Swiss slide into deflation signals the next chapter of this global crisis:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5110578/Swiss-slide-into-deflation-signals-the-next-chapter-of-this-global-crisis.html

UK production shrinks to lowest in over 40 years:
http://www.telegraph.co.uk/finance/newsbysector/industry/5120884/UK-production-shrinks-to-lowest-in-over-40-years.html

Alcoa’s loss underlines collapse in global demand:
http://www.telegraph.co.uk/finance/newsbysector/industry/5123174/Alcoas-loss-underlines-collapse-in-global-demand.html

Tankers anchor off Devon waiting for oil prices to rise:
http://www.telegraph.co.uk/finance/financetopics/oilprices/5122317/Tankers-anchor-off-Devon-waiting-for-oil-prices-to-rise.html

Ireland unveils emergency budget:
http://www.ft.com/cms/s/0/8fb519b8-23a9-11de-996a-00144feabdc0.html

Ireland imposes emergency cuts:
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5121728/Ireland-imposes-emergency-cuts.html

US Tax Day “Tea Party” protests:
http://taxdayteaparty.com/

Peace

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Duration : 0:2:29

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Would the market produce “too little” conservation without corporate average fuel efficiency (CAFE) standards? At first glance, no. The “right” (that is, efficient) amount of gasoline consumption will occur naturally as long as fuel markets are free and gasoline prices reflect total costs. In fact, a review of market data by Clemson University economist Molly Espey and Santosh Nair found that consumers actually overvalue fuel efficiency. That is, they pay more up front in higher car prices than the present value of the fuel savings over the lifetimes of the cars.

But driving imposes costs on others that aren’t reflected in fuel prices, like environmental degradation. Because gasoline prices do not reflect total costs, consumption is higher than it ought to be. Congress is therefore doing the economy a favor by mandating increased increments of energy conservation, right?

The argument is clever, but wrong.

Increasing CAFE standards will not decrease the amount of pollution coming from the U.S. auto fleet. That’s because we regulate emissions per mile traveled, not per gallon of gasoline burned. Improvements in fuel efficiency reduce the cost of driving and thus increase vehicle miles traveled. Moreover, automakers have an incentive to offset the costs associated with improving fuel efficiency by spending less complying with federal pollution standards with which they currently over-comply.

Those two observations explain calculations from Pennsylvania State economist Andrew Kleit showing that a 50 percent increase in CAFE standards would increase total emissions of volatile organic compounds by 2.3 percent, nitrogen oxide emissions by 3.8 percent, and carbon-monoxide emissions by 5 percent.

Another rationale for CAFE standards is that gasoline purchases send money to foreign terrorists who kill and maim with our dollars. Energy conservation, according to many, is our “ace in the hole” against al Qaeda and its ilk.

If there were a relationship between our “energy addiction” and Islamic terrorism, one would expect to find a correlation between world crude oil prices and Islamic terror attacks or mortality from the same. But there is no statistical relationship between the two. Terrorism is a very low-cost endeavor and manpower, not money, is its necessary determinant. That explains why even the lowest inflation-adjusted oil prices in history proved no obstacle to the rise of Islamic terror organizations in the 1990s.

While it’s true that nasty regimes like Iran are getting rich off our driving habits, the extent to which oil profits fuel its nastiness is unclear. After all, Pakistan is a poor country with no oil revenues, but it had no problem building a nuclear arsenal. The same goes for North Korea. Iran without oil revenues might look like Syria. Venezuela without oil revenues might look like Cuba. In short, while rich bad actors are probably more dangerous than poor ones, oil revenues don’t seem to make much difference at the margin.

Finally, we’re told that CAFE helps secure our energy independence. But the amount of oil we import is related to the difference between domestic and foreign crude oil prices. Reducing oil demand may reduce the total amount of oil we consume, but it will not reduce the degree to which we rely on foreign oil to meet our needs.

Regardless, tightening CAFE standards would have little impact on any of these alleged problems. If the Senate’s proposed CAFE standard of 35 mpg by 2020 were to become law, it would reduce oil consumption by, at most, about 1.2 million barrels a day. Given that the Energy Information Administration thinks world crude oil production would be 103.8 million barrels a day by 2020, the reduction would be 1.2 percent of global demand and result in a 1.3 percent decline in price; nowhere near enough to defund terrorists, denude oil producers of wealth, or secure energy independence.

Congress has no business dictating automotive fuel efficiency. That’s a job for consumers, not vote-hustling politicians. There are no problems for CAFE standards to solve. Hence, they shouldn’t be tightened; they should be repealed.

I think they do. The car industry is certainly not going to step up.
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UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSp9VoPeHquI
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The following is a summary of the main economic events from the Asia-Pacific and European sessions:

*UN Trade and Development Agency proposes setting-up a new world reserve currency based on a basket of global FX mediums.

