HISTORY & READINGS at Brian Ripley's Canadian Housing Price Charts & Plunge-O-Meter

Commodity Super Cycle

10/24/2018

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As I have been pointing out on my chart of TSX INDEXES for Energy, Real Estate, Financial Services, Gold and the Bank of Canada Commodities in $CAD, that...

...the Thompson Reuters CRB chart embedded in the chart shows that global commodities measured in USD has been dropping since 2008, although recently since September (2018), there has been a near term rally in commodities... BUT

...since Oct 3, 2018, the Thomson Reuters/CoreCommodity CRB Index has been coiling down (MarketWatch.com).

On my Twitter Feed from @hks55 came their chart suggesting that the commodity super cycle is poised for another leg down due to China's slowdown in credit creation that had spurred the commodity boom as Kyle Bass illustrates in this comparison between Chinese credit creation and their GDP (the link includes the 41 second video).

CLICK TO GO TO ORIGINAL POST

China’s Slower Credit Growth
Underscores Worries Over Economy
Bloomberg, Aug 2018

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Oil-O-Nomics

3/9/2017

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It's a big day in the Oil Markets as the price of crude slips below the sentiment price of US$50 the list is growing of oil majors who are withdrawing from further investment in Alberta.

Also yields in the bond markets are continuing their rising trend; ie: the cost to finance is rising.

MAR 9/17 Lower oil prices have the potential to take down the stock market Market Watch
MAR 9/17 Energy Credit Risk Soars As Crude Carnage Continues Zero Hedge
MAR 9/17 U.S. Solar Market Has Record-Breaking Year, Total Market Poised to Triple in Next Five Years SEIA Org
MAR 9/17 Canadian crude just got a lot more Canadian as another global giant bails on the oilsands Financial Post
MAR 8/17 World Doubled Its Solar Power Capacity in 2016 Futurism
FEB 26/17 With Shale Oil Production Like This, Who Needs Trump? Bloomberg
FEB 22/17 Exxon will leave 3.6-billion barrels of tar sands oil in the ground Environmental Defense
FEB 14/17 Don't Hold Your Breath For $70 Oil Prices Forbes
JAN 15/17 Future of the oilsands: the good, the bad and the ugly CBC News
DEC 14/16 Norwegian giant pulls out of Alberta's oilsands National Observer
APR 21/16 Kurzweil predicts solar industry dominance in 12 years Electrek

The first bullet point above should concern the Canadian real estate markets. If a stock market correction gets sparked, the combination of rising interest rates and falling equity values should spook the real estate bull. Mortgage term renewals will go up in price and the bank of mom and dad will reconsider the risk of the rising cost of money. Parents, especially retirement aged or close to it, will not be too eager to take on more debt and purchasers of any age will have to consider timing as an investment criteria rather than buying anything with a front door for fear of missing out as is happening in Toronto. Timing is difficult, but lenders would become more insistent on basic risk assessment fundamentals such as the Income Approach to valuation instead of a rubber stamp and a drive-by appraisal.

Sentiment change is an investment killer and in Canada it would not take much to gather momentum as evidenced in my ongoing Federal Direct Investment plot which has been negative for almost 20 years, and which widened dramatically in 2015. Capital flows are net positive going out of Canada because investors want better returns which is why the oil majors are leaving Alberta for less regulatory and lower cost of production environments.

A March 2000 stock market correction event would lend credence to my February 22, 2017 post Need For Speed which posits that a housing correction could unfold in a much shorter time span than what Harry Dent has in mind especially with Trump-O-Nomics in the house.

Al Gore on the Solar Revolution - TED Talk Clip 1.50 min
2 solar home systems sold every minute in Bangladesh

Zombie Real Estate

10/31/2016

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Zombie real estate in Vancouver BC is a problem. The owners have placed a high value on keeping them empty when vacancy rates are at historical lows. See the Beautiful Empty Homes Vancouver archive. In March 2016, theGeorgia Straight reported some 10,000 condos were vacant. The city now wants to tax the owners between a ½% and 2% of the assessed value; CBC News Sept 14, 2016.

