Ohio State victory Iowa loss have Buckeyes feeling rosy

As the clock ticked down to the start of the Ohio State game, the clock struck zero for the Iowa Hawkeyes, who fell to Northwestern, 17-10. The outright Big Ten title was back up for grabs for the Buckeyes. With a 24-7 victory over Penn State, OSU took one step toward that goal.Defense ignites the Bucks early and oftenThe Buckeye defense handed the Nittany Lions a quick three-and-out at the beginning of the first quarter. Junior Cameron Heyward set the mood for the game when he sacked PSU quarterback Daryll Clark for a loss of six yards on the first play of the drive.Then, early in the third quarter, Heyward sacked Clark for a loss of seven yards, as the Buckeyes led 10-7.“I just wanted to play,” said Heyward, who finished the night with two sacks and an additional tackle for loss, combining to push the Lions back a total of 17 yards. “We have a great defense, and I just wanted to help.”The defensive goal coming into Saturday’s game was to hold down Penn State’s run game. And they did just that, holding the Nittany Lions to 76 yards.“We talked about outplaying their defense. That’s how we go into every game, we have to outplay their defense,” senior linebacker Ross Homan said. “Our defensive line made the difference for us tonight.”Going into the game Saturday, the Buckeyes led the nation in forcing three-and-outs, and they came out of the game with seven more to their name, forcing PSU’s first three drives to end short of a first down. “Defensively, there was no question that they were going to have a tough time moving it on us,” coach Jim Tressel said. Pryor to Posey partnership is grounds for successWith just more than a minute left in the third quarter, quarterback Terrelle Pryor connected with receiver DeVier Posey for a 62-yard touchdown, increasing the Buckeye lead to 17-7. The 62-yard pass is the longest pass play by a Penn State opponent this year. “It was big for me, it was big for the offense, and we definitely needed something like that,” Posey said. “It was a big momentum changer.”It has become quite apparent that Posey has become one of Pryor’s favored receivers when the game is in a tight spot.“That’s one of my great friends. We’re really close. We live right next door to each other, and he’s just one of my boys,” Posey said. “It only helps that he’s the quarterback and I’m the receiver.”Huge production out of ‘Small’ returnerSenior Ray Small returned seven punts for 130 yards, with his longest setting up a touchdown drive in the fourth that cemented the Buckeye lead, 24-7.The 45-yard return put Pryor and the offense at the 47-yard line with a straight shot to the goal line. The return wasn’t Small’s only 40-plus-yard return. He opened the game with a 41-yard return on OSU’s second drive, bringing the ball all the way to the 9-yard line. “It’s huge. It’s a big thing to be on the team in this tradition, and to come back and just redeem myself,” Small said. “That’s what I think of this as: a redemption.”Offense seizes opportunity in two quick touchdown drivesThe Buckeyes had two different touchdown drives that were each less than a minute long. The first, a 6-yard touchdown run from Pryor after Small’s return, was the result of two plays and 44 seconds. It was a pivotal starting point for the momentum of the game.“That was huge. If we had been limited to a field goal there, I think, emotionally, in their stadium, that would have been almost a victory for them,” Tressel said.The drive with Posey’s touchdown lasted nine seconds, and the final touchdown drive was a little more than five minutes long.Bucks hold onto the ball, no turnovers for the Scarlet and GrayWhen last year’s fight against PSU at home boiled down to a fumble from Pryor, the name of the game this year became avoiding turnovers. And that is exactly what OSU’s offense did.For the first time this season, the Buckeyes went without a turnover the entire game.Both teams held onto the ball surprisingly well. PSU’s only turnover was a fourth-quarter interception by OSU linebacker Ross Homan.“From a turnover standpoint, it was the best we’ve done, having none. If we can do that, we will have a chance,” Tressel said.Barclay fills in at kickerLast week, after Aaron Pettrey left the New Mexico State game with an injury that resulted in season-ending surgery, junior Devin Barclay stepped in with a shaky performance, missing two field goals.But the 26-year-old former collegiate soccer player left no call unanswered Saturday, making good on three extra points and a 37-yard field goal. “I’m pretty speechless. It was a once-in-a-lifetime experience, and I’m just happy to have gotten the opportunity to do it,” Barclay said. “I just wanted to hit my kickoffs well and swing nice and easy on extra points and field goals and just make them all.” read more

