Israel's Huge Oil and Gas Discovery [View article]
Gobs and gobs of shale oil in the US, that may or may not exist in the amounts claimed, and now gobs and gobs of oil and gas in Israel. I tell you what, I'll believe it when I see it. I remember how, a hundred or so years ago, someone said to me that if you look at a map showing oil production, then it was easy to conclude that there should be oil in Israel. Now, after many many years they are just - ostensibly or apparently - finding that oil. I tell you what, I'll wait a while before I believe this.
Why Are Natural Gas Producers Expanding Production So Aggressively? [View article]
"...feeding with money taken from future generations." I almost tuned out after reading that nutty observation - as if the present government is the first to do that. Mr George W's government was one of the champions at that operation.
But I stuck with it, and I'm glad that I did. This is really a very good, well written article. And yes, things have come to a point where many corporation executives don't give a damn what happens to future generations, as long as they can keep increasing their net worth.
U.S. Jobs Propaganda Gets More Desperate [View article]
Personally, I'm not worried about a few lies and/or misunderstandings. After putting up with people like Cheney and Rumsfeld, the present government smells like roses. Note that I didn't mention George W. and Condoleeza: for them anything that couldn't be proved a lie by people who believe in them was the truth. What bigger lie has any American government ever foisted on the voters than the WMD scam?
Unfortunately I couldn't 'raise' the dialogue between these two performers, but perhaps it was all for the good. Stewart's gutter language and the hilarious laughter of his audience is a large part of what is wrong with the US.
Recent Policy Decisions and a Greater Depression [View article]
Although I'm one of the best economics teachers in the world, I quit teaching macroeconomics because I lost my faith in it. I kept my macro books however. I think though that I will throw those books out into the snow, because if someone who knows the terminology comes to the conclusions of Mr Kee, then I don't want to be tempted to ever stand in front of a macro class again.,
Gulf Oil Spill Could Spell Disaster for U.S. Energy Independence [View article]
This is an interesting and valuable article. The expression 'energy independence' bothers me though. In the paper that I am working on now I use an expression that I have never done anything with before, although I might have alluded to it. That expression is ENERGY SECURITY. Energy indepence means being in a position to tell anyone on the sell side of the energy market that they can go to blazes if you don't like their terms. I doubt whether the TV audience is interested in supporting a government that goes in for that sort of extremism, assuming that they understand what it costs. Energy security means having the assets necessary to reduce rather than completely eliminate the demand for X and Y from sellers who have come to the conclusion that they can take advantage of you, and in addition to make it uncomfortable for them if they do not get the message. If this is done right - by intelligent people rather than fanatics - it which may eventually bring about one of those sweet 'equilibria' that we try to tell our economics students about.
I don't agree with much of this article, but it is well written, and if I still taught the stuff that it contains, I would like for my students to read and discuss it. The main problem though is that having worked in Hong Kong, I have the feeling that the Chinese - and in particular their government - are playing a winning hand. Of course, maybe I get that feeling from living in a country (Sweden) where fools gave up control of their future by entering the European Union.
Madoff's Investors Don't Deserve Compensation or Sympathy [View article]
Interesting and well written article, but I question its logic. The rich, nearly rich, and soon-to-be-rich have always gotten the best seats at the American table. Always have and always will. To think otherwise is to doubt the American way.
Good comments about the ignorant Ronald Reagan. What you forgot to mention though was that he set some kind of borrowing record during his presidency. California was good to me personally, however. I did well in a graduate course in engineering at UCLA, and a few days after receiving my grade I was fired from my job at Hughes Aircraft. In case he is tuned in, thanks loads Michael May.
Rick Santelli: The Best Five Minutes in CNBC History [View article]
A distribution of wealth to the lazy and ill educated, AND ON TOP OF THAT A DETERIORATING FOREIGN POLICY. I think that the author means the possibility of a deteriorating military policy, such as not fighting in Iraq for another hundred years in order to win a war that was won five years ago, and in addition beefing up the Afghanistan commitment. He can't mean a "deteriorating foreign policy", because all the 'foreign' newspapers that I read think that President Obama is the best thing 'since the discovery of light', as one ignoramus put it, and I don't know of any mainstream political party in Scandinavia that does not feel the same way.,
The Good, The Bad, And the Inaccurate Oil Forecasts [View article]
Well Dr Conerly, I'll take charge of the forecasting. Oil will definitely go to $70/b again, and that will just be the beginning. It is absolutely impossible for supply to keep up with demand - at least in the very short run, and maybe longer. However I see no reason for this upswing to take place as long as the global macroeconomy and financial markets are in the present condition.
As for your failure to discuss speculative excess, take my advice and don't worry about it, because while there was speculation, there was no excess.
Huge Chinese Demand to Drive Uranium Export Boom [View article]
Excellent article - very informative. And of course there is probably more thorium in the crust of the earth than Uranium, so the Chinese should not run short anytime soon of fissionable materials - and not just soon.
MOREOVER, if they thought that they would run short, they would go to breeders, although it might take a while to get the technology they prefer. On the other hand, I would not be surprised if they were able to produce high quality breeders much sooner than anyone else.
I notice that somebody wants to know why governments want to supply China with Uranium. I don't know about governments, but mining companies have a very good reason: it's called money. As for Chinese nuclear warheads, I don't understand why anybody would concern themselves with that. The nuclear that goes into warheads isnt used to generate electricity for the Chinese factories that are going to produce the items that were once produced in the ....democratic countries.
