Today’s AM fix was USD 1,376.75, EUR 1,069.15 and GBP 903.62 per ounce.
Yesterday’s AM fix was USD 1,377.00, EUR 1,070.01 and GBP 904.32 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell $6.00 or -0.43% yesterday to $1,386.70/oz and silver finished +0.71%.
Nothing has changed regarding the positive fundamentals of the physical gold market.
All that has changed is that the price of gold is again lower due to the machinations of [...]
From Casey Research:
What most Americans don’t realize is that dependence on foreign oil isn’t the main obstacle to U.S. energy autonomy. If you think America’s energy supply issues begin and end with the Middle East, think again. One of the most critical sources of foreign energy is due to dry up this year, and the results could mean spiking electricity prices across the country.
In 2011, the U.S. used 4,128 billion [...]
US Energy Independence: The Next Big Thing for 2013?
Rita Sapunor of The Energy Report (12/27/12)
Energy investment is about more than just the commodities; it’s about growth. That’s why, for example, the emerging economies theme has been an important one for investors who know that every business and modern home in Brazil, Russia, China or the African continent will need to keep the lights on somehow. But the next big thing [...]
The U.S. shale boom has driven the cost of Gulf Coast light, sweet oil to its lowest level versus Brent crude in almost a quarter century as the nation’s dependence on foreign supplies wanes.
Light Louisiana Sweet, the benchmark grade for the Gulf Coast known as LLS, has traded on the spot market at an average of 15 cents a barrel more than Brent this year, the smallest premium since [...]
LITTLE ROCK, Arkansas (Reuters) – Republican presidential candidate Mitt Romney will lay out policies on Thursday aimed at achieving North American energy independence by 2020 by pursuing a sharp increase in production of oil and natural gas on federal lands and off the U.S. coast.
President Obama said Thursday he wanted to “do the same thing with manufacturing jobs, not just in the auto industry, but in every industry,” in a Pueblo, Colo. campaign speech.
OBAMA: I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM’s number one again. Now I want to do the same thing with manufacturing jobs, not [...]
The holy grail for any U.S. administration remains energy independence.
Denmark is nearly one-fifth of the way there. And they plan to do it entirely on renewable energy.
According to BP’s annual statistical energy review released last week, the Danes now get 18 percent of their energy from renewables, which is the highest level of any country in the world.
It’s also a full four-percent gain from 2010.
And the BBC reported in April that the current Danish [...]
From USA Today:
WASHINGTON – Former House speaker Newt Gingrich, on the eve of suspending his roller coaster presidential bid, said in an interview with USA TODAY that he will embraceMitt Romney‘s candidacy Wednesday and is ready to campaign for his former rival.
The two men will make a joint appearance in a few weeks, when Gingrich will make an official endorsement. The Romney campaign and the Republican National Committee have offered to be helpful [...]
From Hard Assets Investor:
Oil production in the United States continues to boom.
The Department of Energy reported this morning that in the week ending April 20, U.S. crude oil inventories increased by 4 million barrels, gasoline inventories decreased by 2.2 million barrels, distillate inventories decreased by 3.1 million barrels, and total petroleum inventories were unchanged.
Crude oil prices were little-changed after the latest inventory figures, as both Brent and WTI continue to [...]
MIDLAND, Tex. — The desolate stretch of West Texas desert known as the Permian Basin is still the lonely domain of scurrying roadrunners by day and howling coyotes by night. But the roar of scores of new oil rigs and the distinctive acrid fumes of drilling equipment are unmistakable signs that crude is gushing again.
And not just here. Across the country, the oil and gas industry is vastly increasing production, [...]
Republican National Committee Chairman Reince Preibus, today on Face the Nation:
Republicans have been in favor of this Keystone pipeline. 20,000 jobs. If there ever was such thing as shovel ready project, here’s one of them. Plus it would get us a step closer to energy independence. It wouldn’t be the whole deal, but its a step closer. And this President has shut down everything when it comes to energy independence in [...]
The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo triggered a recession and led to lines at gasoline stations.
Domestic oil output is the highest in eight years. The U.S. is producing so much natural gas that, where the government warned four years ago of a critical need to boost [...]
Obama deals in “typical Washington political gamesmanship that has gotten us exactly nowhere”
January 25, 2012
Describing president Obama’s State Of The Union Speech as “rhetoric” and “bragging”, GOP presidential candidate Ron paul said in a statement today that “Instead of offering solutions to the problems our country faces, the President was intent on delivering a campaign speech.”
The Congressman added that Obama’s speech dealt “in the typical Washington political gamesmanship that [...]
