Weekly MP Report from Jay Hill

first_imgThis week’s weather report from Kabul, Afghanistan indicates night-time temperatures hovering just above freezing and a condition most Canadians have likely never seen in weather forecasts … “smoke”.  As you enjoy a warm fireplace or central heating, along with the unforgettable scent of roasting turkey, remember our soldiers spending Christmas week sleeping in tents and in sparse conditions, especially those in forward operating bases, or worse, on the move nowhere near a base.Two years ago when I had the very rewarding privilege of serving Christmas dinner to Canadian troops in Afghanistan, I saw those rugged conditions first-hand.  I knew that those soldiers were missing even the most chaotic and routine Christmas moments with their loved ones and friends.Yet they never complained.  In fact, their firm belief in their mission and keen desire to help the people of Afghanistan was the most awe-inspiring manifestation of Christmas spirit I have ever witnessed.  Advertisement MP Report by Jay Hill, M.P.The True Meaning of Christmas From Our Soldiers in a Foreign Land   As Christmas Day 2008 approaches many of us are fortunate to look forward to the warmth, love and companionship of family and dear friends.  – Advertisement -It’s also a busy time of year, especially for those with young families.  The last minute shopping, the carols, the wrapping, the travelling for some, the baking and cooking, then the boisterous house as excited children and relatives gather together to share in this special celebration.Yet imagine if you couldn’t be here to experience it – any of it.  Imagine what it would be like to be missing this because you were in the middle of a war-torn country braving the enemy and the elements at Christmas.This Christmas I ask that you please give a thought, and give thanks, for the Canadian soldiers who are currently serving our nation in Afghanistan.Advertisement Try as I might, I cannot hold a candle to the eloquent and moving words of gratitude that average Canadians have taken the time to convey to our troops in recent days.  On a special Internet message board, hundreds of individuals and families have sent messages to Canadian troops overseas.One posting reads:  “I think of you and hope your hearts have some Christmas joy in a strange land and different climate.  You are a great gift to the future of all the Afghanistan children.  Maybe they can sleep in heavenly peace. Know that your gift is acknowledged and more than any of us here could give to our children.”Another post reads:  “Our prayers are with you always but especially during this Christmas season. We thank you for your protection of our way of life.”This is just a sampling of many touching messages you can find by linking to “Write to Our Troops” at www.forces.gc.ca .  If you want to enrich your family’s spirit of Christmas as you gather this holiday season, I encourage you to review these postings together and perhaps post one of your own.  It will be one of the greatest gifts you’ll give and receive this Christmas!On behalf of my family and staff, Merry Christmas to you and yours!    Advertisementlast_img read more

Racial Evolution Education Proposed

first_imgSkin color provides a “handy tool for teaching evolution,” says a anthropologist at Penn State.  PhysOrg reported that professor Nina Jablonski believes “The mechanism of evolution can be completely understood from skin color.”  She proposes using the easily-observed trait in humans to teach evolution to students.  “People are really socially aware of skin color, intensely self-conscious about it,” she told the American Association for the Advancement of Science.  “The nice thing about skin color is that we can teach the principles of evolution using an example on our own bodies and relieve a lot of social stress about personal skin color at the same time.”  PhysOrg did not elaborate on how evolutionary theory would relieve stress about skin color.It is typical of Darwinists to try to prove their theory with simple examples of horizontal variation that are not controversial, then extrapolate the examples to say brains evolved from a primordial soup.  Perhaps professor Jablonski should take note of the fact that young-earth creationist Ken Ham uses Scripture and science to explain the human races (actually, just variations on the single human race) from a Biblical viewpoint (see AiG), and also shows the disastrous history of racial politics in of Darwinian thought (AiG).(Visited 7 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Forever Young 3X-Long Platinum Blonde Number 613 Ladies Wig – Renact yout inner Timotei

first_img Wife now has gorgeous hair . Looks amazing, brushes well, fits perfectly very happy with this procuct. Ok for the price, needed for fancy dress. Features of Forever Young 3X-Long Platinum Blonde Number 613 Ladies Wig without FringeStunning extra long fringe-less style in a single tone of dark brownMade of premier Kanekalon synthetic hairSo smooth, silky and soft it feels and move like real human hairSuits most face shapesGreat for everyday wear or special occasions Plus to that it tangles like crazy, i own a few wigs and this. There are some problems with elastic band hooks, they don’t really hold in place. Plus to that it tangles like crazy, i own a few wigs and this has never happened before that fast. Plus to that it tangles like crazy, i own a few wigs and this. There are some problems with elastic band hooks, they don’t really hold in place. Plus to that it tangles like crazy, i own a few wigs and this has never happened before that fast. Wife now has gorgeous hair . Looks amazing, brushes well, fits perfectly very happy with this procuct. Ok for the price, needed for fancy dress. Bought to use for a fancy dress outfit as elsawould recommend to others. Posted on December 14, 2017Author Nathalie DuboisCategories Hair PinsTags Forever Young Bought to use for a fancy dress outfit as elsawould recommend to others. Lovely blonde colour, yes it tangles like all long wigs do, but it swishes and flips well, makes you feel like the timotei girl. Lovely blonde colour, yes it tangles like all long wigs do, but it swishes and flips well, makes you feel like the timotei girl. Wife now has gorgeous hair !!!!!Renact yout inner Timoteiplus to that it tangles like crazy, i own a few wigs and this center_img SummaryReviewer Nathalie DuboisReview Date2017-12-14 07:46:00Reviewed Item Forever Young 3X-Long Platinum Blonde Number 613 Ladies Wig without FringeRating 3.0 / 5  stars, based on  6  reviewslast_img read more

