08/24/16
Saudi Oil

OPEC’s Output Freeze: What Has Changed Since Doha?

It’s possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it’s also possible that they are ramping up production to take the sting out of a freeze. This is a delicate balancing act that the Saudis need to play very carefully.

The official chatter is that the OPEC meeting in Algeria from September 26 to 28 could conclude with an agreement to freeze production by the member nations, with even Russia joining forces in a freeze that may prevent further oil price erosion. But everyone’s a bit gun-shy after the false hopes of the last round in Doha—even if a freeze at levels that existed then wouldn’t have meant much either—and it’s hard to blame them. The question is, how many times can the Saudis cry wolf without forever losing the ability to leverage this chatter to affect a rise in oil prices?

But lets rewind a bit to the nature of the recent chatter. The Saudi Energy Minister has indicated that Saudi Arabia, OPEC’s largest producer, is willing to proceed with a production freeze.

“We are, in Saudi Arabia, watching the market closely, and if there is a need to take any action to help the market rebalance, then we would, of course in cooperation with OPEC and major non-OPEC exporters,” said Saudi Energy Minister Khalid Al-Falih, reports Reuters.

“We are going to have a ministerial meeting of the International Energy Forum in Algeria next month, and there is an opportunity for OPEC and major exporting non-OPEC ministers to meet and discuss the market situation, including any possible action that may be required to stabilize the market.”

The hopes of reaching an agreement in Doha were scuttled by Saudi Arabia, because it wanted its arch rival, Iran, to participate in the freeze. Unfortunately for oil prices, Iran had made it clear that it would not join any such discussion until they reached pre-sanction levels of oil production.

What has changed from Doha to Algeria?

Iran

Iran’s oil production is close to its pre-sanction levels, meaning that its first cited prerequisite for any discussion has now been met—a criteria that was not met at the time of the Doha meeting. In addition, increasing oil production further by Iran is a big ask—it would need billions of dollars worth of investments in both upstream and downstream facilities to make this happen. With oil prices languishing below $50 a barrel, major oil companies are reluctant to commit huge sums of money for new oil projects.

Iran’s oilfields are mature, and more than half of its wells have an annual decline rate of 9 percent to 11 percent, according to Michael Cohen, an analyst at Barclays in New York. Therefore, at their existing production levels, they need an additional 200,000 to 300,000 barrels a day annually to replace the shortfall from their aging wells.

Iran needs more money and investment to continue pumping at the current rate, making it more likely for Iran to agree to some kind of an arrangement where they continue to pump oil at a rate close to their target of 4 million barrels a day.

That said, the last thing that Iran wants is to be sidelined, so Tehran is bound to make its presence felt at the meeting with strong statements. But at the end of the day, it is unlikely that Iran will scuttle an agreement where it has everything to gain and nothing to lose.

“There may be a little bit more to it this time. I’m still very skeptical, but it’s just with Iran being where they are production-wise, they’ll be more inclined to eventually go along with a deal,” said Again Capital’s John Kilduff, reports CNBC.

Saudi Arabia

The oil-rich nation underestimated the resilience of the U.S. shale oil drillers when they declared war on them in 2014. American oil has not only kept flowing—the shale producers have managed to bring down production costs considerably. This ability was not anticipated by Saudi Arabia.

Meanwhile, Saudi Arabia has burned more than $175 billion in reserves since August 2014. The Saudis have introduced austerity measures and plans to monetize their crown jewel Saudi Aramco to survive the oil downturn. Nevertheless, things are not going well for this nation, which youth is struggling to find jobs as shown in the chart below.

IMG URL: http://cdn.oilprice.com/images/tinymce/2016/Oil%20Graphs%201.png

A large population of unemployed youths who cannot take care of their families can sow seeds of frustration, and the Arab Spring will still be fresh in the memory of the rulers.

Saudi Arabia is struggling to grow in this oil downturn. Barring the 2009 dip, the current growth rate of 1.5 percent is the worst in a decade, according to data compiled by Bloomberg.

