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Keyword: opec

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  • The Petro-States in Shambles Despite Obama

    10/21/2014 5:16:54 AM PDT · by Kaslin · 24 replies
    Townhall.com ^ | October 21 | John Ransom
    Despite an administration that has no energy policy, free market forces in the United States are finding a way to provide relief from high prices for an economy that greatly needs the respite. Oil prices are heading the right way for consumers even if the wrong way for the wildcatters, explorers and developers of domestic energy. It’s been planned that way.Now that the worldwide economy is slowing, Saudi Arabia is intent on testing American resolve to become energy independent. The oil-rich kingdom has decided on a price war—a method that would be illegal in the United States—to see if American...
  • How will Saudi Arabia Respond to Lower Oil Prices?

    10/21/2014 5:02:59 AM PDT · by thackney · 11 replies
    Wall Street Pit ^ | Oct 19, 2014 | James D. Hamilton
    Oil prices (along with prices of many other commodities) have fallen dramatically since last summer. Some observers are waiting to see if Saudi Arabia responds with significant cutbacks in production. I say, dont hold your breath. When oil demand fell in the 1981-82 recession, the Saudis cut production by 6 million barrels a day in an effort to soften the decline in oil prices. They also cut production in response to lower demand in the 2001 recession and the most recent recession. On the other hand, the kingdom boosted production quickly beginning in August 1990 and January 2003 in anticipation...
  • These 6 Countries Will Be Screwed If Oil Prices Keep Falling

    10/19/2014 6:48:32 PM PDT · by SeekAndFind · 55 replies
    Business Insider ^ | 10/19/2014 | Tomas Hirst
    The collapse in oil prices is already a major cause of concern for countries heavily reliant on exports of the commodity. For some, it could be a matter of avoiding a severe recession. Here's why: For governments in oil-exporting countries to meet their spending commitments they need oil to remain above a certain price. With oil prices under $87 a barrel, countries that rely on high oil prices, including Venezuela, Russia, and Saudi Arabia, may have a reason to be concerned. This chart shows the price per barrel that the six most exposed countries need to meet their national budgets....
  • Lower oil prices are unambiguously good

    10/17/2014 9:03:36 PM PDT · by Abakumov · 41 replies
    Human Events.com ^ | October 18, 2014 | Larry Kudlow
    Steep stock market corrections often create shrouds of pessimism that do bad things to peoples brainpower. And one of the absolutely stupidest things I have heard in recent weeks is that the recent drop in oil prices is bad. You heard me right. Serious people on financial television are saying lower oil prices are a signal of worldwide economic collapse. Here at home that translates to recession, deflation, a profits collapse and rising unemployment. Ive been around for a while, and Ive seldom heard such gibberish. The latest stock market scare stems from a bunch of fears such as...
  • Container Ship Adrift off British Columbia Coast

    10/17/2014 3:08:08 PM PDT · by Oldeconomybuyer · 21 replies
    ABC News ^ | October 17, 2014
    A Russian container ship carrying hundreds of tons of fuel was drifting without power in rough seas off British Columbia's northern coast Friday, a scenario a nearby First Nation community described as its "worst fear." The Canadian Forces' joint rescue coordination center in Victoria said the Russian carrier Simushir lost power late Thursday night off Haida Gwaii, also known as the Queen Charlotte Islands, as it was making its way from Washington state to Russia. Canadian Navy Lt. Paul Penderghast said the ship was drifting nine nautical miles from shore, though he said it was largely maintaining that position. "It...
  • COLUMN-Oil market proves mightier than OPEC: Kemp

    10/17/2014 5:11:41 AM PDT · by thackney · 11 replies
    Reuters ^ | Oct 15, 2014 | John Kemp
    There is nothing remotely surprising about the sharp fall in oil prices over the last four months, except perhaps the timing. The fundamental forces driving prices lower (rising supply outside OPEC from shale and sluggish demand growth as result of conservation and substitution) have been clearly visible for at least two years. "If the shale revolution can be sustained in the United States, and successfully exported to other countries, some combination of OPEC production cuts or lower oil prices to encourage demand and forestall more investment, will be inevitable by 2015-16," I wrote last year ("Saudi Arabia must decide response...
  • Recession in Russia, revolt in Venezuela? The knock-on effects of tumbling oil prices

