Archive for June, 2008
Giant Oil Companies to Return to Iraq Under No Bid Contracts
June 19th, 2008Imagine my complete and total shock. Via: IHT: Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concession to nationalization as Saddam Hussein rose to power. Exxon Mobil, Shell, Total and BP — the original partners in […]
Flooded Corn Fields = Higher Gasoline Prices
June 19th, 2008This situation represents a massive, slow moving disaster and few people (outside of commodity trading circles) even realize it yet. The criminal corn lobby, and the whores in Congress who service it, are the ones to thank for this. Via: Reuters: U.S. gasoline prices, which have already jumped to a nationwide average over $4 per […]
The Best Farmland in the U.S. Is Flooded; Most Americans Are Too Stupid to Panic
June 19th, 2008The best commentary I could offer is a link to a previous story: World’s Largest Maker of Crop Nutrients: Famines May Occur Without Record Harvests But I’ll ramble on a bit more about this, anyway. As soon as I became aware of the flooding situation in the American Midwest, I posted the story with the […]
MEXICO FREEZES PRICES ON FOOD ITEMS TO STEM INFLATION
June 19th, 2008Via: Houston Chronicle: Moving to stem rising inflation and civil discontent, President Felipe Calderon and Mexican industrialists announced an agreement Wednesday to freeze prices on more than 150 food items. The pact, which will be in effect through the end of the year, comes amid escalating costs of corn and other staples of the Mexican […]
Australia: Food Bowl Areas Soon “Beyond Repair”
June 18th, 2008Via: Bloomberg: Parts of Australia’s key Murray-Darling river food bowl may be beyond recovery unless a prolonged dry spell and political wrangling over water use ends by October, a leaked scientific report warned on Wednesday. “There has been 10 years at least that people have said you have got to restore the environmental flows to […]
$1.3 Trillion in Writedowns; Only 1/3 of the Way Through Credit Crisis
June 18th, 2008Via: Bloomberg: John Paulson, founder of the hedge fund company Paulson & Co., said global writedowns and losses from the credit crisis may reach $1.3 trillion, exceeding the International Monetary Fund’s $945 billion estimate. “We’re only about a third of the way through the writedowns,” Paulson, 52, told the GAIM International hedge fund conference in […]
RBS ISSUES GLOBAL STOCK AND CREDIT CRASH ALERT
June 18th, 2008Via: Telegraph: The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks. “A very nasty period is soon to be upon us – be prepared,” said Bob Janjuah, the bank’s credit strategist. A […]
Scientists Engineer Organisms That Eat Waste and Excrete Petrol
June 18th, 2008Oh sure. The little GMO oil bugs will never escape their containment systems! HAHA! What could possibly go wrong? Also, the article states that sugarcane feedstock produces oil at $50 per barrel. It doesn’t mention what the lower sugar feed stocks yield. Hint: It’s going to be MUCH more expensive than with sugarcane. This sounds […]
Wayne Madsen Report: Another 9/11 Waiting to Happen
June 18th, 2008This makes for interesting reading, if you don’t mind not being able to verify anything that’s being said about Carnaby. The usual caveats apply to this one, double plus. Via: Rumor Mill News: Roland “Tony” Carnaby, the one-time CIA station chief for the Southeast Region slain by Houston police on April 29, was an advocate […]
The Electric Car Lives
June 18th, 2008Via: Business Week: Clean, quiet, and relatively profitable to produce, electric vehicles have had a rough start in the U.S.: Five years after General Motors (GM) nixed its innovative EV1 electric car program, just a handful of automakers have committed to making and selling electric vehicles on a mass scale any time soon. Enter Think […]
