Take this oil and shove it!
Canadian oil will flow to Chinese, who want it, rather than to ObamaLand, which doesn’t.
CALGARY—Kinder Morgan Energy Partners LP said Thursday it will begin a $5 billion expansion of its Trans Mountain pipeline, nearly tripling the capacity of crude oil it can ship to Canada’s west coast—the latest project aimed at moving the country’s rising oil production to markets outside the U.S.
Currently, almost all Canadian crude exports travel to the U.S. While Canadian oil output has been rising fast, pipeline capacity to move it from the country’s biggest oil patch in landlocked Alberta to U.S. refining markets is stretched.
The resulting glut, and climbing oil production in the U.S. itself, has depressed prices for Canadian crude. Canadian government officials, meanwhile, have ratcheted up support for westward-flowing pipelines to diversify away from the U.S. That effort accelerated after the White House earlier this year rejected a big pipeline-expansion project, TransCanada Corp.’s Keystone XL, which would have sent more Alberta crude south of the border.
The Trans Mountain line already ships a small amount of crude to Vancouver from Alberta. The expansion will increase that volume to 850,000 barrels a day from 300,000 barrels a day. The boost will allow Asian buyers to load Canadian crude in significant volumes in Vancouver and ship it across the Pacific in tankers. The project also envisions an expansion at the pipeline’s terminal in Vancouver, which will allow more tankers to take on oil.
U.S. President Barack Obama has said he is open to reviewing Keystone XL again, if TransCanada reapplied for a permit. A decision wouldn’t be made, though, before this year’s presidential election. Late last month, the government of Canadian Prime Minister Stephen Harper said it would streamline regulatory reviews of big energy and mining projects meant to move resources to markets. Mr. Harper and other Canadian officials have said they want to open up new markets for Canada’s resources in China and Asia, instead of relying on the U.S. as its biggest buyer.
1 Little Cove Lane in Old Greenwich is back on the market asking exactly what it sold for in July, 2010; $4.195 million. Built in 1999, good location, 5,000 sq. ft. with nothing added or subtracted since 2010, when it fetched full price after just twelve days. I’m making no predictions, I’m just curious to see how it fares.
See ya, suckers!
SEC charges Ephren Taylor and Citi Capital with running an $11 million Ponzi scheme.
The Securities and Exchange Commission filed civil charges against City Capital Corp. and two former executives for allegedly running an $11 million Ponzi scheme that targeted socially conscious investors in church congregations.
The government alleges Ephren W. Taylor II, 29 years old, made numerous false statements to lure investors into two investment programs being offered through City Capital, where he was the chief executive and chairman until Oct. 22, 2010, when he abruptly resigned. Taylor’s current whereabouts are unknown and his last known residence was in New York City, the SEC said.
The SEC claims Mr. Taylor and City Capital—a Nevada corporation with its last-known headquarters in Cypress, Calif.—offered two primary investments: promissory notes to purportedly fund various small businesses and interests in so-called sweepstakes machines.
In addition to promising high rates of return, Mr. Taylor allegedly said investors’ money would go toward charitable causes and economically disadvantaged businesses.
So he forgot to mention that his favorite charity and economically disadvantaged business was himself – since when is that a crime on Wall Street?
Obummer, last week; “We didn’t have the luxury for [Michelle] not to work”.
In 2005, when Obama began serving in the U.S. Senate (and his daughters turned 4 and 7), he and his wife were earning a combined annual income of $479,062. Barack Obama was paid a salary of $162,100 by the U.S. taxpayers, and Michelle Obama was paid $316,962 to handle community affairs for the University of Chicago Medical Center.
In 1983, when I earned $23,000 as a lawyer and Pal Nancy earned $25,000 as a physician recruiter, we decided to move from Maine to Greenwich and have Nancy stay home to raise our newborn John. So we cut our income in half and easily doubled our cost of living. That was a choice we made, Mr. President. You and Michelle made a different choice, and that’s a decision I have absolutely no opinion on. But for you to claim that, on a combined income of $479,000, having one of you stay at home to raise your children would have been an unaffordable luxury is disgusting and absurd. I wonder how this will play outside the Democrat 1%?
11 Brownhouse Road, Old Greenwich, reported under contract last January, sold today for full asking price, $2.025 million. Sellers paid $1.665 for it in July, 2009 and did nothing to it, so they made out well.
DoJ’s antitrust suit against Apple predicted to fail. I like my Amazon Kindle a lot, but I also thought Apple’s breaking Amazon’s monopoly on e-books was a good thing for me as a reader and, I hope, as a writer. More competition is better than less, no? So why this suit?
Hilary Rosen apologizes to Ann Romney:
Let’s put the faux ‘war against stay at home moms’ to rest once and for all. As a mom I know that raising children is the hardest job there is. As a pundit, I know my words on CNN last night were poorly chosen. In response to Mitt Romney on the campaign trail referring to his wife as a better person to answer questions about women than he is, I was discussing his poor record on the plight of women’s financial struggles. Here is my more fulsome view of the issues. As a partner in a firm full of women who work outside of the home as well as stay at home mothers, all with plenty of children, gender equality is not a talking point for me. It is an issue I live every day. I apologize to Ann Romney and anyone else who was offended. Let’s declare peace in this phony war and go back to focus on the substance.
