Oil Dump Thursday

1a

What is the actual value of the oil, gas and coal fields owned by big energy corporations, which gives them their stock price and allows them to be counted as assets for borrowing purposes?

The real value of those hydrocarbon resources is zero.

Or actually it is much less than zero, since there are likely to be a lot of liability lawsuits and insurance claims for severe environmental and property damage. Coal, oil and gas are now where the cigarette companies were in 1990, on the verge of getting hit with massive penalties. Big Coal and Big Oil are dead men walking.

The only thing that stops the entire world economy, including that of the United States, from collapsing is that investors continue to pretend that what I just said is not true. Because of this pretense, some people will go on making a lot of money with hydrocarbon investments in the short and perhaps even the medium term. Much investment and assignment of value is a matter of confidence.

JUAN COLE

Advertisements

About Den

Always in search of interesting things to post. Armed with knowledge and dangerous with the ladies.
This entry was posted in Uncategorized. Bookmark the permalink.

10 Responses to Oil Dump Thursday

  1. Den says:

    Sunspot 2297 clearly visible on a piece of white paper held 30 feet from a 1/4″ hole in my steel buildings’ wall, 2297 the source of radiation blocking radio signals 15 MHz to 26 MHz. @ SPACEWEATHER.com

    Like

  2. David B. Benson says:

    Con man game.

    Like

  3. David B. Benson says:

    Slight tang of the sea today.

    Like

  4. David B. Benson says:

    Watched two crows grooming each other while a nearby juvenile squirrel was learning to navigate through the branches.

    Like

    • º¿carol says:

      I love seeing things like that. Mother Nature. My Cooper’s Hawk was one of those things. The season is coming where when I’m wandering around the place I stumble on ant wars. I’ll find what looks like a splat of coffee grounds but it will be small, dark brown ants, all shoulder to shoulder. A crowd. I have to surmise it’s two different colonies of the same kind of ant battling. I love when I come across one of those. Wish I could see better what’s going on. I should run for the camera. Blown up on the screen, maybe I could see if it’s a war, or just a family reunion.

      Like

  5. David B. Benson says:

    Even Pullman has a medevac helicopter base.

    Like

  6. º¿carol says:

    Went to Lowe’s today to look at bathtubs, toilets and sinks. Now we have a better idea of what we want, a little more research and we’ll get the project started. A new toilet will be so exciting! Our 36 year old one is impossible to clean. The finish inside has worn off quite a bit. I like a clean house, a new toilet, WOO HOO!!! Clean it as normal and it will look GREAT!

    New bathtub. We didn’t have time to look at tile for the wall but we may have found the tub and the toilet at Lowe’s. I should just keep my old sink. It doesn’t look bad at all. Why get a new one. I only have room for a small one, most of them at Lowe’s were 30″ wide. The norm. I can find my size, but maybe I shouldn’t bother. Maybe just get a new faucet-thingy.

    Like

  7. º¿carol says:

    I’m here really late. Chewed up my day at Lowe’s THEN BOB & I ATE AT A RESTAURANT! A rib place called “Famous Dave’s.” It was good, I’d go back. Got home and watched a movie. Went outside around 9:30 and stayed out there for about an hour. And here I am!

    Now I better go read my two news papers and work on a project. Cards. Three birthdays this month, one is my Bob. Have to finish the cards the clock it ticking.

    Like

  8. Den says:

    Organizing here, burger night was delayed due to late workers across the way, then I moved out the grill and gas bottle, got it going and feasted with onion rings in the toaster oven, yup livin large.

    With the FF post on deck for tomorrow, I better hit the hay, I’m tired, nite all!.

    Like

  9. David B. Benson says:

    Choral concert over. Fine.

    Like

Express your views below, politely please.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s