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Opec output up in April

Posted on 02 May 2014 by VRS  |  Email |Print

Opec’s oil output has risen in April from March’s three-month low, a survey found, although African outages and sabotage in Iraq are keeping supply far below the group’s target. Supply from the Organisation of the Petroleum Exporting Countries has averaged 29.68 million barrels per day (bpd), up from a revised 29.52 million bpd in March, according to the survey based on shipping data and information from sources at oil companies, Opec and consultants.
The impact on Opec output from unrest and unplanned cutbacks in Iraq and Libya is helping to prop up benchmark Brent crude , which is trading at more than $108 a barrel despite the US shale boom and other non-Opec supply growth………………………………………..Full Article: Source

El Niño could impact wide range of commodities

Posted on 28 April 2014 by VRS  |  Email |Print

Global farmers, fishermen, meteorologists and commodities traders are closely watching water temperatures in the South Pacific, waiting to see if the water will warm up this summer, a telltale sign of the El Niño phenomenon. According to the U.S. Climate Prediction Center, there is a roughly 65 percent chance that the climate pattern will develop, which could bring extreme weather conditions around the world. The last major El Niño event was in 1998.
Typically, El Niño brings drought to Australia, Asia and West Africa, which can wreak havoc on their commodity production, hurting those regions’ output of a wide range of commodities, including wheat, rice, coffee and cocoa………………………………………..Full Article: Source

EU should halve meat, dairy consumption to cut nitrogen-report

Posted on 25 April 2014 by VRS  |  Email |Print

People in the European Union, who according to a United Nations body eat way more protein than necessary, could prompt big cuts in nitrogen pollution if they halved their meat and dairy consumption, a U.N.-backed report said.
Nitrogen is used in fertiliser to replace nutrients which are removed by soils during plant growth but excess nitrogen can harm the environment by polluting water, air and soil………………………………………..Full Article: Source

Shale boom sends U.S. crude supply to highest since 1930s

Posted on 24 April 2014 by VRS  |  Email |Print

The U.S. is stockpiling the most crude since the Great Depression, thanks to the shale boom that has boosted production to the most in 26 years. Inventories rose 3.52 million barrels last week to 397.7 million, the highest level since 1931, according to Energy Information Administration data going back to 1920.
Crude output climbed 59,000 barrels a day to 8.36 million, the most since January 1988, as the combination of horizontal drilling and hydraulic fracturing, or fracking, unlocked supplies from shale formations in the central U.S., including the Bakken in North Dakota and the Eagle Ford in Texas………………………………………..Full Article: Source

Aluminium production reaches new high

Posted on 24 April 2014 by VRS  |  Email |Print

Global aluminium production reached a new high in March despite cuts to capacity by the biggest manufacturers. Companies such as Alcoa, Rusal and Rio Tinto have been shutting smelters over the past two years in an effort to tackle oversupply, as depressed prices continue to weigh on the industry. But surging output in China has more than offset these cuts.
Production of the lightweight metal rose to 4.329m tonnes last month, a 5 per cent year-on-year increase, according to the International Aluminium Institute. The previous monthly high, of 4.255m tonnes, was achieved in October………………………………………..Full Article: Source

Carbon Briefing: How energy demand could drink up global water resources

Posted on 24 April 2014 by VRS  |  Email |Print

Increasing energy demand is set to put pressure on the world’s water resources over the coming decades, according to a number of new expert studies. Even if the world shifts away from fossil fuels and toward cleaner power supplies, growing demand could help put water supplies under severe strain by the middle of the century.
From cooling down power plants and extracting, transporting and processing fuels to growing crops used as biofuels, energy production relies on water. Altogether, the sector accounts for 15 per cent of water withdrawals around the world, according to the International Energy Agency (IEA). Only agriculture is more water-hungry………………………………………..Full Article: Source

Iran only OPEC member expert in deep-water exploration

Posted on 23 April 2014 by VRS  |  Email |Print

Iran is the only member of the Organization of Petroleum Exporting Countries (OPEC) that has expertise in deep-water oil and gas exploration, an Iranian oil official said. Director of the Khazar Exploration and Production Company Ali Osouli said exploring the reserves in the deep Caspian basin requires technological expertise only a few countries possess, Iran Focus reported.
“At present, Iran is at the top of Caspian Sea littoral states to that effect,” he said Sunday. Iran is among the world leaders in terms of oil reserves. More than half of its oil is found inland………………………………………..Full Article: Source

