Tweets and blurbs..........
12/29/14 ....
Commodity Prices Are Cliff-Diving Due To The Fracturing Monetary Supernova - The Case Of Iron Ore
Submitted by Tyler Durden on 12/30/2014 - 17:05
The worldwide economic and industrial boom since the early 1990s was not indicative of sublime human progress or the break-out of a newly energetic market capitalism on a global basis. Instead, the approximate $50 trillion gain in the reported global GDP over the past two decades was an unhealthy and unsustainable economic deformation financed by a vast outpouring of fiat credit and false prices in the capital markets. In short, when the classical Austrians talked about “malinvestment” the pending disasters in the global steel and iron ore industries (and also mining equipment and other supplier industries) are what they had in mind.
Saudi Facing Largest Deficit In Its History
Submitted by Tyler Durden on 12/30/2014 - 11:49
The nearly 50 percent plunge in the price of oil during the past six months is expected to leave oil-rich Saudi Arabia with its first budget deficit since 2011 and the largest in its history. Oil is the principal, if not the only, resource in Saudi Arabia, so it’s clear that the price of oil has a strong influence on how the country’s annual budget is drawn up. Different analyses, however, provide different answers to how Riyadh has forecast the commodity’s value. Four of these reports say the Saudi budget is predicated on oil averaging $55 to $63 per barrel in 2015.
Alaska Governor Warns State's Fiscal Situation "Critical" As Oil Price Drops
Submitted by Tyler Durden on 12/30/2014 - 09:44
Narrative, we have a problem. What is billed day after day as 'unequivocally good' is entirely not good for Alaska (oh and Texas and Pennsylvania and...) as with oil prices dropping, AP reportsAlaska Gov. Bill Walker has halted new spending on six high-profile projects, pending further review. With oil taxes and royalties expected to represent nearly 90% of Alaska's unrestricted general fund revenue this year, officials warned, "the state's fiscal situation demands a critical look."
12/29/14 ....
Dave Walton
The consequence of local fighting, but a spectacular sight none the less - an oil tank fire in Ras Lanuf in #Libya
Ahmed Sanalla
Al-#Sidra Oil terminal: 7 crude oil tanks have been destroyed.
An 8th tank exploded on Monday the 29th
#Libya
Al-#Sidra oil terminal has 19 storage tanks with capacity of 6.2 million barrels. 5 tanks ablaze. 2 contained #Libya
Nearby tanks to those on fire being emptied. Estimated loss so far range from 1 to 1.5 million bbl. Al-#Sidra #Libya pic.twitter.com/Abqv5zLEpM
12/19 tanks have storage capacity of 350,000 bbl. 4/19 tanks have capacity of 500,000 bbl. Total 6.2 million bbl.
Half of Libya's daily crude oil exports are from Al-#Sidra port..making it #Libya's largest #oil terminal.. pic.twitter.com/SJHptdk0qs
Holger Zschaepitz
#Russia Ruble now down 9.6% vs Dollar as Russian GDP contracts for 1st time since 2009. http://news.xinhuanet.com/english/europe/europe/2014-12/30/c_127345119.htm …
RT @Schuldensuehner: Ruble tumbles 8% on lower oil prices while 5yr Russian implied default probability rises to 27%-
Nick Timiraos
"The world is experiencing much more than a temporary dip in oil prices," says @elerianm http://www.bloombergview.com/articles/2014-12-29/this-era-of-lowcost-oil-is-different …
How Increased Inefficiency Explains Falling Oil Prices http://www.zerohedge.com/news/2014-12-29/how-increased-inefficiency-explains-falling-oil-prices …
CFR
Crashing oil prices, paired with reduced output, threaten to diminish the Venezuela's main source of income: http://on.cfr.org/1HbTPxy
CFR
Bloomberg Business
While you were getting worked up over oil prices, this just happened to solar http://bloom.bg/1y2cmLj
http://about.bnef.com/bnef-news/japan-to-review-power-generation-costs-in-january-mainichi-says/
DEC 23, 2014
JAPAN TO REVIEW POWER GENERATION COSTS IN JANUARY, MAINICHI SAYS
(Bloomberg) — Japan’s trade ministry will start reviewing generation costs from various power sources in January, the Mainichi newspaper reported today, without saying where it got the information.
The ministry will set up a task-force to put together cost estimates by the end of March, the paper said. The move follows similar estimates three years ago.
Estimated costs will be used to decide how much electricity should come from which sources by 2030, according to the Mainichi.
Kazi Australia™
#MiningEnergy 
Gold slips as US dollar rebounds: GOLD prices have fallen, but investors are watching Greece, ... http://kazi.info/1A5UKw3
Gold slips as US dollar rebounds: GOLD prices have fallen, but investors are watching Greece, ... http://kazi.info/1A5UKw3 
Ian Fleming
"So the collapse of the mother of all commodity bubbles is virtually baked into the cake. " http://bit.ly/1zs8hLO
Alasdair Thompson
Oil is but one commodity experiencing price collapse. Iron ore, coal, copper. Lower growth or contraction=lower demand+hi supply= low prices
BBG: "Aurelius sent letter to Petrobras bondholders urging them to give company formal notice of default after failing to report 3Q results"
Federal Reserve Bank New York Lost 47t Of Gold In November https://www.bullionstar.com/blog/koos-jansen/federal-reserve-bank-new-york-lost-47t-of-gold-in-november/ …
Unambiguously bullish for the global economy RT @money_china: Copper Reaches 4-Year Low on Slowing China Growth: LME Preview
There "Is" Blood: Energy Services Firm Civeo Cuts Headcount 45% & Guidance By 30%, Suspends Dividend http://www.zerohedge.com/news/2014-12-29/there-blood-energy-services-firm-civeo-cuts-headcount-45-guidance-30-suspends-divide …
Brazil's Economy Just Imploded http://www.zerohedge.com/news/2014-12-29/brazils-economy-just-imploded …
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