Thursday, January 19, 2012

SAR #12019

There are no possible worlds where the impossible happens.

The Greek Train Robbery: A group of hedge funds that picked up Greek bonds at very distressed prices is threatening to block attempts to avoid a Greek default unless they are awarded enormous profits on their blackmail investment. After all, the hedgies have CDS that (theoretically) will pay them when Greece defaults. Say, remember AIG?

Because I Said So: The Florida Senates rules committee is considering a bill that would permit privatization of state programs and services be accomplished in secret.

Cup/Lip: Saudi Arabia produced 10,047,000 barrels a day in November, 1,788,000 b/d more than November 2010, but their net exports have fallen from 9.1 mbd in 2005 to about 8 mbd now as internal consumption grows. And the increased production means an increase in the rate of depletion, too, suggesting Saudi Arabia will approach zero net petroleum exports in less than 20 years.

Eggs/Basket: The US electrical industry is turning from expanding wind and nuclear generation to building new gas-fired plants to take advantage of the currently abundant supplies of cheap natural gas. “Currently abundant” being the key phrase.

Present at the Destruction: Bats may soon be joining the American bison and the passenger pigeon in extinction. White-nose fungus has already killed nearly 7 million bats.

Odds On Favorite: Swiss mathematicians have shown that the risk of extreme climate events is largely underestimated. They have developed a model that takes into account parameters such as climate change, allowing researchers to predict extreme risks more precisely. According to standard weather models, the 2003 heat wave was statistically impossible. Actually, there was a five in ten thousand chance for the event to occur. But it is six times more likely to recur by 2050.

"All Hope Abandon..." The scientists behind The Limits to Growth have said that there will not be another sequel to their study. If they start from current conditions, there is no plausible outcome other than over shoot followed by collapse; remember the petri dish experiments?

No comments: