Nigeria, Africa’s largest economy, is on the verge of total shutdown due to a widespread and worsening scarcity of petroleum products. The scarcity, a result of strikes by fuel marketers and transporters, has intensified in the last two weeks as black market prices across the country have skyrocketed past the government-approved N87 ($0.44) per litre price.
Libya's foreign minister warned Sunday that a coalition of extremist groups is making a push to seize the troubled country's oil resources, after an assault on eastern terminals set storage tanks ablaze, destroying 800,000 barrels of crude.
A missile hit an oil storage tank last week at the port of Es Sider during fighting between forces allied to Libya's two competing governments, resulting in the destruction of more than two days' worth of the country's oil production, officials said on Sunday.
The Middle East pays for its civilian consumption and warring with sales of oil, and some gas and petrochemicals; as the cost of the conflict escalates the sales must increase. Saudi Arabia, the biggest spender in the region, is now spending $80-$90 billion per year supporting its military and its allies’ war effort, up from $18-$20 billion in 2002. It has no means to pay for the wars besides selling more and more oil at lower and lower prices. Saudi Arabia does not have the option of not fighting the wars. If its princes picked that option its own fanatics, or outside fanatics, would seize power and use the princes' assets and oil to advance their own war agenda. Iran has big aspirations to become a military player too. Like Saudi Arabia it produces little of value besides oil and gas. The entire Middle East is faced with severe over population and to feed its people and sustain its elites in their palaces it is forced to sell more oil to meet those needs. Oil and gas production produces barely any new technology too, and almost nothing of relevance outside those industries. It produces very little employment either, so the elites have plenty of surplus population to sustain with more oil sales. By exchanging oil for goods from abroad the region becomes steadily more dependent on the rest of the world to supply it, and steadily more backward relative to the rest of the world, particularly relative to the most scientifically and technologically advanced countries where it buys the most essential items of war-craft, luxury cars, watches, perfumes, private jets, and imported processed food. For cultural reasons Middle Easterners prefer war to peace and now that they are all at war against each other there is no end in sight to the conflicts; they are ideologically self-sustaining. The effort to expunge the oil industry from the planet with new technology will continue to reduce oil demand and force the Middle East to produce even more oil at lower prices.
Icahn increased his firm’s equity holding in Chesapeake Energy Corporation (NYSE:CHK) to 73.05 million shares valued at $1.03 billion, an increase of 6.60 million shares during the first quarter. Shares of Chesapeake Energy Corporation (NYSE:CHK) have been tough to hold so far in 2015. Even though the price of crude oil has rebounded some 25%, Chesapeake Energy Corporation (NYSE:CHK)’s shares are still down over 22% year-to-date. Icahn initiated his activist position in the company at the beginning of 2012 and become successful by not only taking control over the board but also eliminating founder and CEO Aubrey McClendon. Mason Hawkins’ Southeastern Asset Management holds shares of Chesapeake, as does William B. Gray’s Orbis Investment Management
Since you so strongly believe in extra-terrestrial life, please go back to your former being; you can return when they give you a brain.
The Axel Springer Media Group's N24 News aired the documentary "UFOs in the Third Reich" last fall, which expounded about spaceship technology under development by SS scientists, giving the SS provenance of what crashed in Roswell, New Mexico in 1947.
Proving that SS scientists were building and testing devices in New Mexico in 1946-1947 is easy; the U.S. Army’s press releases from the era prove it. Of course a crude copy of the Vril spaceship could be made in New Mexico and the letters from the original copied precisely in case they imparted some functionality to the devices. However, the copy would have been good for little more than crashing in a place like Roswell not long after takeoff, lacking just about every functional material and system it would have needed. Indeed, the U.S. Army issued a press release on 08.07.1947 stating that its personnel had recovered a "flying disc" at Roswell and eyewitnesses reported many strange letters on the materials. The next day the U.S. Army reported the lie about the “flying disc” being a “weather balloon.” Why the U.S. Army felt compelled to retract its original report is obvious: the SS officers in New Mexico were not answerable to it by July 1947 and could force it to say whatever they wanted about something under their jurisdiction; they obviously preferred to make the U.S. Army call their “flying disc” a “weather balloon.” Prior statements by the U.S. Army were more forthright, explicitly mentioning the work of SS scientists and making jokes about German culture and German complaints about American food and lodging, which was indeed poor, that by design, that is before U.S. Admiral Byrd was defeated by the Vril warships at New Swabia in early 1947 at a known SS rendezvous base (See declassified KGB files: OpHjp/1947). The Vril letters on the spaceship copy at Roswell had become more than Master Race fantasies by then.
