Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« Anti-nuclear campaigners launch Japan's first green party | Main | Why Your Health Care Is so Darn Expensive »
Monday
Jul232012

The Dawn Of The Great California Energy Crash

California, which imports over 25% of its electricity from out of state, is in no position to lose half (!) of its entire nuclear power capacity. But that’s exactly what happened earlier this year, when the San Onofre plant in north San Diego County unexpectedly went offline. The loss only worsens the broad energy deficit that has made California the most dependent state in the country on expensive, out-of-state power.

Its two nuclear plants -- San Onofre in the south and Diablo Canyon on the central coast -- together have provided more than 15% of the electricity supply that California generates for itself, before imports. But now there is the prospect that San Onofre will never reopen.

Will California now find that it must import as much as 30% of its power?

The problem of California’s energy dependency has been decades in the making. And it’s not just its electrical power balance that presents an ongoing challenge. California’s oil production peaked in 1985. And despite ongoing gains in energy efficiency via admirably wise regulation, the state’s population and aggregate energy consumption has completely overrun supply.

Some will say, however, that California doesn’t need to concern itself with domestic energy production. As an innovation economy, in the manner of Japan or South Korea, many have said California can simply import greater and greater quantities of energy in exchange for its intellectual capital and the services and products it provides to the world. But the problem with such a notion is that it extrapolates the trend too far.

Only a century ago, California was an emerging giant of oil and gas production, building much of its wealth from natural resource extraction. It was inevitable that this would change over time. However, given the state’s high priced electricity, its wrongly devised transportation system (which is heavily exposed to oil prices), and its deep financial distress, the nation’s largest economy is having to exchange greater amounts of capital to keep itself running.

Indeed, the latest data shows that California energy production from all sources -- oil and gas, nuclear, hydro, and renewables -- has just hit new, 50-year lows:

This is an in-depth article posted on Zerhedge to read it in full please click here.


Have a good one!

Regarding www.skoptionstrading.com. We recently closed a trade involving the S&P which generated a profit of 25.61% and was opened just 8 days ago, the charts and stats have now been updated.

Our trading success rate is 91.00%

91 profitable trades out of 100.

Our model portfolio is up 455.14% since inception

An annualized return of 81.15%

Our annual performance figures are as follows:

2009 We made a profit of 23.89%

2010 We made a profit of 158.66%

2011 We made a profit of 40.95%

In 2011 we outperformed:

S&P by 42%

HUI by 53%

Gold by 31%

Silver by 41%

The 2011 Annual Report by be accessed via this link.

Also many thanks to those of you who have already joined us and for the very kind words that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. Winners of the GoldDrivers Stock Picking Competition 2007  

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address.


PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>