Category Archives: Energy

You’ll Own Nothing And You’ll Be Happy

(Martin Armstrong) I am deeply concerned that too many Americans are totally blind to the truth. They think this election is just about Biden v Trump. This is the World Economic Forum video on 8 predictions for 2030 which includes the surrender of the United States to the United Nations – they just say the US will no longer be the world Superpower. They will end eating meat, hence Gates’ investment in meat alternatives, will make fossil fuels history which is why Biden said in the debate he will end the fossil fuel industry and he will rejoin the United Nations.

  1. “You’ll own nothing” — And “you’ll be happy about it.”
  2. “The U.S. won’t be the world’s leading superpower”
  3. “You won’t die waiting for an organ donor” — They will be made by 3D printers
  4. “You’ll eat much less meat” — Meat will be “an occasional treat, not a staple, for the good of the environment and our health.”
  5. “A billion people will be displaced by climate change” – Soros’ Open Borders
  6. “Polluters will have to pay to emit carbon dioxide” – “There will be a global price on carbon. This will help make fossil fuels history”
  7. “You could be preparing to go to Mars” — Scientists “will have worked out how to keep you healthy in space.”
  8. “Western values will have been tested to the breaking point.” – “Checks and balances that underpin our democracies must not be forgotten”

This is the agenda that has been set in motion by this fake COVID-1984 Pandemic which was instigated by these people and the lock downs were intended to crush the economy, set it in the direction of nationalizing all industry, and wipe out small business. They are developing passports that will require vaccines in order to travel. They are deliberately trying to reduce international travel to reduce pollution and to prevent mass uprisings against their new Communist Agenda. Yes, they are moving from socialism where you still own something to communism where the government owns everything. It is no coincidence that Pikkety is behind this in league with Klaus Schwab. Communism began in France. They sold the idea to Karl Marx which was first a socialist.

This is what is at st6ake in this election. This is not about liking or disliking Trump. They want people to vote on such a superficial basis that he is obnoxious, insults people, and is one of the hated rich.

This is the real danger we face – World Economic Forum and its vision for a new Communist Green World Order. The press will NOT do their job. For if they did, they would expose the fact that the World Economic Forum sold all its investments just before the crash. Klaus Schwab is the new Karl Marx. This is the greatest organized conspiracy in human history and the press is welcoming it with open arms. You will own nothing in 10 years, but you will also have no rights. – Papers Please!

Source: by Martin Armstrong | Armstrong Economics

Chesapeake Files For Bankruptcy, Wiping Out $7 Billion In Debt And Any Existing Equity Value

After years of melting, the Chesapeake ice cube is finally history: at exactly 350pm on Sunday afternoon, the company that launched the US shale boom, finally gave up and filed for a pre-packaged bankruptcy in the Southern District of Texas. In so doing, the company with roughly $9.5 billion in debt has become one of the biggest victims of a spectacular collapse in energy demand from the virus-induced global recession, and follows the collapse of another high-flyer in the US oil patch, Whiting Petroleum, which filed for Chapter 11 at the start of April after championing what was once the premiere U.S. shale field, the Bakken of North Dakota.

As part of its prepack agreement, Chesapeake announced that it had entered into a Restructuring Support Agreement (“RSA”) with 100% of the lenders under its revolving credit facility, holders of approximately 87% of the obligations under its Term Loan Agreement, approximately 60% of its senior secured second lien notes due 2025, and approximately 27% of its senior unsecured notes, pursuant to which Chesapeake will implement a Chapter 11 plan of reorganization to eliminate approximately $7 billion of debt.

Of course, since 73% of unsecured bondholders refused to sign off on the deal, expect a very vicious bankruptcy fight over the recoveries, as hedge funds that accumulated positions in the bonds unleash hell in their fight with the secureds (even as the equity committee claims that all classes above it should be unimpaired).

Also, we have some bad news for Jefferies, which won’t be able to repeat its hilarious attempt to fund the company in bankruptcy by selling stock to Robnhood daytraders: as part of the RSA, the Company has secured $925 million in debtor-in-possession financing lenders under Chesapeake’s revolving credit facility.  The DIP will provide Chesapeake the capital necessary to fund its operations during the Court-supervised Chapter 11 reorganization proceedings.

To summarize: Chesapeake which enters bankruptcy with just over $9.5 billion in debt…

… will eliminate about $7 billion of it, and emerge with a $2.5 billion exit financing, consisting of a new $1.75 billion revolving credit facility and a new $750 million term loan. Additionally, according to the RSA, the Company has the support of its term loan lenders and secured note holders to backstop a $600 million rights offering upon exit.

Doug Lawler, Chesapeake’s President and Chief Executive Officer, stated, “We are fundamentally resetting Chesapeake’s capital structure and business to address our legacy financial weaknesses and capitalize on our substantial operational strengths. By eliminating approximately $7 billion of debt and addressing the legacy contractual obligations that have hindered our performance, we are positioning Chesapeake to capitalize on our diverse operating platform and proven track record of improving capital and operating efficiencies and technical excellence. With these demonstrated strengths, and the benefit of an appropriately sized capital structure, Chesapeake will be uniquely positioned to emerge from the Chapter 11 process as a stronger and more competitive enterprise.”

Lawler concluded, “Over the last several years, our dedicated employees have transformed Chesapeake’s business — improving capital efficiency and operational performance, eliminating costs, reducing debt and diversifying our portfolio. Despite having removed over $20 billion of leverage and financial commitments, we believe this restructuring is necessary for the long-term success and value creation of the business.”

In addition to leverage, Lawler also removed all the equity value, because with $7 billion in senior debt destroyed, there is no question here: the common stock has no value and will almost certainly be delisted immediately to avoid any potential “misunderstandings” should an army of 10-year-old veteran Robinhood traders decided to ramp it up by a few hundred percent.

And speaking of the company’s stock and day trading activity, it is as if 216,915 Robinhood traders suddenly cried out in terror and were suddenly silenced.

Why? Because according to RobinTrack, some 216,915 users who held on to the stock as of April 14, and whose number has certainly surged in recent days after the stock soared as high as $84.75 on June 8 during the peak of the retail euphoria boom that sent bankrupt Hertz stock also soaring and inspired Jefferies to read this blog and come up with the now-failed attempt to sell worthless stock to Robinhooders.

That said, in a market as insanely broken as this one, it is certainly possible that CHK stock which the company admits is worth about a negative $7 billion, could surge tomorrow… just because.

* * *

Finally, some corporate history courtesy of Bloomberg:

About a decade ago, Chesapeake was a $37.5 billion giant led by the late Aubrey McClendon, a colorful and outspoken advocate for the natural gas industry, who died on March 2, 2016 in what appeared to be a suicide. It was at the forefront of the fracking revolution that transformed the U.S. oil and gas industry by setting off a scramble for previously untapped shale reserves. The company cut eye-popping checks to Fort Worth businesses and residents as inducements to drill on their land in the Barnett Shale of North Texas, America’s first shale field to hit the big time.

Those heady days didn’t last. U.S. natural gas slumped after the financial crisis as the frackers overwhelmed demand, and prices still haven’t revisited their previous highs. Investors soured on Chesapeake, which by that point wasn’t only debt-laden but saddled with a real estate empire that included shopping centers, a church, and a grocery store. McClendon was ousted in 2013 and was killed in an auto accident three years later.

In subsequent years, management sought to compensate for the decline in its gas fortunes by shifting into oil exploration as fracking turned the U.S. into the world’s largest producer of crude as well as a major exporter. However, any optimism about that strategy evaporated with oil’s recent price collapse amid the Covid-19 pandemic.

Lawler took over Chesapeake in 2013 with an aim of reducing its debt load that was larger than Exxon Mobil Corp.’s, a company 29 times Chesapeake’s market value at the time. He had counted on capital spending cuts and asset sales to cover debt obligations. The company was in talks last year with Jerry Jones, the billionaire Dallas Cowboys owner, about a $1 billion sale of shale assets, but no deal resulted.

In May, Lawler was forced to discard his company’s full-year outlook and write down the value of $8.5 billion in assets as energy demand tumbled amid the Covid-19 lockdown. By then, the producer’s market value had dropped to less than $200 million.

Source: ZeroHedge

Prepping: 15 Things That Will Mostly Happen In Cities When The Economy Finally Collapses

We should all be prepared for what’s coming next.  In order to prepare effectively, we need to know what will happen when the economy finally collapses under its own weight.  The creation of trillions in excess (((currency))) out of thin air can only go on for so long, and we are approaching the end.

Epic Economist put together a great video detailing the 15 things (and yes, some are a little scary) that will happen when the economy collapses.  At this point in time and history, it is no surprise that an economic collapse is coming for us. When the world’s largest economy is deep down in a recession, many other countries will not be late to follow the same path.

The financial breakdown the world is about to face over the next several years will be an unprecedented catastrophe, especially considering that the underlying problems from previous crashes were never fixed, only mended together. A real repair would require a complete restructuration in the system, and the elites were never interested in fixing the system that they set up to screw the rest of us out of everything we’ve worked for.

These are the 15 things that will happen that you should be prepared for:

1 -Fuel Shortages, or rationing of fuel
2 -Carjackings rise
3- Interstate Trucking is compromised, limiting the supply of essential goods
4-Defaults in garbage disposal and urban sanitation
5- Food scarcity, a disruption in food supply chains
6-Water quality drops and municipal supply disruption
7-Survival mode slaughtering of local wildlife and zoo animals for food.
8-Pets go missing
9-Civil agitation leads to turbulence in the streets
10-Attacks become more frequent
11-Kidnappings Increase
12-Gang Activity Increases
13-Banks Close
14-Hospitals become Overloaded
15-Martial Law Enacted

Knowing that these things are likely to happen when the economy collapses should help give you an idea of what you’re going to need to be prepared.  Make sure you know how to defend yourself and your family. Make sure you have a way to filter water.  You will need to be able to avoid crowds and live on your own, potentially off the grid. Become self-reliant and do not put your faith in the system.  Most people are still desperately fighting to keep the system intact in spite of the awareness that it’s rigged and corrupt.  Instead, leave the system, put your faith in yourself, improve critical thinking skills, and create your back up plans.

Source: ZeroHedge

***

From the linked comment section …

Perry Colace

Here is my story. Some of you may have read it, but, I like to post this to let you know that SOME headed the warnings early on. Back around 2000 I started to read about the founding of this nation, where we are now and how it is vastly different than the intentions of those who built this nation. I was in NJ at the time, and starting listening to the early version of podcasts, mainly from an older gentleman who lived through the Great Depression and had relocated in anticipation of it…..or worse…..happening again. He talked about the unsustainable debt, mass inflows of people from incompatible cultures, advancing surveillance/police state, the vulnerabilities of the power grid and ‘just in time’ delivery of household goods. And, most importantly, how the average American had become complacent and used to all things flowing to them, rather than working to provide for some of the basics in life: Water, food and shelter.

I was in NJ at the time (I grew up there), and purchased a book called ‘Strategic Relocation: North American Guide to Safe Places’. After reading it, I said: ‘I have to leave very soon. I do not know how much time I have remaining, but, this is a bad place to be when everything turns upside down’. So, I visited several areas mentioned in that book. In 2004 I landed in the Missouri Ozarks and immediately was drawn to it. I said, ‘This is where I want to move’. Back then, civilian contracts on military bases for pharmacists (my profession) were easy to find and VERY lucrative. I moved to the Fort Leonard Wood area in 2006 and went to work. I had 3 goals: Pay off my consumer debt (approximately $150,000.00), save for a piece of land in the countryside with NO MORTGAGE, and create a food storage supply which would be enough for me for about 5 years (that includes open pollinated seed storage and junk silver savings, too).

I was free from debt in June 2009, had my food storage goal reached by 2012 and had enough money saved for the property I currently live on by 2014. The previous owners and I went back and forth in negotiations (they did NOT want to move in 2014, but, did the following year) until we settled in Sept. 2015. I moved to the Southern Missouri Ozarks in November. I live on 20 acres, 2100 sq ft home, 75×25 workshop (which includes a leanto for animals and firewood on one side, and an additional shelter for vehicles on the other. I have a private well, septic tank, home is heated with wood, backup generator which runs on propane….of which I have over 1,000 gallons in reserve. I had been working for a large pharmacy chain at the time and transferred to this area. After working for it for a little over a year, I left and started to work for 5 small independent pharmacies, on a part time or per Diem basis. My income dropped by about 30%, but, with no debt, low taxes and regulations (my county has NO zoning and planning and property taxes are $500.00 annually….no typo, either $500.00), I could afford the pay cut. Working less for wages, it gave me more time to work on the farm with gardening and home improvement projects.