Ohio State womens volleyball ready for homestand against Indiana and Purdue

Senior outside hitter Kaitlyn Leary (11) serves the ball during a match against Michigan Sept. 27 at St. John Arena. OSU won, 3-1.Credit: Mark Batke / Lantern photographerA change in mindset might alter the fortunes of the Ohio State women’s volleyball team this weekend.After dropping eight straight Big Ten matches, junior defensive specialist Alyssa Winner said the Buckeyes have a new focus point going into their next match.“This new thing we want to do is (win) five points at a time, so five sets of five in each game,” she said.Freshman middle blocker Taylor Sandbothe said the new outlook can help keep the team from looking too far ahead.“Kind of keeping the game in sight, not thinking about 25 (the number of points needed to win a set) automatically,” she said. “Thinking about first to five, first to 10 (instead).”OSU is scheduled to embrace this new philosophy as the team returns to St. John Arena this weekend to host Indiana at 7 p.m. Friday before welcoming No. 14 Purdue at the same time Saturday.The Hoosiers are one of only two Big Ten teams OSU has bested this season, along with Michigan, and also represent the Buckeyes’ most recent Big Ten victory.Since beating Indiana in five sets Oct. 5 in Bloomington, Ind., OSU has not won a match. Most recently, the Buckeyes lost to then-No. 14 Michigan State Nov. 1, before dropping a 3-2 decision at No. 17 Michigan Nov. 2.Senior outside hitter Kaitlyn Leary, who tallied a career-high 31 kills against the Wolverines, said there are still positives to take from the loss.“There’s a lot we can take from that game, I think we played really well,” she said. “We battled the whole game.”Leary said the team is getting close to a breakthrough.“Our team played well, so we’re getting closer to that win that we need,” she said. “(We’ll) just work really hard this week to get that ‘W’ this weekend.”Junior setter Taylor Sherwin agreed there can be positives taken from the losses in Michigan, but added there is room for growth going forward.“We just keep growing as a team and keep staying together and fighting on the court with each other,” she said.Winner said she is excited to be back on the Buckeyes’ home court, especially coming off another road trip.“It’ll feel really good, since we were away last weekend and we need to get a win,” she said. “Having our fans behind us will be great. It’ll be nice to be back here and not have to travel.”While the team will have the home support for its matches against Indiana and Purdue, the homestand will be short-lived. The Buckeyes are scheduled to hit the road again next weekend for matches against No. 9 Minnesota in Minneapolis, Minn., Nov. 15 and No. 16 Wisconsin in Madison, Wis., Nov. 17. read more

