Does Greece Have The Energy For A Fight?

May 21, 2012 by · Leave a Comment

If Greece were a man, he would have aged decades in the past two weeks.

The grey hairs would be sprouting, the wrinkles showing. It has been an extraordinarily tumultuous time here.

This country has overcome so much in its long and rich history. But even Greeks are bewildered by what has happened in the last fortnight.

Roll back to 6 May: election day beneath a beautiful early summer sun. As predicted, an austerity-weary nation seized the chance to punish the much-reviled political establishment. [Read more...]

Filed Under: Foreign Affairs, Politics ·

US Dollar Makes A Break To 16-Month Highs As Fear Creeps In

May 20, 2012 by · Leave a Comment

Though the benchmark currency eased back into the final 48 hours of this past trading week, the dollar nevertheless posted another impressive run through the entire period. A third consecutive weekly advance for the Dow Jones FXCM Dollar index marks the best run for the currency since November of 2010 and subsequently posts its highest close in 16 months. By all accounts, this is a bullish turn. However, in these impressive statistics, there is still something lacking – momentum. Sure a rally that posts 11 bullish days in 15 trading sessions (marred only by very small setbacks) is inspiring, but progress is still in its fledgling state having just crossed the multi-month threshold. What are we missing? True fundamental support. [Read more...]

Filed Under: Stock Market ·

‘Hydrogen Is Tomorrow’s Biofuel’ Say Scientists

May 19, 2012 by · Leave a Comment

Researchers from the University of Birmingham are creating clean hydrogen from food waste paving the way for a bioenergy alternative for the future.

Currently, Brazil is the world’s most intensive user of bioethanol as an alternative to gasoline for powering transport. There are questions about whether the mass production of bioethanol using sugarcane is sustainable in the long-term. Bioethanol generates carbon dioxide and agricultural waste. However, creating clean hydrogen from waste not only uses that waste but provides a fuel that is emission free and can also be generated sustainably. [Read more...]

Filed Under: Energy, Research & Study ·

Gasoline, Oil Prices Continue To Drop

May 18, 2012 by · Leave a Comment

Pump prices continue to fall in the Knoxville area.

The average price of a gallon of regular unleaded dropped nearly a penny overnight to $3.455 on Wednesday, according to the AAA Daily Fuel Gauge Report.

Prices have plunged in recent weeks. This time a month ago the average in metropolitan Knoxville was $3.76, the auto club reported.

Memphis has the lowest average among Tennessee’s largest cities at $3.412, followed by Chattanooga at $3.416. Nashville has the highest average in the state at $3.486. [Read more...]

Filed Under: Energy, Industry ·

Owning Your Company’s Stock, Toxic Or Not?

May 17, 2012 by · Leave a Comment

Buying stock that then falls sharply is painful, especially for investors who also happen to be company employees.

Some workers at Chesapeake Energy are experiencing that pain now.

Overall, 38 percent of Chesapeake Energy’s Savings & Incentive Stock Bonus Plan – the only 401(k) plan available to the majority of the firm’s employees – is in company stock, far above the 10 percent many plan consultants advise.

Chesapeake stock, hit by revelations about Chief Executive Aubrey K. McClendon’s business dealings, had fallen nearly 40 percent from highs of $25.58 in March to Monday’s close. The shares were down another 7 percent in Tuesday afternoon trading to $14.41. [Read more...]

Filed Under: Banking & Finance, Stock Market ·

2012 Mayan Apocalypse A No-Go

May 16, 2012 by · Leave a Comment

Archaeologist William Saturno recently discovered a new Mayan calendar that debunks the myth that the world will end in December 2012.

According to LiveScience, the discovery was made in 2010 by one of Saturno’s undergraduate students during a field study of Xultun, an ancient Mayan city in Gautemala. The student noticed black and red paint in a trench that was most likely dug by looters. Saturno decided to investigate the room that the looters had failed to penetrate.

Saturno was pleasantly surprised to find a well-preserved painting of a Mayan king and his subjects. On the east wall of the room was a set of hieroglyphs that would later be analyzed as a new Mayan calendar. It’s been suggested than an ancient Mayan scribe must have used this room to work and wrote the calender on the wall as a reference. [Read more...]

Filed Under: Art, Humanities ·

Gold Drops To Four-And-A-Half-Month Low On Euro-Zone Worries

May 15, 2012 by · Leave a Comment

Gold prices fell to a four-and-a-half-month low on Monday, hit by concerns about a worsening debt crisis in the euro zone following political deadlock in Greece which fuelled risk aversion and put pressure on the euro.

Spot gold hit a session low at $1559,81 an ounce, its lowest since late December 2011, before recovering slightly to trade at $1561,81 an ounce at 10am GMT, down 1,1% from $1578,30 late in New York on Friday.

Gold has moved in tandem with riskier assets this year as the turmoil in Europe sent the euro to multi-month lows and investors turned to the safety of the dollar, analysts said. [Read more...]

Filed Under: Precious Metals, Stock Market ·