About the authorPaul VegasShare the loveHave your say Brighton teen Haydon Roberts stunned by goalscoring debutby Paul Vegasa month agoSend to a friendShare the loveBrighton teen Haydon Roberts is still floating after scoring on debut in midweek.The defender, 17, headed home from a second half corner in their Carabao Cup defeat to Aston Villa.He told brightonandhovealbion.com, “I didn’t think it was real, it’s what you dream of when you’re growing up. “To do it for my hometown club as well was just amazing and makes it even better, although we didn’t go through it’s a night I’ll never forget.“I didn’t get much sleep, I wanted to spend the time afterwards with my family – there were so many messages and I wanted to share it with them.“I still can’t really get over it now, scoring on your debut with man of the match as well is fantastic.”
Parker was also unsuccessful in his request for an order requiring the removal of a structure called the Watch House, sayingit’s on a pipeline right of way and would cause significant safety risks.“I’m sensitive to the concern of those who created this Watch House, that it is of considerable significance to them,” Afflecksaid of the structure that was erected near the Burnaby Terminal on Saturday, when people marched against the pipeline. VANCOUVER, B.C. – Protesters must be restrained from obstructing the expansion of the Trans Mountain pipeline, says a British Columbia Supreme Court judge who has granted the company an injunction aimed at preventing people from entering within five metres of two work sites.Justice Kenneth Affleck said Thursday he felt it necessary to make a decision on the second day of a hearing instead of issuing a written order involving outraged demonstrators who have blocked vehicles and workers at the Burnaby Terminal and the Westridge Marine Terminal.The injunction is indefinite, allowing Trans Mountain to continue work it’s legally entitled to do after the federal government approved the twinning of an existing pipeline from Edmonton to Burnaby in the belief it is in the best interest of Canada, Affleck said. Trans Mountain has said that while protests began last November, it sought an injunction after demonstrators began intensifying their blockades recently when trees were being cleared. It said construction at the sites in Burnaby, B.C., is expected to last until December 2020.Affleck agreed with lawyers for two of 15 named defendants in a notice of civil claim that a 50-metre perimeter as part of aninterim injunction he granted last week was too broad because it encroached on private property and trails.Trans Mountain’s lawyer, Shaun Parker, requested a structure called Camp Cloud near the Burnaby Terminal be removed, calling it a “hotbed of aggressive activity” for protesters who want to “destroy the project.”But the judge said it will stay.“In my view there has to be a means of allowing the protesters who object to this work to remain reasonably close to the site,” Affleck said. “The plaintiff is going to have to tolerate a certain amount of agitation.” He said Trans Mountain would have to demonstrate any emergency need to remove the Watch House but would then have to replace it.Casey Leggett, a lawyer for one of the defendants, said citizens have a constitutional right to protest the expansion of the pipeline.“The inconvenience, which my friends call a blockade, hasn’t gotten to the level of establishing irreparable harm,” Leggett said.He read from affidavits presented in court by a Trans Mountain lawyer, saying the company’s security staff noted protesters have sometimes stood peacefully at or near access roads to two marine terminals in Burnaby without disrupting vehicles or workers and left after police arrived.He said in one case, a woman was seen praying on a road and didn’t engage with security staff while on another day a woman sat in a lawn chair as vehicles were guided around her at slow speed.Affleck said while the first protesters’ conduct was unobjectionable, the second woman had no right to sit in the middle of a public road and the police would be justified in removing her.The judge also suggested Leggett was cherry-picking incidents that did not involve blockades aimed at stopping work at the terminals.Leggett replied that Trans Mountain had done the same and also focused on blockades rather than inconvenience, which he said does not justify an injunction.Activists have said they will continue opposing the $7.4-billion project despite the injunction.(THE CANADIAN PRESS)
The five electoral areas are shown below:Area 1: Cecil Lake, Goodlow and Clayhurst – one trusteeArea 2: Prespatou, Buick, Rose Prairie, Doig RiverFirst Nation, Blueberry River First Nation, North Pine, Montney and Wonowon (east) – one trusteeArea 3: Hudson’s Hope, Upper Cache, Tsay Keh Dene Nation and Williston Lake – one trusteeArea 4: Taylor, Baldonnel and Two Rivers – one trusteeArea 5: Fort St. John, the Upper Halfway, Halfway River First Nation, Wonowon (west), Charlie Lake, Pink Mountain and north to Mile 225 on the Alaska Highway – three trusteesIn order to be eligible to run, you must be over the age of 18, have lived in B.C. for at least six months and be a Canadian citizen. Candidates don’t have to live in the electoral area where they’re running. School District #60 trustees receive an annual indemnity of $13,045 that is paid monthly.Voting day goes on October 20th. For more info click here. FORT ST. JOHN, B.C. – So you wanna be an SD60 Trustee? Then visit the School District 60 candidate information meeting Tuesday at 7:00 p.m.The event will show residents exactly what it is like being a trustee for a district with approximately 6,000 students.During this year’s election, seven people will be voted in to represent five electoral areas. Current board members Bill Snow, Erin Evans and Ida Campbell have all decided to run again while Candace Dow, Jarret Thompson and Linda Stringer will step down.
Now that zoning has been put back to its original state the church will sell the property and is looking forward to finding another piece of land in FSJ and building there.To read more about the Anglican Church and the selling of their land CLICK HERE FORT ST. JOHN, B.C. – Council approved the rezoning application for the Anglican Church to return the designation of the land from Institutional to Low-Density Residential.At the public hearing held January 14th, 2019 during the Council Meeting, Council approved the Zoning Amendment for 8907 – 112 Avenue which is the land owned by the Anglican Church.“Two years previous this property had changed its zoning from residential to institutional in order to build a Church on the land. At the time of purchase, no one caught there was a ‘building scheme’ attached to the land, and it could not be removed.” says Bishop Lehmann
The Premier League fixtures have now been released with new Arsenal boss Unai Emery set for a challenging first game in charge against the defending champions Manchester City at the EmiratesLife after Arsene Wenger looks set to be a challenging start for the Gunners in this new era with a trip to Stamford Bridge to face former champions Chelsea coming straight after playing against Pep Guardiola’s men.Meanwhile, last season’s runners-up, Manchester United, will host Leicester City at Old Trafford with third-placed Tottenham set to travel to St James’ Park to face off against Rafael Benitez’s Newcastle United side.Manuel Pellegrini looks set to face a difficult start at West Ham United against last season’s Champions League runners-up Liverpool.The newly-promoted Wolverhampton Wanderers will host Everton in what will be their first Premier League game in six years and fellow promoted side Cardiff City are set to travel to Bournemouth for their first game.Report: City are stunned by Norwich George Patchias – September 14, 2019 Manchester City was stunned by Norwich City in todays Premier League clash.Much has been made in recent days of the potential impact of Aymeric…Play-off winners Fulham will host Crystal Palace.? Announcing the 2018/19 Matchweek 1 #PLfixturesFull list ? https://t.co/iQKSN9XtKw pic.twitter.com/N5BOj8oVN0— Premier League (@premierleague) June 14, 2018
Cardiff City manager Neil Warnock says they were unlucky not to have been awarded a penalty in their goalless draw with Huddersfield Town on Saturday.Despite Warnock’s claims, Cardiff City should count them lucky after referee Lee Mason overturned a penalty he awarded to Huddersfield Town in the 76th minute.Cardiff felt they were denied clear penalty calls when Philip Billing’s header hit Erik Durm’s arm and when Hoilett was brought down by Hadergjonaj.“We knew we’d be struggling a little bit today,” Warnock told Sky Sports.“We had one or two players who shouldn’t have been playing. Callum Paterson and Victor Camarasa weren’t really fit but I wanted to play them.Cowley explains why he changed his mind about Huddersfield Manuel R. Medina – September 9, 2019 Last week Danny Cowley rejected the chance to coach Huddersfield Town in the English Championship, but today he accepted saying it was a good opportunity.“I thought we had the opportunities but we didn’t get the rub of the green although thankfully the linesman was alert to overturn the penalty. We thought ours was a certain penalty for a foul on [Junior] Hoilett.“The lad doesn’t see him coming, he gets to the ball first, and he takes the man.“I don’t understand why they can’t be given but I suppose next season with VAR, we’ve got a chance.”
