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The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming
"There are too many ugly balance sheets," warns one energy industry analyst, adding simply that "the group is not positioned for this downturn." While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various 'statistics' about how the down-side of low oil prices is 'contained' and the huge colossal massive tax cut means 'everything is awesome' for America, the data - and now actions - do not bear this out. Macro data has done nothing but disappoint and now, we have the first casualty of the shale oil leverage debacle as WSJ reports, on Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come...
In December we illustrated the problem names (in the publicly traded markets) among the most-levered energy companies in America...
And now, as The Wall Street Journal reports, the bankruptcies have begun as financing costs are not just prohibitive, there is no liquiidty available at any price for many...
American oil and gas companies have gone heavily into debt during the energy boom, increasing their borrowings by 55% since 2010, to almost $200 billion.
Their need to service that debt helps explain why U.S. producers plan to continue pumping oil even as crude trades for less than $50 a barrel, down 55% since last June.
But signs of strain are building in the oil patch, where revenue growth hasn’t kept pace with borrowing. On Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money and citing debt of between $10 million and $50 million. Neither the Austin-based company nor its lawyers responded to requests for comment.
Energy analysts warn defaults could be coming. “The group is not positioned for this downturn,” said Daniel Katzenberg, an analyst at Robert W. Baird & Co. “There are too many ugly balance sheets.”
...
In 2010, U.S. companies focused on producing oil and gas had $128 billion in combined total debt, according to financial data collected by S&P Capital IQ.
As of their latest quarter, such companies had $199 billion of combined total debt.
Before crude prices began falling, U.S. oil and gas producers were able to acquire leases and drill wells even if that meant outspending their incomes. Debt was used to bridge the cash shortfall so that companies could develop oil fields in Texas, North Dakota and newer locations including Colorado.
Now that is coming back to bite.
The upshot of cash conservation and higher borrowing costs will be less money spent on producing oil and natural gas. Concho Resources Inc. said late Monday that it was cutting its capital spending budget by a third, to $2 billion.
* * *
And the credit market knows it...
And here is the bankruptcy filing in question in all its glory:
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Y U No buy?
Surely GS can package up some oil backed securites to sell to Yellen?
Not only is that already done, they have sold trillions in derivatives on those securities as well, just like they did with mortgage debt in the 2000s. Good thing that turned out OK.
Nothing to see here, move on.
Good thing Solyndra will captain us into an oil-free future.
Are these unintended consequences from terminating QE?
I do not buy that. There are no accidents.
1) Get them into debt.
2) Remove Market Liquidity
3) Seize assets upon subsequent Bankruptcy.
4) Open Credit Spigot, sell them assets, and Get them into debt.
5) Remove Market Liquidity
.
.
.
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It seems to work. But few seem to notice and far fewer seem to care. But the Banks make out like bandits.
Yes there will be more Bankruptcies.
The people at Goldman Sachs want to express their appreciation for your active and passive complicity in this crime.
Without YOUR SUPPORT this would not be possible.
Thank you muppets.
Hugs,
Llloyd
As a follow up to my message of Dec 23, 2014 where I projected that Saudi/OPEC is responsible for the decline in the price of oil. My theory was right and now the MOST IMPORTANT reason has appeared as to why Saudi/OPEC are doing so.
I have had a EUREKA moment over the New Year holidays/last weekend when I discovered why the price of oil maybe going down!
This is going to change the world and is happening for the first time in hundreds of years that we may not need oil/gas any more for vehicles, homes or most other things.
A new source of energy has most likely been found!
This is potentially a new step forward for all mankind.
This video explains in the most basic form what we are talking about here:
Cold Fusion and LENR Update: https://www.youtube.com/watch?v=F0XVWrQWMSA
This energy source was claimed since last year but now has been independently verified by 3 different sources.
Firstly, the main source being the Royal Swedish for Sciences committee, who decides whom to give the Nobel Price in Chemistry every year, has determined that this new energy source is real!
The day this independent verification came was on Oct 6, 2014.
You can see the historical price of oil. The price of oil was at or above USD 90 until Oct 6, 2014 and then something happened.....and the price has declined very rapidly and very radically by almost USD 2 every 3 days!!........http://www.investing.com/commodities/crude-oil-historical-data
The main and perhaps the most important reason for this price collapse since Oct 6, 2014 is this report that was published on the same date: http://amsacta.unibo.it/4084/1/LuganoReportSubmit.pdf
This report must be read by all but most importantly by people who have an understanding of physics and/or chemistry. This report is prepared by 6 famous PhD scientists, two of whom are associated with the Royal Society of Technology, Sweden that grants the Nobel Prizes!
The stamp of approval by 6 leading PhD scientists is what gave this technology the boost and credibility. The experiment was conducted in Switzerland by scientists from Sweden and Italy.
The conclusion of the report is what makes this report so mind blowing:
"In summary, the performance of the E-Cat reactor is remarkable. We have a device giving heat energy compatible with nuclear transformations, but it operates at low energy and gives neither nuclear radioactive waste nor emits radiation."
From Page 27: "The result from the heat measurement is remarkable by giving such a large amount of heat from the very small quantity of fuel powder used confined in the small volume of the reactor."
http://amsacta.unibo.it/4084/1/LuganoReportSubmit.pdf
Secondly, not only was this source of energy confirmed by Sweden and Italian scientists (from the oldest University of Bologna in the world from 1,088 AD) from Nobel Prize academy but a Russian scientist has also independently verified this new source of energy:
http://www.scribd.com/doc/251130826/Parkhomov-Alexander-Rossi-Replication-Paper-2014-12-25
The last sentence at conclusion of this report is what changes the whole world in the world of energy and is the dynamite:
"This device does produce more energy than it consumes."
The third independent evaluation as done by Cornell University, USA who used a different set of scientists and their conclusion was the same:
"The two test measurements described in this text were conducted with the same methodology on two different devices: a first prototype, termed E-Cat HT, and a second one, resulting from technological improvements on the first, termed E-Cat HT2. Both gave indication of heat production from an unknown reaction primed by heat from resistor coils. The results obtained indicate that energy was produced in decidedly higher quantities than what may be gained from any conventional source."
"Even from the standpoint of a “blind” evaluation of volumetric energy density, if we consider the whole volume of the reactor core and the most conservative figures on energy production, we still get a value of (7.93 ± 0.8) 102 MJ/Liter that is one order of magnitude higher than any conventional source.
Lastly, it must be remarked that both tests were terminated by a deliberate shutdown of the reactor, not by fuel exhaustion; thus, the energy densities that were measured should be considered as lower limits of real values."
Link from Cornell University: http://arxiv.org/abs/1305.3913 (Please click on PDF at right top)
Remind me again how this can be put into a fuel tank on anything with four(or more) wheels.
I went short 4 fracking companies about a month ago. Two of them were on the list. Just wait a few more weeks and the shorts will pay big time!
Finally, some justice for the absolutely UNNACCEPTABLE damage that fracking companies have done to the environemnt. Fracking is evil, and needs to be banned. This oil price collapse is just what we need to end frackning once and for all. This is a victory for environentalists all over the world and a huge blow to corporate interests.
Oh, you're gonna piss off some uniformed ZH'ers with that.
Bunghole - it's you and MDB that are uninformed. The environmental damage created by fracking is no more ruinous than that generated by traditional production methods. Many would argue its safer. But, I suppose you favor far more expensive and far less efficient alternative energy strategies only. You ought to consider joining the rest of us in the real world where PRACTICALITY dominates
I bet the chosen ones own all of the shale companies the next time oil goes way back up.
USPTO has been jerking Andrea Rossi around on his patent application. The fact they are doing that tells me he is on to something.
His name is Andrea Rossi.
https://www.youtube.com/watch?v=VI6tBwVjyOY
oil can stay lower longer than the speculators can stay solvent.
A quote from either a WWII propaganda movie, or a Vietnam propaganda movie, comes to mind.
"INCOMING!!!"
ONE COMPANY. ONE NATION. ONE WORLD. ONE PEOPLE. ONE ORDER.
It's good to see Barry and his Saudi Buddies bring Putin to his knees ....
oh, wait a sec ....
ZH has a uniform? Where do I get mine?
I bought a couple of zh t-shirts. Though I love the hedge, the t-shirts are thin material. Avoid.
They are great for wet T-shirt contests however.
Well, if you go into the bathroom and rip your t-shirt off, and aren't afraid of what you see in the mirror...
"
You are not your bank account
You are not the clothes you wear
You are not the contents of your wallet
You are not your bowel cancer
You are not your grande latte
You are not the car you drive
You are not your fucking khaki's
Fight Club - This Is Your Lifehttps://www.youtube.com/watch?v=rSpqObhK4Rw
gr8 b8 m8, I r8 8/8 .
Welcome back!!