Fast forward to today, when 2020 went from the mundane to a completely chaotic world, I was ready. Still scared, but ready. When people needed food, they got it. When someone needed money, I had it. When others had their work projects dried up, I needed a skilled professional. My life has not changed much. Here is a good thing to remember too. When things like this happen, it is wise to not boast and brag about how you prepared and they did not. Help them any way you can. Be kind and peaceful. I own firearms, but, I do not believe that I am going to sit here and act like that is how I am going to live through this. I will do so by being friendly and loving to my neighbors and others (we are having a neighborhood barbecue in a couple of weeks to discuss what is happening and how we can lift each other up).

So, while the rest of the world was fiddling, I was working and saving and preparing. Now that we are here, I want to help those that I can and give advice and hope to those who are fearful. If you are of a mind to do so, turn to God and be thankful for what you have and support those worthy of your help.

***

Bounder

For those of you thinking about this choice – you can do it.  We went from living in a major city in a huge house and running a business and paying over $55,000 a year in property tax on the house and business – and 5 years later we are 100% self sufficient in a beautiful area of the country with everything paid for. Its not easy, and there are a lot of sacrifices to make it work, but it is the best damn thing I have ever done. And our property tax for the same size house with 26 acres and a running year round creek, along with the the large commercial building in the industrial park area of the city for our business is now only $5,600 a year – and the people at the tax assessor apologize because it so high! One tenth of what we were paying in Texas!

In Collin county where we were, they literally spat on you every year and said point blank to you should count your self lucky to be paying only $55,000 a year and acted like they were doing you a huge favor. It was sickening.

Our are area is one of the most “conservative’ in the country and also the most self reliant. Our county can feed itself, provide plenty of hydro electric power and also is one of the most heavily armed areas of the country.

And we are way more than a gas tank away from any blue **** infested hell hole city.  

***

Perry Colace

Same here. I am about 4hrs from St. Louis, at least 5 from Kansas City, 3hrs from Little Rock and at least 5 from Memphis. The closest city of any size near me, and the one in which I work about 50% of the time, is Springfield, MO. It is a little over an hour from me, has a relatively low crime rate and a population of 160k, 90% of which is white. My biggest costs are fuel and vehicle maintenance. I am fastidious about keeping them in top condition, because that is how I make my money. 

That said, I had friends of mine call me earlier in the week. They are very old friends, married with two children. Half joking and half serious, they said, ‘Do you have room for 4 more there?’. They still live in NJ and are freaked out by what has been going on. The most sobering and sad thing they said was, ‘You know, you have been talking about this for years… and you were right’. So, they have ZERO preparations, a mortgage, car payments, kids in the mass retardation facilities called ‘schools’, jobs they do not want to leave, etc. You know the drill. With all of that, my friend’s wife says, ‘We have been talking about buying a taser. What do you think?’. I almost laughed. They have never owned any form of self defense and are prepared for nothing. Yet, buying a taser is their bright idea. I said, ‘You better be prepared to hunker down right where you are. Get together with your neighbors. Develop good relations with them and support each other’. After I hung up the phone with them, I sat there and thought about our conversation. When they opened up with, ‘Please take us in’, I concluded the following… and no malice towards them, of course. They were not thinking of this, only their own survival. What they were in essence saying was, ‘We spent all of those years vacationing, spending time and money on frivolous things, relying on today’s calm to predict tomorrow’s future and laughing at people like you “Doom and Gloom” types, while you were working, being busy and goal oriented and hurrying to put your plans in place… NOW, we want YOU to bail our chestnuts out of the fire’. I love them. They are responsible for their own undoing, if that is what happens.

***

Saatva Hodaya

I have done all this also. All the situations that are occurring now “out there”, I have remained completely untouched.  The whole system does not need to fall for a person to exhibit a little common sense.  I was prepared for all this currently happening – and in fact don’t even have to go “out there” except once a month just to replenish a few perishables.  Of course, people can sit around and call this author a doomsdayer but as a person who just missed the great depression, common sense dictates that a person who works toward being as little dependent on the outer world, is a wise person.  My taxes are also less than $450 a year.

***

Perry Colace

I agree 100%. When I moved out here, family and friends laughed at me. LAUGHED and mocked. ‘What are you moving there for, END OF THE WORLD?’. ‘Don’t you get lonely? You should consider moving to a city. There are more single women there’. Everyone gave me practical advice for which I never asked, nor had any use. When you tell city people that you are moving to the country, they say the most ignorant things. Truly ignorant: ‘Are you gonna be a farmer?’. ‘What are you going to do with all that land?’. ‘It’s too quiet in the country. I need the sound of traffic’. I used to question myself and my motives, even within the past year. With all of the outside opinions being completely contrary to my goals, I was letting the peer pressure get to me. I am human. After January, my focus reemerged and I have been getting up every single morning thanking God for bringing me here, providing me with what I need, my good health and all else around me.

I did watch the video linked above and you know what common element all of the 15 problems have? They all happen in CITIES. Even in the destruction of Germany at the end of WWII, the Bavarian Alps saw very little impact of nearly 6 years of war. If you had a farm there, which was the norm, you provided for yourself just fine.

Planet of the Humans | Full Documentary

Planet of the Humans is a 2019 American environmental documentary film that was written, directed and produced by Jeff Gibbs.

The central thesis of the film is the claim that various people and organizations in the United States claiming to promote Green energy have actually been promoting biomass energy, largely meaning burning trees instead of fossil fuels, which is neither carbon neutral, renewable, nor sustainable. The film also claim that wind power and solar power don’t fare much better than biomass once all their inputs from fossil fuels are taken into account. Jeff Gibbs has said that the film is designed to prompt discussion and debate beyond the narrow issue of climate change and look at the overall human impact on the environment, including issues such as the contemporary extinction crisis in which half of all wildlife has disappeared in the last 40 years, and whether green technology can solve these issues.

Japan Is Exploring How To Get Away With Dumping 1.1 Million Tons Of Radioactive Water From Fukushima Into Pacific Ocean

They’re running out of space to store radioactive water.

South Korea has fired off a letter to the International Atomic Energy Agency (IAEA) to express concerns over a Japanese plan to release radioactive water into the ocean which has been collected since the 2011 nuclear disaster, according to NHK

An official of South Korea’s science ministry said on Thursday said that the letter expresses the country’s serious concerns about the environment impact of such a release. The official also said South Korea asked the international nuclear watchdog to play a more active role on the issue. –NHK

Tokyo Electric Power Company (TEPCO), which operates the plant, is storing over 1.12 million tons of radioactive water on site, which is slated to reach capacity in 2022. The contaminated water has been treated using a system known as ALPS (multi-nuclide removal system), which removes 62 types of radioactive elements – not including tritium, before being stored stored in massive tanks on the Fukushima Daiichi grounds. 

The plan to release diluted wastewater into the ocean is one of several measures being discussed by an expert panel as possible ways to deal with the problem. Adding storage tanks is another option – which would kick the can down the road. 

the Japanese government is pushing to have the water released into the sea. But based on an investigation of 890,000 tons of Fukushima Daiichi water that had undergone ALPS purification (950,000 tons total), TEPCO announced in September 2018 that 750,000 tons – more than 80% – still included radioactive material above emission standards. Fukushima-area fishers continue to oppose the release of Fukushima Daiichi water in the ocean on that basis, and the Japanese government has yet to proceed with the discharge. –Hankyoreh.kr

On Wednesday, the Japanese government announced that it had invited foreign diplomats to its Foreign Ministry in Tokyo for a briefing on the situation – the 103rd such meeting, yet the first one ever announced. 

“Since the start [of the briefings], we have continued to provide information to diplomats in Tokyo about conditions at the Fukushima Daiichi Nuclear Power Plant since the East Japan earthquake,” said the ministry.

Source: ZeroHedge

Trump Scraps Obama-Era Rules For Energy Efficient Bulbs

President Trump’s administration has scrapped a rule that would have phased out incandescent bulbs.

A new rule was issued on Wednesday reversing a requirement, enacted during Barack Obama’s presidency, for all new light bulbs to be energy-efficient by 2020.

The Energy Department said that the rule change “will ensure that the choice of how to light homes and businesses is left to the American people, not the federal government”

The move, welcomed by industry has been strongly criticized by climate change groups. The move is also in line with Donald Trumps 2012 warnings about the dangers of so called “environmentally friendly” light bulbs.

Press TV reports: The rollback represents the latest in the US president’s running battle since taking office against nearly all forms of environmental regulation, coming shortly after his administration axed rules limiting leaks of the greenhouse gas methane and after weakening a key wildlife protection law.

Incandescent light bulbs, which were invented by Thomas Edison in 1878 and lose 90 percent of their energy to heat, have been on the decline since a 2007 law that mandated phased-in energy efficiency targets they could not meet.

LED bulbs, which use 20 to 25 percent of the energy of their traditional pear-shaped counterparts and last 10-25 times longer, now have the bulk of the market share.

Though they cost slightly more ($2.50 compared to $1.50 in a multi-pack) they make up for this in saved energy costs of $50 to $150 over their lifetime.

Halogen bulbs, a slightly more efficient version of traditional incandescents, represent about a quarter of the market according to the Association of Electrical Equipment and Medical Imaging Manufacturers (NEMA).

On former president Barack Obama’s final day in office, his administration updated definitions under the 2007 law to include items like track lighting, candle-shaped bulbs used in chandeliers, and round globe bulbs used in bathrooms, with this final phase out set to occur by January 1, 2020.

The Trump administration has now deleted this update, arguing it was not in line with Congress’s original legislative intent and would place an extra cost burden on consumers and businesses.

“This action will ensure that the choice of how to light homes and businesses is left to the American people, not the federal government,” the Department of Energy said in a statement welcomed by NEMA, which agreed that the Obama administration had misconstrued the statute.

But the announcement was slammed by environmental groups including the Natural Resources Defense Council, which called the move illegal because it violated “anti-backsliding” provisions that prevent the energy department from weakening standards.

Source: by Niamh Harris | News Punch

Radioactive ‘Nuclear Coffin’ May Be Leaking Into The Pacific

UN Secretary General Antonio Guterres has sounded the alarm over a giant concrete dome built 40 years ago in the Marshall Islands to contain radioactive waste from Cold War-era atomic tests.

https://www.zerohedge.com/s3/files/inline-images/runit%20dome.jpg?itok=X9EZA_L3

Runit Dome

According to Guterres, the dome – which houses approximately 73,000 cubic meters of debris on Runit island, part of the Enewetak Atoll – may be leaking radioactive material into the Pacific Ocean, as the porous ground underneath the 18″ thick dome was never lined as originally planned. It was constructed in the crater formed by the 18-kt Cactus test.

“The Pacific was victimised in the past as we all know,” Guterres told students in the island nation of Figi while on a tour of the South Pacific. “I’ve just been with the President of the Marshall Islands (Hilda Heine), who is very worried because there is a risk of leaking of radioactive materials that are contained in a kind of coffin in the area.” 

https://www.zerohedge.com/s3/files/inline-images/doe%20%20cap.png?itok=thNGhge0

Residents of the Islands were relocated from their ancestral lands shortly after the United States began what would become 67 nuclear weapons tests from 1946 – 1958 at Bikini and Enewetak atolls. Despite US efforts to move people to safety, thousands of islanders were exposed to radioactive fallout from above-ground tests conducted before a moratorium was enacted in 1958.

The tests included the 15 Megaton Castle Bravo on the Bikini Atoll, which was detonated on March 1, 1954. It was the most powerful ever detonated by the United States – and around 1,000 times bigger than the bomb dropped on Hiroshima just nine years before.

The effort to clean up the region in the 1970s included approximately 4,000 US servicemen in what was known as the Enewetak Radiological Support Project.

https://www.zerohedge.com/s3/files/inline-images/soldiers%20digging.jpg?itok=pzCwxYUr

Cracks are visible in the dome’s surface, and the sea sometimes washes over its surface during storms, according to ABC.

https://www.zerohedge.com/s3/files/inline-images/view%20from%20top.png?itok=siw8P2CP

“The United States Government has acknowledged that a major typhoon could break it apart and cause all of the radiation in it to disperse,” said Columbia University’s Michael Gerrard.

That said, a 2013 DoE report found that the soil outside of the dome is more contaminated than its contents – as the 1970s cleaning operation only removed an estimated 0.8 percent of the total nuclear waste in Enewetak atoll.

Guterres did not propose a solution, however he said that “a lot needs to be done in relation to the explosions that took place in French Polynesia and the Marshall Islands,” adding “This is in relation to the health consequences, the impact on communities and other aspects.”

And of course, reparations; “there are questions of compensation and mechanisms to allow these impacts to be minimised,” Guterres added.