Back To School: Tech For High School

first_imgIn general, if you have have a family desktop PC, a tablet can supplement that well. In fact, iPads seem to be all the rage in secondary schools these days. That may make Apple’s tablet look like the obvious choice, and if there’s a hardware mandate, then it clearly is. But if cost matters, consider an Android tablet. Options like the stylus-enabled Samsung Galaxy Note 8 and Google’s Nexus 7 have lower price tags, deliver excellent screen resolution and offer plenty of educational apps. For eBooks and streaming or Web browsing, an Amazon Kindle Fire HD is a bargain option. If your student lacks a full-fledged computer, a laptop is the savvy choice for the portability. For seniors, invest in an ultrabook like a Macbook Air or Lenovo IdeaPad Yoga 13. Although they’re more expensive, these are lightweight devices that he or she can take to college—and schlep between dorms and numerous far-flung university classes—next year. Juniors and younger students, for whom the load may not matter as much, less expensive offerings like the Dell Latitude 3330 will work well. This model features a fine-tuned touchpad and curved keyboard, but goes for roughly half the price of an advanced ultrabook. As for smartphones, they may seem like a social tool more than a study aid, but consider this: A high schooler’s academic success can also hinge on peer communication. Not only can they look up important class info or research at will, but smartphones also help them stay organized on the fly and connect easily with tutors, research buddies and study groups. Some kids may need parental guidance or oversight, but this could be an educational opportunity. After all, learning how to manage technology use during these formative years could be an important life lesson.At this point, Android and iOS—the two dominant platforms—have both developed into mature eco-systems with robust app stores. So the handset or even platform choice may not matter as much as the calling, texting or data plans that go with them. The best option: For heavy texters or data users, you’ll want unlimited plans. Or, for an affordable option, consider a phone on a prepaid plan. Your teen could even take partial or full responsibility for funding it. Smart Apps For Smart StudentsWhen it comes to hardware, there are plenty of deals this time of year. To go along with them, there are plenty of apps that can help that student graduate to academic rock star. Flash Cards: Flashcards by Brainscape (iOS) and AnkiDroid Flashcards (Android) let students easily quiz themselves on a variety of topic and course material. Calculator: PocketCAS Lite (iOS) and Graphing Calculator (Android) offer calculator for advanced mathematics classes. Homework Planner: Studious (iOS and Android) organizes big exams, homework and project deadlines. The app offers alerts for events, and when classes are in session, even silences the phone.Study guide: Some kids may use SparkNotes (iOS and Android) summaries so they can skip reading assignments, but they also provide very handy study guides for class material. The developer also offers SparkNotes Test Prep for SAT and ACT.Biology: Frog dissection is a quintessential experience for high school biology classes. With the Froguts app (iOS and Android) virtual frog dissection, students can benefit from interactive 3-D anatomical simulations, audio and text cues that boost comprehension.Although schools with splashy tech-forward programs get headlines these days, the truth is, plenty of high schools still depend on traditional textbook education. But even in these environments, consumer technology offers teenagers an advantage, one that extends beyond academics.Call it a glimpse of the future, but society will only become more connected as time goes on. Familiarizing today’s students with the technologies they might advance in the future can help prepare them for the real world. And, in turn, it gives the world its best chance at welcoming its future visionaries. Lead image courtesy of Shutterstock. Table image courtesy Allison Hare cc. adriana lee This is a post in Back To School, an ongoing series where ReadWrite covers technology trends in education for parents and educators.Never before have teens been so tech-driven, and educators desperate to connect with them have noticed. What’s more, they’re responding. Creative learning formats and tablet-based curricula have been picking up steam in high schools across the country.The challenge for parents, particularly those who have struggled to balance the kids’ tech usage at home, is equipping them with the right tools for school. So now, as the fall semester gets underway, let’s take a look at what high school students need to succeed in this changing educational landscape.High Schools Are Growing UpLast month, the Federal Communications Commission voted to make changes to a funding program, granting $2.3 billion so schools and libraries can update telecommunications and equipment. It will take time before that takes shape, but it’s a sign that yesterday’s schools are gearing up for today’s technologies. In fact, the whole notion of “classroom” is undergoing a metamorphosis. One educational tech trend taking hold is the flipped classroom, where pupils stream multimedia lectures at home and do what used to be “homework” in school among tutors and peers.One of the most well-known programs comes from the Google-backed Khan Academy, a non-profit educational site that offers online learning via streaming videos. The academy, which started with a pilot project in Los Altos, Calif., now extends to more than 30,000 classrooms all over the globe. Another major movement revolves around iPads. Tablet-based learning may not be ubiquitous yet, but they have been attracting attention among an increasing number of teachers and administrators, and last year, tablets trumped laptops among high school students. Meanwhile, in places like Las Vegas’ Clark County and other school districts, BYOD (“bring your own device”) strategies gain popularity. Of course, not all schools have tech initiatives, but for those that do, mere backpacks, notebooks and pencils won’t cut it. And even for those that don’t, there are still some key tools that can give teens a leg up in class. The Lowdown On Tech for High SchoolClasses, schools and school districts vary. Some schools focus on laptops, while others require tablets. It’s important to find out if there are any hardware requirements before making any purchasing decisions.  A Web Developer’s New Best Friend is the AI Wai… Tags:#Back To School#education#laptops#mobile#tablet Related Posts Top Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Marketlast_img read more

