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.

Siege of Martin Place an expensive made in Australia tragedy highlights our system failures

So now much of the truth emerges – Sydney siege over as police storm Lindt cafe
Now we find out that the perpetrator was well known to authorities – Sydney siege: Man behind Martin Place stand-off was Iranian cleric Man Haron Monis, who had violent criminal history
So most official information yesterday was misleading.
Should never have been allowed to stay in Australia.
Should never have been out on bail.
Should have been fitted with a GPS tracker device.
A saga of system failure.

Lima climate talks decide to meet again in Paris next year – looks to me like a triumph for the Australian position

For the umpteenth time over the decades these money wasting UN IPCC climate talks fail to agree on anything meaningful – only to meet again at some expensive location – global airlines cheer. With China increasing emissions until 2030 at least – and India, rest of Asia plus 3rd world trying to catch China – nothing much anybody else does means squat. In the meantime – in the real world – oil prices are crashing making it cheaper to contribute carbon dioxide plant food into the global carbon cycle.

December has been a fail for BoM 70% prediction of El Nino as SOI rises and eastern Australia gets rain

For all of 2014 now an assortment of warmists have sounded fanfares about the upcoming El Nino – even “Super El Nino” – prayer mats out begging the weather gods to deliver them a year hotter than 1998. But both the 30 & 90 day SOI has been rising for a month – nothing is surer than another El Nino will lurch onto the stage sometime – just has not obliged warmists by turning up this year. Rain for December.

No evidence of warmer summers from Wollongong City Council swimming pool attendance figures

I saw this news about repairs to the ocean pool at Austinmer north of Wollongong. I have been interested for a while in the issue of the height of the oldest ocean pool walls and how they might relate to historic survey heights and modern survey heights – on the basis there should be another line of evidence here establishing the rate of sea level rise over a century or more.
Wollongong City Council have www page about their pools and there is a downloadable 9 page pdf report – Future of Our Pools Strategy 2014-2024 –
I thought – surely there must be comments here about sea level rise. Not so – not a word about sharks hoiking themselves over the walls during King tides and carrying off the odd swimmer. But I noticed this gem at the end of a string of bullet points on page 7 –

And earlier in the report was this graphic showing declining attendance figures –

All seems logical to me.