Posts Tagged ‘Business’
Michael Sainsbury, China correspondent
Nothing too unusual about that. His company, China Metallurgical Group Corporation (MCC), has built most of the latest mills in China. But the latest project Shen is eyeing is in Western Australia.
Shen’s problem is he wants to build it cheaply and quickly, something he can only do with imported Chinese labour. To underscore the capabilities of his company, China’s largest industrial infrastructure builder, he upped his offer by saying he could build a city in the Pilbara that could house 400,000-500,000 people.
“Labour is a key issue for us,” he told the Australian China Business Council (ACBC) Business Dialogue in Shanghai last week. “The facilities in Australia mining areas are often inadequate. We could build a town for 300,000-500,000 people with proper facilities,” he said, indicating this would help mining companies better exploit the vast resources in the region and add to Australia’s wealth. The idea would be to bring in cheap Chinese labour purely for the building period, then hand it over to Australian operators, leaving legacy infrastructure for decades ahead.
Baltic Dry Index hits lowest level for 13 months
THERE are fears the long-anticipated crash in the dry bulk market has arrived, as the Baltic Dry Index freefall continued for the 30th consecutive day to its lowest level in 13 months, as shipowners prepared to take delivery of record numbers of new panamax and capesize bulk carriers in the second half of 2010.
“I think it could get fairly ugly,” said a prominent Europe-based operator of dry bulk tonnage, who declined to be named.
“Percentage wise, [rates] can probably come off another 50%, to a bit above operating cost levels,” he added, with stronger demand for dry bulk commodities only to return with cheaper transportation costs.
Declining shipments of iron ore and coal to China (which employ nearly half the world’s bulk carrier fleet) have seen panamax and capesize earnings collapse in the past six weeks, losing around 65% in value.
Capesize rates alone on the major Brazil-China route today fell to under $30,000 per day, compared with nearly $84,000 per day in late May.
Darkening an already bleak picture is what some analysts are calling a tsunami of newbuilding tonnage against a deteriorating outlook for commodities shipments forecast to rise 8% to 3.2bn tonnes this year.
Some 23 capesize vessels are set for delivery each month until the end of the year, according to fresh forecasts, which allow for 20% to be delayed. That compares with average monthly deliveries of 16 in the first five months of 2010, which saw the fleet grow by more than 23%, to over 1,000 vessels.
I guess it obviously helps to have a “team”…lolll…Most of this info is already here on PWA but not put together chronologically…The SEC HAD a site where one could watch insider buying and selling…Early on when I went to verify that shares had indeed been sold the side had in effect been taken down…I subscribed to this site and received email alerts on certain stocks I was watching….The moment I saw that it had “in effect” been taken down, that was confirmation enough for me there was info nobody wanted the public to see!!!
I went through most of this info last night on twitter and quite a few people chimed in…They are very ANGRY…Keep the pressure on folks…End game~just another transfer of wealth and fitting the agenda for Climate-gate.
~jude/rockingjude
Gulf of Mexico. Chronology of a Catastrophe.
As we speak, the oil in the Gulf of Mexico still spews. As a matter of fact, it is flowing wide open. Yesterday, they removed the second dome they had said was there to contain the flow. They say the replacement for this one will be attached in four to ten days. You would think they they would have the replacement dome available before they remove the current one, but that is not the plan.
We mentioned in our article “Bombshell Expose’”, there is evidence these domes are a research experiment intended to collect methane crystals and data, not necessarily to contain the flow of oil and gasses.That is definitely part of it, judging by the live feed. A lot of instruments, meters and what appears to be memory cards, as well as the admission the dome has Methane Crystals building up inside. The article about Carbon storage and the need to research Methane Crystals being done at UChicago Argonne, indicates this is the opportunity to collect those Crystals.
It was also the opportunity to use the stockpiles of Corexit dispersants.
All the usual big players and a few radicals with start-up companies made fortunes on all ends of this disaster, from stocks, to clean-up and biofuel investments, Federal grants and Obama’s agenda included.
There were multiple agencies, both Federal and private who neglected or purposely overlooked warning signs. Many who were entrusted with inspection and oversight never even read the permit application, or design. They subbed out inspections to companies who did not have the capabilities to carry out an inspection.
The Gulf itself is targeted to be an Algae farm and all the big players are now rushing into start-ups and investing in biofuels.
Our oil, refining, gas and coal industries are under attack. He is not transforming the world off of fossil fuels, just the USA. O is contributing to offshore drilling, refining and mining in other countries. He is redistributing our wealth. Not among Americans, though. He’s transferring out of the country to Brazil, Venezuela, Nigeria, China, Russia, Indonesia & other “less fortunate” countries.
Before I get ahead of myself, I’d like to put the events in a chronological order, from beginning to current.
The team and I have been very busy.
The mystery of Eugene Island.