    10/16/2014 4:04:48 PM PDT · by Lorianne · 14 replies
    Guardian UK ^ | 15 October 2017 | Alberto Nardelli, bunch of other people
    The sudden slump in oil prices, which have fallen 15% in the past three months, has sent tremors through the capitals of the worlds great oil powers, many of whom could face testing budget crunches if the tendency persists. Higher output coupled with weaker demand from China and Europe has driven the price of crude down to $85 its lowest for four years. The US also now produces 65% more oil than it did five years ago following the boom in shale production. The rise has contributed to the global glut of crude and allowed the US to import...
  • Oil price drop threatens to hit Russia, Iran harder than sanctions

    10/14/2014 11:30:02 PM PDT · by Berlin_Freeper · 17 replies
    latimes.com ^ | October 13, 2014 | Paul Richter
    A drop in global oil prices, driven in part by a boom in U.S. shale oil production, is threatening to hit the economies of energy-exporting Russia and Iran harder than Western economic sanctions have done.
  • China, Russia Sign CNY150 Billion Local-Currency Swap As Plunging Oil Prices Sting Putin

    10/13/2014 6:08:02 AM PDT · by Enlightened1 · 6 replies
    Zero Hedge ^ | 10/13/14 | Tyler Durden
    While it is beyond a doubt that the primary catalyst for Europe's triple-dip recession has been the nearly two quarters and counting of escalating Russian sanctions that were supposed to solely harm Putin (because who could have possibly foreseen that plunging German exports to Russia would have a far greater impact on the export-driven German economy), the truth is that the Kremlin itself is starting to hurt, if not so much as a result of the European trade embargo but mostly due to crashing oil prices, which have been driven lower almost exclusively by Saudi Arabia as part of its...
  • To confront US allies China needs 1,200 J-10B fighters: Russian media

    10/12/2014 3:18:15 AM PDT · by sukhoi-30mki · 2 replies
    Want China Times ^ | 2014-10-12
    China will need to produce about 1,200 fourth-generation fighters to be able to confront the air forces of Japan, South Korea and Taiwan, if the three nations are successful in their bids to acquire advanced American fighters, in any potential conflict, according to the Moscow-based Russian Military Analysis on Oct. 9. Even though Taiwan maintains close economic ties with mainland China, the Russian-language newspaper said that the Taiwanese government under the leadership of Ma Ying-jeou has not given up its intention of purchasing advanced fighters from the United States such as the F-16C/D and even the F-35. Japan and South...
  • god hates mini-hitlers: tanking oil price a catastrophe for the putin regime

    10/15/2014 7:03:07 AM PDT · by Reaganite Republican · 28 replies
    Reaganite Republican ^ | 15 October 2014 | Reaganite Republican
    With oil barely holding on to the $80s, the Kremlin's current leadership faces the same problem they did in the (19)80s: budget revenue half-derived from oil exports, and their backwards, inefficient economy still doesn't produce anything that anybody outside of Mother Russia is willing to spend money on- except perhaps mediocre vodka... And when the self-deluded Russians start babbling about 'greatness' while bullying poor, semi-defenseless countries on the borders of their shabby empire, they tend to get a little caught-up in things... and put the pedal-to-the-medal until they are defeated -i.e. Afghanistan- or simply go-broke, i.e. 1991. Yes, compared...
  • Russias economy is tanking. But will it make Putin change course?

    10/13/2014 2:09:40 AM PDT · by elhombrelibre · 21 replies
    Washington Post ^ | 13 Oct 14 | Unknown
    MOSCOW Deep into the worst conflict between Russia and the West since the Cold War, investors are fleeing, food prices are soaring and there are rumbles from Russias Westernized business elite that the nation needs to avoid repeating the economic mismanagement that broke apart the Soviet Union. Western sanctions have choked off financing to some of Russias economic juggernauts and denied crucial technology to the nations energy sector. But there is little evidence that the mounting economic pressures since the March annexation of Ukraines Crimean Peninsula will soften Putins policies toward Ukraine and other nations in the former Soviet...
  • New Poll Shows Strong Opposition To Russia's Actions In Every Region Of Ukraine

    10/14/2014 12:04:10 PM PDT · by Greetings_Puny_Humans · 28 replies
    New Poll Shows Strong Opposition To Russia's Actions In Every Region Of Ukraine 18:37 (GMT) There have been several polls which show that prior to Russia's invasion of Ukraine and annexation of Crimea there was never a strong separatist sentiment among Ukrainians in any region. Another poll by IRI confirms this result: An excerpt from the summary: Strong Majority in Every Region Opposes Russias Military Aggression Despite continued claims to the contrary from Moscow and pro-Russian separatists, 89 percent of respondents oppose Russia sending troops to protect Russian-speaking citizens. The opposition to Russias actions is seen across all regions ...
  • Saudi billionaire Alwaleed warns over impact of falling oil price

