What Are Market Predictions?

“Mon, Aug 17, 2015 – 8:15 AM
Bill Baruch, chief market strategist, iiTrader joins BNN to discuss why he’s watching crude oil to move sharply higher today.”
“oil will rally today” is the BNN video title, but I didn’t hear the trader say that, but he did say a rally by midweek. In the video he notes $35 oil is realistic in the near term (which was actually a better prediction), and it will be unlikely to rebound to $60 if production levels stay similar to now.

Crude’s drop below $38 marks ‘epic’ time in the oil market
Published: Aug 24, 2015 11:27 a.m. ET

The MarketWatch graph shows there was no rally on the 17th, oil finished the day down.

Quite the “midweek” “rally”.

In early trade on Monday morning, the price of West Texas Intermediate was down about 5.7% and traded as low as $38.13 a barrel, a new post-financial-crisis low for the commodity that has been getting hacksawed this year.

WTI prices are down about 60% against a year ago, and after finding some stability earlier this year,

If oil gets down to below about $30, the Tarsands are no longer profitable to exploit! No wonder the Premier of Sask is shitting bricks about his bet on oil while totally neglecting renewable energy investments.

Brad Wall On “Sustainably Developing Our Energy Resources”

Originally posted on John Klein - Regina:

Brad Wall says “…we need to do better in terms of more sustainably developing our energy resources…”

Unfortunately what he means is he wants to find ways of ensuring fossil fuels and uranium come out of the ground at an increasingly profitable pace, no matter the world’s demand/need for such things.
Greg Fingas views it as such, too.

He notes that oil pride goes “Before the fall”. (Although technically oil prices have already fallen.)

The government’s climate change policy works like this: extract every last drop of fossil fuel then pray to God that no one uses it.” – G. Monbiot
I’ll add that they hope no one uses it, so long as someone first buys it. Perhaps we need to consider if…

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Shared Knowledge Conference – Regina

These videos are from the second day of the Shared Knowledge Conference at the Core Ritchie Centre, the second weekend of June.

Jim Elliott with many interesting (and terrifying) facts about Regina’s watershed system.

James and Brooke of Sound Solar Systems:

Next, I presented on Bitcoin and alternate currencies being used to build alternate economies apart from the monetary systems provided by governments.

Dan B. of Tradebank Regina

Lindsay H. wraps up with what’s in store for next time.

With Millions To Spare, Here’s How to Save Thousands of Lives

This rich couple is doing good with their money.

Regina caught sight of a jacket in the water during the cruise, and when she asked about it, she was told it might belong to a dead migrant who was trying to find safety in Europe.

While some Europeans criticize the rescue operation, saying it draws more migrants to the sea, Xuereb says that’s just not true. People are desperate, undertaking the journey to find a better life. They deserve to live, he says.

Last year, about 218,000 people made this journey — a record. Some 3,500 people drowned. And the numbers are growing.

American and Canadian Food Waste Both Staggering

Here’s a very interesting and instructive blog post about American food waste.

As my last blog entry on food waste, Rob Greenfield brought the previous link to my attention. Canada’s $31,000,000,000.00/year of wasted food has to change, as does America’s “food waste fiasco“.

Regina lost one of its few grocery stores without a food wasting compactor, a couple years ago. A pickup truck’s worth of unwanted food could be going to food banks in Regina every day from each grocery store here. As long as the food isn’t spoiled, they are protected in law.

The Baseload Mistake

One of the hangups some of my friends have about converting the electrical grid to renewable energy, has been the difficulty in storing electricity generated for use when energy input is reduced. Tesla Energy should help with that logistical problem.

In the meantime, we’re dealing with homes, power grids, and even an economy that cannot easily survive even short interruptions of constant energy input. That has to change to make our way of life even close to sustainable.

Is “baseload” power from coal even that important in grids of the near future?

“We all know that the wind doesn’t blow consistently and the sun doesn’t shine every day,” he said, “but the nuclear industry would have you believe that humankind is smart enough to develop techniques to store nuclear waste for a quarter of a million years, but at the same time human kind is so dumb we can’t figure out a way to store solar electricity overnight. To me that doesn’t make sense.”

Arnie Gunderson is right that it shouldn’t sit right with people.

Forbes wonders if nuclear power is now going to die. Not anytime soon, there’s too many billions of dollars already sunk into the technology and that industry is not going to go peacefully into the night as it runs out of money to manage security for all of the nuclear and industrial wastes it’s created.

When The Tories Left Office

I was too young in 1991 to put the news I was hearing into context. My family had worked for months on my Dad’s campaign for the Sask Liberals in Moose Jaw, and he’d come away in second place. Roy Romanow was the new Premier of Saskatchewan, and Grant Devine would soon fade into political obscurity as some of his cabinet and other MLAs would go to jail, and in the sad case of Jack Wolfe an early grave. Future Lieutenant Governor Linda Haverstock was the only Sask Liberal MLA in the Saskatchewan Legislature.

Soon, the new hospital in Lafleche was turned into a band-aid centre; babies no longer permitted to be born there. In the next four years, my school was closed despite it costing more to bus kids to other towns than it did to run the entire school in Wood Mountain. The railway was closed and ripped out everywhere near my hometown (but not through it, because of a clean-up bylaw imposed by the Village council). Rural Saskatchewan was both dying, and being killed. The NDP were in charge, and their eyes turned to urban Saskatchewan, as they shunned their rural roots.

In 2007, The Saskatchewan Party came to power. Brad Wall was the new Premier. The NDP faded from the scene, and wherever there was big industry, private or public, they got the support of the government. Our huge resource revenues were utterly spent. There was nothing put away into a savings account, and now that oil has come crashing down, there is nothing in the tank.

Another provincial election is coming, Wall’s 2nd as Premier. Will the oil crash of 2014/15 expose how badly the province is being managed? Is Wall’s extended honeymoon over? Probably not, but now there’s a chance of him reaping what he’s sown.