Guest Posted March 28, 2004 Report Share Posted March 28, 2004 Company With Ties To VP Cheney's Energy Task Force Faces Criminal Indictment For Gaming Calif. Electricity Market Reliant said in a news release March 8 that it was notified by the US Attorney's office about the pending indictment, which stems from allegations that the company deliberately shut down its power plants in California for a few days in June 2000, creating an artificial shortage and causing wholesale prices to skyrocket. While U.S. lawmakers continue to ask what the Bush administration knew about the 9-11 attacks and when they knew it, the same can be said about the administration's knowledge about the California energy crisis. http://www.altpr.org/modules.php?op=modloa...order=0&thold=0 How many plates (issues) can this administration juggle at one time? A Pluto effect? Link to comment Share on other sites More sharing options...
brian4 Posted March 28, 2004 Report Share Posted March 28, 2004 I agree Sherlock-In an article on MSNBC a poll was taken after Clarkes revelations and the full court press to discredit him. The poll shows Clarke has a high degree of believeability with the Sheeple and as a result Shrubs numbers have dropped hard. The Sheeple though have the attention span of a gnat so this story must have legs to maintain their attention. I note with glee that Condi Rice is going to appear on 60 minutes tomorrow nite to refute Clarke. That is like sending Bambi to a butcher shop will Miss Goody two shoes hold up-I think not! Link to comment Share on other sites More sharing options...
Guest Icky Twerp Posted March 28, 2004 Report Share Posted March 28, 2004 If we wuzgonna sum up the areas where the Administration is in trouble, that list would include: Economy - shanking figures, bad planning, & lies War Against Terror - shanking figures, bad planning & lies War in Iraq - shanking figures, bad planning & lies Energy -shanking figures, bad planning & lies on "less important" issues, too. . . say, education, race relations, Ecology, Health. . . is there anything these cockroaches haven't fouled up? Link to comment Share on other sites More sharing options...
BAREister Posted March 28, 2004 Report Share Posted March 28, 2004 Thanks for that Icky- of course that is why, and how we are where we are.? The red neck crackers complete with pot bellies and bandy legs are running the show can't you just hear the "now you looka here Boy."? Americans had better wake up.. and real fast! Contrare, conTRRRRARE!!! We are much BETTER OFF in a FOG, immersed well beyond the point of cognition in our collective miASS(_)_)(_(_)ma. The boyz over at The Daily (W?)Reckoning and elsewhere have been ASS(_)_)(_(_)iduously pointing out WHAT we will "wake up" TO. It ain't purrrrrteee. A fantASS(_)_)(_(_)y life is MUCH better!!! We are a BLESSED people/land and we WILL live HAPPILY EVER after, we Boomerz, we!!! Our leaders TELL us thus! and, sew, too, does BILLY bASS(_)_)!!! "DON'T worrrreeee. BEE HAPpeee!!!" FEAR SNOT!!! It will all work out, in some vaguely undefined way, bereft of either hardship or sacrifice. Link to comment Share on other sites More sharing options...
zensmoke Posted March 28, 2004 Report Share Posted March 28, 2004 "We're at your service", Hizbollah tells Hamas By Mariam Karouny BEIRUT (Reuters) - Hizbollah leader Sheikh Hassan Nasrallah told Hamas's new leader on Saturday to consider the Lebanese guerrilla group under his command following the assassination of Sheikh Ahmed Yassin this week. In a show of unity between the two Islamist groups, Hamas new chief Khaled Meshaal also addressed thousands of Hizbollah supporters at a memorial service for his predecessor Yassin, whom Israel assassinated this week. Nasrallah told him: "Consider us in Hizbollah, from the secretary-general and leadership down to our fighters and women, members of Hamas, and soldiers under your command." http://www.reuters.com/locales/newsArticle...storyID=4677819 Link to comment Share on other sites More sharing options...
the east is red Posted March 28, 2004 Report Share Posted March 28, 2004 We are much BETTER OFF in a FOG, immersed well beyond the point of cognition in our collective miASS(_)_)(_(_)ma. The boyz over at The Daily (W?)Reckoning and elsewhere have been ASS(_)_)(_(_)iduously pointing out WHAT we will "wake up" TO. It ain't purrrrrteee. Is the gang at the "Daily Reckoning" perchance related to Davidson and Rees-Moog, the blowhard authors of the "Great Reckoning" and fly-by-night operators of the "Oxford Club"? Link to comment Share on other sites More sharing options...