Pumaren calls officiating in La Salle win the ‘worst’

first_imgLATEST STORIES Read Next Japan ex-PM Nakasone who boosted ties with US dies at 101 “La Salle is already a strong team and this happens.”Pumaren, who actually served as La Salle’s head coach from 1998 to 2009 and served as a Green Archer in the 1980s, added that even other La Salle alumni weren’t happy with the way the game was won.“My fellow friends from La Salle, they weren’t even proud of it,” said Pumaren. “Even some of the UAAP coaches are texting me now, saying that this is a sad day for the UAAP. I won’t mention who these guys are but two are from Final Four contenders and two more coaches said that this was a sad day.”ADVERTISEMENT CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Kammuri turning to super typhoon less likely but possible — Pagasa MOST READ Don’t miss out on the latest news and information. Maverick Ahanmisi lashes out at refs after bro Jerrick, Adamson lose to La Salle Kris Aquino ‘pretty chill about becoming irrelevant’center_img Stronger peso trims PH debt value to P7.9 trillion QC cops nab robbery gang leader, cohort “You know, stepping out of the [Smart Araneta] Coliseum the La Sallians, even the coaches of Zobel, were embarrassed,” said Pumaren in Filipino Saturday. “When I shook hands with them, their hands were so cold it’s as if they were carrying ice.”Adamson was called with 33 fouls, with one technical foul going to Pumaren, while La Salle were reprimanded 12 times.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutLa Salle also had 39 free throws, making 26, while the Soaring Falcons attempted just five and made two of those charities.“It’s so frustrating… we worked hard for this, we prepared for it,” said Pumaren. “I don’t think I was outcoached, I don’t think we got outplayed. It’s so disappointing.” Typhoon Kammuri accelerates, gains strength en route to PH Brace for potentially devastating typhoon approaching PH – NDRRMC View comments Photo by Tristan Tamayo/INQUIRER.netFranz Pumaren wasn’t about to sugarcoat things when his Adamson University lost to De La Salle, 82-75, in the Final Four of the UAAP Season 80 men’s basketball tournament.Pumaren said the officiating in the game “was the worst” he had experienced in all the 19 years he has coached basketball.ADVERTISEMENT Trending Articles PLAY LIST 00:50Trending Articles01:44Philippines marks anniversary of massacre with calls for justice00:59Sports venues to be ready in time for SEA Games01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Gameslast_img read more

