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Keyword: opec

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  • First “Illegal” Shipment Of Oil Leaves Eastern Libya

    04/27/2016 11:52:15 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 27-04-2016 | Slav
    A cargo of 650,000 barrels of crude left the Libyan port of Hariga yesterday, in the eastern part of the conflict-torn country, sparking what promises to be another phase in the conflict as the Islamic-leaning government in Tripoli vows to block the maneuver. This premature attempt at crude oil exports could have huge implications for international efforts to unite the country under the new Government of National Accord (GNA), which was formed with UN support, because eastern Libya is controlled by a government based in Tobruk, which has not yet recognized the GNA of Fayez Serraj.
  • About Oil, Obama Has Been Dead Wrong

    12/28/2015 5:03:23 AM PST · by expat_panama · 38 replies
    The Washington Times ^ | Stephen Moore
    The green doomsayers have repeatedly claimed the fuel is disappearing It would be hard to find anyone in all of America who has been more wrong on the American energy story than Barack Obama. Oil prices have fallen from $105 a barrel in the summer of 2014 to hovering at $35 a barrel today. That’s a two-thirds reduction in the price and the biggest factor is shale oil brought to you by fracking. In many areas of the country gas is now less than $2 a gallon and it could fall further in the weeks ahead. The falling price means,...
  • Study: European Plan To Reduce CO2 Emissions Actually Increased Them(DOH!)

    04/26/2016 9:29:03 AM PDT · by rktman · 16 replies
    dailycaller.com ^ | 4/26/2016 | Andrew Follett
    Europe’s plans to reduce carbon dioxide (CO2) emissions by switching from conventional oil to biofuels actually ended up increasing emissions, according to a study published Monday by the environmental group Transport & Environment (T&E). The study found, on average, biofuel from vegetable oil creates 80 percent more CO2 emissions than the conventional oil it replaces. The report estimates the biofuels create new emissions equivalent to putting an extra 12 million cars on the road.
  • Drill will: America, not OPEC, decides the fate of global oil markets

    04/25/2016 2:55:17 PM PDT · by 2ndDivisionVet · 11 replies
    The Economist ^ | April 23, 2016
    “WE DON’T care about oil prices,” Muhammad bin Salman, Saudi Arabia’s deputy crown prince, recently told Bloomberg, a news agency: “$30 or $70, they are all the same to us.” Such comments by the man calling the shots in the world’s biggest oil power should be taken with a pinch of salt. Low oil prices cost the country billions, threaten its credit rating and are turning it from creditor to debtor: this week it set out to raise $10 billion from global banks. Yet the claim is not entirely hollow, either. Saudi Arabia is determined not to give any succour...
  • Gas power passes coal for the second time ever

    10/08/2015 5:32:05 AM PDT · by thackney · 29 replies
    Fuel Fix ^ | Jordan Blum
    The amount of electricity generated from natural gas surpassed the share of coal-fired production in July in the U.S. for the second time. The first time was for the month of April, according to U.S. Energy Information Administration. The EIA reported Wednesday that the share of electricity coming from natural gas-fired power plants hit 35 percent in July. It was 34.9 percent from coal plants. The shift comes as the ongoing domestic shale boom produces lots of natural gas at relatively cheap prices. At the same time, few new coal plants are being built nationally because of increasing federal regulations...
  • Fracking topples old King Coal

    10/28/2015 6:50:27 AM PDT · by thackney · 12 replies
    Washington Examiner ^ | 10/26/15 | JOHN SICILIANO
    King Coal may be losing its throne sooner than expected, as the U.S. goes through a change in how it gets the bulk of its electricity. The change is not coming from solar and wind as environmental groups would like to believe, although renewables are growing. The big switch is coming from natural gas produced from fracking shale rock deep underground. Natural gas is replacing coal as the dominant way Americans receive electricity to power everything from their lights to their iPhones to the big screen televisions. It is cheaper than coal, which is why natural gas power plants are...
  • It's Official: Natural Gas is Killing Coal