Colombian forward Luis Muriel is back in the Italian Lega Serie A, and as soon as he landed he spoke about how he feels now with Fiorentina.Colombian forward Luis Muriel has returned to the Italian Lega Serie A.The 27-year-old already knows the league, having played there with Udinese, Lecce, and Sampdoria.But he spent more than one year and a half with Sevilla in the Spanish La Liga.And now he signed with Fiorentina on a one-year loan with an option to buy him.Fiorentina owner: “Ribery played better than Ronaldo!” Andrew Smyth – September 14, 2019 Fiorentina owner Rocco Commisso was left gushing over Franck Ribery’s performance against Juventus, which he rates above that of even Cristiano Ronaldo’s.“I am really happy to be here,” he told Gianluca Di Marzio.“I gave my word to [director of football Pantaleo] Corvino.”“I can’t wait to get on the field,” he said with a smile.“It is nice to return to Italy and it is a league that I know well.”
According to Communications Liaison for the district, Pegge Erkeneff, the cameras were installed in 2013. Parents are sent a reminder at the start of each school year. For more information, view Board Policy 3515 School Safety and Security. Parents are asked to contact their school principal with questions regarding the cameras. Facebook0TwitterEmailPrintFriendly分享All Kenai Peninsula Borough Schools are equipped with digital security cameras to allow administrators and, if needed, local police, to monitor school entrances, hallways and other areas. According to the letter the cameras are located in public areas inside and outside of the school buildings. The letter also states that no cameras are placed in areas where students, staff, or community members have a reasonable expectation of privacy, e.g., a bathroom or a locker room. In a letter sent to KPBSD parents on Thursday from KPBSD Superintendent John O’Brien, “Each school day over 8,000 students attend our 42 schools. While at school, the safety and security of your child(ren) is always our number one priority. As a way to ensure this, the school district and the borough have installed security cameras at your child(ren)’s school. “ O’Brien: “School security is the main purpose for the cameras. However, recordings may be used in disciplinary proceedings. In addition, matters captured by the cameras may be referred to local law enforcement, as appropriate.”
La contienda electoral entre el senador republicano Ted Cruz y el demócrata Beto O´Rourke, que será decidida en noviembre en las urnas, está en empate en intención de voto, según una encuesta reciente.Jerónimo Cortina explica En Pocas Palabras por qué los latinos podrían tener la llave del desempate. Share
Share J. Scott Applewhite/APIn this May 15, 2019, file photo, acting U.S. Customs and Border Protection Commissioner John Sanders, left, joins Senate Judiciary Committee Chairman Lindsey Graham, R-S.C., right, on Capitol Hill in Washington. Sanders says he’s stepping down amid outrage over his agency’s treatment of detained migrant children.The acting commissioner of U.S. Customs and Border Protection said Tuesday he’s stepping down amid outrage over his agency’s treatment of detained migrant children. John Sanders said in a message to CBP employees that he would resign on July 5.CBP is the agency that apprehends and first detains migrant parents and children crossing the U.S.-Mexico border. Lawyers who visited CBP facilities last week described squalid conditions: inadequate food, lack of medical care, and children trying to care for toddlers.Six children have died since late last year after being detained by CBP.Sanders pushed Congress to pass $4.5 billion in humanitarian funding. In an interview last week with The Associated Press, Sanders talked about how the deaths “impacted him profoundly.”Additionally, an official from U.S. Customs and Border Protection said Tuesday that the “majority” of the roughly 300 children detained at a Border Patrol station located in Clint, Texas, have been placed in facilities operated by the Office of Refugee Resettlement. Lawyers had reported children detained in Clint, about 25 miles southeast of El Paso, were caring for each other and had inadequate food, water, and sanitation.
Kolkata: The Trinamool Congress (TMC) issued a whip today to its Lok Sabha members to be present in the House on July 20 when the opposition-sponsored no-confidence motion would be taken up for discussion. TMC chief national spokesperson Derek O’Brien told PTI that the whip was issued to all 34 party MPs in the Lok Sabha. “They (the MPs) will participate in the discussion and voting in the Lok Sabha and return to Kolkata,” he said. O’Brien added that the party would observe its annual “Martyr’s Day” rally in Kolkata on July 21. This year’s rally will be the 25th anniversary of the event. Lok Sabha speaker Sumitra Mahajan announced that the House will take up discussion and voting on the no-confidence motion on July 20. The motion was brought against the Narendra Modi government by the TDP and opposition parties.
Kolkata: The Enforcement Directorate (ED) on Thursday raided various locations and office premises of Shree Ganesh Jewellery House here in connection with a Rs 2,672 crore money laundering case, an official said. “Our officials have started search operations at 11 locations including Shree Ganesh’s office premises and residences of its senior officials in the city,” an ED official said. The agency has been investigating the case under the Foreign Exchange Management Act, 1999 and under the Prevention of Money Laundering Act, 2002. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killed Based on a complaint of defrauding a consortium of banks led by the State Bank of India (SBI) for non-payment of loan to the tune of Rs 2,672 crore, the Central Bureau of Investigation (CBI) had earlier commenced an investigation against the company. Subsequently, the Directorate of Revenue Intelligence (DRI) had, in June 2018, arrested Nilesh Parekh, the promoter of the company in the alleged diversion of primary gold of over 1,700 kg. According to DRI officials, the firm having several units in Manikanchan Special Economic Zone (MKSEZ), Kolkata, was allegedly involved in diversion of gold imported duty free on the strength of being a nominated agency and also in its capacity as an SEZ unit. Also Read – Bose & Gandhi: More similar than apart, says Sugata Bose “Currently, Parekh is on an interim bail and there was restriction on his movement outside of the city. We are in process of finalising a charge sheet against him, which will be filed soon,” a DRI official told IANS. During investigations, the agency found the accused to “be actively involved in the fraud of diversion of primary gold of over 1,700 kg among other violations like non-realization of remittance on account of export of gems and Jewelleries to the tune of Rs 7,500 crore” to the several dummy and shell companies at Singapore, Hong Kong and Dubai.
