Google+ Badge

Saturday, November 29, 2014

Oil Enters New Era As OPEC Faces Off Against Shale

No, oil re-enters old era where the price of gas once again begins to reflect the true price of oil and refining - U.S. oil companies who have pillaged Americans since the criminal Bush administration came to power now threaten through MSM mouthpieces, claiming low gas prices will "bring on recession" in addition to "costing U.S. jobs;"  "let us continue to rape you or we will kill your grandmother and turn your wife and daughters out on the street to turn tricks…"    

BLOOMBERG
By Golnar Motevalli, Anthony DiPaola and Wael Mahdi
11/29/2014

OPEC’s decision to cede no ground to rival producers underscored the price war in the crude market and the challenge to U.S. shale drillers.


"Good times" for oil company criminals coming to an end
The 12-nation Organization of Petroleum Exporting Countries kept its output target unchanged even after the steepest slump in oil prices since the global recession, prompting speculation it has abandoned its role as a swing producer. 

Yesterday’s decision in Vienna propelled futures to the lowest since 2010, a level that means some shale projects may lose money.



“We are entering a new era for oil prices, where the market itself will manage supply, no longer Saudi Arabia and OPEC,” said Mike Wittner, the head of oil research at Societe Generale SA inNew York. “It’s huge. This is a signal that they’re throwing in the towel. The markets have changed for many years to come.”

The fracking boom has driven U.S. output to the highest in three decades, contributing to a global surplus that Venezuela yesterday estimated at 2 million barrels a day, more than the production of five OPEC members. Demand for the group’s crude will fall every year until 2017 as U.S. supply expands, eroding its share of the global market to the lowest in more than a quarter century, according to the group’s own estimates.

Benchmark Brent crude fell the most in more than three years after OPEC’s decision, sliding 6.7 percent to close at $72.58 a barrel. Futures for January settlement sank to $70.15 today, the lowest close since May 2010. Prices peaked this year at $115.71 in June.

Market Signals

“We will produce 30 million barrels a day for the next 6 months, and we will watch to see how the market behaves,” OPEC Secretary-General Abdalla El-Badri told reporters in Vienna after the meeting. “We are not sending any signals to anybody, we just try to have a fair price.”


Days of oil company rape and pillage over; Americans cut travel to the bone gutting market

OPEC pumped 30.56 million barrels a day in November and has exceeded its current output ceiling in all but four of the 34 months since it was implemented, according to data compiled by Bloomberg. OPEC’s own analysts estimate production was 30.25 million last month, according to a report Nov. 12. Members will abide by the 30 million barrel-a-day target, El-Badri said yesterday.

“OPEC has chosen to abdicate its role as a swing producer, leaving it to the market to decide what the oil price should be,” Harry Tchilinguirian, head of commodity markets at BNP Paribas SA in London, said yesterday by phone. “It wouldn’t be surprising if Brent starts testing $70.”

Conventional Producers

Conventional oil producers in OPEC can no longer dictate prices, United Arab Emirates Energy Minister Suhail Al-Mazrouei said in an interview in Vienna on Nov. 26. Newcomers to the market who have the highest costs and created the glut should be the ones to determine the price, he said.


Decade of rape that began under Bush criminals at an end
“That is what OPEC is hoping for,” Carsten Fritsch, a commodity analyst at Commerzbank AG in Frankfurt, said in an e-mail. “It’s the question of who will blink first.” OPEC may now be prepared to let prices fall to force some drillers with higher production costs to stop pumping, said Julian Lee, an oil strategist who writes for Bloomberg First Word and has worked in the industry for 25 years. 


That scenario would mark the start of a fourth oil-market era since the end of the 1970s, he said.

Fourth Era

Since the early 2000s, surging demand growth drove up prices allowing companies to apply new extraction techniques and develop deep-water and other costly oil. That ended an era that pervaded since the mid 1980s, which was characterized by low prices and OPEC regaining the market share that it had previously sacrificed in an attempt to preserve high prices, Lee said.

OPEC will face pressure too, with prices now below the level needed by ninemember states to balance their budgets, according to data compiled by Bloomberg.

“They haven’t taken collective action,” Richard Mallinson, an oil analyst at London-based Energy Aspects Ltd., said by phone. “That doesn’t mean they won’t do it in the next few months if prices stay low.”

