Category Archives: Energy

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

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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.

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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.

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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

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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.”

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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.

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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:

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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.

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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.

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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.

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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.

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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.

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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