4 Reasons to Be Long Oil - And Nothing Else [View article]
Interesting article, but more complicated than necessary.
Suppose you were a director of OPEC, and you and the other directors were at my favorite watering hole in VIenna, and the TV was on, and some infotainment from CNN reported a sharp fall in the oil price.
So the next morning, some time between the hash-browns and the 'ten o'clock tails', the research people come in and tell you how they would handle the decision. A suggestion is made by the commander in chief, who asks for a show of hands, and the result is a unanimous vote for a decrease in production. That evening Fox News Infotainment comments on the upturn in oil prices. I predicted this sort of thing in my oil book thirty years ago, and now it's a reality, and when the global macroeconomy is back in the groove, it will be happening 3 or 4 times a week. The oil price will easily break 100.
Wind Energy: Freedom From Fossil Fuels or Tempest in a Teapot? Part II [View article]
This article is too long. Its length will keep it from being read and fully digested by the people who need to read and digest it, because it is excellent.
Except for the part about the subsidies. Taxpayers apparently paid for the Swedish nuclear inventory, but ex-post taxpayers - as a group - were winners. A few days ago a German gentleman sent me something (in German) about how Germans were looking forward to more solar. Where do people get ideas like that?
Finally, where wind is concerned I attended a seminar a few months ago where several super smart people defended some crazy idea about a grid circling not the Meditteranean,. but just about all of western Europe. As a colleague of mine once said, if Joseph Goebbels heard people talking like that he could only shake his head, because he was an amateur..
Oil Breaks 50- and 200-Day Moving Average in the Same Day [View article]
Instead of being a brilliant teacher of energy economics, maybe I should sign up for the freshman course in that subject at Boston Public next month. I'm not sure that I understand the logic in this short article, and I definitely can't figure out what Ms V is up to. What I do like however is her dislike of just about everybody with a Washington address. If that dislike is based on their limited knowledge of energy economics, then I am definitely on her side.
Israel's Huge Oil and Gas Discovery [View article]
Why Are Natural Gas Producers Expanding Production So Aggressively? [View article]
But I stuck with it, and I'm glad that I did. This is really a very good, well written article. And yes, things have come to a point where many corporation executives don't give a damn what happens to future generations, as long as they can keep increasing their net worth.
U.S. Jobs Propaganda Gets More Desperate [View article]
After putting up with people like Cheney and Rumsfeld, the present government smells like roses. Note that I didn't mention George W. and Condoleeza: for them anything that couldn't be proved a lie by people who believe in them was the truth. What bigger lie has any American government ever foisted on the voters than the WMD scam?
Cramer Grilled on Jon Stewart [View article]
Recent Policy Decisions and a Greater Depression [View article]
Gulf Oil Spill Could Spell Disaster for U.S. Energy Independence [View article]
China's Yuan / Dollar Peg: Untenable, Unsustainable, Indefensible, Unsound [View article]
Madoff's Investors Don't Deserve Compensation or Sympathy [View article]
California's Default Is Certain [View article]
Rick Santelli: The Best Five Minutes in CNBC History [View article]
The Good, The Bad, And the Inaccurate Oil Forecasts [View article]
As for your failure to discuss speculative excess, take my advice and don't worry about it, because while there was speculation, there was no excess.
Huge Chinese Demand to Drive Uranium Export Boom [View article]
MOREOVER, if they thought that they would run short, they would go to breeders, although it might take a while to get the technology they prefer. On the other hand, I would not be surprised if they were able to produce high quality breeders much sooner than anyone else.
I notice that somebody wants to know why governments want to supply China with Uranium. I don't know about governments, but mining companies have a very good reason: it's called money. As for Chinese nuclear warheads, I don't understand why anybody would concern themselves with that. The nuclear that goes into warheads isnt used to generate electricity for the Chinese factories that are going to produce the items that were once produced in the ....democratic countries.
4 Reasons to Be Long Oil - And Nothing Else [View article]
Suppose you were a director of OPEC, and you and the other directors were at my favorite watering hole in VIenna, and the TV was on, and some infotainment from CNN reported a sharp fall in the oil price.
So the next morning, some time between the hash-browns and the 'ten o'clock tails', the research people come in and tell you how they would handle the decision. A suggestion is made by the commander in chief, who asks for a show of hands, and the result is a unanimous vote for a decrease in production. That evening Fox News Infotainment comments on the upturn in oil prices. I predicted this sort of thing in my oil book thirty years ago, and now it's a reality, and when the global macroeconomy is back in the groove, it will be happening 3 or 4 times a week. The oil price will easily break 100.
Wind Energy: Freedom From Fossil Fuels or Tempest in a Teapot? Part II [View article]
Except for the part about the subsidies. Taxpayers apparently paid for the Swedish nuclear inventory, but ex-post taxpayers - as a group - were winners. A few days ago a German gentleman sent me something (in German) about how Germans were looking forward to more solar. Where do people get ideas like that?
Finally, where wind is concerned I attended a seminar a few months ago where several super smart people defended some crazy idea about a grid circling not the Meditteranean,. but just about all of western Europe. As a colleague of mine once said, if Joseph Goebbels heard people talking like that he could only shake his head, because he was an amateur..
Oil Breaks 50- and 200-Day Moving Average in the Same Day [View article]