“Fulsome” is defined, at least by those of us outside the Beltway, as :
Offensively flattering or insincere. See Synonyms at unctuous
2. Offensive to the taste or sensibilities.
Rosen makes a living charging for this stuff?
Be stupid, be happy!
Fracking has US on course to reduce greenhouse emissions 12%, lower than that demanded by the (rejected) Kyoto accord.
With decade-low prices, natural gas is easing out coal in power generation, a change that cuts greenhouse gases by half at the smokestack. That shift, combined with state programs to encourage renewable energy and new rules from the Environmental Protection Agency that could come as early as today, has put the country on course to cut domestic greenhouse-gas emissions 12 percent by 2020, on par with what the failed cap-and-trade legislation aimed to achieve, said Dallas Burtraw, a fellow at Resources for the Future in Washington.
Carbon emissions from energy in the U.S., the largest source after China, probably will stay below the record level of 6 billion metric tons set in 2007 for the next 23 years, the U.S. Energy Information Administration predicted Jan. 23, the first time it forecast a long-term reduction.
The story in the U.S. is in contrast to China, India, Mexico and Russia, where demand for carbon-dependent cars and electricity is surging, leaving the planet on a course for unsustainable warming, according to a report by the Massachusetts Institute of Technology’s Global Change Program.
I see that a spec home cut its price today, from $6.8 millionish to around $6.4 and that got me curious about how many homes are in the $6-$7 million range. Turns out there are twenty-four and reviewing them, I couldn’t find one that had really decent land (with the exception of 23 Cliffdale, which is nothing but land – 9 acres of great meadow and a garage, but that far west, for that price? Forget it). It’s possible that these two dozen homes will find buyers who don’t care about the quality of the land the house sits on but that’s not been my experience with my own clients. I find that people expect more than a big house, no matter how nicely finished, for this kind of money. I could be representing just an odd handful of buyers with unrealistic expectations but I don’t think so. If my guys are typical, the developers who crammed big expensive houses on marshy, marginal land in bad locations are not going to sell for what they’d hoped for.
Fit for a (deaf) Czar
605 North Street is back again, still unsold, still asking a whopping-big price: $9,988,000 this time, down from its 2004 price of $12 million but still er, “impractical”.
If you like this type of house well then, there’s plenty of it here for you to enjoy. The problem lies not so much with its garishness – that’s never been a hinderance in selling Greenwich real estate since the Siwanoys painted that big boulder blue and sold Tod’s Point to the Pilgrims – but its location, directly across from the Merritt Parkway.
I showed it to one client some years back and he liked the place (I bit my tongue) but said, “I’m not paying nine million dollars to wear earplugs in my back yard” and I think it’s obvious he has company in that regard. This palace has been on and off the market (it’s been rented occasionally) since it was built in 2004 and no one has ever wanted it (athough there was a reported contract back in November 2004 that disappeared along with the buyer – rumor was that he was a Russian who, after signing the contract returned to Moscow to check on his holdings and has been a guest of Putin in Siberia ever since. Barring his early release for good behavior, I doubt he’ll be coming back).
This is one example where even a lower price probably won’t yield a quick solution: the original house that sat on these two acres was a modest ranch that was priced at $1.395 million in 1994 and didn’t sell until February 1999, for $1.125. 1,183 DOM. The current house has exceeded that time span and will probably keep extending the record.
The Democrat strategist has obviously been retained to help Kentucky Fried Chicken market its wares in Thailand and yesterday masterminded a new ad campaign, run while Thais were scrambling to escape a feared tidal wave, with the slogan, ” Let’s hurry home and follow the earthquake news. And don’t forget to order your favorite KFC menu”. That’s going down in Thailand about as well as a lesbian telling American stay-at-home moms that they don’t have “real” jobs.
I don't get it!
New unemployment claims “unexpectedly” rise. Green State Oregon sees biggest spike, Texas enjoys greatest drop in the nation. How could that be?
Worries that US and European shale gas threatens Russia’s oil hegemony. Useful idiots from around the globe are flocking to Moscow to receive their orders.
Which at that price range isn’t unusual – there are a lot of rocks to be turned over before you find this fat a wallet. 549 Indian Field Road looked pretty tired to me and someone’s either looking at some major long-haul renovations or starting new, but hey, it’s Mead Point – I’d like it and someone who can back up his likes with the funding to satisfy them has stepped up with a contract. Listing agent Jill Kelly also found the buyer, which makes for a jolly April in the Kelly household.
13 Huntzinger Drive was purchased for $4.050 million in 2002, renovated and placed back up for sale in 2010 for $3.950. After two years without success, the price was dropped to $3.250 this past March 27th and now has a buyer. 1.2 + acres, pool, good looking house and close to town.
Raise five children while battling multiple sclerosis and cancer? You’ve never worked a day in your life – it’s not like you were a community organizer, for instance, or had a $300,000 a-year no-show job given you as the wife of an Illinois politician. Should be a fun campaign.