Ohio State mens soccer earns 1st victory of season

Ohio State senior goalkeeper Alex Ivanov (center) makes a save as temmates Yianni Sarris (left) and Ryan Ivancic (right) look on during a match against Cleveland State on Sunday, October 27, 2013 at Jesse Owens Memorial Stadium in Columbus, Ohio. The win gave Ivanov his seventh shutout of the 2013 season.Credit: Mark Batke / Photo editorIt might have taken seven overtime periods, but the Ohio State men’s soccer team finally grabbed its first victory of the 2014 season.OSU opened its season with a double-overtime scoreless draw against the University of California Davis before going to two more overtimes in its next game against Butler.The Buckeyes (1-0-3) experienced a familiar feeling with a 1-1 draw in double overtime against tournament host University of North Carolina-Wilmington on Friday night before achieving that elusive first victory against Elon University, 1-0, in single overtime Sunday.Sunday’s win came when junior forward Joao Ehlers fired the golden goal past senior Elon goalkeeper Nathan Dean about 2.5 minutes into the overtime period. Ehlers a Brazilian native made his OSU debut Friday night after transferring to the school from the University of the Cumberlands this season.Redshirt-senior goalkeeper Alex Ivanov made four saves for his 10th career shutout and the second shutout of the season. Ivanov has started all four games this year, allowing 0.75 goals per game.OSU was outshot 14-10 by Elon (2-2-0), including 9-4 in the second half, but Ehlers’ shot was the only one of overtime — and the only one it needed.The game was delayed for just under 90 minutes during the 55th minute because of lightning in the area.In Friday night’s contest, OSU spent the majority of the game playing protection. UNC-Wilmington outshot the Buckeyes, 19-8, including 4-0 in the two overtime periods, but OSU did not break.The scoring was opened with OSU’s first shot of the game during the sixth minute when senior midfielder Yianni Sarris took a pass from his left from sophomore forward Danny Jensen and shot inside the right post for his second goal of the season.The rest of the first half saw a flurry of attacks from UNC-Wilmington, but Ivanov stopped three shots to keep it scoreless.The OSU goalie didn’t experience quite the same amount of success in the second half, as Seahawks sophomore forward Freddy Nzekele took a header off of a free kick in the 65th minute and put it past Ivanov to knot the score at one.Chances were sparse throughout the rest of the second half, and the Buckeyes once again headed to overtime.Offense was hard to come by throughout the two overtime periods, but Ivanov stepped up with about five minutes remaining in the game when he made a diving stop on a penalty kick to save the game.The Buckeyes have yet to play a game ending in regulation time, but were still able to pick up the win they were searching for through the season’s first three games. Jensen said earlier in the week that getting a win is “basically all that’s on our minds right now.”The team is set to return home to open Big Ten play against Northwestern on Sunday. That game is scheduled to begin at 1 p.m. at Jesse Owens Memorial Stadium. read more

Urban Meyer I dont know who our quarterback is going to be

Redshirt-senior quarterback Braxton Miller doesn’t have a date set for his return from a second shoulder surgery.Credit: Tim Moody / Lantern sports editorWith two out of three quarterbacks in an open competition limited by injury, Ohio State’s spring practice plan has stayed the same day to day.Coach Urban Meyer said the Buckeyes want to keep redshirt-senior Braxton Miller moving toward full health, get redshirt-sophomore J.T. Barrett as much practice time possible and keep redshirt-junior Cardale Jones’ foot on the pedal.“Hoping to get J.T. Barrett a million reps, probably more than I thought we’d get him,” Meyer said during a Monday press conference. “Cardale didn’t have a particularly great day today, but he’s had a good spring and we’re getting him as much reps as we can. And Braxton’s getting healthy, and he’s getting a lot of mental reps.”Each of the three has a chance to start when the Buckeyes open the 2015 season against Virginia Tech on Sept. 7, depending on their health.Miller is in the process of recovering from his second labrum surgery after injuring his throwing shoulder, which held him out for the whole 2014 season. Barrett is coming off a fractured ankle suffered in late November against Michigan, and Jones is healthy, but only has three collegiate starts under his belt.Jones has gotten the most reps in the spring, and Meyer said he and redshirt-freshman Stephen Collier will be the two Buckeye signal callers playing in Saturday’s annual Spring Game at Ohio Stadium.Barrett has been less limited than expected, Meyer said, and has even had a chance to compete in two-minute situations in practice. The fourth-year OSU coach said the Wichita Falls, Texas, native has been more of an active participant because the team as a group knows how to avoid causing injuries in practice.“There’s winner-loser days where you are gonna do whatever you got to do, but then there’s a day to pull up right before something stupid happens,” Meyer said. “We monitor that real close.“If you re-injure it, he’s done for the year.”Left: Redshirt-freshman quarterback J.T. Barrett addresses the media Dec. 3 at the Woody Hayes Athletic Center. Barrett had surgery for a fractured ankle on Nov. 30, and has been ruled out for the rest of the season.Credit: Tim Moody / Sports editorRight: Redshirt-sophomore quarterback Cardale Jones (12) carries the ball during a game against Michigan on Nov. 29 at Ohio Stadium. OSU won, 42-28.Credit: Mark Batke / Photo editorBarrett has more starting experience than Jones, but only got his shot when Miller — who has been OSU’s starter for the better part of three seasons — was injured during fall camp.Meyer said he doesn’t yet have a date for when Miller will be fully available again, but said the former Wayne High School signal caller has been evaluated by Dr. James Andrews, a surgeon who regularly operates on high-level athletes, multiple times. Meyer added that — even ahead of medical personnel — he trusts Miller’s take on his own status first and foremost.“I’ve known Braxton for a long time and almost every day, ‘How’s it going, talk to me,’” Meyer said. “And he says it’s going very well.”With three quarterbacks in three different stages of availability, Meyer said there’s no set plan for when the Buckeyes take on the Hokies in Blacksburg, Va., in less than five months.“I don’t know who our quarterback is going to be,” he said. read more

