Japan will need to import more oil to replace its shutdown nuclear plants: http://online.wsj.com/article/SB10001424052748704838804576196270282565218.html If you can't read the article, type the title into google and click on the link to open it. My question is this, while Japan may need to import more oil, I see their demand for energy as dropping as well from this catastrophe. Will the replacement of oil for nuclear energy outweigh the loss of demand for oil energy? I'm trying to gauge where we are headed. As I see it, the technicals point that we may see a retraction in oil in the next few days...maybe the fundamentals won't be in play here. I know most of you probably don't care since you just do intraday trading
I would think it will take a great deal of energy (oil) to rebuild. Sendai is the largest city (I think) North of Tokyo...was a thriving city. Not to mention all the damage in many other parts including Tokyo. Building requires energy(oil) and I have no doubt the country will pull together and get it done. So I guess I'm saying I think their demand for oil will actually increase.
Concern about fuel in wake of Japan disasters http://edition.cnn.com/2011/WORLD/asiapcf/03/12/japan.quake.scene/?hpt=T2 Supplies of food and gas were running out in Sendai, the northern coastal city close to the epicenter of Friday's quake. Those who survived the earthquake and chose to remain in the city were enduring two-hour waits at the supermarket, according to a CNN iReporter in Sendai with the username joeyjenkins. "They have waited for I don't even know how long to get gas, as the gas station manually pumps the gas since there is no electricity," joeyjenkins wrote, adding they were without power until early Sunday. Petrol set for rise as aftershocks rock markets http://www.smh.com.au/world/petrol-set-for-rise-as-aftershocks-rock-markets-20110312-1bsbc.html [T]he biggest effect on the world economy may yet come in further roiling oil prices that already have cast a pall on the global recovery. That's because the 8.9-magnitude quake forced the shutdown of a number of Japan's oil refining facilities as well as some of its nuclear power plants. The loss of substantial refining capacity in the world's third-largest economy is likely to inject more volatility into petrol prices - raising the possibility of even higher pump prices. Industry experts say that if Japan cannot get its refineries back online quickly, there will be a spike in that country's demand for petrol, diesel and jet fuel. Global suppliers might find it more profitable to increase shipments to Japan instead of selling the fuel elsewhere, resulting in a bidding-up of prices.
Biggest factor that I can see is that UC Santa Barbara won the Big West Championship and is going to the NCAA Tournament. This should create a huge market rally starting today.
Wall Street Journal * March 13, 2011, 11:29 AM ET Schumer Says Arab League Ups Chances of Libya No-Fly Zone By Patrick OâConnor Sen. Charles Schumer (D., N.Y.) said the chances the United Nations Security Council will declare a no-fly zone over Libya have risen following a recommendation by a coalition of other Arab countries to ground military aircraft there. âI certainly think the Arab Leagueâs decision makes a no-fly zone more likely,â Mr. Schumer said during an interview on NBCâs âMeet the Pressâ on Sunday. The Arab League on Saturday urged the U.N. to declare a no-fly zone over Libya as forces loyal to Col. Moammar Gadhafi continued to overrun rebels there. The recommendation serves as a strong rebuke of a fellow Arab League country and ups the pressure on the international body to impose sanctions on the Libyan strongman. The White House issued a statement Saturday welcoming the move, saying it âstrengthens the international pressure on Gadhafi and support for the Libyan people.â
The Christian Science Monitor - CSMonitor.com Terrorism & Security Arab League approves no-fly zone in Libya. But is it too late? The US and UK expressed support for the Arab League's approval of a no-fly zone as Libyan rebels beat a hasty eastward retreat from forces loyal to Col. Muammar Qaddafi. By Arthur Bright, Correspondent posted March 13, 2011 at 10:12 am EDT The United States and United Kingdom expressed their approval of the Arab League's call Saturday for a United Nations no-fly zone over Libya. But despite the League's request, it remains unclear how effective a no-fly zone over Libya might be as Libyan rebels continue to lose key cities and towns to Col. Muammar Qadaffi's forces. Agence France-Presse reports that Libyan rebels fled the oil town of Brega Sunday, as Colonel Qadaffi's forces continued to advance toward the rebel-held city of Benghazi in the east. AFP notes that the rebels' morale had been bolstered by the Arab League's call for a no-fly zone, which came before the retreat from Brega. (See map.) The White House called the League's request an "important step" in dealing with the Libyan crisis, reports Reuters. "The international community is unified in sending a clear message that the violence in Libya