IMG URL: http://cdn.oilprice.com/images/tinymce/2016/Oil%20Graphs%202.png

If oil prices remain low, the Saudi plan to sell shares in Saudi Aramco might not fetch them the valuations they expect, and a nation that cannot provide the most basic of amenities—food for its foreign workers—says a lot about their financial condition.

Saudi Arabia has seen the recent slide in crude oil prices towards the $40/barrel mark, which could have gone deeper without the chatter of a production freeze. And since they have already cried wolf once in Doha, doing so again in Algiers decrease the importance of any ‘chatter’ leverage they have in the future.

Rest of the nations already onboard

Barring Iran and Saudi Arabia, the rest of the nations were in agreement about the need to freeze production during the Doha meeting.

From OPEC to Russia, everyone is at record production levels

The oil-producing nations want to ensure that even if there are talks of a production freeze, they should not feel the pinch. Hence, even before the meeting, they will try to produce more, rather than less. The recent ramping up may very well be an indication that a freeze—although at a level higher than what would have likely come out of the Doha meeting—may be on the horizon.

The oil markets are so sensitive that even a statement of agreement by OPEC at the end of the meeting is enough to send oil prices flying above the resistance level of $51 a barrel.

What about the shale oil producers?

Though U.S. production is declining and experiencing a flurry of bankruptcies, the remaining companies are much better positioned to continue pumping at lower levels to survive the downturn.

Though the risk remains that the shale oil drillers will come back in full force when oil prices recover, the risk is worth taking. OPEC and Russia have realized that any new world order will have to include the shale oil companies. They are a large enough force not to be neglected or defeated.

With all of this in mind, an agreement between OPEC and Russia is more feasible in Algiers than it was in Doha. It might not mean much though, with output levels soaring ahead of the meeting. A freeze at current levels—or levels reached by the time of the meeting—won’t do much to change the fundamentals, nor is there any indication that a freeze would have long legs.

Link to original article: https://oilprice.com/Energy/Energy-General/OPECs-Output-Freeze-What-Has-Changed-Since-Doha.html

By Rakesh Upadhyay for Oilprice.com

08/9/16
OilPrice.com

Surprise Natural Gas Drawdown Signals Higher Prices Ahead

The U.S. electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected.

The EIA reported a surprise drawdown in natural gas inventories for the week ending on August 3. The reduction of 6 billion cubic feet (Bcf) was the first summertime drawdown since 2006. Natural gas spot prices shot up following the data release on August 4, although they fell back again shortly after.

Natural gas consumption patterns are much more seasonal than for oil. Demand tends to spike in the winter due to heating needs, and then drops substantially in the intervening months, particularly in the spring and fall. Between March/April and October/November, natural gas inventories build up as people need less heating, and that stockpiled gas is then used in the next winter.

So it comes as a surprise that after a record buildup in inventories this past winter, the summer has seen a much lower-than-expected buildup in storage. And last week’s drawdown, the first in over a decade during summertime, says quite a bit about the shifting energy landscape. The EIA says this is the result of two factors: higher consumption from electric power plants, and a drop off in production.

The U.S. is and has been in the midst of an epochal transition from coal-fired electricity to natural gas and renewables, a switch that will take many more years to play out. But the effects are already showing up in the power generation mix. Utilities have rushed to build more natural gas power plants over the past decade, and now with so many online, demand for gas has climbed to new levels.

Just a few weeks ago, on July 21, the U.S. burned through 40.9 billion cubic feet, the highest volume on record, according to the EIA. And in late July, the power burn exceeded 40 Bcf/d three times due to a hot weather. Nine of the ten highest power burn days on record took place last month, with the other one occurring in July 2015. Average consumption of 36.1 Bcf/d in July of this year was 2.7 Bcf/d higher than a year earlier, and 1.5 Bcf/d higher than the previous high reached in July 2012.