    10/14/2014 10:54:23 PM PDT · by Enterprise · 41 replies
    ft.com ^ | October 14, 2014 | Simeon Kerr
    In an open letter to Saudi ministers posted via Twitter, Prince Alwaleed bin Talal al-Saud expressed his astonishment at comments made by Ali al-Naimi, the oil minister, who reportedly played down the impact of oil prices falling below $100 a barrel. Prices have since fallen below $88 a barrel, or a quarter since June. Prince Alwaleed, noting the kingdoms 2014 budget was 90 per cent dependent on oil revenues, said belittling the impact of lower prices was a catastrophe that cannot go unmentioned.
  • Kemp: The Saudi Oil Enigma

    10/14/2014 5:22:07 AM PDT · by thackney · 9 replies
    Reuters via Rig Zone ^ | October 14, 2014 | John Kemp
    ...In almost 20 years of writing about oil markets and the Middle East I have not come across anyone who could consistently offer a deep insight into the government's policymaking.... Diplomats and even some economists often assert Saudi Arabia upholds its part of the bargain, in part, by holding spare production capacity with which to meet disruptions in oil supplies from other producers. Only Saudi Arabia has the financial capability and the foresight to invest in spare capacity to help stabilise global oil prices. The problem is that there is almost no evidence to support this claim. Since the kingdom's...
  • Facing Glut, Price of Oil Falls Sharply

    10/13/2014 5:41:15 PM PDT · by Oliviaforever · 43 replies
    NYT ^ | 10/13/14 | By CLIFFORD KRAUSS
    Oil prices sank again on Monday, giving consumers more of a break and causing a split among OPEC leaders about what action should be taken, if any, to halt the slide. The price drop has led to a near free fall in gasoline prices in the United States. On Monday, the national average price for regular gasoline was $3.20, 9 cents lower than it was a week ago and 14 cents below the price a year ago, according to the AAA motor club.
  • Green demonstrators accidentally prove why they should never be trusted with energy policy

    10/11/2014 1:39:32 PM PDT · by afraidfortherepublic · 27 replies
    The American Thinker ^ | 10-11-14 | Thomas Lifson
    Renewable energy is unreliable, and can never replace secure base load sources like coal, natural gas, and hydro. And now a bunch of greenies have embarrassed themselves and proved the point. Attempting to show how wonderful solar power is, a band of self-righteous greenie demonstrators in Madison, WI, the Berkeley of the Midwest, instead demonstrated that reliance on renewables means brownouts and blackouts. Protesting a proposed rate increase by the local utility, Madison Gas & Electric, they made utter fools of themselves, and showed by reliable power from hydrocarbons is the only way to have secure energy supplies. The MacIver...
  • Venezuela Ordered To Pay Exxon $1.6B For Nationalization

    10/10/2014 5:18:06 AM PDT · by thackney · 13 replies
    Reuters via Rig Zone ^ | October 09, 2014 | Corina Pons & Alexandra Ulmer
    A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp around $1.6 billion to compensate for the 2007 nationalization of its oil projects in the country. The amount is far below the up to $10 billion that Exxon had originally sought and the $6 billion at which the World Bank's International Centre for Settlement of Investment Disputes (ICSID) capped the case, excluding a tax claim. "The Tribunal has found that the expropriation was conducted in accordance with due process, that it was not carried out contrary to undertakings given to the claimants in this respect and...
  • Price Fall Hastens Decline Of 'Big Oil' As Western Majors Retreat

    10/10/2014 5:29:11 AM PDT · by thackney · 22 replies
    Reuters via Rig Zone ^ | October 09, 2014 | Ron Bousso & Dmitry Zhdannikov
    This year's fall in energy prices is hastening the decline of big oil, as the seven Western majors sell-off assets, cut investment, return money to shareholders and shrink in size, leaving ever more output to small producers and state firms. Companies that were already deep in the red when the price of Brent was at $109 a barrel last year are having to redraw business plans for prices as low as $90. With promised shareholder dividends probably untouchable for now, they will have to divest, cut costs and borrow more against a smaller business just to make ends meet. And...
  • Lost Electricity Generation Capacity 7X Higher Than EPA Estimates