Texas expected to outproduce all but one of the OPEC nations this year

Posted on 23 April 2014 by VRS  |  Email |Print

Benefiting from the booming Eagle Ford Shale and Permian Basin, Texas likely will best the oil output of every OPEC country but Saudi Arabia by year-end, says a top exploration official at ConocoPhillips, a key acreage holder in both of those oil-and-gas formations.
The Lone Star State is expected to end 2014 with 3.4 million barrels per day in oil output, which exceeds that of 11 of the dozen OPEC nations, ConocoPhillips Unconventional Reservoirs Technical Manager Greg Leveille said during a keynote speech at the 3rd Annual Eagle Ford Consortium Annual Conference in San Antonio………………………………………..Full Article: Source

U.S. crude reserves hit highest levels in nearly 40 years

Posted on 14 April 2014 by VRS  |  Email |Print

New data from the Energy Information Administration shows that crude reserves in the U.S. hit their highest levels since 1976. The EIA released a report on April 10, entitled “U.S. Crude Oil and Natural Gas Proved Reserves (2012),” which indicated that 2012 marked the fourth year in a row that proven oil reserves increased.
Not only that, but 2012 marked the largest increase in oil reserves for a single year – 4.5 billion barrels – since 1970. That is a remarkable feat since 1970 was the year that vast reserves, around 10 billion barrels, were booked in Alaska………………………………………..Full Article: Source

OPEC oil production fell by 500,000 b/d in March

Posted on 14 April 2014 by VRS  |  Email |Print

The commodities complex was relatively well supported on Thursday despite the wave of risk aversion that swept across other asset classes. Thus, for example, three-month copper futures actually finished the day higher by 0.6% to $6,636/metric tonne mark on the LME despite remarks from China’s Premier that the country will not embark on any significant stimulus to ward off a short-term economic slowdown.
Crude futures also took news of falling oil output from the Organisation of Petroleum Exporting Countries (OPEC) in their stride………………………………………..Full Article: Source

South Africa February platinum output plunges most in two years

Posted on 11 April 2014 by VRS  |  Email |Print

South Africa’s platinum group metals output dropped the most in two years in February after a strike at the world’s three biggest producers crippled output.
Production of PGM metals fell 36 percent in the month, Juan-Pierre Terblanche, a spokesman for Pretoria-based Statistics South Africa, said by phone today. That was the biggest decrease since February 2012, when workers walked out at Impala Platinum Holdings Ltd. for six weeks. The decline caused total mining output to drop 4.8 percent from a year ago………………………………………..Full Article: Source

Climate change: In the balance

Posted on 08 April 2014 by VRS  |  Email |Print

In science, more information is supposed to lead to better conclusions and greater consensus. The Intergovernmental Panel on Climate Change (IPCC), which published its latest report on March 31st, certainly has more information. The new study synthesises 73,000 published works (a quarter of them in Chinese). This represents a 100-fold increase in about 30 years.
But consensus remains elusive. Richard Tol of Sussex University, in Britain, disparagingly appraised the report’s conclusions as “the four horsemen of the apocalypse”. The final version appears to have been fought over paragraph and comma between those (such as Dr Tol) who want to describe dispassionately what they think is happening and those who want to scare the world into taking action………………………………………..Full Article: Source

U.S. oil now 10pct of world total

Posted on 28 March 2014 by VRS  |  Email |Print

The United States now produces 10.4% of the world’s crude oil, or 7.84 million barrels of crude oil a day. Of that total, 3.22 million barrels (43%) come from tight plays, including the shale oil fields of North Dakota and Texas. The rest comes from conventional production.
For those of you who are wondering why the U.S. Energy Information Administration (EIA) is claiming that 7.84 million is 10% of global production we’ll explain. According to the EIA and the International Energy Agency (IEA) and OPEC, total global production in 2014 will average right around 90 million barrels a day, meaning that 10% would equal 9 million barrels………………………………Full Article: Source

Resource revenue growth nears end

Posted on 27 March 2014 by VRS  |  Email |Print

The Australian government’s commodities forecaster expects resources export revenue to grow more than 60 per cent to $284.42 billion in the next five years as boomtime LNG and iron ore expansions supply what is expected to be sustained global growth.
But in real terms, which strips out inflation, the Bureau of Resources and Energy Economics has declared an end to a long stretch of resources revenue growth in four years…………………………………Full Article: Source