Police search for missing woman Driver named following fatal collision Dad slams ‘disgusting’ hospital window Follow StokeonTrentLive Download our app – You can download our free app for iPhone and iPad from Apple’s App Store , or get the Android version from Google Play . Follow StokeonTrentLive on Facebook – Like our Facebook page to get the latest news in your feed and join in the lively discussions in the comments. Click here to give it a like! Follow us on Twitter – For breaking news and the latest stories, click here to follow SOTLive on Twitter . Follow us on Instagram – Featuring pictures past and present from across Stoke-on-Trent, North Staffordshire & South Cheshire – and if you tag us in your posts, we could repost your picture on our page! We also put the latest news in our Instagram Stories. Click here to follow StokeonTrentLive on Instagram . Get the biggest Daily stories by emailSubscribeSee our privacy noticeThank you for subscribingSee our privacy noticeCould not subscribe, try again laterInvalid EmailThe A53 in North Staffordshire remains closed following a ‘serious’ traffic accident. Police confirmed they have closed the road in the Ashley area, in Newcastle Borough, following the accident near the junction of the A51 at around 11.30pm last night (Wednesday August 7). The accident is understood to involve three vehicles – and a collision investigation is underway. A Staffordshire Police spokesman said: “The A53 at Ashley is currently closed in both directions, The closure is in place at the junction with the A51 at Blackbrook and Wesleyan Road at Ashley, due to an RTC. Please consider alternative routes.” At 8.15am today police confirmed the road remained closed and asked motorists to consider alternative routes. Inrix, the traffic data company, is now listing the road as closed between Pinewood Road and Top Rock Road – and other reports also suggest the road is shut this mroning (Thursday August 8). A Staffordshire Police spokeswoman said: “Officers are currently dealing with a serious road traffic collision involving three vehicles.” “A call to a report of a collision involving a car, a van and a HGV on Sandy Lane was received at around 10.30pm (7 August). “A road closure is currently in place and is expected to be for a few hours while an investigation gets underway. “Anyone with information or dashcam footage that may assist with the investigation can call 101 quoting incident number 836 of 7 August.” We have contacted West Midlands Ambulance Service and Staffordshire Police for comment. We have no further details about the collision at this stage and will bring you an update when one becomes available. Read MoreTop stories on StokeonTrentLive Punter found hiding in bushes
Posted by Buy 1, get 2nd at 50% off with Sunwing’s BOGO sale Monday, November 12, 2018 Share Travelweek Group TORONTO — Sunwing is bringing back its popular BOGO sale, but for one week only.With the sale, clients can buy one vacation package and get the second at 50% off when purchasing select vacation packages from a range of resorts across the Caribbean, Mexico and Central America.Bookings must be made by Nov. 16 for departure dates from January 2019 onwards.Clients can also take advantage of cruise packages with Norwegian Cruise Line departing from select airports throughout February.Moreover, Canadians who book with Sunwing during this promotion can get more value with perks like Kids Stay, Play and Eat FREE deals, unlimited specialty dining, discounted spa treatments and exclusive access to private beach and pool areas.Participating resorts include the brand new Grand Memories Punta Cana featuring stylish accommodations that can fit five or more guests as well as access to one of the largest on-site water parks in the Caribbean.More news: CIE Tours launches first-ever River Cruise CollectionAlso included in the promotion is the Riu Dunamar on Playa Mujeres beach in Cancun. This family-friendly resort features its own water park, complimentary non-motorized water sports like kayaking, a supervised kids club, the Renova Spa and a host of RIU-topia perks such as in-room liquor dispensers and reservation-free dining at specialty restaurants.There’s also Sunscape Splash Montego Bay located near Dunn’s River Falls, which also includes a pirate-themed water park complete with 250-foot waterslides.All Sunwing packages include return flights on Sunwing Airlines. Tags: Sales, Sunwing << Previous PostNext Post >>
Before we get into this week’s topic, I want to remind everyone that I will be at the upcoming Cambridge House Investment Conference in Vancouver on January 22 and 23, along with other Casey Research editors including Louis James and Jeff Clark. If you are an investor and you are serious about making money, investment conferences like this are indispensable. In the showroom you’ll have the opportunity to meet with management teams from more than 500 companies, while in the presentation halls industry leaders teach audiences about current trends, investment techniques, and commodity forecasts.This year we are making it easier for you to learn from our in-house experts by setting up a Casey Pavilion. Inside you will find a steady stream of investment information as our Casey editors give talks and have panel discussions amongst themselves and with our Explorers’ League honorees and the members of the Casey NexTen.Check out the full list of Casey Pavilion events. If energy is one of your areas of interest, be sure to check out my talks, including a talk on The Truth About Fracking on Sunday afternoon. Casey Energy team analyst Joe Hung is also speaking that day, as are NexTen members Amir Adnani and Morgan Poliquin.If you will be in Vancouver on January 22 and 23, you should make time to come by the show. Register now at the Cambridge House website – the show is free if you register ahead – and mention you learned about it through Casey Research.Best regards,Marin KatusaChief Energy Investment Strategist Casey Research Green Energy Is a Financial ParasiteAny politician who talks of a green, utopian US – where wind and solar produce most of our energy, electric cars put power back into the grid, green fields of corn produce clean fuels, and millions of Americans work in green technology factories – is creating a fanciful vision so far detached from reality it should really be called a lie. Such tales are designed to encourage a public that is increasingly despondent about the future, but the policy moves that have been made in support of these fantasies have cost taxpayers tens of billions of dollars. Much of it is money that will not be repaid, because a whole whack of the companies and industries that accepted green grants, loan guarantees, and tax credits have turned out to be complete failures.Two green subsidies expired with 2011, and not a moment too soon. In fact, we wish more of the US government’s initiatives to support green energy had ended with the stroke of midnight, because the green energy industry has become completely dependent on a steady stream of government money. Protected by this “green gold,” green technologies from corn ethanol to solar power have not had to compete against other power sectors based on their merits. If they had, many would have already failed.Let’s a take tour through some of the US’s green subsidies and examine just how they have tipped the scales in favor of technologies that generally don’t stand the test of economics, are often worse for the environment than conventional methods, and are costing taxpayers dearly.There‘s nothing good about corn ethanol fuelOn New Year’s Eve the corn ethanol subsidy quietly expired, 30 years after it was implemented. In those three decades ethanol became the US’s top recipient of alternative-fuel funding, with corn ethanol in particular becoming the darling of the biofuels craze. As a darling should be, the industry was showered with money: Over the last 30 years the federal government has spent $45 billion supporting corn-ethanol producers. In 2011 alone the feds spent $6 billion on corn ethanol subsidies, equating to 45¢ for every gallon of ethanol. Even with that support, US corn ethanol was not able to compete with Brazilian ethanol, which is made from sugar cane. To rectify that, lawmakers instituted a 54¢-per-gallon tariff against the Brazilian product. Together, the 45¢ subsidy and the 54¢ tariff meant American-made corn ethanol was supported to the tune of almost $1 per gallon.That would be great were ethanol a good way to reduce greenhouse gases, lower energy costs, or increase US energy independence. Unfortunately, it fails on all of those fronts. A growing left-right coalition has been speaking out against ethanol as a fuel for some time now; the latest voice to join the chorus is none other than the National Academy of Sciences. In October, NAS researchers concluded that grain ethanol “could not compete with fossil fuels in the U.S. marketplace without mandates, subsidies, tax exemptions, and tariffs… This lack of competitiveness raises questions about the use of government resources to support biofuels.” The report went on to discuss how biofuels actually increase net carbon emissions: pumping energy-intensive row crops into gas tanks leads to land use changes that increase greenhouse gases.Continuing down the list of ethanol-as-a-fuel failures, it turns out ethanol is very tough on vehicles – a bill to allow gasoline to contain 15% ethanol (compared to the max 10% now allowed) was shot down after every major automaker said that much ethanol would cause significant engine corrosion. Then there’s the fact that corn ethanol subsidies also generated a host of painful side effects. One is literally making us