IMG URL: http://cdn.oilprice.com/images/tinymce/2016/Nick0508A.png

The high rates of consumption from the electric power sector are contributing to tepid growth in inventories this summer. This comes on the heels of a massive buildup in inventories last winter, and heading into summer the expectation was that huge storage levels would keep natural gas prices at rock bottom levels, perhaps for years. But that doesn’t look like it will come to pass.

While high demand is keeping natural gas from being diverted into storage in large amounts, the other main reason that natural gas inventories are not building up as much as previously thought is because of a supply-side issue: natural gas production is actually falling after years of steady increases. Natural gas prices have traded below $3 per million Btu since the beginning of 2015. U.S. gas drillers continued to ratchet up production through 2015, however, creating this past winter’s inventory glut. But the resulting downturn in prices has now made drilling unprofitable in many areas. On top of that, the oil price crash has ground oil drilling to a halt, which means that the natural gas produced in association with oil has also come to a standstill. The upshot is that natural gas production is now falling in the United States. The Marcellus Shale, the most prolific shale gas basin in the country, saw production peak in February at 18.5 Bcf/d. Since then output has declined 3 percent. In August, the EIA expects gas production from the Marcellus to fall by another 26 million cubic feet per day.

IMG URL: http://cdn.oilprice.com/images/tinymce/2016/Nick0508B.png

Of course, this stuff is cyclical. The first summer drawdown in inventories in a decade means that natural gas markets are now tighter than many analysts thought only a few months ago. Falling production and rising demand could lead to steeper drawdowns in inventories this coming winter. The effect of that will be to push up spot prices, which could induce more drilling once again.

Original article: http://oilprice.com/Energy/Heating-Oil/Surprise-Natural-Gas-Drawdown-Signals-Higher-Prices-Ahead.html

By Nick Cunningham of Oilprice.com

08/4/16
OilPrice.com

Today’s Downturn Sets Markets Up For A Dramatic Oil Price Spike

Another oil price downturn threatens to deepen the plunging levels of investment in upstream oil and gas production, which could create a more acute price spike in the years ahead.

Oil and gas companies have gutted their capex budgets, necessary moves as drillers went deep into the red following the crash in oil prices. But the sharp cutback in investment means that huge volumes of oil that would have otherwise come online in five or ten years now will remain on the sidelines.

The industry will cut spending by $1 trillion through 2020, according to Wood Mackenzie. Those reductions are creating a “ticking time bomb” for oil supply. The consultancy projects that the market will see 5 million barrels of oil equivalent per day (mboe/d) less this year, compared to expectations before the collapse of oil prices. And next year, the industry will produce 6 mboe/d less than it otherwise would have had the spending cuts not been made.

This is creating the conditions for a supply crunch and a price spike. The reason is simple: demand continues to rise by some 1.2 million barrels per day each year, but supplies are no longer growing because of the spending cuts. That is not a problem today as production still slightly exceeds demand and high levels of crude oil and refined products sit in storage. But by as early as the end of 2016 the oil market could tip into a supply deficit. And because the industry has scaled back so intensely on capex, global supplies could fall short of demand for quite a while. The end result could be a dramatic price spike.

This scenario has been described before by Wood Mackenzie, which published an estimate earlier this year that put the total value of cancelled projects over the past two years at $380 billion, projects that would have yielded 27 billion barrels of oil and gas.

So far, the markets are not pricing in the brewing supply crunch. Oil prices continue to fall, and speculators have taken the most pessimistic position in months, selling off long bets and buying up shorts.

Oil analysts and forecasters do not see a rapid rise in prices either. A Bloomberg survey of 20 analysts revealed a median price forecast of just $57 per barrel in 2017. No doubt that record levels of inventories are on their minds – even if oil production itself flips into a supply/demand deficit, it could take years to work through storage levels.

“We’re looking at a market that’s still in a very slow process of rebalancing and we don’t think that you’ll get a sustainable deficit until the second quarter of 2017,” Michael Hsueh, a strategist at Deutsche Bank AG, told Bloomberg. “Those deficits are necessary to draw down global inventories, but that will still take until the end of 2018, it appears.”

