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For my Energy and Capital article this week, I review a host of cancellations and delays of energy projects, and surmise that they are setting us up for an “air pocket” of oil supply within the next year or so.
In my column for Energy and Capital this week, I tackle the new World Energy Outlook 2008 report from the IEA. It’s the bombshell I expected, and poses a $26 trillion dollar question with a (mostly) renewable energy answer.
This month’s Vanity Fair has an excellent article on the market meltdown this year, which explains the history and the roles played by Fannie and Freddie, the Fed, hedge funds, and banks, and delves into the nature of fiat money, derivatives, and the other financial instruments that were the tools of our undoing. Fascinating article, very well done, highly recommended!
“Either way, Planet Finance has now returned to Planet Earth with a bang. The key figures of the Age of Leverage—the lax central bankers, the reckless investment bankers, the hubristic quants—are now feeling the full force of this planet’s gravity.”
For my Energy and Capital article this week, I review Obama’s energy plan and try to separate the good ideas from the bad ones, ultimately finding in Obama’s win a guaranteed bull market in renewable energy, grid technology, and plug-in hybrids.
At long last, the seemingly endless national nightmare of the Bush administration is over, and a Democratic liberal has taken the reins. I still can hardly believe it’s true. I wept with relief and joy as I watched his acceptance speech last night. I can’t remember ever being so moved by anything political in my entire life.
Long live President Obama! I wish him luck–he’s got a very tough row to hoe. He’s going to need all the support he can get from Congress to tackle the challenges of the next four years, and he’s going to need the entire country’s help to take out the wedges that Karl Rove and his operatives drove between us, and heal the divides within. My new article, to be published tomorrow, will take a close look at his energy policy proposals, so stay tuned for that. For now I’ll just say: WAHOO!!
Below the fold, a banner and YouTube video submitted by friends, in recogntion of this historic moment.
What an amazing, blessed relief. After eight years of utter shame, I am once again proud to be an American.
My presentation in Minneapolis was very well received. I sense a growing appreciation out there for messages about resource overshoot and a future of diminishing energy supplies, and it’s giving me just a tiny bit of optimism.
Here’s a short article that I had to recommend to my list on the future of the markets and how we must be prepared to see both wild deflationary and hyperinflationary cycles. Excellent stuff.
Is Volatility Embedded in the System for a Generation?
On a related note, check out this chart of money supply. If you really grok what this means, it sorta tells the whole story right there:
Here’s another excellent article on the future of global trade and commodity prices: The world isn’t flat, it’s flattened
And finally, a bit of up-to-date political humor: Wassup 2008
Here’s hoping that we can wake up on November 5 to a new day in America, after a clean and uncontested election, with Obama at the helm. We have a lot of work to do…