Green arrow for showing up.
Where you been?!?
MDB this one's for you baby. I'm on the North Slope right now about to move a rig out on the tundra. I will be drilling a horizontal well and doing a 6 stage frac job. Just so you know, we ain't all going bankrupt...
Don't loose sight of a possible geo-political event. with all the pressure on many countries, IMO this possibility could trigger a quick price spike......
MDBurger, you are such a fucking moron.
You have been here 4 years. You do understand MDB is the resident troll right? He spouts the opposing view of the article he is commenting on. It is supposed to be funny and ironic but it never fails to net the people that believe he is serious. It's as amusing as his posts themselves. However, MDB has had some classics that I have got a good chuckle out of.
*Unless your comment was endearing like the big lebowski:
The Dude: Walter, I love you, but sooner or later, you're going to have to face the fact you're a goddamn moron.
How do you like Liberal's comments?
Those posts are nowhere near as subtle as MDB but it is great.
But MDB is an artist. Yes. I have to agree.
easy... it creates current via generator, you buy the current in the form of kWh to charge your electric vehice, and away you go
Flux capacitor. Simple.
Rube diverse nucular ozzmosis goldberg.
It runs on cheese whiz mostly. Smells like hormel chili-mac when it's cookin'.
Shame we still don't have the battery technology to use that energy, if true.
With what we do have, it will still be a very different world.
Then theres plastics and fertilizers to consider.
Maybe another 120 years may crack that particular battery problem,deep discharge cycling,but
maybe not.A lot of money has already been spent for naught,trying to solve it.
deep cycle battery tech is older than dirt... Tesla is packing 50 kW into their battery packs and expects that performance to increase by 40-50% every five years... the tech is already here to address the majority of vehicle mission profiles for personal use... yes, we'll always have need for hydrocarbons, but the original question was "how do I power four wheels with this" and the answer is "we already know how to, it's just another heat source as far as we're concerned"... QED
Sure is, shame it applies to the modern batteries as well.
There has been no breakthrough, at least according to the research director of one of the
biggest battery companies in the world.
I'm sure you are better informed than him though ?
it's already documented fact that battery packs from the Tesla Roadster to the Model S gained 50% improvement in capacity and recharge behavior... this is over a five year period... the battery techs have already said this target can be reached on the next five year cycle... that would be Panasonic that you're alluding to, btw, and yes I've read their work, it's a conservative target and well within the realm of possibility... if it wasn't, Gigafactory wouldn't be in the plans as that's a joint Panasonic / Tesla venture...
btw you can still find archives on line of MIT researchers stating that putting a man on the moon is impossible and shouldn't be attempted... just goes to show...
I've read similar forecasts.
They were written in 1906.
There is one born every minute.TESLA fan that is.
look, you need to give it a rest when you're proven wrong... you ask where the battery tech is, I provide examples which basically show it's already here (hell, it's available in more hybrids and EVs today than you can shake a stick at), and your response is to stick your head in the sand and call me a "Tesla fan", whatever the fuck that's supposed to bring to the discussion...
this is just like you when you stepped in it spitting mad bullshit about the "Silk Road" and how useless the US Navy is in policing it, while forgetting that half the trade associated with that term is maritime traffic... the first rule when you're in a hole is to stop digging, suggest you put down the shovel before you hit the other side and need to learn Mandarin at this rate...
Forget batteries. If this energy is viable, why are Russians bending over backwards to secure their (future) Arctic operations?
Tell your happy story to the families of the thousands whose battery factory contaminated their land, and killed the thousands in Bhopal, India.
DOW CHEMICAL: Fucking billions for the millions, ever since 1933!
that has fuck all to do w/ what we're talking about... the world is going to make batteries somewhere regardless
I don't recall that being a battery factory.
Perhaps you cannot put that reactor into an automobile....
But anything which produces NET HEAT can be utilized to GENERATE ELECTRICITY.
The Modern Internal Combustion Engine is 98% INEFFICIENT. Most of the heat generated is radiated to the atmosphere and wasted.
But Electric Motors are much more efficient.
There are Electric Cars, you know?
I will read the report. If Cold Fusion has truly been acheived then that is a ray of hope in an otherwise dismal world.
Tom, change the 9 to a 7.
agree, your typical modern ICE has a thermal efficiency of around 22-28%
References?
he's spot on, there are plenty of references to choose from but frankly you can calculate it... here's one as an example...
http://www.epi-eng.com/piston_engine_technology/thermal_efficiency.htm
Tall Tom and others.....Someting has indeed happened in the last few months...Bill Gates is visiting Italy to learn about LENR...oil price is massively down.....not one country's Govt has screamed yet about the massive decline in prices (perhaps because they know the future technology and the coming demise of oil based world?)....large oil companies who have ruled the world since only the past 100 years, are selling their assets like there is no tomorrow...Google, Apple and Microsoft are larger than Exxon after several years....reports on LENR are being published from various sources....Swedish Utilities CEO has spoken.......Toyota has just declared yesterday to give away billions of dollars worth of research and patents for FREE....there is something developing..........and it has to be something sensational...Saudi/OPEC and all oil exporting nations have perhaps realised that their future is in a big trouble (are therefore diversifying and opening up), hence they are causing mayhem now instead of being losers in couple of years down the road and destabilising the rest of the world so that they bring the entire West down today when their banks are weak, economies are fragile and don't want to give time for the West to plan the growth of this new teachnology and come ahead of the Saudis/Middle East/OPEC? .....Why has so much happened since the Oct 6 report?...Could it just be true and change our entire world as we know it?....Let's discuss....
2.
This is what the US Pentagon / Military had to say in 2009 and comes from a recently declassified document:
"Outlook and Implications
If nuclear reactions in LENR experiments are real and controllable, DIA assesses that whoever produces the first commercialized LENR power source could revolutionize energy production and storage for the future. The potential applications of this phenomenon, if commercialized, are unlimited. The anomalous LENR effects seen in these metal lattices containing deuterium may also have as-yet undetermined nanotechnology implications. LENR could serve as a power source for batteries that could last for decades, providing power for electricity, sensors, military operations, and other applications in remote areas, including space. LENR could also have medical applications for disease treatment, pacemakers, or other equipment. Because nuclear fusion releases 10 million times more energy per unit mass than does liquid transportation fuel, the military potential of such high-energy-density power sources is enormous. And since the U.S. military is the largest user of liquid fuel for transportation, LENR power sources could produce the greatest transformation of the battlefield for U.S. forces since the transition from horsepower to gasoline power."
http://coldfusionnow.org/wp-content/uploads/2012/06/DIA_2009_11_Tech_Forecast.pdf
On Oct 9, 2014, CNN also published a report from a scientist: http://ireport.cnn.com/docs/DOC-1177868
At Last, Fuel For Our Dreams
A quote from the CNN report: "Said nuclear physicist and 1973 Nobel Prize laureate Brian Josephson, in an Oct. 12 letter to Nature, the world's pre-eminent science journal, "The report not only confirms output power far in excess of anything possible by chemical reaction, but also gives a clear indication that a nuclear reaction is occurring, on the basis of a substantial change in the isotopic proportions of Li and Ni over the period of the run,"
"A source of energy that produces three times more energy than it uses to sustain itself? It sounds like a violation of the laws of physics, and certainly puts a dent in the theory of conservation of energy, which says energy can neither be created nor destroyed."
"But, as I have said elsewhere tonight, the countless millions of people who live without clean water, lights, communications and fuel, who haunt this world like the ghosts of great wars and vanished civilizations, are the real beneficiaries of this technology, of Andrea Rossi's "impossible invention" and dreams as old as humanity."
3.
This article sums up the benefits of this new energy source quite well:
"What is publicly known about LENR research is just the tip of the iceberg. Many big-name companies are involved, including Toyota, Honda, Mitsubishi, Volvo, and many more, as well as government and military organizations, such as the Space and Naval Warfare Systems Command (SPAWAR), the Defense Advanced Research Projects Agency (DARPA), and the National Aeronautics and Space Administration (NASA). LENR research is not all about one man or one company; It is a global search for scientific truth and a practical way to solve the global energy crisis.
LENR produced energy will be so low in cost that subsidies and mandates for using pollution free LENR products will be totally unnecessary. Finding a low cost, reliable replacement for fossil fuels is the only foreseeable positive economic force that can bring back the American dream. Only nuclear power has the high energy density and 24-7-365 reliability needed to replace fossil fuels. There is just no other choice."