But the swing from surplus to deficit could be more dramatic than many think. Now that oil is once again entering a bear market, with WTI and Brent dropping to $40 per barrel, the industry could be forced to slash spending even deeper than it already has, leaving even more oil reserves undeveloped. And in any case, it is possible that high storage levels and the two-year production surplus is leading to a myopic view of the future – just because the markets are oversupplied today does not meant that they will in several years’ time.

Wood Mackenzie says that while U.S. shale has been the hardest hit by the steep fall in investment, the shale industry will be the first to bounce back because of the short-cycle nature of shale drilling. The price spike will lead to a resurgence in shale, and Wood Mackenzie is predicting that shale production doubles from the 2015 high-watermark of 4.5 million barrels per day to 8.5 mb/d by the mid-2020s.

But that is a long way off for oil executives dealing with deteriorating balance sheets and rising debt levels.

Link to original article: http://oilprice.com/Energy/Energy-General/Todays-Downturn-Sets-Markets-Up-For-A-Dramatic-Oil-Price-Spike.html

By Nick Cunningham of Oilprice.com

06/15/16
OilPrice.com

Uranium Prices Set To Double By 2018

With prices set to double by 2018, we’ve seen the bottom of the uranium market, and the negative sentiment that has followed this resource around despite strong fundamentals, is starting to change.

Billionaire investors sense it, and they’re always the first to anticipate change and take advantage of the rally before it becomes a reality. The turning point is where all the money is made, and there are plenty of indications that the uranium recovery is already underway.

It’s been a very tough few years for uranium. But it now looks like we’ve reached the bottom, and the future demand equation says there’s nowhere to go but up—significantly up.

Uranium analyst David Talbot of Dundee Capital Markets is forecasting 6 percent compound annual demand growth through 2020, which is enough, he says, to “kick-start” uranium prices up to and beyond 2007 levels. Morningstar analyst David Wang predicts prices will double within the next two years.

Mining Weekly expects “the period from 2017-2020 to be a landmark period for the nuclear sector and uranium stocks, as the global operating nuclear reactor fleet expands.”

“It’s impossible to find another natural resource that is so fundamentally necessary and yet has carried such negative sentiment as uranium. The market has been skewed by negative sentiments that ignore the supply and demand fundamentals,” says Paul D. Gray, President and CEO of Zadar Ventures Ltd., a North American uranium and lithium explorer.

But the toxicity levels have dissipated, and nuclear energy is rebounding as a cleaner power source with next generation safeguards. The fundamentals are again ruling the day, and this will be the key year for uranium,” Gray told Oilprice.com.

Why Sentiment is Changing: Born in Chernobyl, Raised in Japan

The negative sentiment on uranium was largely made in Japan. The 2011 disaster at Fukushima created an irrational disconnect between sentiment and uranium fundamentals.

Now that enough time has passed since Fukushima, this negative sentiment is losing steam as it appears that Japan has succeeded in bringing some of its reactors back online – four of its reactors have already restarted operations. So the world is refocusing on what are arguably brilliant fundamentals, which actually have been there all along.

First and foremost, the world is building more nuclear reactors right now than ever before, despite Fukushima. A total of 65 new reactors are already going up, another 165 are planned and yet another 331 proposed.

Powering all of these developments will require an impressive amount of uranium. Right now, existing nuclear reactors use 174 million pounds of uranium every year. That will increase by a dramatic one-fifth with the new reactors under construction. But in the meantime, uranium producers have reduced output due to market prices and put caps on expansion. As a result, supplies are dwindling.

Currently, the world is increasingly recognizing nuclear energy as the cheaper, cleaner, and greener option—as indicated by the number of reactors being built.

As the specter of nuclear accidents wanes in the aftermath of Fukushima and climate change fears move to the top of the chain, uranium is set for a global sentiment transformation.

As Scientific American opines, “Nuclear energy’s clean bona fides may be its saving grace in a wobbling global energy market that is trying to balance climate change ambitions, skittish economies and low prices for oil and natural gas.”

