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Keyword: reserves

Brevity: Headers | « Text »
  • Oil Markets Brace As U.S. Looks To Sell 100 Million Barrels From SPR

    09/09/2016 2:59:36 PM PDT · by bananaman22 · 36 replies ^ | 09-09-2016 | SPR
    Aging infrastructure could render the U.S. strategic petroleum reserve (SPR) increasingly ineffective, according to a new report from the Department of Energy. The U.S. has stored roughly 700 million barrels of crude oil in salt caverns in Texas and Louisiana for decades. The SPR was established in the aftermath of the Arab oil embargo in 1973, which painfully revealed U.S. oil dependence as high prices drove up inflation, created fuel shortages and lines at gas stations, and rocked the American economy. The SPR was setup to stash 90 days’ worth of supply into storage for safekeeping, meant to be used...
  • Czech Republic calls for increasing its Emergency Food Reserves (title translated & shortened)

    08/24/2016 10:51:40 AM PDT · by MarchonDC09122009 · 5 replies ^ | 08/02/2016 | Katerina Adamcova
    Czech Republic calls for increasing its Emergency Food Reserves (title translated & shortened) Food supplies lasts Czech Republic is still a little over a day. The state has a problem getting emergency food 1st 8th 2016 21:35 (updated: 2. 8. 2016 11:31)  Katerina Adamcová Read more: Food | food | strategic stocks | milk      State still fails to obtain the required emergency food for three days.      Do tenders for milk powder came forward only two firms.      Now milk powder, according to the Chairman of the State Material Reserves Paul's brother in law the right nutritional value and should have...
  • It's Official: Canada Has Sold All Of Its Gold Reserves

    03/03/2016 10:29:50 AM PST · by blam · 56 replies
    Zero Hedge ^ | Tyler Durden
    Tyler Durden March 3, 2016One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total reserves, which also include foreign currency deposits and bonds. As we noted, the decision to sell came from Finance Minister Bill Morneau’s office. “Canada’s gold reserves belong to the Government of Canada, and are held under the name of the Minister of Finance,” explained a...
  • Prepare For A Dramatic Decline In Oil Reserves

    12/29/2015 4:46:20 AM PST · by thackney · 19 replies
    Forbes ^ | DEC 28, 2015 | Robert Rapier
    According to the 2015 BP Statistical Review of World Energy, in the past 10 years global proved oil reserves grew by 334 billion barrels to reach a global total of 1.7 trillion barrels. To put that in perspective, Saudi Arabia's proved oil reserves stood at 267 billion barrels at the end of 2014. That means that the global proved oil reserves added to the books in the past decade were equal to one and a quarter Saudi Arabias. Was that much new oil actually discovered over that time frame? No. Further, we can anticipate that a big fraction of the...
  • Cheap oil puts the House of Saud at risk: Kingdom exhausts monetary reserves in 5 years

    12/14/2015 12:15:26 PM PST · by SeekAndFind · 26 replies
    Asia Times ^ | 10/22/2015 | Spengler
    Saudi Arabia spends money like there’s no tomorrow. A new report from the International Monetary Fund suggests that there might not be a tomorrow for the House of Saud. Without massive spending cuts, the Kingdom will exhaust its monetary reserves in five years at current oil prices, the IMF reckons. Saudi Arabia is a rich country full of poor people, and the House of Saud has bought a lot of legitimacy by subsidizing its subjects. The dynasty might not survive the sort of austerity measures that the IMF insists are necessary to keep the Kingdom from running out of reserves...
  • Breaking News: Worker Ants Really Lazy

    07/07/2015 6:26:39 PM PDT · by Louis Foxwell · 22 replies
    A Bug’s Life 07.07.156:05 PM ET Breaking News: Worker Ants Really Lazy A new study out of the University of Arizona finds that ants specialize in inactivity. Good news for slackers! Turns out nature’s archetypal busybodies, worker ants, are lazy too.Researchers have actually been aware of ants’ slacker habits for a while, but they didn’t know whether the sluggish members of the Temnothorax rugatulus species of western North America were inactive or rather just taking a break.“It’s just the sort of a thing that anyone who’s ever worked on social insects has noticed: ‘Oh look, half of them are standing around...
  • Tattoos, prescription drugs, obesity hinder Army Reserves recruitment effort