Source: ZeroHedge

 

Cyberattacks, Solar Storms, & EMP Weapons: US Power Grid Extremely Vulnerable, Extended Blackout Is Inevitable

A lot of Americans are mocking Venezuela right now, but the truth is that what has happened to them could also happen to us very easily. 

https://www.zerohedge.com/s3/files/inline-images/Apocalyptic-Cityscape-2-Public-Domain.jpg?itok=uICSPGTB

(Michael Snyder) As you will see below, DARPA is so concerned about the possibility of a cyberattack taking down our power grid that they held an extended exercise recreating such a scenario late last year.  And even though scientists tell us that it is inevitable that a “solar tsunami” will absolutely devastate our power grid at some point, our leaders on the federal level refuse to spend the money that it would take to protect our basic electrical infrastructure.  In addition, Russia, China, North Korea and others have developed extremely advanced EMP weapons, and we have absolutely no protection against them.  One way or another, an extended blackout will eventually happen in the United States, and so we should try to learn some lessons from what is going on in Venezuela right now.

And without a doubt, life is hell in Venezuela at this moment.  The following comes from NPR

Signs of the crisis are everywhere you look in the Venezuelan capital. “Drive around Caracas, and you see long lines of cars waiting for hours at the few gas stations still operational,” NPR’s Philip Reeves reported from the city.

“Motorists park on highways, cell phones aloft, searching for a signal. The rich have taken refuge in luxury hotels. The poor stand in lines in the street,” Reeves added.

The power outage has affected water pumps in some Caracas neighborhoods, meaning that people are waiting to fill water bottles at public locations such as springs.

As food supplies run out, people are becoming increasingly desperate, and desperate people do desperate things.

Hundreds of stores are being looted, and the overwhelmed police are instructing store owners to fend for themselves

Looters smashed shop windows and made off with merchandise in more than 300 businesses across the state along the border with Colombia, the Zulia chapter of business organization Fedecamaras said in a statement.

“About 100 people came into the store and took all the food, the point of sale terminals,” said Maria Centeno, 29, the owner of a store selling food and furniture that was looted on Sunday. “They were people from the community. The police came by and they told me to sort it out myself.”

Of even greater concern is the fact that many people are dying from a lack of medical care.

Without power, there is little that the doctors are able to do, and one mother was forced to actually carry the body of her dead daughter through the streets to a morgue after the local hospital was unable to help her

A severely malnourished 19-year-old girl died in her mother’s arms after doctors in Venezuela were forced to turn her away because a massive blackout shut down a hospital.

Heartbroken mother Elizabeth Díaz was forced to carry her daughter’s body, which weighed just 22 pounds, through the streets to a morgue.

A lot of Americans are mocking what is going on in Venezuela, but the truth is that the exact same thing could happen here too.

Many believe that the extended blackout in Venezuela was caused by a cyberattack, and unfortunately the truth is that the U.S. power grid is also quite vulnerable if someone decided to attack us in the same manner.

Last November, DARPA held a seven day exercise that simulated what would happen if a massive cyberattack suddenly took down our grid…

The Defense Advanced Research Projects Agency exercise, which took place from Nov. 1 to Nov. 7, was fictional, but it was designed to mimic all the hurdles and uncertainty of a real-world cyberattack that took out power across the nation for weeks on end–a scenario known as a “black start.”

To add realism, the exercise took place on Plum Island, a federal research facility off the north fork of Long Island, where DARPA researchers were able to segregate a portion of the island on its own electric grid.

Over the course of the seven-day exercise, more than 100 people gathered on the island, filling every necessary role to mimic an actual black start.

Of course that is not the only way our power grid could go down for an extended period.

Our sun is capable of producing a “solar tsunami” that could absolutely cripple our electrical grid at any time.  Earlier this week, I came across an article about a gigantic solar tsunami that hit out planet approximately 2,700 years ago

Roughly 2,700 years ago, an unusually powerful solar storm swept past the Earth, scientists announced in a new study. Though it had little to no impact on people in that long ago, pre-industrial and pre-technological world, such an event today would cause widespread power outages along with potentially disastrous communication and navigation failures.

The solar storm in 660 B.C. was about 10 times stronger than any known event in the past 70 years, study lead author Raimund Muscheler said.

But we don’t have to go back that far to find the kind of solar storm that I am talking about.

In 1859, an absolutely enormous solar storm known as “the Carrington Event” hit the United States…

The solar storm of 1859 (also known as the Carrington Event)[1] was a powerful geomagnetic storm during solar cycle 10 (1855–1867). A solar coronal mass ejection (CME) hit Earth’s magnetosphere and induced one of the largest geomagnetic storms on record, September 1–2, 1859. The associated “white light flare” in the solar photosphere was observed and recorded by British astronomers Richard C. Carrington (1826–1875) and Richard Hodgson (1804–1872). The now-standard unique IAU identifier for this flare is SOL1859-09-01.

A solar storm of this magnitude occurring today would cause widespread electrical disruptions, blackouts and damage due to extended outages of the electrical grid.[2][3] The solar storm of 2012 was of similar magnitude, but it passed Earth’s orbit without striking the planet, missing by nine days.[4]

If such a storm hit us right now, electronic devices would be fried from coast to coast and the power grid would be down for the foreseeable future.  Life would dramatically change for all of us, and chaos would be unleashed all across this nation.

This is just one of the reasons why I so strongly encourage people to get prepared, because our government is most definitely not preparing for this kind of threat.

Lastly, I want to also mention that Russia, China and North Korea have been developing highly sophisticated “Super-EMP weapons” that we have no defense for.  The following is from the Washington Free Beacon

Several nations, including China and Russia, are building powerful nuclear bombs designed to produce super-electromagnetic pulse (EMP) waves capable of devastating all electronics—from computers to electric grids—for hundreds of miles, according to a newly-released congressional study.

A report by the now-defunct Commission to Assess the Threat to the United States from EMP Attack, for the first time reveals details on how nuclear EMP weapons are integrated into the military doctrines of China, Russia, North Korea, and Iran.

For much more on the threat that we are facing, please see my previous article entitled “Amerigeddon: Are You Ready For The Chaos That Will Ensue When The Power Grid Is Brought Down?”

Sadly, most Americans do not understand how vulnerable we are, and when the power suddenly goes out someday they will have no idea what is happening.

So keep a close eye on Venezuela right now, because the exact same things that are happening there will eventually happen here too.

It is just a matter of time.

Source: ZeroHedge

A Major Shift From West To East Is Occurring As The Dollar Dies. Are You Prepared?

Americans need to shake off their FUD (fear, uncertainty and doubt) and start taking real steps to protect their wealth before the $USD is no longer the world’s dominant reserve currency. This involves converting USD denominated paper assets into physical Gold, Silver and a little Cryptocurrency to preserve your purchasing power … before the multi-polar world of tomorrow arrives.  

A big part of life on the other side of this event will involve dealing with wide spread shortages (including food) that accompany the high cost of imported goods that follow a credit and currency collapse, until America’s domestic manufacturing base can be brought back up. Think decades, not months or years to fully recover. This means you should be accumulating resources necessary to more easily stretch through this period while they are relatively cheap and plentiful in today’s dollars. Otherwise, you might find yourself living like the 99% are in Venezuela today.  

Enjoy the show …

 

Obama-Backed Solar Plant Could Be Shut Down For Not Producing Enough Energy

https://s14-eu5.ixquick.com/cgi-bin/serveimage?url=http%3A%2F%2Fwww.enerblog.it%2Fwp-content%2Fuploads%2FIvanpah_solar_power_plant.jpg&sp=aa9b38b711dd1754c898e7e8a371a896

California regulators may force a massive solar thermal power plant in the Mojave Desert to shut down after years of under-producing electricity — not to mention the plant was blinding pilots flying over the area and incinerating birds.

The Ivanpah solar plant could be shut down if state regulators don’t give it more time to meet electricity production promises it made as part of its power purchase agreements with utilities, according to The Wall Street Journal.

Ivanpah, which got a $1.6 billion loan guarantee from the Obama administration, only produced a fraction of the power state regulators expected it would. The plant only generated 45 percent of expected power in 2014 and only 68 percent in 2015, according to government data.

And it does all this at a cost of $200 per megawatt hour — nearly six times the cost of electricity from natural gas-fired power plants. Interestingly enough, Ivanpah uses natural gas to supplement its solar production.

These disappointing results at high prices could be the solar plant’s undoing. California Energy Commission regulators hoped the plant would help the state get 33 percent of its electricity from green sources, but now the plant could be shut down for not meeting its production promises.

https://s15-us2.ixquick.com/cgi-bin/serveimage?url=http%3A%2F%2Fi2.wp.com%2Fgreenglobaltravel.com%2Fwp-content%2Fuploads%2FHeliostat-reflection1.jpg%3Fresize%3D648%252C432&sp=edb97738544be0dcbab5b2597e474a18

Ivanpah — which is owned by BrightSource Energy, NRG Energy and Google — uses more than 170,000 large mirrors, or heliostats, to reflect sunlight towards water boilers set atop 450-foot towers that create steam to turn giant turbines and generate electricity.

The plant was financed by $1.6 billion in loan guarantees from the Department of Energy in 2011. When the solar plant opened in 2014, it was hailed as a great achievement by Energy Secretary Ernest Moniz.

“This project speaks for itself,” Moniz said when the project went online in early 2014. “Just look at the 170,000 shining heliostat mirrors and the three towers that would dwarf the Statue of Liberty.”

“Ivanpah is the largest solar thermal energy facility in the world with 392 MW of capacity — meaning it can produce enough renewable electricity to power nearly 100,000 homes,” Moniz said.

Moniz’s optimism aside, the project faced huge problems from the beginning. NRG Energy asked the federal government for a $539 million federal grant to help pay off the $1.6 billion loan it got from the Energy Department.

NRG Energy said the plant had only produced about one-quarter of its expected output in the months after it opened. The company needed an infusion of cash to help keep the project afloat.

https://s17-us2.ixquick.com/cgi-bin/serveimage?url=http%3A%2F%2Fwww.odditycentral.com%2Fwp-content%2Fuploads%2F2014%2F02%2FIvanpah-solar-energy.jpg&sp=ce04e2763219c57267166f121fff405d

That was only the beginning of the company’s problems. Environmentalists quickly attacked the project for killing thousands of birds since it opened. Many birds were incinerated by the intense heat being reflected off Ivanpah’s heliostats.

The Associated Press cited statistics presented by environmentalists in 2014 that “about a thousand… to 28,000” birds are incinerated by Ivanpah’s heliostats every year.

“Forensic Lab staff observed a falcon or falcon-like bird with a plume of smoke arising from the tail as it passed through the flux field,” according to a U.S. Fish and Wildlife Service report from 2014.

“Immediately after encountering the flux, the bird exhibited a controlled loss of stability and altitude but was able to cross the perimeter fence before landing,” FWS reported.

Pilots have also reported seeing a “nearly blinding” glare emanating from Ivanpah while flying over the solar plant. The Sandia National Laboratory reported in 2014 Ivanpah was “sufficient to cause significant ocular impact (potential for after-image) up to a distance of ~6 miles.”

“At distances greater than ~6 miles (10 km), a low potential for after-image exists from the heliostat glare as a result of the reduced retinal irradiance and subtended angles,” Sandia reported. “It should be noted that two of the authors who were in the helicopter qualitatively confirmed these results after observing the glare. The pilot acknowledged that the glare was very bright, but he also stated that it did not impair his flying ability since he was aware of the glare and avoided looking in that direction when flying over [Ivanpah].”

Update: California regulators announced Thursday that Ivanpah would have until the end of July to produce more power or face shut down. 

Scenes From The Venezuela Apocalypse: “Countless Wounded” After 5,000 Loot Supermarket Looking For Food

Over the last several years we have documented with clockwork regularity Venezuela’s collapse into failed state status, which was cemented several weeks ago when news hit that “Venezuela had officially run out of money to print new money.”  At that point the best one could do was merely to step back and watch as local society and civilization turned on itself, unleashing what would ultimately turn into Venezuela’s own, sad apocalypse.

Last night we showed what Caracas, looks like this week:

As we wrote then these are simply hungry Venezuelans protesting that their children are dying from lack of food and medicine and that they do not have enough water or electricity. As AgainstCronyCapitalism added, this is a country with more oil than Saudi Arabia, and the government has stolen all the money and now they bottleneck peaceful protesters and threaten them with bombs (or haul them to prison and torture them).

As pure desperation has set in, crime has becomes inevitable. A man accused of mugging people in the streets of Caracas was surrounded by a mob of onlookers, beaten and set on fire, who published a pixeled-out but still graphic video of the man burning as mob justice is now the supreme arbiter of who lives and who dies:

“Roberto Fuentes Bernal, 42, was reportedly caught trying to mug passersby in the Venezuelan capital, and before police arrived at the scene, the crowd took the law into their own hands.” The video can be seen here.