Venezuela’s oil income has fallen by 35 percent, President Nicolas Maduro said on state television Nov. 19. Nigeria increased interest rates for the first time in three years on Nov. 26 and devalued its currency. The government is planning to cut spending by 6 percent next year, Finance Minister Ngozi Okonjo-Iweala said Nov. 16.

U.S. Production

U.S. oil production has risen to 9.077 million barrels a day, the highest level in weekly data from the Energy Information Administration going back to 1983. Output will climb to 9.4 million next year, the most since 1972, it forecasts.

Middle Eastern exporters including Saudi Arabia, Iran and Iraq can break even on a cost basis at about $30 a barrel, Sanford C. Bernstein & Co. They need more to balance their budgets. Some U.S. producers need more than $80, the consulting firm said in a report last month.


This image demonstrates just how valuable natural gas is to oil companies; remember this the next time you pay premium prices for what is a free byproduct of drilling

OPEC’s policy will spur a crash in the U.S. shale industry, Leonid Fedun, a vice president and board member at OAO Lukoil, Russia’s second-largest oil producer, said in an interview in London before the group’s decision.

“In 2016, when OPEC completes this objective of cleaning up the American marginal market, the oil price will start growing again,” said Fedun. “The shale boom is on a par with the dot-com boom. The strong players will remain, the weak ones will vanish.”

The share prices of U.S. oil producers including Exxon Mobil Corp. and Chevron Corp. fell by at least 4 percent in New York trading today.

No Cut

Igor Sechin, the chief executive officer of OAO Rosneft, Russia’s largest oil producer, said after a meeting with Venezuela, Saudi Arabia and Mexico that his nation wouldn’t need to cut output even if prices fell below $60.

“The question is, what price level will be low enough to slow U.S. production growth?” Torbjoern Kjus, an analyst at DNB ASA, Norway’s biggest bank, said by phone. “What price will get U.S. growth to slow to 500,000 barrels a day from this year’s rate of 1.4 million barrels?”


Obama won't be laughing when U.S. fracking industry is killed
Only about 4 percent of U.S. shale production needs $80 or more to be profitable, according to the Paris-based International Energy Agency. Most production in the Bakken formation, one of the main drivers of shale oil output, remains profitable at or below $42 a barrel, the IEA estimates. 


The agency expects U.S. supply to rise by almost 1 million barrels a day next year, with increasing flows to international markets.

OPEC has gone “cold turkey” on balancing the oil market, Goldman Sachs Group Inc. said in a report yesterday. Prices may have further to fall until there is evidence of U.S. production slowing, according to the bank. It said last month that oil markets were entering a “new oil order,” with OPEC retreating from its role as a swing producer.

“OPEC’s decision means it is over to you America,” Miswin Mahesh, a London-based commodities analyst at Barclays Plc, said in an e-mail. “This opens the window for the U.S. to be the new swing producer.”



This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

"Black Friday" Sees Protests, Predictions Of Low Retail Sales By Independent Media

Desperate Fox "News" corporate hacks actually call out prices on air in further switch from "news" to shopping channel; corporate criminals face catastrophic profit losses as Americans wise up to bogus, annual rip-off fest and the propaganda that accompanies it    

RT
11/28/2014

Ahead of Black Friday shopping, demonstrators around St. Louis turned out late Thursday at top retail outlets to protest a grand jury decision not to indict a police officer for killing an unarmed teen. Black Friday sales, meanwhile, are predicted to lag.


Demonstrators, according to Reuters and CBS News, protested inside multiple St. Louis County Walmart stores, chanting “No Black Friday” and “Hands up, don’t shoot!”, the phrase that has become synonymous with the fatal shooting of Michael Brown, 18, by Ferguson police officer Darren Wilson, 28.

On Monday, it was announced that a St. Louis County grand jury had decided it would not indict Wilson for the killing of Brown on Aug. 9. Wilson, who is white, has maintained that he used deadly force against Brown, a black man unarmed at the time of the incident, in self-defence.


A majority of witnesses testifiedto the grand jury that Brown had his hands raised and was running away from Wilson as the officer shot him repeatedly.

Peaceful protesters at one Walmart were quietly dispersed Thursday night by a small contingent of police, Reuters reported, before moving on to a Target store nearby for a similar demonstration.

Other Thursday protests, according to KSDK, took place at Walmarts in Manchester, West Florissant, St. Charles, and Maplewood, all of which are suburbs of St. Louis.

Similar protests are expected throughout Friday, in the St. Louis area and nationwide. Some activistscalled for Black Friday boycott "to galvanize economically and influence change in the politics of American Justice pertaining to Law Enforcement vs Citizens."