    06/01/2015 4:42:02 AM PDT · by thackney · 51 replies
    Motley Fool ^ | May 31, 2015 | Justin Loiseau
    There's no denying that natural gas is revolutionizing our energy economy, but few believed it could deal such a swift death blow to coal, the commodity that brought us into the Industrial Revolution and has been our backbone ever since. But the signs are irrefutable. Here's what you need to know. A historic battle Coal and natural gas have been going at it for a while. Traditionally, these were actually complementary energy sources. As a cheaper fuel that was more difficult to manage, coal-fired generation plants were the "slow burners" that kept our energy capacity steady throughout the day. Relatively...
  • Power generation from coal and natural gas expected to temporarily converge this spring

    05/16/2015 6:53:07 AM PDT · by thackney · 8 replies
    Energy Information Administration ^ | MAY 14, 2015 | Energy Information Administration
    EIA's most recent Short-Term Energy Outlook forecasts that the amount of electricity generation fueled by natural gas in April and May will total just 3.5% less than the projected amount of coal-fired generation. This convergence has occurred only once before, in April 2012, when natural gas fueled just 1.5% less generation than coal. Power generation from the two fuels is expected to rise at similar rates over the next couple months, and then diverge again later in the summer as demand rises and coal unit capacity utilization continues to rise. Natural gas-fired generation has been rising over the past few...
  • Six natural gas plants under construction in Ohio to replace coal generators

    04/11/2015 9:59:23 AM PDT · by thackney · 52 replies
    Utility Dive ^ | April 10, 201 | Robert Walton
    Ohio's energy mix is about to change, the Cleveland Plain Dealer points out, with six gas-fired plants on the drawing board and older coal-fired generation set to retire. The accelerated retirement of many coal plants is a nationwide trend, driven by low natural gas prices and EPA pollution regulations. About 60,000 MW of coal fired generators are expected to be offline by 2020, according to the EIA, due largely to the EPA's Mercury and Air Toxics Standards (MATS), and, once it is finalized, the carbon regulations under the Clean Power Plan. The state is also wrestling with energy efficiency standards,...
  • Odessa coal-to-gas power plant to break ground this year

    04/03/2015 4:53:07 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | April 1, 2015 | Ryan Holeywell
    A new power plant in West Texas that could transform coal into cleaner-burning natural gas is poised to break ground later this year, an executive in charge of the project said at a conference in Houston Wednesday. The project, located on a 600-acre site in Odessa, uses coal as a feedstock for a 400 megawatt power plant. But instead of burning it, the plant uses a chemical process to first strip it of carbon, sulfur and mercury. The result, project leaders say, is a hydrocarbon that can fuel the power plan but burns even cleaner than natural gas — even...
  • EPA turning regulatory eyes to natural gas, expert says

    02/04/2015 5:30:06 AM PST · by george76 · 22 replies
    Mississippi Watchdog ^ | February 4, 2015 | Steve Wilson
    A former Environmental Protection Agency regulator warns that while the Obama administration now has coal in its crosshairs, natural gas is next in line. David Schnare cites a proposed rule on methane emissions as one of the ways President Obama and the EPA will clamp down on natural gas. The 33-year EPA veteran, who once sued utilities for coal-fired plants that didn’t meet Clean Air Act standards, is director of the Center of Energy and Environmental Stewardship at the Thomas Jefferson Institute for Public Policy. Schnare said the EPA — as part of its “Clean Power Plan” rule that would...
  • EPA to kill new coal-fired plants through first-ever greenhouse-gas regulations

    03/27/2012 7:37:42 AM PDT · by Qbert · 28 replies
    Hot Air ^ | MARCH 27, 2012 | ED MORRISSEY
    If you thought gas prices will never stop rising, just wait until you see what happens to electricity after the Barack Obama’s EPA gets its way.  The agency will deliver on Obama’s election promise to bankrupt any new coal-fired electrical production in its first-ever regulations on greenhouse-gas emissions, the Washington Post reports.  The new regulatory regime will all but guarantee that new coal-fired plants won’t be built to replace others shutting down: The Environmental Protection Agency will issue the first limits on greenhouse gas emissions from new power plants as early as Tuesday, according to several people briefed on the proposal. The move...
  • The Real Reason Saudi Arabia Killed Doha

