Abiotic Oil: Real(ish)Things That Don’t Matter, Part Deux

By David Middleton – Re-Blogged From WUWT

In part one of this series, we looked at Peak Oil and its irrelevance to energy production. In Part Deux, we will look at “abiotic oil,” a real(ish) thing that really doesn’t matter outside of academic discussions and SyFy blogs.

A note on terminology

Some refer to this as “abiogenic oil.” This is not a useful term because all oil is abiogenic. The generally accepted theory of petroleum formation doesn’t state that it is a biogenic process. I discussed this in detail in a 2017 post. I don’t intend to restate it here.

In this post, “abiotic oil” refers to petroleum formed by processes that do not rely on biological source material. The carbon in “abiotic oil” must be inorganic.

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The Relevance Of Hayek’s Triangle Today

By Alasdair Macleod – Re-Blogged From Gold Money

Most of us are aware of the inflationary pressures in the major economies, which so far are proving somewhat latent in the non-financial sector. But some central banks are on the alert as well, notably the Federal Reserve Board, which has taken the lead in trying to normalise interest rates. Others, such as the European Central Bank, the Bank of Japan and the Bank of England are yet to be convinced that price inflation is a potential problem.

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Caterpillar’s Dilemma

By Thomson Reuters – Re-Blogged From Newsmax

Orders for the mining machines and construction bulldozers made at this sprawling Caterpillar Inc. factory in central Illinois have jumped, in general, three-fold over the past year.

But meeting that boom in demand at the world’s largest heavy equipment manufacturer is a challenge, in part because of Caterpillar (CAT) suppliers like Steve Kirsh.

Image: Caterpillar's Dilemma: Keeping Up With Surge in Demand During Boom

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The Coming Silver Supply Crunch Is Worse Than You Know

By Jeff Clark – Re-Blogged From http://www.Silver-Phoenix500.com

For data wonks like me, the annual Yearbooks from various gold and silver consultancies make for fun reading. You can always find little gems about what’s going on in the markets, and sometimes you can spot changes in trends early on. Seeing a compelling chart, especially one that’s not been widely reported, is almost as exciting as seeing my wife in a short skirt on date night.

Well, I’ve got a series of charts for you that point to a silver trend that is so entrenched in its development, so inevitable in its outcome, so inescapable in its consequences that it comes as close as one can get to a guarantee. And once fully underway, it will have major implications for the silver price, along with the availability of investment metal.

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Global Gold Supply Flat

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

China gold production falls by 9% to 420.5t in 2017
– Chinese gold demand rose 4% to 953.3t in same period
– China is largest producer and accounts for 15% of global gold production

– China does not export gold. Increasing foreign gold acquisitions to meet demand
– Global gold production flat – 3,269t in ’17 from 3,263t in ’16, smallest increase since ’08
– Peak Gold is here: supply set to fall gradually while global demand remains robust

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The Only Commodity Supply-Demand Indicator That Matters

By Steve Saville – Re-Blogged From http://www.Silver-Phoenix500.com

For an industrial commodity with a liquid futures market, the “term structure” of the futures market is the most useful — perhaps even the only useful — indicator of whether physical supply is tight, abundant or somewhere in between.

The term structure of a commodity futures market is the prices of futures contracts for the commodity over all available expiration months. It can be displayed as a chart, with price along the vertical axis and the expiration months along the horizontal axis. Here are examples for oil and copper.

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