    10/10/2014 9:19:31 AM PDT · by jazusamo · 48 replies
    CNSNews ^ | October 9, 2014 | Barbara Hollingsworth
    (CNSNews.com) Power plants generating 72 gigawatts (GW) of electricity in 37 states have either closed or are scheduled to shut their doors to comply with Environmental Protection Agency (EPA) regulations, according to the Institute for Energy Research (IER). The loss of generating capacity is over seven times the amount originally predicted by EPA modeling, IERs updated report, released October 7, noted. Originally, EPA calculated that only 9.5 GW of electrical generating capacity would close as a result of its MATS (Mercury and Air Toxics Standard) and CSAPR (Cross State Air Pollution Rule) rules, the report stated. Before President Obamas...
  • UW fusion reactor concept could be cheaper than coal

    10/10/2014 12:23:24 PM PDT · by Red Badger · 72 replies
    Phys.Org ^ | 10/10/2014 | by Michelle Ma & Provided by University of Washington
    Fusion energy almost sounds too good to be true zero greenhouse gas emissions, no long-lived radioactive waste, a nearly unlimited fuel supply. Perhaps the biggest roadblock to adopting fusion energy is that the economics haven't penciled out. Fusion power designs aren't cheap enough to outperform systems that use fossil fuels such as coal and natural gas. University of Washington engineers hope to change that. They have designed a concept for a fusion reactor that, when scaled up to the size of a large electrical power plant, would rival costs for a new coal-fired plant with similar electrical output. The...
  • An Industrial-Size Generator That Runs on Waste Heat, Using No Fuel

    10/10/2014 12:47:46 PM PDT · by Red Badger · 22 replies
    MIT Technology Review ^ | October 9, 2014 | By Kevin Bullis
    Startup Alphabet Energy has its first product: what it says is the worlds largest thermoelectric generator. Power plants waste huge amounts of energy as heatabout 40 to 80 percent of the total in the fuel they burn. A new device could reduce that waste, cutting fuel consumption and carbon emissions by as much as 3 percent and saving companies millions of dollars. (Three percent might not seem like much, but for context, air travel accounts for 2 percent of worldwide carbon dioxide emissions.) The generator makes use of a novel, highly efficient thermoelectric material discovered recently at the University of...
  • While you were watching ISIS, Iran took Yemen

    10/08/2014 2:27:17 PM PDT · by Citizen Zed · 19 replies
    Legal Insurrection ^ | 10-8-2014 | David Gerstman
    The Houthis, Iranian backed rebels have taken control of Yemens capital, Sanaa. The comparison to Hezbollah is apt as Reuters is reporting that the Houthi are blocking the appointment of Yemens president. So whats Irans interest in Yemen? It was spelled out by Michael Segall of the Jerusalem Center for Public Affairs two and a half years ago. A couple of Segalls observations are sobering: "Iran regards Yemen in general, and its Shia northern part in particular, as a springboard for subversion and for creating a tangible threat to Saudi Arabia, its main religious-political rival in the region. Iran also...
  • Iran Slashes Oil Prices to Asia Following Saudi Cut, Lowest Level Since December 2008

    10/10/2014 5:58:40 AM PDT · by thackney · 21 replies
    Wall Street Journal ^ | Oct. 10, 2014 | BENOT FAUCON
    Iran has reduced its oil prices to Asia to its lowest level since December 2008, hard on the heels of a similar Saudi cut last week, people familiar with the pricing said Friday... The National Iranian Oil Co. has cut its light crude oil price for Asian deliveries in November to a discount of 82 cents a barrel below the Oman/Dubai benchmark, the people said. The cut, which compares to a premium of 18 cents in October, is identical to a Saudi reduction of $1 a barrel last week for the Arab Light grade to Asia....
  • MIT Thinks It Has Discovered the 'Perfect' Solar Cell

    10/02/2014 10:44:11 PM PDT · by Utilizer · 20 replies
    MOTHERBOARD ^ | October 1, 2014 // 05:25 PM EST | Michael Byrne
    A new MIT study offers a way out of one of solar power's most vexing problems: the matter of efficiency, and the bare fact that much of the available sunlight in solar power schemes is wasted. The researchers appear to have found the key to perfect solar energy conversion efficiencyor at least something approaching it. It's a new material that can accept light from an very large number of angles and can withstand the very high temperatures needed for a maximally efficient scheme. Conventional solar cells, the silicon-based sheets used in most consumer-level applications, are far from perfect. Light from...
  • Rossi LENR device (E-Cat) validated by 3rd Party Panel

