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(TheBlaze/AP) — A half mile below the ground at Prudhoe Bay, above the vast oil field that helped trigger construction of the trans-Alaska pipeline, a drill rig has tapped what researchers think could be the next big energy source. The U.S. Department of Energy and industry partners over two winters drilled into a reservoir of methane hydrate, which looks like ice but burns like a candle if a match warms its [...] From Carpe Diem: Here’s one more reason why Duke economist Mike Munger was correct when he wrote several years ago that “of all the idiotic things that people believe, the whole ‘peak oil’ thing has to be right up there.” Thanks to new, advanced oil recovery technologies currently being developed that would unlock Canada’s vast oil sands deposits, our northern neighbor could soon surpass Venezuela and Saudi Arabia to become the No. [...] When it comes to energy, and specifically crude oil trading, few names are as respected, if controversial, as former Citi star trader, Andrew Hall, whose $100 million pay package in 2008 forced Citi to sell energy unit Phibro to Occidental. He currently is primarily focused on his own fund Astenbeck, where he trades what he has always traded – commodities, and primarily oil. As such, his view on the oil market is [...] US rejects Syria elections as “ridiculous” – check Israel discovers another oil field offshore; Lebanon maritime border still in dispute – check Saudi saying they will make up lost Iran production (Kuwait, Qatar too) – Check KONY video goes viral; Tullow assessing pipeline routes out of Uganda with partner France and CNOOC – Check South Sudan alternative pipeline via Kenya and Ethiopia moving ahead; China interests isolated; Kenya/Ethiopia Somalia offensive ongoing – Check Nigeria moving [...] NAMPA, Idaho—The staccato of nail guns echoes across a cavernous building here as workers piece together manufactured houses with easy-to-clean linoleum floors and rugged interiors for muddy oil-field workers. There is no oil and gas production in Idaho, but that doesn’t mean the U.S. energy boom has bypassed this bedroom community west of Boise. Fleetwood Homes of Idaho, a subsidiary of Cavco Industries Inc., has increased production by 25% since last [...] F. William Engdahl, author of “Full Spectrum Dominance: Totalitarian Democracy in the New World Order”, thinks the struggle for Libyan oil is the real bottom line of the whole NATO operation. Rebels say they now control most of Tripoli, and have taken Libyan state TV off air. But some reports also suggest that opposition fighters have been looting private houses. Three of Gaddafi’s sons [...] CAIRO — Egypt’s military rulers told human rights advocates Monday that at least 7,000 civilians have been sentenced to prison terms by military courts since Hosni Mubarak was ousted — an astoundingly high number likely to fuel debate over how much the revolution has changed the country. Advocates said the military promised to review the cases and vacate any improper guilty verdicts and commute the [...] One persons “bug up their ass” is another persons sane policy prescription. By DAVID KOCIENIEWSKI When the Deepwater Horizon drilling platform set off the worst oil spill at sea in American history, it was flying the flag of the Marshall Islands. Registering there allowed the rig’s owner to significantly reduce its American taxes. The owner, Transocean, moved its corporate headquarters from Houston to the Cayman [...] by Jackson Andrew $20+Billion in OIL tax breaks to SHORTCHANGE AMERICA -THANKS CHENEY! Deepwater Horizon set off the worst oil spill in History while flying the flag of the Marshall Islands so TRANSOCEAN could AVOID TAXES LIKE IT DID IN 1999 with CAYMAN and 2008 with SWITZERLAND! BP also reaps massive tax benefits (70% write-off) from leasing the rig of $225,000/day or $82 Million/year. American OIL EXTRACTION IS THE MOST GOVERNMENT SUBSIDIZED IN [...] We all know the global/US economies are drowning in debt, and there are different views as to what to do about it. But it seems to me that, like a fish isn’t aware of water (it just IS), we are now so completely ingrained with the fact of debt that we fail to see that debt is now the organizing principle of the economy, a principle that has exceeded its [...] |
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