The Financial Times headline played up the report from the International Energy Agency (IEA) that by 2017 the U.S. will become the world’s largest energy producer. The use of fracking and other newly developed technologies has enabled the exploitation of previously uneconomic carbon deposits. In 1974 I sat in an economic geography class in which the professor claimed that the U.S. was full on shale oil and gas and its development was merely a matter of price. Being a know-it-all about the Club of Rome studies on the limits of growth, I entered into a lively debate with the prof about why he was wrong and the effects of the energy crisis was going to lead to the demise of Kapitalism. If I could remember his name I would send an appropriate apology.
Posts Tagged ‘IEA’
Notes From Underground: U.S. to be the Top Energy Producer (Then Fiscal Compromise is a No Brainer)
November 12, 2012Notes From Underground: The Debt Wars Are Getting Stale–Each Day Positions Harden
July 26, 2011The seriousness of the U.S. DEBT CIRCUS cannot be overstated but evidently not from a market perspective. U.S. Treasuries have continued to be well bid as many investors still run to the TREASURY market in times of uncertainty. Besides the “rush” to safety in the BONDS, the FED has so badly perverted the market’s pricing mechanism that it is very difficult to determine the genuine impact of the Washington default countdown. European sovereign debt has been trashed during the last 20 months as there was no real central bank support to the market as the EFSF was a late comer to the scene and was provided with meager provisions.
Notes From Underground: Austerity, WHERE IS THOU STING?
June 29, 2011The question of the impact from the austerity budget passed by Greece will not be visible under the lights of television but will rather be a process drawn out during the coming years. Tears will flow not from the irritation of tear gas but from the “NEGATIVE FEEDBACK LOOP” that has been initiated by the power of Brussels to exact its pain from the citizenry of Greece while applying the salve of credit relief to the global banks and financial entities saddled with the debt of the profligate PIIGS.