The Global Hunt For Oil: Canadian Firm Drills
First Exploration Well in Somalia

post from Oilprice.com Daily News Update on 27 January 2012 07:01:45 PM. © Oilprice.com Daily News Update

Energy companies are renowned for taking risks as they scour the globe for new opportunities.

That said however, Canada’s Vancouver, BC-based Horn Petroleum Corporation, a unit of Africa Oil Inc., is in a class by itself, having begun drilling operations in Somalia’s semi-autonomous northern Puntland state.

Somalia?

Which has not had an effective government since 1991?

Land of “Black Hawk Down,” pirates, battling militias, al Shabaab militants and U.S. drone strikes against…

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Iran to take Action Against the West by Banning
Oil Exports to the EU

post from Oilprice.com Daily News Update on 27 January 2012 06:51:00 PM. © Oilprice.com Daily News Update

Following the recent agreement by the EU to impose trade sanctions against Iran the Iranian parliament will debate a law that could halt all oil exports to the continent.

"On Sunday, parliament will have to approve a 'double emergency' bill calling for a halt in the export of Iranian oil to Europe starting next week," Hossein Ibrahimi, vice-chairman of parliament's national security and foreign policy committee, was quoted as saying.

The EU accounted for 18 per cent of Iranian crude oil sales in the first half of 2011,…

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Transmission Line Under the Mediterranean to
Supply Italy with Clean Power

post from Oilprice.com Daily News Update on 27 January 2012 06:48:34 PM. © Oilprice.com Daily News Update

It seems that more and more large, renewable energy projects are being announced each day. The most recent is a giant solar power plant that will be built by Top Oilfield Services, a Tunisian oil and gas engineering company, and Nur Energie, a British solar firm. The project, called TuNur, will consist of a two gigawatt concentrated solar power (CSP) park.

CSP works by thousands of heliostatic mirrors focussing the sun’s rays onto a central tower filled with fluid that then heats up and drives the turbines. The plant will…

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How To Finally Make A Profitable Website In 2012
Webinar Recording Now Available

post from Entrepreneurs-Journey.com by Yaro Starak on 27 January 2012 05:00:51 PM. © Entrepreneurs-Journey.com by Yaro Starak

New Update! As requested, the recording of the webinar is now available.

You can stream it from this page –

How to Finally Make A Profitable Website In 2012 – Webinar Live Recording

On that page you will also find the link for the special $1 trial for two weeks + huge bonus pack offer that expires January 31st… Read the rest of this entry »

Read The Full Article:
http://feedproxy.google.com/~r/EntrepreneursJourney/~3/PRoXddaHIp0/

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Two more graphs on GDP in the USA

post from Economics as Classical Mechanics on 27 January 2012 04:32:10 PM. © Economics as Classical Mechanics

Two more graphs on real GDP in the USA. In the forth quarter of 2011, the level of real GDP was[...]

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http://mechonomic.blogspot.com/2012/01/two-more-graphs-on-gdp-in-usa.html

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Financial arbitrage is fun when it actually works

post from Start Making Sense on 27 January 2012 04:30:52 PM. © Start Making Sense

According to this article, one aspect of the New York Mets' financial problems is that they owe a huge amount of deferred income to former Mets players. Disastrous former Met Bobby Bonilla is the most famous example, as he is owed almost $1.2 million annually for each of the next 25 years, but there are others as well.

The article offers the following explanation for the Mets' willingness to accept huge deferred salary obligations:

"The Mets once were comfortable pushing salary obligations for their players into the future because the Wilpons were, Picard alleges, getting 18 percent average annual returns on money they invested with Madoff regardless of drastic market fluctuations. So why would it matter if they deferred a player's salary at 8 percent annual interest? They could pocket the sizable difference between the interest owed to the player and what Madoff could make for them."

For that matter, if you can keep on getting 18 percent annually no matter what, why ever pay cash for anything, and indeed why not run up all the debt that they evidently did?

Great financial minds, except for being fatally credulous?

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http://danshaviro.blogspot.com/2012/01/financial-arbitrage-is-fun-when-it.html

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MIxed markets on uneven earnings and economic
data

post from VerySmartInvesting on 27 January 2012 04:26:32 PM. © VerySmartInvesting

Dow dripped 74, advancers ahead of decliners 2-1 & NAZ gained 11. Limited strength in bank stocks pushed the Financial Index higher. S&P 500 Financials Sector IndexValue...

Very Smart Investing!

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http://feedproxy.google.com/~r/Verysmartinvesting/~3/RfNVFdoBPGk/mixed-markets-on
-uneven-earnings-and.html

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Real GDP and GDP deflator in 2011

Here are some quick notes on the new estimates of real GDP and GDP deflator for 2011.[...]

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http://mechonomic.blogspot.com/2012/01/real-gdp-and-gdp-deflator-in-2011.html

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Greece - Between Iran and a Hard Place

Well, its official – on 23 January European Union foreign ministers agreed to ban the import of Iranian oil as part of sanctions designed to pressure Iran to end its alleged covert pursuit of nuclear weapons under the guise of its civilian nuclear uranium enrichment program.

Measures approved by Brussels Eurocrats include an immediate ban on the signing of new supply contracts for Iranian crude oil and petroleum products for EU refineries, with existing contracts being scheduled for phasing out by 1 July. The EU currently buys around…

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