According to Bloomberg, in Asia alone, approximately $800 billion in new reactors are being developed.

The market hasn’t quite caught on yet to what this massive nuclear development means for uranium because it’s still stuck in the Fukushima sentiment–but the cracks are showing and it’s about to break free.

At the same time, the uranium industry is not producing the uranium needed to feed the hundreds of new reactors slated to come online. Not even close. The uranium is not being produced because producers can’t turn a profit at today’s spot prices.

The minute the market catches on to the massive amount of reactors coming online combined with the pending uranium supply shortage, uranium will experience a price surge like no other commodity before it.

Up to 20 percent of the uranium supply needed to operate the world’s existing 437 nuclear reactors for the rest of this year and next is not covered, according to uranium market analyst David Talbot.

The market has recognized the pending lithium boom, for instance, as heralded by the electric vehicle (EV), battery storage and powerwall push. But the market is sleeping when it comes to uranium, which has even more obviously bullish fundamentals. That’s why when this sleeping giant awakens suddenly with the start-up of new reactors around the world, it will be with a roar that rewards those savvy enough to sneak around the irrational sentiment.

Determining when the break-out will come, exactly, is part and parcel of playing this rally with an eye to massive returns (for which you can thank the negative sentiment if you’re already onto uranium). But all bets are that this year we’ll see the first new reactors come online, and then it will snowball from there, transforming from a buyers’ market into a sellers’ market.

The Billionaires’ Sixth Sense

Billionaire investors are lining up behind uranium with major acquisitions, betting that they are on the edge of a price break-out.

Earlier in June, Hong Kong billionaire investor Li Kashing, though his CK Hutchinson Holdings and CEF holdings, said he would buy $60 million in convertible bonds from NexGen Energy targeting uranium projects in Canada’s Saskatchewan province.

“The current spot prices seem low, but the fundamentals indicate there’s going to be a very large demand and supply gap — that’s what you’re making a call on,” NexGen CEO Leigh Curyer said of the deal. NexGen is slated to start production in the 2020s.

Mr. Li’s $60-million bet on Saskatchewan uranium is near another uranium company, Zadar Ventures Ltd, which has four projects in Saskatchewan and one in Alberta, and stands to benefit from the high-dollar renewed focus on this resource.

The Athabasca Basin is elephant country in terms of uranium deposits. It represents the world’s highest-grade uranium deposits and is the home to all of the major uranium producers, developers and explorers.

If your going to look for the world’s next uranium mine, the Athabasca Basin is the place to do so.

Considering that nearly half of the U.S.’ 57 million pounds of uranium imports last year came from Canada and Kazakhstan, with Canada providing 17 million pounds—these producers are extremely well-positioned for what comes next.

Talbot predicts that the Uranium pound price could reach $65 within two years, and notes that some mines will be extremely profitable at this price—particularly those in the Athabasca Basin and in the western and southwestern U.S., while development of uranium deposits in Africa will require higher prices.

The Athabasca Basin is precisely where Zadar and NexGen operate, along with other promising contenders, including Cameco Corp. (TSX:CCO) and Denison Mines Corp. (DML:TSX).

Last month, billionaire D.E. Shaw let us all know that he’d acquired 1.4 million shares in Cameco, eyeing rising uranium prices, tightening supplies and growing demand—and joining the ranks alongside George Soros. And others have lined up, too, including well-known money managers Ken Griffin, Ray Dalio and Steve Cohen.

Then we have Bill Gates—who has jumped on the uranium bandwagon with great determination. Through his TerraPower company, Gates is developing a Fourth Generation nuclear reactor that would run on depleted uranium, rather than enriched uranium.