fatter: widespread use of high fructose corn syrup. Starting in the mid-1980s farmers realized that, even when sale prices for corn were low, the government’s largess meant it was still worthwhile to grow the stuff. More and more corn was grown, beyond what could be consumed by people or livestock or made into fuel. What were producers to do with the rest of it? Make high fructose corn syrup, a sweetener that is now in hundreds of thousands of products and that contributes thousands of empty calories to the average American diet every week.So ethanol is uneconomic unless the government spends billions of taxpayer dollars supporting it, worse for the atmosphere than fossil fuels, and really hard on engines, while the support system to encourage corn-based ethanol production is contributing to the US obesity epidemic. Why, then, is ethanol even used in fuel? Because of all those government subsidies and mandates. After major lobbying efforts from the agricultural and biofuels industries, Congress mandated annual increases in use of renewable fuels, including ethanol, starting with 15 billion gallons in 2007 and growing to 36 billion gallons in 2022.So fuel makers have to include ethanol in their mixtures. Too bad that rule did not also expire.Electric vehicles: expensive toys that basically burn coal instead of oilAnother lesser-known tax break also expired with 2011: the credit that gave electric car owners up to $1,000 to defray the cost of installing a 220-volt charging device in their homes, or up to $30,000 to install one in a commercial location. A related subsidy that did not end still gives $7,500 in tax credits to purchasers of electric vehicles. For a variety of reasons, like the ethanol subsidy none of these incentives should have existed in the first place.Electric vehicles have failed on one front after another. To start, they are inordinately expensive – the much-lauded Chevy Volt costs $40,000, while the Karma from Fisker costs a whopping $100,000. This means electric vehicles are only affordable for the wealthy; it’s pretty hard to understand why American taxpayers should subsidize cars for the wealthiest members of society. The subsidies go beyond direct tax credits and rebates – government loans and grants in support of the Volt alone total $3 billion, which means each car produced to date has been subsidized to the tune of $250,000. (Volt supporters contest this number, saying subsidies only total $30,000 per vehicle… still not an insignificant amount.)Then, for all that money, you still can only drive short distances. The Volt’s official range is 30 miles, but reports show it can actually travel only 25 miles before needing to either recharge or switch to gasoline. There’s also the issue that electric vehicles still need power, and the electricity that charges their batteries comes primarily from the US power grid, to which the largest contributor is coal-fired power plants. As such, a Volt essentially burns coal instead of gasoline, at least for the 25 miles it can drive before switching to gas.At least coal is a domestic resource, compared to gasoline derived from imported crude oil, right? Well, let’s see just how much electric vehicles will reduce US oil consumption. Assuming there are 6 million of them on American roads in ten years, out of 300 million passenger vehicles, and assuming that passenger vehicles continue to account for 40 to 45% of total US oil consumption, in ten years these tens of billions of dollars spent to support electric vehicles will have reduced US oil consumption by less than 1%. When you add in the fact that lithium-ion batteries are pretty toxic items, and that coal- or natural-gas-derived electricity demands will go up with each electric vehicle, the case for electric vehicles becomes pretty darn weak.Solar and wind power: a financial sinkholeElectric vehicles and corn ethanol fuel are not the only green industries that have been producing pitiful returns on government investment: Solar and wind power are just as guilty of eating up huge subsidies and still failing to break even economically.Let’s start with an example – one that was highlighted in a recent New York Times article. NRG Energy is building a 250-MW solar project in San Luis Obispo Country (northwest of Los Angeles), known as California Valley Solar Ranch. The ranch’s one million solar panels will provide enough energy for 100,000 homes, but it will cost $1.6 billion to build. Most of those dollars are coming from government subsidies or low-interest loans.All told, NGR and its partners secured $5.2 billion in federal loan guarantees plus hundreds of millions in other subsidies for four large solar projects. The crazy thing is, the government is giving out these grants and loans despite information from its own researchers that solar power is uneconomic now and will remain so in the future. The US Energy Information Administration predicts that by 2016 the total cost of solar photovoltaic energy will be about $211 per megawatt-hour, compared to $63 for an advanced natural-gas combined-cycle power plant.Just as with corn ethanol, it’s the taxpayer who bears the brunt of this obsession with expensive solar power. The main federal subsidy currently covers 30% of the cost of a residential solar system. When other subsidies are added in, as much as 75% of the cost can be covered. Obama’s administration has spent $9.6 billion on solar and wind power through the Section 1603 Treasury grant program over the last few years.With that kind of support, it’s no wonder America is in love with solar power. In 2011, solar installations skyrocketed, with 1,700 MW installed during the year, an 89% increase over 2010. Still, all of the panels now installed across the nation produce only about as much electricity as a single coal-fired plant. And even with demand growing rapidly, the industry is awash in debt and bankruptcy.US solar manufacturers are being pushed out of the market by low-cost Chinese manufacturers, which get even more support from their government than Obama gives to American producers. In California, for example, Chinese producers held 29% of the market at the beginning of 2011; by the end of the third quarter they had grown their market share to 40%, while US manufacturers saw their share fall from 37% to 29%. And with the Chinese flooding the market with cheap solar panels, prices for solar panels fell by 40% in 2011.Falling prices for solar panels and dwindling market shares forced three US solar companies into bankruptcy in 2011 and recently necessitated staff cutbacks at another two companies. This is all happening despite billions in loan guarantees to these companies. First Solar, for example, took $3 billion in loan guarantees from the federal government to develop three solar farms in Arizona and California. Now the company is cutting half of its staff, including 60 jobs in California where it received $3 million in state sales tax credits.Of course, the most notable solar bankruptcy of 2011 was Solyndra, the California-based company that went bankrupt months after receiving a loan guarantee of $535 million from the US government and despite increased demand for solar panels in the country following implementation of state mandates for solar energy.And things are about to get a lot tougher for struggling solar panel producers in the US, because the 1603 program expired on January 1. When you add up grants, subsidies, loans, and tax credits that have been helping the solar and wind industries along, then add in mandates that require utilities to buy renewable power at set prices from the alternative energy producers for decades, you are left with an industry that is wholly dependent on taxpayers, not on its own technology’s capabilities. Forced to go it alone in the power industry, solar and wind producers are not going to survive.Leveling the playing fieldIn chasing the green power dream, the US is not alone. In fact, it trails several European countries in the effort. Germany and Denmark have the largest installed bases of alternative energy in Europe and are often held aloft as examples of how to encourage wind and solar power. Proponents usually stay mum on the fact that retail customers in Germany and Denmark pay the highest electricity rates in the European Union.It is true that progress is never easy and is often expensive. From that pulpit, advocates argue that continued investment in green technologies will drive prices down in the long run. However, this reasoning ignores the other side of the problem: solar and wind can never produce baseload energy. The average wind plant in the United States runs at about one-third of its rated capacity, while solar plants runs at about 25% of their nameplate capacity. Since there is no way to store large amounts of electricity, the variable outputs from solar and wind facilities will only ever be able to replace a modest amount of conventional baseload power.When you look at green subsidies on an energy production basis, the disparity becomes pretty stunning. Wind’s 5.6 cents per kilowatt hour is more than 85 times that of oil and gas. Solar power costs 13 times more than wind, making solar more than a thousand times more expensive than conventional fuels.Wind and solar power, corn ethanol, and electric vehicles are not infant industries in need of support. They are perennially inferior industries that only still exist in their current forms because of a constant stream of “green gold.” That stream is slowly drying up, thankfully. The only way to achieve the very admirable goal of transforming society into an energy-efficient space is to eliminate all of the subsidies that are currently directed at green energy and clean technology while increasing taxes on the things we are trying to minimize, such as gasoline consumption and plastic bags. That would force everyone to innovate, compete, and win or lose according to merit.