Low Energy Nuclear Reaction passes big test in Switzerland
http://www.opednews.com/articles/Low-Energy-Nuclear-Reactio-by-Christopher-Calder-Andrea-Rossi_Energy-Policy_Industrial-Heat-Llc_Lenr-141013-530.html?show=votes#allcomments
8 clean-energy stories that brightened our world in 2014
http://www.siliconrepublic.com/clean-tech/item/39783-8-clean-energy-stories-that/
Of all the people in the world, the richest man in the world and Microsoft Founder, Bill Gates visited Italy on Nov 17, 2014 to meet and discuss the same development of nuclear fusion without radioactivity or any harmful residue:
http://www.univrmagazine.it/sito/vedi_articolo.php?id=2820
This is what the CEO of Swedish Electric Utilities company had to say in Nov 2014: http://www.elforsk.se/LENR-Matrapport-publicerad/
"If it is possible to safely operate and control these reactions that are now believed to be nuclear reactions, we may see a fundamental transformation of our energy system. Electricity and heat could then be produced with relatively simple components, facilitating a decentralization of energy supply that could be both inexpensive and part of a solution for global climate change."
4.
An American investor has actually bought the patents from this Italian scientist for this technology:
Raleigh investor Darden still bullish on controversial nuclear technology
http://www.bizjournals.com/triangle/blog/techflash/2014/10/raleigh-investor-darden-still-bullish-on.html?page=all
Confirmed: Raleigh’s Cherokee buys into controversial nuclear tech device
http://www.bizjournals.com/triangle/news/2014/01/24/onfirmed-raleighs-cherokee-buys-into.html?page=all
LOL!! The fuel for the current best performing fusion reaction is extremely expensive to produce and requires a lot of energy itself to manufacture.
Good luck with all that. You need to read some more primary literature.
Thanks. Laws of Physics.
What is your response after reading the conclusion of the 6th Oct 2014 report http://amsacta.unibo.it/4084/1/LuganoReportSubmit.pdf?
"In summary, the performance of the E-Cat reactor is remarkable. We have a device giving heat energy compatible with nuclear transformations, but it operates at low energy and gives neither nuclear radioactive waste nor emits radiation."
From Page 27: "The result from the heat measurement is remarkable by giving such a large amount of heat from the very small quantity of fuel powder used confined in the small volume of the reactor."
And what about this revised US patent application of Sept 25, 2014: http://energycatalyzer3.com/news/rossi-working-behind-the-scenes-at-us-p...
Still a net energy loss. many, many patents out there. We still have a long way to go, but you are a damn fool not to patent every single micro improvement along the way. Getting to a functioning fusion reactor that can power a city is a long long way off and will require considerable more capital and resources investment.
Ask yourself, have we been investing our capital and resources wisely?
Ideas, trade and REAL work make the world go round, everthing else is just noise.
When the exchange of real assets and ideas stops, we go to war in earnest.
same as it ever was.
Of course nuclear could be light years ahead of where it is now if they didn't focus on material that just so happens to work well with bombs.
pods
The sad truth, and not just bombs but particle beam weapons launched from space.
USPTO has been jerking Andrea Rossi around on his patent application. The fact they are doing that tells me he is on to something.
His name is Andrea Rossi.
Okay...The Rossi Experiment is repeatable. It is evidential that Lithium 7 is being depleted. We may not understand the reaction and it really goes against the grain as "Cold Fusion is impossible".
But the issue which I have is that you write that it is net energy negative...without substantiation.
Can you demonstrate for me, please, that the fuel costs more energy to create than the energy yielded from this reaction?
Or at least link me to the abstract which demonstrates the unfeasibility of the Rossi Reactor because of the fuel energy costs?
Thanks.
You know for as long as this E-Cat has been around, if it actually did work, would all this cheerleading really be necessesary?
Today is the first time that I have heard about it.
Is this about cheerleading?
No one has proven that it works but no one has proven that it does not work. It is mystery to me.
dude, your constant harshing on our vibes is a net energy loss...
"Ask yourself, have we been investing our capital and resources wisely? "
Hamid Karzai requests the Re-Re-Recapitalization of the Bank OF Afghanistan that his brother runs.
Um, Karzai wants us to send them a plumber or two while we're flying in pallets of US Dollars this time.
...There seems to be a 'money leak' somewhere and no matter how hard Karzai's Brother looks at million dollar villas in Dubai he can't find that 'money leak' anywheres.
Banker I think you're forgetting the "First law of thermodynamics"
For cold fusion to work it would have to prove that first law to be incorrect.
You cannot create more energy than what is already there.
It is a 'conversion' of form not a production of xx by x. One pound of plutonium produces how many gigawatts?
Read my post below.
There is no violation of any laws of Thermodynamics.
Next read the Abstract.
Look at the photos of the reactor glowing red. That is most impressive.
Now to Laws of Physics post....
You can junk my post all that you'd like.
It just demonstrates YOUR IGNORANCE about Nuclear Energy and Physics.
Perhaps you need take a remedial High School Physics course.
I didn't junk ya. If you're directing that comment at me.
I'm all for cold fusion and saw some one posted the E-cat link on ZH months ago.
For cold fusion to work it would have to prove the first law of thermodynamics wrong.
That isn't impossible, doing so would just prove our understanding of it is flawed.
No. That is not true.
In any adiabatic system energy can neither be created or destroyed. I will agree. But it can be transformed.
These Laws, never formally penned, were written in the 18th or 19th Century by Classical Physicists and were an extention of Newtonian Conservation of Momentum Law. If Momentum is conserved then, Energy,(which is the sum of the product of all Momentum with changes in velocity), must also be conserved. When you Integrate mv dv you end up with 1/2 (mv2)
Than at the beginning of the 20th Century a remarkable Physicist appeared on the scene. He is known as, "The Last of the Classical Physicists" and for a good reason.
He came up with a famous Mass-Energy Equivalence statement, E = mc2.
The implications of this statement were profound. It meant that all mass IS energy.
As the Twentieth Century developed so did our understanding of the Atom.
You have heard it said that Like Charges repel one another, correct? Well if all of the particles in the nucleus of an atom have Like Charges (positively charged.) then just how do those particles bond together? They would fly apart if Coulomb's Law were "valid"..(it is.)
So there must be a bonding Force stronger than that of the Coulomb Force that would have them fly apart. That force was called the Strong Nuclear Force.
With the subsequent discovery of the Neutron, an uncharged Nuclear Particle with a smidgeon less mass than that of a Proton, how do these bond within the Nucleus of an atom? They termed that Force as the Weak Nuclear Force (and I know that I am being too simplistic).
So, by the 1930s, we had determined that there were Four Fundamental Forces at play in the Physical Universe. There was the Gravitaional Force, the Electrostatic Force, the Strong Nuclear Force, and the Weak Nuclear Force. (I know that currently three have been unified.)
How does this relate to Energy? Well since we could net energy out of Electrostatic Forces (through Chemical Reactions) was it possible to net energy out of Nuclear Forces?
Well if it is true that E = mc2 then it is also true that Delta E = (Delta m)c2. So if we could somehow change Mass itself into Energy then we could gain the Energy while losing a little Mass. (Now c is a constant in that iconic equation. We cannot change it. But c is a very large multiplier thus c2 is a much larger multiplier.)
Well we were also studying Radioactivity, Fission and Fusion, smashing atoms, and watching what happened. When smashing Atoms, as it was OBSERVED, there was always a net loss of Mass which was released as Energy.
(The Modern Physicist was a far different breed than the Classical Physicist. He is more of an Empiricist rather than a theorist of the Classical school. We are more interested in seeing the Physical Universe and then describing what we see rather than making a prediction about the Physical Universe and then having data either validate or invalidate our model. The Modern Physicist is more of an Applied Physicist, more hands on.)
Anyway the World was heading toward war. American Physicists in the 1930s believed that sustaining a Fission Chain Reaction was impractical as it was Net Energy Negative.,.(Familiar read?)
So Leo Szilard rides up to Albert's house with some terrible news. Obviously shaken Albert invites Leo into his home and asks him what the problem was.
The Germans had built a sustaining net energy positive Fission Reactor. They were transforming mass into energy. Furthermore there was the possibility of the Germans creating a device, a Bomb, using an uncontrolled Chain Reaction...
Einstein penned his letter to FDR. And the Manhattan Project had its birth.
ALL WITHOUT VIOLATING ANY LAW OF THERMODYNAMICS,
The Universe loses a little mass and gains the EQUIVALENT ENERGY, sir. It is a transformation.
how do my farts work?
mbb
see boltzman equation
Off base maybe but this all reminds me of a glass filled with water and ice to the brim. The ice melts, but the glass does not overflow.
The dark energy (cosmological constant) violate the first law.
It's energy density still the same even if our universe expand, meaning that the total energy must increase over time...
If we find a way to tap it one day, it's bingo !
5.
What gives credibility to this whole theory of a new energy source is that all the top American and British oil companies have been selling their oil and energy assets or stakes in oil fields throughout 2014:
There are various theories that BP has been selling international assets due to oil spill penalties and fines but what about the rest?