Now, in the latest shocking development, Venezuela saw a new wave of looting this week that resulted in at least two deaths, countless wounded, and millions of dollars in losses and damages.

According to Panampost, on Wednesday morning, a crowd sacked the Maracay Wholesale Market in the central region of Venezuela.  According to the testimonies of merchants, the endless food lines that Venezuelans have been enduring to do groceries could not be organized that day.

As time went by, desperate Venezuelans grew anxious over not being able to buy food. Then they started jumping over the gates and stormed the supermarket.

“They took milk, pasta, flour, oil, and milk powder. There were 5,000 people” one witness told Venezuela outlet El Estímulo.

People from across the entire state came to the supermarket because there were rumors that some products not found anywhere else would be sold there.

As a result of the massive crowd, the authorities were unable to preserve the peace. “There were 250 people for each National Guard officer… lots of people and few soldiers. At least one officer was beat up because he tried to stop the crowd,” another source told El Estímulo.

Other food dispensaries run by the government were also looted by the people.

Far from the promised socialist paradise, as the massive group of people moved, an entrance gate collapsed under the weight of the crowd, leaving several wounded.

The image below shows a human stampede over rice.

Over the last two weeks, several provinces have hosted scenes of looting in pharmacies, shopping malls, supermarkets, and food delivery trucks. In several markets, shouts of “we are hungry!” echoed. On April 27, the Venezuelan Chamber of Food (Cavidea) reported that the country’s food producers only had 15 days left of inventory.

PanamPost adds that lootings are becoming an increasingly common occurrence in Venezuela, as the country’s food shortage resulted in yet another reported incident of violence in a supermarket — this time in the Luvebras Automarket located in the La Florida Province of Caracas.

Venezuelans lost control this week when offered small portions

Videos posted to social media showed desperate people falling over each other trying to get bags of rice. One user claimed the looting occurred because it is difficult to get cereal, and so people “broke down the doors and damaged infrastructure.”

In the central province of Carabobo, residents ransacked a corn warehouse located in the coastal city of Puerto Cabello. They reportedly broke down the gate because workers were giving away small portions.

“There’s no rice, no pasta, no flour,” resident Glerimar Yohan told La Costa, “only hunger.”

* * *

Social Collapse Is Inevitable

With the economy dead, the only thing remaining is to watch as society implodes. To that end, Oscar Meza, Director of the Documentation Center for Social Analysis (Cendas-FVM), said that measurements of scarcity and inflation in May are going to be the worst to date. “We are officially declaring May as the month that [widespread] hunger began in Venezuela,” he told Web Noticias Venezuela. … “As for March, there was an increase in yearly prices due to inflation — a 582.9 percent increase for food, while the level of scarcity of basic products remains at 41.37 percent.”


“We are officially declaring May as the month that hunger began
in Venezuela,” says an NGO that measures inflation and scarcity

Meza said the trigger for the crisis is the shortage of bread and other foods derived from wheat.

“Prices are so high that you can’t buy anything, so people don’t buy bread, they don’t buy flour. You get porridge, you see the price of chicken go up and families struggle … lunch is around 1,500 bolivars… People used to take food from home to work, but now you can’t anymore because you don’t have food at home.”

The is why, Español Ramón Muchacho, Mayor of Chacao in Caracas, said the streets of the capital of Venezuela are filled with people killing animals for food. “Muchacho reported that in Venezuela, it is a “painful reality” that people “hunt cats, dogs and pigeons” to ease their hunger.”

Subsquently, Muchacho warned that Caribbean islands and Colombia may suffer an influx of refugees from Venezuela if food shortages continue in the country.

“As hunger deepens, we could see more Venezuelans fleeing by land or sea to an island,” Muchacho said.

And that is how all socialist utopias always end.

* * *

Meanwhile, as civil war appears inevitable, as previously reported there are factions vying to oust Maduro, although we are confident the dictator will hang on for dear life (literally) and force his population to endure more of this socialist nightmare. One can only hope that these shocking scenes remain relegated to the streets of offshore socialist paradises, although Americans should always prepare for the worst in case they eventually manage to make their way into the country.

Source: ZeroHedge


Is A Venezuela Coup Imminent? An Interview With A National Guardsman

Following several very disturbing stories about the start of Venezuela’s social apocalypse, in the first case chronicling “Streets Filled With People Killing Animals For Food” and then last night documenting “Countless Wounded” After 5,000 Loot Supermarket Looking For Food, we concluded that “as civil war appears inevitable, as there are factions vying to oust Maduro, although we are confident the dictator will hang on for dear life (literally) and force his population to endure more of this socialist nightmare.”

Today, now that speculation about a coup and/or civil war is becoming ever louder, we address some of these concerns courtesy of a must-read interview with a member of Bolivarian National Guard, the country’s national guardsmen, conducted by PanAm Post, which provides a critical blueprint of the next very tragic steps in Venezuela, which unfortunately now appear certainly to conclude with a national coup.

From PanAm Post:

Venezuela Is on the Brink of Social Collapse” National Guardsman

Food Shortages Cause Daily Looting, Energy Crisis Worsens as National State of Emergency Approaches

At the moment, the armed forces’ position vis-à-vis the government is not clear. Some speculate that the Bolivarian National Guard is divided. Others claim that the regime exerts full control over the Bolivarian National Guard’s members. The only certainty is that uncertainty abounds.

The PanAm Post had the opportunity to interview a Bolivarian National Guard member of middle rank, who asked to remain anonymous since his views could expose him to danger.

Why has the state launched an offensive against criminal groups?

The situation was getting out of hand for political reasons. The state has no means to control criminal groups. The country’s jails are in chaos. The streets themselves are in chaos. The state’s security personnel are unarmed.

The Maduro regime created the Organization for the Protection and Liberation for the People (OLP) to fight organized crime. Has that organization committed illegal acts as well?

From a legal standpoint, yes. Now from the point of view of the general population, no, because they tolerate harsh methods against the criminal bands.

But do they only kill criminals?

In the majority of cases.

Is the OLP really carrying out its operations strictly to end gang violence?

That is their main purpose. But there is also a political element. The OLP’s creation was a desperate measure. The government had given liberty to the gangs to do what they please. They armed them and now they are attacking them.

Is the OLP at war with gangs and with government officials at the same time?

Yes, because they can’t control them. They have become too powerful. They are armed and they teach military strategy. These criminals used to fight against each other. Now they have a truce between them and they fight the military and other security forces. They say, “as long as we kill them, we’ll survive.”

Does the state benefit by arming gangs? What is the regime trying to achieve?

Their goal is to have armed groups on their side in case of political turmoil. That is the final goal. Disarmament laws only affect innocent people. Criminal have many more weapons than we do at the National Guard. They also have much more power. We can’t control that now. Any solution will come too late.

The economic crisis and the public health crisis are becoming uncontrollable. The security forces are competent, but the government had to realize that the criminals were killing us all before they acted against them.

How corrupt is is the National Guard?

There is corruption in the National Guard, and there always has been. The difference is that, before, the system was more efficient. The National Guard decayed when it became political. Since we started to vote and to take part in the country’s political life, there has been no peace in the ranks.

Now there is pressure on us because we have to follow the constitution, but we also have to be loyal to our higher officers even when their orders don’t correspond to the laws. If their orders contradict the laws, you can’t follow them. So there is a rift between the security forces and the other institutions.

The government has an apparatus for persecution and espionage, so you can’t make negative statements about functionaries. The security services themselves are plagued by informants. You have to watch your every word.

All of those military upheavals denouncing the government, those attempts to overthrow the government — are they real?

No, the majority are false. There won’t be any coup attempts in Venezuela.

Why not?

Right now, all elements of the armed forces are under control. A coup-d’état takes place when you reach a breaking point and someone in the higher echelons of the armed forces decides that it’s time to act against the government. Right now in Venezuela, there are political divisions within the armed forces. There is neither the necessary unity nor the necessary organization for a coup to take place. Besides, officers fear the government’s informants. Everyone is on guard.

What will result from the current discontent?

The army and the National Guard are waiting. I can assure you that we are quite unhappy. But there is an entire structure above us, so it’s not easy to act. We receive criticism from all sides. Wherever I go, I come face to face with civilians’ displeasure and complaints. I also think the opposition has failed to take advantage of its opportunities to topple the government.

How so?

For example, when they won the parliamentary elections last December, the atmosphere was tense. The entire leadership knew what would happen. So did we. Former Speaker of the House Diosdado Cabello was willing to take the armed forces to the street against the opposition, but Padrino López, the Minister of Defense, didn’t allow him to do so.

What happened exactly on December 6?

The stories are true. That day there was a strong discussion between Padrino López and Cabello. López told Cabello that, if he ordered the troops to take the streets, he was going to have the army kill him.

But did Padrino López only do it to save his own skin?

Of course. He would have been responsible if the army started to massacre people. López was not going to allow that to happen. So that day the army was ordered to guard the opposition.

On whose side does Padrino López find himself? That day, a rumor got out that he was defending Chávez’s revolution.

Padrino López is intelligent, and I don’t doubt that he’s a chavista. But all branches of the armed forces are dissatisfied with the current situation. Imagine if one day they let Diosdado Cabello commit a massacre. If something like that occurs, the army will support President Maduro.

And what has the Bolivarian National Guard done during the recent demonstrations? Why has the army remained silent?

Those are two different situations. Like I said, government intelligence is an obstacle to action. The risk of not obeying orders is very large, but there is a lot of discontent and resentment due to the measures carried out by the Bolivarian National Guard and other officials.

If discontent is so widespread, why is there no talk of a coup?

That’s already been discussed. The coup d’état, we hope, will not be repeated. We remember what happened in 2002 with Chávez and we don’t want something similar to happen in the future.

We are rather waiting for things to get truly out of hand. And that will happen in the following months. The situation is extremely unstable and the status quo can’t last. We are witnessing daily looting at supermarkets, and people are protesting.

The crisis at Guri Dam (Venezuela’s most important hydroelectric power station) will get worse. Everything will get worse and there will be an implosion.

At that moment, the country’s future will be determined. I don’t believe there’s much time left.

Are you sure that something drastic will happen soon?

Without a doubt. The Bolivarian National Guard has already discussed the matter.

The situation in Venezuela has never been as bad as it is now. The breaking point is near, but still not at hand. My recommendation is for people to prepare, to look for food and then to store it. Obviously, when the implosion occurs , it won’t last long. I believe it will last something like 10 days, but they will be difficult days.

There will be a state of emergency, and that will bring the crisis to an end.

What will happen with the recall referendum that the opposition is trying to unleash against President Maduro?

That’s not a serious option. The regime has demonstrated that it can violate the constitution without second thoughts. They are going to accept the referendum, but only if they know they can win with any method available. The situation will only come to a head when hunger and the lack of electricity force people to take direct action.

So are the Armed Forces ready for a social catastrophe to take place?

We are really willing to intervene if the country undergoes a social catastrophe. It’s as if we have water in a pot and it begins to boil very slowly. There will be a moment when, if the gas is not turned off, the water begins to overflow and disaster ensues.

Source: ZeroHedge

No End In Site For Bulk Shipping’s Perfect Economic Storm

https://i0.wp.com/maritime-executive.com/media/images/article/Photos/Vessels_Large/Cropped/Storm_bulker_rogue_wave2_16x9.jpg

Off the coast of a nearly deserted island below the southern tip of Hong Kong, at least 10 massive ships that normally carry hundreds of thousands of tons of coal or iron ore lie idle near one of the world’s busiest sea routes.

These empty vessels paint a grim picture for the dry bulk shipping business that veterans of the industry say is grappling with an unprecedented crisis of too many ships and not enough cargoes. The hollow boats underscore the global economic doldrums that policymakers are struggling to overcome.

“This is the worst we have seen in recent times. We have been hit by a perfect storm – huge order books, China slowdown, the end of quantitative easing, lurking European monetary crisis, glut in oil and commodity prices,” said Kaushik Neogy, a commercial manager at Wallem Commercial Services in Hong Kong.

Shipping is a cyclical business that is often at the mercy of the ebbs and flows of the global economy. However, the dry bulk sector has been dashed upon the rocks of vessel oversupply and slowing economic growth.

The industry has suffered from large capital inflows from private equity players who invested in ships in a bet on sustained demand from emerging markets, particularly China. Instead, the world’s second-largest economy is growing at its slowest pace in 25 years, reducing the need for the coal and iron ore that fuels its manufacturing sector.

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, has lost about 98 percent of its value from a peak of 11,793 points in May 2008, marking the lowest level since records began in 1985.