[With green energy unable to fulfill its promise as a viable alternative to conventional fuels, crude oil prices are poised to skyrocket. That will be bad news at the pump, but good news for investors who get in on a little-known “energy dividend.”] Additional Links and ReadsSinopec, Total Pour $4.5 Billion into US Shale (Reuters)On the first Tuesday of the year, China’s Sinopec and France’s Total SA both announced major deals to buy stakes in US shale projects; the combined $4.5 billion investment indicates that the global appetite for US energy assets remains strong. Foreign oil and gas producers are eager to invest in America’s shale formations, home to billions of cubic feet of natural gas and liquids. Sinopec signed a $2.2-billion deal with Devon Energy (N.DVN) for a 33% interest in five shale fields ranging across parts of six states, while Total’s $2.3-billion deal with Chesapeake Energy (N.CHK) gave the company 25% of 619,000 acres in the Utica Shale in Ohio.Shale Bubble Inflates on Near-Record Prices (Bloomberg)The Sinopec and Total deals described above were part of a whopping $8 billion in shale deals completed in the first two weeks of the year. Competition between Chinese, French, and Japanese energy explorers for acreage has pushed prices for shale projects almost to the peak set in 2008 before the collapse of Lehman Brothers, with recent deals seeing Japanese commodity trader Marubeni Corp. paying $25,000 per acre for a stake in Hunt Oil’s Eagle Ford shale property in Texas and Marathon Oil (N.MRO) paying $21,000 an acre for nearby prospects. In the Utica shale of Ohio and Pennsylvania, deal prices have jumped tenfold in five weeks to almost $15,000 an acre. It seems that companies are willing to risk spending too much in order to secure holdings in the world’s largest gas play, rather than be left behind.Iran Could Close Hormuz – But Not for Long (Reuters)This article provides a nice explanation of how Iran could indeed close the Strait of Hormuz, disrupting a fifth of all globally traded oil and sending oil prices skyrocketing, but that such an action would prompt swift retaliation from the United States and others that could leave the Islamic republic militarily and economically crippled. As such, Tehran’s threats to close the Strait are likely to remain hollow, and Iran’s ongoing naval exercises in the region are mostly a diversion from its real goal…Secret Nuclear Test Could Be Iran’s Trump Card in Strait of Hormuz Showdown (National Post)The more significant threat from Iran, at least according to this journalist, would be a nuclear test. Political analyst Peter Goodspeed agrees that a Strait of Hormuz blockade would be short-lived and invite serious retaliation that would leave Iran heavily damaged, and suggests Iran wants nothing to do with such conventional forms of aggression. Instead, he suggests Tehran is doing its all to prepare for a nuclear test, as any demonstration of nuclear capacity would pre-empt conventional attacks against Iran and set the stage for a very different set of diplomatic negotiations.Iran Trumpets Nuclear Ability at a Second Location (New York Times)Iran’s top nuclear official just announced that the country is on the verge of starting production at its second major uranium enrichment facility, reinforcing Tehran’s commitment to pursue its nuclear program despite international condemnation. The new enrichment site creates difficult new choices for the US and its allies in how far to go to limit Iran’s nuclear abilities: It is buried deep underground, is well defended against air strikes, and would be very difficult to disable once in operation. The news does not significantly affect estimates of how long it would take for Iran to produce a nuclear weapon, as it would still take six months to a year to enrich enough uranium for a weapon, and the new site is inspected regularly by the United Nations.EU Agrees to Embargo on Iranian Crude (Reuters)In early January Europe’s governments agreed in principle to ban imports of Iranian oil, days after President Obama signed into law several tough new sanctions that give the US the ability to severely limit Iran’s ability to buy and sell oil. EU diplomats reported unanimity on the concept of an Iranian oil embargo, though the details are not finalized. EU countries buy about 450,000 barrels per day (bpd) of Iran’s 2.6 million bpd in exports, making the bloc the second-largest market for Iranian crude after China.Venezuela Will Not Recognize World Bank Ruling in Exxon Case (Reuters)In our December Casey Energy Report, which gave our forecasts for 2012, we labeled this the “Decade of Nationalization.” In short, we foresee a major pinch arising as oil production declines in many countries just as their need for more oil, both domestically and for export, increases. One way countries will solve this problem will be by nationalizing assets. Venezuela is a trailblazer in the modern resource nationalization movement, and this article leaves no question as to President Hugo Chavez’s intentions: He believes Venezuela’s resources belong to Venezuelans, regardless of whether foreign companies spent billions finding and developing the assets. In this specific story, Exxon has taken Venezuela to the World Bank’s International Center for Settlement of Investment Disputes (ICSID), seeking as much as $12 billion in compensation after Chavez nationalized the Cerro Negro oil project in 2007. Chavez says he will not recognize any decision by the ICSID, calls Exxon “immoral,” and says his country will not bow to imperialism and its tentacles. Many are following the Cerro Negro case closely, as the decision there is expected to set a precedent for future disputes between companies and producing states.Big Statoil Arctic Find Boosts Norway’s Oil Future (Financial Post)Norwegian oil firm Statoil announced a second big oil discovery in the Barents Sea in less than a year and predicted more to come in the region. It is the latest in a series of discoveries in Norway and another move in an accelerating race to find and develop energy reserves in the Arctic. The new oil find, named Havis, could hold 200 to 300 million barrels of recoverable oil equivalent. Combined with reserves from the nearby Skrugard field, discovered in April, Statoil now has 400 to 600 million barrels in the area. Finding oil in the Barents Sea has proven notoriously difficult, but Statoil’s continued efforts highlight the global need to search for oil in more challenging areas, because the “easy” oil is being tapped out.
In This Issue. * Currency & metals rally but in a tight range. * NZ Unemployment Rate drops to 6.2%! * Australia’s Trade Deficit shrinks. * That’s 5 Fed Heads wanting to extend stimulus. And, Now, Today’s Pfennig For Your Thoughts! Another Fed Head Has An Epiphany! Good day. And a Wonderful Wednesday to you! I just realized something, that I guess I’ve known for a long time, but just registered it in my mind. I love the smell of blueberries! I opened the package for a Blueberry cereal bar, and there it was! The wonderful blueberry aroma! My mind immediately flashed back to when I was a young boy and would spend weeks of summer on my grandparents farm, and we would be sent out to gather the berries. My grandma had blueberries, blackberries, raspberries and other stuff that she always used in baking. But we would get some of the fresh berries, run the cistern water from the well over them and have ourselves a treat! Sorry to go off on that tangent, but it’s just another example of my stream of thought. Yesterday I left you with the thought that only a few currencies were gaining VS the dollar, and Gold was down $2. But soon after I sent the letter out, the currencies rebounded, along with Gold. Chris called me, (he’s out of town) and wanted to know what was going on, and I told him that the turnaround was interesting in that there wasn’t anything to cause it, the U.S. data wasn’t out yet, and the only thing I saw was data from the UK that showed that the servicing industry had expanded in October. The rest of the day though, the currencies and metals were stuck in the mud. Funny, thing, when I was 18 and traveling around the country with my guitar, my friend, and our drummer, Preston, used to call people my age now, “old sticks in the mud”. And that pretty much describes the currencies yesterday, overnight and into this morning. sticks in the mud. Recall yesterday that I told you the New Zealand dollar / kiwi was the best performing currency overnight as traders were thinking that the labor report that was due to print that afternoon, would be strong, and that usually meant good things for kiwi. Well, it appears that the traders were rewarded for their foresight, as New Zealand’s Labor report was even better than forecast! The consensus going into the report was for a drop in the Unemployment Rate from 6.4% to 6.3%, but in the 3 months ending September 30th, the New Zealand Unemployment Rate actually fell to 6.2%! The Labor report really placed kiwi firmly on the rally tracks, and this morning, the currency is trading at a 6-week high, as everyone and their brother now expects the Reserve Bank of New Zealand (RBNZ) to hike rates early next year. Another component of the report showed that Ordinary Time Private Sector Wages rose 1.6% in the quarter and up 2.6% year-on-year! Can you say “inflation problems are coming?” I knew you could! And maybe, just maybe, because you never know, the RBNZ will hike rates before early next