As I argued recently in July in Part III of "Death & Taxes" if we all leased our land from the state (ourselves) and were left with only the market rates for the improvements that sit upon the land, housing would be affordable. Owners of the physical improvement of a dwelling, a factory or hospital would not be subject to wild swings in land value. The cost of servicing the land with utilities would be paid for by long term leases. Zoning could be amended when a change in land use was required. The stigma of renting would relax if we all were tenants in common.

As it is now with the state playing monkey business with interest rates (ZIRP and NIRP) and removing credit risk from a lender's balance sheet (CMHC) and reacting with "supra" taxes layered upon individuals deemed to be distorting the market, we end up with more complexity, uncertainty and unproductive investment.

Land management should not be in the hands of short term profiteers. There are alternatives. Land in the Fiji Islands is managed through three complementary systems. Leased land covers 90% of their territory (83% "Native Land", 7% "Crown Land") and 10% of the land is "Freehold". Source

If land costs were built on productivity incentives and protected from the boom and bust of demographic pressure, urban planning departments could create longer term strategies and developers could be more productive on the improvement side of land development. But with very high land costs, the market forces us to build to the minimum of efficiency standards and the maximum of financial rewards.

The crappy little toaster that you call an electric baseboard heater inside an inefficient envelope is indeed just a heat transferring conduit. The condo boom is a commodity arbitrage not an affordable housing plan. (The Condo Game, CBC Doc Zone, January 2015)

The Democratization of Production
Be lazy like a fox. WikiHouse

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Tesla's Powerwall 2 and Solar Roof Launch

The sun provides more than enough energy in just one hour to supply our planet’s energy needs for an entire year. Your home can capture this free, abundant energy source through rooftop solar tiles, turning sunlight into electricity for immediate use or storage in a Powerwall battery. Tesla, October 28, 2016

Big Oil Big Debt Big Solar

8/25/2016

"Some of the world’s largest energy companies are saddled with their highest debt levels..." Wall Street Journal Aug 24, 2016

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Grim expense report: Alberta's debt soars to $10.9 billion
CTV NEWS August 24, 2016

MEANWHILE: Tesla Master Plan Part Deux July 20, 2016
The Grand Opening of the Tesla Gigafactory
Building the world’s largest battery factory
to accelerate a sustainable energy future. July 30, 2016

ITEM: The falling costs of US solar power, in 7 charts
Vox Energy & Environment August 24, 2016

ITEM: 7 Reasons Cheap Oil Can't Stop Renewables Now
Renewable Energy World January 2015

Energy Bar

5/2/2016

Commodities 1980-2016 & High Yield Defaults

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While we wait for the April real estate data to dribble in, let's look at the commodity sector that peaked in 2011 and is now threatening to break a major uptrend channel and possibly retest the 2006 lows; a time when the Yield Curve inverted and soon after the BoC and U.S. Fed etal went on a ZIRP to NIRP bender in an effort to spark inflation. Clearly low rates have not produced CPI inflation but a speculative frenzy for Yield.

The top panel in the mashup above is the Thomson Reuters Commodity Index chart since the 1980's provided by Kimble Charting Solutions. The commodity index is made up of 18% Energy, 24% Metals, 29% Softs and 29% Agriculture.

The bottom panel is from ZeroHedge and their post underscores that energy junk bonds are at an all time default rate high.

...the energy high-yield default has soared to a record 13% rate, surpassing the 9.7% mark set in 1999, according to Fitch Ratings.

"...energy companies now account for approximately 20 percent of the junk bond market." Michael Snyder, Global Research, December 2014

AND THIS from Bloomberg May 1, 2016 Saudi Arabia's determination to keep pumping more oil into global markets brings to mind its former oil minister Sheikh Yamani, who said back in 2000 that the Stone Age did not end for a lack of stones, and the oil age will not end for a lack of oil.Those working for him at the time, interpreted this as a warning to OPEC about the pursuit of high oil prices: namely, that it would just speed up the development of alternative technologies and drive away customers, leaving oil sitting beneath the ground without buyers.Sixteen years later, the kingdom's leaders seem to have heeded his warning. Both Deputy Crown Prince Mohammed bin Salman and oil minister Ali al-Naimi have said they will no longer subsidize high-cost oil production by limiting supply. If there's oil to be left under the ground, they're determined it won't be Saudi Arabia's.