Top Stories

first_img Top Stories What an MLB source said about the D-backs’ trade haul for Greinke Comments   Share   Nevada officials reach out to D-backs on potential relocation That’s how a team overcomes bad field position, a -3 inthe turnover department and an offense that scored apaltry seven points in the first half. The game neverreally got out of hand, which allowed the Cardinals toclimb back in and, ultimately, win.“It’s incredible to know that if you do make a mistake,you make a turnover, its not automatic points,”quarterback John Skelton said.So if you’re wondering how the Cardinals, who had lostfive straight to the 49ers, emerged victorious Sunday,your answer is pretty simple.“You start with the defense, that’s where it reallystarts,” Whisenhunt said. “They held them and made themstruggle, and then we made some plays offensively.” Stop us if you’ve heard this before: the Arizona Cardinalsdefense is playing at an exceptionally high level.The San Francisco 49ers had the ball 14 times Sunday, andthey gained more than 20 yards on a drive five times, andgained a total of 26 yards in the fourth quarter. That’ll do, defense.“The field position was bad in the first half,” head coachKen Whisenhunt said. That’s putting it mildly.center_img D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Cardinals expect improving Murphy to contribute right away The 49ers had drives that began at their 14, Arizona’s 43,their own 33, Arizona’s four, their own 43, they’re own 22and the Arizona 16. The net result was 12 points.In total the 49ers had the ball in the red zone threetimes, and three times they were kept out of the end zone.“I think our defense, the best thing about us is werespond,” defensive end and weekly monster Calais Campbellsaid. “When we get put in tough situations, I feel likeright now what we’re doing is we’re not feeling sorry forourselves, we’re standing up and making plays that we needto.“We’ve got to respond.”The defense has done just that, which is why they aregetting a lion’s share of the credit for the team’sturnaround. The Cardinals have won five of their last sixgames, and have beaten a pair of likely playoff teams intheir last two. They’ve done it with a pass rush that has accounted for 10sacks over the last two games and a run defense that heldthe 49ers to just 90 yards on the ground. The Cardinalsdidn’t force any turnovers, but they were stout. They weregood. They were a safety net.“We just had so many guys make plays,” Whisenhunt said. ErrorOKFree Rate QuoteCall now 623-889-0130 ErrorOKlast_img read more

Magyar Telekom has deployed interactive TV softwar

first_imgMagyar Telekom has deployed interactive TV software provider Zenterio’s TV Operating System on two new set-top boxes that will support both DVR and interactive, multi-room TV services. This deployment allows Magyar Telekom to develop its services for its TV subscribers in Hungary and harmonise its set-top software client environment, according to the company. The independent operating system provides the opportunity to extend deployment and standardize TV offerings across regions.last_img

Liberty Global continues to be one of the most tec

first_imgLiberty Global continues to be one of the most technologically innovative cable operators around, thanks in no small part to the contribution of group chief technology officer Balan Nair. Next year will see the commercial launch of its Horizon set-top/gateway, the fruit of long-term planning stretching back over the last couple of years.Age 45Education BSc Electrical Engineering, Masters of Business AdministrationPrevious positions CTO of AOL; CTO and CIO of Qwest CommunicationsLast year’s highlights We made huge progress in building a strong organisation in our European operations, and are working on some real exiting products for launch early next year.Most significant industry development Software technologies have evolved significantly. The processing power of chips have grown dramatically as well. And the combination, along with price efficiencies, make for impressive product opportunities.Goals for next year Be more operationally efficient. Be able to deliver on committed product launches. Beginning the transition to more web services in our products. Do all of this in while maintaining capital efficiencies.Industry challenges and opportunities We are beginning a new era of competition, where, the distribution pipe, the end devices and the quality of content are going to be key differentiators. This transition is capital intensive, but it is cable’s to lose.Alternative career choice I would love to be a stay at home dad.TV character most identified with I don’t want to insult any TV character or personality by identifying myself with them .Most admired personality I admire the pioneers in the pay TV space and am lucky to work for a couple of them: John Malone in the US and Mike Fries outside the U.S.Life outside work Being a dad, running, skiing, eating and enjoying the company of friends and family.last_img read more