year! Well, since the middle of last week, the euro has been on the slippery slope for a few reasons that we’ve talked about, but the reason that has weighed the most on the euro, has been the drop in inflation in the Eurozone, which brought the rate cut campers out of the woodwork. But as I explained two times already, but will do it again for those that missed class those days. I don’t see the benefits to cutting rates when they are already at all-time lows. And believe it or don’t, the markets are beginning to come around to Chuck’s way of thinking. Now, that would be a story! I can see the headline: Market Comes Around To Chuck’s Way of Thinking. And the reporter would ask the first question. “Now Chuck, what do you think the ECB will do?” OK, if you’re not laughing with me, you’re laughing at me! Stop that! Another currency that was showing a gain yesterday morning, and is pumping out an even larger gain overnight is the Swedish krona. In just a few hours we’ll see the color of the last Riksbank (Central Bank) meeting, and the markets believe they’ll be able to find indications that the Riksbank is ready to hike rates. That thought has the krona hitting on all 8 this morning. Hey! Another U.S. Fed Head had his epiphany about the economy yesterday. San Francisco Fed President, John Williams, fessed up about the economy saying that, “Up until recently, I was thinking we would start seeing more of that self-powered growth in the second half of this year. Unfortunately, that’s not really been happening and we haven’t seen a real pickup. We’re still a long ways from where we want to be.” So. It’s apparent that the economic growth that Williams was looking for has fallen short of his expectations, and now he’s losing faith that the labor markets’ gains will endure without monetary stimulus.. Of course, the 3 Fed Heads we talked about yesterday, and now Williams only had to read the Pfennig many months ago to know that I said they were being over optimistic about the economy, and maybe they would have tempered their exuberance about the economy. And then we wouldn’t have had the Taper Capers, spoil the currency & metals soup. But then, I still think that Big Ben and the Fed Heads (sounds like Frankie Valli and the 4 Seasons!) were simply attempting to let some air out of the stock market bubble that they created with all this stimulus, by talking about Tapering. I’m writing this morning, while listening to Led Zeppelin’s all-time best song. Kashmir. Now that’s a song that needs the volume cranked to 10! Hey. I just saw something on the TV that shocked me. They showed a survey result that shocked me! 34.3% of Americans say they don’t want a job! And apparently, the total of Americans wanting to have a job has been declining since 1980! That’s not a good thing for us Baby Boomers who have either already retired, like 90% of my classmates that attended my 40th H.S. reunion, or starting to prepare to retire. Oh, the things that I see, hear & read about that make my skin crawl! But you know what I’ve finally realized? That while I can write about it, and attempt to get people to think about these things, I can’t change them. I used to have these thoughts that if I wrote about something that was wrong that people would read it, think about it, and do something like call their representative or whatever, and that would eventually change things! Yes, Virginia, there is a Santa Claus. Hey! Down Under in Australia, where they are enjoying spring, their Trade Deficit came in better than expected for September, printing at A$ 284 million, VS A$ 500 million expected. And the August total was revised downward. The Aussie dollar (A$) is back above 95-cents, and looking forward to the latest Employment Report that will print tonight. I would look for an increase in jobs for October, and that should support this latest uptick in the A$. The A$ deserves some lovin’, after taking body blows from the Reserve Bank of Australia (RBA) Gov. Stevens last week and this week. This has my spider sense tingling folks. You don’t think that Stevens knew ahead of time that the data was going to be good this week, and went about verbally assaulting the A$, getting it weaker, ahead of the data? Nah. that would be giving too much credit to a Central Banker, and I’m tough when it comes to grading! In the UK, the pound sterling has really been a roll this week. First it was the strong servicing Index performance, and today it was a strong Industrial Production print that pushed the pound sterling to 1.61. Industrial Production pushed higher to a gain of .9% in September, up from the August negative print of -1.1%… In addition, Home Prices showed their biggest gain (+.7%) in 3 months. The Bank of England (BOE) meets tomorrow, right after these strong economic data prints, but I doubt it will move the BOE to change rates from their near zero level, or change their bond buying program. And that’s why I still don’t think the pound has strong legs to take it from here. If the BOE still believes that near zero rates and bond buying is needed, then they are a country mile away from hiking rates, which I believe will be needed to take the pound higher from here. But that’s just my opinion and I could be wrong! I see where the Chinese decided that two days of gains in their currency the renminbi / yuan, was enough, and they weakened the fixing level overnight. I read a story on the Bloomberg that talked about how the Chinese fear that the Fed will begin to taper in December. Hey! Here’s a Memo to China. Don’t worry about tapering. 4 Fed Heads this week have pretty much put the kyboshes on tapering any time soon, and don’t forget that a 5th Fed Head, Evans, laid out the scenario where tapering would never happen. I was looking at Google+ last night and came across a posting that someone made that reminded me of the slide that Frank and Chuck use in presentations that show men that have painted themselves into corners. This posting had just one person that had painted themselves into a corner, with a caption that read: Before You Start Anything. Learn How To Finish It! And so it goes with the Taper Capers. Gold is up $6 this morning, with Silver, Platinum and Palladium all posting gains too! But when you step back and look at a chart of these metals, you see that they’ve been range trading for what seems like a month of Sundays. I read a story by Gold Enthusiast James Turk yesterday, about how the world had reached a tipping point, as the next catastrophe approaches. While I see that certainly capable of happening, I have to stop and remember that it was Turk that said we would have a Black Swan event this year. Remember that? (I guess we just barely averted one with the default last month, eh? ) I know one thing, that it is far better to make your forecasts without giving time frames for them to happen! The U.S. data cupboard has the Leading Index report for September this morning, and that’s it. the Leading Index report has really shifted upward in recent prints, which surprises me a bit, in that usually this is good forward looking data, but I don’t see anything in the economy that leads me to feel warm and fuzzy about an uptick in the leading index report. Before I head to the Big Finish this morning, I have a funny from Jay Leno. “According to a new study out of Harvard, it is easier for people to be moral in the morning. They say people are more moral at the beginning of the day, but they become more dishonest as the day goes on. So when people say Congress is as dishonest as the day is long, we now have scientific proof.” For What It’s Worth. On the heels of the announcement that the CFTC’s Bart Chilton was stepping down, the U.S. derivatives regulator announced yesterday that they plan to curb market speculation in commodities. Here’s a snippet of the story as it appeared on Reuters. “The Commodity Futures Trading Commission (CFTC) proposal will set caps on the number of contracts that a single trader can hold in energy, metal and agricultural markets, a measure aimed at capping speculation that some blamed for the spike in raw material and food prices prior to the 2008 financial crisis. The redrafted rules sought to answer some of the deficits that a judge pointed out last year. The agency cited two of the biggest cases of market manipulation in history – the Hunt Brothers’ silver corner and hedge fund Amaranth natural gas bet – as evidence of why curbs were necessary. The new rules will also make it easier for big banks such as Goldman Sachs Group Inc and Barclays PLC to remain in the market by allowing them to exclude positions held by entities in which the banks own minority stakes – a key trigger for the banks to sue the agency.” Chuck again. Well, that’s all fine and good, but I doubt it gets past the Bullion Banks that have the large short positions. They’ll take it to court once again, and once again a judge will shoot the CFTC’s regulation down. That’s because as I’ve told you over and over again, this dance is gonna be a drag, no wait! What I’ve told you over and over again is that in my opinion, which was formed by the Wikileaks Cable, the Gov’t is behind all this. And therefore, there will be no regulation that takes away the ability of the Big Bullion Banks to hold short positions in metals that are larger than the size of the market! To recap. The mixed bag of results early yesterday morning for the currencies and metals turned around mid-morning, and gains were eked out VS the dollar on the day, but in the end, these asset classes are stuck in the mud, trading ranges. The BOE & ECB will meet tomorrow, and strong recent data from the UK, has pound sterling rising, but without a rate hike, and there will be none any