The shale and oil revolution that has transformed U.S. and global energy markets is on its way to Australia. According to U.S. government report, resource-rich Australia could be home to as much as 10 times the existing known gas reserves, higher than its existing oil reserves.
Six months ago Brisbane company Linc Energy Ltd. released two reports, based on drilling and seismic exploration, estimating the amount of shale oil in the as yet untapped 30,000 square mile Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to a mind boggling 233 billion barrels of oil.Sponsored Ads
If the upper end estimates are correct then it means that the Arckaringa Basin is six times larger than the Bakken, seventeen times the size of the Marcellus formation, and 80 times larger than the Eagle Ford U.S. shale deposits.
To put the potential of the Arckaringa Basin in context, Saudi Arabian reserves are estimated at 263 billion barrels.
There’s just one problem with their thesis: The batteries that have powered support for Abe’s revival plan — surging stocks — are running out. Given how quickly the Japanese electorate tends to sour on politicians, the prime minister and his most ardent fans should be worried.
Six months into Abe’s shock-therapy experiment of massive monetary and fiscal stimulus as well as sweeping structural reforms, Japan faces record trade deficits, extreme volatility in the bond market and rising energy and food costs as a weaker yen makes imports more expensive. The capital-spending and household-wage increases that are needed to halt deflation have yet to materialize.
Six months ago, as rocket fire was falling on Tel Aviv, my six-year-old daughter had to pay her first visit to a bomb shelter. On Monday, she had to pay her second and third visits.
On Sunday night, before she went to bed, we had reminded her that sirens would be going off the next day, and that she shouldn’t be afraid of them. Yes, yes, she said, impatiently brushing us off; she knows it’s a drill.
Along with all Israeli children, and the small part of the adult population willing to play a role, at 12:30 p.m. Monday she was duly marched by a teacher to the shelter. At 7:05 p.m. it was our turn as parents to run through the drill at home.
Such drills are not a novelty to Israelis, but the more a potential war seems imminent, the more sober they become. All day, radio announcers remind us: “In case of real emergency, another siren will be heard.”
Indeed, in recent weeks there was hardly a day without someone discussing the possibility of real war. Israel, as the New York Times reported less than a week ago, is reluctantly being dragged into Syria’s turmoil.
The inability of Japanese government debt to stop gyrating wildly poses a significant threat to the country’s climb out of its two-decade economic mire.
In the past six months, Japanese 10-year bond yields have swung like a pendulum. The huge swings were never more prescient than Thursday, when the yield jumped over 1.0% for the first time in over a year.
That volatility poses a significant threat to Japan, specifically through the balance sheets of its banks. In a statement clearly acknowledging those risks, Bank of Japan Governor Haruhiko Kuroda said Friday that it is “extremely desirable” for the nation’s debt market to be stable.
“If there was a good window of opportunity to attack, it was six months ago – not necessarily today,” said Giora Eiland, a former Israeli national security adviser. Pressure from Washington, he said, had forced Israel to drop its strike plan.
“If nothing happened last year, I struggle to see why it will happen this year,” said a top Western diplomat in Tel Aviv, speaking on condition of anonymity given the sensitivities.
An emerging superbug is infecting an increasing number of people in the United States, and health officials are calling for urgent action to stop its spread.
During the first six months of 2012, nearly 200 hospitals and long-term acute care facilities together treated at least one person who had been infected by the superbug, known as Carbapenem-Resistant Enterobacteriaceae, or CRE, according to a new report from the Centers for Disease Control and Prevention (CDC). The bacteria is resistant to a class of antibiotics known as carbapenem, powerful drugs that are typically used as a last resort to treat resistant bacterial infections, thus the origin of the superbug’s name.
… According to Khalili’s highly placed informants, the mullahs set a deadline. If America increases sanctions or conducts a military strike on Iranian nuclear sites in the next six months, the mullahs will unleash terror teams in the United States.
Khalili writes that 10 senior Revolutionary Guards officers, members of the elite Quds Force, are already here. Highly trained and sophisticated, each commands a cell of five agents. Targets have been identified, photographed and approved by Supreme Leader Khamenei, and include electrical transmission lines, cell phone towers, water supplies, public transportation, bridges, tunnels and government buildings.
Sounds too far-fetched? …
Now he is facing a problem he has never encountered before, one that is an awkward fit with his skeptical, K.G.B.-trained mind. Six months into his third presidential term, after a wave of unsettling street protests, Mr. Putin needs an ideology — some idea powerful enough to consolidate the country around his rule.
One of the few clear strategies to emerge in recent months is an effort to mobilize conservative elements in society. Cossack militias are being revived, regional officials are scrambling to present “patriotic education” programs and Slavophile discussion clubs have opened in major cities under the slogan “Give us a national idea!”
After the escape of the blind, barefoot lawyer Chen Guangcheng from his farmhouse in Shandong Province, where he’d been under illegal house arrest, Mr. Song took an even more dangerous risk. He drove to Dongshigu, Mr. Chen’s village, and helped the wife of Mr. Chen’s nephew, who had also been arrested, to escape to Beijing, where she went into hiding to avoid being abused by the local government.
Mr. Song’s act of justice was labeled a crime of “disturbing public order,” and the Beijing Public Security Bureau detained him on May 5. A lawyer visited him a month later, and soon afterward, Mr. Song was put under residential surveillance. He hasn’t been seen or heard from since.
China’s shameless Article 73, which has been criticized by legal experts and human rights groups, gives law enforcement agencies broad surveillance powers and the authority to legally detain terrorism or “national security” suspects for up to six months. It’s that regulation that has resulted in Mr. Song’s being cut off from the world, leaving us willing yet unable to help him.
Officials in Washington and Paris are trying to play down the revised estimates because it throws out the basic premise of the Obama administration’s Middle East policy that Bashar Assad can’t last more than six months against the rebel offensive. US military experts now admit, albeit without attribution, that the overall balance of strength – and not just the numbers – has radically changed in the Assad regime’s favor, due to direct Iranian military input: Military advisers of the elite Al Qods Brigades are conducting crash combat courses for the 70,000- strong pro-Assad Alawite militia and sections of the Syrian army still loyal to the ruler.
This qualitative injection into Assad’s military sources will substantially extend the life expectancy of his regime.