Is oil industry’s doom approaching?
The chorus of doom surrounding the financial future of the oil sector added another voice last week, the consulting firm McKinsey & Co. The firm revised earlier rosy predictions and is now forecasting that global oil demand could peak in 2030 if electric cars gain momentum and the world shifts to more recycled plastic, a major market for petroleum. The firm raised the specter that global oil demand would top out around 100 million barrels a day – only 6 million more barrels than the world uses now. That’s a long way from the forecasts laid out by most oil companies. Exxon Mobil, for instance, is predicting oil demand will rise 20 percent through 2040. Carbon rules delayed, but not the debate The Obama administration’s plan to slash carbon emissions from the power sector might be held up in the federal courts, but that hasn’t done anything to quiet […]
Our Imperial weapons give definite form to our Empire. And nothing has shaped our Empire more than the FIAT. The deformation began in 1971, when the US imposed her Power to re-define the rules of the monetary system for her sole benefit. The ability to print IOU’s in exchange for real value is more clever than theft as we borrow and do not pay back in kind due to inflation. Our enemies, adversaries and vassals must found their financial systems upon the printed dollar which they must purchase with hard earned money. That seizure has financed a vast network of military bases, bribery, assassinations, coup d´états and perpetual war.
What’s more interesting, because it can provide perspective, is to look at what fascism is (or was) prior to, and beyond, Hitler and Germany. One man stands out in this: Benito Mussolini, Italian prime minister slash wannabe dictator from 1922 till 1943, who’s even often labeled the founder of fascism (though its roots go back much further). But for Mussolini, fascism was not what Hitler has made us define it as.
One company then introduces a machine (costed at $n) that makes jeans using a lot less labour time. Each of these robot assisted workers is paid the same hourly rate but the production process is now far more productive. This company, ignoring the capital outlay in the machinery, will now have a much higher profit rate than the others. This will attract capital, as capital is always on the lookout for higher rates of profit. The result will be a generalisation of this new mode of production. The robot or machine will be adopted by all the other companies, as it is a more efficient way of producing jeans.
Nikkei tumbles 3.5% as Asian stocks plunge on Brexit fears
Stocks in Japan plunged on Monday as worries about a potential exit by the U.K. from the European Union left investors scrambling for safe haven assets, sending the Japanese yen stronger and bond yields lower yet again.
The Nikkei Stock Average NIK, -1.00% posted its steepest loss in six weeks. It closed down 3.5%, leading losses in Asia. Shares are down nearly 16% since the beginning of the year.
“I think what we are seeing is a tide of risk aversion,” said Shinsuke Sato, head of FX trading group at Sumitomo Mitsui Banking Corp., referring to U.S. stocks losing ground Friday and recent polls signaling growing momentum in favor of the U.K. leaving the E.U., which voters will decide in a referendum on June 23.