time soon, the pound has no strong legs to stand on. New Zealand Unemployment Rate drops more than expected, and kiwi is the best performer overnight. Currencies today 11/6/13. American Style: A$ .9525, kiwi .8405, C$ .9570, euro 1.3515, sterling 1.61, Swiss $1.0970, . European Style: rand 10.2110, krone 5.9645, SEK 6.5075, forint 219.70, zloty 3.0845, koruna 19.0825, RUB 32.37, yen 98.65, sing 1.2425, HKD 7.7515, INR 62.40, China 6.1475, pesos 13.13, BRL 2.2835, Dollar Index 80.53, Oil $94.08, 10-year 2.65%, Silver $21.95, Platinum $1,463.68, Palladium $758.58, and Gold. $1,318.34 That’s it for today. A good shootout win for our Blues in Montreal last night, I went to bed and it was tied 2-2. the Blues are off to a good start to the season. Yadier Molina is a finalist for NL MVP, even if he doesn’t win, and he should, but has the “sentiment vote for the Pittsburgh Pirates player” going against him, that’s a great accomplishment for him! Two other Cardinals are finalists, Wainwright for Cy Young, and Miller for Rookie of the year. But I doubt any of them get the final vote. But again that doesn’t take away from their great seasons! Jessie Colin Young and the Youngbloods are singing their 60’s anthem, Let’s Get Together on the IPod right now. That’s a song we used to play! The swimming season begins to wind down tonight for Alex, with the Conference prelims. Hey! What Day is it? Mike, Mike, Mike, what day is it? Come on, you know. It’s HUMP DAY! Ok, let’s go have a Wonderful Wednesday and Hump Day! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837
As I write this paragraph, the London open is about 40 minutes away. The prices of all four precious metals aren’t doing much. Gold volume is even lower than it was this time yesterday—but silver volume is much higher than it was yesterday at this time, but still very much on the lighter side. And, not that it matters, but the dollar index is up a half-dozen basis points.There’s not much to add to today’s column, as just about everything worth saying showed up in The Wrap sections of my Tuesday and Wednesday missives—and I’m not happy when I keep repeating myself every day, which is easy to do when there’s not much going on.And as I hit the ‘send’ button on today’s effort at 5:05 a.m. EDT, I see that all four precious metals have rallied above their respective closes in New York yesterday—and it’s obvious that the rally in gold is running into resistance, as the open interest is now more than double what it was 40 minutes before the London open—and even though the rally was only about five bucks, that was obviously too much for ‘da boyz’. Silver volume is getting up there as well, but it’s still very much on the lighter side, all things considered. The dollar index is flat.So far, everything is unfolding like it normally does this time of day, as any rally in gold and silver that begins shortly before [or at] the London open, is dealt with before the London a.m. gold fix—and then the rest is left up to JPMorgan et al in New York when the Comex opens. It remains to be seen if this pattern repeats itself again today.I hope your Thursday goes well, or went well if you live west of the International Date Line—and I’ll see you here tomorrow. Here are two more photographs from my Sunday outing—and both were taken in the same park and from exactly the same spot as the gulls I posted yesterday. The difference is that these juvenile Black-crowned night herons were over well over 100 metres away across a pond and on an island—and despite using a big telephoto lens, I had to crop the heck of these two photos to get the birds up to this size. Because of the distance and the cropping, they both fall into what I consider minimum acceptable picture quality, at least for me. The price management scheme in gold is now so obvious, that it’s no longer debatable.Gold did very little in Far East trading and the first half of the London trading day on Wednesday. The rally at the Comex open wasn’t allowed to get far—and was sold back down to unchanged by noon in New York. It rallied a few dollars going into the 1:30 p.m. Comex close—and then chopped sideways into the 5:15 p.m. close of electronic trading.The low and high aren’t worth the effort to look up.Gold finished the Wednesday session at $1,312.20 spot, up $3.70 from Tuesday’s close. Volume, net of August and September, was pretty light at only 104,000 contracts.The silver price followed more or less the same price path as gold, expect the rally at the Comex open got sold down harder—and silver made a new low for this move down—and that low was printed about 11:50 a.m. EDT. The price rallied a bit going into the Comex close—and the didn’t do much after that.The high and low ticks were recorded by the CME Group as $20.085 and $19.705 in the September contract.Silver closed at $19.81 spot, down 10.5 cents from Tuesday’s close. Net volume was 33,000 contracts.Platinum didn’t do much of anything in early Far East trading, but developed a positive price bias beginning around 2 p.m. Hong Kong time. It was up a whole six bucks on the day by shortly before 11 a.m. EDT—and then a thoughtful soul sold it down about a percent, with the low coming minutes before noon in New York. From there it rallied back to almost unchanged—and down a buck on the day.The price action in palladium was similar, but both the corresponding rally—and subsequent sell-off, were much less pronounced. Palladium manged to finish up a buck.It was another day where all four precious metals were rallying—and then all got sold off during the New York trading session.The dollar index closed on Tuesday at 81.51—and didn’t do much of anything until shortly after 2 p.m. Hong Kong time. Then it rallied to its 81.65 high before it had a 25 basis point down/up move between the 8:20 a.m. Comex open and 11:40 a.m. EDT. After that the index slid a small handful of basis points into the close, finishing at 81.61—up 10 basis points.The gold stocks chopped and flopped either side of unchanged yesterday—and finished the day that way, as the HUI closed down a miniscule 0.05%.The silver equities barely got a sniff of positive territory on Wednesday—and headed lower almost immediately. The low of the day came at the low for silver, about 11:50 a.m. EDT. From there they cut their loses by a bit, as Nick Laird’s Intraday Silver Sentiment Index closed down 0.87%.The CME Daily Delivery Report showed that 6 gold and zero silver contracts were posted for delivery within the Comex-approved depositories on Friday. Nothing to see here.The CME’s Preliminary Report for the Wednesday trading session showed that August open interest in gold declined by 117 contracts—and is now down to 1,167 contracts—so we await the final resolution on this as the month starts to wind down.There was a tiny 8,420 troy ounce withdrawal from GLD yesterday, which was probably a fee payment of some kind—and as of 9:18 p.m. EDT yesterday evening, there were no reported changes in SLV.There was a sales report from the U.S. Mint again yesterday. They sold 500 troy ounces of gold eagles—500 one-ounce 24K gold buffaloes—225,000 silver eagles—and another 200 platinum eagles.There wasn’t a creature stirring in the gold departments of the Comex-approved depositories on Tuesday. However, it was another big day for silver, as 600,769 troy ounces were reported received—and 693,508 troy ounces were shipped out the door. All of the activity was at the CNT Depository—and Brink’s, Inc. The link to that action is here.I have a very decent number of stories again today—and there should be some in here that interest you.For those with an interest in silver, I believe that a remarkably large percentage, certainly a majority, believes that silver is manipulated in price. They might not be able to articulate all the nuances of the manipulation, but they have a strong sense that there is an artificiality to silver pricing. I base this on what’s said and written on the Internet, of course, not in the main stream media, which continues to treat the topic of manipulation as something to be avoided at all costs. I believe this is the case because the biggest advertisers and commercial supporters of the main stream media tend to be the very financial institutions perpetrating the manipulation.Nowadays, it’s actually more unusual when someone strongly denies the existence of a silver manipulation, particularly if the denier is well known. Invariably, the denial brings an outcry of disagreement to the point of mockery. Not for a minute have I ever concluded that silver is manipulated or not by the weight of popular opinion; for me, the manipulation is quite easily proven by the verifiable facts. My point is simply that more who are interested in silver believe it is manipulated in price, than not.That might not seem like an earth-shaking revelation, but in reality it is very much so from what things once were. A quarter-century ago, very few, if any, believed silver was manipulated in price. I know this to be the case because I lived through it. For better or worse, the idea of a silver manipulation originated with me. I point this out, not to pat myself on the back, but strictly to demonstrate the difference between then and now in popular perceptions. In fact, I think you would be shocked at the degree of resistance that existed to the idea that silver was manipulated back then. – Silver analyst Ted Butler: 13 August 2014It was another day when not much happened during the Wednesday trading session. It was also another day that the rallies in all four precious metals, such as they were, got sold down during the New York session once again.Here are the 6-month charts for both gold and silver—and nothing much has changed.
