22 October 2014

Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil | Zero Hedge

Meanwhile, This Is Who Is Quietly Buying All The Cheap Oil | Zero Hedge:



With the US Shale Oil industry up in arms, Venezuela screaming, and Russia awkwardly quiet (as the Ruble slides with the falling oil price stabilizing domestic inflows)the 'secret' Saudi-US oil deal that pressured prices for crude down to $80 (18-month lows today) has 'hurt' a lot of the world's producer nations. However, as Bloomberg reports, there is one nation that is very grateful. The number of supertankers sailing toward China’s ports surged to a nine-month high as over 80 very large crude carriers (VLCCs) - the industry’s biggest ships - sail toward the Asian country’s ports. At an average of 2 million barrels each, the 160 million barrels will help refill China's 727 million barrel SPRwhich it started in 2012.

There are 89 tankers sailing for Chinese ports, 80 of which are VLCCs - the highest since January 3rd.

The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases.

There are 80 very large crude carriers, the industry’s biggest ships, sailing toward the Asian country’s ports, according to IHS Fairplay vessel-tracking signals compiled by Bloomberg at about 10 a.m. today. That’s the highest since Jan. 3. Average shipments are 2 million barrels.

Brent crude, the global benchmark, plunged to a four-year low yesterday amid speculation Saudi Arabia, Kuwait and other nations in the Organization of Petroleum Exporting Countries won’t curb production. The slump is likely encouraging buying to fill China’s strategic stocks, according to Energy Aspects Ltd., a London-based consultant.

“There’s a lot of bargain hunting going on,” Richard Mallinson, an analyst at Energy Aspects, said by phone. “Whilst prices are low we think there’ll be buying for Strategic Petroleum Reserve filling and also just trying to capture these discounted crudes.”

...

The 80 bound for China compare with an average of 63 for the past two years and match a record in data that started in October 2011.
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In summary, just like Chinese gold imports rise when the price of gold drops; so China does the logical thing with other commodities, (i.e. oil) when prices tumble and instead of selling into the paper rout, it buys all the physical it can get its hands on.

22 September 2014

Why I Hope to Die at 75

Why I Hope to Die at 75 - The Atlantic



It's a great article and you should read it. I didn't include the article here because it's a large article.



Oh, and I think 75 may be a bit high for me, but I'm not decided yet.

15 September 2014

FBI launches national facial recognition system

FBI launches national facial recognition system - New York News:



NEW YORK (MYFOXNY) - The Federal Bureau of Investigation has fully rolled out a new biometric identification system that includes facial recognition technology.

The FBI, working with the Criminal Justice Information Services Division, says the Next Generation Identification System is now fully operational.
The system is designed to expand biometric identification capabilities across the country and eventually replace the FBI's current fingerprint system.
The system includes two new databases.
One, called Rap Back, enables FBI authorized entities the ability to receive ongoing status notifications of any criminal history reported on specific individuals. The bureau says that it will help law enforcement agencies, probation and parole offices, and others greatly improve their effectiveness by being advised of subsequent criminal activity of persons under investigation or supervision.
The second is called the Interstate Photo System. IPS facial recognition service will provide law enforcement agencies across the country an image-searching capability of photographs associated with criminal identities. The Feds say it is a significant step forward for the criminal justice community in utilizing biometrics as an investigative tool.
This latest phase ois only one portion of the FBI's NGI System. Since phase one was deployed in February 2011, the NGI system has introduced enhanced automated fingerprint and latent search capabilities, mobile fingerprint identification, and electronic image storage.
More than 18,000 law enforcement agencies and other authorized criminal justice partners across the country will have access to the system 24 hours a day, 365 days a year.