Twin Chinese devaluations – we live in interesting times

CNY vs USD and AUD vs USD – What are the likely effects of this? Bloomberg has a lot of articles here.
Chinese exports will be cheaper –
But China still has to buy raw materials mostly priced in US$.
Is there a move already I wonder for China to pay for its imports in other currencies or barter?
Will not help China build their oil stockpile. WTI crude price (bottom right at Kitco) has been little affected at around $43.xx over the days of the Yuan moves. With Iran poised to enter the oil market more openly – IMHO that has to be bearish for oil.
Coal imports will be more expensive.
Can we assume the PBOC will fiddle more with the exchange rate to achieve their aims – IMHO that is the signal.
Will not help the US “recovery”.
Could it be the start of competitive devaluations?
I see gold had a positive night in the face of gold becoming more expensive in Yuan.

Lame-duck incompetent Australian Commonwealth Government

I wonder what readers think. On the very day the TURC was exposing corrupt CFMEU officials in Canberra – the Choppergate story broke leading to weeks of free kicks for Labor. Now the Federal Court blocks the Adani coal mine in Queensland on grounds the Federal Environment Minister did not adequately consider the effect of the project on a skink and a snake. I read somewhere where this could be rectified in a couple of months. We will see. The Prime Minister has commented on the court decision saying it is “bad for the country” – however it seems clear the Senate is unlikely to pass any laws making environmental legislation less able to be exploited by Green zealots. Wait for climate to be brought into this.

Rare sight on USGS web page as Australia stars in global earthquake stakes

This is the rare sight preserved. USGS map below has seafloor details with no shortage of large scale structures and volcanic seamounts out there off Fraser Island – any of which could be locii for earthquakes.

USGS www page global map – zoom in to SE Qld.
ABC News – Queensland earthquakes: Two quakes hit state on same day, days after a third strikes region; seismologists warn more may follow

What impact will Tesla Powerwall batteries have on the way we consume electricity and the price of lithium?

Reader Bob has sent me articles about the Tesla electric car and the Powerwall and Powerpack storage batteries to be manufactured by Tesla. Alan Moran has written on the Tesla electric car so I thought I would look at lithium batteries state of play and lithium prices, demand etc, whatever I can glean. There are articles boosting the Tesla Powerwall batteries and also articles more realistic. I would have thought that with Tesla and others battery production ramping up there would be a surge in demand for lithium. Yet looking at the price chart for the Nasdaq Lithium ETF – nothing much is happening – the price of LIT has halved since 2010. OK maybe this has nothing to do with lithium. Lets check a couple of lithium miners on the ASX – Orocobre Ltd extracting lithium from brines in Argentina and Galaxy Resources Ltd who mine lithium in Australia.
What can we draw from all this? Is there a boom in production of household scale lithium based batteries in motion? Or is there simply much Green hype? Have any readers ordered and paid for Powerwall batteries?

Senator Mark Butler addresses many empty seats on Environment at Labor Conference

Shows the great concern Labor has for the environment. Around 2pm Saturday I saw on ABC News24 TV Senator Mark Butler addressing the Labor Conference on environment while many seats (75%) in front rows were empty. Has a picture survived online anywhere? I dived for the camera but the scene later was obstructed by a caption. Also heard him saying how the CFMEU were great environmentalists.

Global warming causes too much ice in Hudson Bay in July!!

Canadian Broadcasting Corporation finds thick sea ice in July stops their polar expedition. The CBC is I assume the Canadian = to the Australian ABC – in April they announced – Icebergs, melting ice to be studied by Arctic expedition leaving from St. John’s – now it is – CCGS Amundsen re-routed to Hudson Bay to help with heavy ice Worst ice conditions in 20 years force change of plans to icebreaker research program
Its disgusting – thick ice in July.
And a reminder from the BBC of what happens in the Med when Senator Sea Patrol – is not around.
Mediterranean migrant crisis: Dozens ‘drown off Libya’
Throughout history people not properly prepared for the sea have often come to harm.

Was the automating of Australian lighthouses in the 1990’s a policy stupidity ?

Just thinking back to the de-personning of our lighthouses – what net money was saved? – Wondering how useful it would be to have human surveillance at those site now with all the emphasis on border protection, not to mention preventing smuggling and the odd search and rescue event etc.
There has been a negative effect on temperature data – just look at the Cape Otway 90015 record and see the gaps and data degradation after the introduction of AWS in 1994.
And this a world heritage science observing site from the late 1800’s.

Primarily exposing faulty methodologies behind global temperature trend compilations