Daily Archives: 16/12/2011

“SHOW ME THE MONEY” …………o.k. (cont)

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Joe Romm @ :Think Climate/Climate Progress is a font of information and turns up extrememly reliable information. So when you see an article which proves the lie to “credit freeze”, “recession” etc, it needs to be circulated.

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ONLY A FEW WEEKS AGO FATIH BIRROL FROM THE I.E.A. STATED THAT FOR FUEL SECURITY UNTIL 2035 INVESTMENT “IN OIL” WOULD NEED REACH          $38 TRILLION !!!!!! The money’s out there ……. in TAX HAVENS, FINANCIAL SECTOR BONUSES, UNREGULATED INTERNATIONAL TRANSPORT, AND, MORE DAMAGING, TAR SANDS DEVELOPMENT AND FOSSIL FUEL SUBSIDIES

For years, the oil industry has promoted itself as getting cleaner  and investing in alternatives to oil. But when it comes to  transportation fuels – still their main business – are  oil companies  truly going green and investing in cleaner alternatives to oil?

NRDC to Oil Companies: “Actually, We Don’t Agree”

Based on our research of the overall industry, our conclusions is a  resounding “NO”.  The oil industry as a whole has spent at least fifty  (50x) times in producing more dirtier fuels sources such as tar sands  than their entire global investments in producing renewable fuels.

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Thanks to Climate Progress.

http://thinkprogress.org/romm/2011/12/15/389803/oil-companies-dirty-fuels-clean-fuels/

Meanwhile, Back at the Ranch (2) …..

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IMF warns that world risks sliding into a 1930s-style slump…….                                     (By the way; “the Ranch” means the biggest economy in the world)

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The world risks sliding into a 1930s-style slump unless countries settle their differences and work together to tackle Europe’s deepening debt crisis, the head of the International Monetary Fund has warned.

The IMF managing director’s call came amid growing concern that 2012 will see Europe slide into a double-dip recession, with knock-on effects for the rest of the global economy. “The world economic outlook at the moment is not particularly rosy. It is quite gloomy,” she said.

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15 DIGITS OF DEBT.

The “ruckus” in question is over this,  $707 trillion, 568 billion, 901 million

the Bank of International Settlements reported a number that quietly slipped through the cracks of the broader media. Which is paradoxical because it is the biggest ever reported in the financial world: the number in question is $707,568,901,000,000 – and represents the latest total amount of all notional Over The Counter (read unregulated) outstanding derivatives reported by the world’s financial institutions to the BIS for its semi-annual OTC derivatives report

http://www.zerohedge.com/news/707568901000000-how-and-why-banks-increased-total-outstanding-derivatives-record-107-trillion-6

Seems like we need some of that “IBANA” that was used in the last session of the Durban COP 17 talks …..

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