A new fuel producer located near downtown Newark is getting established due to higher crude oil prices and the pressure to develop alternative energy sources.
For more news and events in and around New Jersey, visit NJN’s website at http://www.njn.net
Duration : 0:2:17
At 8.45am CST we have a strong sign of weakness on the Crude Oil futures, all connected with Fridays ultra high volume up bar at the close. This was posted in the VSA Club and I will post my trade for all club members later today, but this is a critical weak for the Dollar.
Duration : 0:5:55
Dec. 30 (Bloomberg) — Ben Westmore, an energy and minerals economist at National Australia Bank Ltd., talks with Bloomberg’s Haslinda Amin about his forecast for the price of oil.
Westmore, speaking from Melbourne, also discusses the outlook for copper and China’s metals production. (Source: Bloomberg)
Duration : 0:5:1
Dec. 18 (Bloomberg) — Bloomberg’s Su Keenan reports on the performance of oil market in 2009, and the outlook for oil prices next year. (Source: Bloomberg)
Duration : 0:1:26
Watch as how the timeline for the effect of off shore drilling warps from 2030 (not shown in this video) to a couple of months.
http://www.npr.org/templates/story/story.php?storyId=92570077
No one says that drilling offshore would change gas prices today. The Department of Energy says there may be 18 billion barrels of oil in coastal waters, but they also say that drilling for it would not have a significant impact on production or prices until 2030.
The media at its best.
Duration : 0:0:31
http://www.facebook.com/onearth
The latest video from Sustainable Earth. Includes new reports from government, the military, intelligence agencies and major NGO’s. It ends on a positive note; the reality of consequence will finally free humanity from short-term thinking.
I looked at literally dozens of reports for this short video…in the end I picked the most credible and those that summed up the prevailing thinking of the world’s best experts. Unfortunately it was impossible to include every detail; this is just an introduction to the subject. For further reading the files which make up this video are below.
Hirsch Report Peaking of World Oil Production: Impacts, Mitigation, and Risk Management (US Dept of Energy): http://www.netl.doe.gov/publications/others/pdf/Oil_Peaking_NETL.pdf
Energy Trends and Implications for U.S. Army Installations(US Marine Corp): http://handle.dtic.mil/100.2/ADA440265
Global Oil Depletion (UK Energy Research Centre): http://www.ukerc.ac.uk/support/Global%20Oil%20Depletion
Coming Oil Supply Crunch(Chatham House): http://www.chathamhouse.org.uk/publications/papers/view/-/id/652/
Peak Oil: A Survey of Security Concerns(Center for New American Security):http://www.cnas.org/node/26
Global Trends 2025: A World Transformed(US National Intelligence Council/Director of National Intelligence):
http://www.dni.gov/nic/NIC_2025_project.html
DCDC Strategic Trends 2007-2036(UK Ministry of Defence): http://www.mod.uk/DefenceInternet/MicroSite/DCDC/OurPublications/StrategicTrends+Programme/
Global Atmosphere Watch Strategic Plan: 2008 – 2015 (World Meteorological Programme United Nations): http://www.wmo.int/pages/prog/arep/gaw/gaw_home_en.html
The Great Transition(New Economics Foundation): http://www.neweconomics.org/publications/the-great-transition
Music by Muse: Exogenesis from album Resistance http://muse.mu/
Duration : 0:10:18
manoftruth predicts future oil prices http://manoftruth.org/
Duration : 0:5:0
More at http://therealnews.com/c.php?c=080601YT
President calls for lifting 27-year moratorium on offshore drilling
Duration : 0:2:3
CHAN:
A militant group leading a violent campaign against oil facilities, has set up camp close to Africa’s largest liquid-to-gas plant and crude terminals. They threaten to attack workers and facilities.
STORY:
These militants pose the latest threat to oil production in the Niger Delta.
The Okoloma Ikpangi group says it will slash output to the barest minimum unless the Nigerian government stops building up its troops in the region. Their commander says it will happen within 30 days.
[Commander Boma, Okoloma Ikpangi Group]:
“To attack these multi-nationals is just our pick. It’s not going to cost us anything. We just wake up one morning, we walk down there and cause any havoc we like inside there.”
The group has set up camp close the site of Africa’s largest liquid-to-gas producer and crude terminals used by several multi-national oil firms.
The militants are affiliated to the main Movement for the Emancipation of the Niger Delta that is behind a campaign of violence against the oil industry in Africa’s biggest-producing nation.