By Marin Katusa Chief Energy Investment Strategis

first_imgBy Marin Katusa, Chief Energy Investment StrategistOne of oil’s most important characteristics is its fungibility, which means that a barrel of refined oil from Texas is equivalent to one from Saudi Arabia or Nigeria or anywhere else in the world. The global oil machine is built upon this premise – tankers take oil wherever it is needed, and one country pays almost the same as the next for this valuable commodity.Well, that’s true aside from two factors that can render this equivalency void. In fact, crude oil prices range a fair bit according to the quality of the crude and the challenge of moving it from wellhead to refinery. Those factors are currently wreaking havoc on oil prices in North America: a range of oil qualities and a raft of infrastructure issues are creating record price differentials. And with no solution in sight, we think those differentials are here to stay.The Parameters of PricingThe first factor in oil pricing is quality. The best kind of crude is light and sweet: “light” means its hydrocarbon molecules average on the small side within the oil range; and “sweet” means it does not contain much sulfur. Light, sweet crudes are the easiest to refine into petroleum products, which makes them more desirable than heavy, sour crudes.No two reservoirs produce identical oil, though reservoirs in the same region often produce similar crudes. For example, conventional oils from Texas are generally lighter and sweeter than the crudes that make up the European benchmark Brent blend; this is why West Texas Intermediate crude oil carried a premium over Brent crude for years. Similarly, Bonny Light oil from Nigeria is a bit heavier and sourer than Algeria’s Saharan Blend and therefore receives a slight price discount.But wait, you say – isn’t Brent more expensive than WTI? Yes, today it is. This graph shows the two prices’ movements over the last 25 years.(Click on image to enlarge)For most of the graph the prices track very closely, with the green WTI line sitting just above the black Brent line. Then, in the second half of 2010, the relationship starts to shift: WTI prices started to lose ground against Brent. The differential was only a dollar in November 2010, but by September 2011 Brent crude was worth US$27.31 or 32% more than WTI. The differential narrowed in December but has recently opened up again, with the spot price of Brent closing US$13.88 above that of WTI yesterday.The characteristics of WTI and Brent crude oils did not change during 2010, so the pricing reversal must have stemmed from the other factor that impacts crude-oil prices: infrastructure. More specifically, WTI prices started to slide because of a lack of infrastructure.North America’s Fantastically Flawed SystemNorth America has a long history of oil production and processing. Decades of producing oil and consuming lots of petroleum products have left the continent with a pretty good system of pipelines and refineries… but pipelines are annoyingly stagnant things that tend to stay where you build them. And it turns out that the pipelines of yesterday are in the wrong places to serve the oil fields and refineries of today.America’s oil infrastructure was built around two inputs – some domestic production and large volumes of imports. You see, while the Middle East may be the biggest producer of crude oil in the world, most of the refining occurs in the United States, Europe, and Asia. There are two reasons for this. The first is that it’s easier to ship massive volumes of one product (crude oil) than smaller volumes of multiple products (gasoline, diesel, jet fuel, and so on). The second reason is that refineries are generally built within the regions they serve, so that each facility can be tailored to produce the right kinds and amounts of petroleum products for its customers.During World War II, the US War Department (now the Department of Defense) divided the United States into five regions to facilitate oil allocation. The regions were called “Petroleum Administration for Defense Districts,” or PADDs.The United States is split into five oil districts to help with regional administration of a crucial asset. Thanks to the US EIA for the map.Today, refineries in PADD I on the East Coast process oil shipped to the district’s Atlantic ports from all over the world. Its refineries produce enough petroleum products to meet about one-third of regional demand; the rest comes from imports of refined products, primarily from the Gulf Coast but also from Europe. PADD V, on the West Coast, processes domestic oil from California and Alaska, as well as imported oil.While the East- and West-Coast PADDs are not connected to the rest of the crude oil system, PADDs II, III, and IV have become very interdependent. PADD III, on the Gulf Coast, has more refining capacity than anywhere in the world and accounts for 45% of total US capacity, with 45 refineries processing more than 8 million barrels of oil per day from countries like Mexico and Venezuela as well as domestic sources. Refineries in the Midwest and California push the US’s total refining capacity to 18 million barrels of oil a day.While domestic production has always helped meet the US’s oil needs, imported oil has long ruled the day. The US has relied on imported oil so heavily for so long that the country’s oil infrastructure is built primarily around refining imported oil and then moving refined products – gasoline and diesel and the like – north, from the Gulf Coast to the Midwest, or inland, from refineries on the coasts to customers in the interior.It was not, it is important to note, designed to move oil from the interior of the country to refineries. But that is what is needed today.Oil’s a-Flowing, But with Nowhere to GoNorth American oil production is on the rise in a serious way, and there are two prime culprits: the Bakken shale and the oil sands.The Bakken shale formation underlying North Dakota gets most of the credit for the resurgence in US domestic output, though some of the shales in Texas are also contributing notably. Production in the Bakken is so booming that North Dakota’s crude output topped half a million barrels a day for the first time in November, up from just 300,000 bpd in 2010. The state is on track to surpass both California (539,000 bpd) and Alaska (555,000 bpd) this year to become the number-two oil-producing state in the United States.Oil from the Bakken is generally mid-weight and fairly sweet. Ideally it should stay in the Midwest, because the refineries around Cushing are still designed to process light sweet oil. However, the other area where North American oil production is booming produces just the opposite. In fact, oil from the Canadian oil sands is so heavy that it has earned a distinct moniker: “bitumen.” And there is a tsunami of bitumen on the way. The two million bpd being produced in the oil sands today is set to increase 50% in just the next three years.However, Canada’s oil sands are not the only place in the world producing heavy oil. In general, global production is gradually moving towards heavier, sourer crudes because the easy