As nearly 7.5 million Americans contend with covering the skyrocketing costs of insulin to manage the disease, diabetics in Colorado will soon have some relief. A new law, signed by Gov. Jared Polis earlier this week, caps co-payments of the lifesaving medication at $100 a month for insured patients, regardless of the supply they require. Insurance companies will have to absorb the balance. The law also directs the state’s attorney general to launch an investigation into how prescription insulin prices are set throughout the state and make recommendations to the legislature. Colorado is the first state to enact such sweeping legislation aiming to shield patients from dramatic insulin price increases. “One in four type 1 diabetics have reported insulin underuse due to the high cost of insulin … [t]herefore, it is important to enact policies to reduce the costs for Coloradans with diabetes to obtain life-saving and life-sustaining insulin,” the law states. The price of the drug in the U.S. has increased exponentially in recent years. Between 2002 and 2013, it tripled, according to 2016 study published in the medical journal JAMA. It found the price of a milliliter of insulin rose from $4.34 in 2002 to $12.92 in 2013. And a March report from the House of Representatives, found “prices continued to climb, nearly doubling between 2012 and 2016.” Dramatic price hikes have left some people with Type 1 and Type 2 diabetes who use insulin to control their blood sugar levels in the unfortunate position of making dangerous compromises. They either forego the medication or they ration their prescribed dose to stretch it until they can afford the next prescription. In some instances, those compromises can lead to tragedy. As NPR reported, an uninsured Minnesota man who couldn’t afford to pay for $1,300 worth of diabetes supplies, died of diabetic ketoacidosis, according to his mother. The man, who was 26, had been rationing his insulin. The move in Colorado comes on the heels of recent commitments by manufacturers to limit the drug’s cost to consumers, which in turn comes on the heels of mounting pressure (and some skewering) from elected officials. Following a U.S. Senate Finance Committee hearing in February and a subcommittee hearing in the House in April, pharmaceutical company leaders have reluctantly admitted they have a role to play in reducing drug prices. Last month Express Scripts, one of the largest pharmacy benefit managers in the country, announced it is launching a “patient assurance program” that will place a $25 per month cap on insulin for patients “no matter what.” In March, insulin manufacturer Eli Lilly said it will soon offer a generic version of Humalog, called Insulin Lispro, at half the cost. That would drop the price of a single vial to $137.35. “These efforts are not enough,” Inmaculada Hernandez of the University of Pittsburgh School of Pharmacy tells NPR, of the latest legislation in Colorado. Hernandez was lead author of a January report in Health Affairs attributing the rising cost of prescription drugs to accumulated yearly price hikes.While the Colorado out-of-pocket caps will likely provide financial relief for diabetes patients, she noted “the costs will kick back to all of the insured population” whose premiums are likely to go up as a result.”Nothing is free,” Hernandez said.”It also doesn’t fix the real issue,” she added, pointing to her own research which found “that prices have increased because there’s not enough competition in the market, demand will always be high and manufacturers leverage that to their advantage.” Copyright 2019 NPR. To see more, visit https://www.npr.org.
[dropcap]I[/dropcap] need some bookshelves made and put up. Also, some basic woodwork done, in the bathroom. (I am too lazy and uncoordinated to perform such tasks).Margaret, my PA, has called 13 operators. One answered the phone, to say that he was on holiday. The other 12, did not return her call. Does anyone know a decent carpenter, out there, who can do the job?I HOPE THESE ARENT THE SAME ENGLISH WHITEYS WHO MOAN THEY DONT HAVE ANY MONEY.In other news:Woodlands Restaurant, 77 Marylebone Lane, W1U 2PS. WEB SITE What?! Me, going to a vegetarian restaurant?! Yes, I thought I’d give it a go, having heard positive reports. Excellent service. A good menu, with stuff that ignorant heathens, will like too. The Tandoori Platter, of mixed vegetables, was pretty good. And the NAP of the night, was the ‘Bathura’; a very tasty, type of sticky naan-bread. Sadly though, I had a feeling, that everything would be uber-spicy, and deliberately tried to order the mildest looking things on the menu, and asked them three times to temper it a bit, but the food that came out, completely removed my nut. £75 for 2. Worth a go, for the novelty, but not somewhere I’d return. 5.5Over and out, B x
Add to Queue No Longer the Apple of the FB-Eye — Start Up Your Day Roundup Start Up Your Day Next Article Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Looking for the latest headlines in small business, innovation and tech? Our Start Up Your Day recaps are posted every morning to keep you current.1. No longer the Apple of the FB-EyeApple’s Tim Cook is refusing to comply with a court order to help the FBI break into the iPhone of one of the San Bernardino shooters. Apple’s tech buddies, Facebook and Twitter have declared, “I’ve got your back, Apple.”Facebook issued this statement to USA Today: “We condemn terrorism and have total solidarity with victims of terror. Those who seek to praise, promote, or plan terrorist acts have no place on our services. We also appreciate the difficult and essential work of law enforcement to keep people safe,” the statement reads. “When we receive lawful requests from these authorities we comply. However, we will continue to fight aggressively against requirements for companies to weaken the security of their systems. These demands would create a chilling precedent and obstruct companies’ efforts to secure their products.”2. Obama and CubaPresident Obama announced via tweet on February 19 that he’s going to Cuba in March:Next month, I’ll travel to Cuba to advance our progress and efforts that can improve the lives of the Cuban people.— President Obama (@POTUS) February 18, 2016This will be the first time in 80 years a sitting president has visited Cuba, and the trip is part of Obama’s overall push to hug it out with the communist country, including opening direct flight travel between the two countries and allowing U.S. businesses to engage with Cuba.In related news, the U.S and Cuba recently sanctioned the first U.S. business since the revolution — a tractor company — to be built on Cuban soil. The business is slated to open in early 2017.3. Trump vs. the Pope“A person who thinks only about building walls, wherever they may be, and not building bridges, is not Christian,” said Pope Francis about Donald Trump’s immigration policy on wall-building and such on a return trip from Mexico, igniting a verbal smackdown from Trump who was in South Carolina rallying support before the primary.In turn, Trump called the Pope’s words “disgraceful” and added something to the effect of when ISIS comes raging on the Vatican’s door, “the pope would only wish and have prayed that Donald Trump would have been elected president.”This could be Trump’s way of saying he doesn’t need the Pope’s approval to win the Feb. 20 primary.4. Shake Shack on Delta”If someone had told me a few years ago that we’d be serving our food on an airline, I would have said over my dead body,” said Shake Shack CEO Danny Meyer to the New York Times.Airplane food isn’t exactly known for its enticing qualities, but the New York Times reported that Meyer — who runs Union Square Hospitality Group which owns Blue Smoke, Gramercy Tavern and Union Square Cafe — has teamed up with Delta Airlines to up the game of international airline food starting March 1.Now fliers of of all international first-class flights out of JFK can enjoy some foodie grub.5. Sports Illustrated swimsuit issueIt’s on newsstands. Yep.Check the site for our roundup of the most entrepreneurial models to emerge from the pages of Sports Illustrated. –shares February 19, 2016 Enroll Now for $5 4 min read Image credit: TungCheung | Shutterstock.com Carolyn Sun Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful.