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a community peak oil portal
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| Economy may disrupt candidates' energy plans |
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vox_mundi writes: ... The price of energy - from soaring electric bills to pain at the gas pump - remains a central issue in the presidential election, but the candidates' ability to address it at a time of c remains a source of considerable debate.
With a lockup of credit markets, increasing unemployment and a soaring national debt, the economy has already far eclipsed new energy initiatives in the minds of voters. What's more, paying for candidates' wish lists, including new nuclear plants, wind farms and solar energy, may be hampered by a $10-trillion national debt that could grow by another $700 billion once the bailout package begins dispensing taxpayer cash.
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| In bad economy, power cutoffs soar |
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COHOES, N.Y. - The number of Americans whose electricity or gas has been shut off for nonpayment of their bills is up sharply in many parts of the country as people struggle to cope with higher prices and a shaky economy.
Shut-offs have been running 17 percent higher than last year among customers of New York state's major utilities, and 22 percent higher in economically hard-hit Michigan. They are up in all or part of dozens of other states, including Pennsylvania, Florida and California, according to an Associated Press check of regulators and energy companies.
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| Tropical storm Marco forms near Mexico oil fields |
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MEXICO CITY (Reuters) - Tropical Storm Marco formed on Monday in the southern Gulf of Mexico in the vicinity of Mexico's main oil production facilities but the country's three main oil exporting ports remained open.
The small 100 km (60 mile) diameter storm, which brewed up quickly on Monday, was 185 km (115 miles) east of the city of Veracruz as of 1800 GMT, the U.S. National Hurricane Center said.
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| Living in the New Depression |
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vox_mundi writes: History repeats itself in many ways, but oftentimes the parallels we seek to draw from past events are not so neatly drawn. How we got into the New Depression; what it means to you and your lifestyle and how long it will last are very relevant questions, and for perhaps the first time in history, because of film, we have some insight into living through such times. First, though, here is why it is a Depression, and not - contrary to the mainstream meme - a Recession: In a Recession, unemployment and inflation are high, the market drops, but investors run into commodities and bonds.
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| Pakistan facing bankruptcy |
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vox_mundi writes: Pakistan's foreign exchange reserves are so low that the country can only afford one month of imports and faces possible bankruptcy.
Officially, the central bank holds $8.14 billion (£4.65 billion) of foreign currency, but if forward liabilities are included, the real reserves may be only $3 billion - enough to buy about 30 days of imports like oil and food.
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| Army unveils new Stability Operations manual |
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vox_mundi writes: The commanding general of the United States Army Training and Doctrine Command, Gen. William S. Wallace, unveiled new Army doctrine today, Oct. 6, at the annual meeting of the Assoc. of the U. S. Army in Washington. The new stability operations manual, Field Manual 3-07, puts stability operations into doctrine after it was recently introduced in FM 3-0, Operations, where its importance was elevated to the same level as offensive and defensive operations.
Today, our nation faces an environment of persistent conflict and uncertainty. The character of this environment is unlike any other in recent American history, where military forces operating among the people of world decide the major battles and engagements. Here, the margin of victory is measured in far different terms from the wars of our past.
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| Bill McKibben - Meltdown: A global warming travelogue |
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For a long time - the first 15 years that we knew about global warming and did nothing - there were no pictures. That was one of the reasons for inaction.
Climate change was still "theoretical," the word that people in power use to dismiss anything for which pictures do not exist. It is the reason we don't see shots of coffins coming back from Iraq; it's the reason the only prison abuse we really know about was at Abu Ghraib. Without pictures, no uproar; not in a visual age.
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| Energy's Future in Latin America |
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New Study by Bracewell & Giuliani and Business News Americas Forecasts Region's Prospects and Challenges
WASHINGTON (BUSINESS WIRE) -- Peak oil in Latin America is less than 10 years away; energy integration, nuclear power plants, and large-scale renewable power generation are necessities to ensure sufficient energy supplies in the future; the region's governments should play a stronger role in their respective energy sectors; and Latin America and the Caribbean are ripe for business. These are the significant findings of Bracewell & Giuliani and Business News Americas' Energy Outlook 2008, which surveyed energy company executives from various countries throughout Latin America.
