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OPEC IS DEAD : LONG LIVE THE FREE MARKET

By Ambrose Evans-Pritchard

8:01PM GMT 09 Dec 2014

















The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned.




Revolutionary changes sweeping the world’s energy industry will drive down the price of liquefied natural gas (LNG), creating a “multi-year” glut and a much cheaper source of gas for Europe.





Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting.



“The consequences are profound and long-lasting,“ he said.




The free market will now set the global cost of oil, leading to a new era of wild price swings and disorderly trading that benefits only the Mid-East petro-states with deepest pockets such as Saudi Arabia. 




If so, the weaker peripheral members such as Venezuela and Nigeria are being thrown to the wolves.





The bank said in its year-end report that at least 15pc…

Fact or Fiction?: Geoengineering Can Solve Global Warming

Neither blocking sunlight nor capturing carbon can stop climate change







December 12, 2014 |By David Biello










ARTIFICIAL VOLCANO: Could mimicking a massive volcanic eruption, like that of Pinatubo in the Philippines in 1991, avoid global warming? 
Courtesy of U.S. Geological Survey













A global deal to combat climate change lurches toward reality in Lima, Peru, this week—and yet any politically feasible agreement will be insufficient to restrain continued warming of global average temperatures, perhaps uncomfortably high. 



Although recent pledges by China, the 28 countries of the European Union and the U.S. are the first signs of the possibility of restraining the endless growth of greenhouse gas pollution on a long-term basis, atmospheric concentrations of carbon dioxide have crossed the threshold of 400 parts per million—and will reach 450 ppm in less than two decades at present growth rates. 



The estimated one trillion metric tons of carbon the atmosphere can absorb could be burned through in ev…

WEST COAST PORTS : Port congestion’s root cause?

Getting the two together seems to be the crux of the matter ...












Ocean carriers get blamed for foisting big ships on ports, but say inadequate compensation prevents investment in better service.








By Eric Kulisch |Friday, December 12, 2014






A couple participants at a port industry conference this week called out the container shipping industry for not owning its share of responsibility for severe congestion at several major ports, and other speakers urged carriers to get more involved with port authority task forces to help find solutions. 












 Two of the major reasons behind the massive backlogs, according to maritime experts, are massive new ships introduced by ocean carriers and their divestment of chassis. 










Both moves were taken to cut costs.











 Larger vessels currently arriving in some ports have two- to three-times the carrying capacity of previous generation vessels, resulting in a 25 percent cost reduction for transport when fully loaded.










http://www.americanshipper.com/Main/ASD/Port_conge…

WATSON'S MAFIA AT THE NATIONAL MANGO BOARD : IS THERE A LEGACY ???

NEW VISION AFTER WATSON ERA AT NMB:






Research program efforts will focus on mango nutrition and health, as well as an increased focus on mango quality and postharvest practices research. 


The Industry Relations program will work towards enhancing industry communication and preparedness to create a unified mango industry. 



This program will also focus on the Continuance Referendum, which will be held April 6-17, 2015, where mango industry members will have the chance to vote on the NMB’s continuation. 



The NMB has also updated its vision statement – To bring the world’s love of mangos to the U.S. Updating the vision ensures that the NMB programs and mission complements the new era of development and growth. 




Lastly, the NMB website, www.mango.org , redesign will be launching in 2015. 



The new intuitive design will allow consumers and industry members to navigate the site easier and will be fully responsive with mobile phones and tablets.




Learn more at www.mango.org.

For more information:
Lucy Ke…