    02/16/2015 8:19:50 PM PST · by PROCON · 23 replies
    washingtontimes ^ | Feb. 16, 2015 | Maggie Ybarra
    The majority of potential Army reservists are either hooked on prescription drugs, have too many tattoos, are overweight or have mental conditions that prohibit them from joining the military, recruiters say. Seven out of 10 applicants — who return to their civilian lives after training, but can be called into active service at any time — fail to meet Army Reserve standards for on mental, physical and other grounds, said Capt. Eric Connor, U.S. Army Reserve Command spokesman. The problem affects the broader service as well. According to Army Recruiting Command statistics compiled last year, 71 percent of young people...
  • Chief of naval personnel: Navy should expand sabbatical program

    01/03/2015 6:30:58 AM PST · by Timber Rattler · 8 replies
    The (Norfolk) Virginian-Pilot, via Stars & Stripes ^ | January 2, 2015 | Mike Hixenbaugh
    Thousands of sailors get out of the Navy every year because they want to start a family. Or to enroll in school. Or because they are burned out on frequent deployments and months away from home. With the national unemployment rate dropping and more service members leaving for the private sector, the chief of naval personnel says he wants to do everything he can to keep the best sailors in uniform longer — even if that means letting them go for a while. “We need to offer meaningful incentives to keep the best talent we can, both men and women,”...
  • Leaders Not Sure if Troops on Ebola Deployments Will Receive R&R

    11/14/2014 3:52:07 PM PST · by wtd · 2 replies ^ | Nov 14, 2014 | Amy Bushatz Leaders Not Sure if Troops on Ebola Deployments Will Receive R&R FORT CAMPBELL – Military leaders have not yet decided whether troops deployed to West Africa will receive mid-tour leave, officials told Army family members here at a town hall style video teleconference (VTC) to Liberia held here Nov. 13. Answers given at the town hall by Maj. Gen. Gary Volesky, commander of the 101st, were paraphrased by Fort Campbell-based officials and posted to the base’s official Facebook page. The event was not open to reporters. Defense officials have said the Ebola related deployments to Liberia could last as...
  • What Senator Elect Joni Ernst Was Caught Doing 2 Days After the Election

    11/10/2014 5:08:30 PM PST · by Kevin in California · 46 replies
    Joni Ernst was elected as Iowa’s first female US Senator last Tuesday as part of the massive GOP landslide which saw the Party retake the majority in the the Upper House of Congress.

    10/16/2014 2:31:03 PM PDT · by shove_it · 71 replies
    AP ^ | 16 Oct 2014 | JIM KUHNHENN
    WASHINGTON (AP) -- President Barack Obama on Thursday authorized the Pentagon to call up reserve and National Guard troops if they are needed to assist in the U.S. response to the Ebola outbreak in West Africa. Obama signed an executive order that allows the government to call up more forces and for longer periods of time than currently authorized. There is no actual call-up at this point...
  • Japan Rolls Out Campaign To Stockpile Toilet Paper

    09/01/2014 11:10:44 AM PDT · by blam · 41 replies
    AP ^ | 9-1-2014 | MARI YAMAGUCHI
    MARI YAMAGUCHI Associated Press TOKYO (AP) -- A message Japan began delivering Monday is a bit unusual, but true enough: Don't wait until it's too late to think about toilet paper. The government and paper companies kicked off a "Let's stockpile toilet paper!" campaign to mark Disaster Prevention Day, warning of a possible crisis because nearly half of the supply comes from one of Japan's most earthquake-prone areas. Officials said people immediately think of food and water as emergency supplies, but easily forget toilet paper, and get desperate when it's too late. "After running out of toilet paper, people start...
  • Crude oil reserves at start of 2013 reach highest level since 1976

    04/10/2014 8:03:19 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | APRIL 10, 2014 Crude o | Energy Information Administration
    U.S. crude oil proved reserves rose for the fourth consecutive year in 2012, increasing by 15% to 33 billion barrels, according to the U.S. Crude Oil and Natural Gas Proved Reserves (2012) report released April 10 by the U.S. Energy Information Administration. U.S. crude oil and lease condensate proved reserves were the highest since 1976, and the 2012 increase of 4.5 billion barrels was the largest annual increase since 1970, when 10 billion barrels of Alaskan crude oil were added to U.S. proved reserves. Contributing factors to higher crude oil reserves include increased exploration for liquid hydrocarbons, improved technology for...
  • Are Lenders Really Loosening Credit For Homebuyers? Very Slowly (Reserves Trapped)