    04/25/2016 11:46:55 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 25-04-2016 | Captain Hook
    Saudi Arabia single-handedly scuttled the Doha meeting, knowing all along that Iran would not participate, with a valid reason. The Russians and others agreed to proceed without Iran, planning to include them at a later date. So if everything was known beforehand, why did the Saudi’s pour cold water on the aspirations of the remaining members, risking its alienation from Russia and the OPEC community? Was it simply Saudi enmity toward Iran? Not exactly. Upon closer scrutiny, we can find the Saudi masterstroke behind Doha. It is well known that Saudi Arabia is heavily dependent on oil revenues, and that...
  • Jacki Daily Podcast: ISIS DESTROYS - ENERGY vs ELECTION and EARTH DAY

    04/24/2016 5:40:41 PM PDT · by RaceBannon
    The Jacki Daily Show ^ | 4/24/16 | The Jacki Daily Show
    Jacki is joined by Dr. David Grantham, senior research fellow at the National Center for Policy Analysis to discuss how oil and antiquities from terrorist networks has made its way to America and what we can do to stop it. Jacki also speaks with Brendan Williams to talk about the importance of energy issues in the upcoming Presidential election. Lastly Jacki is joined by Doug Domenech, director of the Fueling Freedom Project at the Texas Public Policy Foundation, to talk about the history of Earth Day.
  • Jacki Daily Podcast: ISIS OIL BEING SOLD IN USA!!

    04/24/2016 5:20:36 PM PDT · by RaceBannon · 12 replies
    The Jacki Daily Show ^ | 4/24/16 | The Jacki Daily Show
    Jacki Talks With Dr. Grantham About How ISIS Oil Has Made Its Way To the USA
  • Mass. Sen. President Rosenberg to Berkshire Gas: Pipeline is dead; lift the moratorium

    04/24/2016 10:30:24 AM PDT · by matt04 · 23 replies
    Massachusetts Senate President Stanley Rosenberg on Wednesday called upon Berkshire Gas to lift its moratorium on new and expanded natural gas service in the region — but a spokesman for Berkshire's parent company, the publicly-traded Avangrid, told The Republican that the moratorium on new hookups would stay in place without a "permanent solution" for additional natural gas capacity in western Massachusetts. ... Berkshire Gas had hoped to purchase capacity on the line. Berkshire's parent company, Avangrid, had also signed on as an investor in the $5-8 billion Kinder Morgan pipeline. Berkshire more than a year ago imposed a moratorium on...
  • Smelling Blood in the Political Water

    04/23/2016 10:27:47 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | April 23, 2016 | Paul Driessen
    The great white environmentalist sharks smell blood in the water. It’s gushing from mortally wounded US coal companies that the Obama EPA has gutted as sacrifices on the altar of “dangerous manmade climate change” prevention and other spurious health, ecological and planetary scares.Peabody Energy, Arch Coal and other once vibrant coal producers have filed for Chapter 11 protection, shedding some $30 billion in shareholder value and tens of thousands of jobs in their companies and dependent industries. The bloodletting has left communities and states reeling, union pension funds and 401k plans empty, and the health, welfare, hopes and dreams of...
  • Huge coral reef discovered at Amazon river mouth

    04/23/2016 11:55:58 AM PDT · by rktman · 32 replies
    theguardian.com ^ | 4/22/2016 | John Vidal
    Scientists astonished to find 600-mile long reef under the muddy water in a site already marked for oil exploration
  • Bipartisan Push on to Oppose 9/11 Bill

    04/22/2016 9:47:40 PM PDT · by Rockitz · 9 replies
    RollCall.com ^ | 19 April 2016 | John T. Bennett
    A Senate bill that would allow families of those killed in the 9/11 attacks to sue the Saudi government has achieved a rare Washington distinction, by uniting the Obama administration and some of its fiercest GOP critics. President Barack Obama and Sen. Lindsey Graham, R-S.C., are rallying to kill the bipartisan plan that would make it possible for American citizens to sue foreign governments believed to be linked to terrorist attacks on U.S. soil. House Speaker Paul D. Ryan, R-Wis., said the plan should be reviewed through regular order before decisions are made about advancing the measure. White House Press...
  • Prince Of Beheading Champ Saudi Arabia Calls Trump "Disgrace To America"

    12/11/2015 12:12:45 PM PST · by amorphous · 22 replies
    Zero Hedge ^ | 11 Dec 2015 | Tyler Durden
    You know you've 'made it' when the prince of one of the world's biggest human rights abuser (and leading 'beheader') nations calls you a "disgrace to America."
  • Report: Obama Seeks Meeting With Iranian President

    04/20/2016 2:13:06 PM PDT · by Sub-Driver · 31 replies
    Report: Obama Seeks Meeting With Iranian President Adam Kredo April 20, 2016 4:06 pm President Barack Obama has sent two letters to senior Iranian leaders in recent months requesting a meeting with Iranian President Hassan Rouhani, according to Persian language reports recently translated by a Middle East research organization. “President Obama asked to meet with Iranian President Hassan Rouhani in two secret letters sent in late March to both Iranian Supreme Leader Ali Khamenei and President Rouhani,” according to the Middle East Media Research Institute, or MEMRI, which translated a Farsi-language report published Tuesday by a website affiliated with Iran’s...
  • 200M Barrels Of Oil Sit In Idle Tankers Waiting To Unload At Chinese Ports

    04/20/2016 1:33:56 PM PDT · by Lorianne · 6 replies
    Oil Price ^ | 17 April 2016 | Irina Slav
    There is a new drama on the oil front: those who have it in excess can’t get it to those who want it—at least not quickly enough for everyone to be happy. A recent Reuters story reveals that tankers carrying around 200 million barrels of crude are waiting to leave or dock at ports around the world, creating “the world’s biggest traffic jam.” One would think that producers and consumers of the world’s most abundant commodity would have had time enough to adjust their port capacities, but apparently this is not the case. Middle East ports are choking on the...
  • The Political Death of American Coal

    04/19/2016 5:07:17 AM PDT · by Hojczyk · 16 replies
    Newsmax ^ | April 19,2016 | Stephen Moore
    There was a time in America — and it wasn't even so long ago — that liberals cared a lot about working-class people. They may have been misguided in many of their policy solutions — e.g., raising the minimum wage — but at least their hearts were in the right place. Then a strange thing happened about a decade ago. Radical environmentalists took control of the Democratic Party. These leftists care more about the supposed rise of the oceans than the financial survival of the middle class. The industrial unions made a catastrophic decision to get in bed with these...
  • U.S. poised to approve Boeing fighter jet sales to Qatar, Kuwait

    04/19/2016 12:22:38 AM PDT · by sukhoi-30mki · 8 replies
    Reuters ^ | Apr 18, 2016 | Andrea Shalal
    WASHINGTON • The U.S. government is poised to approve two long-delayed sales of Boeing Co. fighter jets to Qatar and Kuwait, and could announce the multibillion-dollar deals during President Barack Obama's visit to the Gulf this week, according to two sources familiar with the matter. The decision would mean more job security for thousands of workers at Boeing's sprawling plant in north St. Louis County, where the F-15 fighter and F/A-18E/F Super Hornets are made. Both deals have been stalled amid concerns raised by Israel that equipment sent to Gulf states could fall into the wrong hands and be used...
  • Here’s why Doha failed to deliver an oil deal

    04/18/2016 5:12:45 PM PDT · by Ernest_at_the_Beach · 10 replies
    marketwatch.com ^ | Apr 18, 2016 2:40 a.m. ET | WilliamWatts
    No incentive for Saudis to let up Getty Saudi Arabia's minister of Oil and Mineral Resources Ali al-Naimi (C) arrives for the OPEC meeting, in the Qatari capital Doha, By WilliamWatts Deputy markets editor Why would the Saudis give up now?That’s the question crude oil bulls should have been asking themselves ahead of the Sunday meeting of major oil producers that failed to produce an agreement to put a lid on production. Prospects for a deal fell apart after Iran refused to sign up, prompting Saudi Arabia, the world’s swing producer, to effectively walk away. Those that believed Riyadh had...
  • Hundreds Of European Wind Turbines Are Operating At A Loss