Local groups clash in Kashipur Several detained situation remains tense

first_imgKolkata: A major clash broke out between two groups clash at Kashipur on Monday morning.Local sources informed that the two clubs in the locality on Khagen Chatterjee Road led by Ayub and Selim have been rivals for the past several years. On several previous occasions, members from both the clubs often fought with each other over handling of goods and other works at the railway siding. Chaos erupted on Sunday night when a cricket tournament was going on in the locality. During the match, some persons in an inebriated state pelted stones and bricks at the players on the ground. Later, the two groups got involved in a scuffle. But the matter soon ended following the intervention of senior residents. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedHowever, some youths of one of the groups started pelting stones at their rival group members on Monday morning around 10:30 am and the area turned into a war zone. The parties were equipped with iron rods, sticks, hockey sticks and wickets. Several people got injured in the clash. Both the groups ransacked multiple cars and bikes which were parked on the roadside. In the meantime, Kashipur police station was informed. Depending on the situation, Chitpore police station was also informed. Later, police personnel from both Chitpore and Kashipur police stations dispersed the mob and brought the situation under control almost after an hour. The injured persons were rushed to a nearby hospital where they were treated and discharged. Police have initiated a case and had detained 13 persons including Selim and Ayub. A police picket has been set up in the area as the situation remains tense in the area.last_img read more