    06/22/2013 8:05:05 AM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 06/22/2013 | Anthony B. Sanders
    There was an interesting article on entitled “Housing Seen Shrugging Off Loan Rate Rise as Banks Loosen” complete with a video interview of Trulia’s chief economist Jed Kolko. Essentially, he denies that rising mortgage rates won’t be a problem until mortgage rates rise to 10.5%. If we use a rent or buy calculator, people should buy today at these low mortgage rates according to Koklo. But at a 10.5% mortgage rate, Koklo suggests that you would rent. Holding all other things constant (which they never are), people will be buying because the relative cost of homeownership is lower. The...
  • Show me the (gold)money!

    03/19/2013 6:51:51 AM PDT · by Eric Thesos · 1 replies
    2013-03-19 | Eric Thesos
    How much gold does America really have?
  • U.S. taps reserves to calm New York, New Jersey fuel "panic" post Sandy

    11/02/2012 7:03:26 PM PDT · by Oldeconomybuyer · 15 replies
    Reuters ^ | November 2, 2012 | By David Sheppard and Jonathan Spicer
    (Reuters) - A third day of gasoline "panic buying" among storm-stricken motorists in the New York area and New Jersey prompted authorities to tap emergency oil reserves and ordered the military to dispatch fuel on Friday, while limited deliveries from pipelines and oil barges offered a glimmer of relief. Four days before the U.S. presidential election, the Obama administration made an all-out effort to ease the crisis, authorizing the Defense Logistics Agency to buy and deliver up to 22 million gallons of fuel for the region, waiving a rule barring foreign-flagged vessels transiting U.S. ports and loaning out diesel from...
  • 10 Countries Sitting On Gigantic Piles Of Gold

    10/08/2012 6:47:47 AM PDT · by blam · 21 replies
    TBI ^ | 10-8-2012 | Mamta Badkar
    10 Countries Sitting On Gigantic Piles Of Gold Mamta BadkarOct. 8, 2012, 6:44 AMAP Images Gold prices have been supported by central bank gold purchases. According to the World Gold Council (WGC), global central banks bought 157.5 tonnes of gold in the second quarter, up 63 percent quarter-over-quarter and up 137.9 percent year-over-year. In fact, there is a school of thought that suggests euro zone members use gold as collateral for sovereign debt issuance to keep bond yields. We put together a list of the countries with the biggest official gold holdings as reported by the WGC last week. We...
  • House Dems to Obama: Be ready to tap emergency oil reserves (Sea levels to rise?)

    02/22/2012 5:12:30 PM PST · by Libloather · 36 replies
    The Hill ^ | 2/22/12 | Andrew Restuccia
    House Dems to Obama: Be ready to tap emergency oil reservesBy Andrew Restuccia - 02/22/12 03:20 PM ET Three House Democrats urged President Obama Wednesday to consider releasing oil from the country's emergency stockpiles in order to lower gas prices. The lawmakers warned that tapping the Strategic Petroleum Reserve (SPR), a 696-million-barrel stockpile of oil stored in salt caverns along the Gulf Coast, could soon be necessary to combat rising prices they say stem from market speculation. “It is essential that the United States have an aggressive strategy for releasing oil from the Strategic Petroleum Reserve to combat the speculators...
  • Only one major media outlet reports terror suspect as Muslim

    06/17/2011 1:31:41 PM PDT · by Todd Kinsey · 10 replies
    This morning police in Washington D.C. arrested Yonathan Melaku, a Muslim, for suspicious activity near Arlington National Cemetery and the Pentagon. The twenty-two-year-old Melaku is a naturalized U.S. citizen originally from Ethiopia that also serves in the Marine Corp Reserves. He was found carrying ammonium nitrate fertilizer and other materials making reference to Al Qaeda and the Taliban. The first reports I saw came from the Drudge Report and neither made reference to Malaku’s religion. Then I remembered the stories about Asan Akbar who killed two members of his platoon and wounded fifteen more and Hasan Nidal who killed thirteen...
  • There Will Be Oil (advocates of 'peak oil' have wrongly been predicting a crisis in energy supplies)

