Russia Will Be Ruined by the Clean Energy Transition

By Eric Worrall – Re-Blogged From WUWT

According to Forbes, when renewable energy programmes like Germany’s Energiewende mature, demand for Russian fossil fuel will collapse.

Will Russia Survive The Coming Energy Transition?

Jun 27, 2019, 10:35am
Ariel Cohen Contributor

A new global energy reality is emerging. The era of the hydrocarbon – which propelled mankind through the second stage of the industrial revolution, beyond coal and into outer space – is drawing to a close. The stone age ended not because we ran out of stones. The same with oil and gas.

World Energy Consumption
World Energy Consumption. By Con-structBP Statistical Review of World Energy 2017, CC BY-SA 3.0, Link

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Europe’s Hail Mary Pass

By Rick Ackerman – Re-Blogged From Silver Phoenix

Europe took competition to a new level last week in the global currency-devaluation olympiad. Nominating the politically-minded IMF chief Christine Lagarde rather than a blue-blooded financier to run the ECB is akin to making Trump chairman of the Federal Reserve. No longer can we pretend that the staid protocols of old-school banking still obtain in the financial realm. Instead, there is a strong whiff of desperation as Europe readies a last-ditch attempt to stimulate itself out of a liquidity trap with the ECB’s deposit rate already at minus 0.4%.

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Poland’s Central Bank Increases Gold Reserves By Over 125 Tonnes

By Mark O’Byrne – Re-Blogged From Gold Eagle

Gold reserves of the National Bank of Poland (NBP) have risen by 125.7 tonnes to 228.6 tonnes, the bank announced on Friday.

NBP governor Adam Glapiński added that that it had been possible to take action to repatriate a significant portion of Poland’s gold.

The central bank announced on Friday that it had “carried out the strategic decision of the NBP management board to significantly increase the NBP gold reserves within the foreign currency reserves.”

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The Water Future of Earth’s ‘Third Pole’

By: Carol Rasmussen – Re- Blogged From WUWT

Himalaya. Karakoram. Hindu Kush. The names of Asia’s high mountain ranges conjure up adventure to those living far away, but for more than a billion people, these are the names of their most reliable water source.

Snow and glaciers in these mountains contain the largest volume of freshwater outside of Earth’s polar ice sheets, leading hydrologists to nickname this region the Third Pole. One-seventh of the world’s population depends on rivers flowing from these mountains for water to drink and to irrigate crops.

Rapid changes in the region’s climate, however, are affecting glacier melt and snowmelt. People in the region are already modifying their land-use practices in response to the changing water supply, and the region’s ecology is transforming. Future changes are likely to influence food and water security in India, Pakistan, China and other nations.

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ICE Ready to Deport Approximately 1M Illegal Aliens

By John Binder – Re-Blogged From Breitbart

Acting United States Citizenship and Immigration Services (USCIS) Director Ken Cuccinelli says the Immigration and Customs Enforcement (ICE) agency is ready to deport about a million illegal aliens who remain in the country despite having final orders for deportation.

During an interview with CBS News on Sunday, Cuccinelli said despite a delay of mass deportations by President Trump two weeks ago, ICE agents are ready to detain and deport the roughly one million illegal aliens who have been ordered deported from the country.

Cuccinelli said:

[ICE agents are] ready to just perform their mission which is to go and find and detain and then deport the approximately one million people who have final removal orders. They’ve been all the way through the due process and have final removal orders. Who among those will be targeted for this particular effort or not is really just information kept within ICE. [Emphasis added]

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Deutsche Bank Starts Cutting 18,000 Jobs in $8.3 Billion Reinvention

By Thomson Reuters – Re-Blogged From Newsmax

Deutsche Bank laid off staff in Asia on Monday as it began cutting 18,000 jobs as part of a 7.4 billion euro ($8.3 billion) “reinvention” set to tip Germany’s largest lender into yet another annual loss.

In a retreat from a long-held ambition to make its struggling investment bank, which employs 38,000 people, a force on Wall Street, Deutsche Bank said on Sunday it would scrap its global equities operations and cut some in fixed income.

Deutsche Bank Starts Cutting 18,000 Jobs in $8.3 Billion Reinvention

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Norwegian Oil Pioneer: Big Oil’s Exodus Has Started

Smaller independent oil and gas producers will have more opportunities to develop resources on the Norwegian Continental Shelf (NCS) because in ten years’ time all oil majors except state-participated Equinor will have left Norway’s offshore, the head of a small Norwegian oil firm told Reuters on Tuesday.

“I don’t think we will have any majors on the Norwegian continental shelf in 10 years. Equinor will be the only one left because of the state’s ownership,” Erik Haugane, co-founder and chief executive at OKEA, told Reuters on the day on which the company’s stock started trading on the Oslo Stock Exchange, after a successful completion of an initial public offering (IPO).