    Hundreds of wind turbines in the Netherlands are operating at a loss and could soon be demolished, according to an article published Thursday by the Dutch financial newspaper Financieele Dagblad. Subsidies for generating wind energy aren’t cost effective anymore, according to the paper’s analysis. Most of Europe’s modern wind turbines are struggling to be profitable due to the inefficient subsidy structure. Financieele Dagblad is extremely worried about the failure of the Dutch wind industry, because the Netherlands is already behind its green energy targets. Dutch financial issues with wind power aren’t unique to the Netherlands. Globally, the wind power industry...
  • As oil output falls, Libya is on the verge of economic collapse

    04/18/2016 2:48:48 PM PDT · by Lorianne · 14 replies
    Washington Post ^ | 16 April 2016 | Sudarsan Raghavan
    The rapid deterioration of Libya’s oil-dependent economy is threatening the objectives of the country’s new Western-backed government and budding efforts to confront the Islamic State in North Africa, political and security analysts say. Within hours of arriving in Tripoli two weeks ago, the government made controlling the nation’s oil a priority. It persuaded a powerful militia to hand over three oil terminals, and the national oil company gave its support. But the road to securing Africa’s largest reserves is riddled with even greater obstacles, and bringing the battered industry back to its full potential promises to be a colossal mission....
  • Half Of Kuwaiti Oil Production Offline After Massive Strike

    04/18/2016 9:22:28 AM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 18-04-2016 | Ali
    While everyone is talking about the failure of the Doha negotiations, Kuwait has more than made up for OPEC’s failure all on its own. Kuwait’s oil workers walked off the job this weekend, flexing their muscles over a pay dispute. The state-owned Kuwait Oil Company took to Twitter to report the damage done by the workers strike, announcing that oil production fell to 1.1 million barrels per day on Sunday, a catastrophic development considering it normally produces nearly 3 mb/d. Also, Kuwait Petroleum Corp., the state-owned refining company, said that its production of refined products dropped from 930,000 to 520,000...
  • Saudi Arabia turns oil weapon on Iran: Kemp

    04/18/2016 7:27:28 AM PDT · by TigerLikesRooster · 13 replies
    Daily Mail ^ | April 18, 2016 | John Kemp
    Saudi Arabia turns oil weapon on Iran: Kemp By Reuters Published: 13:22 GMT, 18 April 2016 | Updated: 13:22 GMT, 18 April 2016 By John Kemp LONDON, April 18 (Reuters) - Saudi Arabia's decision to scupper negotiations on a coordinated oil output freeze in Doha on Sunday seems to confirm a significant shift in the kingdom's oil policy. For decades, the kingdom has insisted it does not wield oil as a diplomatic weapon, but at the weekend it did just that as part of an intensifying conflict with Iran. ("Saudi-Iran tensions scupper deal to freeze oil output", Reuters, April 17)...
  • Botched Doha deal undermines OPEC credibility, oil prices tumble

    04/18/2016 6:27:34 AM PDT · by Hojczyk · 18 replies
    Yahoo News ^ | April 18, 2016 | By Henning Gloystein
    Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major government-controlled producers will increase their battle for market share by offering ever-steeper discounts. "OPEC's credibility to coordinate output is now very low," said Peter Lee of BMI Research, a unit of rating agency Fitch. "This isn't just about oil for the Saudis. It's as much about...
  • Sanders Admits His Climate Change Remedy Will Bring 'Economic Dislocation,' Job Losses

    04/15/2016 8:54:05 AM PDT · by Olog-hai · 36 replies
    Cybercast News Service ^ | April 15, 2016 | 10:19 AM EDT | Susan Jones
    Climate change is a “global crisis,” and addressing it will bring “economic dislocation,” including job losses, Sen. Bernie Sanders said at Thursday’s CNN-hosted Democrat debate in Brooklyn. “Pope Francis reminded us that we are on a suicide course,” Sanders said. “Our legislation understands, …that there will be economic dislocation. It is absolutely true. There will be some people who lose their job. And we build into our legislation an enormous amount of money to protect those workers. It is not their fault that fossil fuels are destroying our climate. But we have got to stand up and say right now,...
  • Bernie Sanders wants to kill fracking boom