By Marin Katusa Chief Energy Investment Strategis

first_imgBy Marin Katusa, Chief Energy Investment StrategistThe energy market is a complex beast, its many parts interconnected through a multitude of linkages. When one part fails, the entire system reacts: certain linkages are burdened with extra stress, while other components sit idle. Only by studying the entire machine can one understand the rippling effects that stem from one change.With the energy market, the system is made up of various sectors – oil, natural gas, uranium, coal, and alternative energies – and the countries that have each of those energy resources. The components are then linked through a long line of forces, including the geographic distributions of supply and demand, international allegiances and trade deals, global markets and commodity prices, and the ever-evolving field of international relations. A change in any country, sector, or linkage resonates through the entire system.From this perspective, North America’s shale gas revolution truly earns its accolade as a “game changer.” As many people now understand, the boom in natural gas reserves and production in the United States and Canada is changing the way North America will power itself in the future.What a lot of people do not understand is how to profit from this shift.Natural gas prices are depressed and expected to remain so for the short to medium term, so investing in natural gas options or a natural gas exchange-traded fund is not likely to bring home the big bucks anytime soon. Domestic natural gas equities are an even riskier idea – most producers are scaling back production and selling assets as they hunker down in preparation for a tough few years.In this case, the way to profit is by understanding how natural gas’ changing role is impacting North America’s energy machine as a whole. Cheap natural gas is prompting utilities to switch from coal to gas where possible. The confluence of cheap natural gas and a risky global economy has droves of investors turning their backs on green energy, the sector that was such a market darling only a few years ago. Farther down the road, North Americans are debating – and in places implementing – a range of strategies to take advantage of the continent’s newfound abundance of natural gas, from natural-gas-powered transport trucks to exportation of liquefied natural gas (LNG).Isaac Newton showed us that for every action there is an equal and opposite reaction. That is why every downside force in the energy sector creates upside opportunities elsewhere. The challenge is finding them. It takes an understanding of the entire global energy machine to figure out what areas are benefitting from the changing landscape.For Every Down, There’s an UpNatural gas seems to know that it is heading for several years in the doldrums and, in fighting spirit, it is trying to take a couple of other energy sectors down with it.With coal, it is succeeding, but there are still lots of coal opportunities outside of the United States. With uranium, the global supply-demand scenario and America’s position within it is in such flux right now that cheap natural gas is doing little to reduce America’s need for U3O8. Then there’s the well-field services sector, where the successes born from horizontal drilling and fracturing created the gas supply glut that is forcing production cuts. Far from slowing down, however, well-field service companies are busier than ever as the oil industry adopts fracking to access shale oil, and the deepwater Gulf of Mexico continues to test the limits of drilling technology.CoalThe sector feeling the worst impacts from gas’ downturn is thermal coal. Demand for the coal burned to generate power in the US is plummeting as utilities take advantage of the cheapest natural gas in ten years. Consumption of coal to produce electricity is expected to fall 2% this year to its lowest level since 1992, while gas-fired consumption rises 5.6%. Making matters worse, winter heating demand is falling in the face of mild weather: through January, this has been the warmest winter since 2006 and the fourth-warmest on record. With natural gas and warm weather conspiring against it, coal demand is decidedly down – in the second week of February, coal consumption was 4.3% lower than it was a year ago.Exports are not going to provide any help. Last year, Europe bought 50% of America’s thermal coal exports, but demand from the EU is shrinking as the region struggles to stave off a recession. The economies of the EU shrank 0.3% in the fourth quarter of 2011 compared to the previous quarter, the first contraction since mid-2009.In response, US thermal coal prices are deteriorating. Appalachian coal, the US thermal-coal benchmark, fell 15% in January alone to sit near US$60 per tonne and has moved little since (by comparison, Australian thermal coal is currently fetching almost US$120 per tonne). Mining costs to dig thermal coal out of the ground range from $60 to $75 per tonne for Central Appalachian producers, which means margins are already razor thin or nonexistent. Several major US thermal coal producers are reducing output and in some cases closing mines, including Arch Coal (NYSE.ACI), Patriot Coal (NYSE.PCX), and Alpha Natural Resources (NYSE.ANR).Now for some good news. Thermal coal prices in the United States may be faltering, but that doesn’t mean that coal is in the doldrums across the globe. In fact, quite the contrary: global thermal-coal demand is expected to increase by 50% from 2008 to 2035, with the vast majority of increased demand coming from the developing world. That equates to a demand increase of 1.5% each year, and production is not quite expected to keep up to that pace. Rising demand plus not-quite-enough supply equals investment opportunities – maybe not in the US, but elsewhere.That’s just thermal coal. There’s another component to the coal world: metallurgical coal, the higher-carbon coal used to make steel. Supplies are even tighter with metallurgical coal, which