Increasingly, this is shaping up to be the the Year of Uranium, but while the market sleeps, big investors don’t: They’ll be all set when uranium experiences a violent upswing, and those operating around the Athabasca Basin are likely to be among the first to benefit from the upward price trend and shrinking supply.

http://oilprice.com/Energy/Energy-General/Uranium-Prices-Set-To-Double-By-2018.html

By. James Stafford of Oilprice.com

06/1/16
Saudi Oil

3 Years Of Painful Cuts Sets Markets Up For Serious Supply Crunch

Total global oil production could decline for the next several years in a row as scarce new sources of supply come online.

According to data from Rystad Energy, overall global oil output will fall this year as natural depletion overwhelms all new sources of supply. But the deficit will only widen in the years ahead due to the dramatic scaling back in spending on new exploration and development.

Statoil says that global capex is set to fall for two years in a row, and is on track to fall for a third year in 2017 as more spending cuts are likely. “For the first time in history, we’ve seen cutting of capex two years in a row and potentially we risk a third year as well for 2017,” Statoil’s Chief Financial Officer Hans Jakob Hegge told Bloomberg in a recent interview. “It might be that we see quite a dramatic reduction in replacing the capacity and of course that will have an impact, eventually, on price.”

Oil companies are making painful cuts to spending, which will translate into much lower production than expected in the years ahead.

Although markets have dealt with the supply overhang for the better part of two years, the surplus could flip to a deficit as early as this year, as declines exceed new sources of production by a few hundred thousand barrels per day. That widens to more than a million barrels per day in both 2017 and 2018. To be sure, there are extremely large volumes of oil sitting in storage, which will take a few years to work through. That will prevent any short-term price spike even if depletion surpasses new production. But Statoil’s CFO said the world could start to see supply problems by 2020.

According to a separate report from SAFE, a Washington-based think tank, the oil industry has cut somewhere around $225 billion in capex in 2015 and 2016, which will lead to global supplies 4 million barrels per day lower in 2018-2020, compared to what market analysts expected as of 2014.

Of course, these figures are not inevitable. A sharp rise in oil prices would spur new investment and new drilling. In other words, deficits create profit opportunities for drillers, ushering in new supplies. The price acts as a self-correcting mechanism.

The problem is that, unlike many other industries, resource extraction is extremely volatile, with supply responses very delayed. Many oil projects, after all, take years to develop. Supply overshot demand, crashed prices, and in response, supplies will undershoot demand in the next few years. The industry has always suffered from booms and busts, and there is little reason to think that it will change, at least in the short run.

But we tend to have a myopic view on what to expect. When oil prices go up, people buy fuel efficient cars. When they go down, SUVs are back in style. When the world is dealing with too much supply, market watchers predict oil prices will stay low for years to come. If spot oil prices suddenly rise, forecasts are revised sharply upwards.

Here’s another example: the WSJ reports that oil prices are entering a “sweet spot,” a range between $50 and $60 per barrel that could finally be good for the global economy – low enough to provide consumers with a bit of a stimulus, but high enough to keep the industry and capital spending afloat. Also, crude at $50, as opposed to $30, can provide a bit of inflation to the deflation-beset economies in Europe and Japan. “Crude between $50 and $60 would be the absolute sweet spot,” Mark Watkins, regional investment manager at U.S. Bank Wealth Management, told the WSJ. “Everybody wins there.”

That is all well and good, but who expects oil to trade between $50 and $60 for any lengthy period of time? If there is one thing that we have learned over the past two years, it is that nobody has a crystal ball on prices. And if the industry indeed cuts capex for three consecutive years, at a time when demand continues to rise, the one thing we can be sure of is more volatility.

Link to original article: http://oilprice.com/Energy/Crude-Oil/3-Years-Of-Painful-Cuts-Sets-Markets-Up-For-Serious-Supply-Crunch.html

By Nick Cunningham of Oilprice.com

05/5/16
Donald Trump

Our Watcher’s Council Nominations – Post-Constitutional Edition

The Watcher’s Council

Donald Trump

Welcome to the Watcher’s Council, a blogging group consisting of some of the most incisive blogs in the ‘sphere and the longest running group of its kind in existence. Every week, the members nominate two posts each, one written by themselves and one written by someone from outside the group for consideration by the whole Council. Then we vote on the best two posts, with the results appearing on Friday morning.