This shows that the US and British are aware of this oncoming technology and have been trying to reduce their capital expenses, growth and selling as much as possible all of their assets so they do not face massive losses when this new technology is ultimately released and becomes practical.
There is simply no other reason why these eye gouging countries that wish to control the world based on oil and commodities will now reduce their exposure to Iraq, Nigeria, Scotland, Arctic, Alaska within the last few years and accelerate their sales even more in 2014.
There is something here that does not make sense as to why the world's largest companies are selling as much of their energy assets as possible? ......When one of the main reason US and UK went to war with Libya, Iraq, Syria, Afghanistan etc (oops...to bring Freedom and Democracy) was due to control over oil/resources and now they will give up/sell those assets/investments? It is incomprehensible and perplexing!
Remember, BP, Exxon, Shell etc were the largest companies in the world for decades but have quietly slowed down in the last few years and allowed Apple, JP Morgan, Google and Microsoft and others to become larger although oil is more important to everyone than Apple is!
31 Jan 2012
TonenGeneral to Buy Exxon Japan Refining, Marketing Unit for $3.9 Billion
For Exxon, the world’s largest energy company, the transaction is the biggest divestiture since the 1999 deal with Mobil Corp. that created the company.
http://www.bloomberg.com/news/2012-01-29/exxon-mobil-sells-japan-business-stake-to-tonengeneral-for-3-9-billion.html
4 Sept 2012:
Shell divests stake in Nigerian oil asset
http://www.hydrocarbons-technology.com/news/newsshell-divests-stake-nigerian-oil-asset
7 Nov 2012:
Iraq says Exxon to quit oilfield, ends Turkey TPAO deal
http://www.reuters.com/article/2012/11/07/us-iraq-exxon-idUSBRE8A60Y420121107
26 Nov 2012:
ConocoPhillips to Sell 8.4% Kazakhstan Oil Stake for $5B
http://www.foxbusiness.com/industries/2012/11/26/conocophillips-to-sell-84-kazakhstan-oil-stake-for-5b/
28 Nov 2012:
BP to raise $1.1bn from North Sea field sale
http://www.bbc.com/news/business-20527045
7 March 2013:
Why Are the Big Financial Institutions Selling Oil BIG?
http://oilprice.com/Finance/investing-and-trading-reports/Why-Are-the-Big-Financial-Institutions-Selling-Oil-BIG.html
29 Oct 2013
BP Commits to Divesting Another $10B
http://www.forbes.com/sites/marketnewsvideo/2013/10/29/bp-commits-to-divesting-another-10b/
29 Nov 2013
PetroChina to Buy Exxon Stake in Iraqi Oil Field
http://oilprice.com/Energy/Energy-General/PetroChina-to-Buy-Exxon-Stake-in-Iraqi-Oil-Field.html
22 April 2014:
BP Agrees to Sale of Interests in Four Alaska North Slope Assets
http://www.bp.com/en/global/corporate/press/press-releases/bp-agrees-sale-interests-alaska-north-slope.html
13 June 2014:
ExxonMobil sells stake in Seligi oil field to UK's EnQuest
http://www.thestar.com.my/business/business-news/2014/06/13/exxonmobil-sells-stake-in-seligi-oil-field/?style=biz
8 July 2014
BP Sells Panhandle West and Texas Hugoton Gas Fields to Pantera Acquisition Group, LLC
http://www.myhighplains.com/story/d/story/bp-sells-panhandle-west-and-texas-hugoton-gas-fiel/30463/SiLe2U0mMUiXc0r7PeoWGQ
30 July 2014:
ConocoPhillips deal propels Oando to Nigeria's top league
http://uk.reuters.com/article/2014/07/30/us-oando-conocophillips-idUKKBN0FZ29N20140730
27 Aug 2014:
Shell-led group close to selling Nigeria oilfields for $5bn
http://www.ft.com/intl/cms/s/0/9754d97c-2dbe-11e4-8346-00144feabdc0.html?siteedition=intl#axzz3NkNnEolm
16 Sept 2014:
Nigeria: Official - Shell Has Divested From Eight Oil Fields in Five Years
http://allafrica.com/stories/201409160329.html
16 Sept 2014:
ConocoPhillips To Divest North Sea Oilfield Stake
http://www.bidnessetc.com/25669-conocophillips-to-divest-north-sea-oilfield-stake/
19 Sept 2014
Exxon Said to Halt Arctic Oil Well Drilling on Sanctions
http://www.bloomberg.com/news/2014-09-18/exxon-said-to-halt-arctic-oil-well-drilling-on-sanctions.html
9 Oct 2014
Price fall hastens decline of "big oil" as Western majors retreat
* Seven oil majors ran annual cash deficit of $55 bln
* Falling oil price to force new wave of asset sales
* Asset sales close to $150 bln, some dividend yields top 6 pct
* Repeat of M&A boom as response to low oil prices seen unlikely
And given that the seven majors have already sold assets worth $150 billion in the past four years, they are gradually turning from super-majors into mini-majors: still among the biggest companies in the world but no longer with the size to bend prices to fit their investment cycle.
In 2003, Exxon, Shell, BP, Total, Chevron and Eni produced 11.5 million barrels of oil liquids per day, or 14.5 percent of global output of 79.6 million bpd. Fast forward 10 years and their smaller output of 9.5 million bpd is equivalent to only 10.4 percent of larger global production of 91.6 million bpd.
http://www.reuters.com/article/2014/10/09/oil-prices-majors-idUSL6N0RU4HU20141009
Hey Dubai - once you exceed 50 lines NO ONE will read your bullshit
Forget it. He's on a roll. (Personally, I think he may be on to something. And, I did read all his post. Most interesting.)
Chevron was going to invest $10 billion in the Ukraine after the coup and cancelled it a few weeks ago.
You know every major oil company has been watching closely the tests of Rossi's E-CAT.
Sorry Tyler and all for hijacking the thread...this is the last post....but I believe this information could change the world which is why I suspect oil price is declining so rapidly, since Saudi/OPEC/Middle East wish to remain relevant and want to obliterate the West with lot of surprise TODAY and not allow the west to dominate with any new technology in the FUTURE, if it ever becomes plausible.
6.
Some additional information/links on the whole E-Cat / LERN thing:
http://www.scoop.it/t/lenr-revolution-in-process-cold-fusion http://www.e-catworld.com http://energy2point0.org/resources/
28 Nov 2014: http://www.huffingtonpost.com/david-h-bailey/low-energy-nuclear-reacti_b_6189772.html
Several videos from 2011 to 2014: http://www.lenr-forum.com/forum/index.php/Thread/35-Timeline-Highlight-LENR-2011-2014/
Some more interesting videos are here: http://www.e-catworld.com/2013/10/26/always-open-e-cat-world-thread/#comment-1632955958
7.
Various bodies have been created just in the last few months to promote this new energy source:
14 Oct 2014
Energy 2.0 Society Announces Launch to Promote LENR as Clean and Affordable Energy Source (Press release)http://www.e-catworld.com/2014/10/14/energy-2-0-society-announces-launch-to-promote-lenr-as-clean-and-affordable-energy-source-press-release/
Even Oxford University is hosting a mega event later this week in London and more events are expected around the world: http://lenr-cities.com/oxf/
8.
Several Governments have woken up to this in the last 1 year:
Feb 2013: Sweden Defence/Military: http://wavewatching.net/fringe/wp-content/uploads/2013/02/Reactions-with-nickel-and-hydrogen142972_TMP.pdf
17 Nov 2014: India: Modi government urged to revive cold fusion http://zeenews.india.com/news/india/modi-government-urged-to-revive-cold-fusion_1500438.html
9.
Finally, here is an interview with the inventor of this technology who is an Italian scientist and investor:
http://ecat.org
10.
Yesterday, in a very interesting development, even Toyota has released most of its patents and will give their research and technology on fuel cells for FREE to anyone on which they have spent billions of dollars so that they can increase competition before low price of oil and low price of a new energy source makes their research even more irrelevant?
CES 2015: TOYOTA RELEASES FUEL CELL PATENTS, TO SPUR DEVELOPMENT
http://www.popsci.com/ces-2015-toyota-releases-fuel-cell-patents-spur-development
There is something really going on when largest companies in the world are giving things for free or reducing their exposure and becoming smaller in size...It just does not make sense except that this new energy source will make EVERYTHING ELSE unprofitable!
I am not 100% sure if this technology will become a reality but IN CASE (or IF) it does, it will change the whole world and all oil companies will go down and the only the very strongest will survive. Also, all oil exporting countries will lose their revenues and will find it harder to succeed. But there is definitely a connection to this new technology with the drop in the price of oil.
Saudis/OPEC can last the longest with the lowest price of oil due to their extensive cash reserves of over USD 1 trillion dollars and collectively between UAE/Saudi/Kuwait/Qatar etc of more than USD 3-4 trillion!