*Former Feds Greenspan tells audience in Mumbai, India, that U.S. banks need to hold higher capital ratios than they do currently to offset any future crises.

*Gold breaks above the $1000-per-ounce mark for the first time since late February 2009.

*Chinese Finance Ministry says it will sell CNY 6.0 billion in government bonds; they will be issued in Hong Kong on September 28.

*PBOC Vice Governor Su tells audience at a finance conference that the central bank will continue providing appropriately loose monetary policy.

*UK Chancellor Darling tells audience in Cardiff, Wales, that while the government will not back away from cutting public spending, it will properly signal the move to market agents.

*Expansion interview: ECBs Gonzalez-Paramo says markets could be overreacting to the recent global wave of positive economic data; adds that excesses are always bad.

*UK industrial production rises 0.5% month-over-month in July, beating calls for a 0.2% increase and below the previous 0.6% gain; annual production contracts 9.3% compared to forecasts for a 10.1% fall and following the previous 10.7% decline.

*UK manufacturing production surges 0.9% month-over-month in July, beating forecasts for a 0.3% increase and the previous 0.6% gain; annual production declines 10.1% compared to forecasts for an 11.1% decline and after the previous 11.3% fall.

* German trade surplus rises to €13.9 billion in July, despite calls for a decline to €11.3 billion from €12.1 billion; current account surplus falls to €11.0 billion, a smaller drop than forecasts for a contraction to €10.0 billion from €13.5 billion the month prior.

*Swiss unemployment rate rises to 4.0% in August, despite calls for an increase to 4.1% from 3.9% the month prior.

*Japanese Eco Watchers current economic index falls to 41.7 in August, despite calls for an increase to 43.0 from 42.4 the month prior.

*Japanese trade surplus (BOP basis) drops to ¥437.3 billion in July, more than the expected fall to ¥495.1 billion from ¥602.2 billion in June; meanwhile, current account total increases to +¥1265.6 billion in July from +¥1152.5 billion, disappointing the consensus call, however, for a rise to +¥1452.6 billion.

*Australian NAB business conditions index rises to a +4 reading in August from +1 the prior month; meanwhile, business confidence component increases to +18 from +10 in July.

*UK BRC retail sales monitor declines 0.1% in August, worse than the expected flat reading but improving upon the prior 8.1% drop.

*Kraft Foods says it will continue its £10.2 billion ($16.7 billion) hostile bid to acquire Cadbury, after the chocolate maker rejected an offer by the American foods giant; Kraft is offering 300 pence, or slightly more than a quarter-of-a-share in Kraft, for every Cadbury share.

*British regulators fine Barclays £2.45 million ($4.0 million) for failing to provide accurate transactions information.

*Toyota announces it will hire 800 temporary employees in Japan in October due to improving auto sales.

*Taiwans PM Liu resigns due to the controversy over the governments response to the deadly typhoon last month.

*BBC: Reyes Heroles, the head of Mexicos state-owned oil company Pemex, is replaced by Juan Jose Suarez; Mexican Attorney General Eduardo Medina Mora, integral to the countrys war on drug cartels, also loses his position.

http://www.fxstreet.com/fundamental/market-view/the-overnight-express-north-american-edition/2009-09-08.html
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The United Nations Conference on Trade and Development said in a report published Monday that the U.S. dollar should be replaced as the worlds standard reserve currency, giving rise to a new global currency managed by an as-yet undetermined financial regulatory organization.

http://rawstory.com/08/news/2009/09/07/united-nations-calls-for-new-world-currency/
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Duration : 0:4:6

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The Caltech page has Streaming Video and PDF files. My clip of the Q&A part of the presentation is a way to get Carbon Cap definition out. This is not smoke and mirrors. Do go to the above link and watch/listen carefully.
Thanks, dutch

Presentation Abstract

This presentation describes and evaluates the technical, political, and economic challenges involved with widespread adoption of renewable energy technologies.

First, we estimate the available fossil fuel resources and reserves based on data from the World Energy Assessment and World Energy Council. In conjunction with the current and projected global primary power production rates, we then estimate the remaining years of supply of oil, gas, and coal for use in primary power production. We then compare the price per unit of energy of these sources to those of renewable energy technologies (wind, solar thermal, solar electric, biomass, hydroelectric, and geothermal) to evaluate the degree to which supply/demand forces stimulate a transition to renewable energy technologies in the next 20-50 years.

Second, we evaluate the greenhouse gas buildup limitations on carbon-based power consumption as an unpriced externality to fossil-fuel consumption, considering global population growth, increased global gross domestic product, and increased energy efficiency per unit of globally averaged GDP, as produced by the Intergovernmental Panel on Climate Change (IPCC). A greenhouse gas constraint on total carbon emissions, in conjunction with global population growth, is projected to drive the demand for carbon-free power well beyond that produced by conventional supply/demand pricing tradeoffs, at potentially daunting levels relative to current renewable energy demand levels.