Hypertiger Posted March 28, 2004 Report Share Posted March 28, 2004 IRS? It is a private corporation created in 1913 along with the FED... 2 planks of the communist (Absolute capitalist) manifesto...The establishment of a central bank and the implementation of a graduated income tax... We are living in a contrived fantasy world...It is all smoke and mirrors... The only thing supporting the fantasy we exist in is the debt inflationary self delusional bubble that has been growing for 45 years... It will pop...it is a 100% certainty...Yobob looks like he's chickening out... Unless you are planning on dying real soon you will see what he's taking about in a couple of years at the most... The very fabric of what you understand as reality is hopelessly dependant on the prepetual leveraging of leverage... That is about to end...we are at the end of the line... Link to comment Share on other sites More sharing options...
Hypertiger Posted March 28, 2004 Report Share Posted March 28, 2004 Davidson and Rees-Moog are human waste...pure filth... Link to comment Share on other sites More sharing options...
brian4 Posted March 28, 2004 Report Share Posted March 28, 2004 Bare- I have missed your biting sarcasm with your tongue firmly planted in your cheek but it is getting BEYOND the kidding stage more toward what Hyper refers to as the wild cornered animal stage. Hopefully once again Hard times will make hard people either way I agree with icky the culling has begun. Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2004 Report Share Posted March 28, 2004 This week's call was extremely interesting. Don Coxe talks about how al Qaeda may strike a few more times to isolate the US and defeat Bush. He also talks about gold, silver, the XAU and the China story. Commodities are not going to collapse despite what Wall Street is telling you. Listen: http://www.jonesheward.com/commentary.cfm Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2004 Report Share Posted March 28, 2004 Music break, some of my favorites, enjoy! Or skip over http://b-unique.net/music/memorylane/jukeb...ne%20Pitney.mp3 http://b-unique.net/music/memorylane/jukeb...0Bob%20Lind.wav http://b-unique.net/music/memorylane/jukeb...n%20Sherman.wav http://b-unique.net/music/memorylane/jukeb...20the%20Sky.wav http://b-unique.net/music/memorylane/jukeb...nder%20Cody.wav http://b-unique.net/music/memorylane/jukeb...nder%20Cody.wav[/url] http://www.b-unique.net/memorylanewavs1/7/rebel_rouser.wav http://www.b-unique.net/memorylanewavs1/8/big_bad_john.wav Link to comment Share on other sites More sharing options...
brian4 Posted March 28, 2004 Report Share Posted March 28, 2004 Sleddy-Great stuff now dig up some Sonny James and I'll be happy or Buddy Knox singing Party Doll-You know i have great respect for Don Coxe until he starts pontificating on terrorism or Nam-Don this is not an academic exercise-until you have walked the point Donnie and come home safe how fooking dare you comment on the way we were/are! Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2004 Report Share Posted March 28, 2004 Party Doll- Buddy Knox http://b-unique.net/music/memorylane/jukeb...uddy%20Knox.wav Link to comment Share on other sites More sharing options...
Guest Posted March 28, 2004 Report Share Posted March 28, 2004 Sonny James http://www.angelfire.com/music5/crnr56/Mus...RunningBear.wav http://www.angelfire.com/music5/crnr56/Mus...rsInTheSand.wav http://www.angelfire.com/music5/crnr56/Mus...RamblinRose.wav http://www.angelfire.com/music5/crnr56/Mus...JamesApache.wav All of his songs can be played here http://www.angelfire.com/music5/crnr56/SJames.htm Link to comment Share on other sites More sharing options...