Oil is also going down because US is producing more oil than ever before so there is a supply glut. In addition, unemployment is higher and trade between nations is slowing down causing a demand glut too which is why Baltic Dry Freight index, prices of all shipping companies and ships etc are down.
One of the most critical things that will happen with a low price of oil will be that capital spending will come down so investment on new rigs will come to a grinding halt. This will hopefully reduce some supply.
Additionally, many companies will go bankrupt typically smaller ones like this one today. This will allow Saudi/OPEC to retain their market share or at least have it same as the year before. The writing is on the wall, IF this technology becomes useful and that is why all economies in the Middle East are trying their level best to diversify away from their dependence on oil. Instead of them going into oblivion in the future, they have perhaps decided to take all others into oblivion before they themselves become irrelevant and use the opportunity to continue to diversify their economies into tourism and other sectors like education, healthcare, real estate, Islamic finance etc.
More and more oil from Middle East is going to Asia and more so to China. It is cost effective and cheaper to send from Middle East than to send from USA. Hence, Chinese demand will be satisfied more from Middle East and Russia in the years ahead who are also reliable and stable suppliers.
If this technology comes alive, we will have a new renaissance and most investments in the oil and energy sector will collapse. The impact on various countries will be very different and each will try to survive and do something new so let us see what happens in the years to come.
In my view, in the next few months, prior to June/July 2015, oil price will decline towards USD 10 but then could bounce back towards USD 50 by end of 2015. Next year in 2016 also oil price will remain below USD 50. But if this new technology becomes more successful, then price of oil will remain lower than USD 40-50 for a much longer period of time and may never see above USD 90 or USD 100 ever again!
From a consumer point of view, all this news is very good because things will become cheap. However, all the money that has been spent by various Govts on wars, oil infrastructure, historical agreements to control pricing of oil in dollars, potential failures of some banks and massive loan losses in banks, defaults by more bonds like OGX and BUMI and coal companies etc, major declines in stock prices including all companies associated with the oil sector, will cause tremendous instability and will be harmful for us all, in an already volatile global environment filled with volatile currencies, sanctions, terrorism, weak banks and high unemployment etc.
A new, more fruitful, more productive era for humanity may arise, however, until things become stable, the volatility may consume the best of us all. So, stay safe ....because the whole world is changing!
You sir, are a fucking idiot. Cold fusion is a bullshit scam.
It's like saying the sun could be the sun as we know it if it was only 32 degrees. BULLSHIT!!!!!!
Did you even bother to read the Abstract?
It is evidential that the Rossi Experiment is repeatable.
You can deny that all that you want. You can junk him. You can junk his post.
But it just does not change the Empirical Evidence.
My only problem is that Andrea Rossi did most of the research at the University of Bologna lol.
You do know that the University of Bologna is the oldest university in the world and was founded in 1088 AD. The medical school was founded around 1200 AD.
Out of the 30 oldest medical universities - Italy has 12 out of 30.
http://www.bestmedicaldegrees.com/30-of-the-oldest-medical-schools-in-th...
I know all you AH's think Princeton and Harvard are the best (for criminals).
Bologna also did not jump on the phony global warming academic scam like U of PA, UP of VA and that UK school where the liars did the global warming hockey stick.
Relax, Francis... he was making a pun.
eclectic......Before Einstein invented the light bulb, there was no light bulb. Before Wright brothers created the first flight, there was none! Before the railway engine was created by Stephenson there was none. And long long ago, before fire was found, there was none!
And we may call it whatever name we want, but if Toyota is releasing patents worth billions for free, oil price is dropping like a stone, Bill Gates is listening to cold fusion scientists, Swedish Royal Academy is involved and one of the associates is saying something in writing, US Pentagon is theorizing and probably spending billions, Swedish utilities boss is saying something, India is perhaps restarting a 2 decade old 'cold fusion' research, oil companies are giving away their most lucrative and prized assets collected over dozens of years worth billions, Oxford University is arranging seminars with top brains of the world while scientists from the oldest university in the world are saying something in writing and all this is happening just in the last 3 months and as we speak....... then we should just term it as bull shit and listen to you?
Ohhhh...puhleaze...There is something happening. Just be positive and open your mind!
Edison....... improved the lightbulb.
liliienthal and Mongolfier had controlled flight long before the Wrights.
Railways............
These assertions put any technical info expertise you try to portray into serious question.
Throughout history, those who actually invented things are different people than those who were given general credit for doing so.
Especially at the turn of the 20th century.
pods
I am not a science student and never claimed to be.
I have just researched a bit and put the various publicly known information of recent months together and want everyone to discuss and I wish to learn whether cold fusion or LENR are or could be true or possible?
Dubaibanker:
I couldn't say as to possible, since science does tend to realise the 'impossible' over time. But I'm grateful for your links - some of which I've read thru now - and all the discussion of them here. I've also discussed some of them with my science-enthusiast husband.
He doesn't care about investment-related topics at all, just interested in hard science. He checked all his usual 'reputable' science journals and forums, and found nary a word of this. He also reads many scientific blogs and journals every day, and has seen no word of this over the last several months.
His reaction boils down to: "If scientists have just solved the great energy conundrum of the 21st century, essentially made the next great energy leap forward, then why are there NO peer-reviewed journal publications showing this HUGE discovery, outside of a handful of scientists at a few (far-flung) universities? If this had really been a discovery last October, it would have attracted a tremendous amount of scientific attention, especially by now, three months later. It would have been 'claimed' by at least one university. It would have been THE BIGGEST NEWS IN THE WORLD. Why is there NO mention of it in [Nature, Scientific American, etc.], the most famous and reputable scientific journals? Why has no university made a claim? Nobody loves a big breakthrough more than scientists. By now, it would certainly have attracted attention in the scientific mainstream, and been subject to rigorous peer review."
I tend to agree with this. All your sources are investment-related, with a small handful of scientists who have not published any of these findings in a mainstream scientific publication. I could see a 'conspiracy of silence' for a month or two - but not for three, all during a politically spectacular oil drama that is taking North America to its knees. I am not saying that these universities or names are not reputable, but I AM saying that careers would have been made, and fame would have been achieved by now, together with huge grant money, if this were in fact a scientific reality. The best career move one can make in science is to overturn an 'established' scientific principle with repeatable, verifiable evidence, subject to the heat of peer debate. But this has not happened here, on what would be the biggest scientific discovery of the century.
Without dwelling too much on Andrea Rossi, who is spearheading the project but who appears to be tainted in his credibility, I can't help but notice that the mainstream scientific community seems completely silent regarding this tremendous breakthrough, now three months old. Again, "stars" (and much grant money) have been made from lesser scientific discoveries than this would be - almost the equivalent of the discovery of a perpetual-motion machine, or a validation of alchemy. It would be that big, and that difficult to conceal.
So, my personal opinion, with many thanks for a rich and thought-provoking find, is that while it may very well be possible, it does not seem to be acknowledged in the mainstream community of scientists. Given that careers would be made over this, I am leaning to the conclusion that it is a scam designed to pull money out of investors who are looking and hoping for a new source of energy, but who would know far less about science than they do about money. (Investors must be very quick off the mark to avoid missing profits; scientists, not so much.)
If I were looking to invest or just for realistic hope, I would certainly wait for some much more reputable scientific verification, well supported or at least fiercely debated, from within that community.
Again, many thanks for the opportunity to think, discuss, and learn!
Renfield,
I agree with your comment, however, I just have one sentence why this news has not come into the media or 'the reputed science journals' : Govt (or the powers that be), that owns the media, does not want to create panic and chaos with such a news release and want to have sufficient time to plan or own this technology if this ever comes alive because this is worth trillions!
Imagine, the whole world will go panicky if oil and gas will no longer be needed. The poor will be jumping with joy if they could have power without the billions required in Govt infra spending for laying the cables or installing power plants! Losses for banks and energy complex will be enormous. No investment will be required to bring power and heating to the people unlike today and cost of everything will decline leading to efficiencies.
This will never make it to the peer reviewed journals until the Govt (or powers that be) have covered all the bases.
Even the Pentagon is all over it.
This is not a normal scientific discovery and all of us greedy humans will want a piece of action.
By the way, aside from the Industrial Heat company in US, no one has ever invested a penny into this investment. (who knows what Bill Gates has said or done or what Sweden is planning and what is China upto?)
While Andrea Rossi may have some credibility issues but such is the work of scientists, they are mostly eccentric.
Rossi has been working behind the scenes to get a US patent and that information is about 3 months old. http://energycatalyzer3.com/news/rossi-working-behind-the-scenes-at-us-p...