must stop, and that the Qaddafi regime must be held accountable," the administration said in a statement. Britain also welcomed the League's statement. Reuters writes that British Foreign Secretary William Hague told BBC television that "We've said all along that one of the conditions for a no-fly zone must be broad support in the region." "Clearly this is one indicator that there is broad support in that region," he said. "It's not the only condition. It's also necessary to have even broader international support and it's also necessary for it to be clearly legal." Reuters notes that it is still unclear how Russia and China will respond to the Arab League's request. Both countries hold seats on the UN Security Council and are traditionally loath to involve themselves in what they consider other nations' domestic issues. The Christian Science Monitor reported Friday that both Britain and France have been pushing for EU support of a no-fly zone, though they have been meeting resistance from those worried about increasing the risk to Libyan civilians and getting entangled in an ongoing conflict in North Africa and the Middle East. The decision by the Arab League to come out in favor of a no-fly zone may shift global opinion, as the request is a major departure from the League's long history of rejecting foreign intervention in Arab affairs. Al Jazeera English reports that Youssef bin Alawi bin Abdullah, Oman's foreign minister and the chair of the Saturday meeting at which the decision was reached, said all members of the League were in support of the decision. Amr Moussa, the secretary-general of the Arab League, said that the no-fly zone was needed to protect Libya's people, though he added that he did not know "how nor who [would] impose this zone, that remains to be seen." He also said that the no-fly zone would have to end immediately upon resolution of the crisis in Libya. The Arab League noted that it did not support any "foreign military" intervention in Libya, which is a member of the League, though currently suspended due to its actions against its people. But even with the Arab League's support, it is unclear whether a no-fly zone will be of help to Libyan rebels. The Wall Street Journal reports that while Abdel Hafeez Goga of the Benghazi-based rebel government said that his people "welcome and salute [the League's] decision and look at it as a step forward to the imposition of no-fly-zone imposition," Qaddafi's forces were ousting the rebels from the cities of Ras Lanuf and Zawiya. And the fall of Brega Sunday only underscores the urgency of the rebels' need for support. Further, the efficacy and ease of a no-fly zone remains a subject of debate. The Washington Post writes that while Qaddafi has used some air power, "[m]uch of the fighting is being done by ground forces, including tank-fired artillery...." And US Secretary of Defense Robert Gates warned last week that a US-enforced no-fly zone would require serious military effort, reported The Christian Science Monitor. "Thereâs a lot of, frankly, loose talk about some of these military options. Letâs just call a spade a spade. A no-fly zone begins with an attack on Libya to destroy the air defenses. Thatâs the way you do a no-fly zone."
Here are the upcoming Economic Reports. http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm Fed announcement on Tuesday PPI on Wednesday Employment numbers, CPI, and Philly Fed on Thursday
latimes.com/news/nationworld/world/middleeast/la-fg-libya-rebels-flee-20110314,0,3215653.story latimes.com Libyan rebels flee Port Brega as Kadafi forces advance Rebels retreat farther into eastern Libya as forces loyal to Moammar Kadafi overrun Port Brega and push on toward the opposition headquarters in Benghazi. By David Zucchino and Jeffrey Fleishman, Los Angeles Times 9:27 AM PDT, March 13, 2011 Reporting from Benghazi and Ajdabiya, Libya Forces loyal to Libyan leader Moammar Kadafi pushed deeper into rebellious eastern Libya on Sunday, overrunning an important oil town and forcing lightly armed rebel fighters back toward the opposition stronghold of Benghazi. The rebels fled Port Brega, site of a strategic refinery complex and oil terminal, under heavy bombardment and tried to hold back rapidly advancing government forces in Ajdabiya, about 95 miles southwest of Benghazi. Panicked rebels in Ajdabiya blocked reporters from driving farther west. Many said they lacked the firepower or manpower to slow the assault by Kadafi's fighters, who appeared poised to bombard the town. Rockets slammed down late Sunday afternoon on the western outskirts of Ajdabiya, 45 miles east of Port Brega, as disorganized rebels scrambled to mount a defense of the city. The steady advance of government fighters behind airstrikes and rocket attacks put pressure on rebel leaders in Benghazi to stop or slow the assault up the Mediterranean coastal highway before it reached the rebel stronghold. State-run TV claimed that Port Brega, about 140 miles west of Benghazi, had been "cleansed of armed gangs." The fall of Port Brega would represent a