deposits of light, sweet crude are being tapped out. And that has forced refineries to evolve.A refinery designed to handle light, sweet WTI crude cannot switch to heavy, sour oil sand bitumen without some serious upgrades. To that end, US refineries have invested billions in upgrades over the last decade to enable them to process heavy oil. The catch is, now the refinery army along the Gulf Coast needs heavy oil – just as they couldn’t easily switch from light to heavy, they can’t switch from heavy back to light.The obvious source is the oil sands. It’s a win-win: Oil-sands producers want to get their oil to suitable refineries, and the heavy oil refiners on the Gulf Coast want Canadian crude, because without access to bitumen they are being forced to pay a premium for to secure heavy oil supplies from Venezuela.But that potential win-win is instead a losing predicament for all, because the pipelines to move that oil simply don’t exist.Remember how the US’s oil pipelines were designed primarily to move refined products from the Gulf region and the coastal refineries to inland customers? Well, those pipelines of yesterday now run the wrong way. Today what North America’s oil machine needs are pipelines running from the oil sands to the Gulf Coast. At the moment there is just enough capacity to get bitumen partway there – it gets to Cushing, the oil hub. And then it gets stuck.This chart tells the story perfectly. The vast majority of Canada’s bitumen is ending up in PADD II – in Cushing – where it simply sits in tanks because there is no heavy oil refining capacity in the Midwest, and there is very limited pipeline capacity to move oil south.Cushing is overwhelmed. The storage tanks at Cushing are at record levels, housing no less than 46.7 million barrels of oil. The recent reversal of the Seaway pipeline is helping – Seaway used to move refined products north from the Gulf Coast but has now been flipped to carry oil south. It is currently moving some 150,000 barrels of oil a day; volumes are expected to rise through the year to reach 400,000 bpd by early 2013. The pipeline’s owners would ideally like to twin the pipe, but regulatory proceedings for that project are not yet under way.The much-debated Keystone XL pipeline will also help. While routing and approval for the northern section of the pipeline are still under debate, construction of the southern leg of the project, running from Cushing to the Gulf Coast, is set to begin this summer. It could be operational before the end of next year.No matter what happens with the Keystone pipeline, the US will face ever-increasing competition for Canada’s oil. In fact, competition over oil from Canada – and around the world – is creating a new Cold War between the US and China.But even with Seaway reversed and Keystone XL’s southern leg in place, the glut of oil at Cushing will continue to grow. Production from the oil sands and the Bakken is simply growing too quickly for infrastructure to keep up. And when oil becomes landlocked, it loses that key characteristic – fungibility – that helps make it so valuable.North American Oil Differentials: Here to StayWith so much supply landlocked, Canadian oil prices are taking a serious hit. The benchmark price for Canadian heavy oil is Western Canada Select (WCS), which is currently trading at just US$59.33 per barrel. By contrast, WTI is priced at US$82.70, which means the differential is a whopping US$23.37 per barrel, or 28% higher.(Click on image to enlarge)Even Canadian synthetic – a partially upgraded bitumen product that has historically carried a premium to WTI – is trading at a discount to its American peer: Canadian synthetic is at US$79.13 per barrel.It’s a double-whammy differential: Canadian oil is heavy, which discounts its price; and the system to move it to suitable refineries is clogged up, creating another discount. Neither of those situations is going to change any time soon, and that means oil-sands projects may soon be on the chopping block.The oil sands is one of the costliest oil regions in the world to develop; and with WCS prices so low, the economics behind many new oil-sands projects have become pretty weak. New oil-sands mines require a price of around US$80 per barrel to break even. If an upgrader is part of the plans, that break-even price rises to almost US$100. In-situ projects, which use wells and underground steam injection to extract oil from the sands in place, usually carry a break-even price near US$60 per barrel.But even with some projects postponed and others slowed, bitumen production is still expected to climb rapidly. Estimates range, but most observers agree that it is likely the oil sands will be producing close to 2.7 million barrels a day by 2016, up from 1.6 million bpd last year.That kind of investment means that every time new pipeline and refining capacity is built, supply will catch up and the system will remain chockablock. And that means the differential between Canadian and US oil prices is settling in for a long stay. There are ways to benefit from this differential, but given the complexity of the situation, only informed investors will be able to take advantage. Additional Links and ReadsIraq and Iran Cuddle Up in OPEC, But for How Long? (Reuters)Historic rivals Iraq and Iran are growing closer in their OPEC policy preferences, specifically in wanting an oil price near US$110 per barrel. Their joint force is providing a counterweight to the more moderate Gulf Arab countries led by Saudi Arabia that have long dominated the cartel. However, relations could again grow strained later in the year when Iraq passes Iran to become OPEC’s second-biggest producer.Lower Oil Prices Will Crimp Industry Spending (Globe and Mail)The oil and gas industry invests no less than a billion dollars in Canada every week and has been doing so steadily since 2006, only taking a breather during the financial crisis in 2009. However, leading indicators suggest that corporate wallets are getting leaner and spending is set to slow down in the second half of this year, falling to the lowest level since 2005. The culprits? Low oil and gas prices.Natural Gas: Where Deep Pessimism Bodes Well (Globe and Mail)With many analysts now in agreement that natural gas prices can’t go much lower, is it time to invest? This article takes a tour through what happened to natural gas prices and where they might be heading from here.A Chance for BP to Get Its Kremlinology Right (Globe and Mail)BP is in a lucrative but loveless Russian marriage that seems headed for divorce, but BP CEO Bob Dudley might have found an elegant way to salvage his company’s Russian strategy. BP’s joint venture with TNK is on the rocks after TNK sued to prevent the British company from finalizing another Russian joint venture, a massive partnership with Rosneft that has since gone to rival ExxonMobil. Now it seems Rosneft might be willing to buy BP out of its deal with TNK in a deal that would involve cash and access to promising new fields in the Russian Arctic, an arrangement that would get BP out of its loveless marriage without having to give up its coveted Arctic foothold.last_img read more

