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The oil and gas extraction industry lost 600 payrolls in March, according to the BLS report out this morning.
That ends a 27-straight month period without job losses for the sector. Total payrolls fell to 192,500 from 193,100. We shouldn’t necessarily be surprised — oil prices have now entered their second year of a downward trend. Read more: http://www.businessinsider.com/oil-and-gas-jobs-fall-in-march-2013-4#ixzz2PaxJjzGf Byron King’s Shocking 2013 Predictions Source: Brian Sylvester of The Energy Report (12/20/12) Byron King, editor of the Outstanding Investments and Energy & Scarcity Investor newsletters, is expecting surprises in the energy sector in 2013. In this interview with The Energy Report, King discusses his forecasts for fracking’s impact on oil and gas prices, a worldwide uranium shortage and a possible change in the economics of alternative energy sources. The Energy Report: Let’s [...] The City watchdog, the Financial Services Authority, is investigating claims by a whistleblower that Britain’s £300bn wholesale gas market has been “regularly” manipulated by some of the big power companies, exploiting weaknesses that echo the recent Libor scandal. Separately, the energy regulator Ofgem has been warned by a company responsible for setting so-called benchmark prices, ICIS Heren, that it had seen evidence of suspect trading on 28 September, a key date [...] GOOGLE TRANSLATE: The head of Iran’s central bank last raised his hands to signal surrender market. Mahmoud Bahmani said the currency will announce new prices for the next 10 days to get a single exchange rate. Iran already had tried the single currency rates, but failed. Amir Payvar reports. http://www.bbc.co.uk/persian/business/2012/08…
Excerpts of the report, posted this week on several Iranian websites, revealed that the government might not be able to pay the full salaries of its [...] From Mineweb: Australia declared the top of the resources boom, which had cushioned the country against the global financial crisis, a day after the world’s biggest miner BHP Billiton shelved two major expansion plans worth at least $40 billion. One minister went as far as calling the end of the resources boom, but later rowed back to say commodity prices had peaked while investments in multi-billion dollar projects would continue, especially in [...] WE’RE now in the midst of the nation’s most widespread drought in 60 years, stretching across 29 states and threatening farmers, their crops and livestock. But there is another risk as water becomes more scarce. Power plants may be forced to shut down, and oil and gas production may be threatened. Our energy system depends on water. About half of the nation’s water withdrawals every day are just for cooling power [...] Moody’s cuts Italy’s credit rating to just above junk Latest 15.30 Spain’s economy minister, Luis de Guindos, has approved a new fund of up to €18bn to ease the regions’ difficult funding situations: The fund will finance the autonomous communities on the basis [...] Greece faces the threat of rolling power blackouts as the economic crisis leaves utilities without cash to pay for natural gas imports and operate power stations. Regulators will meet with Greece’s power market operator as early as today to discuss an emergency loan of 300 million euros ($375 million) to cover payments for gas imports fromRussia’s OAO Gazprom (GAZP), Turkey’s Botas AS and Italy’s Eni SpA. (ENI) The country’s largest power producer is almost out of [...] Nicole Foss, The Automatic Earth 2008 was a practice run, or a warning shot across the bow, compared to what is coming over the next few years.
2008 did not demonstrate what a liquidity crunch really means, but this time we are going to find out. As with many aspects of financial crisis, Greece is the canary in the coalmine, demonstrating what happens when liquidity disappears and it ceases to be possible to [...] Nicole Foss, The Automatic Earth 2008 was a practice run, or a warning shot across the bow, compared to what is coming over the next few years.