    09/19/2011 2:25:22 PM PDT · by SeekAndFind · 46 replies
    Wall Street Journal ^ | 09/19/2011 | Daniel Yergin
    Since the beginning of the 21st century, a fear has come to pervade the prospects for oil, fueling anxieties about the stability of global energy supplies. It has been stoked by rising prices and growing demand, especially as the people of China and other emerging economies have taken to the road. This specter goes by the name of "peak oil." Its advocates argue that the world is fast approaching (or has already reached) a point of maximum oil output. They warn that "an unprecedented crisis is just over the horizon." The result, it is said, will be "chaos," to say...
  • Report says we have more oil than we thought

    09/16/2011 1:38:46 PM PDT · by Obadiah · 23 replies
    Houston Chronicle ^ | 9/15/2011 | Tom Fowler
    A new report that predictably found huge potential natural gas supplies in the U.S. also contained news its own writers found surprising - that oil is more abundant than they thought. "Contrary to conventional wisdom the North American oil resource base also could provide substantial supply for decades ahead," the report said.
  • IDF Prepares to Call Up Reserves

    09/14/2011 11:46:57 PM PDT · by Eleutheria5 · 20 replies · 1+ views
    Arutz Sheva ^ | 15/9/11 | Chana Yaar
    he Israel Defense Forces are preparing for the possibility of Palestinian Authority Arab riots beginning September 20, when the PA will bring its statehood bid to the United Nations. Israel's military will begin to call up its reserves, probably starting this Sunday, September 18, sources said Thursday. Arutz Sheva has been informed that the residents of the Jewish towns in Judea and Samaria have warned the Arab residents of PA-controlled areas that if they approach the security fences surrounding their towns, the response will be “unequivocal.” The warning comes in the wake of threats by PA Arabs to march on...
  • 3 to 4.3 Billion Barrels of Oil in North Dakota and Montana’s Bakken Formation

    08/09/2011 7:56:30 AM PDT · by Bigun · 60 replies
    USGS Newsroom ^ | 4/10/2008 2:25:36 PM | U.S. Department of the Interior, U.S. Geological Survey
    North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation. A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency's 1995 estimate of 151 million barrels of oil.
  • The Global Physical Gold & Silver Reserves Race is the New Nuclear Arms Race

    07/21/2011 8:39:20 AM PDT · by SeekAndFind · 3 replies
    Zero Hedge ^ | 07/21/2011 | JS Kim
    The old Cold War USA-USSR nuclear arms race has been replaced by the new East-West Central Bank battle to accumulate physical gold and physical silver reserves. While Western Central Banks and their puppet bullion banks have distracted and goaded private citizens with the invention of fraudulent bogus paper gold and paper silver derivative products, including ETFs more recently, and paper futures contracts for a much longer period of time, they themselves have been making sure to avoid the very fraudulent paper products they have invented and have been diving headfirst into real physical precious metals. As Central Banks continue to...
  • EDITORIAL: Obama’s gas stunt comes up empty

    07/18/2011 5:11:27 PM PDT · by jazusamo · 42 replies
    The Washington Times ^ | July 18, 2011 | Editorial
    Siphoning oil from strategic reserve fails to cut pricesThe results are in from President Obama’s controversial decision last month to tap into the nation’s oil reserves to drive down gas prices: none. Like his futile efforts to revive the moribund U.S. economy by spending $1 trillion in borrowed money, the president’s release of 30 million barrels from the nation’s Strategic Petroleum Reserve produced nothing more than a brief pause in the steady rise in prices at the pump. Nearly three years into an energy policy designed to hector Americans into accepting pointless “green” alternatives, the president seems to have finally...
  • Oil rebound weakens effect of supply release (Fill up now)

    06/29/2011 12:32:02 PM PDT · by Hojczyk · 17 replies
    Yahoo Finance (AP) ^ | June 29, 2011 | Chris Kahn
    The sway that non-OPEC governments had over oil and gasoline prices petered out in less than a week. Benchmark crude hit $95.21 per barrel Wednesday on the New York Mercantile Exchange. Over two days, oil has recovered the loss from last Thursday when the U.S. and other oil-importing countries said they'd dump emergency oil supplies onto the market. Brent crude, which is used to price many international oil varieties, also rebounded. Although at $111.95 per barrel, it's still about 2 percent below where it was last week. The swift rebound in oil means that motorists won't see as big of...
  • Freep a Poll! (Fox. Do you support releasing oil from the strategic reserve?)