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Battery Powered Homes

Good or Bad Boom

2/23/2016

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The aging boom in real estate has been fabulous for sellers unloading risky and depreciating assets. A recent study of "good and bad booms" (abstract below) suggests that as productivity declines over an aging boom, the risk of insufficient collateral becomes evident. The U.S. productivity chart has momentum relative to Canada's.

Abstract: Good Booms, Bad Booms
by Gary Gorton and Guillermo Ordoñez, February 2016
NBER Working Paper No. 22008

Credit booms are not rare and usually precede financial crises. However, some end in a crisis (bad booms) while others do not (good booms). We document that credit booms start with an increase in productivity, which subsequently falls much faster during bad booms.

We develop a model in which crises happen when credit markets change to an information regime with careful examination of collateral.

As this examination is more valuable when collateral backs projects with low productivity, crises become more likely during booms that display large productivity declines. As productivity decays over a boom as an endogenous result of more economic activity, a crisis may be the result of an exhausted boom and not necessarily of a negative productivity shock. We test the main predictions of the model and identify the component of productivity behind crises.

Canada has a population total similar to California's and yet California's GDP is +/- 1.3 times that of all of Canada's (Wikipedia). Canadians don't produce as much stuff as Californians do and with the energy and resource sectors deflating, I suspect Canada's "information regime" is going to change abruptly if it has not not already. Loans officers are going to be actually looking at the collateral underlying the loan instead of green lighting every manic bid this rising market proposes.

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HAT TIP to Jason Kirby, Macleans.ca for his "The most important charts for the Canadian economy in 2016" and the following two charts that underscore the risks of the "bad boom".

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Canada needs stronger business investment
Glen Hodgson, Conference Board of Canada

“2015 was another mediocre year for the Canadian economy, growing by only 1 per cent in 2015 after a technical recession in the first half of the year. The weakest aspect of Canada’s economy this year was the feeble performance of private investment, projected by the Conference Board of Canada to contract by nearly 8 per cent compared to 2014 levels. Much of this contraction is due to the sharp pullback in investment in the oil patch, now expected to decline by 40 per cent over the course of the year. That result for 2015 is depressing enough—but as the chart shows, Canada’s poor private investment performance in 2015 was not a one-time thing.

There’s more to this story than just low oil prices as Canadian firms continue to sit on mountains of cash embedded in their balance sheets. As a result, it is no surprise that we are in the midst of a multi-year period where growth in private investment is weak—the lagging edge of our economy—with little sign of a significant turnaround in 2016. A prolonged period of little or no real growth in private investment is bad news for productivity growth, since it suggests we are missing opportunities to invest in new technology, build our productive base and boost the competitiveness of the Canadian economy. What could prompt stronger investment growth? The growing U.S. recovery should boost demand for Canadian exports and eventually cause firms to invest in order to expand their productive capacity and seize the available export opportunities. But until there is evidence that Canadian firms are responding to a stronger order book, private investment will remain the lagging edge of our economy.”

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Global GDP is slumping
Bob Hoye, Institutional Advisors

“The graph of global nominal GDP runs from 1981 to date and covers another “new era” of financial manias. Our era has been fabulous as reckless adventurers have dominated financial markets as well as central banks. As with previous examples, the action has been mainly in financial assets with real estate prices soaring in the financial centres. Although the experiment in ambitious policy has seemed without limit, there was a severe setback in 2009.