Spain’s oil deposits and fracking sites trigger energy gold rush

Posted on 27 March 2014 by VRS  |  Email |Print

Spain is already the world’s largest olive oil producer but now it’s looking to a very different kind of oil to pull it out of economic decline: petroleum. The discovery of two significant offshore deposits, and prospects for fracking in many areas, have triggered a black-gold rush, with demand for exploration permits up 35% since 2012.
A report published this week by Deloitte says the oil industry could create 250,000 jobs and constitute 4.3% of GDP by 2065. The report is based on an estimate of 2bn barrels of oil and 2.5bn cubic metres of gas…………………………………Full Article: Source

Global energy thirst threatens water supplies, UN says

Posted on 24 March 2014 by VRS  |  Email |Print

Energy production will increasingly strain water resources in the coming decades even as more than 1 billion of the planet’s 7 billion people already lack access to both, according to a United Nations report.
“There is an increasing potential for serious conflict between power generation, other water users and environmental considerations,” said the UN World Water Development Report published today that focused on water and energy. Ninety percent of power generation is “water-intensive,” it said………………………………………..Full Article: Source

Release oil from US reserve to hurt Russia

Posted on 19 March 2014 by VRS  |  Email |Print

World oil price could drop $10-$12 per barrel. Russia’s seizure of Crimea has prompted political leaders in Europe and North America to seek meaningful measures to convince Russia to pull back its troops.
In particular, they seek measures that would affect Russia immediately, putting internal pressure on the country’s leaders to stop their aggression while leaving the rest of the world unharmed. Some propose accelerating natural gas exports from the US to Europe. However, this is no better than computer “vapourware” because the gas would not arrive for years………………………………………..Full Article: Source

China’s secret vaults: Where is all the missing gold?

Posted on 19 March 2014 by VRS  |  Email |Print

China has recently become the world’s largest consumer of gold. Uniquely, it also ranks as both the largest producer and the biggest importer of gold. Yet a big question surrounds the true state of the Chinese demand for gold; the answer would determine how global gold prices are likely to fare.
The expectation that Chinese investors will sustain a voracious appetite for gold has helped to spark a recent rebound in gold prices………………………………………..Full Article: Source

Global oil supply up in February

Posted on 18 March 2014 by VRS  |  Email |Print

According to the International Energy Agency (IEA), global oil supplies rose by 600 00 bpd in February, reaching 92.81 million bpd. This growth was led by a 500 000 bpd rise in OPEC crude output.
In February, OPEC Crude supplies surmounted the 30 million bpd mark for the first time in five months, led by a surge in Iraqi output, rising 500 000 bpd to reach 30.49 bpd. Total non-OPEC supplies rose 1.3 million bpd in 2013, and the IES anticipates that this figure will rise a further 1.7 million bpd in 2014………………………………………..Full Article: Source

Commodities cushioned from Crimea crisis by ample supply

Posted on 17 March 2014 by VRS  |  Email |Print

Unprecedented natural-gas reserves in Europe, record global grain output and the threat of mutual economic calamity from oil sanctions are cushioning commodity prices even as the Ukraine-Russia conflict spurs a gold rally.
While U.K. gas prices, a European benchmark, rose 5.1 percent since the crisis began at the end of February, they are still the lowest for this time of year since 2010. Brent crude fell 0.6 percent. After wheat advanced 15 percent and corn 4.7 percent, both remain about a quarter below the peaks in 2010, the last time Russia and Ukraine curbed shipments. Gold reached a six-month high on March 14 as demand for a haven grew………………………………………..Full Article: Source

US to release oil from strategic reserve

Posted on 13 March 2014 by VRS  |  Email |Print

The US has announced its first “test” sale of oil from its strategic petroleum reserve since Iraq invaded Kuwait in 1990, in a move that underlines its ability to respond to any energy market turmoil that might arise from the Ukrainian crisis.
The Department of Energy described the planned release of up to 5m barrels of oil, less than 1 per cent of the 696m barrels in the reserve, as intended “to appropriately assess the system’s capabilities in the event of a disruption”………………………………………..Full Article: Source

KSA’s oil output rises to 9.84 mbd

Posted on 12 March 2014 by VRS  |  Email |Print

OPEC heavyweight Saudi Arabia produced 9.849 million barrels per day (mbd) of crude oil in February, up from 9.767 mbd in January, an industry source familiar with the matter said on Tuesday.
The world’s largest oil exporter supplied 9.899 mbd in February to the market, down from 9.916 million bpd in January. Supply to market may differ from production depending on the movement of barrels in and out of storage………………………………………..Full Article: Source

Exactly how much does it cost to produce an ounce of gold?