    06/23/2011 2:52:41 PM PDT · by dynachrome · 23 replies ^ | 6-23-11 | Fox News
    Do you support the decision to release the oil? No. That oil is for a real emergency. Maybe. I know many people have been hit hard by rising gas prices but they were already starting to come down. Yes. This will help a lot of folks this summer . Other (post a comment).
  • Obama was against tapping the Strategic Oil Reserve before he was for it. (FAIL from 2008!)

    06/23/2011 11:41:41 AM PDT · by GlockThe Vote · 14 replies
    Hot Air ^ | 2008 | Ed Morrissey
    Obama Flip Flops on tapping Strategic Oil Reserve - FAIL « on: Today at 10:05:48 AM » Quote Modify Remove -------------------------------------------------------------------------------- Obama flip flops on Strategic Petroleum Reserve posted at 2:50 pm on August 4, 2008 by Ed Morrissey Via Jim Geraghty, who caught this even while on vacation. In August 2005, Obama agreed with George Bush’s decision to release oil from the Strategic Petroleum Reserve in order to buffer the economy from the effects of Hurricane Katrina. However, Obama warned that such actions should only take place in times of real emergency (emphases mine): I agree with the...
  • U.S. Releases 30 Million Barrels of Oil From Petroleum Reserve

    06/23/2011 7:48:44 AM PDT · by AT7Saluki · 41 replies
    National Journal ^ | 6/23/11 | Coral Davenport
    Energy Secretary Steven Chu announced Thursday that the U.S. and its partners in the International Energy Agency will release 60 million barrels of oil onto the world market over the next 30 days to offset the disruption in the oil supply caused by unrest in the Middle East. The U.S. will release 30 million barrels of oil from the nation’s Strategic Petroleum Reserve. The SPR is currently at a historically high level with 727 million barrels, according to the Energy Department. “We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in...
  • How a society girl left her glamorous life to become one of America's first women in Iraq

    06/20/2011 7:58:39 AM PDT · by Niuhuru · 16 replies
    Daily Mail ^ | 9:40 AM on 20th June 2011 | By Daily Mail Reporter
    The daughter of a prominent New York lawyer has told of her amazing transformation from sheltered, society girl to seasoned combat veteran. Former Manhattan jetsetter Jane Blair swapped her pampered life in New York to become one of the first women on the frontline in Iraq. In her new memoir Hesitation Kills, Mrs Blair, now a 38-year-old captain in the Marine Reserves, recalls the moment that changed her life. She said: 'I grew up in this environment where I never had to work for a living. My dad told me, "I will always take care of you".' She was in...
  • Fort Knox U.S. Gold Reserves to be Independently Audited and Assayed? Congressman Ron Paul Pressures

    06/17/2011 11:08:16 AM PDT · by Nachum · 31 replies
    zero hedge ^ | 6/17/11 | Tyler Durden
    Gold has given up much of yesterday’s modest gains and is marginally lower in all currencies except the Swiss franc. The euro has stabilized despite continuing contagion concerns and an existential threat to the euro currency itself. Gold remains close to record nominal highs in all major currencies but media coverage in the UK, Ireland and Europe remains minimal and skeptical. Focus continues to be almost exclusively on bond, equity and currency markets – with little or no coverage of gold. The ramifications of contagion and a euro currency crisis which would lead to the price of gold in euros...
  • Selling Gold at Fort Knox Emerges as Next Big Question in Debate on Federal Debt Limit

