China Embraces Fracking in Seismically Active Province- Quakes to Follow?

In my 2008 post, Interpreting the Monetary Base Under the New Monetary Regime, I argued that the massive increase in bank reserves was neither a necessary harbinger of inflation (as people on the right feared) nor a sure sign of a liquidity trap (as people on the left claimed) but rather represented, at least in part, a sensible aspect of the new regime of paying interest on reserves. I wrote: When no interest was paid on reserves banks tried to hold as few as possible.  But during the day the banks needed reserves – of which there were…

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India is betting heavily on nuclear power to meet its surging energy needs. While India currently has six nuclear power plants (NPPs) with 20 reactors generating 4,780 megawatts, seven other reactors are under construction and are expected to generate an additional 5,300 megawatts.  This current rate of nuclear power generation pales into insignificance with New Delhi’s future plans, as on 22 February Power Minister Sushilkumar Shinde told a seminar at the India International Nuclear Symposium, “India plans to have a total installed…

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Oil prices were up more than $1 per barrel by Friday after the IAEA proclaimed that Iran was ramping up its enrichment activity, continuing a rally that began more than a month ago. Lingering concerns over oil-rich Iran is in part the reason for the rally, which makes its way to the pocket books of consumers by way of higher gasoline prices. However, with campaign season in full swing in the United States ahead of the November presidential elections, it’s likely the politicking and speculation are contributing to the energy woes. The U.S.…

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While hydraulic fracturing, more familiarly known as “fracking,” a technique used to liberate shale oil and natural gas deposits, is in many countries coming under increased scrutiny because of environmental concerns, China has decided to embrace the process as a way to develop indigenous energy reserves. According to the BP statistical review of world energy, In 2010 global natural gas consumption increased 7.4 percent, the biggest increase since 1984. On 12 February China’s Ministry of Land and Resources (MLR) Vice…

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Norway holds a resource of 170,000 tonnes of thorium, which amounts to 15% of the world’s total of 1.2 million tonnes. There is far more thorium than that within the earth’s crust all told, averaging 8 ppm compared with around 2.8 ppm for uranium, but the above figures refer to richer ores, most commonly monazite sand which contains up to 12% of thorium. There is some opinion that thorium nuclear power might be a better environmental/energy-strategy for Norway than relying on carbon-capture which many consider to be uneconomic. However,…

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April natural gas continued to consolidate last week, but the weak close could mean another test of the support. Last week, the market sold off sharply after testing downtrending resistance at 2.7250. This has put the market in a position to break into uptrending Gann angle support at 2.6380 or 2.5380. A successful test of these two support angles will mean that buyers are stepping up and that a secondary higher bottom may be forming. If this occurs then all it is going to take is a breakout above 2.7250 to fuel an acceleration to the upside. Of…

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In recent months Mozambique has reared its head as a global power in natural gas, boasting fields that are expected to be larger than those owned by Norway. Italy’s Eni SpA has found 40 trillion cubic feet of natural gas in its Mamba field, and Anadarko Petroleum Corp discovered a 30 trillion cubic feet deposit at its Rovuma site near to Mamba. According to the BP Statistical Review of World Energy Norway contained 72 trillion cubic feet of gas reserves in 2010, Mozambique is expected to surpass that figure. The vast potential in East Africa…

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