Posted on 07 March 2014 by VRS  |  Email |Print

For many years, there was broad agreement that the gold industry’s cost reporting was an embarrassment and an utter joke. Gold miners have worked hard to shed that reputation in the past year and a half. And they certainly made progress with the introduction of all-in sustaining costs.
But the question remains: Are investors now being told what it really costs to produce an ounce of gold? According to experts, that is debatable………………………………………..Full Article: Source

OPEC oil output drops to lowest level in 2.5 years

Posted on 04 March 2014 by VRS  |  Email |Print

Oil production from OPEC dropped to its lowest level in 2 1/2 years, according to a Bloomberg survey. Production dropped by 11,000 barrels per day from January to February, down to an average of 29.877 million barrels per day. OPEC’s production hasn’t been that low since June 2011.
Much of the lost production was due to a decrease in production in Saudi Arabia, as well as the ongoing political conflict in Libya and Nigeria that has forced capacity offline. Libya’s oil production dropped by 120,000 bpd in February, marking the ninth out of eleven months in which oil production dropped. Its daily output now stands at 350,000 barrels — the country has the ability to produce around 1.5 million bpd, as it did before its civil war………………………………………..Full Article: Source

HSBC maintains $1,292/oz gold price forecast for 2014

Posted on 04 March 2014 by VRS  |  Email |Print

HSBC is keeping its 2014 average gold price forecast unchanged at $1,292 per ounce, the bank said, and sees the metal ranging between $1,120 and $1,390 this year.
Physical demand for jewellery, coins and bars from China and other emerging markets is now driving the price, it said in a note on Monday. And while ETF outflows have moderated, investment demand for gold remains tepid, it added. “The gold market is still finding its equilibrium after last year’s price plunge, which ended a bull run,” chief precious metals analyst James Steel said………………………………………..Full Article: Source

Australia boosts gold output

Posted on 04 March 2014 by VRS  |  Email |Print

Output of gold in Australia, the world’s No. 2 producer, rose to its highest in a decade in 2013 as richer ores were mined to combat weak bullion prices, a survey released on Sunday showed.
The practice, known as high-grading, caused output to jump by 7 percent, or 18 tonnes, to 273 tonnes (8.8 million ounces) last year, worth about $9 billion and the highest since mid-2003, according to a tally by Melbourne-based consultant Surbition Associates. “The 2013 total gold output of 273 tonnes is the highest annual figure since 2003,” said Dr. Sandra Close, a Surbiton director………………………………………..Full Article: Source

OPEC oil output drops to lowest level in 2 ½ years

Posted on 03 March 2014 by VRS  |  Email |Print

Oil production from OPEC dropped to its lowest level in 2 ½ years according to a Bloomberg survey. Production dropped by 11,000 barrels per day from January to February, down to an average of 29.877 million barrels per day. OPEC’s production hasn’t been that low since June 2011.
Much of the lost production was due to a decrease in production in Saudi Arabia, as well as the ongoing political conflict in Libya and Nigeria that has forced capacity offline. Libya’s oil production dropped by 120,000 bpd in February, marking its ninth out of eleven months in which oil production dropped. Its daily output now stands at 350,000 barrels – the country has the ability to produce around 1.5 million bpd, as it did before its civil war………………………………………..Full Article: Source

Domestic oil production continues to improve trade picture

Posted on 26 February 2014 by VRS  |  Email |Print

New data from the Energy Information Administration illustrates the improving trade picture for the United States due to a rapid increase in oil production. Rising production, flat demand, and increasing exports of refined petroleum products reduced the U.S. trade deficit to its lowest level in November 2013 since the aftermath of the financial crisis in 2009.
However, the quantity of oil imported dropped a lot more than its price tag. In other words, U.S. oil imports peaked in 2005 at around 10 million barrels per day………………………………………..Full Article: Source