Duration : 0:9:11

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In this video Jim visits the Cabinda Province in Angola.

Copyright Jim Rogers, provided as a special contribution to FentonReport

Cabinda (also spelled Kabinda) is an State and province of Angola, a status that has been disputed by many political organizations in the territory. The capital city is also called Cabinda. The province is divided into four municipalities – Belize, Buco Zau, Cabinda and Cacongo.

Modern Cabinda results from the fusion of three kingdoms: N’Goyo, Loango and Kakongo. It is 7,823 km2 (3,020 sq mi) in area, and has a population of 264,584 (estimated in 2006). According to 1988 United States government statistics, the total population of the province was 147,200, with a near even split between total rural and urban populations. About one third of Cabindans are refugees living in the Democratic Republic of the Congo (DRC). It is separated from Angola by a narrow strip of territory belonging to the DRC, which bounds the province on the south and the east. Cabinda is bounded on the north by the Republic of the Congo, and on the west by the Atlantic Ocean. Adjacent to the coast are some of the largest oilfields in the world. Petroleum exploration began in 1954.

Cabinda produces hardwoods, coffee, cacao, rubber, and palm oil products. Petroleum production began in 1968, and now accounts for most of Angola’s production. Cabinda produces 700,000 barrels of crude oil per day. Cabinda Oil is associated with Sonangol, Agip Angola Lda (41%), Chevron (39.2%), Total (10%) and Eni (9.8%).

While the Angolan Civil War largely ended in 2002, an armed struggle persists in the exclave of Cabinda, where some of the factions have proclaimed an independent Republic of Cabinda, with offices in Paris. The Treaty of Simulambuco establishes in Cabinda a Protectorate of Portugal and many consider the occupation of the territory by Angola illegal.

Duration : 0:2:29

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Raw & unedited.

The Tar Sands “Gigaproject” is the largest industrial project in human history and likely also the most destructive. The tar sands mining procedure releases at least three times the CO2 emissions as regular oil production and is slated to become the single largest industrial contributor in North America to Climate Change.

The tar sands are already slated to be the cause of up to the second fastest rate of deforestation on the planet behind the Amazon Rainforest Basin. Currently approved projects will see 3 million barrels of tar sands mock crude produced daily by 2018; for each barrel of oil up to as high as five barrels of water are used.

Since 2007 RBC Royal Bank Canada – has backed more than $16.9 billion (USD) in loans to companies operating in the tar sands—more than any other bank. Expansion of the tar sands is trampling the rights of Indigenous peoples, destroying globally significant ecosystems and significantly increasing Canadas carbon emissions.

Human health in many communities has seriously taken a turn for the worse with many causes alleged to be from tar sands production. Tar sands production has led to many serious social issues throughout Alberta, from housing crises to the vast expansion of temporary foreign worker programs that racialize and exploit so-called non-citizens. Infrastructure from pipelines to refineries to super tanker oil traffic on the seas crosses the continent in all directions to all three major oceans and the Gulf of Mexico.

The mock oil produced primarily is consumed in the United States and helps to subsidize continued wars of aggression against other oil producing nations such as Iraq, Venezuela and Iran.
Royal Bank of Canada

The Royal Bank of Canada (Banque Royale du Canada in French) is Canada’s largest company.[1] It has over 1,400 branches across Canada, over 70,000 full-and part-time employees worldwide, and offices in over 34 countries.

SNAPSHOT:
Number of employees worldwide: 60,858
Chief executive officer: Gordon Nixon
Website: http://www.rbc.com/
Global Fortune 500 rank: 211
Total revenue: 20.6 billion

Find out more and take action:

http://oilsandstruth.org/
http://www.ienearth.org/nativeenergy….
http://ran.org/campaigns/freedom_from…
http://climatefriendlybanking.org/
http://www.corpwatch.org

Our objective is to save humanity and not just half of humanity. We are here to save mother earth. Our objective is to reduce climate change to [under] 1°C. [above this] many islands will disappear and Africa will suffer a holocaust. The real cause of climate change is the capitalist system. If we want to save the earth then we must end that economic model. Capitalism wants to address climate change with carbon markets. We denounce those markets and the countries which [promote them]. It’s time to stop making money from the disgrace that they have perpetrated.”
- Evo Morales, December 16th, 2010, Copenhagen Climate Summit

Organizations; Please consider endorsing the POSTCOP15 | TIME TO BE BOLD DECLARATION.

POST COP15 | TIME TO BE BOLD | NO MORE COMPROMISE: http://timetobebold.wordpress.com/

Duration : 0:7:1

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