koso_man
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U.S. officials cut estimate of recoverable Monterey Shale oil by 96%
https://www.latimes.com/business/la-fi-oil-20140521-story.html
If anybody has the time, i would highly recommend watch this speech by an islamic scholar in Louisville. I wouldn’t be surprised if he’s a reader of the Automatic Earth!
(His speech begins at 15:40)
“Checkmate for Cheap Unconventional Gas”
https://www.ft.com/intl/cms/s/0/3ba2a206-b0f2-11e3-9f6f-00144feab7de.html#axzz2wvmCEM8I
Ken,
I think his assumption that Chinese demand will continue growing robustly is a bit optimistic. Honestly can’t see China growing in the years to come the way they have since the 90’s.
His assertion that supply constraints caused the West’s GDP growth to slow and the crisis in 08 is erroneous in my opinion. The most it could have done was exacerbate the problem but that’s all.
All in all i thought it was a brilliant and very interesting presentation nonetheless.
Very interesting presentation on supply side constraints in the oil market.
The idea of peak oil isn’t as dead as presumed. Though i disagree with some of the assertions made by the presenter, its still a very worthwhile presentation.
Its just a constant death march isn’t it? It just gets depressing after a while.
Im not quite sure when its gonna happen this year, but the fed and other central banks will get back on that QE ride and keep this show going a little while longer, and people will keep on going about life like everything is hunky dory. I honestly feel like i’ve been living in a circus ever since i’ve realised the road we’ve been heading to (kudos to TAE for that!).
Looks like the Fed is gonna have to reboost QE, maybe to $100 Billion a month. Wouldn’t suprise me if this happens sometime this year.
Ilargi, one question i wanted to ask. You said in 2010 that QE wont be inflationary and that betting against the dollar would be a stupid move. I think you’ve been proven correct.
However, isn’t it to the U.S. advantage for the dollar to be strong (relative to other currencies) as this means imports are cheaper, and seeing as the U.S. is still a net importer, it therefore has a smaller deficit.
I think the fact that the deficit has been significantly reduced compared to the levels seen in 2009-11 is testament to that fact.
Im by no means an economist but i’d like to know what your thoughts are on whether the FED intentionally let the dollar increase in value relative to other currencies.Thanks,
KosoOh by the way, reading through the archives of the Automatic Earth was eye-opening and time very much well spent. Really wanted to thank you, Stonleigh and Ashvin (Want happened to him btw, his picturing christ blog doesnt seem to function anymore. I know he did a few posts on the doomstead diner but he seems to have vanished, hope he’s ok).
Hope you guys are getting the financial support you deserve, you absolutely deserve it.
I always wanted to move back, since after the war in 1999 i came here to visit relatives every summer as a kid with my family and i just loved how people were so much closer and less atomised, it appealed to me. I think that was the big attraction for me, which sadly has lost its appeal because with post-war development, people have become more atomised even here, though much less than in Western countries.
I moved back in the summer of 2012 when i was 23, when things didn’t really look good employment wise in London so i figured if i was gonna up sticks and try and make a life in kosovo, that was the best time to give it a go.
One more question, is there any other way i can donate to the site other than through paypal?
I’m actually from Kosovo, lived in London for the majority of my life but i’ve moved back to Kosovo a year and a half ago. The ironic thing about this post is that we’re actually suffering from a drought currently!
https://www.kswo.com/story/24395033/lack-of-snow-leaves-kosovo-with-a-drought
Ilargi, there something i want to ask you. I actually took a few days to read all the blog posts since the inception of the Automatic Earth in early 2008. I remember in one of those posts (i think sometime in 2009) you either wrote or quoted someone as saying that Government/Fed policy towards the deflation crisis was like someone on the beach trying to stop a tidal wave.
I was wondering whether it would have been better to describe what they were doing as trying to stop the rumblings of an earthquake that would have definitely created the tidal wave of deflation, and that in hindsight, they’ve been somewhat successful in that respect. Obviously the definition of success i’m using is totally warped as essentially what they’ve done is make sure that sometime in the near to midterm future, that wave will be twice as big.
Thanks.