Why the resource supercycle is still intact

Posted on 25 February 2014 by VRS  |  Email |Print

Natural-resource-based industries are very capital intensive, and hence extremely cyclical. It is not unreasonable to say that as a natural-resource investor, you are either contrarian or you will be a victim. These markets are risky and volatile!
Let’s talk about cyclicality first. Some of the cyclicality of these industries is a function of their being extraordinarily capital intensive. This lengthens the companies’ response times to market cycles. Strengthening copper prices, for example, do not immediately result in increased copper production in many market cycles, because the production cycle requires new deposits to be discovered, financed, and constructed—a process that can consume a decade………………………………………..Full Article: Source

Water is not a commodity, it is a part of our heritage

Posted on 19 February 2014 by VRS  |  Email |Print

Access to good quality water was the topic of the first-ever official hearing held for a European citizens’ initiative at the European Parliament on 17 February. The Right2Water campaign wants universal access to clean water and sanitation and opposes the liberalisation of water services. They collected nearly two million signatures in order to ask the European Commission to produce EU legislation on this. We talked to the organisers to find out more.
Organisers of the Right2Water campaign are urging the Commission to guarantee access to water and sanitation for all Europeans and give legaly binding guarantees that water services will not be liberalised in the EU. “Water is not a commodity, it is part of our heritage,” said Anne-Marie Perret, president of the Right2Water citizens’ committee. (Press Release)

Oil inventories declined most since 1999 in IEA estimate

Posted on 14 February 2014 by VRS  |  Email |Print

Oil inventories in advanced economies tumbled in the fourth quarter by the most since 1999 because of “surprising robustness” of demand in the U.S. and other developed nations, the International Energy Agency said.
The IEA, a Paris-based adviser to oil-consuming nations, also boosted forecasts for global fuel demand this year and the amount of crude that will be required from the Organization of Petroleum Exporting Countries………………………………………..Full Article: Source

Platts survey: OPEC pumps 29.87 mln barrels of crude oil per day

Posted on 12 February 2014 by VRS  |  Email |Print

Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose 150,000 barrels per day (b/d) to 29.87 million b/d in January from 29.72 million b/d in December as an increase of 280,000 b/d in still-beleaguered Libyan production more than offset drops in Angola, Iraq and Saudi Arabia, a just-released Platts survey of OPEC and oil industry officials and analysts showed Monday.
“The Libyan situation has a long way to go to play out but this is clearly good news,” said John Kingston, Platts global director of news. “Steady increases in Libyan output will help the country recover and will help bring stability to a market that is getting hit by various outages around the world.” Libyan production climbed to 530,000 b/d in January from 250,000 b/d in December after the restart of production at the 340,000 b/d-capacity Sharara field at the beginning of the month. (Press Release)

OPEC oil production reaches 29.94 mln bpd in January

Posted on 04 February 2014 by VRS  |  Email |Print

OPEC’s (Organization of the Petroleum Exporting Countries) oil production reached an average of 29.94 million barrels per day in January, Reuters reported. January’s expansion in oil output was a contrast to December’s production of 29.63 million bpd - the lowest since May 2011 for OPEC when the average was 28.90 million bpd.
Oil output from Iran gained 50,000 bpd to reach 2.75 million bpd in January. Previously, OPEC said it could handle a rise in oil supply from Iran if sanctions that restrict oil output are loosened, The Wall Street Journal reported………………………………………..Full Article: Source

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Why OPEC’s output is finally on the rise after December low

Posted on 03 February 2014 by VRS  |  Email |Print

OPEC’s oil output has risen in January from December’s 2-1/2-year low, due to a partial recovery in Libyan supply and higher shipments from Iraq and Iran. Output from the Organization of the Petroleum Exporting Countries averaged 29.94 million barrels per day (bpd), up from a revised 29.63 million bpd in December, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.
The survey illustrates the potential for OPEC supply to rebound in 2014 if Libya, Iraq and Iran sustain higher output. That could put pressure on oil prices without cutbacks from other members………………………………………..Full Article: Source

OPEC says can handle extra oil from Iran, Libya, Iraq

Posted on 28 January 2014 by VRS  |  Email |Print

OPEC will be able to handle the extra oil expected to come from Iran, Iraq and Libya, OPEC’s secretary general said on Monday, insisting the group would collectively head off any oversupply.
Top OPEC supplier Saudi Arabia along with core Gulf producers the United Arab Emirates and Kuwait have increased supplies to fill the gap left from outages in Libya and Iraq and Western sanctions on Iran………………………………………..Full Article: Source