is why our subscribers have exposure to “met coal” through either equities or a fund. More recommendations are on the horizon: the upcoming edition of the Casey Energy Report will be all about coal. We will provide the background, supply and demand projections, and the best ways to profit from the global coal sector.UraniumThe abundance of cheap gas has utilities looking to build more gas-fired power plants. Some observers have suggested that this will be to the detriment of the nuclear sector in the US. But that perspective is pretty shortsighted.It is true that some utilities have delayed plans for new nuclear plants by a few years, primarily in response to the Fukushima nuclear disaster in Japan and the ensuing public backlash against uranium. But that backlash is already fading; and those delays will have only a minimal impact on the nuclear sector in the US. Five new generators are on track for completion this decade, including two reactors approved just a few weeks ago (the first new reactor approvals in the US in over 30 years). Those will add to the 104 reactors that are already in operation around the country and already produce 20% of the nation’s power.Those reactors will eat up 19,724 tonnes of U3O8 this year, which represents 29% of global uranium demand. If that seems like a large amount, it is! The US produces more nuclear power than any other country on earth, which means it consumes more uranium that any other nation. However, decades of declining domestic production have left the US producing only 4% of the world’s uranium.With so little homegrown uranium, the United States has to import more than 80% of the uranium it needs to fuel its reactors. Thankfully, for 18 years a deal with Russia has filled that gap. The “Megatons to Megawatts” agreement, whereby Russia downblends highly enriched uranium from nuclear warheads to create reactor fuel, has provided the US with a steady, inexpensive source of uranium since 1993. The problem is that the program is coming to an end next year.At present the world is producing just enough uranium to meet global demand, but this precarious balance is already tipping. There are dozens of new reactors under construction in China, India, South Korea, and Russia that will need fuel. Production increases from new mines and mine expansions are not expected to keep pace. The race to secure uranium resources is on, and for the first time the US has to compete.The answer is domestic production. The rocks underneath the United States hold lots of uranium, enough to make a significant contribution to the country’s uranium needs. The biggest impediment to mining this resource is public opposition to the nebulous dangers of uranium mining, but as the Megatons program ends Americans will start to see that the alternatives to domestic production are decidedly worse: competing against China, India, and the like for uranium is an expensive and unstable way to acquire a desperately needed energy resource. In fact, we have been vocal in predicting a demand-driven boom in US uranium production. We even expect to see “Made in America” uranium garnering a premium over imported yellowcake, in the same way that in-demand Brent crude oil earns a premium above oversupplied West Texas Intermediate crude.We have already recommended a range of investments to our subscribers to gain exposure to the coming uranium resurgence and, as with coal, there is more to come: the next edition of the Casey Energy Opportunities newsletter will focus on uranium, with recommendations to boot.Well-Field ServicesThe techniques used to unlock natural gas from shale reservoirs – horizontal drilling and well fracturing – worked so well that they created a supply glut that is altering the global energy scene. That supply glut is now prompting natural gas producers to cut back on output, which you might think would be bad news for the well-field service companies that complete those tasks.Not to worry: North America is also in the midst of a crude-oil production boom, and the common theme linking most of the continent’s new wells is highly technical drilling and production methods. The purveyors of those techniques are the continent’s well-field service companies, and their services are very much in demand.Well-field service companies have been able to compensate for lost gas fracking business by shifting to oil, as the oil industry has adopted fracking to unlock its shale deposits. If you’ve read about the oil production boom that is keeping North Dakota’s economy hopping, you read about the Bakken shale formation. In the Bakken, wells are drilled horizontally to follow along the oil-bearing layer, and then high-pressure fluids are forced down the well to fracture the shale and release the oil.Meanwhile, the challenges of producing oil in the deepwater Gulf of Mexico continue to test the limits of drilling technology. Pushing through kilometers of water before drilling through just as much rock and then extracting and transporting oil from a platform rocked by waves and threatened by hurricanes demands a wealth of specialized equipment and operators.Most oil and gas companies do not own drill rigs, nor do they actually drill or fracture their own wells. They contract those jobs out to companies that drill and frac for a living, known as well-field service companies. And with wells in America’s booming oil and gas fields requiring more complicated and more technical services with each passing year, the services these companies provide are essential to North America’s oil and gas producers.The Casey energy team is all over the well-field services sector. Subscribers to the Casey Energy Report newsletter and the Casey Energy Confidential alert service were alerted to our latest recommendation in the sector in mid-November. Three months later, our investment is already up roughly 50% and we suggested that subscribers take a “Casey Free Ride,” which means selling enough shares to recoup one’s initial investment and retaining the remaining “free” shares for continued, risk-free upside exposure.The Take-HomeWhen a machine is as interconnected as the global energy trade, no part can change without impacting the rest. The dramatic debut of shale gas in North America has done far more than just depress domestic natural-gas prices – a shift of this magnitude has impacts that reach far beyond one commodity or one country. Some of those impacts are negative, but hidden in the doom and gloom lie opportunities to profit. The key is to open your horizons and embrace the complexity and interconnectedness of the global energy machine… either that, or find a good mechanic who can do the job for you.