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Norway appointed on Wednesday a skeptic on wind power and climate change as its new oil minister who will oversee oil and gas drilling and wind turbine installations on and offshore Western Europe’s largest oil producer.
Sylvi Listhaug of the right-wing Progress Party was appointed Minister of Petroleum and Energy on Wednesday, replacing Kjell-Børge Freiberg who was “honourably discharged from his office,” the Norwegian government said.
By Dr. Kelvin Kemm – Re-Blogged From WUWT
Small Modular Reactors, especially Pebble Bed Modular Reactors, are Africa’s best future
Hydro power is a good way to generate electricity. In most political circles, it is considered environment-friendly because it does not produce carbon dioxide, and it is not complicated. Norway has extensive hydro and can claim to have very green energy, which Norwegians do.
Hydro is wonderful, in fact – if you have the water. Norway’s hydro dams are constructed between rather vertical rock walls, which form the famous Norwegian fjords and tower above Norwegian valleys. Many of these geological formations are permanently topped with ice and snow, which constantly melts into reservoirs behind the dams, and is supplemented by regular rainfall, keeping water supplies plentiful and the water height and volume essentially constant.
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).
By Jim Steele- ReBlogged From WUWT
American folk lore is filled with stories of how Native Americans observed changes in wildlife and foretold future weather changes. I was fascinated by an 1800s story of Native Americans inhabiting regions around Marysville, California who had moved down into the river valleys during drought years. They then moved to higher ground before devastating floods occurred. Did they understand California’s natural climate cycles? Could changes in salmon migrations alert them?
Observing salmon has certainly improved modern climate science. In the 1990s climate scientists struggled to understand why surface temperatures in the northwest sector of the Pacific Ocean had suddenly become cooler while temperatures in the eastern tropical Pacific suddenly warmed. Climate models predicted no such thing. However, fishery biologists noted salmon abundance in Alaska underwent boom and bust cycles lasting 20 to 40 years. When Alaskan salmon populations boomed, their populations from California to Washington busted. Conversely, decades later when Alaskan populations busted, those more southerly populations boomed.
By Egon von Greyerz – Re-Blogged From http://www.Gold-Eagle.com
Western Central Banks have a real knack for timing the sale of their gold reserves. They are absolute experts when it comes to picking the bottom of the gold market. Central banks in the UK, Switzerland and Norway, to mention a few, timed their sales to perfection. The only problem is that they all sold at the absolute bottom between 1999 and 2004. That was of course the time to buy gold and not to sell. But the Finance ministers in charge of Western economies have no understanding of economics. They don’t even understand that their absolute destruction of paper money is always revealed by the gold price.
By Stratfor – Re-Blogged From https://fabiusmaximus.com
Summary: Europe’s elites warned that Britain would suffer for daring to leave the EU. Suffer severely and soon. Four months have passed since the June 23 vote and Britain has felt no ill effects. Britain might have the last laugh, since the EU has to redo its budget following the loss of its second largest contributor. The EU is already under stress. Cutting the budget and raising taxes will make it worse. Perhaps sparking more exits.
A Bitter Budget Battle Looms in the EU
Stratfor, 13 October 2016.
Interview With Nick Giambruno – Re-Blogged From International Man
Scott Horton: Happy to have you back on the show, Nick.
I’m looking at one of your articles in Casey Research’s International Man and I like the title: “Revealed: The Hidden Agenda of Davos 2016.”
Can you tell us about it?
Nick Giambruno: Yes. There’s an annual World Economic Forum meeting in Davos, Switzerland. Leaders in business, government, media, and even some celebrities go to these events to discuss the big issues of the day. This conference happens every year in the open. But this year, I think a secret meeting took place during the conference behind the scenes, with huge historical significance…
Immediately after the conference, there was a big acceleration to eliminate paper cash, or at least high-denomination currency notes. A flood of articles from The New York Times, The Economist, Zero Hedge, and other publications picked up on this.
By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com
Last week was a true dichotomy of fantasy and reality. We witnessed a massive short squeeze and the best week for U.S. equities in over a year. While the markets were oversold and due a bounce, the “bounce” came with a backdrop of very dire news! Day after day brought forth new and consistently worse news.
In no particular order of importance; Deutsche Bank reported a $6.5 billion loss (10% of their net equity), UBS joined the derivatives implosion party and required a capital raise, Glencore ‘fessed up to $100 billion in debt versus the previous $19 billion (with three or four other major commodity firms in the same boat), the Bank of England required their banks to disclose how much of this debt they were exposed to, China’s yuan surpassed the yen in the settlement of global trade, China also went live with their alternative settlement of trade in yuan (non-dollars), Saudi Arabia and Norway disclosed they are now in deficit and thus no longer “buyers” of dollars (are they now sellers?) …and the U.S. was effectively kicked out of the Middle East! I might add that several recent economic reports even though fudged, massaged and outright falsehoods were unable to hide the reality of global AND U.S. recession and decline in the real economic sectors.