Walmart targeted for paying slave wages

"There's one language that America understands - it's the money," Rev. Timothy McDonald said, according to CBS News.

Others took to social media, using hashtags such as #blackoutblackfriday and #notonedime to encourage shoppers to patronize only black-owned businesses.

"It's standing up and coming out to these events and showing support and meeting people, and organizing, you know, all of that is going to take a stand," activist Dionne Hamilton said, according to CBS News.

Overall, shopping crowds were reportedly thinner than usual on Black Friday, as retail observers say many are opting to shop on Thanksgiving night or online rather than to hunt for special deals on the morning after the holiday.


Many retail outlets remained bare even as corporate criminals fund massive media propaganda blitz claiming record numbers of shoppers, consumer confidence upswing due to "low gas prices, a huge drop in unemployment" and how "U.S. economy is booming"

Holiday shopping "has moved from an event on Black Friday morning to a multi-day event,” Target CEO Brian Cornell told Reuters.

"The consumer clearly enjoys shopping on Thanksgiving," he said, adding that Target sold 1,800 televisions per minute nationwide from 6 p.m. to 8 p.m. ET on Thursday night.

Walmart reported that Thanksgiving Day was the retail outlet’s second-highest online sales day after last year’s Cyber Monday, the Monday after Thanksgiving in which retailers promote various shopping deals.

The National Retail Federation predicted that November and December sales this year will go up 4.1 percent, to $616.9 billion, which would mean the top holiday shopping season in three years, according to Reuters.

Last year, some 247 million shoppers spent $59.1 billion over Thanksgiving weekend.

Reuters also reported that only a handful of unruly incidents occurred Friday morning, as shoppers competed for the best deals. For example, police had to break up a fight over Barbie dolls in Los Angeles, according to CNN.



This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

Eating Cat For Christmas : Activists Call On Swiss Parliament To Outlaw Pet Consumption

U.S. homeless keeping sharp eye out for PETA these days  

RT
11/28/2014

Animal rights activists have drawn up a petition to ban the ‘barbaric’ practice of eating pets in Switzerland, where cat meat often appears on traditional Christmas menus in rural areas.


"Roof Rabbit" now on homeless menu in U.S.
The animal protection group, SOS Chats Noraingue, has handed over a petition with 16,000 signatures, including such notable animal rights defenders as Brigitte Bardot, to the Swiss parliament on Tuesday.

Dog meat is often used to make sausage, while cats are prepared around the holiday season in a similar style to rabbit - in a white wine and garlic sauce. A type of mostbröckli made from marinated cat or dog is another local favorite.


Though there are no statistics available on the amount of cat and dog meat consumed by the Swiss, SOS Chats founder and president, Tomi Tomek told AFP she suspects that “around three percent of the Swiss secretly eat cat or dog.”

While the commercial sale of dog meat is banned nationwide, its consumption is still legal and is particularly popular in Lucerne, Appenzell, Jura and in the canton of Bern, according to Tomek. Farmers are free to kill and eat their own animals. Those in the Appenzell and St. Gallen areas are said to favor a beefy breed of dog related to Rottweilers.


Urban "cat farming" on the rise to meet demand for kitty cuisine

In a 2012 report on pet eating in the Swiss paper Tages Anzeiger, the Swiss Veterinary Office chalked up the practice to a “cultural matter” and noted that some countries breed dogs specifically for slaughter.


U.S. cats react angrily to Swiss slaughter, vow revenge
One farmer, defending the practice, told the paper, “There’s nothing odd about it. Meat is meat. Construction workers in particular like eating it.”

This is not the first time that Swiss animal rights defenders have tried altering animal welfare law. The Swiss parliament rejected a bill banning the eating of household pets back in 1993.


Encouraged by last year’s victory outlawing the sale of cat fur, SOS Chats now hope parliament will listen and forbid pet consumption once and for all.


U.S. homeless Seniors, kids, Veterans making transition from eating dog food... to eating dog

“A political leader told us parliament won't do anything unless people revolt,” Tomek was quoted as saying in the Local.ch, the Swiss edition of the Local. “The Swiss need to take care of this themselves,”she added.

Currently, Swiss farming and agriculture welfare laws do not include protection for pets. The killing of a pet can only be prosecuted if the means of slaughter was deemed to have caused unnecessary pain or suffering.



