SATURDAY

Senate this week voted 73-27 to end ethanol tax credit and tariff. As of July 1. Veto threat from the White House. And it's an amendment to the econ development bill which is unlikely to pass. The House also passed a measure to cut DOA funds for blender pumps. Cellulosic biofuel $1/gal tax credit also scheduled to expire end of year (tho renewed in another Senate bill).

House Committee on Appropriations cleared FY12 Energy and Water Bill. $306B for DOE, $5.9B below Admin request, $1B below last year. Solar programs cut 63%, geothermal 62%, biomass 56%, wind 40%, H and fuelcells tech 9%. ARPA-E cut to $100M, $80M below '11. Course, that's just the House committee.

Fed govt uses 2% of US oil supply. DOD uses 93% of that.

Siemens to spend Euro 150M next 2 yrs to expand wind biz. 2 new R&D centers in Denmark and expanded production. At Euro 28B/y revs, Siemens the world leader in clean E.

Germany avg for rooftop solar of 100kw now $3.70/w. 50% drop since '06. In '09, US installs of 10kw ~$8/w.

US has 25M people lacking fulltime work. How many never finished high school I wonder.

Japan, at 210% debt to GDP, has no hope left of recovery. Europe still bailing out their bankers whose loans hurt everyone else but themselves. G, does that sound like American banks? And if I heard Greenspan right on Charlie Rose last night our banks have been sitting on $1.5T from the Fed for years. Greece has borrowed 90B Euros from the ECB. ECB has 5.3B in capital left and holds $1.9T of "dubious paper" from member central banks. Greece will need mo money in July. "Another Lehman moment" the clarion? Um, did it or did it not take WW2 to end the great depression? And do we even want to apply that to today? Um. No.

C-130 Hercs carried $2.5B cash in $100 bills with each flight into Iraq back in '04. There were a lot of flights. Over half of the money unaccounted for to this day. O, the spoils o war.

EIA: tsunami of emerging market oil refineries coming online.

Brussels and Washington engineering the currency fall in effort to destroy the value of their debt. A see-saw fall.

Latest OECD report: Oil demand now 89.3mb/d. Supply 87.4. Hellro. IEA: China alone will increase demand in '12 ~2mb/d. Projected '12 world demand increase 9.48mb/d. Look toward Mongolia, Kenya, Brazil and Columbia for new oil. And God.

UpWind research project says 20MW wind turbines achievable w/ radical design. Trailing edge flaps, camber controls, shape memory alloys and everything else you got.