    04/13/2016 9:39:21 PM PDT · by 2ndDivisionVet · 63 replies
    CNN Money ^ | April 13, 2016 | Matt Egan
    If Bernie Sanders becomes president, America's fracking boom will be in danger. This week the Democratic presidential candidate called for a national ban on fracking, the controversial drilling technology that has not only led to a massive boom in oil and natural gas, created thousands of new jobs but also been linked to water contamination and even earthquakes. "If we are serious about combating climate change, we need to put an end to fracking, not only in New York and Vermont, but all over this country," Sanders said during a speech in Binghamton, New York this week. The anti-fracking crusade...
  • Bernie Sanders' Energy Policy: Import A Lot More Oil

    04/16/2016 7:38:10 AM PDT · by JimSEA · 7 replies
    Forbes ^ | 4/15/2016 | Robert Rapier
    It’s easy to be against a policy when you don’t understand how that policy actually impacts your life. I believe that this is the case with one of Bernie Sanders’ proposals. Sanders has said multiple times that he would ban the process of hydraulic fracturing, but to my knowledge he has never addressed what the impact of such a ban might be. So let’s investigate. The technique of hydraulic fracturing, or “fracking” had been around since the late 1940s and has been used extensively to promote higher production rates from oil and gas wells. Fracking involves pumping water, chemicals and...
  • Toxic oil loans create trouble for big banks

    04/14/2016 9:45:02 AM PDT · by PAR35 · 7 replies
    CNN ^ | April 14, 2016: 11:55 AM ET | Matt Egan
    ... Bank of America (BAC) on Thursday announced it set aside $997 million to protect from loan losses, mainly in the bank's $22 billion energy portfolio. Wells Fargo (WFC) warned of "significant stress" and "deterioration" in the oil and gas space. The problems there forced Wells Fargo to add $200 million in loan-loss reserves, its first increase to this rainy-day fund since 2009. And JPMorgan Chase increased its provisions for credit losses by 88%, mostly due to the oil, natural gas and pipeline business. It was enough to cause JPMorgan's (JPM) first drop in profits since late 2014. ...
  • Cheap Natural Gas To Spark Another Wave Of Coal Plant Retirements

    04/12/2016 2:15:00 PM PDT · by bananaman22 · 15 replies
    Oilprice.com | 12-04-2016 | Nick
    “Cheap natural gas is killing coal.” While that headline has been written dozens of times over the last few years, it continues to be true. In fact, natural gas has become even cheaper over the past year, and the slow death of coal is poised to accelerate. In a new report from Moody’s, and reported on by SNL, the ratings agency predicts that cheap natural gas could lead to another massive wave of coal-fired power plant closures over the next year and a half.
  • Russia Drops Out of EU'S Top Three Trading Partners

    04/04/2016 1:11:02 PM PDT · by Berlin_Freeper · 16 replies
    themoscowtimes.com ^ | Apr. 01 2016 | The Moscow Times
    Russia's share in trade with the European Union dramatically reduced last year, pushing the country out of the top three main trading partners of the EU, the European statistics agency Eurostat reported Friday.
  • Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years

    04/02/2016 4:22:32 PM PDT · by Hojczyk · 148 replies
    The Washington Post ^ | April 02, 2016 | Bob Woodward and Robert Costa
    Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts. The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets. Over the course of the discussion, the candidate made clear that he would govern in the same nontraditional way that he has campaigned,...
  • Donald Trump's Unusual Plan to Lower the National Debt: Sell Off 19 Trillion In Government Assets

    04/03/2016 2:28:33 PM PDT · by drewh · 524 replies
    NBC News ^ | 4 hours ago | by ANNE THOMPSON and CHRISTINA COLEBURN
    As president, Donald Trump would sell off $16 trillion worth of U.S. government assets in order to fulfill his pledge to eliminate the national debt in eight years, senior adviser with the campaign Barry Bennett said. "The United States government owns more real estate than anybody else, more land than anybody else, more energy than anybody else," Bennett told Chris Jansing Sunday on MSNBC. "We can get rid of government buildings we're not using, we can extract the energy from government lands, we can do all kinds of things to extract value from the assets that we hold." In a...
  • In a revealing interview, Trump predicts a ‘massive recession’ .......