Gold production soars to record in 2013 despite price drop: study

Posted on 24 January 2014 by VRS  |  Email |Print

Despite plummeting gold prices, global production of the precious metal reached a record in 2013 for the fourth-consecutive year. The result appeared in a report on Thursday from the precious metals consultancy Thomson Reuters GFMS. In addition to dispelling theories about “peak gold,” the study shows that gold miners are churning out the metal at a furious pace, even though they are facing severe margin pressure.
Total gold mine supply reached 2,982 tonnes last year, according to GFMS estimates, up 4.1% from 2012. But Rhona O’Connell, head of metals research and forecasting at GFMS, said the final number will likely be higher as fourth quarter production guidance from miners has been stronger than expected………………………………………..Full Article: Source

OPEC cuts production in December

Posted on 20 January 2014 by VRS  |  Email |Print

OPEC has lowered its oil output further and is pumping less than this year’s global need for its crude, the exporter group said, underlining the toll that outages in Libya and elsewhere are taking on production.
The monthly report from the Organization of the Petroleum Exporting Countries kept unchanged its global supply and demand forecasts, which point to a smaller market share for OPEC in 2014 due to increasing supply from non-OPEC countries………………………………………..Full Article: Source

OPEC cuts output closer to 2014 demand, upbeat on economy

Posted on 12 December 2013 by VRS  |  Email |Print

OPEC has trimmed its crude oil output towards next year’s global requirement, the exporter group said on Tuesday, further whittling away at a supply surplus that could weigh on prices.
The monthly report from the Organization of the Petroleum Exporting Countries, which kept its output policy unchanged at a meeting last week, also sounded an upbeat note on the prospects for the world economy in 2014………………………………………..Full Article: Source

Worst raw-material slump since ’08 seen deepening

Posted on 03 December 2013 by VRS  |  Email |Print

The commodity slump that spurred bear markets in everything from gold to corn to sugar this year will deepen by the end of December as prices head for their first annual loss since 2008, if history is any guide.
The Standard & Poor’s GSCI Spot Index of 24 raw materials fell in December 83% of the time since 1971 when the benchmark gauge was posting losses for the year through November, data compiled by Bloomberg show. The average December loss was 3.9%, which if it happened this time would mean a 7.8% drop for the year……………………………….Full Article: Source

Worst raw-material slump since ’08 seen deepening: Commodities

Posted on 02 December 2013 by VRS  |  Email |Print

The commodity slump that spurred bear markets in everything from gold to corn to sugar this year will deepen by the end of December as prices head for their first annual loss since 2008, if history is any guide.
The Standard & Poor’s GSCI Spot Index of 24 raw materials fell in December 83 percent of the time since 1971 when the benchmark gauge was posting losses for the year through November, data compiled by Bloomberg show. The average December loss was 3.9 percent, which if it happened this time would mean a 7.8 percent drop for the year………………………………..Full Article: Source

Oil supply: The cartel’s challenge

Posted on 02 December 2013 by VRS  |  Email |Print

At a private dinner early in November a group of executives from one of the world’s largest commodity traders was asked to predict the price of oil in a year’s time. Without exception the forecasts, scribbled on place cards without consultation, were for Brent crude to fall well below the $100 a barrel level it has traded above for most of the past three years.
Those predictions reflect a growing consensus in the oil market. From US shale to an easing of sanctions on Iran, the coming years are expected to provide a huge boost to global output, inverting the structure of the oil market in which supplies have long been rationed by a handful of producers………………………………..Full Article: Source

How to invest in the most precious commodity on earth

Posted on 21 November 2013 by VRS  |  Email |Print

“Water, water everywhere, nor any drop to drink.” This line from Samuel Taylor Coleridge’s poem “The Rime of the Ancient Mariner” is apropos not only for those lost at sea but for the Earth in general.
The Earth is indeed the “water planet,” with more than 70% of its surface covered with the liquid. However, more than 97% of this water is unusable salt water, meaning freshwater accounts for less than 3% of the world’s supply. Of that total, more than 70% is frozen, resulting in a very limited supply of usable freshwater. Only 0.007% of all of Earth’s water is available for human use. ………………………………..Full Article: Source

Oil supply now comfortable but could tighten - IEA

Posted on 15 November 2013 by VRS  |  Email |Print

Oil markets look well supplied in the short term but prices could rise in the next few months due to a seasonal increase in demand and production problems in some OPEC producers, the West’s energy watchdog said on Thursday.
The International Energy Agency (IEA) said in its monthly report oil was likely to stay volatile with prices responding to political turmoil in Libya, security problems in Iraq and stronger northern hemisphere winter consumption………………………………………..Full Article: Source

Are gold supplies running out?

