The countdown has started as the demise of the great U.S. shale gas industry has begun. This will have a disastrous impact on the U.S. economy as shale gas production declines in a big way. Unfortunately, very few Americans understand how sickly the domestic shale gas industry truly is, because they have been brainwashed to believe the United States is heading towards energy independence.
"[due to]... an abundance of media attention surrounding claims of possible medical benefits, the general public has been introduced to contradictory and often inaccurate information regarding the legality and benefits of marijuana use... This has made enforcement and prosecution for marijuana-related offenses more difficult, especially in states that have approved marijuana legalization."
It would be nice if we could figure out a way to make our economy last forever, but it is doubtful that we can. Ultimately, the battle between diminishing returns and increased complexity seems likely to be settled in a way that causes the economy to collapse.
Following a November to remember, which saw tremendous market gains following the election of Donald Trump, December has started off on the back foot, with US equity futures lower, European stocks halting a two day advance ahead of the Italian referendum, US Treasury yields higher and the US dollar backing away from a 9 month high.
As much as up to 50 percent of the production of oil majors could be hit by carbon costs in the next ten years if legislators that currently price carbon extend the policy to the upstream sector, Wood Mackenzie said in a new report on how oil majors would respond to the global energy transition and rising pressure for low-carbon energy.
While Trump’s election may be bullish for US equities in the near term, it may be bearish for Europe, since if his success translates into more success for anti-establishment parties, that could raise the spectre of a disruptive dismantling of the Eurozone itself. These parties are also generally not in favor of the kind of deregulation and tax cuts proposed by Trump.
In yet another sign that behind the frequently blasted OPEC headlines meant to suggest a sense of OPEC unity yet which do nothing more than incite a short squeeze (as even Morgan Stanley has now admitted), there is far less cohesion, moments ago we learned that Nigeria's Oil minister Emmanuel Kachikwu is the latest to skip this week's Doha meeting scheduled for November 17 and 18. He joins the oil minister of both Iran and Iraq who will likewise skip the meeting. Oil is not happy.
With OPEC’s 2016 World Oil Outlook now grimly forecasting that peak oil demand could become a reality in just over a decade, and natural gas and renewables chomping at the bit to cannibalize commodity market growth, it may be good for the environment, but the trade-off will be global instability on a catastrophic level.