The US investor has also visited China and is talking to them. http://www.bizjournals.com/triangle/blog/techflash/2014/10/raleigh-inves... (again news within last 3 months)
I don't think mainstream community is oblivious. Cornell Univ, Russian scientist and Swedish/Italian scientists from Nobel commitee are saying the same! I think the turning point was the release of report by the Swedish/Italian independent scientists on Oct 6, 2014. I need to see oil going back to USD 80 or 90 in next 3 months else I will keep believing that there is something going on! The world's oldest university of Bologna as well as Switzerland are involved and Swedish utility company too!
My question is: Why so much has happened in the last 3 months? What exactly is going on?
I have a feeling, IF THIS COMES TRUE, then the decline in price of oil is related to this. If not, then I am not buying the story of supply glut and Iran/Russia and slow GDP growth etc. All these put together do not warrant a 60% decline in oil price in 6 months!
By the way, your husband's answer is a staple answer because everyone wants empirical evidence but this is not a normal discovery! It is worth trillions which is why Rossi is not disclosing anything to anyone including US patents office else they will kill him and take his technology.
But you have to admit, that there is something inside the tube that Rossi has built, fake or not and has now been verified by external parties who are not exactly under his thumb and have put their names and that of their faculties on the line (oldest university in the world, no less)!
Meanwhile, I am still trying to learn as to why oil is coming down, which is how I ended up here.....I am still learning... from all of you!
I need a better explanation to go against my theory of a new energy source!
The E-cat isn't the only LENR on the horizon. There is also focus fusion showing some promise, using plasma.
THey are divesting international assets in favor of domestic production which is cheaper and far less vulnerable to geopolitics and terrorism. FFS
About 12 months ago or more, the Rockefeller heirs said they were moving energy stocks out of their portfolio for green reason. Limbaugh mentioned it. I do not listen to his show anymore but over a year ago I heard it listening for a few minutes. It was in the news as well.
These do gooders might know more about LENR. Their market timing on energy stocks was a bit too timely. Somebody may know something/
Comments in the Bizjournal article:
________________________________
I suppose it is remotely possible that Rossi has something but the chance of it is very small based on everything that's known about the man.
He was convicted in Italy on an varied assortment of crimes including felonies, in conjunction with a waste to energy company called Petroldragon. He took millions from the US DOD for high efficiency thermoelectric devices and delivered junk that didn't work. The DOD was so embarrassed that they removed their original report from their web site (it is still available elsewhere, however).
You can read more about Rossi and his ecat and his extensive criminal past here:http://newenergytimes.com/ v2/sr/RossiECat/Rossis-Italian-Financial-and-Environmental-Criminal-History.shtml
... and here: http://newenergytimes.com/v2/sr/RossiECat/Andrea-Rossi-Energy-Catalyzer-Investigation-Index.shtml#index
Gary Wright is just starting to publish documentation about the thermoelectric device fiasco here: http://freeenergyscams.com/the-thermoelectric-scam-of-andrea-rossi-part-1/ and here:http://freeenergyscams.com/the-thermoelectric-scam-of-andrea-rossi-part-2/
Those reports make sense. The ones by the Swedish scientists, purporting to show that a glowing piece of electrically heated pipe is creating nuclear fusion, do not.
I have no idea what due diligence Cherokee and Industrial Heat performed, who did it, and how well it was done. Until that can be absolutely nailed down and credible test results are published independently of Rossi's friends and his lab, it would be wise to be extremely cautious about investing in anything remotely related to that man and to his cold fusion/LENR claims. That applies equally to claims by Defkalion, Brillouin, Nanospire and Dr. George Miley's company, Lenuco.
_________________________
Mary Yugo · https://fbstatic-a.akamaihd.net/rsrc.php/v2/yH/r/XoELfdGm-co.png); background-size: 52px 228px; background-position: 0px -208px; background-repeat: no-repeat;"> Top CommenterGary Wright has published some interesting information about how Rossi scammed the Department of Defense in the early 2000's with claims for thermoelectric devices that never worked. Rossi took millions of dollars for this ill fated project which is very reminiscent of the Ecat. The third installment is a good place to start and can be found here:
http://freeenergyscams.com/the-thermoelectric-scam-of-andrea-rossi-part-3/
Subsequent installments should be even more revealing. If the article is too long, scroll down to the last third or so. Reply ·
· https://fbstatic-a.akamaihd.net/rsrc.php/v2/yH/r/XoELfdGm-co.png); background-size: 52px 228px; background-position: 0px -192px; background-repeat: no-repeat;">1 · January 26, 2014 at 10:06am
https://fbstatic-a.akamaihd.net/rsrc.php/v2/yA/r/4WSewcWboV8.png); background-repeat: no-repeat;" for="u_0_x">
Paul E. Cunningham · https://fbstatic-a.akamaihd.net/rsrc.php/v2/yH/r/XoELfdGm-co.png); background-size: 52px 228px; background-position: 0px -208px; background-repeat: no-repeat;"> Top Commenter · Southeast High School
Early on, studying this story, I found the pdf from a govt. website. It was dry reading but at the conclusion, Rossi's alleged 100watt thermocouple could never be reproduced. There was apparently some mistake or deception from the beginning along with slick salesmanship to earn him the contract to attempt its duplication. The material was strictly the facts with no opinion whatsoever and was clearly a complete failure. This does not prove anything about the present day e-cat, but is solid evidence of his track record.
So, if Rossi robbed someone and went to jail means he cannot invent something and all his knowledge goes to waste? How many of us have done things in our past that we would possibly now regret?
Where is the evidence that US DOD gave him 'millions' which were wasted? Remember Solyandra..or Goldman... or AIG or Fannie Mae and Freddie Mac......?
Lets not get personal here with Rossi....because any one of us would have done what he is doing to protect the patent. It is human nature to not disclose everything to someone else, at least not for such an earth shattering information.
Dubaibanker..."A source of energy that produces three times more energy than it uses to sustain itself? It sounds like a violation of the laws of physics, and certainly puts a dent in the theory of conservation of energy, which says energy can neither be created nor destroyed."
No. No sir. This is NOT at all a violation of any Physical Laws.
In both Fission and Fusion reactions, mass is converted to energy. The Universe loses mass and gains Energy. There is a net gain of zero yet there is a transformation from one Physical Attribute to another.
E = mc2 (Mass-Energy Equivalence Statement) means that Mass and Energy are equivalent. Mass is Energy. The square of Light Speed in that equation is a constant.
Mass and Energy are two different manifestations of the same phenomena. Mass is Energy. They are EQUAL.
(That is why Matter-Antimatter reactions are, still, the Holy Grail. Then one can yield 100% of the Energy from the Mass. The Mass "loss' of the Fusion Bonding, actually yielded as Energy, is miniscule compared to that. Yes...miniscule but still usable.)
That was a pretty dramatic statement back in the early Twentieth Century. While many appreciate the iconic Equation, far, far fewer truly understand the depth of what Albert postulated.
So, no, there is no violation of any Law of Thermodynamics. Energy is conserved and cannot be created or destroyed is as true today as it was when initially postulated.
I have got to read your link.
Thanks Tall Tom. That quote comes from the CNN article by the writer Joe Shea from Florida, and is not by me, in case you understood it that way.
I misunderstood. I guess that the quotation mark was misplaced and I mistakenly believed that it was you who was writing it.
I would not expect a CNN reporter to understand it. In fact I expect them to misunderstand it as they slaughter science.
Try this too.
25 MT can fuel the US for a year. It is estimated there are 110000 tons on the moon. That's 44000 year's supply. Cut that to 11000 years if we decided to include the entire planet.
http://www.asi.org/adb/02/09/he3-intro.html
And it is very clean with no radiation. Turn off the ignition and it stops.
The Helium-3 Fusion Reaction is a Hot Fusion Reaction which will be bottled in a Magnetic Field. I believe that the Temperature Differential is the main obstacle as it will melt the Plasma Containment Equipment.
But the Moon has been bombarded with Helium-3. There is no doubt about that.
This reaction, written about in the abstract, utilizes Elemental Lithium and Nickel. It is "Cold Fusion".
It is evidential that a Nuclear Reaction is happening because of the observed depletion and transformation of Lithium-7.
But Laws of Physics reports that the energy costs of getting the materials exceeds that of the Enegry gained from the reaction.
Net Energy Negative....
I am hoping for a solution. Damn.
Nice explanation of what goes on in the center of a star asshole. Let's stick a star up your asshole or even within a billion miles of you and see what happens. Nothing exists that could contain it idiot.
The Sun is less than a tenth of One Billion Miles away.
Today we are roughly somewhat over 92 Million Miles away from it and, a little after the Summer Solstice, we will be at 94 Million Miles away from it. It averages about 93 Million Miles, and since 100 Million is a Tenth of a Billion...
(The incident Radiant Energy absorbed as a result of tilt is was warms us in the Northern Hemisphere Summer months. There is more Flux per Unit Area.)