“This is pretty much the worst I have seen in my career,” said Tim Huxley, chief executive officer of Hong Kong-based Wah Kwong Maritime Transport Holdings, who has been in the business for over 30 years. “For the bulk carrier industry, this is going to be a grim year and next year is not going to be any better.”

At the height of the market, dry bulk vessels could command daily fees of about $185,000 but that has dropped to about $4,000 to $6,000 a day now.

With operating costs for dry bulk ships at about $5,500 to $7,500 per day, depending on the size of the vessel, the global commodities meltdown has made it hard for many operators to cover costs.

CHINA IMPORTS DROPPING

Vessel rates are unlikely to recover soon especially as China’s voracious appetite for coal and iron ore slows.

Coal imports to China may drop eight percent this year to 152.1 million tons, according a forecast from shipping services firm Clarkson. Shipments of coal, both for power generation and steel making, have plunged since 2013 when they reached 264.9 million tons.

China’s monthly iron ore imports peaked at a record 96.27 million tons last December but then dropped 14.6 percent to 82.19 million tons in January this year, data from the General Administration of Customs showed.

The decline suggests annual imports may have peaked in 2015 at 952 million tons as production at China’s steel mills has slowed. In contrast, India imported just 15 million tons in 2015.

There are no signs of an economic pick-up any time soon. Last month, the International Monetary Fund cut its global growth forecasts for the third time in less than a year to 3.4 percent, while money managers in a Bank of America Merrill Lynch survey this week said a U.S. recession is the biggest unlikely risk they are worried about.

While demand for bulk shipping has slumped, supply has scarcely blinked. Clarkson calculate the total global fleet capacity at 1.81 billion deadweight tons with a further 300 million tons of capacity coming on line over the next three to four years, the result of a hangover of the boom years when shipping was profitable.

Wah Kwong’s Huxley believes the industry is losing up to $20 billion a year in operating costs. The losses are pushing smaller companies such as Oslo-headquartered Western Bulk to sell parts of their business while others take the merger route to create giants to grab market share.

China’s government drove the merger of former rivals China Ocean Shipping (Group) Company and China Shipping Group to create China Cosco Shipping Corporation (COSCOCS). At an event in Shanghai on Thursday, Xu Lirong, the chairman of the newly formed company, acknowledged this is the most difficult period the shipping industry is experiencing since the financial crisis.

“The merger is crucial to the development of both companies,” said Xu.

by Reuters in The Maritime Executive

Russia Just Pulled Itself Out Of The Petrodollar (video)

Back in November, before most grasped just how serious the collapse in crude was (and would become, as well as its massive implications), we wrote “How The Petrodollar Quietly Died, And Nobody Noticed“, because for the first time in almost two decades, energy-exporting countries would pull their “petrodollars” out of world markets in 2015. 

This empirical death of Petrodollar followed years of windfalls for oil exporters such as Russia, Angola, Saudi Arabia and Nigeria. Much of that money found its way into financial markets, helping to boost asset prices and keep the cost of borrowing down, through so-called petrodollar recycling.

We added that in 2014 “the oil producers will effectively import capital amounting to $7.6 billion. By comparison, they exported $60 billion in 2013 and $248 billion in 2012, according to the following graphic based on BNP Paribas calculations.”

https://i0.wp.com/www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/11/petrodollar%20chart.png

The problem was compounded by its own positive feedback loop: as the last few weeks vividly demonstrated, plunging oil would lead to a further liquidation in foreign  reserves for the oil exporters who rushed to preserve their currencies, leading to even greater drops in oil as the viable producers rushed to pump out as much crude out of the ground as possible in a scramble to put the weakest producers out of business, and to crush marginal production. Call it Game Theory gone mad and on steroids.

Ironically, when the price of crude started its self-reinforcing plunge, such a death would happen whether the petrodollar participants wanted it, or, as the case may be, were dragged into the abattoir kicking and screaming.

It is the latter that seems to have taken place with the one country that many though initially would do everything in its power to have an amicable departure from the Petrodollar and yet whose divorce from the USD has quickly become a very messy affair, with lots of screaming and the occasional artillery shell.

As Bloomberg reports Russia may unseal its $88 billion Reserve Fund and convert some of its foreign-currency holdings into rubles, the latest government effort to prop up an economy veering into its worst slump since 2009.”

These are dollars which Russia would have otherwise recycled into US denominated assets. Instead, Russia will purchase even more Rubles and use the proceeds for FX and economic stabilization purposes. 

“Together with the central bank, we are selling a part of our foreign-currency reserves,” Finance Minister Anton Siluanov said in Moscow today. “We’ll get rubles and place them in deposits for banks, giving liquidity to the economy.

Call it less than amicable divorce, call it what you will: what it is, is Russia violently leaving the ranks of countries that exchange crude for US paper.

More:

Russia may convert as much as 500 billion rubles from one of the government’s two sovereign wealth funds to support the national currency, Siluanov said, calling the ruble “undervalued.” The Finance Ministry last month started selling foreign currency remaining on the Treasury’s accounts.

The entire 500 billion rubles or part of the amount will be converted in January-February through the central bank, according to Deputy Finance Minister Alexey Moiseev. The Bank of Russia will determine the timing and method of the operation.

The ruble, the world’s second-worst performing currency last year, weakened for a fourth day, losing 1.3 percent to 66.0775 against the dollar by 3:21 p.m. in Moscow. It trimmed a drop of as much as 2 percent after Siluanov’s comments. The ruble’s continued slump this year underscores the fragility of coordinated measures by Russia’s government and central bank that steered the ruble’s rebound from a record-low intraday level of 80.10 on Dec. 16. OAO Gazprom and four other state-controlled exporters were ordered last month to cut foreign-currency holdings by March 1 to levels no higher than they were on Oct. 1. The central bank sought to make it easier for banks to access dollars and euros while raising its key rate to 17 percent, the emergency level it introduced last month to arrest the ruble collapse.

Today’s announcement “looks ruble-supportive, as together with state-driven selling from exporters it would support FX supply on the market,” Dmitry Polevoy, chief economist for Russia and the Commonwealth of Independent States at ING Groep NV in Moscow, said by e-mail. “Also, it will be helpful for banks, while there might be some negative effects related to extra money supply and risks of using some of the money on the FX market for short-term speculations.

Bloomberg’s ready summary of the US economy is generally spot on, and is to be expected when any nation finally leaves, voluntarily or otherwise, the stranglehold of a global reserve currency. What Bloomberg failed to account for is what happens to the remainder of the Petrodollar world. Here is what we said last time:

Outside from the domestic economic impact within EMs due to the downward oil price shock, we believe that the implications for financial market liquidity via the reduced recycling of petrodollars should not be underestimated. Because energy exporters do not fully invest their export receipts and effectively ‘save’ a considerable portion of their income, these surplus funds find their way back into bank deposits (fuelling the loan market) as well as into financial markets and other assets. This capital has helped fund debt among importers, helping to boost overall growth as well as other financial markets liquidity conditions.

[T]his year, we expect that incremental liquidity typically provided by such recycled flows will be markedly reduced, estimating that direct and other capital outflows from energy exporters will have declined by USD253bn YoY. Of course, these economies also receive inward capital, so on a net basis, the additional capital provided externally is much lower. This year, we expect that net capital flows will be negative for EM, representing the first net inflow of capital (USD8bn) for the first time in eighteen years. This compares with USD60bn last year, which itself was down from USD248bn in 2012. At its peak, recycled EM petro dollars amounted to USD511bn back in 2006. The declines seen since 2006 not only reflect the changed global environment, but also the propensity of underlying exporters to begin investing the money domestically rather than save. The implications for financial markets liquidity – not to mention related downward pressure on US Treasury yields – is negative.

Considering the wildly violent moves we have seen so far in the market confirming just how little liquidity is left in the market, and of course, the absolutely collapse in Treasury yields, with the 30 Year just hitting a record low, this prediction has been borne out precisely as expected.

And now, we await to see which other country will follow Russia out of the Petrodollar next, and what impact that will have not only on the world’s reserve currency, on US Treasury rates, and on the most financialized commodity as this chart demonstrates

… but on what is most important to developed world central planners everywhere: asset prices levels, and specifically what happens when the sellers emerge into what is rapidly shaping up as the most liquid market in history.

Source: Zero Hedge

Geoengineering Is The Primary Cause Of Global Climate Change, Not CO2

Nonstop Chemical Geoengineering Has Pushed the Planet into Climate Chaos

chemtrails22015 Set to be the Hottest on Record Because of the Intensified Chemtrail Operations Nationwide

Warmest December in memory was deliberately manufactured
to coincide with the historic U.N. Climate Conference in Paris  

State of the Nation

The world was warned by a military pilot member of Operation Indigo Skyfold.  “Blue Jay 1”, as he is known, revealed to the world community of nations that starting in January of 2015 the skies of the planet would see a considerable increase in the amount and intensity of chemtrail operations.

“All pilots on leave are required to report to their CO by Dec 15th for special training operations, to qualify for Indigo Phase 2 flights, expected to be initiated by January 21, 2015.”
(Source: OPERATION INDIGO SKYFOLD: The Most Secret Covert Black Operation In World History)

As indicated from the volumes of anecdotal evidence posted on the Internet, there is no question that the pilot whistle blower (Blue Jay 1) was absolutely right in his prediction.  The fact that 2015 has now gone on record as the hottest year in recorded history is also a testament to the overriding influence that chemical geoengineering has on planet Earth’s climate.  Particularly when chemical geoengineering is used in tandem with highly advanced HAARP technologies, out-of-season weather events and unseasonal climate calamities can be fabricated quite quickly and impressively.


The current global regime of chemical engineering has been intensified
considerably over the past 3 years since 2012.  Since January of 2015,
chemtrail operations have been conducted with extraordinary zeal.
Geoengineering the skies across the USA — 24/7 — has profoundly
altered the local weather patterns and normal climate trends nationwide.
2015 has seen a substantial uptick in chemtrailing operations everywhere,
as the sun rays are blocked and mold counts have increased dramatically.
The most significant consequence of this constant chemcloud cover and
acceleration of the hydrological cycle is the exacerbation of climate change.
The deliberate implementation of this worldwide climate engineering
agenda via coal ash-containing chemtrail aerosols* has greatly contributed
to every facet of Global Climate Change.


*U.S. Government Spraying Tons Of Toxic Coal Fly Ash Into Atmosphere Via Chemtrails

Certainly the folks in New York City are surprised to be gallivanting around in shorts and tees during the holiday season, as are those who live in the nation’s capital.  What is particularly curious is that no one (with societal standing) throughout these bastions of intelligentsia and political power, respectively, has made the obvious correlation between the exceedingly high temps and the practically permanent state of chemclouded skies.

chemtrails-criss-crossHow is that so?  Don’t politicians and lobbyists, research scientists and academics ever look up at the sky?

If they did, they might see something like the preceding photo.

New World Order = One World Government = CO2 ‘Management’ Regime

There is actually a very good reason why no one ever from the establishment — political or scientific — ever talks about chemtrails or chemclouds in public.  They are strictly forbidden from even mentioning such a super-secret program that undergirds the New World Order (NWO) agenda to create a One World Government.  Hence, there is never any official word issued from government or weather reporting agencies despite their high level of awareness regarding the chemtrail aerosols sprayed overhead (as in directly over their heads).  Until now!

CRACKED! Top Climate Scientist Admits to Ongoing Geoengineering

Now that the geoengineers have sufficiently ramped up their spraying programs to create continuous cloud cover over vast swaths of the United States, Canada and beyond, they have conditioned the populace to believe that this is the new normal.  You know, it’s also called climate change.  Or Global Climate Change (GCC) when they want you to believe that this is an overarching planetary climate pattern directly caused by human activity, specifically anthropogenic CO2 generation.

Well, GGC certainly is caused by humanity, except most of any climate change is being purposefully geoengineered by the geoengineers.  They (NWO globalist cabal) have conveniently forgotten to mention that because of their fixation on CO2 production, and its calculated control.  Only by fastidiously controlling carbon inputs and outputs can a “Global Carbon Control Matrix” be put into place.  Because it is CO2 which must be strictly controlled in their New World Order, they already have designed a full-blown Global CO2 ‘Management’ Regime.

One World Government Initially Emerging As Global CO2 ‘Management’ Regime

MMS

There are many reasons why they intend to bring this misguided scheme to full fruition. It has nothing to doing with being good stewards of Mother Earth and everything to do with maintaining absolute dominion over every cubic inch of the biosphere.[1]  Some are even convinced that they are intent on destroying the biosphere.  Kind of like they have waged endless wars as a means of promoting disaster capitalism.