    05/17/2011 12:21:08 PM PDT · by statestreet · 118 replies · 1+ views
    The New York Sun ^ | May 17, 2011 | David Pietrusza
    NEW YORK — The next big question on the federal debt limit could be whether to start selling the government’s holdings of gold at Fort Knox — and at least one presidential contender, Ron Paul, has told The New York Sun he thinks it would be a good move. The question has been ricocheting around the policy circles today. An analyst at the Heritage Foundation, Ron Utt, told the Washington Post that the gold holdings of the government are “just sort of sitting there.” He added: “Given the high price it is now, and the tremendous debt problem we now...
  • A New U.S. Energy Plan: Sell Oil Reserves, Use Profits to Invest in Clean Tech

    04/29/2011 5:24:12 PM PDT · by MsLady · 31 replies
    The Daily Ticker ^ | April 29, 2011 | Chris Nichols
    Presidents and politicians of all political affiliations have said for decades the U.S. must find an energy source that can serve as a viable alternative to crude oil imports from foreign nations -- a fair number of which aren't exactly gushing supporters of the red, white and blue.
  • US corn reserves expected to fall to 15-year low

    04/08/2011 2:58:41 PM PDT · by Nachum · 24 replies
    Associated Press ^ | 4/8/11 | Staff
    St. Louis - Rising demand for corn from ethanol producers is pushing U.S. reserves to the lowest point in 15 years, a trend that could lead to higher grain and food prices this year. The Agriculture Department on Friday left its estimate for corn reserves unchanged from the previous month. The reserves are projected to fall to 675 million bushels in late August, when the harvest begins, or roughly 5 percent of all corn consumed in the United States. That would be the lowest surplus level since 1996.The limited supply is chiefly because of increasing demand from ethanol makers, which
  • Authorizing Veteran Status for National Guard and Reserve Members Entitled to Reserve Retirement Pay

    03/15/2011 12:11:23 AM PDT · by Racehorse · 10 replies
    Email list ^ | 14 March 2011 | National Guard Association of the United States
    The Issue:  Authorizing Veteran Status for National Guard and Reserve Members Entitled to Reserve Retirement Pay Immediate Action Required: Contact your Senators and Representative and ask them to support H.R.1025 and S.491. These bills would authorize National Guard and Reserve members entitled to Reserve retirement pay the honor of claiming "Veteran" status. On March 4, 2011, Sen. Mark Pryor introduced S.491, Honor America's Guard-Reserve Retirees Act of 2011. On March 10, 2011, Rep. Tim Walz introduced H.R.1025, co-sponsored by Rep's Tom Latham and Jon Runyan, to amend Title 38 to recognize service in the Reserve Components by honoring them with status...
  • Obama Administration May Tap Emergency Fuel Supplies

    03/06/2011 11:30:00 AM PST · by 668 - Neighbor of the Beast · 49 replies ^ | 3/06/11 | My Fox - Houston
    WASHINGTON -- The Obama administration is considering tapping the US strategic oil reserve as it looks for a way to respond to skyrocketing oil prices, White House Chief of Staff Bill Daley said Sunday. During an interview on NBC's "Meet the Press," Daley said that "all matters have to be on the table." "The issues of the reserves is one we are considering," he added.
  • Geithner: We can tap oil reserves if we need them

    03/03/2011 2:12:01 PM PST · by afraidfortherepublic · 76 replies
    CNN Money ^ | 3-3-11 | Jennifer Liberto
    WASHINGTON ( -- Treasury Secretary Tim Geithner told lawmakers Thursday that the U.S. and other nations are prepared to tap back-up oil reserves if Libya unrest continues and severely disrupts oil supplies. Libya is the first oil exporting nation to be engulfed in the political upheaval spreading across North Africa and the Middle East, and investors have been worried that chaos in the region will drive crude prices even higher. Price spikes have followed increasingly violent protests in Libya that have claimed more than 1,000 lives, according to the United Nations. Libya's ambassador to the United States has estimated the...
  • US corn reserves hit lowest level in 15 years

    02/09/2011 9:29:41 AM PST · by NormsRevenge · 48 replies
    Yahoo ^ | 2/9/11 | Christopher Leonard and Sarah Skidmore - AP
    ST. LOUIS (AP) -- U.S. reserves of corn have hit their lowest level in more than 15 years, reflecting tighter supplies that will lead to higher food prices in 2011. Increasing demand for corn from the ethanol industry is a major reason for the decline. The U.S. Department of Agriculture reported Wednesday that the ethanol industry's projected orders this year rose 8.4 percent, to 13.01 billion bushels, after record-high production in December and January. That means the United States will have about 675 million bushels of corn left over at the end of year. .. roughly 5 percent of all...
  • Federal Reserve's 'astounding' report: We loaned banks trillions