Posted on 14 November 2013 by VRS  |  Email |Print

Gold has long been a sought after commodity. Human history, such as the conquest of the Americas, has been defined by the quest to find gold mines and reserves. Now, however, the world’s gold mines may be becoming fully tapped.
Some experts even believe that all gold mines could become fully tapped within the next 20 years. This could have a dramatic impact on gold and bullion prices as while supply may run out, demand most likely will not………………………………………..Full Article: Source

China could match U.S. gold reserves inside 10 years – or earlier

Posted on 14 November 2013 by VRS  |  Email |Print

Since writing a recent article suggesting that China’s Reserve Bank, the Peoples Bank of China (PBOC), has been building up its gold holdings, but without reporting this to the IMF we have been contacted by a Bloomberg research analyst, Andrew Cosgrove, who has, with his colleague Kenneth Hoffmann, been working on Chinese gold data, and who has come up with a somewhat similar conclusion.
In this case some specific figures have been developed in the research which do tie in well with Philip Klapwijk’s assertion that China has taken some 300 tonnes of gold into reserves in the first half of the current year………………………………………..Full Article: Source

U.S. to become world’s top oil producer in 2015 - IEA

Posted on 13 November 2013 by VRS  |  Email |Print

The United States will stride past Saudi Arabia and Russia to become the world’s top oil producer in 2015, the West’s energy agency said, bringing Washington closer to energy self-sufficiency and reducing the need for OPEC supply.
But by 2020, the oilfields of Texas and North Dakota will be past their prime and the Middle East will regain its dominance - especially as a supplier to Asia, the International Energy Agency (IEA) said on Tuesday………………………………………..Full Article: Source

OPEC oil output remains higher than 2014 demand

Posted on 13 November 2013 by VRS  |  Email |Print

OPEC’s production remains higher than next year’s global requirement for its crude, the exporter group said on Tuesday, even after Saudi Arabia cut production from a record high level.
The monthly report from the Organization of the Petroleum Exporting Countries adds to signs that increasing supply from the United States, enjoying a shale energy boom, and other non-OPEC countries will weigh on OPEC’s market share in 2014………………………………………..Full Article: Source

Brazil set to become major global oil supplier -IEA

Posted on 13 November 2013 by VRS  |  Email |Print

Brazil is set to become a net oil exporter and top 10 producer from 2015 if it overcomes hurdles to developing its giant offshore discoveries, the West’s energy agency said on Tuesday.
In its 2013 World Energy Outlook, the International Energy Agency (IEA), which advises large industrialised nations on energy policy, said Brazil could play a major role in supplying the world’s energy needs in coming decades, though its rise would hinge on its ability to develop its resources………………………………………..Full Article: Source

China’s growing gold stockpile

Posted on 04 November 2013 by VRS  |  Email |Print

The news that a Chinese company is to buy the largest commercial gold vault in the world (inthe Chase Manhattan Plaza in New York) is yet another reflection of China’s enthusiasm for stockpiling gold. Although China only infrequently releases official figures on this matter,the World Gold Council estimates China will import over 1000 tonnes of gold this year, overtaking India as the biggest buyer in the world.
But whereas India is trying to reduce its gold imports through the imposition of taxes and import restrictions, China takes the opposite view and is encouraging the acquisition of gold by all sectors………………………………………..Full Article: Source

Water as a commodity: can investors boost access to this critical resource?

Posted on 31 October 2013 by VRS  |  Email |Print

‘Blue gold’ investors claim to improve access to a vital resource, but critics argue commoditization may out-price the poor. From commodity guru Jim Rogers to the likes of Goldman Sachs, it has become almost cliché to refer to water as “blue gold” – a whole new commodity that can be bought and sold on par with gold, oil and corn.
After all, as demand grows and water infrastructure crumbles, the world is running out of drinkable water. And many believe the problem can only be solved if cash-strapped governments team up with “angel” investors and others in the private sector……………………………….Full Article: Source

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