This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

Truck Crash Dumps Thousands Of Pounds Of Dog Food

Cops surround crash scene, forced to defend dog food from starving, rampaging homeless Seniors, kids; "Now we have Christmas dinner," - Homeless Senior 

KOMO NEWS
11/26/2014

FIFE, WASHINGTON - 

A semi truck crashed on Interstate 5 late Tuesday, spilling thousands of pounds of dry dog food along the side of the freeway, the Washington State Patrol reported.


Investigators say the driver fell asleep at the wheel.

State troopers responded to the scene, on I-5 near 70th Avenue, shortly before midnight after receiving reports of a semi truck overturning and crashing.

A preliminary investigation found that the semi driver was heading north on the freeway when he dozed off. The semi veered off the roadway and crashed into the ditch. There was no sign of braking before the truck left the road, said Trooper Guy Gill.


The rear of the semi trailer burst open when it crashed, disgorging hundreds of 50-pound bags of dry dog food.

The driver was sore but apparently uninjured. He was taken to a hospital to be checked out. Gill says the drowsy driver is lucky he wasn't crushed in dog food. 


"Not bad, but Skippy's has more consistency, less insect fragments. We're gonna have to knock off another truck before Christmas"

No other vehicles were involved in the crash. The semi driver will be charged with negligent driving, Gill added.

It took crews several hours to clean up the mess.



This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

-------------------------------------------------------------------------------------------------------------------

ANDREW KREIG: EXPERTS REJECT FIRE AS CAUSE FOR 9/11 WTC COLLAPSES

The real truth on 9/11 slowly continues to bleed out

 photo
Technical experts are mounting major challenges to official U.S. government accounts of how three World Trade Center skyscrapers collapsed in near-freefall after the 9/11 attacks 15 years ago.

Many researchers are focusing especially on the little-known collapse of

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

The Geopolitics Of The United States, Part 1: The Inevitable Empire

The Empire and the inevitable fall of the Obama criminal regime

 photo
STRATFOR Editor’s Note: This installment on the United States, presented in two parts, is the 16th in a series of STRATFOR monographs on the geopolitics of countries influential in world affairs.

Like nearly all of the peoples of North and South America, most Americans are not originally from the territory that became the United States.

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

Geopolitics Of The United States Part 2: American Identity And The Threats of Tomorrow

A look back at 2011 predictions for the future in order to put events of today into perspective

 photo capitalism_zpsah78uy5p.jpg
We have already discussed in the first part of this analysis how the American geography dooms whoever controls the territory to being a global power, but there are a number of other outcomes that shape what that power will be like. The first and most critical is the impact of that geography on the American mindset.

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


By Robert S. Finnegan

This e-mail outlines and confirms the acts of espionage against Indonesia and Indonesians by Akiko Makino and the others involved both in Kobe University and in AI Lab at University of Airlangga, Surabaya; Bahasa Indonesia original follows English translation...

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

UPDATED 01/07/2015 : New Analysis Challenges Tamiflu Efficacy; Hong Kong Corona Virus Outbreak

UPDATED 01/07/2015 : FOX NEWS CORPORATE PHARMA SHILL MEGAN KELLY AND FOX NEWS QUACK DOCTOR NOW PUSHING TAMIFLU FOR PREGNANT WOMEN AND CHILDREN;

 photo TAMIFLU_small_zpssojx6okt.jpg
THE 5TH ESTATE UNEQUIVOCALLY WARNS THE PUBLIC NOT TO TAKE OR GIVE THIS PROVEN DANGEROUS, INEFFECTIVE DRUG TO ANYONE

Obama criminals now resulting to biowarfare in quest to destroy Chinese and ASEAN economy; "novel virus substrain" points directly to a Kawaoka / Fouchier / Ernala-Ginting Kobe lab virus weaponized and genetically altered to specifically target and infect the Asian population: Ribavirin...

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


 photo WHO02_zpsplmhtlpr.jpg
The 5th Estate has just purchased a library on H5N1 "Novel" virus pandemics, there are dozens of PDF and Exel documents we feel will assist you in saving lives following intentional releases of the H5N1 and now MERS viruses; we will begin by printing those that appear to be extremely relevant here: H5N1 Kobe-Kawaoka-Ernala series continues soon with more "Smoking Gun" e-mails from Teridah Ernala to The 5th Estate . . .

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


By Robert S. Finnegan

On October 12, 2002 the Indonesian island of Bali experienced a terrorist attack that rocked the world. It was unquestionably well-coordinated and executed, the largest in the country's history.

READ MORE >>