Eugene island is a submerged geological feature like an underwater mountain 80 miles off the coast of Louisiana. The landscape is littered with deep fissures and faults which gush large amounts of oil and gas. A platform named Eugene Island 330 was producing 15,000 barrels of oil in the early 1970′s. By the late 80′s, the flow has reduced to 4,000 barrels a day. Then suddenly a mysterious thing happened. Production at Eugene Island 330 suddenly jumped back to 13,000 barrels a day. The reserve was refilled just like that. It is estimated the reserves went from 60 million barrels to 400 million barrels in a few days time. Something very strange is happening under the Gulf of Mexico.
What happened at Eugene Island supports the growing theory that oil is renewable from deep Earth processes. But don’t let the general population know this. This aids to explain why the Middle East oil feilds seem to be inexhaustable.
Scientists noticed oils chemical composition did not change as fossil records had changed. Many scientist now believe oil is not created by decomposing remains of life since areas of very different ecospheres are producing oil of equal composition.
But there is much more to talk about the new discoveries of deep oil. Something very dangerous lurks in the Deepwater Horizon oil spill. Keep in mind the reserve Deepwater was drilling happens to be the deepest offshore reserve to date. Also keep in mind how we learned oil is sourced from deep below the Earths crust. Further down then mankind has been able to study and observe.
Helium is a naturally occurring gas formed in oil reserves. So common that helium detectors have been used to discover oil reserves. Helium is an inert gas known to be a by-product from the radiological decay of uranium and thorium. Uranium and Thorium are known to be in great quantities at greater depths. Yes, radioactive elements occur naturally and can be found and detected in trace amounts in shallow oil reserves. Oil reserves that do not produce large amounts of methane also lack uranium and thorium. The presence of methane is proportional to the presence of uranium and thorium, both radioactive elements.
Yes, you read that correctly! The more methane that is present reflects the amount of Uranium and Thorium in the poil reserve. The deeper the oil, the younger the radiological decay is that produces helium. The Eugene Island 330 rig was replenished showing deep oil is resupllying the more shallow oil reserves in the Gulf of Mexico just off the coast of Louisiana.
[link to www.sanfordundergroundlaboratoryathomestake.org]
“The energy coming from uranium and thorium decay is thought to be the most significant energy source inside the earth,” Tolich said. “So this is the driving engine for things such as tectonic plate movements, volcanoes and earthquake. We are looking for neutrinos, particularly electron antineutrinos … coming from uranium and thorium decay inside the earth. The uranium and thorium is distributed all through the earth in the mantle. One part in 10 million of the earth’s mass is thought to be made of uranium and thorium.
That is correct! There is a large feed from Deep Earth just off the coast of Louisiana. Does this ring any bells? Give you the idea of the scope of the disaster yet?
Deep Earth oil is flooding to the surface and it is contaminated with uranium and thorium. During the Gulf War the Gulf Syndrome is speculated to be caused by the expulsion of Uranium and Thorium from the wells opened up by Saddam Hussein. Similar symptoms of illness are now beginning to occur at the Deepwater Horizon spill site and the resulting oil slick.
It is my conclusion the oil from Deepwater is Deep Earth oil with elevated levels of radioactivity from Uranium and Thorium that hasn’t had the time to decay.
BELOW…from the epa.com
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The geologic formations that contain oil and gas deposits also contain naturally-occurring radionuclides, which are referred to as “NORM” (Naturally-Occurring Radioactive Materials):
Geologists have recognized their presence since the early 1930s and use it as a method for finding deposits (Ma87).
Much of the petroleum in the earth’s crust was created at the site of ancients seas by the decay of sea life. As a result, petroleum deposits often occur in aquifers containing brine (salt water). Radionuclides, along with other minerals that are dissolved in the brine, precipitate (separate and settle) out forming various wastes at the surface:
- mineral scales inside pipes
- sludges
- contaminated equipment or components
- produced waters.
Because the extraction process concentrates the naturally occurring radionuclides and exposes them to the surface environment and human contact, these wastes are classified as TENORM.
On this page:
How are drilling wastes produced?
BY: Henry Oliner
When citizens expect higher taxes and inflation they will shift from financial assets to tangible assets. One can enjoy jewelry, real estate, antique cars, new furniture, vacations, boats, art and collectibles without having to pay tax on their enjoyment and can feel wealthier as their tangible assets inflate in value tax free (at least tax deferred if they ever actually sell it).
Higher taxes on investment income will surely drive more money into tangible assets. Expectation of higher inflation will increase the diversion. Inflation and taxes are two sides of the same coin; one monetary and one fiscal. Both induce one to work and produce less. Inflation pressures quick consumption and the acquisition of tangible assets to avoid the loss of monetary value.
Financial assets are an investment in the future; tangible assets are an investment in today. Driving money out of investments for future growth into tangible assets hurts economic growth and retards long term thinking, a hallmark of both a civilized society and economic growth.
Not only is the enjoyment from tangible assets not taxed, it is not considered when we measure the equality of income distribution in America. This is why there was a growth in income inequality after the Reagan economic revolution, and this is also why it was not a bad thing.