Council News:

This week we were sad indeed to say goodbye to long-time Council member Brent Parrish at The Right Planet.

Brent is taking a hiatus from blogging to concentrate on family and business concerns, and all of us wish him the best. And of course, as a plugged in member of the WoW community, we’ll look forward to hearing from him in the future in our Forum, our inter-Council threads and perhaps, even an article as a non-council submission if he gets the bug to write again, which we certainly hope he will.

This means we currently have a vacancy on the Watcher’s Council, the oldest and most established blogging group in the ‘sphere. Any talented, interested parties should contact me directly by leaving a comment on any story on JoshuaPundit, including your name, site name and e-mail info as well as anything else you wish to include. Needless to say, it won’t be published, but I will respond promptly to your inquiry and tell you what’s involved.

So, let’s see what we have for you this week…

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05/1/16
Washington2

The Council Has Spoken! Our Watcher’s Council Results – 05/01/16

The Watcher’s Council

Study

Crap

Washington

Washington1

Washington2

The Council has spoken, the votes have been cast and the results are in for this week’s Watcher’s Council match-up.

As an American liberal with impeccable credentials, I would like to say that political correctness is going to kill American liberalism if it is not fought to the death by people like me for the dangers it represents to free speech, to the exchange of ideas, to openheartedness, or to the spirit of art itself. – Best selling author Pat Conroy

Those who make conversations impossible, make escalation inevitable. – Stephen Molyneux

The idea that you have to be protected from any kind of uncomfortable emotion is what I absolutely do not subscribe to. – John Cleese

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04/28/16
Obama

Our Watcher’s Council Nominations: Secrets To Hide Edition

The Watcher’s Council

Obama

Welcome to the Watcher’s Council, a blogging group consisting of some of the most incisive blogs in the ‘sphere and the longest running group of its kind in existence. Every week, the members nominate two posts each, one written by themselves and one written by someone from outside the group for consideration by the whole Council. Then we vote on the best two posts, with the results appearing on Friday morning.

So, let’s see what we have for you this week…

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04/24/16
Tubman1

The Council Has Spoken!! Our Watcher’s Council Results – 04/24/16

The Watcher’s Council

Tubman1

Tubman1

Tubman2

Tubman3

Tubman4

The Council has spoken, the votes have been cast and the results are in for this week’s Watcher’s Council match-up.

Holly came from Miami F.L.A.
Hitch-hiked her way across the U.S.A.
Plucked her eyebrows on the way
Shaved her legs and then he was a she… – Lou Reed, Walk On The Wild Side

All men are liars, said Roberta Muldoon, who knew this was true because she had once been a man. – John Irving, The World According to Garp

Facts do not cease to exist because they are ignored. – Aldous Huxley

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04/24/16
Trading

Predictions of a Trading Apocalypse Are Grossly Exaggerated

By Chris Knowles

Apocalípico I by Mauricio Garcia Vega (artist) – Source/Photographer Mauricio Garcia Vega. This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

Apocalípico I by Mauricio Garcia Vega (artist) – Source/Photographer Mauricio Garcia Vega. This file is licensed under the Creative CommonsAttribution-Share Alike 3.0 Unported license. Obtained from Commons.Wikimedia.

The Sky is Falling!

There are dire predictions of a trading apocalypse if Britain acts in its best interests and leaves the EU. That is if the hysterical campaign to remain in that undemocratic and economically fragile political grouping is to be believed.

The doom and gloom Remain crowd are now wheeling out globalist after globalist to scare Brits into submitting to EU rule. The people behind pointless wars, biblical scale migrations, financial disasters and undermining cherished freedoms are currently on the march again.The latest of these political ‘celebrities’ is Presidential wannabe Hillary Rodham Clinton.

It is obviously very clear that the globalists who seek to oppress us defiantly want the us Brits to remain as inmates in the open prison also referred to as the European Union – with no prospect of reprieve or parole.

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