    04/02/2016 6:51:22 PM PDT · by yoe · 51 replies
    The Washington Post ^ | April 2, 2016 | Bob Woodward and Robert Costa
    Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts. The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets.
  • The bizarre optimism in Donald Trump’s theory of the economy

    04/02/2016 11:24:31 PM PDT · by Innovative · 15 replies
    Washington Post ^ | Apr 2, 2016 | Jim Tankersley
    "I think we’re sitting on an economic bubble. A financial bubble... We’re not at 5 percent unemployment. We’re at a number that’s probably into the 20s if you look at the real number. That was a number that was devised, statistically devised to make politicians – and in particular presidents – look good. And I wouldn’t be getting the kind of massive crowds that I’m getting if the number was a real number." "I’m talking about a bubble where you go into a very massive recession. Hopefully not worse than that, but a very massive recession. Look, we have money...
  • Trump’s Nonsensical Claim He Can Eliminate $19 Trillion In Debt In Eight Years

    04/03/2016 11:22:01 AM PDT · by Steelfish · 196 replies
    Washington Post ^ | April 02, 2016 | Glenn Kessler
    Fact Checker Trump’s Nonsensical Claim He Can Eliminate $19 Trillion In Debt In Eight Years Donald Trump, in an interview with Bob Woodward and Robert Costa In a revealing interview, Trump predicts a ‘massive recession’ but intends to eliminate the national debt in 8 years By Glenn Kessler April 2 The Washington Post's Bob Woodward and Robert Costa sat down with Republican presidential candidate Donald Trump. Here's how the interview went. Donald Trump: “We’ve got to get rid of the $19 trillion in debt.” Bob Woodward: “How long would that take?” Trump: “I think I could do it fairly quickly,...
  • Cheap oil 'too much of a good thing' for US economy: Goldman

    04/03/2016 2:35:44 PM PDT · by Lorianne · 26 replies
    CNBC ^ | 02 April 2016 | Javier E. David
    The U.S.'s embarrassment of oil riches may not have been that beneficial after all. Those are the findings of a recent Goldman Sachs report, in which the bank explained that the net effects of cheaper crude on growth have been "negative so far," given the impact on oil producers who are now finding it hard to churn out more black gold while maintaining needed levels of capital expenditures. Although Goldman acknowledged a lift to consumer spending, the summary constituted an admission that the virtues of the boom that sent U.S. oil production skyrocketing, leaving world markets awash in inexpensive crude,...
  • As U.S. shale drillers suffer, even the bankrupt keep pumping oil

    04/03/2016 2:44:18 PM PDT · by Lorianne · 8 replies
    Reuters ^ | 01 April 2016 | Swetha Gopinath, Joshua Schneyer
    As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers would first have to falter to allow markets to rebalance. With U.S. oil prices now trading below $40 a barrel, the corporate casualties are already mounting. More than 50 North American oil and gas producers have entered bankruptcy since early 2015, according to a Reuters review of regulatory filings and other data. While those firms account for only about 1 percent of U.S. output, based on the analysis, that count is expected to rise. Consultant...
  • Sanders campaign: Clinton owes us an apology for 'lying' remark

    04/01/2016 7:25:58 AM PDT · by McGruff · 13 replies
    POLITICO ^ | April 1, 2015 | NOLAN D. MCCASKILL
    Hillary Clinton owes Bernie Sanders’ campaign an apology, the campaign said Friday. Clinton on Thursday accused Sanders’ camp of “lying,” alleging that his campaign has been claiming Clinton accepts money from the fossil fuel industry — a statement she forcefully rejected when confronted by an environmental activist. “I think she probably owes the senator an apology for that because the senator is not lying about her record,” Sanders campaign manager Jeff Weaver told MSNBC. “He’s talking about her record. He’s talking about her practices. She obviously doesn’t like it, but that doesn’t make it lying because you don’t like it.”...
  • Israel’s Game Changing Gas Discovery Dealt Another Blow