Niger Delta oil workers and facilities are the target for attacks.
The militant factions say they’re fighting for greater local control of resources in the delta where millions live in abject poverty despite the masive oil reserves.
But a breakdown in law and order has allowed criminal gangs to thrive by kidnapping for ransom and stealing crude.
Duration : 0:1:34
Max Keiser talks to Stacy Herbert about China’s gold reverves and the dollar being dumped
recorded on April 25th 2009
China admits to building up stockpile of gold
http://www.financialpost.com/news-sectors/story.html?id=1530063
China has admitted what many gold bugs have long speculated: it’s been stockpiling gold since 2003.
SHANGHAI/BEIJING – China revealed on Friday that it had secretly raised its gold reserves by three-quarters since 2003, increasing its holdings to 1,054 tonnes – or a pot worth about US$30.9-billion – and confirming years of speculation it had been buying.
Hu Xiaolian, head of the State Administration of Foreign Exchange, told Xinhua news agency in an interview that the country’s reserves had risen by 454 tonnes from 600 tonnes since 2003, when China last adjusted its state gold reserves figure.
The confirmation of its surreptitious stockpiling is likely to fuel market talk about Beijing’s ability to buy secretly and its ambitions for spending its nearly US$2-trillion pile of savings. And not just in gold: copper and other metals markets are booming thanks to China’s barely-visible hand.
Speculation has gathered speed over the last year, since the tumbling dollar has threatened to weaken China’s buying power – and give it yet more reason to diversify into gold, oil and metals.
Gold prices jumped on the news of Chinese buying and were up more than 1% on the day at US$912.05 an ounce at 0715 GMT. By a Reuters calculation, China’s holding of gold would be worth around US$30.9-billion at current prices.
That accounts for only about 1.6% of China’s total foreign exchange holdings and is little more than one-tenth of the value of the U.S. gold reserve, the world’s biggest. It also means gold has slipped as a share of China’s total reserves from about 2%, based on end-2003 prices.
Only six countries hold more than 1,000 tonnes, and China is ranked fifth, having leap-frogged Switzerland, Japan and the Netherlands with its announcement.
However, the International Monetary Fund and the SPDR Gold Trust exchange traded fund are even bigger, leaving China with the world’s seventh-biggest pot of gold.
Several gold market participants said they thought China had bought on the international market, helping to absorb hundreds of tonnes sold off by central banks and the International Monetary Fund in recent years.
“China has been buying via government channels from South Africa, Russia and South America,” said Ellison Chu, director of precious metals at Standard Bank in Hong Kong.
But Hu said the increase in China’s stocks was achieved by buying on the domestic market and from domestic producers.
China is the world’s largest gold producer and does not permit exports of gold ingots, only jewellery, leaving plentiful supplies for the domestic market.
China produced 282 tonnes of gold last year, meaning the state bought around one quarter of domestic production, assuming 454 tonnes increase in state purchases were spread out over the six years since China last reported a change in its holdings.
Despite the rumours, buying by the state was partially obscured by soaring demand for gold as an investment, especially after the bursting of the Shanghai stock market bubble last year.
Investment demand in China rose to 68.9 tonnes from 25.6 tonnes in 2007. But that was still less than one third of retail demand in India, where total bullion consumption topped 660 tonnes last year.
Hu said China recently reported the change in its gold holdings to the International Monetary Fund and would include the latest change in central bank reports and balance of payment statistics.
She did not say when China notified the IMF.
Although gold rose after Hu’s comments were published, the price move was not a huge one for the highly liquid market. Prices had jumped by US$13 in the space of an hour on Thursday.
Gold market participants said the news signalled likely further buying by China.
“The comments indicate that China will buy more gold as reserve to improve its foreign reserve portfolio. This is a trend,” said Yao Haiqiao, president of Longgold Asset Management.
Hou Huimin, vice general secretary of the China Gold Association, said China should build its reserves to 5,000 tonnes.
“It’s not a matter of a few hundred, or 1,000 tonnes. China should hold more because of its new international status, and because of the financial crisis,” he said.
“The financial crisis means the U.S. dollar value is changing fast, and it may retreat from being the international reserve currency. If that happens, whoever holds gold will be at an advantage.”
The European Central Bank recommends its member banks hold 15% of their reserves in gold, but among Asian nations the percentage is far smaller, said Albert Cheng, World Gold Council managing director for the far east.
Duration : 0:8:18