    12/01/2010 6:28:22 PM PST · by Nachum · 29 replies · 1+ views
    Christian Science Monitor ^ | 12/1/10 | Mark Trumbull
    The Federal Reserve has lifted its veil of secrecy regarding special lending programs during the financial crisis, responding to a mandate from Congress by revealing the specifics of transactions with firms like Goldman Sachs and Citigroup. (Snip) The numbers are staggering, encompassing more than a dozen emergency programs set up starting in 2007 or 2008. In one program alone the Fed doled out nearly $9 trillion in funds to borrowers such as Morgan Stanley and Merrill Lynch, largely at interest rates below 1 percent.
  • Venezuela oil 'may double Saudi Arabia'

    07/14/2010 10:57:43 AM PDT · by OldDeckHand · 27 replies
    BBC ^ | 07/14/2010 | Staff
    A new US assessment of Venezuela's oil reserves could give the country double the supplies of Saudi Arabia.
  • Military Update: Pay raise approved for troops, but no cash for entitlements

    05/15/2010 7:06:50 AM PDT · by SandRat · 16 replies · 554+ views
    A House panel has voted to give the military a 1.9 percent pay raise next January. That would be a half percentage point higher than what the Obama administration wanted simply to match private sector wage growth. The House armed services subcommittee on military personnel panel also endorsed increases next year in hostile fire pay and family separation allowance, enough to restore the relative value of these payments to what they were in 2004 when they last were adjusted. But the same panel said the money tap is off for expanding entitlements to reserve personnel, disabled retirees or widows. “The...
  • Re-enlistment Ceremony Marks 102 Years for Army Reserve

    04/23/2010 6:24:06 PM PDT · by SandRat · 1 replies · 287+ views
    WASHINGTON, April 23, 2010 – To mark the 102nd anniversary of the U.S. Army Reserve, a hand-picked group of 60 reservists representing units in every U.S. state and territory re-enlisted together at a ceremony held today on Capitol Hill. U.S. Army Reserve soldiers stand in formation in the Kennedy Caucus Room of the Russell Senate Building, Washington, D.C., during the fifth annual U.S. Army Reserve National Capitol Re-enlistment Ceremony, April 23, 2010. Sixty U.S. Army Reserve soldiers from across the United States took part in the event marking the U.S. Army Reserves 102nd anniversary.   (Click photo for screen-resolution image);high-resolution image...
  • China's Appetite For High-Flying Gold To Dominate

    12/02/2009 7:41:04 PM PST · by blam · 3 replies · 309+ views
    Reuters ^ | 12-2-2009 | Chikako Mogi
    China's Appetite For High-Flying Gold To Dominate Wed Dec 2, 2009 4:30am EST By Chikako Mogi SHANGHAI, Dec 2 (Reuters) - Gold's successive run-ups to record highs are underpinned by hopes for central banks to further diversify reserves, particularly China's, a topic set to dominate a two-day industry gathering in Shanghai from Thursday. News that the central bank of India bought 200 tonnes of gold from the International Monetary Fund, about half of what was on offer, reinforced views that gold has established its status as an investment asset, as well as an alternative currency. The move also strengthened speculation...
  • AIG May Face An $11 Billion Shortfall In Insurance Reserves (AIG)

    11/30/2009 9:18:08 AM PST · by FromLori · 17 replies · 754+ views
    The Business Insider ^ | 11/30/09 | John Carney
    Wow. The disaster at AIG keeps getting worse. Today a Sanford C. Bernstein analyst released a note on his discovery that the insurer has an undisclosed $11 billion shortfall in reserves to pay property-casualty claims. Todd Bault said that AIG may have cut back on its use of reinsurance and become too "aggressive" in pricing workers' compensation and professional liability policies. As a result, AIG would likely have to take a huge reserve charge before it could sell its Chartis property-casualty business. “AIG shareholders and the federal government face considerably more uncertainty than they may have anticipated,” Bault wrote. For...
  • Gates Supports ‘Contiguous Training’ for Reserve Components