In This Issue… Very tight range for currencies…

first_imgIn This Issue… * Very tight range for currencies… * Gold takes two steps back… * Eurozone Summit begins tomorrow…. * Don’t feed the Animals… And, Now, Today’s Pfennig For Your Thoughts! A Plan To Have A Plan? Good day… And a Wonderful Wednesday to you! I’m at a loss this morning… Usually, I have done some reading the previous night, and come to work loaded for bear… But that didn’t happen last night, as Alex and his band mates had “band practice” in my man cave / basement… While I love listening to Alex play his guitar, the beating of the drums gets to me after about, oh, 5- minutes! So, I went upstairs, to watch the baseball game… and since my computer is downstairs… no reading! Which means this could be short-n-sweet today… and then again, you never know with me, once I begin to bang on the keyboard with my fat fingers! And never knowing what’s going to happen next is the trading pattern we’ve been thrust into these past months, but even more so now, as the Central Bankers around the world, begin to figure out, what they could have learned years ago, by reading the Pfennig, and that is… they can’t control the economy like they think they can! And with every Central Bank meeting between the U.S. and Eurozone, the lead up to the meeting is full of anticipation, and then are left with disappointment… The markets want more from the Central Banks, but… they’ve done just about all they can do, and none of it works… You know, if they had just looked at Japan, they would have learned long ago that Central Bank meddling into the economy doesn’t work over time. Sure, there are short-term blips of positive response but those last about as long it takes to get lathered up about the economy… and then the disappointment sets in… Well.. I did an interview with The Street.com yesterday, and we talked about Gold, and a few other things. I made the point that while it doesn’t make sense to me, that investors are selling Gold ahead of the Eurozone Summit this week, as most people believe the Eurozone leaders will disappoint the markets… And since the markets have had their share of disappointment lately (see Ben Bernanke x 2) they are selling Gold and buying dollars. OK.. to prepare for disappointment is sound in my opinion… But to sell Gold when there is uncertainty in the world, on both sides of the Atlantic? I don’t find that as sound… But, as I told the reporter, I learned long ago that the markets are never wrong… I might not agree with them, but you don’t try to fight them. Instead, you do the old Ali, rope-a-dope… All this talk about disappointment isn’t carrying over to what you’re feeling while you read the Pfennig this morning! Yes, I’ve been very serious so far.. not the usual Chuck stuff… Don’t worry, it’s coming! Yesterday, we saw the currencies bounce around in a very tight range, with no direction and no conviction to more either way. Gold lost $13.. So, it’s one step forward, two steps back with Gold these days… But I don’t worry.. can you see me as Alfred E. Newman, with a balding head, and a big beer belly, saying, “What, me worry”? As I told the reporter yesterday, Gold’s backing off this year certainly gives all those that missed the boat the first time, cheaper levels to buy… This morning, I turned on the currency screens and noticed that ½ of the currencies were in the red, and the other ½ were in the green… Red is bad.. green is good… And Gold is down another $5 this morning… one step forward, two steps back.. I really don’t believe we’ll see much movement in either direction today for the currencies, as the markets await the Eurozone Summit which begins tomorrow… OK… last week, I wrote about what I believe the Eurozone leaders need to do to calm the markets at this summit… so I won’t get into that again, but… I’m afraid we’re not going to get what I believe is needed… There’s been some “leaking” of news before the Summit, and it appears that the Eurozone leaders are going to opt to come up with a “plan to have a plan”… Uh-Oh! I don’t think that’s going to calm the markets, but, as I said above… we don’t know how the markets will react… Maybe they’ll be buffaloed into thinking that this is good, just like they were last summer when the U.S. debt commission couldn’t come up with spending cuts, and the so-called “automatic cuts” were supposed to take over… From what I read this morning… the “plan to have a plan” will go about ½ of the way toward what I said was needed, by providing an accurate diagnosis of the challenges facing the Eurozone, and the steps that will need to be taken… They’ll talk about the 4 pillars: growth, banking union, fiscal union, political union) but they won’t get past that discussion… And then the “plan to have a plan” will put off the next phase until late fall, and maybe even into winter! So… you see, if the markets get a sniff of this like I did, then the disappointment will really set in… unless, like I said above, they get buffaloed… And the Eurozone leaders need time to put pressure on Germany to agree to all the things in the “plan”… It all begins tonight when German Chancellor Angela Merkel sits down to dinner with French President, Hollande… Mr. Hollande will attempt to use his “French charm” and get the German Chancellor to weaken her stance… Whoa, that almost sounds like the beginning of one of those romance novels or whatever they call them! But… what will most likely happen is that Angela Merkel will use Jedi mind tricks on Hollande and he won’t know what hit him! I