    10/08/2014 7:05:26 PM PDT · by theBuckwheat · 23 replies
    E-Cat World ^ | October 8, 2014 | N/A
    ABSTRACT New results are presented from an extended experimental investigation of anomalous heat production in a special type of reactor tube operating at high temperatures. The reactor, named E-Cat, is charged with a small amount of hydrogen-loaded nickel powder plus some additives, mainly Lithium. The reaction is primarily initiated by heat from resistor coils around the reactor tube. Measurements of the radiated power from the reactor were performed with high- resolution thermal imaging cameras. The measurements of electrical power input were performed with a large bandwidth three-phase power analyzer. Data were collected during 32 days of running in March 2014....
  • EIA Sees Lower OPEC Output, Weaker Demand Growth In 2015

    10/07/2014 11:41:59 AM PDT · by thackney · 1 replies
    Reuters via Rig Zone ^ | October 07, 2014 | Jessica Resnick-Ault; Editing by Chizu Nomiyama and W Simon
    The U.S. Energy Information Administration trimmed its forecast of world oil demand growth next year and made even deeper cuts in its outlook for OPEC production, the latest signs of a shift toward surplus supplies next year. The EIA cut its 2014 global demand forecast to 91.47 million barrels a day, compared with 91.55 million bpd expected last month, according to a monthly report from the agency on Tuesday. As a result, it now expects consumption to rise by 1.24 million bpd, down 100,000 bpd from the previous month's report but still higher than the 1 mln bpd increase estimated...
  • How Low Can Oil Go? {Crude oil suffered a major technical breakdown in August...}

    10/07/2014 5:38:37 AM PDT · by thackney · 33 replies
    Barrons ^ | October 6, 2014 | MICHAEL KAHN
    In March, Barrons Gene Epstein wrote a cover story arguing that crude oil prices were heading for a 25% decline, to $75 per barrel over the next few years (see Barrons, Here Comes $75 Oil, March 29). It was a bumpy road to start, but it does look as if that prediction is going to be coming true perhaps as soon as next year. Light, sweet crude, recently near $90 a barrel, suffered a major technical breakdown in August. The next level of major support is in the $75-$79 area on the charts. Lets start with a long-term chart to...
  • OPEC Members Discord Adds to Slide in Oil Prices

    10/06/2014 11:56:35 AM PDT · by thackney · 9 replies
    Wall Street Journal ^ | Oct. 5, 2014 | BENOT FAUCON and SUMMER SAID
    Discord at OPEC is turning into a price war, loosening the cartels grip on the oil market and exacerbating a recent steep selloff. Fissures have widened as Mideast turmoil frays political alliances and producers vie for customers amid a flood of oil from the U.S. and slowing growth in Asia. No one is telling anyone what they are up to, one Gulf oil official said. Saudi Arabia this week unilaterally lowered the price it charges for crude scheduled for delivery next monthwithout the typical consultation with other members of the Organization of the Petroleum Exporting Countries, according to OPEC officials....
  • John Kerry: Threat From Climate Change is Just Like ISIS

    09/22/2014 11:28:50 AM PDT · by Kaslin · 75 replies
    Townhall.com ^ | September 22, 2014 | Katie Pavlich
    Secretary of State John Kerry, the world's top diplomat, is warning that global warming climate change poses as much of a threat to the world as ISIS. More from The Hill: Secretary of State John Kerry said the threats posed by climate change should be addressed with as much "immediacy" as confronting the Islamic State in Iraq and Syria (ISIS), and the Ebola outbreak. During a meeting with foreign ministers on Sunday, Kerry said global warming is creating "climate refugees." "We see people fighting over water in some places. There are huge challenges to food security and challenges to the...
  • Kerry Makes Case for Global Warming as Mankind's Greatest Threat

    08/15/2014 8:11:52 PM PDT · by John Semmens · 38 replies
    Semi-News/Semi-Satire ^ | 15 Aug 2014 | John Semmens
    US Secretary of State John Kerry continues to baffle observers by insisting that "global warming is, by far, the greatest threat mankind faces in the 21st century." "The reason should be obvious from the term 'global' warming," Kerry said. "This means that it affects everyone. This has to put it ahead of dangers that afflict necessarily narrower categories of victims. The beheading of innocent children by ISIS in Iraq, for example, only affects thousands of people." "The threat to wipe Israel off the map and exterminate the Jews, at worst, would entail the deaths of only a few million," Kerry...
  • Secretary of State John Kerry Explains the Greenhouse Effect