2008 did not demonstrate what a liquidity crunch really means, but this time we are going to find out. As with many aspects of financial crisis, Greece is the canary in the coalmine, demonstrating what happens when liquidity disappears and it ceases to be possible to [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, there are lots of deals in alternative-energy technology stocks. Your research just has to dig deeper. That’s what I discovered when I was publishing my financial newsletter years ago. So when I saw Wired magazine’s new feature, “The Clean Tech Meltdown,” I knew there had to be stocks that probably weren’t melting down, were overlooked, appealed to contrarians [...] Howard LaFranch Twenty-five cents a gallon — that’s about how much some international energy experts say the tough U.S. sanctions on Iran’s oil industry are costing Americans at the pump. As U.S. consumers cope with gas prices that are approaching an average of $4 a gallon, some international trade experts say the cost of the sanctions the U.S. imposes — as in the case of the Iran measures — [...] From Dividend Growth Stocks: The energy sector includes businesses engaged in the production and sale of energy products. This includes extraction, manufacturing, refining, and distribution. As the world’s population increases and third-world countries continue to develop, there will be more intense demand on our finite supply of energy. We have seen this imbalance manifest itself in the form of higher gasoline and diesel prices, which has resulted in upward price pressure on [...] From Marin Katusa, Chief Energy Investment Strategist, Casey Research: Every salesman wants to present his product in the best light possible and the salesmen of the stock market are no exception. Public companies always highlight the positives about their projects, their financial positions, and their outlooks, and downplay negative news as much as legally possible. In the resource sector there is a long list of tactics that companies use to put their [...] http://www.treehugger.com/green-inve…last-year.html Business continues to boom in the global clean energy sector: Reuters reports that deals in the solar, wind, and energy efficiency industries netted a record $53.5 billion last year. That’s a rather significant 40% from 2010, according to the analysis from PriceWaterHouse Coopers. And what’s more, total investment in renewable energy broke the record, too: $260 billion was directed to the burgeoning business of clean power. Even more encouraging was the [...] http://www.treehugger.com/green-inve…last-year.html Business continues to boom in the global clean energy sector: Reuters reports that deals in the solar, wind, and energy efficiency industries netted a record $53.5 billion last year. That’s a rather significant 40% from 2010, according to the analysis from PriceWaterHouse Coopers. And what’s more, total investment in renewable energy broke the record, too: $260 billion was directed to the burgeoning business of clean power. Even more encouraging was the [...] From USA Today: Geothermal energy developers plan to pump 24 million gallons of water into the side of a dormant volcano in central Oregon this summer to demonstrate technology they hope will give a boost to a green energy sector that has yet to live up to its promise. They hope the water comes back to the surface fast enough and hot enough to create cheap, clean electricity that isn’t dependent on [...] In the Treasury we do not speak of tons of silver. Our unit is the troy ounce.” That was the response from some bureaucrat when Leslie Groves, the man who oversaw the Manhattan Project, sought thousands of tons of silver to be turned into electrical wires. Groves got his silver. Why? Because completing the Manhattan Project — and winning the Second World War — was America’s top priority. For three years, the Obama [...] John Daly Over the past few weeks Iran, already beleaguered by a raft of existing U.N. and national sanctions, has seen the U.S. and the European Community adding further economic punishments. Last week the U.S. Senate on a 100-0 vote passed legislation to penalize foreign banks that do business with Iran’s central bank, while this week the U.S. House of Representatives will vote on legislation to punish nations and companies [...] …Perry expressed his skepticism about global warming….
…Jim Rubens, a Republican…..who works as a consultant for the Union of Concerned Scientists. Rubens prefaced his question by reading statements from Perry’s book “Fed Up!” that global warming is “a contrived phony mess that is falling apart under its own weight.”
Rubens, an investor who works in the clean-energy sector, asked Perry how he reconciled those views and his assertion [...] by Cam Hui, SA The economic headlines look good. Last Friday we saw the US Non-Farm Payroll report came in ahead of expectations and China’s PMI rose indicating continuing growth. Stock markets rallied on the news. With major equity indices approaching an important resistance level (click to enlarge images)… …and the small cap Russell 2000 already in a healthy relative uptrend and breaking out to new highs relative to the [...] |
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