I normally don't like to post interim updates on these issues because they simply go back and forth and would clutter the site.
In light of several developments, I thought the update important. The developments:
- a) Japanese nuclear disaster has changed everything
- b) Permitorium in the Gulf continues
- c) The price of oil is headed back up after a short (and meaningless) pullback
- d) The US is technically "broke" financially; weakens the dollar --> oil price up
- e) Although it's off the front pages, Mideast turmoil is probably getting worse, not better
- f) Libya is likely to be protracted; NATO doesn't have enough planes to take on a fractured 3rd world country that no longer has an air force or a functioning navy; and, no real army any more
- g) Delay in federal onshore permits
- h) Minnesota votes to life coal restrictions (a crack in "global warming" wall?)
- i) California votes to increase renewable energy mandates
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