    03/28/2016 2:48:14 PM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 28-03-2016
    The massive Leviathan gas field was discovered in Israel’s offshore Levant Basin over six years ago, and while it theoretically puts Israel on the global energy map for the first time and could change the geopolitical dynamics of the entire Middle East, the Israelis themselves seem to be doing everything in their power to keep it from coming online. Its owners—U.S.-based Noble Energy and Israeli partner Delek Group—along with their shareholders are probably wondering if gas is ever going to come out of this giant of giants. At stake is a massive gas field worth $5-$6 billion and believed to...
  • Israel supreme court strikes down landmark gas deal (Bibi "mystified")

    03/27/2016 11:23:09 AM PDT · by E. Pluribus Unum · 9 replies
    Yahoo ^ | March 27, 2016 | AFP
    Jerusalem (AFP) - Israel's top court on Sunday struck down a landmark deal regulating exploitation of Mediterranean gas reserves, in a major defeat for Prime Minister Benjamin Netanyahu who called the ruling "mystifying". A panel of Supreme Court justices said in their ruling that a clause in the plan that prevented it from being changed for a decade was unacceptable. "We have decided to cancel the gas deal because of the stability clause" that would have barred future governments from altering the deal, they said. The court however suspended the ruling for a year to enable the parliament to amend...
  • Trump Would Consider Halting U.S. Oil Purchases From Saudis: NYT

    03/26/2016 4:36:39 PM PDT · by Hojczyk · 177 replies
    OANN ^ | March 26, 2016
    Republican presidential front-runner Donald Trump told the New York Times he would consider stopping U.S. oil purchases from Saudi Arabia unless the Saudi government provide troops to fight Islamic State. Trump’s comment on Friday was included in a lengthy foreign policy interview published by the newspaper on Saturday and came in response to a question about whether, if elected president, he would halt oil purchases from U.S. allies unless they provided on-the-ground forces against Islamic State. “The answer is, probably yes,” Trump said, according to a transcript. Trump has said the United States should be reimbursed by the countries it...
  • The Solar Industry Is Dying. Good Riddance.

    03/20/2016 5:20:30 PM PDT · by upchuck · 38 replies
    Breitbart ^ | March 20, 2016 | James Delingpole
    If you still own shares in solar energy it’s probably a sign that you’ve been in the sun too long: the sector is tanking – and deservedly so – as reality dawns that this is a Potemkin industry, an Enron of a con-trick, whose survival depends not on the energy it generates but on the subsidies it squeezes from the taxpayer. Consider Exhibit A: the Ivanpah Solar Electric Generating System in the California desert. This $2.2 billion project, heavily backed with federal grants by the Obama administration, is absolutely brilliant at killing birds. According to some estimates it accounts for...
  • Foreign governments are dumping US debt at a record rate

    03/20/2016 11:09:19 AM PDT · by pilgrim · 49 replies
    businessinsider ^ | March 20, 2016 | Ryan McMaken
    For years, the US government has been able to finance it's debt at cheap interest rates because there have always been plenty of enthusiastic buyers. As long as the Chinese, the Japanese, and others continue to hold and buy large amounts.. ....then the US government would have to entice them and others to take on the debt by promising to pay a higher interest rate on it. In turn, this would require more spending on debt service by Congress. If this should ever happen, it would require significant cuts to government programs — or tax increases, or both — in...
  • Crude Mystery: Where Did 800000 Barrels of Oil Go?

    03/19/2016 3:40:13 PM PDT · by Lorianne · 20 replies
    Wall Street Journal ^ | 17 March 2016 | Georgi Kantchev
    There is mystery at the heart of the oversupplied global oil market: missing barrels of crude. Last year, there were 800,000 barrels of oil a day unaccounted for by the International Energy Agency, the energy monitor that puts together data on crude supply and demand. Where these barrels ended up, or if they even existed, is key to an oil market that remains under pressure from the glut in crude. Some analysts say the barrels may be in China. Others believe the barrels were created by flawed accounting and they don’t actually exist. If they don’t exist, then the oversupply...