Once upon a time, Gross National Product (GNP) meant the goods and services that a country produced. But as our economy shifted more toward government and away from the free market, more of the total economy came under the control of the government. So the government changed the definition.
The opening riposte came from the Bank for International Settlements, the “bank for central banks.” In their annual report, released this week, they talked about “euphoric” financial markets that have become detached from reality. They clearly – clearly in central banker-speak, that is – fingered the culprit as the ultra-low monetary policies being pursued around the world. These are creating capital markets that are “extraordinarily buoyant.”
Central Bank Smackdown Read More »
Violence in Mexico could thwart hopes of a budding shale boom, as oil and gas companies operating in Texas may think twice about moving south of the border.
Could Gang Violence End Mexico’s Shale Dream? Read More »
The world currently consumes roughly 82 million barrels of oil a day. These five oil fields produce roughly 9.5 million barrels a day with West Qurna hoping to increase production by another 2 million per day. So together they currently produce about 11% of the total world consumption. If production is increased as anticipated they could be producing as much as 14% of world consumption.
The World’s Five Most Important Oil Fields Read More »
Several of the largest oil companies in the world are doubling down in Russia despite moves by the West to isolate Russia and its economy. ExxonMobil and BP separately signed agreements with Rosneft – Russia’s state-owned oil company – to extend and deepen their relationships for energy exploration. The U.S. slapped sanctions on Rosneft’s CEO
Exxon and BP Defy White House Read More »
The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping
Bursting the California Shale Bubble Read More »
A major gas deal between Russia and China could finally be sealed this week when Russian President Vladimir Putin visits China on May 20-21 and meets with President Xi Jinping. In the lead up to Putin’s arrival, the two sides have been working on putting the finishing touches on a 30-year contract for a gas
Russia’s Weakened Hand Could Pay Off For Beijing In Major Gas Deal Read More »
By Marin Katusa, Chief Energy Investment Strategist On July 1, 1911, a German gunboat named Panther sailed into the port of Agadir, Morocco, and changed history. For the previous two decades, a faction within the British Admiralty had called for the navy to switch from coal-fired ships to ones powered by a new fuel. Admiral John Fisher,
How a Big Cat Started Europe’s Addiction to Oil Read More »
The FED Thinks it has a “Magic Wand” that can boost the economy and solve all of our country’s problems. But as interest rates near zero… Housing is a major portion of GDP and lower interest rates make housing more affordable, thus boosting the economy but there is an actual limit to how low-interest rates can go and a theoretical limit to how long they can stay at zero.
Yellen’s Wand Is Running Low on Magic Read More »
Riddle me this: Why would anyone ever buy junk bonds or a junk bond fund? Before we get to the answer, I would like to point something out that seems to be a given, but that astonishingly few investors think about: bonds are debt instruments, so investing in bonds means investing in debt, governmental or corporate.
How to Find Junk Bonds That Don’t Stink Read More »