It is obvious that you have no grasp of research. Yes Applied Physicists will attempt to duplicatre nature because of their understanding of Nature. Nature is the best instructor.
The physicists researching it have contained Plasmas. Hell I enjoy my Plasma Globe which I bought at a Novelty Store..
But that is Net Energy Negative...
Enjoy wallowing in ignorance.
Most probably a scam of some kind.
I have been watching Rossi's LENR E-Cat and thinking that cheap energy would help everyone and make a better world.
We have too many people in control who want to make the world misery for everyone. There is too much money in expensive energy to allow for cheap energy.
Got to buy up the patents on this cold fusion process and put that bich on the shelf ! ! ! !
Electric motors are more efficient. Batteries are not.
Difference beteen a battery and a tank of gas? First of all, a tank of gas only contains 1 of 2 active ingredients. A weight of 1-2 passengers worth of O2 is absorbed to every full tank. That's something the car doesn't have to carry around. Also, as the gas runs out, the car actually gets more efficient with the reduction in net mass. A dead battery, on the other hand, weighs as much as a charged one.
Walls of a gas tank can be made of thin light material. Batteries, in comparison, have to contain many passive ingredients - insulators, inhibitors, catalysts conductors. More dead weight!
You want efficient electric transportation? It exists. It's called trains, trams, and trolleybuses. An engine without a battery is a sure winner over the internal combustion alternative, but the benefit comes with obvious limitations.
As for the excess heat - charging, discharging, power generation, transmission, conversion all generate heat. Just because it doesn't come out of an exhaust pipe, doesn't mean it doesn't get wasted.
Heat emitted during gasoline burn is not exactly waste. Wrap thermal insulation around your components and see what happens to the efficiency curve. If you wish, plaster Peltier plates around the exhaust and let them charge the battery. You'll be wasting more energy than is lost to friction and inductive resistance in a typical alternator.
At winter time combustion heat keeps the insides warm at no extra energy cost. Wasting amps to keep heaters and appliances running in an EV - now that's something you'll feel immediately. 2 words familiar to every EV driver: "range anxiety".
The way things are in transportation has to do with costs, efficiencies and economic viability. There is no evil conspiracy. Engineers aren't stupid either. They do what works best.
Tell EVERYONE where the generation of electricity comes from, Tom. Oil-fired and coal-fired and wood-fired and OTHER-fired thingies that generate heat to boil water to spin turbine wheels that generate power...
You sound like the fool that states that the technology to take care of nuclear waste has yet to be 'invented', but will INEVITABLY be invented...
The technology to 'take care' of the lead-acid reactants has YET to be invented, and you are already talking about COLD FUSION (a theoretical mindfucking technology of the FUTURE)?
There are ELECTRIC 'CARS', YOU KNOW. I had several when I was a child. They ran really well (until the batteries died). Later, i went to work for a subsidiary of the ElectroMotive Division of General Motors (they build the diesel-powered engines that generate electricity to power electric motors that turn steel wheels that allow locomotives to haul loads; coupled to cars that are enslaved to tracks). In a good state of tune, the EMD 16-645-E3B can generate upwards of 21,000 ft/lbs of torque at 904 RPM, and a fuel consumption of 3.8 gallons per minute. I don't know how many lithium-ion Elon Musk-corporate-sponsored facsist-powered Soetoro-batteries this could recharge (when you plug them in to the power grid).
Did you 'read the report' yet, Tom?
um..batteries
Four wheels, that is so 20th century,
flying cars!
https://www.youtube.com/watch?v=FY85eExk7Zo
Yes, I grew up with the Jetson's and have been waiting for a flying car ...one that will fold up in a breifcase!
Interesting. I assume either the USG or Big Oil (samething?) will obtain the patent.
So this is a perpetual energy machine? Very exciting. Can I send you my flash drive loaded with bit coin strings to invest?
Ants can lift like 20 times thier weight.
If we could just make enormous ants.....
Think of the possibilities!
Cold fusion would solve basically every economic problem we have. This thing, however, looks like a length of capped pvc pipe just sitting on a metal rack, and it glows when activated. Sorry, a fusion reactor would look a little bigger than something Napoleon Dynamite could make. Also, there are grammar mistakes in the report, and no mention of fusion. The drop in oil price is because of the end of QE, the end of the Chinese building boom, record numbers of people all around the world just sitting at home with no job, all the fracked oil finally coming to market, and ISIS selling oil at 1/3 the price.
Hi President Obama,
While you are absolutely right, but how can you explain that everything has happened in terms of oil price dropping, high cost oil production going bankrupt and capital spending halting on rigs and stock markets plunging just in Nov and Dec 2014?
It has to be attributable to forces beyond the 5 reasons you have provided, I think.
There is no logical reason that oil would go from USD 107 on Jun 6 2014 to USD 47 on Jan 7 2014, a 56% decline in 7 months and bulk of the decline from Oct 6, 2014 when it was last seen at USD 90 and not even once since at USD 90 (47% decline just since Oct 6, 2014)?
PS Just in case you thought China is slowing...please see just these 2....
300 infrastructure projects worth RMB7tn/USD 1.1bn fast-tracked, sources sayhttp://www.chinaeconomicreview.com/300-infrastructure-projects-worth-rmb...
S China city's car restrictions spark panic, buying blitzhttp://www.icrosschina.com/insideout/2015/0106/7358.shtml
Ever seen massive line ups to buy cars in another country EVER?
As for china, they have all this money to burn on stocks, cars, gambling, and education because they've been divesting from their massive housing boom, and still think there won't be a crisis. You could be right, though, that that crisis isn't here yet. If you are indeed a Dubai banker, then you must be quaking in your boots right about now, and wondering how this is possible, since oil is always becoming more scarce.
There just is a price that, at some point, people cannot afford to pay. And since this high price makes oil consumers poorer anyway, then they simply can't buy it. Think about the example of Easter Island. That civilization cut down all their trees. As they were cutting down the last ones, would you have invested in a lumber mill? Obviously not. They'd go out of business too.
Peak oil is still here, it's just that this glut will reveal how little recoverable oil there is that'll fetch a profit. After many bankruptcies, oil will go back up again. Repeat the boom/bust until all the oil is used up.
As for how it happened so suddenly, I have no idea. Just like the huge gold drop a few years ago, totally unexplained, and the oil surge in 2008. I think it could be a result of QE ending, somehow. I live in Taiwan, and I know that it's seriously weakening right now. Half the halogen signs on the street are now only half-lit. They're also starting to follow Abenomics... =-O
Hey, I'm going to be out of a job soon, as a matter of fact. You hiring over there? I think I know the answer already.
China may have its problems but they are not as bad as they have in Japan or US or Spain! Until their problems reach 90% levels like in US, Japan or Spain, they will do just fine.
As far as Dubai is concerned. I present to you a little flavour of what is happening here in order to inform you that indeed Dubai is hiring and things are doing just very very fine! And you are welcome to give it s shot in a city whose population has doubled since 2004 and their hotels have doubled since 2010 and will double again in the next 5 years and reach from 657 hotels today to about 1,200 hotels in 2020!
Dubai’s Tecom Reveals Details Of Dhs4.5bn Investment, To Launch Innovation HubDubai: Tourism strategy on
track
Dubai’s wholesale and retail trade sector overview
Lots of mega projects are just getting started...
Watch out for these Dubai mega projectsThe budget is doing just fine as announced earlier this week:
Dubai passes first deficit-free budget since crisisCheck this video:
Dubai Airport $32billion expansionFrom what I know of what is coming in Dubai, you have not seen nothing yet...the best of Dubai is yet to come, regardless of the oil price. Until date what we have seen or heard or has been announced is not even one third of what is under planning for the future of Dubai!
Oh God, yes, you will have many vast, expensive, empty hotels in the future. Ghost cities, just like China's. Tell them to call it off, before you throw all your country's oil wealth away. Tell me, if the rest of the world is so screwed, then who's going to visit Dubai's hotels?
Also, what percent of the Burj Khalifa is occupied? Will it ever be even 1/5th occupied? What economic forces drove you guys to build that thing, other than sheer one-upmanship? There is no other building in that city that even approaches that height, and for good reason. It's totally unnecessary.
Taipei 101 is the same way. Nothing but a dick-measuring contest, and whoever wins goes bankrupt the hardest.
The Middle East is sitting on a treasure trove, and I'd be bullish but for the fact that you're frittering it all away.
From what I know, last 20 years the Dubai hotels have been busy and fully occupied.....and same will be the case for the next 20!
Burj Khalifa is built by world's leading scientists but could be accomplished (just like the only world class man made city bullt in water - Palm Jumeriah) only in Dubai!
If I ask what is going in Empire state building or Petronas towers without the oil company, then the answer everywhere is the same, they are just tourist attractions because it is impractical to live in them.
