Category Archives: Resources

US Senate quietly and quickly extends taxpayer protection to giant bank Citigroup

Dear old Citigroup – key at the formation of the deceptively named US Federal Reserve in 1913 – played its role in the 1929 and 2008 crashes – biggest ever recipient of taxpayer bailout funds – and now with its hand in taxpayers pockets again. Pam Martens reports – Meet Your Newest Legislator: Citigroup and Alasdair Macleod relates this new legislative move to the truly colossal global derivatives market which he reports amounted to $691 trillion at the end of last June, about nine times the global GDP. Digest the implications of that. I wonder what the collapse in the oil price will do to derivatives?
And I wonder how deep Citigroup is into carbon derivatives?

Australian petroleum consumers shafted for years as Govts fail to ensure a fair fuels retail market

As world oil prices plummet big oil must be chortling as they are able increase their margins – politicians gone for the holidays and consumers preoccupied with Christmas. This graphic shows how Canberra ULP pump prices have been slow to follow Sydney and Perth down, in our Capital under the noses of politicians we elect to look after our interests.

I remember the considerable news comment recently critical of the Fed Govt increasing petrol excise by a fraction of a cent – yet there is near silence at the ripoffs every day at the pumps.
The so called fuel price cycles are completely the creatures of big oil – tailor made to keep the markets confused and let them hike prices at will.
Price data from NRMA and FuelWatch in WA. WW is Woolworths and Warnbro is a Perth suburb south of Rockingham.
I see where the ACCC are going to report on prices quarterly. On past performance what an utter waste of time and money that will be. The ACCC might posture but the pricing caravan will have always long gone moved on. Australian petrol consumers deserve an official source – say a Govt web site publishing a suite of downloadable daily price tables and graphics to help keep the entire market transparent. Do not hold your breath.

US Senate investigation exposes how JPMorgan gamed $Billions out of California electricity consumers

Why would we be surprised at $Billions being ripped of power consumers by Wall Street insiders – “Wall Street On Parade” reports JPMorgan Rushed to Hire Trader Who Suggested on His Resume That He Knew How to Game Electric Markets – Note that this ripping off of electricity consumers was only detected during other Senate investigations.
This is one of the reasons many sceptics oppose carbon pricing in its various forms – that it will inevitably lead to sharp practices, illegalities and rorting of the system at the expense of mug taxpayers.

Saudis oil pumping crashes oil price kneecapping the Iranian economy – how do the Teheran Mullahs pay to build those nukes now?

World oil price collapsing 28 Nov 2014 –
We have all seen the news a week ago how the West plus Russia and China agreed to delay until mid-2015 talks over Iran’s nuclear production capabilities. – Iranian nuclear negotiations deadline postponed
The West is so weak the Iranians would be laughing if it was not for vanishing oil export income constraining their violent National ambitions. The Russian Ruble is not being helped by the oil price either. Russia Warns Of Recession Next Year
Meanwhile the IAF will be reviewing and improving its future mission.
David Archibald’s new book – Twilight of Abundance – has much of interest on Iran who must import food to feed its population – how is that going with oil prices rooted? The Saudis ability to pump oil at these prices confirms them as the powerbrokers in the middle east. Currency charts from

Brilliant Agora Energiewende online graphic display of German electricity generation

Look at the pathetic contribution of wind and solar recently – Agora Energiewende

In July solar was better of course but wind was a lot worse – you can check any period.
No wonder many western economies are near moribund after wasting squillions on dud technologies thinking they would produce “low carbon” electricity in a way acceptable to the population. Amazing that people still vote Green or Left. Deluded. I read where members of Merkel’s cabinet have the common sense to see the train-wreck coming. Germany abandons their climate target, as their Chancellor sings to the crowd

Media around the Brisbane G20 hyperventilates about “climate change” but never mentions the plunging oil price

The world oil price has plunged 16% since the start of October – which must be a boost to many near moribund G20 economies. Yet the media mostly ignores this.
Facts are that cheaper oil plus recent changes in the makeup of the US Congress makes it less likely that any hand wringing hopes for deep emissions reductions will be honoured.

Why are we wasting $Billions on “Carbon Farming” when Australia is naturally sequestering all our emissions without any human intervention ?

The ABC Landline had a segment – Carbon Farming – interviews with rent seekers claiming $Million dollar benefits. CSIRO has known for decades that “The present modelled rate of net sequestration is of a similar magnitude to CO2 emissions from continental fossil fuel burning and land clearing combined.” That is from the early 1990’s.
Now CSIRO knows even more
Increased levels of carbon dioxide (CO2) have helped boost green foliage across the world’s arid regions over the past 30 years through a process called CO2 fertilisation, according to CSIRO research.- 3 July 2013

So why are we wasting megabucks paying a tiny minority of landowners to sequester carbon when our entire continent is naturally doing it for free anyway?

Australian fuel cell company attracted by the German Energiewende

The ABC reports that ASX listed fuel cell company Ceramic Fuel Cells Limited (ASX – CFU) with origins as a CSIRO spinoff is headed to find its place in the sun as a part of Energiewende. – Germany’s renewable energy incentives and regulations attracting Australian companies
One of their products is BlueGen a gas fired fuel cell, they say –
BlueGen can be installed on-site in your home or business. It contains standard connections and operates with virtually no noise. Key benefits include:
Up to 36 kilowatt-hours of electricity per day
200 litres of ‘free’ hot water per day
Carbon dioxide savings of up to 14.5 tonnes per year
Unconstrained by seasons or weather
Simple installation with standard connections
Integrates easily with renewable technologies such as solar PV or solar thermal hot water
Constantly monitored by advanced fault detection technology

All sounds good. Here is the CFU share price history – a great thing about the ASX is that all regulatory filings and company announcements are easily searched and downloaded as pdf’s.