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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: peppe51 who wrote (37614)9/20/2005 2:03:30 PM
From: benwood  Read Replies (1) | Respond to of 116555
 
Anyone interested in the near term adoption of hydrogen should read this report, imo:

ilea.org



To: peppe51 who wrote (37614)9/20/2005 2:41:05 PM
From: mishedlo  Read Replies (1) | Respond to of 116555
 
Rita Will Become A Major Hurricane
Tuesday, September 20, 2005 12:50 PM EDT

"The worst case scenario for a hurricane is when it is over very warm water, as high pressure builds to the north of the storm center. Hurricane Rita will meet all these criteria this week. That means the storm will become at least a Category 4 hurricane as it passes over the central Gulf of Mexico."
headlines.accuweather.com

If one disaster is great for the stock market then 2,3, or even 4 has to be better.

Mish



To: peppe51 who wrote (37614)9/20/2005 3:12:43 PM
From: mishedlo  Respond to of 116555
 
Japan: China Extracting Gas From China Sea

TOKYO (AP) -- China has begun extracting natural gas from an area of the East China Sea at the center of a territorial dispute with Japan, the Japanese trade minister said Tuesday.

Japan and China have been at loggerheads over the use of undersea natural resources in the area, which both countries claim could belong to their exclusive economic zones. The issue is one of several that has soured ties between the two nations over the last year.

''We confirmed a flame alight in the chimney on a drilling facility set up by China in the East China Sea,'' Trade Minister Shoichi Nakagawa told reporters, saying this showed China was already removing natural gas from the area.

In the past, Japan has proposed that Tokyo and Beijing decide on a line between their economic zones and jointly exploit resources in the area.

The gas dispute stems from a disagreement over how much sea resources the two sides can claim in the East China Sea, which separates China's eastern coast and Japan's southern island chain of Okinawa.

Under the U.N. Convention on the Law of the Sea, coastal countries can claim an economic zone extending 200 nautical miles (230 miles) from their shores. Both Japan and China signed the treaty, but the United Nations has until May 2009 to rule on the claims.

China also bases its claim on a separate international treaty that lets coastal countries extend their borders to the edge of the undersea continental shelf.

In July, Beijing formally protested Tokyo's decision to give private oil company Teikoku Oil Co. drilling rights in the East China Sea, calling it a severe provocation. Teikoku and several other Japanese oil companies first applied for drilling rights in the late 1960s following a U.N. report about possible rich undersea deposits.

But China made the first move, launching an exploration operation and construction of an undersea pipeline last year, Japan says. Tokyo has since demanded that Beijing stop exploration over worries that reserves on the Japanese side might be sucked dry

nytimes.com