    11/19/2009 3:43:20 PM PST · by SandRat · 1 replies · 172+ views
    WASHINGTON, Nov. 19, 2009 – While admitting initial reservations, Defense Secretary Robert M. Gates told a National Guard conference today he sees benefits of a new plan that allows reserve-component servicemembers to conduct pre-deployment training before the clock starts ticking on their 12-month mobilization cycles. Defense Secretary Robert M. Gates speaks to nearly 2,400 participants in the first National Guard Joint Senior Leadership Conference in Washington, D.C., Nov. 19, 2009. DoD photo by Cherie Cullen  (Click photo for screen-resolution image);high-resolution image available. Gates told the National Guard Bureau Senior Leadership Conference he wasn’t initially a fan of the so-called “contiguous mobilization”...
  • FHA Is SOL

    11/13/2009 8:35:58 PM PST · by blam · 1 replies · 351+ views
    The Daily Reckoning ^ | 11-13-2009 | Ian Mathias
    FHA Is SOL By Ian Mathias 11/13/09 Baltimore, Maryland – Just as we forecast, the Federal Housing Administration revealed yesterday that it will likely need a government bailout. The results of an external audit (after being suddenly delayed for a week) showed the FHA’s capital cushion to be just 0.53% of its portfolio of insured mortgages. That’s way below the 2% mandated by Congress. In other words, the FHA has just $3.6 billion in reserves to back up a $679 billion book. That’s into the Fannie Mae stratosphere of leverage insanity, worse than anyone expected, and way, way beyond the...
  • Face of Defense: Former Draftee to Hang Up Uniform

    10/23/2009 4:44:32 PM PDT · by SandRat · 5 replies · 433+ views
    Face of Defence ^ | Jim Garamone
    WASHINGTON, Oct. 23, 2009 – The Army Reserve’s top enlisted soldier retires this month from an Army that’s vastly different from the one he was drafted into almost 40 years ago. Then-Army Staff Sgt. Leon E. Caffie points to a hit during Army Reserve training in Florida in the 1970s. Caffie is finishing his military career at the top enlisted soldier in the Army Reserve. Courtesy photo  (Click photo for screen-resolution image);high-resolution image available. "The Army Reserve has finally arrived," Command Sgt. Maj. Leon E. Caffie said. The Army has learned hard lessons, he added, and the Army Reserve now is...
  • Bernanke Gone Berserk! Bank Reserves Explode! Fed Money Printing Gone Wild!

    10/20/2009 6:09:00 PM PDT · by blam · 12 replies · 1,141+ views
    The Market Oracle ^ | 10-19-2009 | Martin D Weiss
    Bernanke Gone Berserk! Bank Reserves Explode! Fed Money Printing Gone Wild! Interest-Rates / Quantitative Easing Oct 19, 2009 - 08:18 AM By: Martin_D_Weiss Martin here with the most shocking new numbers I’ve seen in my lifetime. My conclusion: Fed Chairman Bernanke has dumped so much funny money into the U.S. banking system and has done so little to manage how that money is used, the fate of our entire economy has now been cast under a dark shadow of doubt. This is not conjecture or exaggeration. Nor are the underlying facts subject to debate. They are blatant, unambiguous, and fully...
  • Pentagon, governors face off over military reserve

    08/14/2009 8:27:28 AM PDT · by Califreak · 1 replies · 391+ views
    Google News ^ | 8/13/09 | LOLITA C. BALDOR
    AP article. Link only.
  • Reserve, Guard Team With Illinois Employers

    08/06/2009 4:44:57 PM PDT · by SandRat · 186+ views
    CHICAGO, Aug. 6, 2009 – The Army Reserve and National Guard signed partnership agreements with dozens of Chicago and Illinois state employers yesterday to enhance job opportunities for soldiers and veterans. Army Lt. Gen. Jack C. Stultz applauds Illinois Gov. Pat Quinn after Quinn's remarks at the Army Reserve Employer Partnership Initiative signing ceremony in Chicago Aug. 5, 2009. U.S. Army photo by Brian Kersey  (Click photo for screen-resolution image);high-resolution image available. “It is our duty to take care of veterans, who have answered the call to duty and bravely defended our country,” said Illinois Gov. Pat Quinn. “I salute Helmets...