The alert to the “Great Recession” was classic. Credit spreads reversed to widening in June 2007 and commodities reversed to weakening in June 2008. The rest as the saying went, was history. At -5 per cent, the current slump in global GDP is almost as severe as the one in 2009. This was preceded by the reversal in credit spreads and weakening commodities that began in June 2014. Central bankers have been charged with preventing contractions. This diminishes perceptions of risk and accounts get leveraged. Throughout history margin clerks have always trumped central bankers. This time around, central banks are highly leveraged.”

Bob Dylan - Things Have Changed

Credit Cycles

12/10/2015

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First In ~ First Out

According to StatsCan, in 2001 after the dot.com blowout and the markets then turned to commodities, there were +/- 329,129 employees working in the Oil, Gas & Mining industries per year in Canada and in full year 2014 that number had increased by 60.8% to 529,248.

This includes "support activities" but not the peripheral jobs in the general economy that depend on the spending by those oil, gas and mining employees.

In the chart above, the top panel shows U.S. non-financial corporate debt to GDP at levels where credit defaults start hitting the front page. The lower panel shows the cumulative flow of investment funds in the U.S. and illustrates that institutional money is way ahead of private client money in getting out of the way of market risk to the downside.

According to the New York Times December 8, 2015 "If It Owns a Well or a Mine, It’s Probably in Trouble".

“The world of commodities has been turned upside down,” said Daniel Yergin, the energy historian and vice chairman of IHS, a consultant firm. “Instead of tight supply and strong demand, we have tepid demand and oversupply and overcapacity for commodity production. It’s the end of an era that is not going to come back soon.”

Some energy experts are even beginning to express concerns that sovereign wealth funds of Saudi Arabia and other wealthy Persian Gulf and oil-producing countries will redeem their money from investment firms in the coming year to shore up their balance sheets. If they do, the moves could initiate more instability in global equity and debt markets.

The full article is worth reading for Canadians who are also heavily leveraged and require employment earnings to satisfy debt repayment on assets that have insufficient equity to refinance.

Credit lines drying up for oil companies?

Notice the comments about the competition between Sunni (Saudi Arabia) and Shia (Iran) oil.

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Distress (bonds trading over 1,000bps) has been spreading across the HY space. From its starting point in energy a year ago, it has now reached other commodity-sensitive areas such as transportation, materials, capital goods, and commercial services. But it did not stop here and is also visible in places like retail, gaming, media, consumer staples, and technology – all areas that were widely expected to be insulated from low oil prices, if not even benefitting form them.

In other words, what was until a year ago a purely "energy" phenomenon is now an "everything" phenomenon, despite promises by every prominent economist that plunging energy prices are great news for the economy.

$35 Oil Stress Test

12/2/2015

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Imagine $35 Oil for 5yrs

A US-Style Canadian housing correction possibility is a potential that CMHC's CEO Evan Siddall discussed at a private audience presentation in New York, November 30, 2015 if oil remained at an average price of USD$35 per barrel for 5 years.

The top chart are oil prices since the OAPEC (Arab members of OPEC plus Egypt & Syria) oil embargo. Note the 22 year period of sub-$35 oil prices not long ago.

The bottom chart is Bloomberg's energy sector projections from their annual New Energy Finance Summit, April 14, 2015.

SCENARIO 1:
Oil averaging $35/bbl for 5 years

26% drop in Canadian home prices
12.5% peak unemployment

SCENARIO 2:
Global deflation and a US-style Housing Correction

30-44% drop in Canadian home prices
12-16% peak unemployment

"Canada’s home price growth since the 2008 recession has outpaced that of the U.S., Australia, and the U.K. It also reiterated risks to housing include high debt-to-income and concentration of net worth in housing." Financial Post November 30, 2015 (My Household Debt and Earnings charts are updated monthly - BR)

Donald Sadoway "Science Serving Society"

Energy 2064 with Professor Donald R. Sadoway

The Bill Gates Backed Canadian Building a Better Battery

"How do you store the energy generated by turbines when the wind isn’t blowing, the power from solar panels when the sun isn’t shining?” Read the Globe & Mail June 2015 report.

