STUFF

Iran discovered 1 of biggest NG fields in mideast. Comparable to world's largest field they share with Qatar - 1,800TCF. Iran also has offered $500M  to build $1.5-1.8B NG pipeline to Pakistan. Scheduled completion by '17. And agreements to add oil pipe to it to carry 70-80kb/d.

Biggest NG reserves still belong to Russia.

Fed Reserve Act of 1913 established 3 key objectives for monetary policy. 1, max employment. 2, stable prices. 3, moderate long-term interest rates. They're certainly not doing 1. Now the mandate is 1, conduct monetary policy, 2, supervise/regulate banking, 3, maintain stability of financial system, 4, provide financial services for depository institutions, US govt, foreign official institutions and 5, econ research (Beige Book). The only stockholders of the 12 regional Fed banks are national banks (chartered by US govt) and state-chartered banks that meet requirements and want to join (~38% of country's 8K banks).When the Fed writes a check it's creating money. US govt receives all of Fed's annual profits after a 6% dividend on members' investments, operating expenses and account surplus maintainance. In '11, $77B went to US Treasury. $79B in '10. So, there you have the Fed. I wonder when they got away from the max employment mandate. Let alone stable prices - a 1913 dollar is worth what now, a cent?

Last year India had world's worst air pollution: Yale study. And 200M Indians still living without el.

1 more thing to worry about: large solar storms could cause widespread damage to US grid, endanger >100 nuke plants that depend on grid for power, cooling.

Bloom Energy (fuel cells) broke ground on Delaware factory that will double their production.

Exxon shut down pipeline after 80K gallons of crude spill in N Louisiana.

Institute of Medicine will examine fracking process for health risks. Scientists say fracking should only take place at least 600 meters below aquifers used for water supply.

IEA: biofuels production needs to double from currently announced capacity by '20, and govts need to level the playing field.

BP plans to add 3 drilling rigs in Gulf by yearend, bringing their total to 8, more than before spill.