Being the change we need to see. Good stuff. Organized and persistent individuals are a formidable force, always have been.
Following similar initiatives in cities across the country, city students are organizing to prohibit the use of this synthetic material in schools and business across Maryland. Here is a direct video link.
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Solar power is a huge part of solutions needed on planet earth. The sector is in the midst of a massive boom that will last for years to come. Embracing this is key for greater efficiency and self-sufficiency along with necessary cost savings. Resistance is dumb, transition is obvious. We should be grateful for this important evolution. The science has arrived just as the world desperately needs it. See: Sun Sets on big oil jobs
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Thought provoking discussion. New models are needed to solve our challenges and it will be highly disruptive of current systems and ways that we measure progress and share resources. That is the point, we need to evolve. We should expect it to be unsettling.
How do we make sense of today’s political divisions? In a wide-ranging conversation full of insight, historian Yuval Harari places our current turmoil in a broader context, against the ongoing disruption of our technology, climate, media — even our notion of what humanity is for. This is the first of a series of TED Dialogues, seeking a thoughtful response to escalating political divisiveness. Make time (just over an hour) for this fascinating discussion between Harari and TED curator Chris Anderson. Here is a direct video link.
I also like this cartoon. On point today, more than ever…
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Since the OPEC cut deal last September, crude prices have moved back above $50 a barrel and incentive to produce has naturally moved higher with them. This has attracted even more hopeful capital into the space, and led to yet another wave of over-investment. In the US alone, 130 additional horizontal rigs have been brought on stream since last fall, taking U.S. crude inventories to new record highs. Last week 13.8 million barrels were added to U.S. storage–the second largest in history. And it’s not just America, OECD inventories and are now more than 400 million barrels above the 5-year average (charted here since 2012).
As shown below, over-production by the U.S. and Canada has been most prominent.
What about all those momentum trading algos and bullish speculators?
A recent Wall Street Journal article noted a new record in long crude oil futures positions during the last week in January. It went on to speculate that this meant a possible end to the over-supply of oil and that prices should increase.
That observation is not supported by history. In fact, record long positions are commonly followed by a drop in oil prices. Notable examples shown in Figure 8 include price declines around the 2008 Financial Collapse, the 2014 world oil-price collapse, and the brief rally to $60 prices in the Spring of 2015.
“An explosive critique about the investment industry: provocative and well worth reading.” Financial Post
“Juggling Dynamite, #1 pick for best new books about money and markets.” Money Sense
“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.” Toronto Sun