serious blow to rebel resistance. It continues a government onslaught that has loosened the opposition's grip on eastern Libya. Just eight days ago, rebel fighters routed pro-Kadafi forces in Port Brega and another strategic oil city, Ras Lanuf, and spoke of attacking Tripoli, the capital. The closed refinery at Port Brega normally produces 15% of Libya's gasoline and other fuels. With other sources of gasoline also cut off by fighting, the rebels face a growing fuel shortage. The volunteer force fights from pickup trucks and private cars. The Port Brega complex is still pumping natural gas through pipelines that provide fuel for electric plants in Tripoli and Benghazi, according to executives of Libya's biggest state-owned oil company. They said Kadafi could cut the pipeline to Benghazi and create electricity shortages in Libya's second-largest city. From Port Brega, the coastal highway to Benghazi has no fixed gun emplacements to fight off a government advance. The only defense is inexperienced and undisciplined rebel gunmen riding in pickups mounted with antiaircraft guns and other weapons. Seizing Ajdabiya might allow government forces to race east over a largely undefended desert highway to the key rebel port of Tobruk, where they would be in position to block the coastal highway between Tobruk and Benghazi. In Benghazi, representatives of the opposition national council claimed rebel fighters remained in control of Port Brega. But those same spokesmen also said last week that the opposition controlled two other eastern cities even as they were being overrun by Kadafi's fighters. "We are 100% in control'' of Port Brega, said Mustafa Gheriani, who often speaks on behalf of the 13-member national council that controls most of eastern Libya. Gheriani said Kadafi did not have enough loyal fighters to hold any eastern city or town they had taken over so far. "He can bomb the heck out of these places," he said, "but he doesn't have to foot soldiers to hold them." Gheriani and other council officials continued to insist that special-forces troops and army officers who had defected from Kadafi's army were leading and reorganizing the rebel force. But there has been no sign of a coherent leadership for the gun-toting young civilians who have rushed to the front. Security was heightened Sunday at the downtown Benghazi courthouse that serves as headquarters for the opposition. A front-end loader moved concrete barriers into place to block access to a narrow street leading to the courthouse entrance. Many shops in the city did not open their doors, and others lowered their shutters as reports from the front came over TV sets and radios. An announcer on the rebel-controlled Free Libya radio station urged residents to remain calm and patient. Some international journalists drove from Benghazi east to Tobruk on Sunday to avoid being trapped in Benghazi if government forces attempted to encircle and besiege the city. Security was increased at hotels frequented by journalists. On Saturday afternoon, a cameraman for the Qatar-based Al Jazeera network was shot and killed by gunmen about 10 miles west of Benghazi while returning from an assignment. An Al Jazeera correspondent said the network will toughen its security measures but will not be intimidated into leaving Libya. Othman Battiri, a correspondent for the network, said in an interview at the organization's hotel in Benghazi that the attack was carried out by gunmen loyal to Kadafi. State-run TV has vilified the network, calling it a tool for the rebels and Al Qaeda. "It was a targeted attack,'' Battiri said. "This is Kadafi's weapon against the Libyan people â to silence the press from reporting the truth.'' Photos: Conflict in Libya continues as Kadafi's forces move east toward Port Brega Battiri said one of two men in a car that had been following the network's vehicle opened fire with an assault rifle when the vehicle slowed for a speed bump. Cameraman Ali Masan Jaber, 50, was shot three times and died at a Benghazi hospital, he said. An Al Jazeera correspondent in the vehicle, Baiba Mahadi, was wounded and a Libyan translator was grazed by a bullet, Battiri said. Mahadi left Benghazi by car for the Egyptian border with the cameraman's body, which was to be flown to Qatar. "We're staying right here,'' Battiri said. "Leaving would only help Kadafi achieve his goals.'' Zucchino reported from Benghazi, Libya, and Fleishman from Ajdabiya, Libya. Copyright © 2011, Los Angeles Times
Here's the latest info on the nuclear reactors in Japan. BTW Plutonium-239 has a half-life of 24,200 years. So it will eventually be okay. (He said shaking his head. Sheesh!) Does anyone remember the final season of the West Wing and the San Andreo nuclear disaster? All of this reminded me of that except this is real and it's worse. New York Times - Nuclear Crisis Spreads to Fourth Plant http://www.nytimes.com/2011/03/14/world/asia/14nuclear.html?_r=1&hp Expert: Nuclear Radiation Could Spread Far Beyond Japan http://www.voanews.com/english/news...-Could-Spread-Far-Beyond-Japan-117899079.html