Global Market Commentary, Analysis and Investments
A second reactor at the Fukushima Daiichi nuclear plant in Japan may have ruptured. Plans to douse the reactors with water via helicopter had to be abandoned. Radiation levels are apparently too high.
“The nuclear renaissance is dead,” concludes Chris Mayer in his essay “Japan’s ‘Three Mile Island’”, after several days of deliberation that began early on Saturday at JFK airport in New York, where we heard news of the first explosions.
[Read more...]Japan’s nuclear disaster is tragic on many levels. My focus here, though, will be on what it means for uranium investments and the world’s energy markets.
The main worry is that the situation in Japan chills the industry in the same way Three Mile Island did in 1979. Will political pressures quash the nuclear renaissance? It’s too early to know for sure how this will play out, but we can make some guesses.
[Read more...]Recently, I had a long talk with Ali Moshiri, President of Chevron Africa and Latin America Exploration and Production Company. Mr. Moshiri has been working for Chevron for over 30 years. He's one busy man, whose responsibilities begin in the southern waters of the Gulf of Mexico and extend to the cold reaches of the southern Atlantic Ocean.
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The Story of Timothy Bancroft
Let me tell you the story of Timothy Bancroft. It’s a good one, and if you haven’t heard it, I think you’ll like it.
Bancroft was a smart and shrewd investor. He dodged the Panic of 1857, which he said was due to “easy money policies” and “overconfident speculation in the railroads and farmlands of the Western states.”
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