h/t Gates of Vienna
Norwegian energy giant Statoil confirmed Friday that a large new oil discovery in the North Sea announced earlier this year is twice as big as previously thought.
The giant Aldous Major South field is estimated to contain between 900 million and 1.5 billion barrels of recoverable oil equivalent (boe), or double the 400 to 800 million boe previously announced, Statoil said.
Continued on Page 47
#1
Nonsense! We all know Peak Oil™ was reached 102025whenever years ago.
Posted by: Barbara ||
10/22/2011 8:54 Comments ||
Top||
#2
That's money in the bank. Boy those fossil things are everywhere. I wonder what fossils were on Titan to produce so much oil. I am a long time believer that oil is a renewable natural resource(abiotic bacterial conversion). Not a fossil fuel. Norway is also helping Brazil develop their massive find. Brazil is even talking about and undersea city to work the trillions of barrels they have off their coast.
#3
Saudi known reserves have only increased according to their estimates. Even after all these years of production. I am not inclined to believe them however.
h/t Gates of Vienna
An economic survey has found that German business confidence has fallen for the fourth month in a row. The drop came after Germany lowered its growth forecast for 2012 amid the escalating eurozone debt crisis.
Continued on Page 47
As with any disaster, humans regularly turn to God for help and it seems the Greek government is no different
The Greek Orthodox church Greece's second largest landowner after the government has come under fire for not paying enough in taxes on its assets.
One group to join the protests in Athens against austerity measures is Make the Church Pay. Its members are fed-up with the inadequacy of the church administration to support their country in its hour of need. A similar Facebook group Tax the Church has 100,000 supporters.
"They simply don't pay. They are so rich, and yet their contribution is minimal," says Theodora, one of the protesters.
Continued on Page 47
#1
20-50% write off for Greek bond holders. Soon to to happen. Italy is not far behind. Market is enjoying a false hope of recovery. What has been fixed?. When the shoe falls our Fed will ride in to rescue. Tremendous pressure on Ben to have things look good at election time. He has to hold out as long as possible to make this work at the right time. Each fix doesn't last as long as the previous one. In election times, business always drops for most in business, in my opinion.
#4
It's starting to become clear now. Why did Buffett put all that money into BOA. I understand that BOA has shifted exposure to the banking side. So bailout will occur there first 20-60%.
Bank of America Lynch[ing this] CountryWide's Equity Is Likely Worthess and It Will Rape FDIC Insured Accounts Going Bust
Source: | 22 Oct 2011 | 4:50 am PST
Get this, the derivatives people get first crack at FDIC money. Buffett is big in derivatives. Look, I'm just an average guy but this stinks. The dealer is looking out for the house.
#5
More Mosques in France than Churches - the bulk of the NATO-EU has already been [legally]outflanked.
With "EYES WIDE OPEN".
ISLAM = RADICAL ISLAM? IS AT THE CHANNEL, + THE ROYAL NAVY ISN'T BIG ENOUGH OR STRONG ENOUGH ANYMORE TO EFFEC STOP THEM FROM CROSSING OVER, espec vee the Chunnel???
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