Hiding Bear Posted March 28, 2004 Author Report Share Posted March 28, 2004 Caught a little snippet of the post market show on PBS,name eascapes me, the one with Paul Kangarooass, but I digress. They interviewed a trader in the commod pits. He was all excited about the new bull market. His main source of excitement? All the NEW money flooding into the market. For quite a while I have been saying that most of the "drive" in the commodities markets has been a byproduct of the whirling flood of liquidity combined with hedge funds impacting this relatively small cap market. Read that as wildcat speculation with disregard of fundamentals. I argue that demand overall is realtively flat with perhaps a small true piece of demand coming from China which by and large is more a result of shifting production from other locales meaning that demand elsewhere is simultaneously dropping. I also still contend that there is some strategic stockpiling occurring in China which may portend an ominous future especially considering the "sensitivity" of the Taiwan situation and secondarily North Korea. At a causal glance it bears a marked resemblance to Japan pre WWII. There are within the "commodities arena" a few componenets that do have some seriously powerful fundamentals at work. They are oil, gold, and silver. Gold and silver have been in stuctural deficits for years. Most of the worlds stockpile of silver is gone and the supressed prices have prevented any serious increase in mining activity. Why bother, if it costs more to get it to market than the market will pay? Gold is also being "consumed" at a faster rate than it is being produced. It has only been the disgorging from CBs in the form of direct sales and leasing that has kept a lid on the price. The latest gold sales agreement will do little to alleviate the pressure and at some point the sales become really a stupid act of hari-kari as people begin to question the sanity of selling large chunks of the national treasures into a rising market. Oil, I believe, has peaked production wise on a global basis. It recently has been revealed that the supposed reserves may not be what they are stated. (See Shell) More importantly for the US mtorist is the quality of oil. Oil is not created equally nor is the refining process the same for all grades of crude oil. US refineries are dependent on light sweet crude to produce the products for US consumption. Many of the recent (last 20 years) oil finds are not of this quality tending to be the heavier grades which our refineries can't cope with. Few people are aware of just how much refined product is imported. If you're in New York, there's a pretty good chance the gas in your tank came from a European Refinery; ditto your heating oil. If you live in Chicago or Arkansas, some of your gas comes from refineries in South America. There hasn't been any new refineries built in the US since the 70s. Many lay the blame on that squarely on environmental concerns and the resultant red tape with the associated costs. That may be a partial answer, but do you suppose the oil industry had foreknowledge of the true global oil picture decades ago when they decided to stop building refineries? I'll bet they did, and if they didn't, who in the hell would have? Why invest a bunch of money in equipment if you know the feedstocks simply wouldn't be available? Now Canada has their tar sands, which BTW we also have signifcant deposits of in the Western US, but there's a dirty little secret about that source of oil. It takes more energy to produce it than it will deliver. It is only economical to produce at these prices as long as there is an abundant and cheap source of energy which primarily means NG. The problem of course is that as oil becomes more scarce the pressure on NG consumption will escalate raising it's market value. Currently I believe there is more NG around than the price would indicate. How long that lasts is anyone's guess. Somewhere, someone has a pretty good idea. Warren Buffet's recent withdrawl from a major pipeline project may hold some clues. Oil will be available, but at what price? And how will the use of oil be allocated? Without oil the global population would likely plateau at somewhere between 500 million and a billion people, or roughly 10% of the current population. Mechanized farming, pesticides (oil based) and fertilizer (almost 100% derived from NG) are what has allowed us to feed the current population. Barring some miracle dicoveries (or major pandemic/war/natural disaster), over time the global population will soon peak and then decline as the planet returns to sustainability. Of course there will be a prolonged period of overshoot since most of the world's soil is no longer capable of growing much of anything without massive amounts of fertilizer. In essence most of the worlds farm soil is dead. So the likely result is the world's population will shrink well below the normal levels of sustainability until the soil heals sufficiently to once again produce on a sustainable level. This is nothing new. Global population has had several such ballooning and shrinking episodes in the past including such microcosims as Easter Island. Bear in mind, much of what is above is very long term and most of us will not live to see a lot of my prognostications come to fruition. However we are beginning to see the process. I believe the planet is first headed toward an economic collapse that could precipitate from numerable, and likely multiple, sources. It is for this reason I feel the current commodities bull market is a bogey. Ultimately there will be a real bull market in commodities as the planet wars over some dwindling resources, but first, economic collapse will reduce demand below supply while simultaneously causing a move away from fiat currencies and to the ultimate safety of thousands of years of history that precious metals offer. If my guess is right, there will be a period of time during this collapse where actual fiat currency, in the US, will retain utility as the recognized medium of exchange, but eventually that will fail as the confidence in the system fails. Once again most of us won't live to see much of what is above, but I do believe most of us will see the failure of the global economic system. If you manage to squirrel away enough of the right kind of nuts, you should be fine, though I might be concerned with living in any major metropolitian area. Green Acres is the place to be......... Very nice summary. Although I don't have the time and inclination to figure this out precisely, I believe that the marginal cost to acquire new oil and gas reserves is somewhere about - if not higher - than the current price for energy. As you implied, actions of the energy companies seem to make much more sense if they are viewed more from the perspective of expected returns from attempts to expand production. Exxon, for example, choose to buy lots of stock back rather than fully apply large cash balances to develop reserves. On your longer term theory, if oil and even farmland is looked as like giant battery of bio-energy, then high world population is constantly depleting that battery that took millions of years to charge up. The only long term solution, if any, would be a more efficient way to convert solar energy (gas, etc.) into useful energy and making existing farm land much more productive. Some well informed on the issue of solar panels for homes say it takes five years of using the solar power obtained to compensate for the energy used in making those solar panels. That's not good enough but it seems like its going to take (inflation adjusted) prices a lot higher than they are now to discourage all kinds of energy consumption. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.