[One of the best opportunities we’ve seen in years involves leveraging a touchy situation that OPEC doesn’t want you to know about. Learn more about it.] Additional Links and ReadsTransCanada Pushes Keystone XL Southern Leg (CBC News)TransCanada plans to break ground on the southern portion of the Keystone XL pipeline soon, while it completes a re-routing of the contentious northern leg to avoid the sensitive Sandhills region of Nebraska. When President Obama denied TransCanada a permit for Keystone in January, the only issue was the routing through Nebraska. Since regulators did not identify any problems with the portion connecting Cushing, Oklahoma to the refineries on the Gulf Coast, TransCanada will now resubmit that section for expedited approval in the hopes of having the much-needed connection in operation by mid-2013. Major production increases from the oil sands and the Bakken formation in North Dakota have created a supply glut at the oil hub in Cushing, because there is insufficient pipeline capacity to move all that oil to the refineries in the south.Rising Energy Prices Endanger German Industry (Der Spiegel)Chancellor Angela Merkel set Germany on a course to eliminate nuclear power in favor of renewable energy sources. Now, however, electricity prices are rising rapidly, threatening Germany’s important industrial and manufacturing sectors. Companies are closing factories or moving abroad, unable to deal with power prices that have, in some places, tripled in ten years. And there is no answer in sight: Only a few of the promised pumped-storage hydroelectricity plants needed to store power when the wind dies down and clouds cover the sky are being built; upgrades to the country’s power grid needed to transport wind-generated power from the coast inland will cost billions; and very few companies are willing to invest in much-needed natural gas-fired power plants given the high levels of regulatory uncertainty.Shippers Back Trans Mountain Expansion: Kinder Morgan (The Globe and Mail)The owner of the only pipeline running from Canada’s oil sands west to the Pacific coast is starting design work on doubling the pipe’s capacity after receiving binding commitments from enough shippers to fill the additional volume. Kinder Morgan has been testing the waters around doubling capacity on the 300,000-barrel-per-day Trans Mountain pipeline for some time and says the proposal would still need approval from the National Energy Board before construction could begin. Compared to the other main westbound oil sands pipeline plan (Enbridge’s Northern Gateway proposal), Kinder’s plan has the advantage that it would be using an existing right-of-way rather than impacting pristine lands. However, larger tankers would be needed to accommodate the increased crude volumes – and that would require dredging the Port of Vancouver, which is a significant obstacle.EU’s Dubious Attack on the Oil Sands (National Post)This editorial explains why legislation proposed in the European Union to effectively label crude from the oil sands as “dirty” is a bad idea. For one, while the impact on carbon-dioxide emissions would be minimal, the precedent would be dangerous in its exclusivity. Second, the label itself is highly questionable, as there is little to no evidence that oil sands crude emits significantly more CO2 than many other crude oils. Third, implementing the policy would be wrought with difficulties – would pharmaceutical and plastics manufacturers, for example, have to avoid petroleum products derived from the oil sands? And fourth: the problem is not the oil sands but rather the world’s reliance on burning oil.First Nations Don’t Have a Pipeline Veto, But They Do Have Options (The Globe and Mail)Public consultation over Enbridge’s proposed Northern Gateway pipeline is under way, and the issue is creating major debate in British Columbia. One key stumbling block is that most if not all of the First Nations bands along the proposed route oppose the pipeline. In that light, this interesting article explains just what powers the First Nations in British Columbia have over such decisions and what options they have if they don’t like the outcome.Green Energy’s Deadly Doldrums (The Globe and Mail)A great article on the quadruple whammy that has hit the green energy sector in recent years. Four years ago, investors pushed the prices of big, multinational players in the green tech sector to record highs; now many of those large companies are trading at a fraction of those levels, and several have filed for bankruptcy. The sector is struggling against cheap natural gas, overcapacity in green manufacturing, a less favorable political climate, and a global economic downturn that has reduced investors’ risk appetite and government’s generosity with subsidies.last_img read more

The CBOE Crude Oil EFT Volatility Index OVX whi

first_img The CBOE Crude Oil EFT Volatility Index (OVX), which measures anticipated volatility of crude oil prices (this sector’s answer to the VIX), is starting to break down after two-plus months of range-bound trading. Oil won’t retest $100 per barrel anytime soon, but the panic in oil appears to be over. Waning crude oil volatility suggests that oil’s decline is over. This is the same trend I highlighted in mid-February when other key sectors were using the lapse in volatility to break out.last_img