(2 comments) SHARE Tuesday, August 17, 2010 They Died Before the Oil Ran Out
There is an open secret in the oil industry that dare not speak its name: peak oil. Well, two did speak its name and gained no acclaim for it. One, M. King Hubbert, died years ago. The other and the most controversial, Matthew Simmons, died at his Maine summer home Aug. 8.
The peak oil idea is simple: Oil is a finite commodity, and one day we are going to use up all of it.
SHARE Wednesday, June 30, 2010 The Informational Advantage- What do you Know that Other People Don't
Bank of Japan Deputy Governor Kiyohiko Nishimura discusses "informational advantage" this week at the Lujiazui Forum on economics and finance in Shanghai:
"In my understanding, the Volcker Rule [proposed legislation restricting banks from making certain speculative investments] is designed to deter banks from taking excessive risk in capital markets, where volatility is inherently high and in which bankers do not
SHARE Friday, June 25, 2010 A Bankrupt BP - Worse For The Financial World Than Lehman Brothers?
The BP crisis in the Gulf of Mexico has rightfully been analysed (mostly) from the ecological perspective. People's lives and livelihoods are in grave danger. But that focus has equally masked something very serious from a financial perspective, in my opinion, that could lead to an acceleration of the crisis brought about by the Lehman implosion.
(4 comments) SHARE Friday, June 25, 2010 Government Insiders: Get Ready for the Gulf Dead Zone
Bad news concerning the Gulf oil disaster continues to come from WMR's federal government sources in the Federal Emergency Management Agency (FEMA) and the US Army Corps of Engineers. Emergency planners are dealing with a prospective "dead zone" within a 200 mile radius from the Deepwater Horizon disaster datum in the Gulf
SHARE Sunday, June 20, 2010 Crude Oil Holds on to Week's Gains After High Inventories Threaten Rally
Crude oil futures held on to strong gains for the week in lackluster Friday trading, after higher-than-expected inventories earlier in the week threatened to cut short the rally. At the same time, with the front-month July contract set to expire on Tuesday, analysts didn't see much incentive for prices to move above current levels next week.
(1 comments) SHARE Monday, June 14, 2010 Geothermal Elbowing its Way into the Mainstream
The U.S. Department of Energy announced it will provide developer U.S. Geothermal with a $102 million loan to help construct a 22 MW power plancompany's Neal Hot Springs project in Oregon.
(1 comments) SHARE Wednesday, June 2, 2010 BP's Continued Existence Seen Coming Under Threat as Gulf Oil Spill Continues
The continued failure of BP's efforts to stop the Gulf oil spill and mounting political pressure are putting the very future of the British-based oil giant in question.
BP shares plunged again on Tuesday, wiping $17 billion off the market capitalization of the company. Premiums on credit default swaps to insure the company's debt soared 75% to $178,000 for $10 million as analysts began to question whether the company
SHARE Saturday, May 22, 2010 BP Gets Pass From Obama Administration To Potentially Pollute Lake Michigan
The Obama administration, already charged with providing political cover for BP in the Gulf of Mexico mega-oil disaster, is also charged with allowing BP to renege on agreements between the firm, the US Environmental Protection Agency (EPA), and the state of Indiana to prevent pollution of Lake Michigan from the firm's Whiting, Indiana refinery near Hammond.
(1 comments) SHARE Thursday, May 20, 2010 Psychological Plunge in Oil Prices Makes OPEC Nervous, Official Says
The plunge in oil prices in the wake of the euro crisis has OPEC worried.
Qatar oil minister Abdullah bin Hamad Al Attiyah emerged as an unofficial spokesman for the oil cartel over the weekend in a series of news agency reports from the Gulf that signaled the group's concern.
(2 comments) SHARE Thursday, May 13, 2010 Exotic investment Vehicles: An Unproductive Abuse of Capital
Michael Lewitt has an interesting new book out, called "The Death of Capital".
In it, Lewitt attacks speculative investment activities such as private equity buyouts. He notes that such speculation "has been a prime abuser of capital as it has diverted an inordinate amount of capital into unproductive uses while producing (at best) mediocre returns and charging unjustifiably exorbitant fees."
SHARE Thursday, May 13, 2010 Chesapeake Energy investment signals sovereign wealth fund appetite for global resources
One of Asia's most active sovereign wealth funds is investing up to $1 billion in the U.S. company that helped pioneer production of shale gas, Chesapeake Energy.
Temasek Holding, a $172-billion fund owned by the government of Singapore, will buy $500 million in preferred shares in Chesapeake, and has an option with Hopu Investment Management, a private equity firm in Beijing, to place another $500 million in Chesapeake
(2 comments) SHARE Monday, May 10, 2010 Crude Oil Plunges as Turbulence Rocks Financial Markets
In a week of market turmoil resulting from Greece's fiscal crisis, oil went from an intraday high above $87 on Monday -" its highest point in more than a year and a half -" to plunge briefly below $75 on Friday.
SHARE Monday, May 10, 2010 Vanishing Uranium Resources
There was a mysterious disappearance of uranium in South Australia last week.
Uranium mining hopeful PepinNini Minerals reported a new resource estimate on its Crocker Well project. And something was missing.
SHARE Saturday, May 8, 2010 The Cover-up: BP's Crude Politics and the Looming Environmental Mega-Disaster
WMR has been informed by sources in the US Army Corps of Engineers, Federal Emergency Management Agency (FEMA), and Florida Department of Environmental Protection that the Obama White House and British Petroleum (BP), which pumped $71,000 into Barack Obama's 2008 presidential campaign -- more than John McCain or Hillary Clinton, are covering up the magnitude of the volcanic-level oil disaster in the Gulf of Mexico