know what that feels like, as I’ve had Jedi mind tricks played on me for years… HA! Chris Gaffney and yours truly, say that the Big Boss Frank Trotter, plays Jedi mind tricks on us… The global growth prospects got a boost overnight, when the China Securities Journal talked about the country introducing more proactive policies to ensure stable growth in the world’s second largest economy. Then the Xinhua News Agency said that “China plans to boost Hong Kong’s integration with mainland financial markets”… As I’ve told you all a couple of hundred times before… China still has the Treasure Chest stuffed full of reserves that can be used to stimulate their economy without going into debt doing so… But even more, China has more tools to use, as they have not painted themselves into a corner like Japan, the U.S. and the Eurozone have done by cutting interest rates to the bone and then gone to Quantitative Easing… And, like I told you all two years ago, when economists and analysts said that the Chinese economy would collapse, I said that it would moderate, but not collapse… and that’s exactly what’s happening! I love it when a plan comes together! Well… Italy auctioned some bonds this morning, and actually saw decent demand for their debt, and yields actually fell for the first time in a month of Sundays… But, even this news isn’t enough to take the markets focus off the Eurozone Summit that, like I said previously, begins tomorrow… Here in the U.S. we’ll see the color of Durable Goods Orders for May, and Pending Home Sales data from May… Not much in the way of market moving data… The “experts” are forecasting an increase in Durable Goods Orders of .5%… and Top lawmakers in the Senate say they have reached a deal on freezing student loan rates for another year.. But get this… but they are still deciding the mechanics for how the proposal should make its way through the legislature before Congress leaves for the July 4th holiday week… Hey, just pass it, no wait! Chuck don’t go there! Other than that… U.S. Consumer Confidence fell for the 4th consecutive month in June… The index number dropped from 64.4 in May to 62 in June… You know me… not that I want to see this, but it’s finally going in the direction I believe it should have been going all along, given the Wars, the debt, the unemployment, and the list goes on… So, maybe this is playing catch-up now… And in the category of “What the heck is going on here”? Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission,( CFTC) (you know the guys I complain about all the time for not doing their jobs) said regulation inevitably will lead the agency to go beyond domestic borders to police the derivatives market. He’s not the only one who sees it that way. “We are looking at the CFTC effectively becoming the global swaps regulator,” said Hannah Gurga, head of European affairs at ICAP. “Maybe that will be a good thing for financial stability, but it’s something overseas regulators need to be grappling with quite seriously.” Isn’t that the way things go in life? Screw up something beyond recognition, and get more powerful… Lynyrd Skynyrd is singing… You Got That Right on the iPod right now, so I guess they are answering my pondering.! Then There Was This… Ok… yesterday, I talked about how the U.S. Gov’t was recruiting people to sign up for food stamps… I find this to be totally wrong… well, a couple of readers sent me a note that just made me laugh and laugh… So… here goes…“The Food Stamp Program, administered by the U.S. Department of Agriculture, is proud to be distributing the greatest amount of free meals and food stamps ever.Meanwhile, the National Park Service, administered by the U.S. Department of the Interior, asks us to “Please Do Not Feed the Animals.” Their stated reason for the policy is because the animals will grow dependent on handouts and will not learn to take care of themselves.” Chuck again… talk about ironic! And that’s all I’ll say about that! To recap… a very tight range for the currencies yesterday lead us into what will probably be another tight range trading day for the currencies ahead of the Eurozone Summit which begins tomorrow… Chuck believes the Eurozone leaders will leave the markets with disappointment, unless that is they are buffaloed like they were last summer here in the U.S. Currencies today 6/27/12… American Style: A$ $1.0085, kiwi .7905, C$ .9755, euro 1.2495, sterling 1.5625, Swiss $1.04, … European Style: rand 8.3765, krone 6.02, SEK 7.07, forint 229.15, zloty 3.40, koruna 20.7470, RUB 32.90, yen 79.65, sing 1.2765, HKD 7.7585, INR 57.16, China 6.3565, pesos 13.74, BRL 2.0760, Dollar Index 82.39, Oil $78.95, 10-year 1.62%, Silver $26.89, and Gold… $1,569.20 That’s it for today… You know, I sounded like I didn’t like the band having practice at my house, but I have to say that it does remind me of when I played the guitar in a band and we practiced in my basement… My mom used to come downstairs and listen to us… she was our biggest fan… So… good memories there… I prefer to remember my mom from those years, for as she grew older she was stricken with MS, and then he whole persona changed… Well, college football finally has a playoff system! YAHOO! It will begin in 2014… and in the first year of the playoff my Missouri Tigers will be the Champs! Ok… I know, but I can dream right? And with that… I’ll dream that you loved the Pfennig today, and can’t wait for tomorrow’s! Now, go out and have a Wonderful Wednesday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.comlast_img read more