Department Of Energy
The forward curve currently points towards a recovery in prices that is far worse than in 1986. As there was no sharp downturn in the ~15 years before that, the current downturn could be the worst of the last 45+ years. If this were to be the case, there would be nothing in our experience that would be a guide to the next phases of this cycle, especially over the relatively near term. In fact, there may be nothing in analysable history.
- Gold claws back ground, European assets lose Greek tarnish (Reuters)
- Greece's Euro Exit Back on the Agenda Next Year, Economists Say (BBG)
- Greece submits bill needed to start rescue talks (Reuters)
- Wall Street Lenders Growing Impatient With U.S. Shale Revolution (BBG)
- Overtime Rules Send Bosses Scrambling (WSJ)
- As Markets Swing, Beijing Steadies Yuan (WSJ)
- Tennessee rampage suspect went to Qatar in 2014 (Reuters)
- Kathryn Dominguez to Be Nominated for Fed Governor (WSJ)
- Greece licks wounds after bailout vote, ECB move expected (Reuters)
- Lose-Lose: Pushing Greece Out of Euro Is Costlier Than Write-Off (BBG)
- EMU brutality in Greece has destroyed the trust of Europe's Left (Telegraph)
- Schaeuble Shrugs Off Greek Vote Saying Euro Exit Is Best (BBG)
- Merkel’s tough tactics prompt criticism in Germany and abroad (FT)
- Investors Get Caught in Oil’s Slippery Wake (WSJ)
- Obama Girds for Battle With Congress on Iran Deal (WSJ)
It has become conventional wisdom that the wave of the future is “smart home” technology from smart utility meters that read a houses energy usage automatically to smart lights that turn off when not in use. Smart home technology marries two of the most talked about trends in business right now – the internet of things and green technology. How useful are smart home devices really though? A recent report by the British government suggests that the smart home revolution may be starting to hit some bumps in the road.
No doubt smarting from criticism about its lack of success in picking winners in alternative energy vehicles, the Department of Energy has given initial approval for a $269 million loan to a proven winner – Alcoa’s high-strength aluminum to make vehicles lighter and more fuel efficient. But the new loan came under immediate fire for being superfluous since Alcoa was proceeding with the plant with or without DOE assistance.
Previously, Elliott Management's Paul Singer has explained that he believes "there is one risk that stands way above the rest in terms of the scope of potential damage adjusted for the likelihood of occurrence" - an electromagnetic pulse (EMP). Today we dig deeper into that risk... Why are we writing about EMP? Because in any analysis of societal risk, EMP stands all by itself.
What could possibly go wrong? Clearly having not learned their lesson from 'interfering' in free markets (and all the deflation-creating over-supplying, crony-capitalizing, taxpayer money-wasting malinvestment that goes with it), NBC News reports, The White House has announced a goal to train 75,000 workers in the solar industry by 2020, many of them veterans. In a sentence only President Obama could utter, he explains "these are good-paying jobs that are helping folks enter the middle-class." Climate 'fixed', folks 'fixed', veterans 'fixed' middle-class-economics 'fixed'... and we are sure it will be unequivocally good for America (until trade wars pick up once again).
At the end of September 2011, just days before his passing, the company that Steve Jobs founded had a $25 billion cash hoard. Nearly half of this was stashed overseas. His personal share of the untaxed offshore booty was obviously substantial. Did this make him ‘unpatriotic’?
Was the guy who revolutionized five industries and touched the lives of billions of people some nefarious traitor because he held so much money offshore? Of course not.
With great delight we present the latest blowback from Obama's "brilliant" strategy to cripple Putin: in addition to the default wave about to crush America's own shale industry, America's biggest foreign ally and military partner when it comes to "ideologically pure missions of liberation" - the UK, and specifically its North Sea oil industry which according to the BBC is in a "crisis" and according to Robin Allan, chairman of the independent explorers' association Brindex, the industry was "close to collapse". "It's almost impossible to make money at these oil prices", said a director of Premier Oil. "It's a huge crisis. It's close to collapse. In terms of new investments - there will be none, everyone is retreating, people are being laid off at most companies this week and in the coming weeks. Budgets for 2015 are being cut by everyone."
It was heinous. It was underhanded. It was beyond the bounds of international morality. It was an attack on the American way of life. It was what you might expect from unscrupulous Arabs. It was “the oil weapon” -- and back in 1973, it was directed at the United States. Skip ahead four decades and it’s smart, it’s effective, and it’s the American way. The Obama administration has appropriated it as a major tool of foreign policy, a new way to go to war with nations it considers hostile without relying on planes, missiles, and troops. It is, of course, that very same oil weapon.
If You Believe The Oil Bull Market Is Over, This Is How To Monetize Your Perspective With Up To 4x LeverageSubmitted by Reggie Middleton on 08/14/2014 13:08 -0400
Ways for retail investors, and institutions small and large, to monetize a fundamental or economic outlook that the muppet masters will never tell you!
- EU to weigh extensive sanctions on Russia (FT)
- U.S. lifts flight ban to Israel (Reuters)
- Russia says will cooperate with MH17 probe led by Netherlands (Reuters)
- Norway faces ‘concrete and credible’ terrorist threat (FT)
- Don’t Tell Anybody About This Story on HFT Power Jump Trading (BBG)
- But... but... PMI: Unilever Sales Growth Misses Estimates on Asian Slowdown (BBG)
- World’s Biggest Wealth Fund Reviews $8 Billion Russian Stake (BBG)
- Qualcomm latest US tech company to reverse in China (FT)
- Hamptons Home Sales Rise as Buyers Find More Inventory (BBG)
- BRICS set up bank to counter Western hold on global finances (Reuters)
- Fed's Yellen Hedges Her View on Rates (Hilsenrath)
- China GDP Grows 7.5% in Second Quarter (WSJ)
- Get More Acquainted With Your Knees as Boeing Reworks 737 (BBG)
- Israel Warns Gazans of New Attack After Hamas Rejects Truce (WSJ)
- Israel poised for Gaza incursions after truce collapses (Reuters)
- China Housing Sales Fall in First Half of 2014 (WSJ)
- IBM to offer iPads and iPhones for business users (Reuters)
- Fed's George says strengthening economy warrants quick rate rise (Reuters)
- China’s Trade Unexpectedly Rises (BBG)
- 'We're already not in Ukraine' - rebel east readies secession vote (Reuters)
- Pro-Russian Separatists in Ukraine Reject Putin's Call to Delay Vote (WSJ)
- Vietnam’s Stocks Post Biggest Loss in Decade on China Tensions (BBG)
- Hedge Funds Extend Their Slide (WSJ)
- Carney Looks to Untested Tools as House Prices Boom (BBG)
- New Draghi Era Seen on Hold at ECB as Euro Area Recovers (BBG)
- Woman With Printer Shows the Digital Ease of Bogus Cash (BBG)
- Regulators See Growing Financial Risks Outside Traditional Banks (WSJ)
- Putin playing the long game over Russian kin in Ukraine (Reuters)
- U.S.-Russia Relations Come Full Circle After Ukraine (WSJ)
- Japan PM makes offering to Yasukuni Shrine, angers China, South Korea (Reuters)
- In Gold Miners' Talks, Scale Is Crucial: Combined Barrick-Newmont Would Be Able to Trim Costs (WSJ)
- SEC Said to Weigh Shining Light on Brokers’ Stock Routing (BBG)... and protmply unweigh it
- Exelon Beating Facebook in S&P 500 After Valuation Scare (BBG)
- Court Case May Help Define 'Insider Trading' (WSJ)
- Spanish banks face tough rivalry in small companies bet (Reuters)