Davewmart

The Oil Casino: SEC Heading for Monte Carlo, Part III

'could it not have even bigger implications on the nat gas market as there have been so many "huge" discoveries recently? '

That is what I am worried about. Everyone but complete fools - ie politicians and he mass media, is aware that oil is going to be scarce and expensive, but we are being cornered into ever greater dependence on natural gas.
In a recent discussion on wind power, we bumped up against the fact that nothing, not wind power, nuclear power, or anything except coal is economic against gas power.
We are told we have 100 years supply, but have we?

The latest techniques rapidly deplete these unconventional wells of gas - after 12 months they are in severe decline, so we are dependent on continually developing new ones.

If gas supplies are also 'mark to fantasy' just like the financial markets then we could fall off a cliff.

25 Reasons We Will Not Have a Depression

Kimball Corson said:
'That is what I had intended to do, but so many were so far off the wall, I threw up my hands, and posted the comment I just did. I had even thought of additional articles addressing any good, new points in opposition, but I did not see any. '

This reply again does not make any substantive reply to criticism, but resorts to generalised rhetoric.
If you have a criticism of specific comments, make them.
Your replies to date merely indicate that you are unwilling to attempt to substantiate the points you made in the article, and indicated that you merely presented them as a form of provocation to bait those whose general attititude you conceived to be in error.
You now attempt to make the fling that 'I did not see any good points made' - or at least new ones.

This argument might perhaps apply more forcefully to your own article, which is something of a laundry list, apparently presented without any sincere purpose.

It seems a shame that you do not want to attempt any constructive reply to those who have taken the trouble to read and reply to your article.

But then your reasons for penning it were, on your own account, disrespectful, and so courtesy is not to be expected.

Good day to you.

25 Reasons We Will Not Have a Depression

Kimball Corson said:
'I wrote this article first to see what favorable information on the economy could be quickly gathered and presented, but also to flush out as many pro depression and dooms day scenarios in opposition as I could. It appears I have succeeded.'

I believe this practise is also known as trolling.
It might perhaps be more productive if you made substantive replies to the points made critiqueing those made in the article.

I do not disagree with the basic premise that we have responsibility to try our best to deal with the situation as we find it, and not just throw up our hands in dispair, but this is a different matter to trying to realistic appraise our present circumstances, and sweeping characterisations of those who may have different opinions to our own as either doomsters or cornucopians do not seem to me productive.

25 Reasons We Will Not Have a Depression

Swashbuckler, thanks for the link - I seem to get the discussion, but not the graphs by Googling.
Still, not to worry, thanks for the info.

25 Reasons We Will Not Have a Depression

Swashbuckler,
You comments were interesting, but I do wish that people who make such extensive reference to other data would provide links so that those of us who are interested can investigate further.
Where is this Freya blog?

Commercial Real Estate Cliff-Diving Continues

The investing class is broke, as the money has been poured into non-productive assets.
The shenanigans in the budget are all to fudge this basic fact, that the money has been blown.
To disguise the real situation, money is being poured out which is desperately needed to prevent hunger and homelessness.

25 Reasons We Will Not Have a Depression

'Oil prices could be a lot worse'

Check out the level of oil prices now in the middle of a major recession.

Since even at these prices the level of investment that the IEA says is needed to ensure future supplies is just not happening, and new ones are on the lines of the vastly expensive and difficult to extract Brazilian deepwater fields, it is quite clear that any recovery would see oil prices go through the roof.

The whole of our financial system is based on the idea of unlimited growth, and it is toast without it for any prolonged period of time - look at pension liabilities for a start, not to mention the budget deficit.

So on this grounds alone, ignoring the total failure to address systemic failures in the financial system and the inevitability of their recurring if they are not dealt with, it is inevitable that the economy will melt down.

There is no easy way out.
I wish that were not so..

The Oil Casino: SEC Heading for Monte Carlo, Part III

I'd suggest contacting 'The Oil Drum' to offer this as a guest post - that is pretty well where all the info on Peak oil is collated

The Oil Casino: SEC Heading for Monte Carlo, Part III

Thanks for blowing the doors off of this scam.
Wishful thinking still rules in the corridors of power, with liars cross-refering any questions to other 'authorities' - ie other liars.
So the Governments provide the funding for and heavily influence the IEA, but claim that they base their enrgy supply projections on an impartial body's figures - that same IEA.

The Uppsala report, critiqueing the IEA's projections, is worth a read.
It boils down to the IEA assuming that exploitation rates of will suddenly take off to much higher than historical rates, for unexplained reasons:
www.tsl.uu.se/uhdsg/Pu...

According to them, we can expect to have oil supplies reduced to around 75mb/d by around 2030, from the current 85mb/d.
With a growing world population and massive demand from the BRICs, this is crisis levels.

So it looks as though they are settling on a new pack of lies to tell, presumably hoping to hide th truth out to maybe 2020.
Some more rationales will likely have to be found to invade anyone who might have some of the dwindling supplies of oil.

Any info on what tricks are being played with the latest fracking methods for gas extraction?
That seems to be the current 'inexhaustible resource'.

Geithner's Bad Judgment Leaves Taxpayers Holding the Bag

Geithner handled the bail-outs very well.
His responsibility is to the banks, not the taxpayer, and he got them as much money as he could.
Brillliantly, he is now suspected of incompetance, not corruption - not a bad rap when you have siphoned off hundreds of billions.
Of course, legally, his responsibility was always to the banks, not the American taxpayer.

Are U.S. Consumers Saving Enough?

As asset values plunge, it seems doubtful that many will go for the BAU strategy - and even more doubtful that their creditors will allow them to do so.

Chinese Wind Power Plant Coming to U.S. Soil

H.T. Love,
I suspect that the complicity of the British and American people goes a bit deeper than this, although hardly at the level of the actions of Belgium in the Belgium Congo, and other unsavory incidents in colonial and neo-colonial history.
We don't disagree about the people, but I am not looking forward to the same people who have profited by exploiting other countries whipping up populist fervour against having their power base challenged by take-overs from the elites in other countries.
It is hard to imagine a more useless shower of greedy incompetants than our present rulers.

Chinese Wind Power Plant Coming to U.S. Soil

H.T Love:
!!! That is precisely the deal that the US (and UK) have been offering other nations for donkey's years, and fulminating about restraint of trade, socialism and God know's what whenever it was questioned.
So are you saying that in fact the US was sticking it to everyone else for years, and if so why complain when you get the reverse of this deal?

I have never been a big fan of interntionalism, but perhaps some reciprocity from it's biggest exponent is in order.

Chinese Wind Power Plant Coming to U.S. Soil

robert said:
'Once the price of oil went below $120PBL he said the project was no longer viable and went looking for a better mouse trap. '

that is why I don't take too much notice of levelised costs.
It is usually not clear what is included and what isn't, and certainly in the case of wind ancilliary costs, connnection costs, back-up etc are high.
At current natural gas prices anything else is dead, but that is not to say that ever increasing reliance on this energy source is wise.

Hyperinflationary Depression Must Be Avoided

Societe General is not quite so optimistic as this article!
www.telegraph.co.uk/fi...

That is the first article by one of the powers that be cautioning about a possible total economic collapse that I have seen - possibly within two years.