn't mean you are right..."

the '+' is generally a concise indication of agreement with previous poster's comments.

and agreement with that comment is not a personal attack - i'm living proof that it's a fact. you are often (not always) incorrect, but seldom worth a response.

any more questions?

Wed, 03/02/2011 - 15:31 | 1012307 Spalding_Smailes
Spalding_Smailes's picture

So that's it. Just talking about " cut 'n' paste " .... of facts.

 

Dollar denominated debt crushes every single doomer/ hyperinflation post. All the doomers spilling forth lies on the downfall of said dollar. All hot air. Read some fucking books, I finally realized your " research chemist " insight does not transfer well into the world of finance. You really have no clue what your talking about.

 

Let my ' cut 'n' paste ways teach fellow ZHers. Follow your own advice please stop responding to my post, people are trying to learn something. Your childish rants take away from my high quality, fact filled post.

 

I'm the only guy speaking out on dollar denominated debt. The only one. Your one of thousands talking up gold / silver as some form of future currency. All bullshit. 1 quadrillion of obligations will not magically be backed by gold , not the cdo market , not the forex market, not even letters of credit. Impossible.

Wed, 03/02/2011 - 18:00 | 1012953 ColonelCooper
ColonelCooper's picture

Spalding, I have given you credit on posts I thought were good, but your arrogance is kind of over the top today.

"Your childish rants take away from my high quality, fact filled post."

Don't break your arm patting yourself on the back.  Your posts are so so.  Not bad, not good, so so.  Your namesake is projecting himself onto you.

Thu, 03/03/2011 - 09:08 | 1014514 Matt
Matt's picture

As the dollar devalues, it will be easier to pay back your debts by selling commodities back for dollars, so I encourage everyone to go ahead and incur as much dollar denominated debt as you reasonably can, since it practically has a negative interest rate.

Euro is hosed. Yuan may become the new world reserve currency within our lifetimes.

Wed, 03/02/2011 - 13:51 | 1011922 buzzsaw99
buzzsaw99's picture

Colloidal silver will relieve the itchez bitchez!

Wed, 03/02/2011 - 13:54 | 1011937 ThreeTrees
ThreeTrees's picture

Note to the Chilean Government:  Correlation != Causation

Wed, 03/02/2011 - 14:01 | 1011980 Yancey Ward
Yancey Ward's picture

"Since the beginning of time man has yearned to destroy the sun."

C.M. Burns.

Wed, 03/02/2011 - 14:02 | 1011991 trav7777
trav7777's picture

increased demand does not cause inflation!

Printing money in a futile attempt to pay the extra price DOES. 

Wed, 03/02/2011 - 14:09 | 1012026 NotApplicable
NotApplicable's picture

So... that means Spring will be starting 3 weeks later in the Northern hemisphere, right?

Damn you overheating emerging markets!

Wed, 03/02/2011 - 14:08 | 1012029 falak pema
falak pema's picture

It'll improve Chile's Chardonnay yields according to govt. estimates. By increasing DST the induced QE-forever effect on the sun will allow it to inflate vine maturity. Higher sugar content is like a higher S&P index. It rises on levitation of DST span declaration by govt.! Wow!

Wed, 03/02/2011 - 14:52 | 1012192 ivars
ivars's picture

Buying light truck is a wasted money in coming gasoline price environment of 2011-2012. Either You do not drive the truck, or Your running costs for gasoline prevent You from buying other things/making investments that reduce costs.

Here is what oil prices most likely will look like , punctuated (and thus fluctuating) by spreading instability in supply nations.

http://saposjoint.net/Forum/download/file.php?id=2609

http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=0

We are currently at the first peak during the beginning of March. There are many more to come, driving the price of Brent up to 180 in extreme in May 2012, and that is not the final high, I just have not charted end of 2012 and 2013, when 200 USD barrel of Brent will be norm.

Wed, 03/02/2011 - 15:18 | 1012269 i.knoknot
i.knoknot's picture

Chile is merely borrowing on future global rotational capacity...

probably a safe bet. i wouldn't buy CDSs on that one...

Wed, 03/02/2011 - 15:51 | 1012420 ThirdCoastSurfer
ThirdCoastSurfer's picture

Using that logic, to save even more energy, they should change their name from Chile to Caliente!

Wed, 03/02/2011 - 16:49 | 1012694 Ahmeexnal
Ahmeexnal's picture

Hardly surprising. Chile staged the miner's rescue to rally the masses around the collapsing government. Now that the miner's are no longer news, the seeping truth about the slow response to the mega earquake will topple the regime.

Wed, 03/02/2011 - 17:24 | 1012817 Big Ben
Big Ben's picture

In the 70's Nixon extended daylight savings time into the middle of winter in an attempt to somehow conserve energy. With all the chaos in the energy sector back then, it is very difficult to determine what, if any, effect this had. Most people thought that it was just silly.

But governments like to give the appearance of doing something when a problem strikes. Kind of like the British firing thousands of anti-aircraft shells into the air over London during the Blitz, knowing full well that  these shells were extremely unlikely to actually hit anything. It was purely for morale.

Wed, 03/02/2011 - 21:09 | 1013532 Arkadaba
Arkadaba's picture

Daylight savings time and unintended consequences:

http://www.nejm.org/doi/full/10.1056/NEJM199604043341416

Wed, 03/02/2011 - 18:31 | 1013077 jmc8888
jmc8888's picture

Wow Ben, you need to start telling your students that the suspension of reality is for professionals only.

Chile's copper tower is oxidizing. Maybe it's the fumes?

Wed, 03/02/2011 - 19:19 | 1013247 johngaltfla
johngaltfla's picture

Does this mean we are extending our winter time until August? Holy crappola!

Thu, 03/03/2011 - 01:48 | 1013569 Elmer Fudd
Elmer Fudd's picture

Reminds me of only a few years ago, when the R's controlled both houses, and their craftly response for an energy policy was to extend daylight savings for 1 month two weeks on each end...  Remember when it used to get dark just before Halloween so the little ones didn't have to stay up late?

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