If the documentary on SS spaceships helped to crash the oil price, that is for the best.
The appropriations for aerospace R&D and manufacturing allocated by Göring’s Luftwaffe and the 4-Year Plan, that is appropriations for Wunderwaffen, especially including anything to do with the Vril spaceship, diverted resources from items such as panzers, artillery, machine guns, anti-aircraft systems, railroad equipment, and nuclear weapons R&D, all of which were coordinated by the Reich Research Council and in competition with Göring until 1942 and dominated by him after. Göring’s low skill level and inefficiency increased the cost. Items of no use to the army such as navigation computers and scanning electron microscopes had to be developed to make progress copying the Vril aerospace technology, and even so it was impossible to copy or mimic almost all of it. The large expenditures on mines, power plants, metallurgical works, chemical plants, refineries, and factories to supply Wunderwaffen for the Luftwaffe significantly reduced resources for the more mechanised, stronger army needed to defeat the Soviet Union, Germany’s most dangerous enemy. The war was lost by the poorly equipped army and lack of nuclear weapons; resources spent trying to copy Space Age Vril Wunderwaffen contributed to the defeat.
Weapons such as missiles, rockets, and jet aircraft, which were inspired and developed with the aid of Vril devices from the spaceship, were superior items of technology, and something Göring was pleased to credit himself with developing, however they amounted to a very expensive misallocation of resources given the enemies Germany faced and what was needed to defeat them – a stronger army, air defence, and nuclear weapons. It is perhaps understandable that Hitler should have been so enthusiastic about the Vril Wunderwaffen, given that they were real. However, it was not practicable, or even possible, for the Third Reich to replicate most of the Space Age technology, something Hitler could not understand due to his negligible technical & scientific ability.
No. Low 80s or 70s much more likely. Just look at the charts and the fundamentals (long term weak oil and NG prices, the company's inability to replace reserves, the XTO and Russia debacles). Exxon has been a terrible stock for the last 7 years with high oil prices why should it do better with oil down $40-$50 a barrel?
You all may not like it, but everything stated above is fact.
I have been buying for the last 3 weeks. Just bought more today. The price is right!!!!!
Sentiment: Strong Buy
German Scientific & Technological Advances
1. Cameras & Sensors; full body 3-D scanner for monitoring for skin cancer; Magdeburg, 04.05.2015
2. Power & Engineering; high speed, ultra-accurate manufacturing process for low cost steel wind turbine blades; Chemnitz, 04.05.2015
3. Materials Technology; formaldehyde-free, fire-retardant, moisture resistant Wood-Polymer Composites; Braunschweig, 04.05.2015
4. Cameras & Sensors; 1000% increase in radio telescope and satellite accuracy with new amplifier for measuring radio waves from quasars; Freiburg, 04.05.2015
5. Materials Technology; serial manufactured smart stockings with dielectric silicone film elastomer sensors; Würzburg, 05.05.2015
6. Optics & Photonics; laser-based automated serial production of optical fibers; Berlin, 05.05.2015
7. Optics & Photonics; 1500% increase in laser pulse power and superior waveform control with (Yb:YAG) thin-disk lasers; München, 05.05.2015
8. Materials Technology; nanoscale molecular dynamic analysis of fat bloom formation in chocolate; Hamburg, 06.05.2015
9. Power & Engineering; high-efficiency manufacturing of thin film solar cells with molecular inks and inkjet printing; Berlin, 06.05.2015
10. Photon Science; superconducting undulator for higher power synchrotron beamlines; Karlsruhe, 12.05.2015
11. Materials Technology; high quantum efficiency polycrystalline-nanocomposite for hydrogen production; Berlin, 13.05.2015
12. Materials Technology; electric field switched, low-power spinelectronics with ferroic layering; Berlin, 18.05.2015
13. Materials Research; molecular dynamic modeling of rubber tyre friction; Jülich, 19.05.2015
14. Materials Technology; printing electroluminescent layers on 3-D components; Karlsruhe, 20.05.2015
15. Materials Research; characterising the inner structural transformations of complex solids under high pressures; Hamburg, 21.05.2015