    09/24/2014 6:00:32 PM PDT · by norwaypinesavage · 13 replies
    Global Warming.org ^ | Sept 16, 2014 | Myron Ebell
    SOS Kerry :This is simple. Kids at the earliest age can understand this. Try and picture a very thin layer of gases a quarter-inch, half an inch, somewhere in that vicinity thats how thick it is. Its in our atmosphere. Its way up there at the edge of the atmosphere. And for millions of years literally millions of years we know that layer has acted like a thermal blanket for the planet trapping the suns heat and warming the surface of the Earth to the ideal, life-sustaining temperature. But in modern times, as human beings...
  • Kerry: World is 'On Track To Warm At Least 4 Degrees' in 20-40 Years

    09/24/2014 3:32:03 AM PDT · by Lonesome in Massachussets · 42 replies
    The Weekly Standard ^ | September 23, 2014 | Jeryl Bier
    "Mother Nature ... is screaming at us about" climate change, U.S. Secretary of State John Kerry told the crowd at the opening event of Climate Week NYC 2014. While Kerry used a more measured tone than that which he attributed to Mother Nature, the apocalyptic nature of his warnings were in keeping with her purported sentiment. Using projections that appear hyperbolic, even compared to the worst case scenarios presented in the latest United Nations International Panel on Climate Change (IPCC) report, Kerry said that "were on track to warm at at least 4 degrees over the course of the next...
  • What's with Kerry and Climate Change?

    09/23/2014 3:18:07 AM PDT · by markomalley · 11 replies
    American Thinker ^ | 9/23/2014 | Doris O'Brien
    Its not enough that John Kerry's diplomatic plate is overcrowded with unpalatable menaces like ISIS/ISIL and an epidemic of Ebola that could mushroom to pandemic proportions. As busy as Kerry is, flying around the globe and assembling a coalition of supporters to push back against a terrorist group more vicious and well-funded than any in recent history, he still manages to get his licks in about global warming. In a recent speech before an assemblage of foreign ministers, he urged that the threat of climate change must be addressed with the same immediacy as terrorism and Ebola. The same immediacy?...
  • John Kerry: Scripture Commands USA to Protect Muslim Countries Against Global Warming

    09/05/2014 7:45:53 AM PDT · by Sean_Anthony · 23 replies
    Canada Free Press ^ | 09/05/14 | Dave Huntwork
    God of Progressives and liberals is the almighty state, not the God of the Bible. Big government is not God, and Barack is not his prophet God of Progressives and liberals is the almighty state, not the God of the Bible. Big government is not God, and Barack is not his prophet Last Wednesday, at a ceremony to appoint Texas lawyer Shaarik Zafar to be special representative to Muslim communities, Secretary of State John Kerry said it was the United States Biblical responsibility to confront climate change, including to protect vulnerable Muslim majority counties. Kerry said Scripture, in particular the...
  • Kerry: Confronting Climate Change a Responsibility Laid Down in Scriptures

    09/03/2014 6:58:48 PM PDT · by Nachum · 54 replies
    cns news ^ | 9/3/14 | Brittany M. Hughes
    (CNSNews.com) - At a ceremony Wednesday honoring Shaarik Zafar, who was just appointed to serve as the State Department's Special Representative to Muslim Communities, Secretary of State John Kerry said confronting climate change is a duty or responsibility laid down in scriptures. Confronting climate change is, in the long run, one of the greatest challenges that we face, and you can see this duty or responsibility laid down in scriptures, clearly, beginning in Genesis, Kerry claimed. While promoting the need to unite religious communities in order to achieve global peace, Kerry pointed to other factors, including climate change, that he...
  • Kerry: Scripture Says U.S. Should Protect Muslim Countries Against Global Warming

    09/03/2014 6:37:31 PM PDT · by markomalley · 51 replies
    Secretary of State John Kerry said it was the United States biblical duty to confront climate change at home and abroad in Muslim-majority nations during a speech Wednesday.Our faiths are inextricably linked on any number of things that we must confront and deal with in policy concepts today. Our faiths are inextricably linked on the environment. For many of us, respect for Gods creation also translates into a duty to protect and sustain his first creation, Earth, the planet, Kerry said.Confronting climate change is, in the long run, one of the greatest challenges that we face, and you can see...
  • Kerry: Scripture commands USA to protect Muslim countries against global warming

