![]() | The Economics of Oil, Part II: Peak Oil and the Energy Supply Curve | The Oil Drum | Declining Net Oil Exports Versus “Near Record High†Crude Oil Inventories: What is going on? | ![]() |
The contents below are paid advertisements. Their appearance does not imply an endorsement by The Oil Drum.
“He that will not apply new remedies must expect new evils, for time is the greatest innovator.”
—Francis Bacon, Essays
Search The Oil Drum with Google
User login
Contact
- Content: editors at theoildrum dot com
- Tech support: support at theoildrum dot com
Personnel
- Editors: Prof. Goose, Heading Out, Stuart Staniford, Nate Hagens
- DrumBeat Editor: Leanan
- Contributors: ace, Engineer-Poet, Gail the Actuary, jeffvail, JoulesBurn, Khebab, Robert Rapier
- TOD:Local: Glenn
- TOD:Europe: Chris Vernon, Euan Mearns, Francois Cellier, Jerome a Paris, Luís de Sousa, Rembrandt, Rune Likvern, Ugo Bardi
- TOD:Canada: benk, Libelle
- TOD:ANZ: Big Gav, Phil Hart, aeldric
- Technician: Super G
Recently on TOD:World
TOD:Local
- Ask not what your next President can do, Ask what you can do for your tribe
- Summer Streets a Success!
- Plan for Hydro-Fracture Drilling for Unconventional Natural Gas in Upstate New York
TOD:Europe
- RAMseS: a new agricultural paradigm
- RAMseS: a new agricultural paradigm
- The First Wave Energy Farm of the World...It's About Time...
TOD:Canada
- In this house, we obey the laws of thermodynamics!
- Compressed Air Energy Storage - How viable is it?
- Oil Megaproject Update (July 2008)
TOD:ANZ
Peak Oil Primers
Blogroll
Energy Sites
- The Coming Global Oil Crisis
- Die Off
- Dry Dipstick
- Energy Bulletin
- From the Wilderness
- Life After the Oil Crash
- Peak Oil Crisis
- Peak Oil News and Message Boards
- Powerswitch
- Rigzone
- Matthew Simmons
- Wolf at the Door
Environment & Sustainability Sites
- The Daily Green
- EcoGeek
- Eco Street
- Green Car Congress
- Green Options
- green.alltop.com
- Gristmill
- RealClimate
- Sustainablog
- Treehugger
- WorldChanging
Blogs
- The Big Picture
- Casaubon's Book
- Cleantech Blog
- Clusterf
k Nation (Jim Kunstler) - The Cost of Energy
- David Strahan
- The Energy Blog
- Entropy Production
- European Tribune
- GraphOilology
- jeffvail.net
- Mobjectivist
- Peak Energy (Australia)
- Peak Energy (USA)
- R-Squared
- Resource Insights
Finance & Economics Blogs
- Calculated Risk
- Ecological Economics
- Econbrowser
- Environmental Economics
- Infectious Greed
- The Mess That Greenspan Made
- Mish's Global Economic Trend Analysis
Organizations
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.







GAIA Host Collective
A new Round-Up has been posted at TOD:Canada.
Today's Round-Up focuses on disappearing acts. First, out of $12 billion in $100 bills that were physically flown from the New York Fed to Baghdad, $9 billion are missing. Second, more of life on Earth is vanishing - the updated Red List of endangered species shows a large increase in species in critical condition.
In the world of finance, the next month is full of key moments, where debts will have to be covered, paper of various sorts matures, hedge funds will need to fork over lots of cash to investors who want out, and take-over deals will come under scrutiny. It looks like trillions of dollars could disappear from the markets before the end of the year.
And Greenspan had no idea. None. Now there's a mystery.
Billions over Baghdad
Under old news:
http://benfrank.net/patriots/news/national/pentagon_missing_trillions
"According to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.
*whistles do de do de do*
And according to some estimates, there are still 3 trillion barrels of oil left in the world. Does that make it true?
For all we know, Rumsfeld's statement was "[According to some estimates, we cannot track $2.3 trillion in transactions, but that's ridiculous." Taken out of context and without knowing what the entire statement was, this is kind of meaningless.
For all we know, Rumsfeld's statement was "[According to some estimates, we cannot track $2.3 trillion in transactions, but that's ridiculous."
Tell ya what - why don't you go research the matter and let us know the context.
If it matches "but that's ridiculous." position.
Because that is not the take away *I* got on Sept 10th, 2001.
The "War on Bureaucracy" I believe it was.
http://www.defenselink.mil/speeches/speech.aspx?speechid=430
The technology revolution has transformed organizations across the private sector, but not ours, not fully, not yet. We are, as they say, tangled in our anchor chain. Our financial systems are decades old. According to some estimates, we cannot track $2.3 trillion in transactions. We cannot share information from floor to floor in this building because it's stored on dozens of technological systems that are inaccessible or incompatible.Eric--
Tell ya what--I'll concede the point. Now the context was that Rumsfeld was selling a position and the GAO came out a few months later and said there were about 1.1 trillion in 'undocumentable adjustments' [http://en.wikipedia.org/wiki/United_States_Department_of_Defense], so about half of Rumsfeld's number, but you are right, it is certainly not a 'but that's ridiculous' context.
Thanks for the 1.1 figure and the stat3ement about how we can't find it and are not gonna look for it.
More "missing money" here:
http://www.solari.com/learn/articles_missingmoney.htm
Word is that the weekly supply of cash to and from the New Orleans branch of the Federal Reserve comes in a white panel van with incognito armored SUV escorts.
But the Wednesday before the new $100 bills came out, I was riding the St. Charles streetcar when traffic was stopped by uniformed NOPD whilst an 18 wheel truck backed into the loading dock of the Federal Reserve. Perhaps a dozen serious looking guys in suits and attache cases walked around behind the perimeter and I spotted what looked like a sniper on the roof of the Federal Reserve.
Traffic was halted even after the truck entered the grounds of the Fed, for perhaps 15 minutes after.
*LOTS* of security for a furniture delivery.
Alan