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OSAKA — Explosions at a chemical plant in Hyogo Prefecture on Saturday killed a firefighter and injured dozens of people, the Japan Times reported, citing local fire department and police officials said. Global production of diapers could be affected because the plant made a key ingredient in a resin used in them, Japanese media reported. A fire broke out about 2 p.m. after an abnormal chemical reaction at Nippon Shokubai Co.’s plant in [...] by Gregor Macdonald, CM In the Spring of 2011, when Libyan oil production — over 1 million barrels a day (mpd) — was suddenly taken offline, the world received its first real-time test of the global pricing system for oil since the crash lows of 2009. Oil prices, already at the $85 level for WTIC, bolted above $100, and eventually hit a high near $115 over the following two months. More importantly, however, is [...] by David Pierre ONLY A MATTER OF TIME There was a recent article on ZH with a graphic that put in perspective how much Gold is mined in one year on a global basis. A 16 ‘x16′x16′ cube. That is all the Gold mined in the world in one year! One room could house all the Gold produced in the world for one year! This is worth in Dollars? More or less $140 Billion. How much was it worth in the year 2000 … [...] Since 2005, the global production of oil has remained relatively flat, peaking in 2008 and declining since, even as demand for petroleum has continued to increase. The result has been wild fluctuations in the price of oil as small changes in demand set off large shocks in the system. In today’s issue of Nature, two authors (the University of Washington’s James Murray and Oxford’s David King) argue that this sort of volatility [...] From John C.K. Daly of OilPrice.com Guest Post: Afghanistan – Newly Discovered Mineralogical Treasure House (Again) As the U.S.-led Afghan campaign lurches into its second decade, the country’s vast untapped mineralogical resources are again emerging in the Western media, seemingly underpinning the benefits of International Security Assistance Force troops “staying the course” and defeating the insurgency, after which these resources can be tapped, both [...] Most investors assume that because silver is almost 50 times cheaper than gold, it’s more abundant. They’re wrong. The amount of available silver is far rarer than the amount of available gold. This fact is often overlooked by even the most seasoned silver investors. And it’s this lack of silver stockpiles that has become one of the most critical factors in what could jolt prices, lifting silver into an entirely [...] by ZH From the Japan Automobile Manufacturers Association. In short: April car exports were an unprecedented disaster, with the average exporter seeing a 68% drop Y/Y, with some, such as Toyota plunging from 150,118 to only 31,025 cars in April 2011. And while this would be the ideal environment for US carmakers to grab market share, the fact that many are missing critial Made in Japan components [...] Just in case you were worried that David Rosenberg had turned all bright and happy with regards to the US equity markets – he brings us his 7 major risks brewing: China hard landing (PMI down to 51, perilously close to contraction mode)…equity market may have begun to price in some probability of such. Contagion sovereign credit risks in Europe (the rating agencies have already begun to take [...] TOKYO (AP) — Toyota’s car production in Japan plummeted a staggering 62.7 percent in March due to a parts supply crunch following the earthquake and tsunami. Toyota Motor Corp., the world’s top-selling automaker last year, said Monday its domestic production in March was 129,491 vehicles — the lowest since 1976 when Toyota began maintaining production figures. The magnitude-9.0 earthquake and tsunami on March 11 destroyed many [...] by Damnthematrix http://www.countercurrents.org/staniford160411.htm Saudi Arabia Did Not Make Up For Libyan Oil By Stuart Staniford 16 April, 2011 The OPEC MOMR came out late yesterday, but it adds to the picture from the IEA report mentioned yesterday morning. In particular, I can now present revised graphs for total liquid fuel production. Here’s the last three year view (not zero scaled): Note that the rise that’s been going in since last [...] From Jeff Clark of Casey Research How Much More Demand Can Silver Handle? The numbers for silver demand are starting to make some market-watchers nervous. The U.S. Mint sold over 6.4 million silver Eagles in January, more than any other month since the coin’s introduction in 1986. China’s net imports of silver quadrupled in 2010, to 122.6 million ounces, roughly 13.7% of global production. Meanwhile, mine production [...] by zh As the chart below shows the price of a basket of grains and palm oil has risen almost 50 percent since the 50-day moving average passed through the 100-day line. On the two previous times this occurred the past decade, prices about doubled or tripled over the following two years before peaking. In other words, if history is any indicator, we may see a quadrupling [...] by BocaJoe Quietly and without the rest of the world taking much notice, China has managed during the last 20 years to establish a global monopoly over rare earths. Today, the country mines 95 percent of the global production of these minerals, which are essential for manufacturing many high-tech products from wind turbines to missiles, hybrid cars and drills. The export of rare earths is subject to export duties and licenses. [...] At its peak in the first quarter of 2008, the debt-to-income ratio stood at 131%. The fundamental problems have still not been addressed, the government is still enabling companies to make risky loans, placing an artificial floor under housing, subsidizing failure and taxing success hoping to eek out just enough recovery. The sheer damage done in these boom-and-bust cycles is much greater than politicians and the media usually acknowledge. The government [...] |
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