In this way they will use the profound and pervasive environmental destruction as an explanation for creating a whole new global economy based on carbon trades.  Carbon emission trading has already become the new biz with its carbon credits and carbon taxes and everything in between.  Carbon cap-and-trade schemes also run the gamut as do other corporate approaches to offset GHG reductions.  Of course, all of these carbon tricks of the trade are merely a pretext to super-regulate every aspect of the biosphere … staring with CO2.

What follows is a quote from the historic REPORT FROM IRON MOUNTAIN which spells out their intentions with Agenda 21 and the Agenda 2030.

“GROSS POLLUTION of the environment can eventually replace the possibility of mass extinction by nuclear weapons as the principle threat to the survival of the species.”

The REPORT FROM IRON MOUNTAIN (RFIM) is distinguished for many reasons; however, the key takeaway is that the NWO cabal that commissioned it has since implemented its recommendations.  The 2030 Agenda for Sustainable Development falls under the purview of the U.N. and is a perfect manifestation of the plan to foist a One World Government (OWG) onto the world community of nations.

This has been happening incrementally over several decades just as the same ruling cabal foisted the European Union on much of that continent.  Such an overarching worldwide plan can only be executed by a new global superstructure or One World Government.  In this fashion the administration of geoengineering programs will take place at a supranational level so that citizens and nation-states no longer have a say about any facet of their weather or general environment.

In fact the TPP (Trans-Pacific Partnership) and TPIP (Transatlantic Trade and Investment Partnership) are two integral initiatives which have significantly advanced the outright globalization of all land, water bodies and courses, and other natural resources.  Although neither agreement appears to provide such powers, they are only the first step at stripping sovereign nations like the USA of their constitutional rights and liberties.  Slowly but surely the goals of the RFIM are being fulfilled in ways that are both startling and totalitarian.

climatechange49_01-1

Chemical Geoengineering and Climate Change

What they have also forgotten to share with the human race is a crucial little factoid.  That fact concerns water vapor, which is by far the most plentiful of all the greenhouse gases (GHG).  The GHG, of course, are those which have been identified as the main contributors to climate change.  They chose CO2 for obvious reasons but then curiously ignore water vapor altogether.  Here is the list of the top 4 GHG from Wikipedia in descending order of amount and contribution:

Screen Shot 2015-12-26 at 4.05.24 PM

Now consider the following excerpt about water vapor.

Water Vapor
Water vapor tops the list of greenhouse gases in the atmosphere. The earth continuously produces water vapor, which evaporates and then goes up to the atmosphere. Clouds, fog, and haze are all part of water vapor, with steam being the main fossil fuel combustion byproduct. Steam from water comprises up to 70 percent of the total greenhouse effect.
(Source: Top 5 List of Greenhouse Gases)

What is truly critical to understand is that water vapor is the number 1 greenhouse gas.  In terms of total volume and total effect which directly impact the current global climate trends, water vapor far exceeds CO2.  More importantly the actual percentage of manmade CO2, also known as anthropogenic carbon, is a fraction of what is produced by the biosphere exclusive of the human race.

This discussion ought to seriously alarm any person who is involved in the raging global warming debate.  The reason: because if there really is a scientifically established trend of rising of temperatures globally, it is due to the massive increase in water vapor which is being generated from chemical geoengineering programs via chemtrail aerosols.  This particular source of the GHG water vapor is by far the greatest. It is also the easiest to control.  All they need to do is shut down all geoengineering programs until a new baseline can be determined across the whole range of GCC contributions factors.

Nonstop Chemical Geoengineering Has Become The New Normal

The globalists who are behind this unrivaled ruse have spent billions trying to convince humanity that their (each individual’s) carbon footprint is to blame for the climate chaos. No one denies that much more CO2 is generated by an industrial civilization. However, compared to the ongoing and incessant chemtrail operations conducted around the globe, the real anthropogenic culprit would be geoengineering, not industrial operations and/or energy consumption.  Although both industry and geoengineering are responsible for spewing enormous amounts of coal fly ash into the atmosphere.

maxresdefault2

Simply put, the rain events worldwide and global cloud cover have entered a whole new league ever since chemtrailing and chembombing have become such a common sky-polluting practices. The geoengineers have pushed the edge of the envelope with their atmospheric manipulation in ways that are now having a tremendous influence on worldwide weather patterns. The longer term climatological impacts are likewise being seen and felt as never before.

Because “chemical geoengineering has become the new normal” there can only be one disastrous result.  The world community of nations has been experiencing those weather calamities for many years now.  Each country has a tale of weather woe to report no matter where they are located.  Drought now routinely alternates with deluge, as do catastrophic wind storms whip up with greater frequency.  Each season — in both the Northern and Southern Hemispheres — now brings freak weather events and unpredictable climate chaos so often that they are also the “new normal”.

Because the geoengineers are so determined to control the world’s climate, they have essentially been conducting a massive experiment with the entire biosphere.  Now that the delicate balance within Earth’s atmosphere has been upset for so many years, it is impossible to know what the climate would be like without all the artificial weather modification.  The now pervasive programs of ongoing chemtrail spraying are now so intense and unrelenting that 2016 promises to bring much more of the same climate chaos.

Hottest Year On Record Proves The Geoengineers Can Produce Global Climate Change

At the end of the day one firm conclusion will be drawn from the current geoengineering paradigm.  That any and all dramatic changes, which have been observed regarding global weather patterns, are directly attributed to the out-of-control chemical geoengineering regime that now overlays much of the planet.  That 2015 is shaping up to be the hottest year on record stands as a testament to this.

Although many refuse to admit that relentless geoengineering can in fact increase temperatures both regional and globally, this past fall and the current winter have proven the now obvious.  This deliberate manipulation of public opinion around global warming has only served to allow the geoengineers to maintain their fundamentally flawed paradigm.  In so doing they have been empowered to conduct an extremely dangerous experiment in which all of humanity now sits as does the now famous frog in his/her pot of soon-to-be-boiling hot water.

Many go so far as to deny that the glaciers have been melting at record rates all over the world. Just because they have disappeared because of geoengineering techniques doesn’t mean that it’s not happening. Soon the ambient ocean temps will be so out of whack that coastlines everywhere will be forever altered.  Since many residents of the world live near the shorelines, this development alone will continue to proceed with overwhelming effect.  Just like New York City was buffeted by Superstorm Sandy and Manila is blasted by one typhoon after another, other major megalopolises are likewise exposed to the ravages of geoengineered climate change.

0_1126e1_d2024143_orig

Planet Earth is being systematically geoengineered into a slow-motion extinction level event.

Everyone has heard by now that if you tell a BIG enough lie enough times it will eventually become accepted as the gospel truth.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
— Joseph Goebbels: On the “Big Lie”

The two biggest lies that humankind is now facing on a daily basis are as follows:

• That CO2 generation from human activity is the primary cause of global climate change

• That organized chemical geoengineering programs do not exist and that all chemtrails are really contrails

Both of these highly consequential notions are being repeatedly misrepresented by governments and the mainstream media (MSM) alike.  Likewise the entire Military-Industrial Complex and related Fortune 1000 companies completely support this covert global endeavor of weather modification and climate engineering.  In fact the U.S. military has taken the lead role first in the execution of Operation Cloverleaf[2], and later on in the implementation of Operation Indigo Skyfold.  Both highly vetted Air Force and Navy pilots are primary personnel who fly the specially retrofitted airliner which emit the coal-ash based chemtrail aerosols.

Each of them is supported by every organ of government and provided with a prodigious amount of resources to maintain these outright lies.  The entire corporate sector has been likewise enlisted to maintain the unending coverup of both the blue skies and the conspiratorial plot–chemical geoengineering.  They have both been indefatigably assisted by the MSM at every turn in this ongoing Con of the Millennium!

The real problem with the ever-worsening planetary predicament is that eventually the biosphere will exceed critical points of no return.  Crucial breakpoints have already been observed which have caused ecosystems to collapse.  Isn’t that what continuous drought and regular deluge will do?  The once great state of California is a perfect example of what the other 49 states can expect.

Relentless Chemtrail Spraying and HAARP-manufactured weather events radically alter California’s climate

Because the true effects of geoengineering are so insidious and under-the-radar, the entire planet is literally being set up for a slow-motion ELE (extinction level event).  Only because an apocalyptic event has not yet occurred on the scale of the Great Flood or the “Sinking of Atlantis” do many blow off such speculation as the stuff of a fertile imagination overly influenced by Apocalypse consciousness.  However, the signs and omens now abound everywhere.  Harbingers of an environmental Armageddon show up uninvited everywhere and anywhere, especially by way of meteorological devastation.

All anyone has to do is look at their local weather, or tune into the national weather events. An even better barometer reading will come from a quick scan of the regional or global news reports concerning major weather events.  They now occur with such frequency that they cannot be ignored. As a matter of fact, if the historical weather records were carefully reviewed, the following conclusion would become clear.  That the number of deaths and amount of damage from weather-related events has seen a steady and often precipitous rise, especially since the implementation of the perpetual and purposeful geoengineering programs.

chm3-1

Conclusion

There is only one reason why the planetary civilization finds itself at the edge of the climatological precipice.  That reason:  Most of the people of the world are clueless about what is occurring right above their heads.  Many are willfully ignorant of the chemtrails; others are simply unaware and uninformed.  The continual government disinformation campaign has been so effective that many don’t even know what to think.  Then there is the small but vocal minority of truth-seekers who know exactly what is going on.

Hence, the only way forward is through a deliberate campaign of education and edification. The education piece clearly delineates the facts about geoengineering; the edification part explains the necessity of mobilizing around the urgent need to terminate the chemtrails post-haste.  When most people come to understand that the hazardous waste product from coal-fired power plants — coal fly ash — is the main ingredient in chemtrails, they will join this movement—yesterday!

Peer-Reviewed, Court-Admissible, Scientific Research Paper Published Exposing Geoengineering and Coal Fly Ash

Truly, if ever there was a plot to commit genocide against the whole human race, the present system of ever-intensifying chemical geoengineering programs is it.  Therefore, the people must be made aware and motivated to respond accordingly.  After all, no one likes toxic chemicals  being sprayed on them all day long for years on end.  Nor does anyone like the blue skies being unceasingly polluted, particularly when the pollution becomes so dense the sun rays are forever blocked.

Who, pray tell, wants their sunny days stolen from them week after week … only to be replaced with days of toxic chemtrail drizzle?

State of the Nation
December 27, 2015

Author’s Note

The REPORT FROM IRON MOUNTAIN (RFIM) should not be underestimated for it clearly outlines the future of the New World Order.  Both U.N. Agenda 21 and Agenda 2030 are manifestations of the basic game plan recommended by the RFIM.  Therefore, this is a very good place for many to start.  The following link provides an important essay which breaks down the whole NWO strategy to corral the human race into a pen of fear and apprehension about the future viability of the biosphere.

Report from Iron Mountain: How War Will Be Replaced By Environmental Destruction To Traumatize Humanity

Editor’s Note

Many people are now aware of the major scams being run daily by the global elites on the inhabitants of this planet.  Who, for instance, is not aware of the international crime syndicate known as the Federal Reserve and the global Central Banking System?  However, of all the cons and shams there is none greater in scope and complexity than manufactured Global Climate Change via chemical geoengineering and HAARP.

That they even attempted, much less continue to perpetrate, such a preposterous scheme only betrays their level of sheer desperation.  They do know that, when a critical mass of residents get wind of their ploy for total planetary control, they will be frogmarched out of their plush offices and posh estates and into the same pot of hot water they have been ever so slowly heating up.  There they will be left in a stewpot of their own making, never to take over the kitchen again.

Web

Special Note

Hey people, it really is time to LOOK UP.  Link up.  Stand up.  Speak up.  Get up.  Talk it up.  And a lot LOT more.

We all possess a fundamental right to not be chemically assaulted by anyone, or any entity under the sun. Likewise, we all have the right not to have our home and property chemically trespassed by anyone, or any entity under the sun.

Therefore, we all have a fundamental right not to be sprayed by the chemical geoengineering programs currently in operation throughout the USA. Does anyone have the right to walk onto your property and indiscriminately spray toxic chemicals wherever they wish? We think not. Should they do so, repeatedly, they might end up in an institution for the criminally insane!

Is there any business, organization or governmental entity that possesses the inherent power to conduct itself in this same manner? We don’t think so, lest they be responsible for chemical assault or trespass. Furthermore, we would challenge anyone in in the U.S. Federal Government, to cite a single instance where anyone, or any entity, possesses the legitimate (does not transgress inviolable rights), statutory power to engage in such intrusive and outright harmful behavior.