    09/03/2014 1:07:03 PM PDT · by Biggirl · 32 replies
    Jihadwatch.org ^ | September 3, 2014 | Robert Spencer
    Remember a few years back when some company was found to have put Biblical quotes on gunstocks it sold to the U.S. military even just a few months ago the Islamic supremacist apologist Mubin Shaikh used that in a debate with me on Michael Medveds radio show to claim that the misadventure in Iraq was a Crusade. Will Leftists and Islamic supremacists start charging that Kerrys campaign against global warming is likewise a Crusade?
  • A World In Chaos, And Kerry's Talking Climate Change

    08/14/2014 4:05:54 PM PDT · by jazusamo · 31 replies
    Investors.com ^ | August 14, 2014 | IBD Editorial
    Diplomacy: Great leadership isn't necessarily about intelligence, expertise or background. It's more about wisdom and judgment. Based on this, Americans should be very concerned about Secretary of State John Kerry. As the world melts into chaos and threats to the U.S. homeland multiply, America's top foreign policy official seems bizarrely, even dangerously, fixated on ... global warming. In remarks at the East-West Center in Honolulu on Wednesday, Kerry repeated his claim that climate change is "the biggest challenge ... we face right now." To which we respond: Can he be serious? In recent days, we've seen the establishment of a...
  • Kerry: Climate Change is The Biggest Challenge of All That We Face Right Now

    08/14/2014 7:53:39 AM PDT · by rktman · 60 replies
    cnsnews.com ^ | 8/14/2014 | Patrick Goodenough
    The global impact of climate change is the biggest challenge of all that we face right now, Secretary of State John Kerry told an audience in Hawaii Wednesday, putting an issue he feels passionately about at the center of a speech entitled U.S. Vision for Asia-Pacific Engagement. The science is screaming at us, he said. Ask any kid in school. They understand what a greenhouse is, how it works, why we call it the greenhouse effect. They get it.
  • Kerry visits Solomon Islands, sees WWII memorials (and talks climate change)

    08/12/2014 9:55:11 PM PDT · by Olog-hai · 14 replies
    Associated Press ^ | Aug 13, 12:39 AM EDT | Matthew Lee
    U.S. Secretary of State John Kerry paid a visit Wednesday to the Solomon Islands in the South Pacific, where he met the tiny nations leaders and commemorated the ferocious World War II battles fought on Guadalcanal. Kerry met with Solomons Prime Minister Gordon Lilo and Governor General Frank Kabui to discuss sustainable development, ocean preservation and how the islands 600,000 residents are coping with the effects of climate change.
  • Missing The Mark: The Criticism Of NPR's Climate March Coverage

    10/04/2014 3:01:58 PM PDT · by Drango · 6 replies
    NPR ^ | 3/10/14 | Edward Schumacher-Matos
    ~snip Driving the email barrage was an open letter to me in the liberal Daily Kos by one of its bloggers, Assaf Oron. He wrote that, "I have long suspected - with good evidence - that NPR news does little more than shill for the same interest that dominate our politics and mainstream media, albeit with a high-brow veneer. I think the final proof has arrived today." ~snip
  • How G. Schroeder, Moron EU Bureaucrats Ignored GWB + Hooked Themselves to the Russian Energy Teat

    10/04/2014 9:23:50 AM PDT · by Reaganite Republican · 9 replies
    With the predictable consequences... The EU's dependency on Russian gas is a direct result of the EU's own catastrophic energy policies in the past. It seems that Europe, having made itself almost totally dependent on Russian gas and oil during the past decade, now wants the US to come and save it from self-inflicted disaster. The Ukrainians by now should have come to realize that with friends like the EU.The fallout is everywhere, from a maimed Ukraine with hundreds of dead, to the West entangled in a trade war with Russia, with sanctions going back and forth. While the West...
  • Must-know: Tighter-than-expected oil supply in the future

    08/21/2014 4:09:40 PM PDT · by ckilmer · 24 replies
    marketrealist ^ | Aug 21, 2014 10:08 am EDT | Russ Koesterich, CFA
    Must-know: Tighter-than-expected oil supply in the future By Russ Koesterich, CFA - Disclosure • BlackRock  • Aug 21, 2014 10:08 am EDT First, here’s a quick look at my expectations for oil supply and demand. Currently, oil prices remain elevated because global demand has continued to climb, despite slower growth in China (FXI), and supply overall has been unexpectedly constrained by both geology and geopolitical unrest. Looking forward, oil supply is likely to remain constrained and oil demand is likely to continue to grow.Oil supply: There’s a good chance that future oil supply may be tighter than expected. Currently, oil prices...
  • ISIS' thirst for oil could lead to 'global catastrophe' if unchecked, experts say

    08/21/2014 6:53:42 PM PDT · by 2ndDivisionVet · 21 replies
    Fox News ^ | August 21, 2014 | Joshua Rhett Miller
    Islamic State's thirst for blood has the world on edge, but its equally insatiable yearning for oil could prove a "catastrophe" for the global economy if the terror organization isn't stopped, experts say. The jihadist group, formerly known as ISIS, now controls seven oil fields and two small refineries in northern Iraq, bringing in as much as $2 million per day by selling up to 40,000 barrels via middlemen in illicit deals. The black market oil sells for roughly $25 to $60 per barrel, compared to the current market rate of $102, according to Luay al-Khatteeb, founder and executive director...
  • Refracking brings 'vintage' oil and gas wells to life

    08/21/2014 9:24:35 AM PDT · by ckilmer · 26 replies
    samachar ^ | Aug 20, 2014,
    Refracking brings 'vintage' oil and gas wells to life Aug 20, 2014, 10.43AM IST (The development highlights…) HOUSTON/WILLISTON, NORTH DAKOTA: A fracking boom isn't enough for U.S. oil and gas producers - they're now starting the re-fracking boom.Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil revolution. Hydraulic fracturing, which has upended global energy markets by lifting U.S. crude oil output to a 25-year high, has been troubled by quick declines in oil and gas output. The development highlights how producers must constantly invest and tinker, both to...
  • Eagle Ford wave lifts Blue Dolphin Energy refinery

    08/21/2014 5:30:24 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | August 21, 2014 | Vicki Vaughan
    The Eagle Ford Shale is boosting the fortunes of Blue Dolphin Energy Co., which took a chance when it bought a rusty, mothballed refinery in the small town of Nixon about seven years ago. Blue Dolphin bought the plant out of bankruptcy before the promise of the Eagle Ford was apparent. The company spent tens of millions refurbishing the plant and restarted it in early 2012. Nixon, which is about 54 miles east of San Antonio, straddles Gonzales and Wilson counties in a booming part of the shale play. The plant buys every drop of its crude oil from drillers...
  • Gulf Coast to benefit from refinery retrofits

    08/21/2014 5:27:02 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | August 21, 2014 | Rhiannon Meyers
    The Texas Gulf Coast will be ground zero for a push to equip refineries to handle a flood of light crude unlocked in the U.S. shale boom, but the investments will be relatively conservative, a petrochemical consultant said Wednesday. Refiners wont spend the big bucks they dropped when they retooled to handle heavy, high-sulfur crude several years ago, largely because its cheaper and simpler to modify a refinery to process lighter crude, said Jim Jones, senior vice president at Dallas-based petrochemical consulting firm Turner, Mason and Company. It wont be a $5 billion investment, it will be a couple million...
  • Texas price gap widens as oil production rises

    08/19/2014 12:55:11 PM PDT · by thackney · 18 replies
    Fuel Fix ^ | August 19, 2014 | Robert Grattan
    The gap between crude oil prices in the major trading centers of Midland, Texas and Cushing, Okla. ballooned to $19 Tuesday morning, the widest point this year and second-highest on record. On Tuesday morning, the price for crude oil hit a low of $77.48 per barrel in Midland. In Cushing, the benchmark pricing point for U.S. crude contracts, the price was $96.48. Worldwide crude prices fell, Bloomberg reported, after Iraqi and Kurdish forces regained control of a key dam in Iraq and slowed the advance of Islamic State militants. Midland prices are further depressed because production growth in West Texas...
  • Oil and gas company debt soars to danger levels to cover shortfall in cash

    08/11/2014 4:08:43 PM PDT · by Lorianne · 19 replies
    Telegraph (UK) ^ | 11 August 2012 | Ambrose Evans-Pritchard
    The worlds leading oil and gas companies are taking on debt and selling assets on an unprecedented scale to cover a shortfall in cash, calling into question the long-term viability of large parts of the industry. The US Energy Information Administration (EIA) said a review of 127 companies across the globe found that they had increased net debt by $106bn in the year to March, in order to cover the surging costs of machinery and exploration, while still paying generous dividends at the same time. They also sold off a net $73bn of assets. This is a major departure from...