Ten Dollar Oil

8/19/2015

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"The negative feedback loop of falling stocks in a world of extremely tepid global demand might just make the crazy idea of $10 oil a lot less crazy sounding" Jack Crooks, Black Swan Capital, August 11, 2015

"What risks do asset price bubbles pose for the economy? Credit-financed house price bubbles have emerged as a particularly dangerous phenomenon." Jorda, Schularick, Taylor, Leveraged Bubbles June 2015

“leaning against the wind” and “mopping up after”

From a monetary and macroprudential policy point of view, our findings help understand the trade-offs involved in the “leaning against the wind” and “mopping up after” strategies. We show that when credit growth fuels asset price bubbles, the dangers for the financial sector and the real economy are much more substantial. The damage done to the economy by the bursting of credit-boom bubbles is significant and long-lasting. Jorda, Schularick, Taylor, Leveraged Bubbles June 2015

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OIL PRICE COLLAPSE of 2015 - Harry Dent

In 4Q 2001 & 1Q 2002 oil was below $20/barrel.

Ripped Off

3/26/2015

Alberta SWF compared to Norway 1981-2011

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This Bird Has Flown
Alberta's so called "progressive" conservative governments; 7 consecutive iterations since 1971, have squandered their provincial energy resources leaving their treasury with a CAD 12 billion dollar debt and a 500 million dollar deficit. (The Tyee)

Data for the chart above came from Greg Poelzer's Macdonald-Laurier Institute's February 2015 Publication Paper "What Crisis? - Global lessons from Norway for managing energy-based economies."

Norway, a county of 5.2 million people (Alberta's population is similar at 4.2 million), began their first successful North Sea oil drilling in 1971 and by maintaining sovereign control and creating partnerships with the private sector "... now sits on top of a CAD ONE TRILLION DOLLAR pension fund established in 1990 to invest the returns of oil and gas. The capital has been invested in over 9,000 companies worldwide including over 200 in Canada. IT IS NOW THE LARGEST SOVEREIGN WEALTH FUND IN THE WORLD" (CBC News, March 20. 2015).

According to estimates by the International Monetary Fund and Fitch Ratings, Norway needs an oil price of $40 to BALANCE THEIR BUDGET. (Institutional Investor, Feb 24, 2015)

“I truly believe one of the greatest mistakes we have made was to let our commitment to the Heritage Fund lapse...” said Alberta's latest "progressive" conservative premier, Jim Prentice (BNN March 24, 2015)

Ya Think?

The following is an extract from the January 2013 Canadian Centre for Policy paper "The Petro-Path Not Taken - Comparing Norway with Canada and Alberta’s Management of Petroleum Wealth" by Bruce Campbell

NORWAY Management of Petroleum	XX	CANADA Management of Petroleum

Strong societal consensus from the outset embodied in its “ten oil commandments.”		No consensus and much conflict between the federal and Alberta governments about how to manage petroleum resources.

National public ownership and control of all aspects of oil production and distribution.		“Open door” to multinational oil companies. Let the private sector take the lead, with government providing subsidies and tax breaks to encourage resource exploitation. Foreign ownership very high. Federal and provincial ownership and control initiatives only in the Lougheed and Trudeau era–1974 to 1984.

Maintained key policy tools to manage its resources.		Surrendered key policy tools under the Canada U.S. free trade agreement and NAFTA.

Active industrial policies to encourage linkages to upstream and downstream petroleum related activities.		Active industrial policy measures, both federally and provincially, until the mid-1980s; since then they have been passive (subsidies, tax breaks, R&D assistance, etc.)

State-owned oil company, Statoil, dominant player in the development of the oil industry.		Provincial and federal initiatives to develop state ownership did not last. Eventually private interests and their political allies defeated these initiatives. Petro Canada was fully privatised.

National oil self-sufficiency was quickly achieved.		Eastern provinces forced to import oil even as exports to the U.S. expanded rapidly. Today they import more than 80% of their oil consumption.