As a result of lower taxes on financial assets and the lowering of inflation under Reagan vast amounts of money flowed out of the tangible assets where they were not counted and into financial assets where they were counted. The financial assets created economic growth and jobs which drove unemployment down from their stagflation highs under Carter.
If Obama and the Congress succeed in raising taxes and igniting inflation we will see a shift back to tangible assets at the expense of a growing economy. He will have succeeded in reducing income inequality and we will all be worse off for it.
From David’s Desk
www.MilesFranklin.com
“Ownership of gold means you are your own central bank.” Jim Sinclair
On Monday, Richard Russell warned that the market was in very dangerous territory and that the Dow was flirting with danger as it approached the break-down from a long-building head-and-shoulders formation. Support was around 9800. Today, the Dow was down 268.22 to 9870.30. Here is Russell’s chart, once again. You can visualize what he is referring to…
What he wrote is so important; I will show it to you again. He said:
Why do I think the stock market will be so rotten? Here’s why. Look at the chart of the Dow in the current issue of Barron’s. Or study the chart of the Dow below. If this isn’t the mother of all head-and-shoulder top-formations, I’ve never seen one. If this formation falls apart, I expect the break to signal the start of a brutal decline in stocks. The first area of support is Dow 10,000. The base of the entire formation comes in at Dow 9800. If the formation breaks down, I think all previous plans, scenarios and strategies will hit a stone wall. Wall Street and public sentiment will turn black-bearish. Consumers will head for the storm cellars and once in, they’ll shut the door above them and lock it.
Another day like today and the Dow will breach the neck-line support at 9800. Why is that so important? Because most of the action in the stock market is program trading by large funds. Their computers are programmed to buy and sell at certain strategic points like moving averages, previous highs and lows and Fibonacci points. Whether this information is actually significant is not important. What is important is that the funds and their computers think it is and act accordingly. A break-down from a long-term head and shoulders is a big sell signal to most of the computer algorithms. It is like fulfilling your own prophecy. They expect the market to continue to fall, so they sell which forces the market lower which re-enforces the validity of their programmed trading platforms. Once this waterfall drop starts, it can go a LONG way. This is what Russell is alerting you to.
I have to say and have many articles here on PWA that Russia has shown there is an abundance of oil at the deeper depths…In fact it’s how they have become the Oil Czars…It has been found that the oil extracted at such depths does everything to disprove almost everything we had always thought about oil. It is in fact, not a fossil fuel because below the shale where it is found to be plentiful is before fossils. AND it is renewable…
Reexamining these things brings us to several conclusions…One, we are not in the oil crisis that everyone would have us believe and two, that the volcano of oil from the gulf will be close to being unstoppable…
In light of this we then can also come to a couple more conclusions:
- That drilling at those depths should have had extra safety precautions…
- The “Every unforeseen occurrence can’t be planned ahead of time”, in my books doesn’t cut it…
- And lastly we have been grossly lied too about our resources…
One can not simply shut down drilling as all big industry has to run on it until alternative sources can be found. Any country can drill OIL 50 miles from our shoreline…So if we don’t someone else [probably China] will. This is unacceptable…BP in a mostly UK owned company and should be made responsible for this mess, however they also were big contributors to the Presidential campaign… And there you have it…….
~jude/rockingjude
Documents show the UK government ignored risks in subsidising oil extraction from nearly 2,000m deep in Atlantic waters
The Petrobras P-52 oil platform in the Campos basin, 125km off the coast of Brazil. Photograph: Marco Antonio Teixeira/Globo/Getty Images
The British government is subsidising one of the world’s largest and riskiest oil-drilling projects in the Atlantic Ocean and would be liable for tens of millions of pounds if a major accident took place.
Documents seen by the Guardian show that UK trade ministers underwrote loans taken out by the Brazilian state-run energy company Petrobras in 2005 in order that Rolls Royce and other companies could contribute to the building of the giant P-52 platform.
Geiger Counter Results On Gulf Oil – Vid rense.com
This is going to blow the roof off of the scope of this disaster. This is why people are getting sick. This is why they are using Corexit in such quantities, this is why there aren’t many ships out there. The radioactivity is beyond safe levels.
Remeber ‘Alas, Babylon’ while you read. Lets first start with Eugene Island 330. The mystery of Eugene Island. Eugene island is a submerged geological feature like an underwater mountain 80 miles off the coast of Louisiana. The landscape is littered with deep fissures and faults which gush large amounts of oil and gas. A platform named EugeneIsland 330 was producing 15,000 barrels of oil in the early 1970′s. By the late 80′s, the flow has reduced to 4,000 barrels a day. Then suddenly a mysterious thing happened. Production at Eugene Island 330 suddenly jumped back to 13,000 barrels a day. The reserve was refilled just like that. It is estimated the reserves went from 60 million barrels to 400 million barrels in a few days time.
Something very strange is happening under the Gulf of Mexico.
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