After all, chemical assault is chemical assault no matter who is spraying the toxic chemicals … or how secretly they conduct the chemical trespass.
(Source: Taking A Stand Against The Unrelenting Chemtrail Assault …)

It is truly inconceivable that such a destructive and harmful government program is running 24/7 right over our heads and hardly anyone notices.

Because so few have taken notice, We the People are now forced into a geoengineered corner.  And there’s only one way out of that corner.

Think of our collective predicament as the American colonists did.  They knew that there was only one way out of the nascent British Empire.  With each year came a different form of oppression in the form of so many dictatorial “Acts” issued by the Crown.  As follows:

1733 – Molasses Act
1764 – Sugar Act
1764 – Currency Act
1765 – Stamp Act
1765 – Quartering Act
1766 – Declaratory Act
1767 – Townshend Revenue Act
1773 – Tea Act
1774 – Intolerable or Coercive Acts

What’s the point?  The American people are now dictated to by another despotic tyranny. Now we have the patently unlawful and covertly executed Geoengineering Act administered by the U.S. Federal Government.  This is just one of many other unwanted  national initiatives that have been imposed on the citizenry such as GMO foods, fluoridated water, mandatory childhood vaccinations, circumcision without consent, as well as a whole slew of taxes and fees which have kept many in the state of perpetual poverty.

None of these compare to the fouling of our air.  What could possibly come close to the poisoning of the ambient air that we breathe with so many highly toxic contaminants?!

Sources

[1] NWO Cabal Pursues Total Dominion Over The Earth’s Weather And Natural Resources

[2] OPERATION CLOVERLEAF: The Most Dangerous Weapons Testing Program In World History 

References

Biosphere Approaching Critical Points Of No Return

Was the California drought geoengineered to pass future ‘climate change’ legislation?

Recommended Reading

CHEMTRAILS: A Planetary Catastrophe Created by Geoengineering

CHEMTRAIL SYNDROME: A Global Pandemic Of Epic Proportions

CHEMTRAILS : The Biggest Coverup of All Time

Originally written by SOTN and published at: http://stateofthenation2012.com/?p=27876

Epic Oil Glut Sparks Super Tanker ‘Traffic Jams’ at Sea

Graphic for News Item: Epic Oil Glut Sparks Super Tanker 'Traffic Jams' at Sea

It’s no secret that a massive supply glut has caused global oil prices to crash this year. Ferocious production from OPEC and near-record U.S. output is adding to sky-high oil inventories around the world.

But what’s less widely known is that the oversupply problem has gotten so bad that oil tankers waiting to be offloaded are piling up off the U.S. Gulf Coast because there’s nowhere to put the crude.

So-called “floating storage” of crude oil soared to nearly triple the normal level last week, according to ClipperData, which tracks global shipments of crude.

It’s a “super tanker traffic jam,” said Matt Smith, director of commodity research at ClipperData.

Not Enough Buyers

Smith first noticed the maritime congestion popping up a month ago off the coast of Singapore. That was alarming because Asia accounts for one-third of global oil demand.

“It was kind of strange to see. The ships didn’t have any buyers,” he said.

And then ClipperData discovered a similar phenomenon off China and even the Arabian Gulf.

“There just appears to be more oil than can be dealt with. They haven’t got anywhere to put it,” said Smith.

$2 Gas Coming Soon

That, of course, is great news for American drivers. National average gasoline prices have dropped to $2.10 a barrel, down by 75 cents from a year ago, according to AAA. U.S. prices could slip below $2 by Christmas nationwide for the first time since 2009, AAA said.

Oil prices are also heading south. The latest evidence of the lingering glut helped cause oil prices last week to briefly tumble below $40 a barrel for the first time since late August. Over the past year and a half, oil has lost more than 60% of its value, an epic crash that has thrown the energy industry into disarray.

The problem is OPEC producers, led by Saudi Arabia and Iraq, are pumping oil aggressively despite depressed prices. U.S. output is also near record highs, though it has slowed a bit.

Inventories As High As They’ve Ever Been

There is a “massive cushion” of crude oil around the world, with global stockpiles sitting at a record 3 billion barrels, according to the International Energy Agency.

A stunning 487 million barrels of crude is sitting in U.S. inventories, levels unseen at this time of the year in the last 80 years, according to the U.S. Energy Information Administration.

“We’ve been through a low-price environment all year — yet the world is still awash with crude here,” said Smith.

Source: Oil & Gas People

“Munitions Object” found near Baltic Sea gas pipeline (video)

Baltic Sea gas pipeline still closed after mysterious object foundGas flow from the Nord Stream Line 2 pipeline in the Baltic Sea is yet to resume following the halt earlier this week after a potentially explosive object had been found in the vicinity.

Nord Stream AG, the operator of the pipeline carrying Russian gas to EU, on Wednesday said that the Swedish Armed Forces were on site “to safely and professionally dispose of the munitions object.”

“They have to work under windy conditions, so there is no set timeline when the works will be completed,” the company said.

Transportation through Line 2, closed at inlet as a precautionary measure, is expected to be resumed as soon as the disposal of the object is confirmed.

The object, described by Nord Stream AG as a “piece of munition” is in the Swedish Exclusive Economic Zone (EEZ) approximately 120 km away from the island of Gotland.

As for the nature of the object, the Swedish armed forces said Wednesday that it was impossible to say what it was exactly until the identification is completed.

https://i1.wp.com/www.offshoreenergytoday.com/wp-content/uploads/2015/11/Piece-of-munitions-stops-gas-flow-from-Baltic-pipeline-664x462.jpg

To remind, the Swedish media reported Monday that the mysterious object might be an expendable subsea drone used to destroy underwater mines by detonating a large caliber charge and destroying both itself and the mine in the process. Read more on that here: http://bit.ly/1lf2n0Z

Nord Stream Milestone

Nord Stream in October marked a significant milestone, having transported 100 billion cubic metres of Russian natural gas to the European Union.

The 1,224 kilometers long twin pipeline system crosses the Exclusive Economic Zones of Russia, Finland, Sweden, Denmark and Germany, as well as the territorial waters of Russia, Denmark, and Germany.

According to Nord Stream AG, the pipeline’s transport capacity of 55 bcm per year can provide more than 10 percent of the current gas demand in the EU.

Source: Offshore Energy Today


Baltic Sea Pipeline Reopens After Munitions Object Cleared

Nord Stream AG informed on Thursday that the munitions object, found last week near Nord Stream Line 2 in the Baltic Sea, has been cleared and the gas pipeline has been reopened. 

According to Nord Stream, the operator of the pipeline carrying Russian gas to Europe trough the Baltic Sea, the Swedish Armed Forces have cleared the munitions object found near Nord Stream Line 2.

Line 2, which had been closed at inlet as a precautionary measure, was reopened and resumed gas transportation.

The piece of munitions was found in close proximity to the Nord Stream Line 2 on November 6, 2015 during routine survey operations as part of annual integrity assessment activities of the Nord Stream offshore pipeline system. The object was located  in the Swedish Exclusive Economic Zone (EEZ) approximately 120 km away from the island of Gotland.

The pipeline operator still has not provided any details on the nature nor origin of the object found. However, Swedish media previously reported that the mysterious object was an expendable subsea drone used to destroy underwater mines by detonating a large caliber charge and destroying both itself and the mine in the process.

Offshore Energy Today reached out to the Swedish Armed Forces seeking more details about the nature of the object found near the pipeline. The article will be updated should we get a response.

Offshore Energy Today Staff

Make A Stove From A Single Log

If you’re an avid camper, or just someone that loves being outdoors…. you’re really about to enjoy this. It’s known as the Swedish Fire Torch, and it’s a really simple outdoor cooking technique that uses a single log basically like a stove top.

 Start with a log… (duh)

1

Chainsaw or ax to make the cuts

2

Cut it into eight segments

3

Stick some paper into the cracks

4

Light

5

Use the base as a stove top

6

And there you have it!

7

8

9

10

11

Check it out below… You can also use an ax or hatchet if you don’t have a chainsaw handy.

Lifted from The Idealist Revolution

 

Price Collapse Hits Scavengers Who Scrape the Bottom of Big Oil’s Barrel

Ultra low producing “nodding donkey”

By Joe Carroll for Bloomberg

In the $1.6 trillion-a-year oil business, there are global titans like Exxon Mobil Corp. (XOM) that wield more economic might than most of the nations on Earth, and scores of wildcatters scouring land and sea for the next treasure troves of crude.

Then there are the strippers. For these canaries in the proverbial coal mine, the journey keeps going deeper and darker.

Strippers are scavengers who make a living by resuscitating once-prolific oil fields to coax as little as a bathtub full of crude a day from each well. Collectively, the strippers operate almost half-a-million oil wells that produced more than 730,000 barrels a day in 2012, the most recent year for which figures were available.

That’s one of every 10 barrels produced in the U.S. — equivalent to the entire output of Qatar, or half the crude Royal Dutch Shell Plc (RDSA), Europe’s largest energy company, pumps worldwide every day. With oil prices down 58 percent since June, these smallest of producers will be the first to succumb to the Great Oil Bust of 2015.

“This is killing us,” said Todd Shulman, a University of Colorado-trained geologist who ran fracking crews in the Rocky Mountains before returning to Vandalia, Illinois, in 1984 to help run the family’s stripper well business.

Todd Shulman stands with his father and sons in May 2006 during the drilling of the C.T. Williams #1, in St. James Field, Fayette County, Illinois.

Stripper wells — an inglorious moniker for 2-inch-wide holes that produce trickles of crude with the aid of iconic pumping machines known as nodding donkeys — were a vital contributor to U.S. oil production long before the shale revolution.

Untapped Well

Though a far cry from the booming shale gushers that have pushed American crude production to the highest in a generation, stripper wells are a defining image of the oil business, scattered throughout rural backwaters abandoned by the world’s oil titans decades ago.

With the price of crude dipping so low, there’s no way Shulman will be able to drill a new well that regulators have already permitted. Nor is he even going to turn on a well finished last month that’s ready to start production.

It would be foolhardy to harvest crude from wells that won’t pay for themselves, said Shulman, who scrapes remnants from old Texaco (CVX) and Shell fields 310 miles south of Chicago, in the heart of what had been a booming oil region in the 1930s. He’ll wait for prices to rebound.

First To Cut

The economics of most stripper wells stop making sense when Brent crude, the benchmark for more than half the world’s oil, drops under $50 a barrel, U.K.-based Wood Mackenzie Ltd. said in a Jan. 9 note to clients.

Brent fell as much as 2.2 percent to $47.78 a barrel in London today, and lost 48 percent of its value for the full year 2014 amid faltering global demand and rising U.S. output that fed a supply glut.

“Once the oil price reaches these levels, producers have a sometimes complex decision to continue producing, losing money on every barrel produced, or to halt production, which will reduce supply,” said Robert Plummer, a corporate research analyst at Wood Mackenzie. “U.S. onshore ultra-low production volume stripper wells could be the first to be cut.”

Although stripper wells extract only a tiny fraction of the oil reaped from a successful shale development, a stripper can be drilled for less than $300,000, compared with $7 million to $9 million for shale wells, which require hydraulic fracturing, or fracking, to flow oil and natural gas.

Done Forever

For stripper-well operators like Shulman and thousands of others across the U.S., the situation is especially dire: unlike shale fields that can be quickly shut down and restarted in response to price swings, stripper operations are geologically and technically delicate.

Shut a stripper well down and chances are the bottom of the hole will fill with water or permanently clog with sand and you’ll never see another barrel of oil, said Brad Gessel, who operates 200 stripper wells in fields formerly owned by the likes of Shell near Whittington, Illinois.

“If you shut it in, you may never get that production back again,” Craig Hedin, a veteran Illinois oil lawyer whose four-decade career included helping negotiate Exxon’s 1989 sale of the sprawling Loudon field in 1989. Loudon was a 400 million-barrel jewel in Exxon’s crown for half a century until output slowed to such a slow gurgle that it was no longer worth the company’s attentions. Now, the 25-mile vein of oil-soaked rock north of Vandalia is being worked by strippers.

Battening Hatches

Before considering the last resort of shutting down producing wells, stripper owners are coping with low prices much like every other oil company. First, they’re suspending new drilling, Gessel said in an office at the back of an industrial showroom stocked with heavy-duty elbow pipes, gauges and other gear sold by the family’s other line of business, Gessel Pump Sales & Service Inc.

The next step is to look for cost-cutting measures in the field and office, and defer new equipment purchases, said the 55-year-old Gessel. Finally, they’d have to lay off employees and Gessel would stop taking a paycheck himself.

It got that bad just 17 years ago.

“When prices crashed and went below $10 a barrel in ’98, I laid off every single employee, my pay went to zero and every piece of equipment was parked in the barn,” Gessel said. “I hope that isn’t where we’re headed this time around.”