NORWAY During Latest Petro-Boom		CANADA During Latest Petro-Boom

Has maintained full employment even during the global recession.		Canada’s unemployment rate has remained high since 2008. Alberta’s unemployment rate has been much lower on average, bumping up only during the recession.

Has maintained low and stable inflation.		Canada has maintained low and stable inflation. Alberta’s inflation has been significantly higher than the Canadian average.

Has maintained a stable exchange rate due largely to its centralized wage settlement policies and to its petroleum fund.		Has experienced a huge increase in its exchange rate, with major adverse impacts on non-petroleum regions. Neither level of government has a petroleum savings fund to offset the inflow of oil revenue and bitumen investment. The federal government has chosen not to take measures to offset the upward pressures on the exchange rate.

The huge oil revenue inflow has been offset by the outflow to the petroleum fund. Has a huge trade and current account surplus.		Canada’s traditional merchandise trade surplus turned into a deficit after 2008. Its non-resource deficit is huge. It also has a very large current account deficit. Alberta maintains a large trade surplus due to its oil and gas exports to the United States.

Economic and employment benefits have been widely distributed. Any regional disparities have been offset by a very effective income transfer system.		GDP and employment benefits are concentrated in Alberta. Petroleum related employment gains are outweighed by employment losses in non-petroleum related industries concentrated in the rest of Canada. Relatively small benefit going to the rest of Canada due to weak linkage effects and weak federal government income transfer mechanisms.

NORWAY Appropriation and Distribution of Oil Wealth		CANADA Appropriation and Distribution of Oil Wealth

The state captures the vast majority of net revenues, or economic rent, from petroleum.		Rent captured by the Alberta government is among the lowest of all petro states. The federal government captures a very small portion of oil rent through the general corporate tax rate.

Maintained its level of non-petroleum taxes despite rising oil revenues. Its overall tax-to-GDP ratio is among the highest in the OECD.		Alberta lowered its non-petroleum taxes as petroleum revenue rose and now has by far the lowest taxes in Canada. Both governments lowered corporate income taxes including on petroleum companies by half over the last decade.

Its diversified revenue base is not dependent on fluctuating petroleum revenues but rather on the more stable international financial returns to government coffers from its petroleum fund.		Alberta’s fiscal capacity is highly dependent on petroleum revenues, which go up and down as prices fluctuate, and often finds itself in deficit. Its savings funds to stabilize revenues are small and ineffective.

Strong unions are in a balanced power relationship with business. High union density, centralized collective bargaining and wage settlements, consensus building approaches.		Declining unionization especially in the private sector. Only the public sector has high unionization rates. Collective bargaining systems are fragmented and adversarial. Alberta has the lowest unionization rate in Canada. Both governments have beenworking aggressively to undermine unions.

Petroleum wealth, due to equitable labour relations, progressive taxes, and a generous social welfare system, is equitably distributed amongst the population and regions of the country. Has among the lowest income inequality in the world.		Since the mid-1990s there has been a rapid growth of income inequality driven by the 1% in Canada—now amongst the highest in the OECD. This has been accompanied by the reduction in social program spending. There has been growing interprovincial disparity in income and fiscal capacity with Alberta pulling away from the rest. Government redistribution mechanisms have been greatly weakened, exacerbating these trends. Inequality in Alberta has grown during the boom, and it is home to a rapidly growing share of Canada’s super-rich.

NORWAY Climate Change		CANADA Climate Change

Norway’s carbon emissions per capita are half of what they are in Canada.		If Alberta were a country it would have the highest per capita emissions in the world along with Qatar.

A leader on climate change issues.		A climate laggard.

Met its Kyoto commitments. Its Copenhagen carbon reduction commitments are the most ambitious in the industrial world. Plans to be carbon neutral by 2050 or sooner.		Compared to commitments of 6% below 1990 levels, was 24% above 1990 carbon levels in 2008. Withdrew from Kyoto and its Copenhagen commitments are much weaker and almost certainly will not be met. Rapid development of the oil sands takes precedence over climate concerns. Alberta’s plan aims to reduce emissions by just 14% below 2005 levels by 2050.