Making this survey unique was that it distinguished findings between the countries surveyed. Respondents from Brazil, Colombia, Chile, Peru, Argentina, Mexico, Central America, Uruguay, Paraguay, Venezuela, Bolivia, and Ecuador were posed a variety of questions concerning the prospects of the energy market in Latin America.
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| Oil tumbles to 10-month low below $88 |
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NEW YORK (CNNMoney.com) -- Oil prices tumbled below $88 a barrel Monday, nearly a 10-month low, as banking turmoil in Europe exacerbated fears that a global economic slowdown will crimp demand for oil and gas.
Crude prices were also pushed lower by a stronger U.S. dollar and weakness in world stock markets.
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| The Borg: A Financial Allegory |
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profgoose writes: The Borg is a hive-like hybrid swarm of humanoid species, turned partially robotic. They are distinctly goal oriented towards “assimilation” of all other humanoids and press themselves relentlessly with the creepy mantra “Resistance is futile.”
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| Shanghai highrises could worsen threat of rising seas |
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SHANGHAI (Reuters) - Shanghai, China's most populous city and an aspiring global financial center, is also among the world's most vulnerable urban areas to a rise in sea levels as global warming melts polar ice.
Its location on a low-lying alluvial plain near the mouth of Asia's longest river, the Yangtze, had already left it prone, but researchers warn that forests of skyscrapers sprouting across the ambitious metropolis could compound the threat by causing its marshy ground to sink.
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| Four Crises of the Contemporary World Capitalist System |
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... The final and perhaps greatest crisis is that of the availability and distribution of such critical resources as oil, food, and water. The sustainability of human life is simply not consistent with inherently wasteful capitalist growth.
The International Energy Agency’s World Energy Outlook tells us that 50 percent more energy will be needed in 2030 than in 2005 (after adjusting for efficiency improvements) and that almost three-fourths of this increased demand will come from developing countries, with China and India alone responsible for 45 percent of the increase in demand. After 2015, China is expected to be the planet’s biggest carbon dioxide emitter, ahead of the United States, followed by India as the third largest emitter. (Other studies show China is already the biggest contributor of greenhouse gases.)
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| Commodities R.I.P. as Leverage Vanishes, Growth Slows |
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(Bloomberg) -- Commodities markets are heading for the biggest annual decline since 2001 as investors exit leveraged bets and slowing economic growth erodes demand for raw materials.
The value of the 19 commodities in the Reuters-Jefferies CRB Index fell $280.6 billion, or 43 percent, from its July 3 peak, a loss larger than their total worth two years ago, data compiled by Bloomberg show. UBS AG, the Zurich-based bank that bought Enron Corp.'s energy unit in 2002, plans to exit most commodity trading. About 15 percent of investors in Boone Pickens's BP Capital LLC hedge fund may want their money back.
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| Reliant to Review Options After Losing Half Its Value |
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(Bloomberg) -- Reliant Energy Inc., the owner of power plants in nine U.S. states, said it will explore strategic alternatives after losing more than half of its market value last week.
Morgan Stanley and Goldman, Sachs & Co. will serve as financial advisers for the review, which will look at all options for enhancing stockholder value, Houston-based Reliant said today in a statement. The company's shares plunged 54 percent last week after Reliant cuts its profit projections and arranged $1 billion in new financing.
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| Russia's warships head for exercise with Venezuelan navy |
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Russia displayed its military strength in the Mediterranean yesterday after warships heading to Venezuela passed through the Strait of Gibraltar in the second deployment of Russian naval vessels in the waterway since the Cold War.
The nuclear-powered missile cruiser Peter the Great, accompanied by the Admiral Chabanenko, an anti-submarine destroyer, as well as a reconnaissance vessel and a support ship, are destined for a maritime exercise with the Venezuelan navy.
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