All Scavenged

Every drop of crude produced in Illinois comes from stripper wells, rather than conventional wells or shale formations, according to the Interstate Oil and Gas Compact Commission. That’s a higher proportion of stripper-oil supply than any other crude-producing state except Missouri, which also gets 100 percent of its oil from scavenged fields.

The vast majority of Illinois’s oil is fed into Countrymark Cooperative Holding Corp.’s refinery in nearby Mt. Vernon, Indiana.

The price Countrymark, a closely held Indianapolis-based maker of fuel for farmers, pays oil producers averages about $7 a barrel less than the U.S. benchmark, West Texas Intermediate crude. The discount accounts for transportation costs incurred by Countrymark to gather and ship the oil to the refinery by truck and pipe.

That means that last week, when WTI dipped as low as $44.20, Illinois crude fetched less than $38.

“I’m going to try not to lay anybody off because we’ve spent years building a really good workforce,” said Gessel, who started the company with his father and brother in 1980 by kicking in $5,000 apiece. The company now employs 25 workers, including two full-time geologists.

Holding Out

Gessel is betting shale drillers in North Dakota and Texas carrying heavy debt loads and multi-million dollar well costs will fold before stripper operators like him.

Bakken crude, which like Illinois oil trades at a discount to the benchmark to account for shipping costs, fetched $39.97 a barrel on Jan. 13 before rebounding to $43.08 the next day. The price’s 2014 peak was $103.01 in June.

“I maintain the shale stuff has to have a high price to work,” Gessel said. “The Bakken stuff doesn’t work at $35. Hell, even my stuff doesn’t work at $35.”

Money Dries Up for Oil & Gas, Layoffs Spread, Write-Offs Start

https://i0.wp.com/www.petrorigs.com/files/cache/45a05a294860772d6ff23262800daa1f_f171.JPG
by
Wolf Richter

When money was growing on trees even for junk-rated companies, and when Wall Street still performed miracles for a fee, thanks to the greatest credit bubble in US history, oil and gas drillers grabbed this money channeled to them from investors and refilled the ever deeper holes fracking was drilling into their balance sheets.

But the prices for crude oil, US natural gas, and natural gas liquids have all plunged. Revenues from unhedged production are down 40% or 50%, or more from just seven months ago. And when the hedges expire, the problem will get worse. The industry has been through this before. It knows what to do.

Layoffs are cascading through the oil and gas sector. On Tuesday, the Dallas Fed projected that in Texas alone, 140,000 jobs could be eliminated. Halliburton said that it was axing an undisclosed number of people in Houston. Suncor Energy, Canada’s largest oil producer, will dump 1,000 workers in its tar-sands projects. Helmerich & Payne is idling rigs and cutting jobs. Smaller companies are slashing projects and jobs at an even faster pace. And now Slumberger, the world’s biggest oilfield-services company, will cut 9,000 jobs.

It had had an earnings debacle. It announced that Q4 EPS grew by 11% year-over-year to $1.50, “excluding charges and credits.” In reality, its net income plunged 81% to $302 million, after $1.8 billion in write-offs that included its production assets in Texas.

To prop up its shares, it announced that it would increase its dividend by 25%. And yes, it blew $1.1 billion in the quarter and $4.7 billion in the year, on share buybacks, a program that would continue, it said. Financial engineering works. On Thursday, its shares were down 35% since June. But on Friday, after the announcement, they jumped 6%.

All these companies had gone on hiring binges over the last few years. Those binges are now being unwound. “We want to live within our means,” is how Suncor CFO Alister Cowan explained the phenomenon.

Because now, they have to.

Larger drillers outspent their cash flows from production by 112% and smaller to midsize drillers by a breathtaking 157%, Barclays estimated. But no problem. Wall Street was eager to supply the remaining juice, and the piles of debt on these companies’ balance sheets ballooned. Oil-field services companies, suppliers, steel companies, accommodation providers… they all benefited.

Now the music has stopped. Suddenly, many of these companies are essentially locked out of the capital markets. They have to live within their means or go under.

California Resources, for example. This oil-and-gas production company operating exclusively in oil-state California, was spun off from Occidental Petroleum November 2014 to inflate Oxy’s share price. As part of the financial engineering that went into the spinoff, California Resources was loaded up with debt to pay Oxy $6 billion. Shares started trading on December 1. Bank of America explained at the time that the company was undervalued and rated it a buy with a $14-a-share outlook. Those hapless souls who believed the Wall Street hype and bought these misbegotten shares have watched them drop to $4.33 by today, losing 57% of their investment in seven weeks.

Its junk bonds – 6% notes due 2024 – were trading at 79 cents on the dollar today, down another 3 points from last week, according to S&P Capital IQ LCD.

Others weren’t so lucky.

Samson Resources is barely hanging on. It was acquired for $7.2 billion in 2011 by a group of private-equity firms led by KKR. They loaded it up with $3.6 billion in new debt and saddled it with “management fees.” Since its acquisition, it lost over $3 billion, the Wall Street Journal reported. This is the inevitable result of fracking for natural gas whose price has been below the cost of production for years – though the industry has vigorously denied this at every twist and turn to attract the new money it needed to fill the holes fracking for gas was leaving behind.

Having burned through most of its available credit, Samson is getting rid of workers and selling off a big part of its oil-and-gas fields. According to S&P Capital IQ LCD, its junk bonds – 9.75% notes due 2020 – traded at 26.5 cents on the dollar today, down about 10 points this week alone.

Halcón Resources, which cut its 2015 budget by 55% to 60% just to survive somehow, saw its shares plunge 10% today to $1.20, down 85% since June, and down 25% since January 12 when I wrote about it last. Its junk bonds slid six points this week to 72 cents on the dollar.

Hercules Offshore, when I last wrote about it on October 15, was trading for $1.47 a share, down 81% since July. This rock-bottom price might have induced some folks to jump in and follow the Wall-Street hype-advice to “buy the most hated stocks.” Today, it’s trading for $0.82 a share, down another 44%. In mid-October, its 8.75% notes due 2022 traded at 66 cent on the dollar. Yesterday they traded at 45.

Despite what Wall-Street hype mongers want us to believe: bottom-fishing in the early stages of an oil bust can be one of the most expensive things to do.

Paragon Offshore is another perfect example of Wall Street engineering in the oil and gas sector. The offshore driller was spun off from Noble in early August 2014 with the goal of goosing Noble’s stock price. They loaded up the new company with debt. As part of the spinoff, it sold $580 million in junk bonds at 100 cents on the dollar. When its shares started trading, they immediately plunged. By the time I wrote about the company on October 15, they’d dropped 68% to $5.60. And the 6.75% notes due 2022 were trading at 77 cents on the dollar. Then in November, Paragon had the temerity to take on more debt to acquire Prospector Drilling Offshore.

Two days ago, Moody’s downgraded the outfit to Ba3, with negative outlook, citing the “rapid and significant deterioration in offshore rig-market fundamentals,” “the high likelihood” its older rigs might “not find new contracts,” and the “mostly debt-funded acquisition” of Prospector Drilling. The downgrade affects about $1.64 billion in debt.

Today, Paragon’s shares trade for $2.18, down another 61% since October 15. Its junk bonds are down to 58 cents on the dollar.

Swift Energy – whose stock, now at $2.37, has been declining for years and is down 84% from a year ago – saw its junk bonds shrivel another eight points over the week to 36 cents on the dollar.

“Such movement demonstrates the challenging market conditions for oil-spill credits, with spotty trades and often large price gaps lower,” S&P Capital IQ LCD reported.

It boils down to this: these companies are locked out of the capital markets for all practical purposes: at these share prices, they can’t raise equity capital without wiping out existing stockholders; and they can’t issue new debt at affordable rates. For them, the junk-bond music has stopped. And their banks are getting nervous too.

Their hope rests on cutting operating costs and capital expenditures, and coddling every dollar they get, while pushing production to maximize cash flow, which ironically will contribute to the oil glut and pressure prices further. They’re hoping to hang on until the next miracle arrives.


These Two Charts Show the True Fiasco of US Oil & Gas

https://i1.wp.com/static.panoramio.com/photos/large/78033170.jpgby Wolf Richter

Rig count for oil and for gas: two separate fiascoes

Oil-and-gas exploration and production companies in the US have announced cutbacks of 30%, 40%, or 50% and beyond in operating budgets and capital expenditures. They want to survive in an environment of plunging oil and gas prices, and hence plunging revenues. They loaded up on debt, and that debt is now exacting its pound of flesh.

These companies lease drilling rigs from oil-field services companies, such as Halliburton. When the going gets tough and they run out of borrowed money, they stop leasing rigs, and they try to get out from under the rigs that they have already contracted for. It’s a slow process. But it has begun.

The number of rigs drilling for oil in the US dropped another 55 in the latest week to 1,366, the lowest since October 2013, down 15.1% from the peak in the second week of October last year, when 1,609 rigs were drilling for oil.

The rig count had already dropped by 61 in the prior week, the largest week-to-week drop in Baker Hughes’ data series going back to 1987. In percentage terms (-4.12%), it had been the largest drop since the Financial Crisis.

In both weeks combined, the rig count plunged by 116, or 7.8%. The last time it started plunging like this for two weeks was in December 2007 (also down 7.8%, ironically), at the cusp of the stock market crash.

The standouts:

California lost 4 active oil and gas rigs in the latest week, bringing the rig count to 18 (including 1 offshore), from 45 rigs (including 2 offshore) reported on November 21. In those eight weeks, the rig count plunged 60%! Drilling is coming to a halt in California.

North Dakota, second largest oil-producing state, lost another 6 rigs in the latest week, to 156 active rigs. Down 13.3% in five weeks.

Texas, the largest oil-producing state, got hit the hardest, not in percentage terms – that honor belongs to California – but in number of rigs that have been evaporating: 44 in the latest week. The oil and gas rig count is now at 766, the lowest since March 2011. That’s down 15.4% from the peak of 905 rigs reported on November 21.

This is what drilling activity looks like across the US:

US-rig-count_1988_2015-01-16=oil

As I wrote a few days ago in This Is Just the Beginning of the Great American Oil Bust:

Estimates vary widely as to how far the rig cutting will go. Barclays’ analyst Anderson estimated that at least 500 rigs could be idled in the American oil patch by the end of the year. Raymond James analyst Praveen Narra said that his firm estimated that up to 850 rigs could be idled this year. If 60% are idled, as was the case during the Financial Crisis, it would mean that 965 rigs would be taken out of service.

Over the last 10 years, the oil and gas business in the US has become huge, and the unwind will be huge as well.

Rigs drilling for natural gas follow a different pattern. The rig count collapsed years ago as the price of natural gas fell below the cost of production, after a phenomenal no-holds-barred fracking boom in the years before the financial crisis, which culminated in August 2008 when over 1,600 gas rigs were active. This resulted in a “gas glut” that killed prices, pushing them below the cost of production.

The rig count collapsed in two phases, first during the financial crisis, and then after a sucker rally, during the “gas glut.” It has turned into a true fiasco for the industry and increasingly for its investors:

US-rig-count_1988_2015-01-16=gas

But why is production still rising after this kind of plunge in drilling activity?

There are a number of reasons, but one stands out: Numerous of these newly drilled and completed or partially completed wells couldn’t be hooked up to pipelines because the growth of the pipeline infrastructure hadn’t kept up with the drilling boom. These wells – by some estimates, 1,300 in the Marcellus alone – just sat there, waiting for the pipeline. Over the last two years, pipeline infrastructure has reached these wells, and despite the plunge in drilling activity, “production” – which is counted when natural gas reaches a trading hub, not when the well is drilled – has soared in 2014.

So the rig count for natural gas dropped 19 in the latest reporting week, to 310, matching the low of June 2014, levels not seen since May 1993! Yet, in the overall fiasco that natural gas drillers are facing, this is just another minor downtick, and barely visible on the chart.

New NASA Satellite Photos Show America’s Oil Fields At Night

by Mark Perry

NASA has released some new photos and animations of the Earth at Night constructed using cloud-free night images from a new NASA and National Oceanic and Atmospheric Administration (NOAA) satellite – the Suomi NPP.  At the “Now It’s All This” blog, the top photo above from NASA is featured in a post titled “Bright Lights, No City.”  Amazingly, you can see the bright lights at night spread out all over the Bakken oil fields of western North Dakota, eastern Montana and southern Saskatchewan.

The second photo shows Texas at night, and I’ve highlighted the major cities, along with the bright night lights spread across the oil fields in the Eagle Ford Shale region of Texas (the area between the two red lines).

Bonus: The bottom photo was taken from the “Earth at Night” video on the NASA website, and shows the dramatic difference at night between North and South Korea.