Recently doubled its carbon tax to $66 per ton, and participates in the European carbon trading emissions regime.		Federal government refuses to implement a carbon tax or a cap and trade system for carbon emissions. Alberta’s $15 partial carbon tax is extremely low and ineffective.

Tough environmental regulations govern the exploitation and transportation of oil and gas.		Alberta’s environmental regulations don’t meaningfully restrain the environmental impacts of rapid oil sands development. The environment department lack sufficient resources to effectively enforce regulations. The federal environment department has been gutted as has the federal environment regulation and review system.

The Beatles - Norwegian Wood (This Bird Has Flown)

<<Previous

Commodity Super Cycle

China’s Slower Credit Growth
Underscores Worries Over Economy
Bloomberg, Aug 2018

Oil-O-Nomics

Al Gore on the Solar Revolution - TED Talk Clip 1.50 min
2 solar home systems sold every minute in Bangladesh

Zombie Real Estate

The Democratization of Production
Be lazy like a fox. WikiHouse

Tesla's Powerwall 2 and Solar Roof Launch

Big Oil Big Debt Big Solar

Grim expense report: Alberta's debt soars to $10.9 billion
CTV NEWS August 24, 2016

MEANWHILE: Tesla Master Plan Part Deux July 20, 2016
The Grand Opening of the Tesla Gigafactory
Building the world’s largest battery factory
to accelerate a sustainable energy future. July 30, 2016

Energy Bar

Battery Powered Homes

Good or Bad Boom

Bob Dylan - Things Have Changed

Credit Cycles

Credit lines drying up for oil companies?

$35 Oil Stress Test

Donald Sadoway "Science Serving Society"

Energy 2064 with Professor Donald R. Sadoway

The Bill Gates Backed Canadian Building a Better Battery

Ten Dollar Oil

“leaning against the wind” and “mopping up after”

OIL PRICE COLLAPSE of 2015 - Harry Dent

Ripped Off

The Beatles - Norwegian Wood (This Bird Has Flown)

History, Charts &
Curated Readings

Archives

Categories

China’s Slower Credit Growth Underscores Worries Over Economy ​Bloomberg, Aug 2018 ​

Al Gore on the Solar Revolution - TED Talk Clip 1.50 min 2 solar home systems sold every minute in Bangladesh

​The Democratization of Production ​Be lazy like a fox. WikiHouse

​Tesla's Powerwall 2 and Solar Roof Launch

Grim expense report: Alberta's debt soars to $10.9 billion ​CTV NEWS August 24, 2016

MEANWHILE: Tesla Master Plan Part Deux July 20, 2016 The Grand Opening of the Tesla Gigafactory Building the world’s largest battery factory to accelerate a sustainable energy future. July 30, 2016

Battery Powered Homes

Bob Dylan - Things Have Changed

Credit lines drying up for oil companies?

Donald Sadoway "Science Serving Society"

Energy 2064 with Professor Donald R. Sadoway

The Bill Gates Backed Canadian Building a Better Battery

“leaning against the wind” and “mopping up after”

OIL PRICE COLLAPSE of 2015 - Harry Dent

The Beatles - Norwegian Wood (This Bird Has Flown)

History, Charts &Curated Readings

Archives

Categories

China’s Slower Credit Growth
Underscores Worries Over Economy
Bloomberg, Aug 2018

Al Gore on the Solar Revolution - TED Talk Clip 1.50 min
2 solar home systems sold every minute in Bangladesh

The Democratization of Production
Be lazy like a fox. WikiHouse

Tesla's Powerwall 2 and Solar Roof Launch

Grim expense report: Alberta's debt soars to $10.9 billion
CTV NEWS August 24, 2016

MEANWHILE: Tesla Master Plan Part Deux July 20, 2016
The Grand Opening of the Tesla Gigafactory
Building the world’s largest battery factory
to accelerate a sustainable energy future. July 30, 2016

History, Charts &
Curated Readings