From the Ron Paul 2012 website:
“Tonight, President Obama once again showed that he does not represent the fundamental change this country needs. Instead of offering solutions to the problems our country faces, the President was intent on delivering a campaign speech, further dealing in the typical Washington political gamesmanship that has gotten us exactly nowhere close to improving the lives of the American people.
“In a speech where much of the rhetoric [...]
David Eggen for The New York Times
Refiners are required to blend motor fuel with cellulosic biofuel made from wood chips or the inedible parts of plants like corn cobs.
WASHINGTON — When the companies that supply motor fuel close the books on 2011, they will pay about $6.8 million in penalties to the Treasury because they failed to mix a special type of biofuel into their gasoline and diesel as [...]
December 21, 2011
(NaturalNews) January 1, 2012, was supposed to be the day that the Energy Independence and Security Act (EISA), which was passed by Congress and signed into law by former President George W. Bush back in 2007, came into effect, banning certain high-watt incandescent light bulbs. But all such bulbs will remain on the market, at least for now, thanks to a “rider” that some members of [...]
WASHINGTON, DC (KTVQ) – Montana’s two US Senators did not commit to supporting a Republican bill, but they do want to see approval of the Keystone XL pipeline.
Senate Republicans have proposed legislation to speed up federal action on the controversial Keystone XL oil sands pipeline. The White House has delayed making a decision on the pipeline until after next year’s election, but Republicans want to pass a bill that would [...]
I think it’s fair to say the entire Republican field, including supposed “moderates” Romney and Huntsman, subscribe to this same magical thinking. They find it borderline treasonous for others to suggest America must follow the same laws of physics as everyone else, and it’s an article of faith in the GOP that the only thing holding us back from “energy independence” and even returning to net exporter status is job-killing [...]
Dispelling Myths about the Federal Light Bulb Standard
Written by Drew Navolio on 30 March 2011
The following post is a contribution from Midwest Account Manager working in support of EPA’s ENERGY STAR Program Nora Buehler, with ICF International.
News of the imminent demise of the incandescent light bulb in the U.S. marketplace is greatly exaggerated. While the Energy Independence and Security Act of 2007 (EISA) eventually requires that all general service lamps (i.e., [...]
State lawmakers have passed a bill that allows Texans to skirt federal efforts to promote more efficient light bulbs, which ultimately pushes the swirled, compact fluorescent bulbs over the 100-watt incandescent bulbs many grew up with.
The measure, sent to Gov. Rick Perry for consideration, lets any incandescent light bulb manufactured in Texas – and sold in that state – avoid the authority of the federal [...]
Most Americans see the devastating rise in gasoline prices as an ominous threat to their personal standard of living, prosperity, and basic ability to survive.
Unfortunately, President Barack Obama and most liberal Democrats do not share that concern.
Which is why Obama flippantly dismissed the crisis by warning we the people to, “Get used to it,” perhaps forgetting, or deliberately ignoring, the fact that skyrocketing gas prices are [...]
The study’s researchers found that by growing algae in strategic locations, the U.S. could produce 21 billion gallons of algal oil while reducing the amount of water that is needed for production. That amount of algal oil is equal to the 2022 advanced biofuels goal set by the 2007 Energy Independence and Security Act. And by concentrating algae production in the U.S. regions that have [...]
President Barack Obama shakes hands upon his arrival at Philadelphia International Airport in Philadelphia, Wednesday, April 6, 2011. (AP Photo/Pablo Martinez Monsivais)
FAIRLESS HILLS, Pa. (AP) — Pitching the promise of energy independence, President Barack Obama cautioned Wednesday that it’s going to be tough to transition from America’s oil-dependent economy and acknowledged there’s little he can do to lower gas prices over the short [...]
From the Associated Press:
CAMBRIDGE, Mass. â€“ A Massachusetts biotechnology company says it can produce the fuel that runs Jaguars and jet engines using the same ingredients that make grass grow.
Joule Unlimited has invented a genetically-engineered organism that it says simply secretes diesel fuel or ethanol wherever it finds sunlight, water and carbon dioxide.
The Cambridge, Mass.-based company says it can manipulate the organism to produce the [...]
by jack kane
- Unemployment should be tackled directly. Let the government create massive public projects aimed at reducing pollution and establishing energy independence in the US (or let it vigorously promote grassroots level projects, if big government spending is a problem). For best effects, end the wars and use the Pentagon’s resources to propel the project.
- The structural causes of the crisis must be examined [...]
Depression : New Deal = Great Recession : Stimulus Package (Groundwork) + Incomplete Energy Independence or A Jobs law
The Problem = The destructive war & military waste + Stimulus Package
Therefore = Incomplete Energy Independence or A Jobs law [...]