Middle East, I dont know. But Dubai and its neighbouring emirates will be just fine.
http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2014/...
Also, I believe precisely nothing coming out of China, the stock fraud capital of the world. Everything sounds great about their economy now, but the Bric countries that all got rich selling raw materials to China are all crashing right now. Something's fishy.
Also, in that article, the Chinese are all rushing to register their vehicles because the government is restricting car registration. I know for a fact that in Shenzhen, there's a massive push to make all transportation electric.
www.plugincars.com/all-shenzhen-buses-and-taxis-be-electric-five-years-1...
Good luck to you, sir. Try not to get decapitated by your clients.
- President LaForge
That is quite the extraordinary claim. It requires extraordinary evidence. Now, give me a reactor that I can poke around, experiment with, and actually use. That is the level of evidence required.
The Rossi device is old news. Reports of success and then more reports of success, followed by more reports of success. These were supposed to be installed and operating two years ago, hundreds of them. The claim is that these are made from simple low cost materials with a result of almost free energy.
The only conclusion is that Rossi is running a scam.
However I have some faith that LENR is not a scam. It is just not understood well enough to be used. Too many reputable researchers report results of excess energy generation.
From everything I have seen lately, third parties are running the tests on LENR E-Cat with Rossi's blessing.
I am not saying he is a legit or a scam. Very little was going on until Rossi came out with his E-Cat.
Northern Italy has been very good with metal alloys for hundreds of years. Maybe he figured out something.
Italy or Rome came up with something that anyone would have thought impossible. Underwater contruction using concrete. It helped build the Roman Empire and was a closely guarded secret.
Only recently have they figured out the secret. Many Roman saltwater ocean tidewaters around the world have lasted over 2,000 years!
http://www.businessweek.com/articles/2013-06-14/ancient-roman-concrete-i...
Even today - Roman concrete seems impossible or magic.
dubaibanker,
+100. thank you for the links.
Doesn't sound like a perfect validation of the tech to me:
Despite all the above important improvements, the study betrays one of its major shortcomings in clear already on page 7, when it clarifies that the inventor of the device took part in the experimental activities:
This means that part of the test was conducted with the physical presence of Rossi in the critical phases. Here it is useful to remember one famous quote by Dick Feynman: "I believe a scientist dealing with non-scientific issues is as dumb as the next guy". With this I mean to say that the authors of the study, despite their curricula and scientific reputation, may have overlooked some simple trick. The absolutely mandatory requirement for an independent test is the total absence of the interested party from the scene. So it is a rather idle occupation to read the rest of the 53-page document.
from http://www.science20.com/a_quantum_diaries_survivor/cold_fusion_a_better...
Lockheed Martin released some info on their fusion reactor skunkworks project that looked promising last year. Seemed like a few years to a prototype from what I could tell.
If JP Morgan had not destroyed tesla's coil wireless transmission system in favor of Tommy 'DC' Edison, we would have no need for nuclear, or cold fusion.
No worries, just as soon as the bankers figure out how to fuck us with it, your home free...
No pun intended.
if you had remained silent; no one would have known that you are completely ignorant; as it is; those of us who are not do know. There was never any wireless transmission system. Tesla, t he man, was a showman, and a very un-satisfactory character.
Okay; I'm reading it now; meanwhile; i"m long one Russian Ruble contract from .0153; basis Mar.'15; as of this afternoon.
Well; it's either a scam or unknown physics. the measurement techniques are beyond reproach; but there;s no "certified chain of custondy" for the "ash"--delivered for analysis after the run. A scam can be performed by slieight of hand substitution of material. Other than that; it's quite baffling.
Anti-Trust in USA, Forgotten?
- Bad Trend for Competition & Capitalism, Why No Outcry, Where is the Rage, Why don't people Name the Enemy??
http://research.stlouisfed.org/fred2/series/USNUM (Steep Decline in number of US Commercial Banks)
Let us count the many Legislation on Anti-Trust... oh, not enough space here...
Excellent post bag man-to the point with humor-had to give U a green.
Add this to the list.
Ensign Energy Services (oil field equip)--lay off 700
Antero Resources (oil field land management) lay off 250
US Steel --oil pipe plants-lay off 756
this in just last 3 days---more to come.
How it was done to the Asian Tigers...conjure money out of thin air, force them to borrow, remove liquidity, force changes in law/structure/ownership, i.e. THEFT
https://www.youtube.com/watch?v=p5Ac7ap_MAY
hehehe
Bad thing that predatory lending is not persecuted.
Half a trillion dollars worth of junk bonds are going to be a bitch to pay out when the corporations have no collateral what with oil trading below $70.
All those graphs don't show the most important thing, cash - they only go broke when they run out of cash.
Until then there's always the hockey stick to keep investor's hopes alive.
will say it again... CASH IS KING
As luck would have it that's about the same amount that is sitting doing in retail deposit accounts jus waiting to be liberated for this event.
In this case, the derivatives are not speculative. They are utilized to directly mitigate price exposure. Had these companies not hedged they would be filing for bankruptcy already. Your comment reveals your lack of knowledge about such products and your inability to utilze independent thought.
Now go ahead and click the down arrow
There is no such thing as a "non-speculative" derivative- even buying a protective put is a speculation. There is always a cost with derivatives, ergo there is always speculation with derivatives.
Your grasp of derivatives extends as far as Wikopedia allows it to- your cut-and-paste post reeks of 8th grade finance.
Go back to your balanced growth fund.
More like a government cut'n paste. Wikipedia at least acknowledges the prospect of counter party risk. The OCC, however, does not.
Foreward contracting for the sale of a commodity is not speculating.
It provides a certain sale at a certain price.
Buyer has a certain future supply at a certain future price.
Get back to playing that child's game of Risk and stop showing your ignorance.
It is speculation. It is speculation that the producer will be able to produce the product. It is speculation that the "certain" future price is reasonable, i.e. in line with both production costs and what the consumer can afford. This is often somewhat safe speculation, but it is speculation none the less. Forward contracting is trying to nail what the future has in store. That's speculation on the future for fuck's sake. It's not always evil or even irrational, but it is not always going to be in line with supply and demand either.
Tell that to AIG. Oh, wait, they were bailed out because they issued a shitload of derivatives so that other companies could "mitigate" their price exposure. You paid for that mitigation. Tell me, what good is that mitigation if the counter parties go tits up?
"Tell that to AIG. Oh, wait, they were bailed out because they issued a shitload of derivatives so that other companies could "mitigate" their price exposure. You paid for that mitigation. Tell me, what good is that mitigation if the counter parties go tits up? "
THe mitigation is good as long as there are Bail-ins and Bail-outs.
I'd sell insurance in any amount to anyone who wants it for any fucking reason all day every day if I knew I could make YOU pay for any and all claims in perpetuity.
What's not understood here?
So we have a nice big pile of tickers here. Which to short? Anyone want to run the ol' DCF on these names on the list? Which of these are going to fall on their faces soon... General commentary is fun, but I have some gambling to do, and would like to see people post actual analysis, perhaps? Or am I in the wrong place... fool.com buy our newsletter, casey research buy our newsletter, just newsletters everywhere, and ZH is fun but doom porn comments get tiring when a dude is trying to retire.
Yup and wait till derivatives die a painful death, but right now, you should see far the markets have come in the last several years =>http://www.bit.ly/1fMcakI
I think the powers that be want things to be really really bad, before they topple things over and we crash, right now they are not bad enough. They want a complete wipe out of the system. Not just a GFC. That is their plan and they will stick to it, I think.
NotApplicable,
They already do. Here's the Pass-through-to-the-sheeple end product...
BULLISH!!! The results are in!!
if Oboy wants to claim responsibility for hurting russia with the oil price then he can also take responsibility for the coming cascade of failing shale oil companies.
Shale oil will be the first casualty but the bankruptcy circle will begin to expand further if this trend continues. We don't only have a crashing oil price, we have crashing commodity prices across the board, Baltic Dry looks bad, and the dollar is strengthening. I read the latter as a sign of ever tightening liquidity leading to further contraction in the face of ever expanding debts. Shale is only the beginning of this mess, moar QE until control is totally lost the most likely outcome.
Maybe he's wanted to do this all along. Maybe it just took 6+ years for economic conditions to ripen/spoil/rot/putrify so he could fulfill his destiny: To end our reliance on fossil fuels and lead us to the renewable energy paradise.
Obama's Nomination Victory Speech In St. Paul June 3, 2008.
Excuse me while I go vomit.
I just don't understand what happened? /sarc
I'm not seeing any 'own your own oil well ads anymore'....lol
NG should get a lift, at least back to par with crude.( LifeForce T-Boost )after Obama and his glorified golf cart transportation revolution are out of office then real solutions present themselves